ESPN announces layoffs as part of Malloy’s “Jive Five” Economic Development Program - Wait, What?

ESPN announces layoffs as part of Malloy’s “Jive Five” Economic Development Program - Wait, What?:

ESPN announces layoffs as part of Malloy’s “Jive Five” Economic Development Program

by jonpelto

The Urban Dictionary defines “jive” as a “colorful form of speaking” that is “sometimes hard to follow.”

In the real world here is how it works;

On August 2, 2011 Governor Dannel P. Malloy announced that, in return for creating 200 new jobs over the next five years, the taxpayers of Connecticut would give ESPN $17.5 million toward the construction of a new building and at least $300,000 to train the new workers.  Malloy explained, “ESPN’s needs are not going to be ignored.”

That corporate welfare package brought the total Connecticut taxpayer support for ESPN to over $100 million in state tax breaks and grants over the past twelve years.

Then yesterday, May 20, 2013, The Wall Street Journal reported that ESPN, “was in the process of laying off a few hundred workers… a sign that the hugely profitable sports cable-TV powerhouse is responding to the rising fees it pays to air games as well as other changes in the media industry…ESPN said some of the job cuts are coming through