Boston’s mojo ain’t working. Can Mayor Wu and business leaders get it back?

Welcome back. Today in 1966, the Supreme Court ruled that criminal suspects had to be informed of their constitutional right to consult with an attorney and to remain silent. Many fans of TV cop shows would come to learn the so-called Mirandi warning by heart. 

⌨️ I’m Boston Globe financial columnist Larry Edelman , and today I spoke with Boston Mayor Michelle Wu about the city’s new economic normal.

Plus: Even if you don’t know John Fogerty, chances are good you’ve heard his songs.

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Come together

A city’s mayor has to be the cheerleader-in-chief. So it was natural for Michelle Wu to accentuate the positive in the annual economic assessment of Boston that her administration released last week.

When we talked on Wednesday about the report, Wu was eager to recount a meeting she held the previous day with a fact-finding delegation from Denver.

“They were shocked at our public safety numbers and how low our crime rates are, how big the declines have been year over year. Everyone in the group told me they couldn’t believe how clean our streets were,” she said.

⏪ Catch up

The city review concluded that Boston is “showing signs of both resiliency and settling into a post-pandemic ‘new normal.’ ”

The problem is that Boston’s new normal feels somewhat diminished from the old normal. 

• The data show Boston hasn’t fully gotten its mojo back, as seen in high office vacancies, low foot traffic in business districts, and little new construction.

🔍 Look closer

• As in other cities, remote and hybrid work schedules have cut the flow of workers into Boston.
• The highest interest rates in two decades, coupled with soaring building costs, make it difficult for developers to profitably build new housing.
• The MBTA is the responsibility of Beacon Hill, which has failed under two governors to reverse the decline in service since the “Snowpocalypse” of 2015.

🤔 Final thought

Wu’s relationship with the business community is tepid. Both sides are to blame and both sides want to see Boston back at full strength. 

If the mayor and business leaders work together, they won’t get everything they want. But the city might get what it needs.

📰 Trending

Gig Work: A low-paid food delivery army is raising safety concerns as they zip around the city to satisfy the insatiable demand for takeout.

Politics & Policy: The Supreme Court ruled unanimously to preserve access to a widely used abortion medication.

CEO Compensation: Amtrak paid executives six-figure bonuses as losses continued.

🎸 The Closer

Last year, after one of the longest battles in legal history, John Fogerty regained the rights to the songs he wrote while leading Creedence Clearwater Revival, a band that produced nine Top 10 Billboard hits from 1968 to 1971.

He's been on a long victory tour, and on Wednesday night he delivered an electric performance at the Saratoga Performing Arts Center. At 79, Fogerty sings and plays with the urgency of the young rocker who appeared at Woodstock in 1969.

🛞 Big wheel keep on turnin'/Proud Mary keep on burnin'. 

Thanks for reading. I’ll be back on Monday. The trend 📈 is your friend.

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