Widespread power outages haven’t yet hit the state as it continues to weather a massive nor'easter, but utility linemen said the state’s power companies have less capacity to deal with problems than they had four years ago.
Members of the International Brotherhood of Electrical Workers, Local 420 took a vote of no confidence in Connecticut Light and Power, saying the utility has closed work centers and is relying more than ever on contractors instead of regular employees.
Back9 Lays Off
Back9Network, the startup golf channel, has announced its laying off more than 40 percent of its staff. The Hartford-based company will let go 35 people, just a couple of weeks after it was reported that it had failed to make payroll. Back9 released a statement saying the reorganization was a "thoughtful strategy" that will allow the network to remain competitive, and said it remains committed to Connecticut.
Connecticut Hiring Best in 15 Years
Connecticut added 4,800 jobs in December, bringing the state’s jobs increase for all of 2014 to 26,700. That’s the best year of hiring in Connecticut since 1998, and it means the state has added back about 80 percent of the jobs lost during the great recession. The private sector is leading the way: private sector jobs have recovered about 94 percent of their losses.
UTC Trims Outlook
United Technologies has reported fourth-quarter earnings that topped Wall Street expectations, but the Hartford conglomerate trimmed its forecast for 2015, citing the impact of the strong dollar and pension costs. UTC reported net income of $1.5 billion, or $1.62 per share. That was up from $1.58 a share in the same quarter of 2013.
