Business

Deregulated Electricity Market
4:51 pm
Fri April 18, 2014

Regulators Say Electric Suppliers Must Improve Disclosure

Credit Sarah Simpson/flickr creative commons

Utility regulators say independent electric suppliers in the state should be required to give consumers a clear disclosure about how much they're paying for power.

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WAMC News
12:04 pm
Wed April 16, 2014

Progress Reported On Casino Impact Research Project

Originally published on Tue April 15, 2014 6:41 pm

Thousands of Massachusetts residents are being surveyed as part of multi-year, multi-million dollar research project on the social and economic impacts of introducing casino gambling to the state.

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Real Estate
9:29 am
Wed April 16, 2014

Sale in Greenwich of What May Be the Most Expensive Single-Family Home in U.S.

The view from the Copper Beech Farm in Greenwich.
realtor.com

When the Copper Beech Farm in Greenwich went on the market last spring at an asking price of $190 million dollars, it was the most expensive single-family home ever to hit the American market. Many people thought it wouldn’t close at nine figures. But it has.

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Tax Day
4:56 pm
Tue April 15, 2014

Sending Money On An Overseas Round Trip To Avoid Taxes

Round-tripping occurs when American citizens open bank accounts in tax havens such as the Cayman Islands, funnel money into the accounts and then use it to buy stocks and bonds back in the U.S.
David McFadden AP

Originally published on Tue April 15, 2014 6:03 pm

Some investors avoid paying taxes in a move called round-tripping — sending money offshore, then investing it in U.S. stocks or bonds. A study estimates it costs the U.S. billions in lost revenues.

Recently, MIT professor Michelle Hanlon and two colleagues set out to find out all they could about round-tripping.

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Cybersecurity
4:36 pm
Mon April 14, 2014

Connecticut and Utilities Prepare Defenses Against Cyberattacks

Credit Flickr user Chris Hunkeler/ Creative Commons

Governor Dannel Malloy has released a plan to protect Connecticut's utilities against cyber attacks. Connecticut's electric, natural gas, major water companies and the regional distribution systems have already been penetrated in the past.

When asked just how many cyber attacks have happened, Arthur House, chairman of the Public Utilities Regulatory Authority, said he can't go into much detail.

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Computer Security
3:28 pm
Fri April 11, 2014

UConn Partners With Comcast on Cyber Security

Harland Quarrington Creative Commons

UConn will partner with cable giant Comcast on a new center to study cyber security.

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March Madness
3:19 pm
Fri April 11, 2014

UConn Bonds See Record Orders

The UConn Health Center.
Ragesoss Creative Commons

UConn's basketball dominance is great for school spirit, but it's also helping raise money the university puts towards improving its facilities.

Each year, the state treasurer's office issues UConn Bonds. If you buy them, you're investing in things like the improvements to the university's health center, or building new dorms or study halls on its various campuses.

Assistant Treasurer Sarah Sanders said they've always sold well each year since they were first issued in 1995. But this year was special.

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Recalls
2:52 pm
Fri April 11, 2014

What's Behind The Auto Recall Surge?

Following GM and Toyota, BMW is the latest auto maker to issue a recall of thousands of its vehicles. (Ron Sombilon/Flickr)

Originally published on Fri April 11, 2014 2:57 pm

BMW is the latest automaker to announce a car recall. Yesterday, the automaker announced it’s recalling 156,137 luxury cars and SUVs because of possible stalling issues.

This comes on the heels of Toyota’s recall announcement this week, and General Motors’ recent vehicle recall notices. There have been more than 11 million vehicle recalls so far this year, and it’s part of the rapid rise of recalls in the past five years.

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Small Business
8:54 am
Fri April 11, 2014

New Haven Cardboard Furniture Company Goes Beyond One-Man Production

Zachary Rotholz of Chairigami.
Alan Yu WNPR

In New Haven, there's a furniture shop where everything is designed, hand-made, and shipped by just one employee working with cardboard.

Now Zachary Rotholz of Chairigami is working with manufacturers in Connecticut to scale up production of his cardboard furniture, and even make it high-tech.

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Vermont
8:50 am
Thu April 10, 2014

No Laptops, No Wi-Fi: How One Cafe Fired Up Sales

"We saw a lot of customers come in, look for a table, not find one and leave," owner Jodi Whalen says. "It was money flowing out the door for us."
Annie Russell VPR

Originally published on Thu April 10, 2014 8:46 am

Customers chat, read the paper and order sandwiches and espresso drinks at the counter of August First Bakery & Cafe in Burlington, Vt., but there's something different here. Where there used to be the familiar glow of laptop screens and the clicking of keyboards, now the devices are banned.

"I was here working on my laptop when I looked over and saw that there's a sign that says 'laptop-free,' " says Luna Colt, a senior at the University of Vermont.

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Horses
9:27 am
Tue April 8, 2014

A Lot Riding on a Bill to Limit Liability For Connecticut Horse Owners

Daryl DeCarli and Soldier on DeCarli's farm in Ellington.
Lucy Nalpathanchil WNPR

Are all horses naturally vicious? The State Supreme Court didn't answer that question in its recent ruling about a horse named Scuppy who bit a toddler in 2006.

However, a majority of justices agreed that all horses are inclined to bite. This presumption has upset horse owners and equine business owners in Connecticut, who say a lot is now riding on legislation that would reduce their liability to personal injury lawsuits.

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Standard Wage Legislation
11:59 am
Mon April 7, 2014

Bill Could Net the State $100 Million a Year From Low-Wage Employers

Fast food workers campaigned in Hartford last summer for higher pay.
Credit Harriet Jones / WNPR

A new analysis says large companies that allow their workers to rely on state assistance could be heavily penalized by a law currently being considered by the state legislature.

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WAMC News
9:25 am
Mon April 7, 2014

Mohegan Sun Sees Profit Decline But Doesn't Feel "The Pinch"

Originally published on Mon April 7, 2014 8:48 am

A gambling slump is eating into the profits of Mohegan Sun, but the 2,000 tribal members who draw benefits from the massive casino aren't feeling the pinch.

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Workforce Pipeline
3:43 pm
Fri April 4, 2014

Manufacturers in Connecticut Continue to Seek Qualified Workers

Credit monkeybusinessimages/iStock / Thinkstock

Connecticut’s manufacturers have a lot more confidence in the future of their companies, according to a new survey. But they're more cautious about the future of the state.

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Bioscience
4:50 pm
Wed April 2, 2014

Pfizer to Host Bioscience Incubator

CURE's Susan Froshauer gives Gov. Dannel Malloy a tour of the unused labs.
Harriet Jones WNPR

A new bioscience incubator will be created in an empty building on the Groton campus of drug giant Pfizer. The state will also move its data center to the site.

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Legislative Session
2:33 pm
Wed April 2, 2014

New Limits Proposed for Connecticut's Independent Electric Suppliers

Credit Sarah Simpson / Creative Commons

Proposed new legislation would set new limits on Connecticut's independent electric suppliers, curbing what state officials are calling deceptive practices. The bill was introduced by Governor Dannel Malloy, Attorney General George Jepsen, and Consumer Counsel Elin Katz. 

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Local Business
11:33 am
Wed April 2, 2014

Bristol Business Gets a Boost -- From a Cash Mob

Bristol Rising supporters gathered outside West End Pizza, before the start of the cash mob.
J Holt

By the time Bristol's West End Pizza was ready to open its doors on Saturday morning, there were a dozen patrons already outside, waiting to get in. You may have heard of a flash mob. Well, this is a financial version. The family owned pizzeria was the target of a "cash mob," which is essentially a group of people joining forces to give a business a really good day. 

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U.S. Economy
8:56 am
Wed April 2, 2014

Job Growth Picked Up Some Speed In March, Survey Signals

Kiara Crawford, Brittney Winkler and Jessyca Freeman (left to right) were among those applying for work last month at a job fair in Washington, D.C. Early data from that month signal that job growth may have gained some speed.
Chip Somodevilla Getty Images

The first slice of data about job growth in March offers some hope that the U.S. labor market gained some strength:

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Defense Contracts
1:23 pm
Tue April 1, 2014

Sikorsky Pays Millions to Settle Pricing Allegations

A Black Hawk helicopter flying over Iraq in 2004.
Staff Sergeant Suzanne M. Jenkins Creative Commons

Helicopter maker Sikorsky has agreed to pay $3.5 million to settle allegations that it overcharged the military for spare parts.

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Code Switch
3:05 am
Tue April 1, 2014

Lending Circles Help Latinas Pay Bills And Invest

Alicia Villanueva gives change to a customer at Off the Grid, a weekly street-food market in San Francisco.
Sarah Peet Sarah Peet Photography

Originally published on Tue April 1, 2014 8:50 am

As part of its Changing Lives of Women series, Morning Edition is exploring women and their relationship with money: saving, purchasing and investing for themselves and their families.

Cuban-American Barb Mayo describes a tanda like this: "It's like a no-interest loan with your friends." Mayo had never heard of tandas growing up, and it wasn't until she started working in sales for a cable company in Southern California that she was introduced to the concept.

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Retirement
3:28 am
Mon March 31, 2014

When Planning For The Future, Women Have Been Hands Off

In Blue Jasmine, Cate Blanchett plays a wealthy New York socialite who has it all, loses it all and ends up delusional on a park bench.
Perdido Productions

Originally published on Mon March 31, 2014 12:46 pm

It's a truism in the financial industry that women need to get more out of their money than men since they live longer and make less, especially if they take time out to care for children or aging parents. But it's also a given that they lack confidence when it comes to investing, something that's clear on a recent evening at the Women's Center in Vienna, Va.

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MFG4
11:09 am
Fri March 28, 2014

Manufacturing World Coming to Hartford

Governor Dannel Malloy tours MFG4 at the Connecticut Convention Center in Hartford two years ago.
Credit Harriet Jones / WNPR

This spring Hartford will once again play host to the biggest names in the world of manufacturing, as the MFG4 conference comes to town.

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Gender
9:14 am
Fri March 28, 2014

IMF's Lagarde: Women In Workforce Key To Healthy Economies

International Monetary Fund Managing Director Christine Lagarde in Brussels earlier this year. Lagarde says women are underutilized in the global economy.
Geert Vanden Wijngaert AP

Originally published on Mon March 31, 2014 12:12 pm

As the first woman to lead the International Monetary Fund, Christine Lagarde is among an elite group of people determining how money is saved, spent and invested worldwide.

It's not the first time she's been a "first." Lagarde was France's first female finance minister, and before that, the first woman to chair the global law firm Baker & McKenzie.

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$10.10
7:51 am
Thu March 27, 2014

Governor Malloy Signs Minimum Wage Law in New Britain

President Obama stumps for the minimum wage at CCSU
Credit Chion Wolf / WNPR

President Obama has congratulated Connecticut for becoming the first state to officially endorse his goal for the minimum wage. The General Assembly on Wednesday night passed a bill that will raise the wage to $10.10 an hour by 2017.

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Minimum Wage
7:22 pm
Wed March 26, 2014

Connecticut General Assembly Passes Minimum Wage Bill

Governor Dannel Malloy addresses the Raise the Wage stop in Hartford.
Credit Americans United for Change

The Connecticut General Assembly passed a bill that would raise Connecticut's minimum wage to $10.10 an hour by 2017. The legislation makes the state the first in the nation to endorse President Barack Obama's goal for the national minimum wage.

Republican senators offered a variety of amendments to the bill, but all were been defeated.  

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Social Media
7:40 pm
Tue March 25, 2014

Facebook Will Acquire Virtual Reality Company For $2 Billion

The Oculus Rift virtual reality goggles make for an immersive experience.
Nan Palmero Flickr

Originally published on Tue March 25, 2014 8:27 pm

Facebook announced a pretty big purchase on Tuesday: The social media giant said it was acquiring Oculus VR, a company that makes virtual reality goggles, for $2 billion.

The deal includes $400 million in cash and 23.1 million shares of Facebook, which the company values at $1.6 billion.

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Raising the Wage
1:49 pm
Tue March 25, 2014

Minimum Wage Hike Has Mixed Effects

A new analysis from UConn claims that Connecticut may suffer some real economic pain from the minimum wage increase that went into effect this year.

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State Regulations
1:39 pm
Tue March 25, 2014

Bill Aims to Strike Obsolete Regulations

Credit Hemera Technologies/AbleStock.com / Thinkstock

Governor Dannel Malloy has submitted a bill that would eliminate about a thousand pages of regulation that's currently on the state's books. 

The regulations dealt with in the bill are pretty obscure. Malloy's office has dubbed them obsolete, duplicative or excessively burdensome. 

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Coming Home Project
4:39 pm
Mon March 24, 2014

UConn Business School Recognized in Military Times

Credit Creative Commons

UConn's School of Business is included in a ranking of the top 60 business schools for veterans. This is the second year Military Times issued the ranking after surveying 140 colleges and universities. 

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Ironworker Mentoring
12:42 pm
Mon March 24, 2014

City of Hartford Launches Mentor-Protégé Program

Participants in the City of Hartford's first mentor-protégé program, from left: Ian Howell and his mentor, Nick Bonadies; Joslyn F. Chance and his mentors, Cathy Jo and Barry Cousineau; Shane Kelly and his mentor, Arthur "Chip" Martin.
Credit J Holt

Many cities promote minority and women owned businesses by hiring them to provide services. But Hartford is going one step further -- with a mentoring program. 

Shane Kelly is an ironwork contractor, and his company, Kelly Steel, has been a certified minority-owned business for years. He wants to expand his business into more areas of his industry. "I've been apprehensive, you know," he said. "No one wants to mess up."

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