Business news

Deadline Passes for Connecticut Tribal Casino Proposals

Nov 6, 2015
Bill Lile / Creative Commons

Connecticut communities interested in hosting a new tribal casino faced a closing date to submit their proposals.

Massachusetts gaming industry regulators are soliciting public comment on MGM’s proposed changes to the Springfield casino project.

In its most recent regulatory filing on the design changes, MGM says it expects as much as an 8 percent drop in casino traffic.

Gaming Commission Chairman Stephen Crosby and the other commissioners want to know the reasons for the proposed changes and the possible impact on jobs and revenue.

Pratt and Whitney

Connecticut defense contractors will soon have an opportunity to meet other businesses and government officials to boost exports and develop global business relationships.

Rep. Joe Courtney and Anne Evans, district director of the U.S. Department of Commerce in Connecticut, said an Aerospace and Defense International Trade Summit is scheduled for Nov. 8-10 in Mystic.

The top executive from MGM Resorts International reaffirmed his commitment to the Massachusetts casino project in Springfield this week and apologized for a communications breakdown with City Hall over a proposal to reduce the scope of the development. He also said more changes are in store for the $800 million project, but nothing he would consider major.

Known for its talented writers and in-depth reporting, ESPN's sports and culture website, Grantland, was suddenly shut down early Friday afternoon.

The sports media giant released a statement, saying Grantland was suspended, "effective immediately." The statement reads, in part:

"After careful consideration, we have decided to direct our time and energy going forward to projects that we believe will have a broader and more significant impact across our enterprise.

MGM Springfield

The head of MGM Resorts said the company made a mistake by not communicating a 14 percent reduction in size of the casino project to Springfield leaders.

After what Mayor Domenic Sarno described as “a frank discussion”, he said he accepts MGM’s apology for not giving him a heads-up about the casino design changes. MGM Resorts CEO Jim Murren took the blame.

People entering North Adams will soon see new signs that highlight the past, present and future of Massachusetts’ smallest city.

The U.S. economy grew at a considerably slower pace during the third quarter as companies cut back on the size of their inventories, the Commerce Department said.

Growth came in at an annual rate of 1.5 percent — a sharp slowdown from the 3.9 percent gain recorded in the preceding quarter. The economy has grown at about 2 percent so far this year.

Niall Kennedy / Creative Commons

Pratt & Whitney has congratulated Northrup Grumman on winning the contract to make the military’s next generation stealth bomber, but it still isn’t clear if the East Hartford jet engine maker will benefit. 

About 55 miles east of Capitol Hill, one small business — International Green Structures — is trying to stretch beyond its base in Stevensville, Md., to go global.

IGS, which has about 50 factory workers, makes fiberboard out of compressed wheat. The panels, used to build durable housing, are both "green" and red-white-and-blue-American-made.

Uber has shaken up what it takes to get from point A to point B in cities across the country with a simple premise: If you need a ride, a driver nearby could pick you up within minutes.

Behind that idea is an algorithm, which promises to keep supply and demand in constant balance, encouraging drivers toward busy areas and tempering customer requests by increasing the price of each ride. It's called surge pricing.

glegorly/iStock / Thinkstock

Federal labor officials said the unemployment rate in New England held steady in September at 4.6 percent.

Wikimedia / Creative Commons

A proposal to build a casino at Bradley International Airport to compete with a casino planned for nearby Springfield, Massachusetts, suffered a setback when Windsor Locks selectmen rejected the idea.

Back9Network / Creative Commons

A husband and wife who allege they were duped into investing in the Back9Network now say that one of their signatures related to an investment was forged, and the dispute is playing out in state court. 

Tax Credits / Creative Commons

Are you wondering whether to buy or rent a home? Or how much to save for your child’s education? How much should you set aside for retirement, depending on your age? 

Volkswagen admitted it intentionally cheated on federal emissions tests. The German automaker now faces billions of dollars in fines and litigation, plus the cost of fixing some 11 million diesel cars worldwide.

That's just the company. The scandal is costing owners, too — at least those who are trying to sell their VW diesels. Not surprisingly, resale prices for the affected cars have been falling.

In America's fine-dining restaurants, how much workers get paid is closely correlated to the color of their skin.

Ryan Caron King / WNPR

After eight years without transatlantic flights, Bradley International Airport is expanding its international boundaries beyond Canada and Mexico. Starting next September, Connecticut travelers will once again be able to jet over the Atlantic Ocean without first driving to New York or Boston.

If you've bought a bottle of nice wine recently, you'll know that the costs have gone up. And the price of really fine wines – the ones that cost at least several hundred dollars – have doubled, tripled and more over the past few years.

As prices rise, so, too, do the number of thefts.

Prima restaurant in Walnut Grove, Calif., has a celebrated wine list, with a number of Bordeauxs and Burgundies that can set you back several thousand dollars. Thieves have successfully targeted those wines several times now.

Ryan Caron King / WNPR

Aer Lingus has announced it's establishing nonstop service between Dublin and Bradley International Airport serving Connecticut and western Massachusetts.

In a message to employees that was posted online, ESPN CEO John Skipper announced that the company would be making "organizational changes" that include the "elimination of a number of positions, impacting friends and colleagues across the organization."

A source at ESPN confirmed to NPR that the number of eliminated positions would be around 300, approximately 4 percent of the channel's 8,000-person workforce.

Flazingo Photos / Creative Commons

Unemployment among teenagers and young people in Connecticut stands at historic highs. New research suggests that those who suffer periods of unemployment early in their careers pay a penalty in terms of lowered earnings decades into their careers.

MGM wants to shrink by 14 percent its proposed resort casino development in Springfield, Massachusetts. The proposal surprised and angered the city’s mayor, who has been one of the project’s biggest boosters.

Uber Pushing To Expand To Upstate, Long Island

Oct 21, 2015

  The ride sharing service Uber, which already operates in New York City, is making a big push to move into upstate and Long Island. But that would require state lawmakers to take action.

Uber officials, armed with a study that says 13,000 new jobs could be created if Uber is allowed in all of New York, came to the State Capitol to make their case. They have started an online petition and ad campaign to help convince the state legislature to pass laws to allow the service to operate .

More controversial changes have been proposed in the MGM casino project planned in downtown Springfield

MGM Springfield President Mike Mathis described the latest changes that will reduce the scope of the project by 14 percent as “tweaks.”

He said MGM will still spend in excess of $800 million to build the resort casino and he said the downsizing, will not impact jobs and projected revenue.

" So, we believe the project we are going to deliver will continue to evolve and will be a world class project," said Mathis.

Springfield, Massachusetts city officials were blindsided by the proposed downsizing of the MGM casino project. 

Springfield city officials Tuesday said they are concerned about the potential impact on revenue and jobs from the 14 percent reduction in the scope of the casino project.  Most of the downsizing is planned on the retail and entertainment side, not the gambling floor. 

Mayor Domenic Sarno vowed to hold MGM to its promises to deliver thousands of jobs and $25 million annually to the city.

Creative Commons

Bradley International Airport is once again to get a transatlantic flight. Governor Dannel Malloy is expected to announce on Wednesday that Irish carrier Aer Lingus will add service between Hartford and Dublin soon. 

MGM is scaling down the size of the proposed resort casino project in Springfield, Massachusetts

MGM is reducing the size of the project by 122,000 square feet according to a revised environmental impact report filed with the state.  

Although no change is planned in the size of the casino gambling floor there would be downsizing in the retail, dining and entertainment parts of the project.

Earlier MGM scrapped a planned 25-story hotel.

Springfield City Council President Mike Fenton said once again city leaders were caught off guard by MGM.

Peteg913 (Wikimedia Commons)

The leader of the Connecticut Airport Authority said he wants to bring a casino to Bradley International Airport. 

michael / Creative Commons

Connecticut's Consumer Counsel is advising that Connecticut residents who buy electricity from third-party retail electric suppliers should take a close look at their bills this month.