Vibram USA — the maker of those shoes that look more like rubber gloves with separate compartments for each toe — has agreed to pay $3.5 million settlement in a class action suit for allegedly misleading their customers.
The lawsuit was brought by a woman who says the shoe company claimed to decrease foot injuries and strengthen foot muscles, but had no scientific research to prove it.
Hartford has the highest rate of underwater mortgages in the country, according to a new report that says communities of color are most likely to owe more on their mortgages than their homes are worth. But the city administration disputes the data on which the study is based.
Media industry veteran Jarl Mohn will be NPR's new CEO, the organization's board of directors has announced.
Mohn, 62, currently sits on the board of directors at several media organizations, including Scripps Networks Interactive and Web analytics company ComScore. He is also on the boards of KPCC Southern California Public Radio and the USC Annenberg School for Communication and Journalism.
Announcing the hire, Kit Jensen, who chairs NPR's board of directors, said Mohn has "an ability to find nuanced and new ideas." He is slated to start work at NPR on July 1.
Companies that supply planes and engines to commercial airlines are about to see a boom in business unlike anything that the industry can remember. There are more customers than ever before for airline flights, and alongside that, engine technology has taken a big leap forward. That means unprecedented investment, and Connecticut is at the epicenter of that change.
After decades of stagnant incomes, the inability to save, and disappearing pensions, 75 percent of Americans nearing retirement have less than $30,000 saved, which won’t last long. One third of Connecticut residents are baby boomers -- a big demographic that is headed straight towards retirement. In fact, Connecticut’s population of 65 and up is growing ten times faster than the general population.
Michael Sayman is a 17-year-old game developer from Miami, whose app — 4 Snaps — has been going strong in the iTunes App Store. Sayman was highlighted at Facebook's development conference last week by Mark Zuckerberg. He graduates from high school this month and starts an internship at Facebook headquarters later this summer. Sayman spoke with Tell Me More about his app, how he used the proceeds to help his family and how some schools and teachers are overlooking the importance of tech.
As May begins, Connecticut's tourism industry is gearing up in earnest for the summer season ahead. And there's cautious optimism that receipts may be up once again this year. One Old Saybrook business is investing in the future.
Okay, here's a borrowed analogy. My grandmother talked about the light bill to refer to what you call the electricity bill. And, that's because she lived at a time when literally, that's all electricity did-power the lights. And now, all sorts of things run on that same power.
As World War II came to a close, manufacturing in Connecticut employed close to half the state's working population. Now it accounts for only eleven percent of employment. That dramatic decline over half a century is due to one irresistible force: off-shoring, and the loss of work to cheaper labor markets in Asia. But that force may not be so irresistible after all.
Google, Intel, Facebook and many other tech giants are pooling their money together — for the first time — to fix a glaring hole in cybersecurity. They're launching a multimillion-dollar fund to protect open-source code — the code that anyone can use for free, and that often gets overused and underprotected.
Changes in technology, energy and world labor markets are all driving a manufacturing renaissance in the U.S., but some economists believe Connecticut may miss out, despite its storied history as a manufacturing state.
Originally published on Tue April 22, 2014 10:11 am
Netflix, buoyed by its foray into original productions such as the political drama House of Cards, said Monday it has added 2.25 million new customers and plans to raise its new-subscriptions rate by $1 or $2 a month.
The video streaming service reported first quarter earnings of $53 million, or 86 cents a share. Its share price surged by 6 percent following the announcement of earnings that compared with $2.7 million in the same period a year ago.
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.
The members of the UMass Amherst led research team say initial results will be reported to the Massachusetts Gaming Commission in September. These findings will be the baseline that will be used to measure changes in problem gambling, domestic violence, housing prices and a host of other socio-economic factors as casinos open over the next one to three years.
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.