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Business news

A new website for Connecticut entrepreneurs aims to launch 500 new companies in the state. The grassroots effort connects inventors with investors and help services.

New York State Gaming Facility Location Board

A New York State Gaming Board Wednesday selected developers and sites for three new casinos to be built upstate. 

The Patrick administration today announced more funding to help strengthen the advanced manufacturing industry in Massachusetts.

       Massachusetts will distribute $1.5 million to be shared by five regional workforce development agencies across the state to help recruit and train 280 unemployed or underemployed people for careers in precision manufacturing.    A vocational high school in western Massachusetts will get $400,000 to equip its machine shop with state of the art equipment.         

Mark Hillary / Creative Commons

It’s the holiday season, meaning it’s time for Americans to hit the stores for Christmas sales and New Year's bargains. This November and December, millions of shoppers will peruse the aisles of big-box stores and chain retailers, hoping to find the coolest gifts and lowest prices.

I See Modern Britain / Creative Commons

According to a recent survey from the National Retail Federation, Thanksgiving sales dropped by 11 percent this year. While this might sound like an alarming figure, some economists would argue that 2014 sales aren't nearly as bad as they seem. 

A federal directive will go into effect Saturday making it easier for some Americans to come up with a down payment to buy a house.

The vast majority of home loans are guaranteed by the government-controlled mortgage giants Fannie Mae and Freddie Mac. The regulator in charge of Fannie and Freddie will allow first-time homebuyers to put down as little as 3 percent.

UTC

Incoming CEO of United Technologies, Greg Hayes, said the company is committed to Connecticut, at least for now. He said the company’s direction remains constant.

"The priorities: it’s the same. Nothing has changed at UTC," Hayes told analysts at an annual business outlook meeting in New York.

Plagued by controversy and sharp drops in attendance and stock prices, SeaWorld has announced that CEO Jim Atchison will step aside.

U-T San Diego reports that the amusement park also plans on cutting an unspecified number of jobs. Atchison, according to the newspaper, will receive a $2.4 million payout and become vice chairman of the board.

Chairman David F. D'Alessandro will take on the job of chief executive officer while a permanent replacement is sought.

More than 400 business owners, contractors, and tradesmen packed a meeting Thursday morning to find out how to bid for work building the MGM Springfield casino. 

MGM officials outlined a construction timetable, explained hiring goals for women, minorities and veterans, and provided contact information. Hunter Clayton, MGM Resorts top construction official said building the casino, hotel, retail stores, restaurants and other amenities is a unique and special project.

Operation Fuel

The number of households unable to afford heating bills in the state will rise again this winter. That’s the message from Operation Fuel, the non-profit that aims to help low-income families with utility bills. 

CPBN

The Hartford Courant presented a Key Issues Forum on Thursday morning in collaboration with the Connecticut Public Broadcasting Network. 

Many things made with paper have become relics because of computers and the Internet: the Rolodex, multivolume encyclopedias, even physical maps.

Now take a look in your mailbox or somewhere around your house. There's a good chance you'll see a shopping catalog, maybe a few of them now that it's the holiday season.

"I ignore them," says Rick Narad, a professor at California State University, Chico. "I get them in the mail sometimes, and they don't make it into the house. I walk past the recycling bin, and they go right in."

Uber is making headlines for all the wrong reasons.

Mike Mozart / Creative Commons

It's official: a gallon of gas now costs less than $3.00 in Connecticut. According to AAA's statewide survey, it's the first time in over four years that the average price has dipped below that mark. 

MGM officials have invited contractors to a meeting this week in Springfield, Massachusetts to discuss the company’s casino construction plans.

At the public meeting Thursday at the MassMutual Convention Center, there will be a presentation about the design and the construction timetable for the $800 million development in downtown Springfield.  Chris Boss, a carpenter from West Springfield said a project of this scope is a once in a lifetime opportunity for people in the construction trades.

UTC Appoints New CFO

Dec 9, 2014
United Technologies

United Technologies is bringing back a long-time executive to serve as chief financial officer.

Akhil Johri succeeds Greg Hayes, who became president and CEO of the conglomerate last month after the unexpected departure of CEO Louis Chenevert. 

University of Connecticut

The University of Connecticut is in negotiations to buy a hotel in Storrs and eventually turn it into a student dormitory.

There's been a dramatic drop in oil production, but it's not barrels of light sweet crude. It's olive oil.

Curtis Cord, publisher of the Olive Oil Times, tells Audie Cornish on All Things Considered there are many reasons why production has fallen so much in Italy and Spain this year.

Ralph H. Baer, the man widely acknowledged as the "father of home video games" for his pioneering work in electronics and television engineering, died on Saturday at his home in Manchester, N.H. He was 92.

Gasoline prices are at their lowest level in four years. The price at the pump in many states is almost a full dollar cheaper than it was last spring.

So some politicians think this is a good time to raise gasoline taxes. Several states are tired of waiting for Congress to fix the federal highway trust fund, so they're considering raising gas taxes themselves to address their crumbling roads.

DanielPenfield / Creative Commons

The Wall Street Journal is the first to take a guess at the mystery surrounding the departure of United Technologies CEO Louis Chenevert.

The paper reported this weekend that the company board engineered his abrupt ouster because of concerns that he was spending too much time on his private interests.

The Patrick administration has awarded funding to help train people for jobs in the new Massachusetts casino industry. 

Holyoke Community College is getting a $1.75 million grant to build a Center for Hospitality and Culinary Excellence that will be used in part to prepare people for casino-related jobs.  HCC President William Messner has led the effort to partner with the casino industry on workforce development.

" We see this as simply an extension of our tradition, of our mission to provide first class training for businesses and organizations."

Here's a fact that might surprise you: All of the top 10 U.S. companies that were born on the Internet — including Google, Amazon and eBay — have overseas corporate headquarters in Ireland.

The American tech sector is huge in Ireland. It's growing rapidly — and having a huge impact on life there.

But the tax system that's fueling the growth is also infuriating some people in the U.S. and Europe — and has Ireland reconsidering its tax code.

A City, And Country, Transformed

As 2014 winds down, you might want to save that calendar hanging next to the fridge.

Maybe even frame it.

After so many years of misery for the middle class, 2014 is now looking like the one that finally brought relief. The November jobs report, released Friday by the Labor Department, had blowout numbers showing a surge in job creation, an upturn in work hours and a meaningful boost in wages.

Library of Congress

A bill that would make Hartford’s Coltsville into a national park has passed in the U.S. House. 

Turner Construction

A group of small, independent hospitals in Connecticut said the increasing cost of providing health care coupled with lower reimbursement rates from insurance providers and the government is making it harder for them to survive, and they’re seeking help from state lawmakers.

Kate Ter Haar / Creative Commons

A West Hartford law firm has filed suit against several independent electric suppliers in the state, accusing them of price gouging and deceptive business practices. 

When Ronaldo Mouchawar was working in a Boston engineering firm he dreamed of moving back to the Arab world. Born and raised in Aleppo, Syria, he had come to the U.S. to study, then got a high-paying job, but he believed he "owed something" to his home region.

It turned out his ticket back was a smart idea at the right time.

It's one of the biggest ironies of NBC's gamble tonight with the blockbuster production Peter Pan Live!

This incredibly earnest TV musical just might succeed if enough people hate it.

Farmington Avenue Alliance

Will a McDonald's open in Hartford's West End? Not if neighbors and the city of Hartford have their way. 

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