Business

Massachusetts Casinos
9:59 pm
Tue November 5, 2013

Mohegans Seek Recount After Palmer Rejects Casino Plan

An artist's rendering of Mohegan Sun's planned Palmer resort casino

Mohegan Sun said it will seek a recount in Palmer, Massachusetts, after the town rejected its billion-dollar resort casino plan. The proposal was defeated by just 93 votes: 2,657 for, to 2,564 against.

The Connecticut-based casino giant had been planning to bid for the western Massachusetts license early next year. The defeat means that MGM's plan to build a casino in downtown Springfield will be the only bidder for the western Massachusetts license.

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Technology
4:12 pm
Tue November 5, 2013

Twitter Looks To Its News Role In Upcoming IPO

Screenshot of Twitter feed.

Expectations are high this week as Twitter gets ready to go public.

The company raised its initial public offering price yesterday to $25 a share, up from $23. That would put the company’s value at around$13.6 billion — almost 12 times the value of its projected 2014 sales.

Twitter has 230 million users and not all of them are following Lady Gaga or Justin Bieber. A new Pew study shows 8 percent of Americans use Twitter to get news.

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Code or be Coded
1:59 pm
Tue November 5, 2013

Bill Clinton, Mark Zuckerberg and Snoop Dogg Agree: Learn to Code

More and more sites are popping up that teach people how to code.
Ben Simo Creative Commons

It may not be enough anymore to just be tech-literate. There is a mainstream push to teach people, both kids and adults alike, to be code-literate. On an episode of Where We Live, there was a discussion with people who code, making the case for more code education.

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Supporting Entrepreneurs
8:54 am
Tue November 5, 2013

State's Entrepreneur Ecosystem Awards Second Round of Funding

The B:Hive co-working space in Bridgeport.
Credit B:Hive

Five million dollars in state funding has been awarded to more than 20 organizations that will promote start-up businesses in Connecticut through the state's entrepreneurial ecosystem. CT Next was launched a year ago to try to create a climate that would support entrepreneurs and foster successful startup businesses. But the first year got off to a slow start, and there was disagreement about who should take the lead in developing the ecosystem.

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Housing Market
3:15 pm
Mon November 4, 2013

Connecticut Home Sales Up Again in September

Credit Creative Commons

Connecticut saw a boost in home sales in September. According to the Warren Group, a Boston-based real estate data firm, 2,326 single family homes sold in the state in the month. That’s up 21.4 percent from September of 2012.

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Where We Live
10:04 am
Mon November 4, 2013

What Do You Mean, Coding?

Code education is being pushed by politicians, CEOs and basketball stars alike.
Credit Ben Simo / Creative Commons

Our schools teach a variety of foreign languages: Spanish, French, even Latin. But should we be focusing on the language of computer programming? Even NBA star Chris Bosh is asking everyone from young kids to the homeless to learn to code. Why aren’t we teaching it more? It seems like President Obama needs an army of coders to fix the glitchy HealthCare.gov website.

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Supporting Entrepreneurs
11:32 am
Thu October 31, 2013

New Business Incubator at Fairfield University is a Place to Network

The incubator aims to help future entrepreneurs, such as, from left to right: Jamie Ramerini and Daphne Dixon, both of Fairfield, who are working on home automation; and Nicole Juliano Peranick of Stamford, founder of Conscious Decisions.
Fairfield University

Businesses need somewhere to start out in life, and incubators are an increasingly popular solution. The new business incubator at Fairfield University aims to foster links with the community.

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The Colin McEnroe Show
4:10 pm
Wed October 30, 2013

Is Work the Best Place to Work?

David Arai is the president of Maier Design Group
Chion Wolf

I've been writing a newspaper column for The Hartford Courant since 1982. For my first 15 years or so, I tended to write the column at The Hartford Courant. In the last ten years, I have written columns in the following places: a sports bar in San Francisco; a boat moving along the Rhine; the famous Brasserie Balzar in Paris; an outdoor clearing in the Yucatan jungle where, bizarrely, there was WiFi; and a living room in Kobe, Japan.

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Sandy Recovery
10:10 am
Tue October 29, 2013

Popular Connecticut Eatery, Damaged in Sandy, to Be Demolished -- and Rebuilt

Umbrellas over Dock & Dine's patio over the Connecticut River. Prior to Sandy, the space was an enclosed dining room.
J Holt

As they contemplate the first anniversary of super storm Sandy, some shore dwellers have given up and moved inland. Others are still determined to rebuild and continue. One shoreline restaurant is about to embark on its second major comeback.

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Host's Diary
5:24 pm
Mon October 28, 2013

What's the Physical Space Like Where You Work?

Depressing Cambridge University cubicles.
Credit cmglee / Creative Commons

We're working on a show about whether work is the best place to do work. So we're nosy interested in how you feel about the physical spaces at your job. 

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Occupational Safety
11:45 am
Thu October 24, 2013

Trucking Company Violated Whistleblower Laws

Two Palumbo Trucking workers reported a potentially unsafe truck to police and the DMV in 2012.
Credit Veronica538 / Creative Commons

A North Branford trucking company has been ordered to withdraw a lawsuit against two former employees who blew the whistle on dubious safety practices at the business. The Occupational Safety and Health Administration ordered Palumbo Trucking, and owner David Palumbo, to withdraw a retaliatory lawsuit that the company filed against two former workers. 

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Courts
8:36 am
Thu October 24, 2013

Bank Of America Liable For Fraud In Countrywide Mortgages

The Countrywide Banking and Home Loans office in Glendale, Calif., in an April 2007 photo.
Damian Dovarganes AP

Originally published on Wed October 23, 2013 6:59 pm

A Manhattan jury has held Bank of America liable for fraud related to bad loans its Countrywide Financial Corp. unit sold to Fannie Mae and Freddie Mac as the housing market soured.

The verdict was returned on Wednesday after several hours of deliberation in a month-long trial that focused on loans Countrywide completed in 2007 and 2008, as the housing crisis was already underway. Countrywide was acquired by Bank of America in 2008.

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Defense
7:15 am
Wed October 23, 2013

United Technologies Beats Street, But Sees Defense Downside

Credit DanielPenfield / Creative Commons

United Technologies reported a boost in third quarter earnings of 13 percent, at $1.55 per share, beating analysts' expectations. The Hartford-based conglomerate trimmed its full-year revenue estimates, however, because of the government shutdown and cuts in military spending.

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Banking
4:21 pm
Tue October 22, 2013

Study: Community Banks Essential, But Challenged

Credit TWP / Creative Commons

Community banks are a vital part of the credit landscape, according to a new report. Despite their popularity with customers, their numbers are shrinking. Federal regulators joined with state authorities to take an in depth look at community banking around the country in what's being viewed as the most comprehensive study of its kind. 

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Real Estate
11:08 am
Mon October 21, 2013

Existing Home Sales Dip After Hitting 4-Year High

A sold sign in Chicago earlier this year.
Scott Olson Getty Images

There were 1.9 percent fewer existing homes sold in September than in August, the National Association of Realtors said Monday.

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Spotting Talent
8:04 am
Mon October 21, 2013

Manufacturing Event Targets Future Workforce for Connecticut-Made Products

The Connecticut Center for Advanced Technology, Inc. had several 3D printers on display.
Sujata Srinivasan

October is “Manufacturing Month” in Connecticut, and efforts are underway to create the next generation of engineers and innovators as part of the state’s “Dream It. Do It” program. Companies, nonprofits, academic institutions and the state government are working together to promote the high-tech sector to youngsters through month-long events such as “Manufacturing Mania,” where school kids are exposed to manufacturers and career opportunities.

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Earnings
1:29 pm
Fri October 18, 2013

General Electric Reports Fallen Profits, But Record Backlog

The afterburner of a General Eletric J79 turbojet engine. The company reports a large order backlog helping to offset a slump in profits in the third quarter.
Credit Threecharlie / Wikimedia Commons

General Electric saw a fall in third quarter profits, but investors sent shares up anyway, because of a record backlog of orders for the company.

Fairfield-based GE is considered a bellwether for the U.S. economy because of its wide reach across many industries. In the third quarter, profits fell by 18 percent to just over $3 billion, brought down by a fall in revenues at GE Capital, the conglomerate’s finance arm. The numbers were also hit by the expense of foreign currency transactions.

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Access Health CT
11:47 am
Fri October 18, 2013

State Health Plan Enrollees Skew Older

Access Health CT estimated early on that about a third of its enrollees would be 35 or younger.
Credit Heptagon / Wikimedia Commons

The latest figures from Access Health CT, the state's health care exchange, show 3,847 have signed up for plans. About half of those will be eligible for Medicaid under the state's Husky program.

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Earnings
4:50 pm
Thu October 17, 2013

Stanley Black & Decker Sees Shutdown Impact

Credit TT Zop / Wikimedia Commons

Stanley Black & Decker has lowered its profits forecast for the full year, saying that the real economic impact from the government shutdown is one factor in its prediction.

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Economy
2:35 pm
Wed October 16, 2013

State Regulation Under Review

Governor Dannel Malloy during a visit to WNPR.
Credit Chion Wolf / WNPR

Connecticut is preparing to undertake a searching review of state regulations. Governor Dannel Malloy sees it as a way to kickstart economic growth.

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Technology
2:37 am
Tue October 15, 2013

A Company's Tweets Can Help Make It Creditworthy

Courtesy of Kabbage

Originally published on Tue October 15, 2013 1:25 pm

For many online and other small businesses, getting a loan or a big cash advance is tough. Banks and other traditional lenders are often leery of those without years of financial statements and solid credit scores.

But some lenders and other financial services companies are beginning to assess credit risk differently — using criteria you might not expect.

Jeffrey Grossman is an acupuncturist in Bellingham, Wash. He's also a small businessman. He creates media marketing materials for other acupuncturists hoping to expand their practice.

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Government Shutdown
1:47 pm
Mon October 14, 2013

Shutdown Puts Small Businesses in Tight Spot

Manon Cox of Protein Sciences is impacted by the government shutdown on the regulatory front.
Sujata Srinivasan

The ripple effects of the government shutdown are starting to extend beyond federal employees into the private industry. Small businesses are bracing for a range of issues from delayed regulatory approvals to a possible crunch in cash flow.

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Stock Market
9:45 am
Mon October 14, 2013

Economics Nobel: Nobody Knows What Stocks Are Going To Do Today

The Nobel Foundation

If you want to honor today's Nobel laureates in economics, turn off CNBC and ignore everyone who says they know what the stock market is going to do today, tomorrow, or next week.

The award went to three economists — Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller — for their work studying asset prices.

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Another Nobel Comes to New Haven
7:17 am
Mon October 14, 2013

Yale's Shiller Shares Nobel Economics Prize

Robert Shiller
Credit M. Hager. © World Economic Forum swiss-image.ch via Wikimedia Commons

Americans Robert Shiller, Eugene Fama, and Lars Peter Hansen have won the Nobel Memorial Prize in Economic Sciences.

The Royal Swedish Academy of Sciences on Monday honored the three "for their empirical analysis of asset prices." The Nobel committees have now announced all six of the annual $1.2 million awards for 2013.

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International Hartford
1:52 pm
Fri October 11, 2013

Hartford Boosts Immigrant Entrepreneurs

Park Street in Hartford.
Credit Tucker Ives / WNPR

People who immigrate to the United States are twice as likely as native born Americans to start their own businesses. A new organization in Hartford says that entrepreneurial spirit needs to be fostered to help the city's economy.

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Housing
3:44 pm
Thu October 10, 2013

Boost in Connecticut Home Sales During August

A house in Clinton.
Credit Doug Kerr / Flickr Creative Commons

August saw a big boost in home sales in Connecticut, with 2,893 homes sold that month. It's the highest number of single family homes sold for that month in six years, up ten percent from the same month in 2012.

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Government Shutdown
3:54 pm
Wed October 9, 2013

How The Shutdown Is Hurting The Housing Market

If interest rates go up due to the fear or reality of a debt default that would have major consequences for real estate sales.
Steven Senne AP

Originally published on Thu October 10, 2013 8:57 am

As with so many other types of economic activity, the government shutdown is causing more fear than actual harm in the housing market thus far.

But that doesn't mean things won't start going wrong in the very near future.

Various federal agencies play greater or lesser roles in real estate transactions. With most of them sidelined, simple matters such as closing on mortgages are becoming more complicated.

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Essential Workers
8:23 am
Wed October 9, 2013

Some Bradley Airport Workers are on the Job Without Pay

Credit redlegsfan21 / Wikimedia Commons

On the surface, air travel appears very much the same as it did before the government shutdown. But there have been big changes behind the scenes. Even when there isn't a government shutdown in effect, most people involved in putting planes in the air are invisible to travelers.

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Coming Home Project
3:38 pm
Tue October 8, 2013

UConn Business Program for Veterans Begins Fourth Year

Michael Zacchea, Director of UConn's Entrepreneurship Bootcamp for Veterans with Disabilities program.
Credit Chion Wolf / WNPR

The national unemployment rate for veterans has improved in recent years, hovering around the civilian rate of seven percent. At the height of the recession, returning Iraq and Afghanistan war veterans were unemployed at nearly double the rate of non-veterans. A host of programs have been created to help former servicemembers support themselves after their military service ended. 

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Patents
9:53 am
Tue October 8, 2013

Three Connecticut Companies are Listed World's Most Innovative

United Technologies Corporation headquarters in Hartford. UTC is one of the companies named most innovative.
Credit DanielPenfield / Creative Commons

Three Connecticut companies made the list of the world's most innovative companies. The ranking comes from Thomson Reuters, which issues an annual list of the top 100 global innovators.

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