finance

O.H. Bailey and Co. / Norman B. Leventhal Map Center at Boston Public Library

A Republican state representative in Rhode Island received maps of Providence dating back to 1882 as part of a public records request for information about the state's plan to install truck tolls. But information about possible toll locations was not included in the bundle of documents.

Jeff Cohen / WNPR

Hartford city Treasurer Adam Cloud said he will give back a $20,000 raise that neither the mayor nor the city council remembers approving.

Senado Federal / Flickr

It goes by many names: the sharing economy, the collaborative economy, the peer economy, just to name a few. Whatever you want to call it, one thing's for sure: this new way of doing business -- where idle assets equal big profits, and the hard-earned currency of trust comes through user reviews -- is changing the economic landscape of our country.

One day after he was arrested on fraud charges, controversial drug executive Martin Shkreli has resigned his post as the leader of Turing Pharmaceuticals. Shkreli is currently free on bail.

Turing announced the change Friday, naming Ron Tilles, its current board chairman, as the interim chief executive officer.

"We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors," Tilles said in a statement about the move.

Mike Grauer Jr, Creative Commons

Vin Baker was an Olympic basketball player and four-time NBA All Star. The journey from University of Hartford to professional basketball got him rich quick, but it was a lifestyle he couldn't keep up with.

Baker's struggle with alcoholism is well-documented, as is the fact he blew through $100 million. He lost his home and restaurant.

Former NBA Player Vin Baker: From Big Bucks to Starbucks

Dec 17, 2015
Lipofsky Basketballphoto.com

Vin Baker, who grew up in Old Saybrook, was a four-time NBA All-Star player. He attended the University of Hartford and eventually became an Olympian. He went from relative obscurity to the big time in a flash. 

Ryan Caron King / WNPR

The off-the-air Back9Network allegedly didn't pay rent for things like video equipment and a robotic camera, according to a new lawsuit filed in state court. 

uconn.edu

The University of Connecticut's Board of Trustees has raised tuition by more than 30 percent over four years.

The two largest chemical companies in America will become one entity named DowDuPont, as Dow Chemical and DuPont say they're joining in a "merger of equals." The new company will have a market capitalization of around $130 billion.

After the merger, the resulting behemoth would be split into what Dow Chairman and CEO Andrew Liveris calls "three powerful new companies," with a combined revenue of around $83 billion.

Jeff Cohen / WNPR

Failed insurance executive Earl O’Garro took hundreds of thousands of dollars from the city of Hartford as part of an effort to enrich himself and buy a million-dollar beachfront condo in the Dominican Republic, prosecutors alleged during the first day of O’Garro’s federal trial Tuesday.

Jeff Cohen / WNPR

The federal criminal trial of a former insurance executive who brought unwanted attention to Hartford City Hall begins this week. 

UConn Today flickr.com/photos/uconntoday/6213709043 / Creative Commons

University of Connecticut officials plan to raise tuition by more than $3,000 for in-state students and $4,000 for out-of-state students over the next four years.

Puerto Rico has managed to make a payment due today on its bond debt, but officials are warning that the commonwealth's fiscal position remains tenuous.

As a result, the government will have to pay for essential government services by using money budgeted for upcoming debt payments, said Melba Acosta Febo, president of the Government Development Bank for Puerto Rico, in a statement. She added:

Consumers seeking health policies with the most freedom in choosing doctors and hospitals are finding far fewer of those plans on the insurance marketplaces. And the premiums are rising faster than for other types of coverage.

The U.S. drug giant Pfizer and its smaller rival Allergan have agreed to merge, creating the world's biggest pharmaceutical company by sales.

The $160 billion deal is the largest example so far of a corporate inversion, in which a U.S. company merges with a foreign company and shifts its domicile overseas in order to lower its corporate taxes.

Tax Credits / Flickr 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? 

Ryan Caron King / WNPR

Governor Dannel Malloy has rolled out more support for his fresh look at the Connecticut state pensions system, but he’s still getting pushback from some of the state's constitutional officers.

The Senate passed a bill at 3:12 a.m. ET Friday that would raise the debt ceiling and fund the government into 2017. This means that there would be no fiscal standoffs and threats of government shutdown for more than a year.

The measure is now on its way to the White House for President Obama's signature, NPR's Ailsa Chang reports for the Newscast unit:

"For months, there was real concern the looming Nov. 3 deadline to lift the debt ceiling was going to send Congress into crisis mode, right when it was picking a new speaker of the House.

Ryan Caron King / WNPR

In the middle of bipartisan negotiations with state lawmakers over a gap in the current year budget, Governor Dannel Malloy's administration unveiled a new series of measures aimed at making the state budget more sustainable in the long run. But the problem and the fix are so complicated that he called it "a little mind-bending" in a meeting with reporters.

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? 

Alex Baker Photography

Many churches around the country are struggling with declining attendance, prompting some interesting questions and conversations. Is it the message? A sign of the times? The church’s mission? Maybe it’s past controversies. 

Flazingo Photos flazingo.com / 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.

Ryan Caron King / WNPR

Governor Dannel Malloy is calling the leadership of both parties in the General Assembly to meet him for talks on the state's budget crisis. 

Jeff Cohen / WNPR

Hartford's development director has resigned amid an investigation into allegations the city was overbilled on a project to redevelop a soccer stadium. 

Americans collectively are losing billions of dollars a year out of their retirement accounts because they're paying excessive fees, according to researchers studying thousands of employer-sponsored retirement plans across the country.

The rearchers say part of the trouble is that many employers that offer 401(k) plans to their workers are outgunned by financial firms that sell them bad plans loaded with hefty fees. That's especially true, they say, for small and midsize employers that don't have much financial expertise in-house.

David DesRoches / WNPR

As a junior in high school, Michael Beale had a candy business that was pretty successful. But it wasn't exactly a school-sanctioned activity.

"Let's just say it was off the school's books," Beale said, speaking at a recent financial literacy event in East Hartford. Eventually the school shut down his black market sweets operation, but it didn't stop his desire to learn more about personal finance.

Four companies running urgent care centers in New York have agreed to disclose more fully which insurance plans they accept, following an inquiry by the state's attorney general that found unclear or incomplete information on their websites that could result in larger-than-expected bills for consumers.

Jeff Cohen / WNPR

The president of Hartford's City Council is calling for the termination of the city's development director, after a deal to build a new professional soccer facility collapsed and the city apparently overpaid for work at Dillon Stadium.

Heather Brandon / WNPR

The plan to build a professional soccer stadium in Hartford is now officially dead, but the controversy around it isn't.

On Campus, Older Faculty Keep On Keepin' On

Oct 9, 2015

Ken Nickerson could have retired from his job as a professor of biological sciences at the University of Nebraska, Lincoln 10 years ago, when he turned 62.

He could have retired five years ago, when the university offered faculty a year's salary to step down as part of a buyout to encourage more of them to leave.

He could have retired last year, when, in yet another buyout offer, administrators dangled the equivalent of 90 percent of one full year's salary in front of faculty who would finally agree to go.

But Nickerson stayed.

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