The state will establish a loan fund for shoreline residents who want to raise their homes out of the flood zone. Thousands of shoreline homes and businesses were damaged or destroyed by flooding just one year ago, during Superstorm Sandy. And for many, that was a second time around, after Tropical Storm Irene the year before.
Our weekly news roundtable The Wheelhouse has a lot on the table, including a Hartford scandal that has turned into yet another dispute over freedom of information. Also, there were hearings earlier this week on the Metro-North outages. So who's to blame, and who's going to pay? We'll also check in with someone who writes about Catholicism. When the new Archbishop in Hartford was announced, he said it was "not a happy day" in the city.
Federal prosecutors served a subpoena on Hartford City Hall last week, and attorneys for Mayor Pedro Segarra are refusing to release it to the public. But a recent case suggests that the city may be violating the state's Freedom of Information laws.
Hartford Mayor Pedro Segarra confirmed that federal agents have served a subpoena on city hall. Segarra said he hasn't read the subpoena and doesn't know what it's for. "I have had a conversation with our legal department," he said. "They informed me that a subpoena was received in connection with a federal investigation. I have not read the subpoena, so I'm not familiar with what the subpoena states, or what it is requesting."
Westfield State University Trustees begin a meeting on Oct.16,2013 to address the status of University President Evan Dobelle. Seated ( l to r) chairman John Flynn, board attorney James Cox, Dobelle, trustee Kevin Queenin
Originally published on Fri October 25, 2013 12:21 pm
The leadership controversy at Westfield State University has deepened with the filing of a federal court lawsuit. Embattled President Evan Dobelle charges trustees and the state’s top higher education official have defamed him.
In our continuing coverage of the missing $670,000 in Hartford insurance premiums, there are at least two main players: city treasurer Adam Cloud, and Earl O'Garro, the CEO of Hybrid Insurance Group. Lots of questions remain unanswered. One is this: What kind of history do the two men have?
Connecticut borrowers with private student loans have one of the highest complaint rates in the nation. The figures have been compiled by consumer rights group ConnPIRG, from the database of the Consumer Financial Protection Bureau.
Originally published on Wed October 23, 2013 6:17 pm
The Massachusetts Higher Education Commissioner addressed the controversy surrounding Westfield State University President Evan Dobelle during a visit to Springfield on Wednesday. Richard Freeland also sounded an alarm about the state’s future ability to produce a properly educated workforce.
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.
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.
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.
The state insurance department has filed an 11-count complaint against Hybrid Insurance Group, the company that has defaulted on a state loan and failed to pay $670,000 in insurance premiums for the City of Hartford. Hybrid's CEO Earl O'Garro has 20 days to respond, and must appear at a hearing scheduled for November 21.
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.
It’s back to work for hundreds of thousands of furloughed government employees. President Obama has signed legislation ending the partial government shutdown and averting a U.S. default. But U.S. Senator Chris Murphy said there’s no reason to celebrate.
Westfield State University in Massachusetts put president Evan Dobelle on administrative leave Thursday and hired a Boston legal firm to investigate his administration. Dobelle was criticized for charging personal expenses on school credit cards and spending lavishly on foreign travel.
Originally published on Wed October 16, 2013 10:23 pm
Update at 10:18 p.m.: House Approves Bill:
The crisis is over. With about two hours before the country reached the debt ceiling, the House has approved the bill and it is now it's way to the White House. We've posted separately on that development and we are putting this live blog to bed.
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.
Earlier this week, we brought you the story of how an insurance firm had failed to pay nearly $700,000 in premiums on the city's behalf. We also told you that the broker has business ties to the family of City Treasurer Adam Cloud. Now, the story apparently has some legs. The Courant has dug into it, as has columnist Kevin Rennie.
A couple of days ago, we told you the story of political name-calling in Hartford that centered around a basic fact: a broker for the city had failed to pay almost $700,000 in insurance premiums on the city's behalf. That broker, Hybrid Insurance Group, has ties to the family of city treasurer Adam Cloud.