finance

Cash Flow
2:53 pm
Fri May 27, 2011

Budget Officials Get a Second Surge of Unexpected Money

It almost sounds too good to be true: state budget officials, who already saw revenues surge by nearly $400 million over the past month, now say anticipated savings in retired worker health care costs have grown by some $100 million in the same period.

And though Comptroller Kevin P. Lembo said his office was somewhat conservative in assessing the account that it controls, he added that a number of factors made the $117.4 million savings--equal to nearly 20 percent of the entire annual allocation--difficult to predict before now.

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Commuter Rail
12:46 pm
Tue May 17, 2011

State Gets $40 Million For New Haven-Springfield Rail Project

Mark Fischer Flickr Creative Commons

Connecticut has secured $40 million for its high speed rail project from New Haven to Springfield from the federal government. The money will be used to lay additional tracks.

When it comes to getting federal money, Judd Everhart with Connecticut's Department of Transportation says red tape can really slow things down.

"This grant was originally announced last year by then-governor Rell and that just gives you a sense of how long these kinds of things can take," Everhart says.

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Commuter Rail
4:04 pm
Fri May 13, 2011

Connecticut Receives $30 Million for New Haven-Springfield Line

WNPR/Nancy Cohen

The New Haven to Springfield high speed rail line snagged $30 million in federal funding today. But that's far less than the $227 million Connecticut was hoping for.

Governor Dannel Malloy says he's not disappointed with the pay-out.

"You ask for a lot money in the hopes that you're going to get it. Amtrak asked for a lot more than they're getting. Everybody asked for more than they're getting," Malloy says. "No, I'm feeling great. We're going to compete time and time again. We're going to be in those fights. And we're not going to take passes."

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Commuter Rail
2:58 pm
Fri May 13, 2011

Meriden Revitalizes as New Haven-Springfield Rail Line Chugs Closer

flicker user smaedli

Earlier this week, Connecticut received $30 million federal dollars for the New Haven to Springfield rail project. As the money starts to trickle in, WNPR is checking in with a few towns along the line to see how they're preparing. The first stop is Meriden, a city well on its way to welcoming the train.

Meriden's downtown isn't that different from those in other industrial towns in Connecticut. After manufacturing dried up, retail fled to the malls and slowly, all that was left behind started to crumble.

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Where We Live
10:53 am
Tue April 12, 2011

Financial Literacy and Connecticut's Kids

Chion Wolf

We’re struggling to get out of a recession, caused in part by borrowing way too much.  So, if grown-ups can’t manage their money – how should we expect kids to?

Many financial experts say that children aren’t learning the right lessons about how to handle their money.  Here’s an example: A recent study finds that today’s parents are “incredibly lenient” about handing their children extra money – you know, that 20 dollars to go see a movie, over and above their allowance.

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Housing
6:38 pm
Mon April 11, 2011

East Granby Woman Avoids Foreclosure With the Help of Friends and Facebook

Chion Wolf Photo

An East Granby woman was close to losing her home after falling behind on mortgage payments while she was unemployed.

Joan Wright-Lee found a new job but needed to raise $6000 to keep her home.
That's when her friends stepped in and created a website soliciting donations online. And through the power of Facebook, her story has been shared around the Internet thanks to her Facebook friends who posted her website address on their profile walls.

Wright-Lee spoke to WNPR's Lucy Nalpathanchil about this unconventional way to avoid foreclosure.

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Growing New Small Businesses
10:34 am
Mon April 4, 2011

Pfizer Layoff A Biotech Opportunity?

Harriet Jones

Over the next year or so, Pfizer will lay off more than a thousand people in Connecticut. If most of these highly skilled workers leave the state it’s estimated the hit to the local economy could be more than $100 million annually. WNPR’s Harriet Jones reports on the prospects for retaining some of these skills by growing new small businesses.

In a two thousand square foot former restaurant in New London you can catch a glimpse of what a homegrown biotech industry might look like in this part of the state.

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Courts
8:33 am
Mon March 28, 2011

Campaign Finance

In just a few hours the US Supreme Court will hear oral arguments in an Arizona case that may affect Connecticut's public campaign finance system.  We talk to Deirdre Shesgreen of the Connecticut Mirror about her recent article.

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Grants
6:23 am
Thu March 24, 2011

So, What Makes A Town "Rural?"

tiredofh2o/Flickr Creative Commons

WASHINGTON--In 2009, Bolton and Vernon were moving full speed ahead on a vital $25 million sewer project to replace inadequate septic systems serving the area's residents. But as construction was about to start, local officials got bad news from Washington: $2 million in federal aid was suddenly being yanked.

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Railroads
10:34 am
Tue March 22, 2011

Malloy Expects To Get Money For Transportation

Brent Moore

Governor Dannel Malloy was in Washington D.C. today (Thursday) to meet  with U.S. Transportation Secretary Ray LaHood. They discussed Connecticut’s application for high-speed rail funding. WNPR's Jason Cunningham reports.

Governor Malloy says he's confident that Connecticut will receive a portion of the $2.4 billion in federal transportation funding released last week. Speaking by phone to reporters he said he'll continue to pursue the $100 million in transportation funding that Florida’s Governor passed up.

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Where We Live
10:10 am
Mon March 7, 2011

A Look At Microfinance

Muhammad Yunus won the Nobel Peace Prize in 2006 for his work pioneering the concept of “micro credit,” providing small loans to village entrepreneurs as a way to fight poverty. 

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Every Child Ahead
11:29 am
Fri February 25, 2011

Balancing Business At Home

Harriet Jones

Many communities around Connecticut rely on small businesses to provide essential, basic services. For WNPR’s latest small business profile, Harriet Jones visited a home-based daycare in Hamden that’s helping children and parents alike.

Morning exercise is all part of the routine at Every Child Ahead in Hamden.

“I just care for them like they’re my children, and I think that’s why I keep my daycare full.”

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Childcare
11:12 am
Fri February 25, 2011

Childcare Businesses Grow At Home

Harriet Jones

If Connecticut is to have an engaged and productive workforce it must have reliable childcare. Childcare comes in many different forms, but an increasing number of providers are small, home-based businesses. WNPR’s Harriet Jones reports.

In a tiny condo in Hamden, Lushanna Thompson is allowing her small charges to let off some steam.

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The Faith Middleton Show
2:28 pm
Thu February 24, 2011

Politics, Burgers & Beer: FCIC Conclusions and Recommendations

FCIC

It's a fresh edition of Politics, Burgers and Beer. We'll talk budgets, the state of the economy, how we got here, and how we'll fix it. Faith and Quinnipiac's Rich Hanley will be joined by Financial Crisis Inquiry Commission Chairman Phil Angelides, New York Times Wealth Matters columnist Paul Sullivan, and YOU! Join the conversation on Twitter, on Facebook, or on air at 203 776-WNPR.

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The Faith Middleton Show
7:21 pm
Mon February 14, 2011

Growing and Protecting Your Money

creative commons, Iman Mosaad

Bob's simple saving rules.

1. Every month pay off the balance on your credit cards.

2. By age 30 save 15% of your income.

3. Pay yourself first (save before you spend)

4. When your portfolio is twice the size of your salary, become knowledgeable about investing and pay attention to your portfolio (gain in portfolio should be equal to or greater than what you are saving.)

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Business
9:32 am
Fri February 4, 2011

Construction Firm Feels Credit Pinch

Harriet Jones

We hear all the time that small businesses are having trouble accessing credit. But sometimes it’s hard to picture what that means both for an individual firm, and for the wider economy. To find out more, WNPR’s Harriet Jones visited a construction company that’s currently rehabbing several old homes in Middletown.

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Small Business
11:32 am
Tue February 1, 2011

Credit Issues Persist For Small Businesses

Cash is the lifeblood of any small business, and access to financing can be a critical factor in whether a small enterprise can grow and thrive. Businesses need credit to hire and to make capital investments. It may sometimes seem as if the chips are stacked against them.

For 17 years, Joe Petti ran a small manufacturing firm, Delaney Engineering in Milford. He says one of the biggest issues he faced growing his company was dealing with the banks.

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Finance
8:41 am
Mon November 1, 2010

Warren Buffett Hires Connecticut Hedge Fund Manager to Manage Portfolio

More details are slowly emerging about the Connecticut-based financial expert that Warren Buffett has chosen to oversee investments at Berkshire Hathaway. The billionaire has been trying to arrange succession planning at the company after his five decades in charge. 

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Financial Reform
8:32 am
Fri October 29, 2010

UConn Law Professor to Oversee Mortgages in Financial Bureau

A prominent UConn law professor has been tapped to advise the new Consumer Financial Protection Bureau, founded under the Dodd-Frank financial reform act. Patricia McCoy will be working on mortgages. McCoy is the director of UConn law school’s Insurance Law Center and an expert on consumer finance issues. She’s been a prominent commentator on the foreclosure crisis, and an advocate of protecting the rights of homeowners who were the victims of predatory lending.

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