Liberty Mutual pays state $2 million

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Liberty Mutual has agreed to settle allegations of bid rigging leveled against it in 2006 by the state. Though its actions apparently inflated prices in the market for all consumers, Attorney General Richard Blumenthal said consumers won’t get any money back, instead the $2 million will go into the state’s General Fund. Here’s the AG’s […] [Read More]
Categories: General

Malloy keeps Pitkin at Banking

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Governor-elect Dan Malloy announced Tuesday that he intends to keep State Department of Banking Commissioner Howard Pitkin on the job. Here’s the full release. (HARTFORD, CT) – Governor-Elect Dan Malloy announced that he has chosen to reappoint Howard Pitkin to be the commissioner of the Connecticut Department of Banking. Commissioner Pitkin has lead the department […] [Read More]
Categories: General

People’s United consolidates insurance agencies

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People’s United Financial Inc. said Tuesday morning it is consolidating its insurance agencies into a single unit called People’s United Insurance Agency. Daniel Casey, former president and chief executive of Chittenden Insurance has been tapped to lead the Bridgeport-based bank’s insurance division. The bank said as of Jan. 1, 2011, R.C. Knox, Beardsley, Brown and […] [Read More]
Categories: General

GE engine still in it for F-35

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GE’s engine for the F-35 jet fighter will remain alive after Congress agreed to continue funding it as part of a continuing budget resolition. Pratt & Whitney is the main engine provider for the F-35, but GE was devoloping a back-up engine with Rolls Royce. The Pentagon wants to discontinue the GE program. Bloomberg News […] [Read More]
Categories: General

NewAlliance First Niagara to drop 50 jobs

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NewAlliance Bancshares and First Niagara Financial said Monday if their merger is completed 50 jobs will be cut and the new bank will have a $1 billion loan fund for community reinvestment. The proposed merger has come under fire from the Mayor of New Haven and outgoing Attorney General Richard Blumenthal. The pair have expressed […] [Read More]
Categories: General

Fairfield County’s economy ranked 70th in world

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The Brookings Institution said the Bridgeport metro region’s economic performance after the recession makes it one of the stronger economies in the U.S. and world. Brookings measured the economic performance of 150 metro regions around the globe, including 50 in the U.S., 50 in Europe and 50 in the rest of the world. The Bridgeport […] [Read More]
Categories: General

The business of helping others

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I realize the Financial Mines blog is intended for matters related to finance and business, but I just had to share my sister Marilee’s e-mail on how her son Maxx, my nephew, is doing in Zambia as a Peace Corps member helping the natives learn how to sustain themselves through fishing. He has been there […] [Read More]
Categories: General

Insurance — have it!

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Many of us out there — myself included — bemoan the ever-increasing cost for health insurance, whether it be through work, Cobra or other provider. I don’t need to cite numbers or statistics — we all know that it just seems to go up and up every year, taking an ever-bigger bite out of our […] [Read More]
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Everybody’s Doing It — Almost

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As a business writer covering the thousands of businesses in Fairfield County, I am constantly Googling business names to find their websites and obtain all the information I need about them at the click of a mouse. I can’t count how many times I do this during a given workday, Googling, clicking and scanning with […] [Read More]
Categories: General

WWE decides on no merchandise at polls

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On Monday evening before election Day 2011, the WWE decided not to hand out its goods at the polls as Linda McMahon goes against Dick Blumenthal for a U.S. Senate seat. While I joked with a co-worker that the move was in response to my latest blog on Friday (see below), the WWE states the […] [Read More]
Categories: General