IRS alerting non-profits

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This from the Internal Revenue Service today: Dear Editor: We at the Internal Revenue Service are concerned because as many as 3,900 small community-based nonprofits in Connecticut are in jeopardy of losing their tax-exempt status. The loss of this status could greatly impact the organizations’ charitable work and their donors’ potential tax deductions. Among the […] [Read More]
Categories: General

GEAM update

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Nobody in Stamford is losing their job as the result of today’s announcement.  However, as GEAM positioned itself for the change earlier this year, there were some layoffs, a spokesman said, without specifying how many. [Read More]
Categories: General

GEAM outsourcing advisor role

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Can somebody explain what this means, from today’s press release about GE Asset Management oursourcing to Highland Funds Asset Management in Dallas: “For more than two decades, GEAM has brought its 80-year heritage of investment expertise to the marketplace, which includes individuals who invest in the GE Funds directly and through intermediaries,“ added Mike Cosgrove, […] [Read More]
Categories: General

Corporate credit union seized

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Constitution Corporate Credit Union in Wallingford, a “bankers’ bank” for the state’s retail credit unions, went down in flames on Friday, falling to a government seizure caused by the failure of its investments in mortgage backed securities. Like so many financial firms that got burned, AIG, Lehman Brothers, Citi, et al, the local corporate chased […] [Read More]
Categories: General