Conn. Sears spared in 1st round of cuts

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Sears posted a list of 79 of 100 stores it plans to close. No Conn stores were listed. [Read More]
Categories: General, Main Street

Storm credit scam alert!

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This just in from Berlin. Berlin, CT – December 28, 2011 – Connecticut Light & Power (CL&P) is asking customers to be wary of people who may come to their home, claiming that they are “from the electric company” or “CL&P” and are there to sign them up to receive a storm credit. All CL&P […] [Read More]
Categories: General
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Port development coming to Connecticut?

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Connecticut, a state whose principal wealth was once dependent upon the seas, has hired a California consulting firm to tell it how to use its deep water ports. For several decades now, the state’s industrial ports have been sliding into decline as importers and exporters abandoned them and lack of infrastructure improvement dissuaded other uses. […] [Read More]
Categories: General

GE Cap buys $7.5B in deposits from MetLife

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As one analyst noted, GE Capital didn’t waste any time moving forward with plans to increase deposits and move away from its dependence on commercial paper. GE Capital announced Tuesday that its wholly owned bank GE Capital Financial has entered into an agreement to buy MetLife’s U.S. retail deposit and online banking business. The financial […] [Read More]
Categories: General

Wait leaving Cigna board

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In an SEC filing Tuesday morning, Dec. 27, 2011, Cigna Corp. announced the departure of one of its long-serving directors. “Carol C. Wait, who has served on the Board of Directors of Cigna Corporation since 1995, informed the Company on December 21, 2011 of her intention to retire from the Board effective December 31, 2011, […] [Read More]
Categories: General

Sikorsky continues to protect Irish coast

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This is from a few days ago, but Sikorsky Aircraft announced on Dec. 21, 2011, it delivered a new S-92 Search and Rescue helicopter to the company that patrols the coast under a contract for the Irish Coast Guard. CHC Helicopter will operate the new aircraft on behalf of the Irish Coast Guard. The aircraft  […] [Read More]
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When you’re desperate, beware offers of help

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Once again, a warning has gone out to unemployed workers that someone out there is trying to profit off of your desperation. The Connecticut Labor Department said right before staff took off for the Christmas Break,  the number of illegitimate unemployment insurance websites is increasing. These websites try to lure those collecting unemployment to provide […] [Read More]
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Deals struck and possibly unstruck in Conn.

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Attorney General George Jepsen urged utility regulators to reevaluate the NSTAR NU merger deal on the heals of NU’s performance during this year’s major electrical outages. It was noted here in Financial Mines that NSTAR actually performed pretty well during the storm, so maybe the deal will upgrade performance? In other news, KEMA, an energy […] [Read More]
Categories: General

GE Funding Capital Markets to pay $34.25 M settlement to states

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This just in from AG Jepsen: HARTFORD — Attorney General George Jepsen today announced a $34.25 million multistate settlement with GE Funding Capital Market Services, Inc. (“GE Funding”) as part of an ongoing nationwide investigation of alleged illegal conduct in the municipal bond derivatives industry. Connecticut and New York led the investigation for the working […] [Read More]
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Payroll tax issue down, now onto deficit dilemma 2012

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Right after the House Republicans caved to pressure and passed a payroll tax cut extension, the U.S. Government Accounting Office issued the audited report of the Sec. of  U.S finances and noted the deficit increased by $4.5 billion last year to about $1.3 trillion. http://www.gao.gov/financial/fy2011/11frusg.pdf. In a press release the GAO set up what, barring […] [Read More]
Categories: General