Red Alert: Investors keep an eye on sub accounts

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Probably good timing on this warning from the SEC as desperate economic times are here leavingĀ  some highly leveraged players looking for a quick buck and your sub accounts could provide that opportunity. One well regarded local economist said this morning, he feels a new recession kicked off in August, while a national economist told […] [Read More]
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GE and UTC among top 25 penalized gov. contractors

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The Project on Government Oversight, a Washington, D.C. watchdog group, has listed the top 100 government contractors and the amount of penalties and fees racked up by the companies since 1995. United Technologies Corp. ranked seventh for total government contracts in 2010 with $7.3 billion and was 16th in penalties, POGO said. Since 1995, the […] [Read More]
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Oxford Health looking for 11 percent

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United Health Care’s Oxford Health is the first out of the gate with its filing for large group health plans for 2012. Oxford is proposing an average 11 percent hike to its large group plans offered to businesses with 51 or more employees. The company filed the request on Sept. 27, and it is now […] [Read More]
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A refreshing find at Wall Street protest

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New York City– I checked in on The Occupy Wall Street protest on Monday to see what it was all about. Interesting collection of people who, whether you agree with them or not, do deserve some respect for leaving the comfort of home to effect some change. As a reporter, one of the things I […] [Read More]
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Another fall in the quant world

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Although not quite Homeric, here is another tale in the securities trade in which human frailty – pride, arrogance, fear, insecurity and maybe all of them together– trumped the venerable quantitative formulas designed to protect us from risk. Here’s the SEC order on the matter, that reads like a tragedy, just without all the death. […] [Read More]
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UTC Goodrich deal already draws a legal fight

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Just hours after United Technologies and Goodrich Corp. held a joint conference with analysts,the New York law firm of Levi and Korsinky announced it was looking into the matter to gear up for a possible suit on behalf of Goodrich investors. The deal values Goodrich shares at $127.50, which Levi & Korsinsky says is $2.50 […] [Read More]
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Wave goodbye Windsor Locks? Hamilton to NC

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As part of its proposal to buy Goodrich Corp. for $18 billion, United Technologies is proposing to merge its Hamilton-Sundstrand unit with Goodrich and form UTC Aerospace System and headquarter them in North Carolina. It’s a huge break from tradition at UTC, which has historically headquartered its divisions in Connecticut, even when buying established companies […] [Read More]
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UTC shares pummeled as execs talk $18.4 B Goodrich deal

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Shares of United Technologies Corp., led the Down Jones Industrial Average down Thursday morning as executives of the company answered questions about an $18.4 billion deal to buy Goodrich. Shares in UTC were down more than 7 percent in morning trading and the Dow was off more than 300. The markets in general will falling […] [Read More]
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Former RBS Securities executive to serve one year for embezzlement

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James Glover, of West Harrison, N.Y. was sentenced Thursday to serve one year and a day in prison for embezzling nearly $625,000 from a former employer. Glover paid the money back in full before pleading guilty in June to the crime. The U.S. District Attorney once again declined to name the company and accuser in […] [Read More]
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Kaman buys assets of Mass.-based motion control distributor

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Bloomfield-based Kaman Corp. said Monday its subsidiary Kaman Industrial Technologies Corp. acquired the assets of Target Electronic Supply Inc. of Westwood, Mass. TheĀ  value of the deal was not announced, cut Kaman expects Target to have sales of about $19 million next year. Target, a leading motion control distributor in the New England has 17 […] [Read More]
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