Monthly Archive for November, 2011

: November, 2011

SEC files on Madoff’s Kugel and moves on a D.C. Ponzi

The Securities and Exchange Commission is continuing to clean up the Beranard Madoff mess bringing charges against long-term Madoff employee, David Kugel. Kugel pleaded guilty to six felony charges on
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State unemployment rate drops to 8.7 percent

Connecticut’s unemployment rate dropped to 8.7 percent in October, from 8.9 percent in September, marking the second straight month of job growth for the Nutmeg State, according to Labor Department
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Ineffectual, a new hit song from D.C.

Good morning on this shortened work week. We’ve decided to start Monday off with a song in honor of the Super Terrific Deficit Cutting Committee and Congress proving once again, how ineffectual
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A pre-IPO Facebook investment scam took in $12.6 million

The SEC has charged a group of people and their associated companies of running a scam that claimed investors could obtain pre-IPO shares of hot companies, including Facebook. The used a series of
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Stanley Black & Decker looks to cut short-term borrowing

New Britain-based Stanley Black and Decker filed a prospectus and amendment on Nov. 17 announcing plans to issue senior unsecured debt. The tool maker said it’s looking to pay down short term
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Senators offering bans on Congressional insider trading

The market profiteering uncovered by 60 minutes last weekend looked so bad, two members of Congress are moving to if not ban insider trading completely, to at least make disclosure a part of the
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Ex CEO loses $2.8 million bonus to Sarbanes-Oxley clawback

The SEC said on Nov. 15, former CSK Auto Corp. CEO and Chairman Maynard L. Jenkins of Arizona will return $2.8 million in incentive-based bonuses earned during a period when his company used
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A $250 million fund to be built on rare coins

Coming up this week, Assistant Business Editor Hearst Media Connecticut Richard Lee details the formation of an alternative money management fund built on rare coins. The fund appears to be looking to
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Black Friday protest on Target

Bloomberg had a nice piece on workers at Target who are tired of working Thanksgiving and started a petition. Seems it might be a nice PR ploy for Target to say it’s opening at normal hours on Friday
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Nor’easter could rip town credit ratings

Moody’s Investors Service said Monday the prolonged power failures in Connecticut and the estimated $3 billion cost of cleanup could damage a number of towns’ credit ratings as they try to find money
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