Connecticut defense contractors in line for $20 Billion in 2012

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U.S. Senators Richard Blumenthal, D-Conn., and Joe Lieberman, I-Conn., said the appropriations bill awaiting President Barack Obama’s signature carries significant funds for state defense companies, including further funding Black Hawk production at Sikorsky. The bill was passed last week, but has yet to be signed as Washington is locked in a fight over how to […] [Read More]
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GE’s annual meeting will be in Motor City

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General Electric Co. said today it will hold its annual meeting in Detroit on April 25, 2012. Each year, GE holds its meeting in a region where it has a significant presence. The company said it employs about 3,500 people in Michigan, with plans to add 1,300 more jobs in the coming years. GE’s full […] [Read More]
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State subsidizing training for workers, still costs to bear

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The Connecticut Department of Labor is urging small businesses, with less than 50 employees, to sign up for a new program called Step Up that helps cover training costs and subsidizes, in some cases, the wages of new hires. While it appears to remove some of the fiscal risk businesses owners are concerned about with […] [Read More]
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Another Madoff minion faces SEC accusations

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The U.S. Securities and Exchange Commission filed civil charges against Enrica Cotellessa-Pitz. The SEC said Cotellessa-Pitz worked at Bernard L. Madoff Investment Securities LLC for more than 30 years and allegedly assisted in falsifying BMIS’s internal accounting records in order to misclassify hundreds of millions of dollars of income purportedly generated by BMIS’s investment advisory […] [Read More]
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Connecticut’s unemployment rate drops to 8.4 percent

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Connecticut’s Labor Department said the unemployment rate dipped 0.3 percent to 8.4 percent last month as the national rate fell 0.4 percent to 8.6 percent during the same time. The number of people unemployed, according to the monthly survey, fell 2.8 percent, or 4,700 people,  to 159,200 in November, compared to 163,900 in October. The […] [Read More]
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Kaman buys Illinois company

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Bloomfield-based Kaman Corp. was still hanging onto its Monday stock gains after announcing it bought Illinois-based Catching FluidPower Inc. CFPI distributes fluid power products, most notably Parker Hannifan Corp. products. The value of the deal was not disclosed, but while many companies shares turned south after a brief surge Monday, Kaman’s shares remained up almost […] [Read More]
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More on Dalio’s new fund

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Lawrence Delevingne at Absolute Return + Alpha reported earlier today that Dalio’s new fund will not target wealthy families, as some experts suggested, but will instead stick with institutional investors, specifically looking at corporate pensions. And in an email sent around 6 p.m. Bridgewater itself confirmed it’s sticking with institutional investors. Bridgewater also said despite […] [Read More]
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Morgan Stanley adds to cuts on Wall Street

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Financial workers were greeted this morning with more news of job cuts on Wall Street, this time as Morgan Stanley announced 1,600 position reduction in the first quarter, according to numerous media outlets. It’s not a complete surprise at Morgan. At a Bank of America Merrill Lynch conference this morning, Morgan Stanley’s Paul J. Taubman, […] [Read More]
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