State paying Chase $25K to run tax refund debit card program

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State Treasurer Denise Nappier said Tuesday her office reviewed nine proposals from banks who wanted to run the state’s new debit card tax refund program. On Monday, the Connecticut Department of Revenue Services announced people will no longer be issued checks but instead will get refunds loaded onto Chase debit cards. Chase declined comment when […] [Read More]

Senate criticized for changes to ‘insider trading’ ban

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With millions of dollars on the line for its members, the Senate has not yet voted on the Stop Trading on Congressional Knowledge Act that would prohibit Congressmen and staff from making trades on privileged information. The Senate is facing a public outcry after news reports revealed members of Congress are not prohibited from trading […] [Read More]

In 15 years, UTC spent $1 billion on employee education

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Gov. Dannel P. Malloy lauded Hartford-based United Technologies Corp. on Tuesday for spending $1 billion on the education of its employees. Fifteen years ago, UTC started its Employee Scholar Program in which the company covers tuition, books and fees for employees enrolled at accredited institutions. According to UTC’s website, more than 32,500 workers have earned […] [Read More]
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You’ve been carded: State tax refunds coming as debit cards

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The State Department of Revenue Services said Monday it will not send you a tax refund check, instead, people who overpaid will now be issued a Chase Bank debit card if they do not accept direct deposit. Tax refunds in excess of $10,000, or for people who have off shore bank accounts, will still be […] [Read More]
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HUB B trying to buck Blue Monday

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While a lot of Connecticut stocks on Monday were handing back gains made last week, Shelton-based Hubbell Inc. was up marginally 0.44 percent to $72.64. Reuters said Hubbell, a player in the lighting and electric component industry, could be in the merger mix as its industry goes through a round of consolidation. Reuters reported ABB […] [Read More]
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Conn. ranks sixth for full-time public sector salaries

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The Census Bureau reported Monday that Nutmeg public sector workers had the sixth highest salaries in the nation in March of 2010. As the state continues to try to grapple with budget problems it appears that public sector pay, structure and taxes will remain very much a political issue at every level. The Bureau, in […] [Read More]
Categories: Economy, General

Financial Mines covering Parrett talking China

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Tonight, we’ll be tweeting from UB’s Sammis Lecture, which features William Parrett, chairman of the U.S. Council for International Business and a director of The Blackstone Group. Tonight’s topic – multinational corp. investment in China [Read More]
Categories: Economy, Wall Street

Commercial shipments at Sikorsky stall, but takeoff at Pratt

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Stratford-based Sikorsky Aircraft saw its commercial shipments fall to 12 in the fourth quarter compared to 16 in the same period a year ago, while its sister UTC company Pratt & Whitney experienced an increase from commercial aviation, shipping 154 engines in the fourth quarter of 2011, up from 110 the previous year. UTC reported […] [Read More]
Categories: Defense, Sikorsky
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UTC EPS up 12 percent

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United Technologies Corp. reported fourth quarter net income attributable to shareholders climbed to $1.3 billion, or $1.47 per diluted share, from $1.2 billion, or $1.31 per diluted share a year ago. The company said restructuring charges cost 11 cents in the quarter. Sikorsky accounted for 25 percent of those costs as it cut more than […] [Read More]
Categories: Sikorsky
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Sikorsky wants Danes to fly Seahawks

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Sikorsky Aircraft’s aftermarket division signed an agreement with Danish Aerotech A/S to discuss the establishment of a support facility and service should Sikorsky win a Roayl Danish Navy contract. The Danes are expected to announce their decision on the contest this year and Sikorsky Aerospace Services would work with Danish Aerotech to supply replacement parts […] [Read More]
Categories: Defense, General, Sikorsky
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