Pentagon says it will pay more for Black Hawks

on
The Pentagon told Congress on Friday it trimmed an estimated $8.7 billion in acquisition costs from 83 programs that are being continued from 2010. However, costs for the UH60 Black Hawk, made by by Stratford-based Sikorsky, went up $1.5 million to $28.8 billion, during the period to cover costs related to negotiations for the next […] [Read More]
Categories: Defense
Tags:

Ruger’s success overshadowed by politics

on
Fairfield-based Sturm Ruger and Company Inc. had more than 1 million orders for new firearms in the first quarter, overloading its factory capacity. The company said last week it was temporarily suspending the acceptance of orders until it catches up. Ruger is at the tail end of a 1 million gun pledge sales drive. The […] [Read More]

IPO market is a shadow of itself in 1Q

on
Greenwich-based Renaissance Capital reported this week on IPOs for the first quarter of this year, just a few days after Congress passed legislation containing a provision originally authored and supported  U.S. Rep. Jim Himes, D-4, to help bolster IPO formation. Renaissance reported IPOs raised $5.6 billion in the first quarter, representing a 58 percent drop […] [Read More]
Categories: Wall Street

Connecticut turns to Kroll for bond issuance rating

on
Connecticut State Treasurer Denise Nappier is taking a run at the established credit ratings agencies, electing to have New York-based Kroll Bond Ratings rate $14 billion in outstanding general obligation bonds and those scheduled for sale in April. “As a new rating agency, Kroll Bond Ratings brings a fresh perspective to public sector credit ratings,” […] [Read More]

Connecticut adds 4,900 jobs in February

on
The State Labor Department reported Thursday employers added a net 4,900 jobs in February as the unemployment rate dropped below 8 percent for the first time in nearly three years. The department said the retail sector gained 1,600 jobs and health care was up 1,900 for the month. Construction also continued to add jobs, gaining […] [Read More]
Categories: Economy, General
Tags:

Labor Department programs enter budget battle stage

on
The fight over Washington spending continues as the nation heads into the election with Labor Department programs to take center stage on whether they are appropriate, working and even where the government’s obligations to training and safety should end. U.S. Rep. Rosa DeLauro, D-3 and the ranking mamber on the House Labor, Health and Human […] [Read More]

Top UIL executives raises run from 3-to-9 percent

on
UIL Holdings reported to the SEC on Tuesday that its board of directors rewarded top management with raises and stock options for hitting their targets of the last year. Raises to the top five executives climbed between 3 and 9 percent, not including the stock they also earned. James Torgerson, president and CEO, will earn […] [Read More]
Tags:

Financiers take to Arena Thursday!

on
We’re not talking gladiatorial here, instead we’re talking about a bevy of bankers who will be at the Webster Arena at Harbor Yard Thursday from 10 a.m. to 7 p.m. to try to help out distressed homeowners. On Monday, Bridgeport Mayor Bill Finch joined Banking Commissioner Howard Pitkin, Attorney General George Jepsen and State Sen. […] [Read More]

SEC in the Cayman Islands — and not for vacation

on
That’s right folks, in case you haven’t heard the U.S. Securities and Exchange Commission is continuing to sign memorandums of understanding with other regulators around the globe and late last week announced a deal with the Cayman Islands and the European Securities and Markets Authority. As the SEC noted in its announcement, “The Cayman Islands […] [Read More]
Categories: Hedge Funds, Regulatory

Jobs Acts creates work for writing hedge fund jingles

on
For a Congress that once moved at the same pace as I-95 in Stamford at 5:21 p.m., this one is doing quite a bit. This week, the crew inside the beltway actually passed a couple important pieces of legislation that could allow hedge funds to advertise as well as ban Congressmen from engaging in insider […] [Read More]
Categories: Regulatory, Wall Street
Tags: