Financial Mines

News and notes from the business reporters for the Connecticut Media Group.
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Archive for January 3rd, 2013

State grapples with seasonal layoffs and extended jobless benefits

Thursday, January 3, 2013 by:Rob Varnon
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The State Labor Department said its phone centers were overwhelmed this week by calls from people seeking unemployment benefits after losing seasonal positions.

As a result, the Labor Department said it would extend its hours of operation until 6 p.m. this week, but it encouraged those who are filing to use the web.

The agency is also trying to re-start the extended unemployment benefits program, that Congress re-authorized this week as part of its fiscal cliff deal. While asking people who are eligible for the program to file, the department noted it cannot actually pay anyone until the bill is signed by President Obama and until the state signs an agreement with the federal government.

CEMA-later ICPA: Oil dealers’ association changes name

Thursday, January 3, 2013 by:Rob Varnon
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The Independent Connecticut Petroleum Association has officially changed its name to the Connecticut Energy Marketing Association, complete with a new website, ctema.com.

Around since 1950, ICPA, pronounced Ick-Pa, has been an advocate for the state’s oil heat dealers and independent gasoline stations. The change in name reflects a change in the sector, as oil heat dealers, many of which are family businesses, have been hit by customer defections to natural gas in the face of higher oil prices.

And one of the things CEMA is expected to push is opening up the natural gas distribution market to competition and allow its members to get into that game.

Connecticut’s commercial sector is already open to competition, but residential has been more difficult to crack.

Republicans pledge to vote on Sandy this month

Thursday, January 3, 2013 by:Rob Varnon
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After getting planted by criticism over a decision to adjourn Congress without voting on a $60 billion aid package to states that were hit by Superstorm Sandy in October, Republican leadership in the House said votes will be held on Friday and later in the month for the package.

While it was a slap in the face to many in the Northeast, the decision to slow the process down will give Congress a chance to start behaving like lawmakers and servants of the people, instead of paid performers for special interests.

The so-called fiscal cliff deal that was passed this week contained numerous tax breaks for special interests, including NASCAR and the movie industry.

The bill to povide funds to help recover from Sandy appears to also contain funds for projects unrelated to the storm damage.