Boeing Sikorsky unveil helicopter of the future

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Boeing and Sikorsky said Thursday they have the U.S. Military’s helicopter of the future. The aviation giants have teamed up to pursue the Army’s Joint Multi-Role contract and will offer up a new breed of helicopter based on Sikorsky’s X2. The X2 is Sikorsky’s experimental helicopter which operates with counter rotating rotors on top of […] [Read More]
Categories: Defense, Sikorsky
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After 4 years of frugality, Americans whip out credit cards

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The Federal Reserve Bank of New York said consumers ended 16 quarters of deleveraging in the fourth quarter as outstanding household debt in America climbed to $11.34 trillion. The NYFED said mortgage debt was virtually flat in the fourth quarter but non housing debt from credit cards, auto and student loans all increased in the […] [Read More]

Ridgefield-based hedge fund executives indicted

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David B. Fein, United States Attorney for the District of Connecticut, and Kimberly K. Mertz, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, announced Tuesday a federal grand jury sitting in New Haven returned a 19-count indictment charging three executives of New Stream Capital, LLC, a Ridgefield-based hedge […] [Read More]
Categories: Fraud, Hedge Funds

Bankruptcy bid leaves 285 CT media pros in limbo

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A bid to buy the New Haven Register’s parent company Journal Register Co., which is in bankruptcy, is still pending in federal court, but JRC has told the state it expects the deal to close in April and 285 media pros will lose their jobs. However, JRC management has said it has asked the new […] [Read More]
Categories: Labor

CT office workers got more pink slips in fourth quarter 2012

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The job market for office workers remained a rough one in 2012 as the sector continued to lead Southwest Connecticut for job losses, according to the Labor Department’s quarterly survey. The department said in the fourth quarter of 2012, there were 1,711 people who had lost office jobs in the Bridgeport Stamford market, up 18 […] [Read More]

U.S. Army Chief of Staff plans to push out Black Hawk deliveries

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Defense News is reporting today that U.S. Army Chief of Staff Gen. Ray Odierno has signed a plan to deal with sequestration that would include extending the Black Hawk fleet modernization program by three to five years. Sikorsky is currently sitting on a five year, $8.5 billion contract to build the new fleet of Black […] [Read More]

Park City won’t be flushed away in April

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Good news Bridgeport, come April, there’s a solid chance someone will be running the sewage treatment plants. Mayor Bill Finch’s office said this week the Water Pollution Control Authority has a winning bidder for the city’s two sewage plants, but is still doing due diligence on the award. The city says the winner is Severn […] [Read More]

Black Hawk provides Sikorsky cover against sequestration

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With concerns over sequestration hanging over his Sikorsky Aircraft, Pratt & Whitney and UTC Aerospace systems subsidiaries, Louis Chenevert, chief executive officer and chairman of United Technologies, said the company is prepared for a 10 cent hit to earnings per share in a worst case scenario. Chenevert, speaking at the Barclays Conference, was in step […] [Read More]

AG says banks have erased $345 million in Conn. mortgage debt

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Connecticut Attorney General George Jepsen said 5,050 distressed homeowners on average saw their debt reduced by $68,500 as part of a national settlement with five of the nation’s largest banks. The AG reported the latest results from an independent national settlement monitor which has been providing quarterly updates on the $25 billion settlement since March […] [Read More]

Northeast homes stay vacant the longest

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The U.S. Census Bureau reported Wednesday the median number of months a vacant home stays empty in the Northeast was 3.8 months, the highest in the nation. The Midwest was a close second, with homes staying vacant 3.7 months. The West and South were both lower than the national duration of 2.9 months. The age […] [Read More]