Posts by Author

Rob Varnon

GE sees high revenue growth in Asia, Latin America, Middle East and Africa

on
GE executives delivered an optimistic report Wednesday reconfirming their expectations or revenue growth of better than 10 percent in regions outside North America and Europe. In a press release before a conference in Rio De Janiero, GE Vice Chairman John Rice noted 66 percent of GE’s $200 billion backlog of industrial orders comes from the […] [Read More]
Categories: Economy, GE, General
Tags:

The Chefs’ Warehouse Inc. met expectations in the 4Q

on
Ridgefield-based The Chefs’ Warehouse hit its number in the fourth quarter, posting earnings per diluted share of 25 cents on net income of $5.2 million. In the fourth quarter of 2010, Chefs’ reported a loss of $17 million, or 98 cents a share. Net sales increased at the Ridgefield company 27.2 percent to $165.5 million […] [Read More]
Categories: General, Wall Street
Tags:

Court freezes assets of L.I. advisor managing $74 million in funds

on
The SEC filed a civil complaint against Brian Raymond Callahan of New York charging him with misappropriating client funds from his Horizon Global Advisors, funds. Among the accusations Callahan faces is that he used clients’ funds to bail out his brother-in-law’s failing real estate business by putting a down payment of about $3.3 million to […] [Read More]
Categories: Hedge Funds, Wall Street
Tags: |

Norwalk’s Bolt Technology briefly up during Tuesday’s plunge

on
The underwater cable and maker of other underwater exploration equipment briefly defied Tuesday’s market plunge around noon, rising 1.52 percent before the undertow of the larger trend sucked it lower. Bolt was a highlighted stock on the Motley Fool’s Aimee Duffy, who discussed the companies strong balance sheet and upside on expansion of oil exploration. […] [Read More]
Categories: General, Wall Street
Tags: |

Millions in fines face Stratford and Greenwich film enterprise pitches

on
The State Banking Department confirmed Monday allegations of state security fraud have been permanently entered against organizers of a movie studio in Stratford and a film development operation in Greenwich. Hector Natera and Yvette Cuccaro and their now defunct business, Hollywood East, were charged with being unregistered brokers and selling unregistered securities in the plan […] [Read More]

SEC wins $10 million judgement against MBS peddler

on
Another reminder of how corruption rippled through the investment sector on the wings of easy credit and predatory. Last Friday, the U.S. Securities and Exchange Commission reported a federal judge found that the marketing of mortgage-backed securities to conservative investors was an act of fraud and the CEO was ordered to pay a $10 million […] [Read More]

Shelton’s Lex Products wins $8.1 million Army contract

on
The Pentagon said Thursday it is awarding Lex products another order for mobile generator system parts valued at $8.1 million. The company is to deliver the compnenents in January 2013. This is a continuation of a previous contract Lex has with the Navy. [Read More]
Categories: Defense, General
Tags:

Fed Gov. defends low-rate policies during Westport speech

on
Federal Reserve Board Governor Sarah Bloom Raskin was in Westport Thursday speaking to the Y’s Men group, a fellowship of 375 mostly retirees. It was almost an hour long presentation with questions and more will follow in an upcoming article in the business pages. While noting critics are right that savers, those who put their […] [Read More]

Fed Gov Raskin in Westport to talk about savings

on
Sarah Bloom Raskin is scheduled to speak in 7 minutes in Westport during a meeting of the Y’s Men. Raskin has family in Westport. We will be tweeting highlights from her talk on twitter.com/financialmines [Read More]
Categories: General

Hamlet’s philosophy fails New Canaan man facing 10 years for tax evasion

on
The U.S. Attorney for the State of Connecticut announced Wednesday, New Canaanite Sherwood Schaub, 70, pleaded guilty to charges of evading taxes for a decade. One of the things Schaub, also known as Andy Sherwood, allegedly did was not pay the IRS taxes he was withholding from employee paychecks. The IRS did catch on and […] [Read More]
Categories: General, Regulatory, Taxes