Credit: Nati Harnik, AP

Report: Stamford exec could fill Buffett’s shoes

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Warren Buffett’s successor as CEO of Berkshire Hathaway (NYSE: BRK.A) could be the head of the giant’s reinsurance operations based in Stamford, according to an executive’s letter to shareholders. Ajit Jain is president of Berkshire Hathaway Reinsurance Group, which lists its main office at 100 First Stamford Place, one of two Berkshire Hathaway reinsurance divisions in Stamford […] [Read More]
Categories: General
FuelCell

FuelCell to flip UB switch in March

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FuelCell Energy (Nasdaq:FCEL) completed the sale to NRG Yield of a 1.4-megawatt fuel cell power plant project at the University of Bridgeport, which has inked a multi-year power purchase agreement with an NRG affiliate. Danbury-based FuelCell Energy will operate and maintain the plant, with service expected to commence in March supplying electricity and heat to […] [Read More]
Categories: General
Chris Gruseke

Bankwell appoints CEO

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Weeks after hiring Christopher Gruseke in a strategic advisory role, Bankwell Financial Group (Nasdaq:BWFG) promoted him to president and CEO, with the company having been run by its chairman since last August. Gruseke was a founding investor in New Canaan-based Bankwell’s predecessor company BNC Financial Group and its subsidiary Bank of New Canaan. Bankwell has […] [Read More]
Categories: General
Stamford Innovation Center

Hacker Night now Innovation Roundtable

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The Innovation Roundtable is the new name for the Stamford Innovation Center’s weekly Hacker Night information sessions, which bring together people interested in innovation, entrepreneurship and related endeavors. An Innovation Roundtable on Tuesday, March 3 will feature a presentation by New York-based Vengo Labs, which is designing high-tech vending machines and related software. The session […] [Read More]
Categories: General
Boehringer Ingelheim

BI puts Alzheimer’s drug candidate on hold

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Boehringer Ingelheim placed a temporary clinical “hold” on a treatment for Alzheimer’s disease it has been developing with Vitae Pharmaceuticals. Boehringer Ingelheim has its U.S. headquarters in Ridgefield. Shares of Vitae (Nasdaq: VTAE) dove more than 22 percent in after-hours trading Thursday, after the Fort Washington, Pa.-based company reported unspecified skin reactions were observed during a […] [Read More]
Categories: General
EvoLux

Helicopter ride-share takes off in Stamford

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Two years after winning a business plan contest sponsored by Sikorsky Aircraft, EvoLux Transportation revealed its “crowdsourcing” idea for helicopter travel, saying it can undercut regular charter flight prices by 60 percent. EvoLux lists its main office at the Sikorsky Innovations Lab in the Stamford Innovation Center. Founder and CEO Ray Leavitt previously worked for the […] [Read More]
Categories: General

Stamford broker gets three years, $3.3m penalty

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Stamford resident Asm Afsary was sentenced to three years in jail, after being convicted for obtaining mortgage loans on 20 properties in Stamford, Norwalk and Bridgeport by falsifying mortgage applications, resulting in $7 million in losses to lenders. Afsary, 42, recruited straw buyers, individuals who fraudulently applied for and obtained mortgage loans but did not […] [Read More]
Categories: General
Rutledge

Investors shrug off FCC ruling

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Share prices of Stamford-based Charter Communications (Nasdaq: CHTR) and Frontier Communications (Nasdaq: FTR) were little changed Thursday, after the Federal Communications Commission voted 3-2 to tighten its regulation of the broadband industry. The FCC’s so-called net-neutrality decision had been opposed by broadband carriers and reportedly some major Web companies like Google, with analysts expecting lawsuits […] [Read More]
Categories: General
Nordstrom

Nordstrom Norwalk-bound

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Nordstrom (NYSE: JWN) plans to open a department store in a mall being developed for Norwalk by General Growth Properties (NYSE: GGP). It would be Seattle-based Nordstrom’s second Connecticut store, having opened its first in 1997 at Westfarms Mall in Farmington. The Norwalk store would total 150,000 square feet of space on three floors with […] [Read More]
Categories: General
UIL

UIL to combine with Iberdrola

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The board of United Illuminating parent UIL Holdings accepted a buyout offer from Iberdrola USA, with the transaction valued at about $3 billion. UIL shares (NYSE: UIL) soared 19 percent after the opening bell Thursday to $50.20. New Haven-based UIL offers electricity and natural gas service in the areas of Bridgeport and Westport, including towns […] [Read More]
Categories: General