CH-53K

Report: Sikorsky extends delay on CH-53K

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Sikorsky Aircraft reportedly pushed back further its planned first flight of the CH-53K King Stallion helicopter, the largest development contract the Stratford manufacturer has on the books as it readies to be sold or spun off by parent United Technologies. Hartford-based UTC (NYSE: UTX) and Sikorsky are exhibiting this week at the Paris Air Show. […] [Read More]
Categories: General
Sheraton Kauai

Vistana to take 5,300 Starwood employees

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About 3 percent of Stamford-based Starwood Hotels & Resorts Worldwide employees, or 5,300 in all, will transfer to Vistana Signature Experiences when the new vacation timeshare company is spun off from Starwood Vacation Ownership later this year. Vistana will be based at Starwood Vacation Ownership’s existing offices in Orlando, Fla. Starwood announced the planned spinoff in […] [Read More]
Categories: General
Negative Equity

Fairfield County homes surfacing from negative equity

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In the first quarter of 2015, about 1,450 fewer homes in the lower Fairfield County area were “underwater” according to CoreLogic, in cases where homeowners owe more than the value of their properties. In the first quarter, about 22,480 homes in lower Fairfield County had negative equity, or 10.7 percent of the mortgages outstanding, compared […] [Read More]
Categories: General
Vistana

Starwood SVO to take original Vistana name

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Vistana Signature Experiences will be the name of Starwood Vacation Ownership, when Starwood Hotels & Resorts Worldwide spins off its timeshare business as an independent, publicly-owned company later this year. Stamford-based Starwood (NYSE: HOT) plans to execute the spinoff in the fourth quarter of 2015 via a pro rata distribution of Vistana Signature Experiences stock to Starwood shareholders. Vistana […] [Read More]
Categories: General
Airbus H175

GECAS orders jets, helicopters

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GE Capital Aviation Services is ordering 60 A320neo passenger jets from Airbus to lease to airliners powered by engines from a GE Aviation joint venture with Safran, also ordering nearly 50 helicopters from rivals of Sikorsky Aircraft. Fairfield-based GE (NYSE; GE) is in the process of selling off much of GE Capital, but has stated it plans to […] [Read More]
Embraer

Stamford co. buys $1.5B in Brazil-made jets

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Aircastle ordered 25 regional passenger jets from Embraer along with purchase rights for 25 more, with the companies announcing the deal at the Paris Air Show. Stamford-based Aircastle (NYSE: AYR) leases jets to airliners, with its competitors including the GE Capital Aviation Services of General Electric, which has offices in Norwalk and Stamford. As of March 31, Aircastle leased 152 […] [Read More]
Categories: General
Gap

Gap to shutter 175 stores

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Gap Inc. is closing 175 stores in North America this year and next, also laying off 250 people at its San Francisco headquarters. Gap (NYSE: GPS) did not immediately publish a list of stores slated for closure, with the company’s brands including Old Navy and Banana Republic. The company has locations in Stamford, Danbury, Norwalk, Fairfield, […] [Read More]
Categories: General
Anthem

WSJ: Anthem targets Cigna

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Anthem was rebuffed in initial talks to acquire Cigna, according to the Wall Street Journal, with the latter carrier’s stock spiking 15 percent Monday after the report. Bloomfield-based Cigna (NYSE: CI) had nearly 418,000 policyholders in Connecticut as of 2014, according to the Connecticut Department of Insurance, while Indianapolis-based Anthem (NYSE: WLP) had 1.15 million […] [Read More]
Categories: General