Derecktor furloughs workers
Derecktor Shipyards reportedly is furloughing its Bridgeport workforce this fall due to a lack of new work.
At its peak, Derecktor had some 400 workers in Bridgeport, one of two area shipyards in addition to it main U.S. facility in Mamaroneck, N.Y. The Hartford Courant reported the company was recently sued for $12 million for breach of contract by the owner of Cakewalk, a 280-foot luxury yacht that was the largest built in the United States since the 1930s.
Derecktor received a $1 million grant from the state of Connecticut last year for improvements to its Bridgeport property, which occupies 23 acres of waterfront property on Bridgeport harbor.
Ports focus of study
Connecticut issued a request for proposals for companies to evaluate the state”™s deepwater ports of Bridgeport, New Haven and New London and additional investment that may be needed in the form of dredging or other improvements.
The Connecticut Maritime Coalition estimates the state”™s maritime industries and related economic activity support 30,000 jobs.
“The study will create the picture, the plan and the strategy for the future growth of our ports and waterways,” James Redeker, commissioner of the Connecticut Department of Transportation, said in a statement. “It will help ensure that we maximize transportation assets to connect our ports to rail, airports and highways in such a way that fosters the smart transportation of people, goods and services. Relieving congestion on our highway corridors improves safety, air quality and the efficiency of Connecticut”™s transportation systems, which in turn helps our overall economy.”
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Fare hikes en route?
The Connecticut Department of Transportation proposed raising rail and bus fares 4 percent annually over the next three years.
The first increase would be scheduled for next January and is in addition to a 1.25 percent hike planned for New Haven Line riders to help pay for M-8 rail cars, with additional 1 percent increases through 2018.
“This fare hike was not suggested during the normal budget process and was only later threatened as a response to a concession package that was in jeopardy,” state Sen. Toni Boucher of Wilton said in a statement. “Once the concession package was accepted this increase should have been taken off the table.”
Nursing facility sold
Sabra Health Care REIT Inc. acquired the Honey Hill Care Center in Norwalk, a 150-bed nursing facility built in 1993.
Irvine, Calif.-based Sabra paid $18 million for Honey Hill and a Maryland nursing home with 135 beds.
“The two ”¦ acquisitions are very good assets in good markets that have been undermanaged,” Rick Matros, CEO of Sabra, said in a statement. “The upside in these centers is primarily in cost management.”
Anthem runs rebate plan
Anthem Blue Cross and Blue Shield reportedly is piloting a rebate plan in Connecticut that offers hundreds of dollars to policyholders that choose lower-cost physicians.
The Hartford Courant reported that two employers with self-insured plans administered by Anthem are currently offering the company”™s SmartShopper plan: Colt Manufacturing Co. in West Hartford and Ulbrich Stainless Steels and Special Metals in North Haven.
Anthem is owned by Indianapolis-based WellPoint Inc.
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Carrier gets $55 million
Oak Hill Capital Partners invested $55 million in Southern Air, four years after acquiring a controlling stake in the Norwalk-based cargo carrier.
Concurrent with the new investment, Southern Air renegotiated its credit agreements, including extending its long-term debt maturities to 2015. The company is scheduled to take delivery of two Boeing 777 freighters and four Boeing 747-400s next year.
College buys fuel cell plant
Central Connecticut State University will use a fuel cell power plant from Danbury-based FuelCell Energy Inc. capable of generating 1.4 megawatts of electricity, sufficient for the equivalent of some 1,500 homes.
Wisconsin-based Greenwood Energy bought the fuel cell for installation at Central Connecticut State”™s New Britain campus. The Connecticut Clean Energy Finance and Investment Authority provided a grant to the project.
TranSwitch restructures
TranSwitch Corp. is undertaking a restructuring it said would cut $3.2 million from its annual payroll, without specifying how many layoffs are planned.
The Shelton-based company designs integrated circuits for use in telecommunications and networking gear. As part of the reorganization, TranSwitch is reorganizing into two divisions focused on high-speed interconnections and telecommunications.
Farmers qualify for Irene aid
The U.S. Department of Agriculture designated Fairfield County as a disaster area in the wake of Tropical Storm Irene, allowing farms to apply for USDA Farm Service Agency emergency loans and supplemental revenue assistance payments.
“Connecticut has a vibrant and active agriculture sector, and the family farm is still a major part of our landscape today,” said Stephen Reviczky, commissioner of the Connecticut Department of Agriculture, in a prepared statement.
Farms must have their applications in within eight months, with FSA considering the extent of the farm”™s production losses, the security available and its repayment ability. The closest FSA office is in Wallingford, and can be reached at (203) 269-6665.
