”˜Trisha”™ comes to Stamford
NBCUniversal is adding “Trisha” to the lineup of talk shows produced at the Stamford Media Center downtown, in addition to “The Jerry Springer Show” and two others.
Host Trisha Goddard previously had a talk show in the United Kingdom.
During its first two years of production on “The Jerry Springer Show,” “The Steve Wilkos Show” and “Maury,” the Stamford Media Center has spent over $23 million with Connecticut vendors including construction and maintenance companies, restaurants and caterers, hotels, car services and cleaning services.
The shows have attracted more than 160,000 audience members to the downtown Stamford area, 70 percent of whom travel from out-of-state.
The new one-hour talk show, “Trisha,” is expected to add approximately 50 new Connecticut-based jobs and potentially dozens more, substantially expanding the Stamford Media Center”™s staff of 230. The show will also bring an additional 1,000 audience members into downtown Stamford each week, resulting in increased foot traffic to businesses.
Â
UTC”™s workforce dips
For the first time since 2003, United Technology Corp.”™s worldwide workforce dipped below the 200,000 mark ”“ but will quickly top the figure again when UTC completes its acquisition of Goodrich Corp., which at last report had more than 25,000 employees including 500 in Danbury.
Hartford-based UTC owns Sikorsky Aircraft Corp., the largest employer in Fairfield County. Sikorsky cut more than 500 local jobs last year, incurring $73 million in restructuring expenses, but also invested in its local operations including two new leases in Shelton and Milford.
Â
Major pizza loan
GE Capital Franchise Finance provided a $25 million credit facility to support an investment in Anthony”™s Coal Fired Pizza Inc. by an affiliate of The Quilvest Group, a private equity firm.
The financing includes a $17 million term loan and an $8 million revolving credit facility. Funding was provided through Norwalk-based GE Capital’s bank affiliate, GE Capital Financial Inc., based in Scottsdale, Ariz.
Anthony”™s Coal Fired Pizza opened its first store in Florida in 2002 and now has 32 locations, including its newest restaurant on the Post Road in Darien.
“We were in a great position to help both parties using our experience in the space and our relationship with the sponsor, Quilvest,” said Mike Kurtz, vice president, GE Capital, Franchise Finance.
Â
NU CEO had heart attack
Northeast Utilities CEO Charles Shivery acknowledged having a heart attack early this year, but has since recovered sufficiently to participate in a late-February conference call reviewing the utility”™s 2011 results on the eve of the company”™s merger with NStar.
After Shivery was hospitalized in mid-January, Hartford-based Northeast Utilities issued a statement referring to him suffering a “heart-related incident” without specifying the precise nature of the ailment.
Despite the additional costs from dealing with Tropical Storm Irene and the October nor”™easter that knocked out power for prolonged stretches, Northeast Utilities earnings rose 2 percent in 2011 to $395 million. Despite the storms, CL&P reduced the size of its workforce slightly in 2011.
In a conference call, Northeast Utilities CFO David McHale said the company will incur many costs associated with the storms this year.
“We are increasing tree trimming and emergency preparedness budgets, as well as adding about $30 million to (Connecticut Light & Power Co.”™s) distribution capital budget,” McHale said. Those expenditures are expected to reduce earnings by about 5 cents (per share) over the course of 2012.”
Â
UIL tallies storm impacts
The parent company of United Illuminating Co. estimated Tropical Storm Irene and the October nor”™easter cost it $25 million and stated it would seek to recoup $20 million of that in future rate cases as “a regulatory asset.”
UIL Holdings Corp. also stated it expects any additional costs from new laws or regulations resulting from the storms to be “fully recoverable.” United Illuminating provides power in the Bridgeport area.
Due to its acquisition of Southern Connecticut Gas Co. and two natural gas heating companies, UIL increased revenue 57 percent in 2011 to $1.6 billion. Earnings were just short of $100 million, bolstered also in part by UIL”™s stake in two new power plants in partnership with NRG Energy, including one in Milford to be used as a “peaking” plant when additional electricity is needed during heat waves.
Aquarion acquires utility
Bridgeport-based Aquarion Water Co. is acquiring United Water Connecticut Inc., which provides service to more than 21,000 homes in the northwest area of Fairfield County.
United Water communities include Bethel, Brookfield, Newtown, New Milford and Woodbury. Aquarion said the deal pushes it over the 600,000-customer mark in nearly 50 Connecticut communities.
Ruger”™s sales top 1 million
For the first time, Sturm Ruger & Co. sold more than 1 million guns in a single year, with orders reaching nearly 1.4 million in all.
Ruger has its headquarters in Southport and a small facility in Enfield, in addition to its primary manufacturing plants in New Hampshire and Arizona. The company added 60 employees last year to give it 1,225 in all.
Ruger registered a $40 million profit on sales of $329 million, up 29 percent from a year earlier. The first quarter is typically its best due to distributor orders from large firearms shows.
WWE takes a hit
Lackluster movie receipts threw World Wrestling Entertainment Inc. for a loss in the fourth quarter, with WWE CEO Vince McMahon vowing to turn things around.
Stamford-based WWE lost $8.6 million in the fourth quarter as revenue fell 8 percent to $113 million. For the year, WWE saw profits cut by more than half to $24.8 million, despite a slight increase in revenue to $484 million.
Hubbell on the grow
Hubbell Inc. added 500 employees in 2011, giving it at 13,500 its largest ever workforce.
Shelton-based Hubbell sells an array of electric connectors and related equipment for use in both buildings and power plant infrastructure. Sales rose 13 percent last year to $2.9 billion, and Hubbell took $268 million in profits.
