PB completes moves
Pitney Bowes Inc. held the grand opening for its global technology center at 37 Executive Drive in Danbury, where it is shifting some 170 jobs from Shelton where its primary research and development operations have been located.
Stamford-based Pitney Bowes plans to close a facility at 35 Waterview Drive in Shelton, while maintaining a second building there.
In Danbury, the mail services giant now has 650 workers in 300,000 square feet of newly renovated space, focused customer communications management.
“We have made tough decisions to get our fiscal house in order and improve the state”™s business climate, and those decisions are showing results in the form of ”¦ investments from companies like Pitney Bowes,” said Gov. Dannel P. Malloy, in a statement issued the day he toured the facility.
Â
Home sales plummet
Connecticut home sales dropped 13 percent last year to their lowest mark since 1987, according to the Boston-based Warren Group, underscored by a fourth quarter that was likewise the most stagnant on record.
“I think it”™s fair to say we are bumping along the bottom and can only go up from here,” Timothy Warren Jr., CEO of The Warren Group, said in a statement.
The median single-family home in Connecticut sold for $243,000, down from $250,000 in 2010.
Condominium sales were down 16.4 percent, with a median price of $173,000, down from $182,000 in 2010.
Survey lauds People”™s United
Greenwich Associates lauded People”™s United Financial Inc. and 20 other banks for overall satisfaction from small-business customers, with the Bridgeport-based bank singled out for its stability, customer service and branch satisfaction.
Stamford-based Greenwich Associates queried more than 13,500 businesses nationally on their relationships with some 750 banks.
“Our entire team, including our relationship managers, branch staff and back office colleagues, is absolutely focused providing our customers with an extraordinary experience every time,” Jack Barnes, CEO of People”™s United, said in a statement.
Time to lobby
The Connecticut Business & Industry Association set for Feb. 29 its annual Connecticut Business Day, in which it organizes meetings with state legislators to press on various issues.
Co-sponsored by the Connecticut Association of Chamber of Commerce Executives, the event will be held 7:30 to 11:30 a.m. at the Connecticut State Legislative Office Building in Hartford.
Â
Crane whittles claims
Crane Co. took a $272 million charge against earnings in the fourth quarter after extending a timeline on its asbestos liabilities, but expects to save money down the road due to what CEO Eric Fast called “stabilizing” litigation trends.
Crane also increased its expected cleanup payments for a Superfund site in Goodyear, Ariz.
Stamford-based Crane sells aerospace systems, industrial valves and high-tech vending machines, among other products. In the fourth quarter, Crane lifted sales 10 percent to $632 million, boosting its total for the year to more than $2.5 billion, a 15 percent gain from 2010.
Despite the new asbestos and liability provisions, the company still cleared 2011 with a $26 million profit.
“When I came to Crane ”¦ there was 2,500 claims,” Fast said in a conference call. “In 2005, they went up to 89,000 claims and today we”™re roughly at 58,000 claims ”¦ I”™m more encouraged than I”™ve been for quite some time, both in terms of the case war and the stability.”
Social media commerce up
U.S. mobile and social media revenue increased 30 percent last year to $45.4 billion, according to new data from PQ Media.
The Stamford-based company identified 44 revenue streams from mobile and social platforms, with social networks the fastest growing at a 46 percent clip.
Cenveo divests plants
Cenveo Inc. is selling off document printing businesses in several states to Ennis Inc. of Midlothian, Texas.
The Printegra and PrintXcel facilities have $80 million in combined annual revenue. Only one plant is located in the Northeast, in Fairport, N.Y., with Ennis also picking up one in Jaffrey, N.H.
“This divestiture allows Cenveo to focus on our core operations including labels, specialty packaging, envelopes, print and content management,” said Robert Burton Sr., CEO of Cenveo. “We remain committed to executing our game plan of operating niche growth businesses while using our cash flow to invest in and grow our higher margin product groups and de-leveraging our balance sheet.”
CL&P completes storm credits
Northeast Utilities is awarding credits of $140 to 192,000 Connecticut Light & Power Co. residential customers as a result of the punishing power outages following the October nor”™easter.
Northeast Utilities is awarding $30 million statewide, with businesses not eligible for credits. CL&P held a seminar in Stamford last week to assist commercial customers with its varying existing assistance programs.
In a press release, Gov. Dannel P. Malloy reiterated plans to provide the state”™s Public Utilities Regulatory Authority (PURA) more power in forcing utilities to respond.
“We”™re going to introduce a bill that will raise the standards and benchmarks that PURA will implement for utility companies, regulations that will provide a clear incentive for proper preparation and timely repairs,” Malloy said.
DOL sets jobs fairs
The Connecticut Department of Labor scheduled its annual spring career fair in Danbury for March 20 at the Ethan Allen Hotel.
DOL is holding its Heroes4Hire veterans”™ career fair April 27 in East Hartford and also is holding career fairs in Cromwell and Manchester. DOL says its career fairs reach more people than any other employment event in the state in part due to the agency partnering with community colleges and local chambers of commerce.
The Danbury event is cosponsored by Cumulus Media, the city of Danbury and the Greater Danbury Chamber of Commerce, and will be held from 11 a.m. to 3 p.m.
WorkPlace gets AARP grant
The WorkPlace Inc. received a $200,000 grant from the AARP Foundation to expand its Platform to Employment (P2E) program to help those age 50 and older find work who have exhausted their 99 weeks of unemployment benefits.
It was one of 10 awards given out by the AARP Foundation last year.
“P2E is an initiative never before attempted by a workforce investment board,” said Joe Carbone, CEO of the Bridgeport-based Workplace. “The investment by a national operator such as AARP is an acknowledgement of our entrepreneurial approach to workforce development and expands our capacity to assist underserved populations.”
Rutgers University”™s John J. Heldrich Center for Workforce Development is collaborating on the program with the Workplace.
Healthy business awards
The Business Council of Fairfield County is giving “platinum” awards to nine local employers for steps they have taken to create healthier workplaces.
Winning recognition were:
Ӣ Daymon Worldwide Inc., Stamford;
Ӣ Nestl̩ Waters North America, Stamford;
”¢ People’ United Financial Inc., Bridgeport;
Ӣ Pitney Bowes Inc., Stamford;
Ӣ PricewaterhouseCoopers L.L.P., Stamford;
Ӣ Purdue Pharma L.P., Stamford;
Ӣ Sikorsky Aircraft Corp., Stratford; and
”¢ Stew Leonard’s Inc., Norwalk.
The Business Council lists on its website other businesses and nonprofits to win gold and silver awards for their own health programs.
”“ Compiled by Alexander Soule.
