Welcome to the first edition of the CT Business Weekly, a free newsletter for Connecticut’s sharpest business minds!
Through this newsletter, we hope to cultivate a community of forward-thinking managers who like to stay informed and are always working on their next great idea. Our mission is to help you make smarter decisions and also feed your curiosity.
The Breakdown
Headlines from the past week
blumshapiro Announces Merger with The Brighton Company
The regional advisory, tax, and accounting firm headquartered in West Hartford, with offices in Massachusetts, Rhode Island, and Virginia, is joining forces with The Brighton Company, located in Burlington, Mass., which will retain its main office and bring the employee count for the combined organization over 500.
Stanley Black & Decker sees rising impact of Trump’s tariff battle with China
The fixture of Connecticut’s business scene, Stanley Black & Decker estimates the impact of the Trump Administration’s trade feud with China to be between $250 million to $275 million. A business economist told the Hartford Courant that nearly all of the state’s manufacturers will feel the impacts of this tariff war, adding that in addition to incurring higher costs, the tariffs create a “logistical nightmare.”
CT bill would put utilities on the hook for outage costs
A bipartisan group is proposing the “Take Back Our Grid Act” to drive better accountability for utility companies, especially with respect to extended power outages.
Connecticut adds 26,500 jobs, future outlook remains dicey
U.S. Department of Labor data is showing that Connecticut’s job growth continues, as does that of the nation. However, experts warn the economy still has plenty of disruption ahead. One of the best things CT has going for it is the way it has handled the coronavirus pandemic, which is giving local advocates optimism for continued improvement in the state.
The shaky ground of Connecticut’s summer tourism & Connecticut’s restaurant industry on edge
This almost goes without saying, but tourism, hospitality, and foodservice, in particular, are going to continue to feel the pinch of the pandemic even during recovery. Do your best to support and work with these organizations which contribute so much to the character and culture of your town and state!
Jersey Mike’s Subs opening in Groton
I enjoy Jersey Mike’s greatly and am always craving more variety in CT’s fast food scene. This is their 18th store in Connecticut and 36th in New England. The New Jersey-based company told The Day it has more than 2,500 locations across the country.
Startup Spotlight
Feel Good Lab
Feel Good Lab was founded in 2016 by three friends from the University of Connecticut and has since grown into a company poised for long-term success! They offer two over-the-counter topical products for chronic pain: a Sport Recovery Lotion and a Natural Pain Cream. Most importantly, the product is 100% natural, containing no silicones, parabens, dyes, phthalates, formaldehyde, PEG, petrochemicals, artificial fragrances, or GMOs, according to their website.
“I grew up in Connecticut, went to the University of Connecticut, met my two co-founders at the University of Connecticut, lived here afterwards, and when we first started the company we had plans to move it to California, in fact, we actually incorporated in California for the first year,” Ryan Gresh, CEO and co-founder, told FOX61. “But, what we learned in 2017, as we were building this business… we found being a small fish in a small pond was so much more beneficial… we care about the state, and so we decided to move the business back to Connecticut.”
In 2019, Feel Good Lab was one of 100 finalists to participate in the 2019 MassChallenge Boston Accelerator, one of the top startup incubator programs in the northeast. Their products are now available in Target and CVS stores.
Bookmark for Later
A national trend or piece of news worth keeping in mind.
Huffington Post: The Flawed Practice of Hiring for Culture Fit
Notable Non-Profit
Foodshare is an amazing organization that has really stepped up during the pandemic. They just released an updated schedule of events over the next couple of months. Find out how to donate or volunteer here.
Trivia
You all know ESPN, the global sports entertainment giant. But did you know that its founder was fired from his previous job before starting the company? Bill Rasmussen, founder and the first President & CEO of ESPN, was Communications Director for the WHA’s New England Whalers for four years before being fired after the 1977-1978 season. He would incorporate ESPN that summer and the network went live September 7, 1979. The rest is history.
Today, the company still makes its home in Bristol and boasts an expansive campus containing nearly 1.2 million square feet in 18 buildings on 123 acres, with another 500,000 sq. ft. rented nearby for its 4,000+ employees.
Upcoming Events
In normal times, this section will contain a listing of events (networking, conferences, etc.) around the state. For now, we’re posting online events that may be of interest and anything we can find with a local flavor.
Tuesday, Aug. 25 - Product School: Live Product Management Chat with Airbnb
Wednesday, Aug. 26 - Emerging Issues in Cybersecurity & Privacy Law
Wednesday, Aug. 26 - How To Create Your Social Media Gameplan
Friday, Aug. 28 - Excel - Quick Tools & Shortcuts for Every Day
Saturday, Aug. 29 - Shred Day - Dispose of your unwanted personal documents safely and securely
Email marketing software provider MailChimp is hosting a series of webinars this week, as part of its Building Business week. Topics include:
Top Trends for Holiday 2020
Developing Compelling Creative
Building Your Brand to Stand Out
Small Business Insights from Tech Partners
About the Author
Hi, my name’s Aman Kidwai. I’m a Class of 2010 UConn graduate who has worked in corporate sales, data analysis, and consulting before moving into media. My work has been published by Gartner, NPR, The New Haven Register, Front Office Sports, and more. I got my journalism start back in 2013, covering UConn sports for SB Nation. It was -- and still is -- a labor of love which took up a lot of nights and weekends but has taught me a lot about writing for digital audiences. In early 2020 I started working for Industry Dive, covering topics such as immigration, workplace tech, D&I strategy, and am also working on an MBA part-time.
I’m hoping these experiences will help create a useful weekly email that allows you and your peers to navigate uncertainty and the nuances of this market.
The goal of CT Business Weekly is to support the Connecticut business community by helping its leaders stay on top of the state’s ever-changing business landscape, including policy and trends. We’re always open to feedback, which you can send directly to me: aman.kidwai@goconnectmedia.com.