The CT Business Weekly took Labor Day Weekend off, but we’re excited to keep going after a successful launch last month. Thank you all for reading and subscribing!
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Photo by Markus Leo on Unsplash
The Breakdown
Headlines from the past week
Report: CT economy operating at 86% of pre-pandemic levels
An analysis from Moody’s Analytics provides a welcome sign of recovery for the state. Northern neighbors Maine, Vermont, Rhode Island and New Hampshire are operating at an even higher percentage of their pre-pandemic levels while Massachusetts is a bit lower at 75% and New York is at 72%.
CONN-OSHA answers your safety questions
On a monthly basis, a Connecticut Occupational Health & Safety expert answers questions relating to workplace safety. This edition takes a look at a key question related to COVID-19 reporting.
How Pratt ran virtual internships this summer
Everyone has had to adapt due to the conditions surrounding the pandemic. Because internships can be valuable for attracting top talent, there may be something to learn from the way one of CT’s largest employers is doing it.
Study ranks Connecticut schools third-best in the country
This is the kind of thing that should be on everyone’s career pages and shared with your recruiting teams! It’s well-known that Connecticut has good schools but to have this kind of external validation offers powerful proof.
Deadline for Sexual Harassment Prevention Training Approaching
With the October 1 deadline near, the Connecticut Employment Law Blog shares useful insight and resources to help you get compliant on this important requirement.
Edgewell finalizes purchase of Cremo
The Shelton-based company has closed on the $235 million acquisition of Cremo, a high-end men’s grooming product maker. According to New Haven Biz, Edgewell is best known for its “Schick and Wilkinson Sword men's and women's shaving systems and disposable razors, and Edge and Skintimate shave preparations.”
Liberty Bank leases space in downtown Hartford
Some good news for the commercial real estate market in the state capital. Liberty Bank told Hartford Business Journal it is signing a 5-year lease at 100 Pearl Street.
Hilton Hartford to be auctioned due to impact of pandemic
The 388-room hotel located at 315 Trumbull Street will be auctioned with the help of the city.
Connecticut community colleges training displaced workers for healthcare jobs
These schools could be good sources for skilled talent that is eager to get back to work.
Startup Spotlight
Biorez
The New Haven-based healthcare technology company was founded in 2016 following a rebrand of its predecessor company, Soft Tissue Regeneration. It recently closed a $3.5 million funding round to bring its funding total to $7 million, according to New Haven Biz. Based at the District innovation campus at 470 James Street, Biorez is developing a product called BioBrace, whose goal is to speed the recovery and improve the success rate of patients after ACL surgery.
Company CEO Kevin Rocco said they will use the funding to advance FDA clearance and make its commercial launch by next year.
“Our vision is to help surgeons help patients return to normal activity sooner and safer,” Rocco told New Haven Biz.
Bookmark for Later
A national trend or piece of news worth keeping in mind.
This was a really interesting article on the outgoing President and CEO of Kaman Corporation Neal Keating, who took over in 2008 as the company was looking to recover from the financial market crisis.
During his time leading the Bloomfield-based manufacturer which employs over 5,000 people, Keating made a few major decisions which changed the course of the company’s trajectory. This included selling off the company’s music subsidiary and the 2015 acquisition of a German manufacturer to enter the medical device space.
According to the Hartford Business Journal, “When Keating started as CEO in Jan. 2008, the company’s stock price was in the $30 range. Today it hovers around $47.”
Notable Non-Profit
The Kadiwaku Family Foundation USA connects refugees and immigrants with resources they need to thrive in this country. These communities are disproportionately impacted by the pandemic, in cases and deaths but also in representation among the essential jobs that are keeping this country running during this public health crisis. If any of your employees fit this description, Kadiwaku Family Foundation USA could be a good organization to share with them for support.
Trivia
Did you know Connecticut is home to one of the oldest continuously running businesses in the country?
While the Hartford Courant, founded in 1764, rightfully gets its credit for being America’s oldest continuously running newspaper, Field View Farm in Orange has them beat by over 100 years.
Founded in 1639 by Thomas Hines, Field View Farm has been a family-owned business for over 12 generations. This 1989 profile in the New York Times highlights how the farm survived through the centuries. It maintains the interest of locals and tourists alike for its novelty as well as the ice cream and other dairy products. After a fire in 1996, the company expanded into new offerings to stay alive, including transportation services.
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 and in-person events for broader interests.
Tuesday, Sept. 15 - Fireside chat with Y Combinator CEO - A chance to hear from Michael Seibel, CEO and Partner at Y Combinator. Previously, Michael was the co-founder and CEO of Justin.tv which later became Twitch and sold to Amazon in a multi-billion dollar deal.
Tuesday, Sept. 15 - Free COVID-19 testing - in Hartford
Tuesday, Sept. 15 - A Night of Pinot and Prevention - Enjoy a large dose of laughter and support the Heart & Vascular Institute’s Women’s Heart Wellness Program.
Tuesday, Sept. 15 - Disability:IN Connecticut: Creating Barrier Free Virtual Recruiting - how to set up a virtual recruiting process, including interview spaces, virtual “booths” and more.
Wednesday, Sept. 16 - Hartford Athletic vs. New York Red Bulls II @ Dillon Stadium concessions for the day support Wings of Freedom Animal Rescue. You can find out about volunteering for that here.
Wednesday, Sept. 16 - The Basics of Data Literacy - webinar from the Connecticut Data Collective: improve your own ability to read, communicate, and use data.
Thursday, Sept. 17 - Parkville Sounds Music at the Market - free outdoor concert series at the newly opened Parkville Market in Hartford.
Thank you so much for reading the CT Business Weekly! If you came across this newsletter via social media or elsewhere, we’d love it if you subscribed!
As a parting note, the Land of Steady Habits waves goodbye to fashion mogul Tommy Hilfiger, who is selling his massive property in Greenwich. This 22-acre estate could be yours for the low, low price of $47.5 million.
Why We Started the CT Business Weekly
Keeping up with the news can make a big difference in a working professional’s performance and their company’s bottom line, especially in these rapidly changing times.
We want to help you make better, more informed decisions on a week-to-week basis.
Our team at Connect Media runs two sports news sites and also covers workplace trends for a national business publication. We do social media, blogging, web copy, and research writing for small business and non-profit clients as well. There were a few observations from these experiences that led us to launch the CT Business Weekly.
First, very few people have the time to read all of the relevant news in their field. There is no simple way to stay on top of trends in the local regulatory environment, labor supply, and consumer markets. These are going to be three focus areas of our coverage and eventual reporting.
Second, traditional media is limited in its ability to provide thorough, informative business journalism. Cuts over the past few decades have decimated newsrooms, with local coverage being hit particularly hard. Today, one would be hard-pressed to find a website that serves as the “front page” of Connecticut business news. We’re hoping to fill that role for the roughly 1.8 million people working in this state.
If you ever have a topic of interest or feedback, please feel free to email: aman.kidwai@goconnectmedia.com.