Hartford Baseball Being Broadcast in Spanish, English

The Hartford Yard Goats minor league baseball team has played the first of 70 home games at Dunkin' Donuts Park. The broadcasts, like the season, have begun with new homes. All 140 games will be broadcast on the Yard Goats Radio Network, which can also be heard on-line at yardgoats.com and on smart phone devices through the iheartradio app.  The Yard Goats will also have all home games broadcast in Spanish through a partnership with iHeartMedia and WPRX 1120AM. At part of the team’s outreach to the region’s Spanish-speaking population, pocket schedules in Spanish that will be distributed throughout the Greater Hartford area.  According to the 200 U.S. Census, 43 percent of Hartford's population is Hispanic.  

Jeff Dooley is set to begin his first season as the "Voice of the Yard Goats" after calling New Britain Rock Cats broadcasts for the past 18 years. He is the lead play-by-play announcer for all games on radio and television and hosts complete coverage of the Pre-game and Post Game shows for all games, home and road. His broadcasts can be heard on i-Heart Media Hartford affiliate, News Radio 1410 AM (WPOP), AM 1150 (WMRD), AM 1420 (WLIS). Home games are streamed on MiLB.TV.

Dan Lovallo also returns to the Yard Goats broadcast booth. He broadcast the team’s games on radio from 2000 through 2008 and worked on select broadcasts the last two seasons. He has an extensive background in broadcasting professional baseball and sports in general.  In 1983, Lovallo began broadcasting games for the Kinston, NC Blue Jays, then affiliated with the Toronto Blue Jays. Lovallo moved on to the Richmond, VA Braves in 1985, then the top farm club of the Atlanta Braves.

Dooley was behind the microphone for some of the most memorable moments in Rock Cats history, including three Eastern League Playoff Series, a major league exhibition game with the Minnesota Twins, and the only two no-hitters in franchise history. He was the television play-by-play broadcaster for the 2013 Eastern League All-Star Game and called the 2003 EL All-Star game on radio. Additionally, Dooley was the master of ceremonies at the All-Star Luncheon at the ESPN headquarters in Bristol. Additionally, Dooley is the play-by-play voice of the University of Hartford Men's Basketball Team.

In 1990, Lovallo returned to his home state of Connecticut and eventually joined WDRC radio in Hartford to become news and sports director. He now joins Brad Davis on mornings on the Talk of Connecticut network. His assignments included broadcasting women's and men's professional basketball, college basketball for the University of Hartford.  In addition to Yard Goats broadcasts, Lovallo continues to serve as radio "Voice of the Manchester Road Race," and broadcasts high school football games on WAPJ radio. He is also the publisher and editor of two baseball-related websites, Your Baseball Buzz and Baseball on the Fly.

The team’s 70 home games broadcast in Spanish on 1120-AM WPRX in Hartford, will have the father-son duo of Danny and Derek Rodriguez at the microphone.

"We are extremely excited to partner with WPRX and bring Yard Goats Baseball to a new radio audience," said Yard Goats owner Josh Solomon.  "It is really important to our organization to have our broadcasts also available in Spanish, knowing how much the Hispanic community loves baseball, and we feel this is a wonderful way to reach the Latino community."

WPRX AM 1120 is a community based radio station with local programming such as news, traffic, and weather.  WPRX, which transmits 24 hours a day, 7 days a week, has live on air talent from its studio and also is very involved with local community events making it a natural fit with the Yard Goats.

"We are thrilled to be to partnering with the Hartford Yard Goats and having their home games broadcast in Spanish on our radio station," said WPRX owner Oscar Nieves.  "So many of our loyal listeners love the game of baseball and are excited about the new Yard Goats brand.  We know that this is going to be a home run."

Stamford Ranks #7 Among Small Cities of the Future in the Americas

Stamford is a "City of the Future," ranking seventh among small cities in the America’s for economic growth, according to a new report.  The city ranks behind Sunnyvale, Irvine and Fremont, CA; Bellevue, WA; Ann Arbor, MI, and Fort Lauderdale. Also ranking in the top 10 are Cary, NC; Plano, TX; and Guelph, Ontario.  It was one of three top-ten showings for Connecticut's third largest city. In addition to its overall position among just over 200 cities with populations between 100,000 and 350,000, Stamford placed second among small cities for connectivity, just behind Jersey (New Jersey) and ahead of Newark, Yonkers, Paterson, Elizabeth, and Sunnyvale, Hayward, Fremont and Vallejo in California.

The city also placed ninth for economic potential in the analysis and report released this week by a division of the Financial Times.  The top cities in that category included Sunnyvale, Bellevue, Fremont, Irvine, Cary, Ann Arbor, Waterloo (Ontario), Plano and Chattanooga.

The 2017-18 rankings for the American Cities of the Future were developed by the Financial Times’ FDI unit, which studies foreign direct investment.  In total, 421 locations were analyzed for the study. Data was then collected under five categories: Economic Potential, Business Friendliness, Human Capital and Lifestyle, Cost Effectiveness and Connectivity. ‘Small’ locations (209 locations) had immediate city populations of between 100,000 and 350,000, according to the study’s methodology.

“This is really good news for Stamford,” Joe McGee, vice president of public policy for The Business Council of Fairfield County, told the Stamford Advocate. “This index is closely watched by people who look at the hot places to invest, and clearly Stamford is one of those places. That connection to New York is really advantageous to Stamford.”

Among larger cities, the top 10 in the Americas are New York, San Francisco, Houston, Toronto, Montreal, Vancouver, Boston, Atlanta, and Sao Paulo.

A year ago, Stamford  launched the City’s new business portal,  Stamfordbusinessportal.org, created "to eliminate red tape and streamline the process for planning and starting a small business in Stamford," according to officials.  The multilingual website was designed and created by six interns during the summer of 2015, including four from the Mayor’s Youth Employment Program. The website includes links for permitting and licensing, starting a business and business incentives.

Stamford was the only Connecticut city to earn a spot on the lists.

Independent Analysis Sought for State's Economic Incentive Programs

Timing is everything.  Just days after the Yankee Institute for Public Policy reported that a federal grand jury has indicted a former Vernon resident for using a fake pita company to fraudulently obtain $3 million, including $400,000 from the State of Connecticut, the state legislature held a public hearing on a proposal designed to enhance Connecticut’s analysis of the efficiency and effectiveness of the state’s economic development investments. State Comptroller Kevin Lembo, joined by a broad coalition of open government advocates, testified in support of the legislation.  “Connecticut can and should be one of the most economically competitive states in the nation – but that can only happen if we adopt best practice in how we analyze the success and failures of our economic development programs,” Lembo said.

“The state provides hundreds of millions of dollars in economic incentive programs to Connecticut businesses every year for the purpose of advancing economic development and job creation,” Lembo said. “The state owes it to businesses and all taxpayers to fully analyze the return on investment that these sizable and important programs actually deliver in order to assess whether such resources are fulfilling their intended purpose or, if not, whether state funds would be better deployed to other economic development or infrastructure investments.

The proposal, House Bill 7316, would improve how Connecticut analyzes the success and failures of its economic development investments in several ways, according to the Comptroller’s Office. It will streamline the reporting requirements, while expanding the scope of reporting to include all business assistance and incentive programs. It will subject business assistance and incentive programs to performance reviews by the Auditors of Public Accounts and require the Auditors to review the analysis and reporting performed by DECD on such programs – providing necessary independent oversight.

Lembo pointed out that “Connecticut is now one of only two states in the nation where the success of economic development programs is analyzed by the same agency that administers the programs. An unbiased assessment of the performance and administration of these programs has in other states resulted in opportunities for savings.

The Comptroller noted that his office has worked with both the Auditors of Public Accounts and the Department of Economic and Community Development, to “come to mutual agreement on the bill’s language.” The legislation would also require specific legislative committees to hold public hearings to discuss the results of the evaluations and receive input from stakeholders.

The Yankee Institute report indicated that the state’s Small Business Express program, which offer grants and loans to small businesses, awarded the now-indicted former resident a $300,000 loan and a $100,000 grant in 2012.  The report said that the state funding was meant to retain 11 jobs and hire 25 more people.

A broad coalition of open government advocates and organizations submitted testimony in support of the legislation.

On behalf of The Pew Charitable Trusts, Robert Zahradnik, Director of Policy, State Fiscal Health, said, “In Connecticut, as in many other states, business incentives are both a primary economic development tool and a major budget commitment. For that reason, The Pew Charitable Trusts’ research shows that studying the results of incentives is a vital step for states to create jobs, raise wages, help businesses to grow, and to maintain a balanced budget.”

Derek Thomas, Fiscal Policy Fellow at Connecticut Voices for Children, said, “Unlike general fund spending on education, roads, and other spending on the building blocks to a healthy economy, business tax breaks lack transparency. Once on the books, they can remain for years, or even decades, without scrutiny. A more efficient, transparent, and fair budget process would include regular reviews of all economic development incentives to ensure that tax expenditures are yielding the promised economic development benefits. Just like spending, business tax breaks should undergo regular scrutiny to determine their effectiveness.”

The Small Business Express program, which gives grants and loans to smaller to medium sized businesses, has “assisted 1,687 companies — ranging from 'mom and pop' stores to advanced manufacturing firms — with $267 million in loans and grants to retain 18,671 and create 6,795 jobs,” according to the DECD 2016 Annual Report.  In 2016, there were 194 businesses receiving assistance in exchange for commitments to retain 2,912 jobs and create an additional 931.  Total funding commitments were $35,408, 428 in grants and loans.  A year ago, DECD celebrated the 1,500th company to take part in “the governor’s keystone small business development program, the Small Business Express program,” the DECD report indicated.

Joe Horvath, Assistant Policy Director at Yankee Institute for Public Policy, said, "Good economic policy is broad-based and does not favor single businesses, or even industries. This bill would help provide state officials with critical information in determining which economic development programs fail to provide the returns promised, an important step to ending waste and cronyism in Connecticut." Added Daniel J. Klau, President of the Connecticut Council of Freedom on Information (CCFOI):  “CCFOI is very pleased to support this legislation that enhances public confidence in the effectiveness of economic development investments.”

The streamlined report will focus on the most pertinent information, Lembo said, including economic impact of each program, the extent to which it is meeting statutory and programmatic goals, and the efficiency with which the program is being administered. “These incentive programs reduce tax revenue at both the state and local level, and increase state borrowing. It is essential that the legislature review their impact and make informed decisions about the continuation, expansion or elimination of each program. The changes proposed in this legislation will help our state make data-driven decisions about tax credit and abatement programs, ensuring that we are focusing state resources toward their highest and best use.

Insurance Department Recovers $7.5 Million for Policyholders, Taxpayers in 2016; Highest Total in 4 Years

Connecticut’s Insurance Department recovered $7.5 million for policyholders and taxpayers in 2016, helping individuals, families and employers with their claims and complaints.  That is the highest amount in four years and an increase from the $6 million that the department saved taxpayers and policyholders the previous year. “Connecticut consumers turn to us every year to help them with claims and coverage issues or to just answer questions about their insurance,” said Insurance Commissioner Katharine L. Wade. “Our intervention in 2016 helped thousands of policyholders get much-needed answers, resolution and the benefits to which they are entitled.”

Consumer recoveries and industry fines totaled approximately $6.3 million in 2014, $7.3 million in 2013 and approximately $8.7 million for policyholders and state taxpayers in 2012, the high water mark in recent years.

Commissioner Wade said among the many cases the Department worked on during 2016 was a dispute that involved nearly $170,000 in hospital bills for a victim of a car accident. The patient had health care coverage under two plans – through his employer and as a dependent on his parent’s health insurance. When a dispute arose over which plan was the primary payer, the Department stepped in and determined it was the employer’s plan, which then covered the claims.  Another case involved a motorist whose car was totaled in an accident. When motorist’s insurer initially denied her claim, the Department required that the insurer review the case further. The insurer subsequently paid 100 percent of the motorist’s claims.

The Department’s Consumer Affairs Unit (CAU) fielded more than 5,800 complaints and inquiries and helped policyholders recoup nearly $6 million from January 1 to December 31, 2016, according to officials. Also in 2016, the Department’s Market Conduct division levied approximately $1.6 million in fines against carriers and returned that money to the state’s General Fund. The fines resulted from a variety of violations and settlements ranging from untimely claim payments to improper licensing, the department said.

The majority of the funds recovered for policyholders stemmed from complaints over health, accident, homeowners and life and annuities policies. The  breakdown of funds recovered in 2016:

• Accident, Health - $3.63 million
• Auto - $432,000
• General Liability - $33,710
• Homeowners and Commercial Property - $874,250
• Life, Annuities - $820,000
• Miscellaneous - $160,000

The department announced this month that licensing renewal notices for casualty adjusters and motor vehicle property damage appraisers will now be handled online, with an anticipated savings of nearly $40,000 in processing and mailing costs.The renewals also are now processed online through the National Insurance Producer Registry (NIPR). The licenses expire on June 30, 2017 and are good for two years. The casualty adjuster renewals are expect to generate approximately $6 million for the General Fund.

“The Department is now emailing renewal notices to the 73,000 casualty adjusters and motor vehicle property damage appraisers in Connecticut improving efficiency by saving time and shedding thousands of dollars in mailing and postage costs,” Wade said.

The Department calculates its consumer recoveries based on what the policyholder received as a result of the Department’s intervention. The inquiries and complaints also help the Department identify industry trends that may adversely affect consumers and trigger investigation by the Market Conduct division.  Complaint data also help determine topics for consumer education and serve as tools to help the Department monitor the industry.  The Market Conduct enforcement actions are posted on the Department’s Web site at www.ct.gov/cid

Strong Defense: Where CT's Jobs Will Be

“As a convergence of technological advancements, changing military demand and shifting workforce demographics force a major period of transformation across the (defense) industry, Connecticut must adjust its approach to workforce development and retention, or risk losing its competitive edge to other regions.” That’s the conclusion of a 23-page policy brief issued by CT21 which analyzed the pitfalls and potential of the aerospace and defense industries - a “significant pillar of Connecticut’s economy” - and the state’s workforce, on the brink of what the report describes as “an inflection point” for the state.

“With a workforce that is aging into retirement faster than the current pipeline of workers can fill the gap, existing training programs are being strained to both produce higher numbers of qualified graduates and keep their programs current with the skills industry needs,” the report indicated.

To solve this multi-faceted challenge, CT21 calls on state officials to:

• Expand existing training programs and launch new ones
• Increase industry input into training program development
• Expand the workforce applicant pool
• Incentivize the retention of retiring industry expertise

“The full ecosystem around the defense industry in the state must come together to address these overlapping trends – and many of these collaborative initiatives are already producing significant results – but state government still has a unique role to play in bringing the right ideas to the table,” the report explains.

The report notes that the 2016 Aerospace and Defense Workforce Study conducted by Aviation Week and Space Technology found over a quarter of the nation’s A&D workforce is over the age of 55. To highlight the local impact, 35% of Electric Boat’s workforce is within ten years of retirement. Over 7,800 workers have 20 or more years of service, and nearly 950 have 40 or more.

By way of illustration, the report devoted attention to United Technologies’ Pratt and Whitney.

“Based on projections for deliveries of military and commercial engines, Pratt expects to double production by 2020 and again by 2027. As of last September, the company expected to hire nearly 8,000 new workers in Connecticut over the next decade, including 1,000 engineers and 1,000 manufacturers in the next year. Pratt operates a business model that also relies heavily on the supply chain, with 85% of its engine parts being manufactured elsewhere.”

The report calls on state government to take a range of actions, including:

1. Expand existing training programs and launch new ones
2. Increase industry input into training program development
3. Expand the workforce applicant pool
4. Incentivize the retention of retiring industry expertise
5. Create additional professional growth opportunities
6. Take steps to improve the quality of life – both real and perceived
7. Expand existing training programs and launch new ones
8. Increase industry input into training program development
9. Expand the workforce applicant pool
10. Incentivize the retention of retiring industry expertise

Among the challenges the report cites are increasing competition from other industries and variable quality of life across the state. To respond, CT21 urges that state to create additional professional growth opportunities and improve quality of life statewide. CT21 stresses that the state must “leverage the opportunity before us to truly put Connecticut on a path towards a prosperous future.”

The Connecticut Institute for the 21st Century provides continuing opportunities for its members and other organizations to understand and discuss economic activity in the state and obstacles to its success. For more information, visit www.CT21.org

Pay Equity Gap Persists in CT, Nationwide

In Connecticut, median annual pay for a woman who holds a full-time, year-round job is $50,802 while median annual pay for a man who holds a full-time, year-round job is $61,666. This means that women in Connecticut are paid 82 cents for every dollar paid to men, amounting to an annual wage gap of $10,864.  Connecticut’s gap ranks as the 37^th highest among the states. That’s according to the National Partnership for Women & Families, which released state-b-state pay gap data for Equal Pay Day on Tuesday that reveals the size of the gender wage gap and its detrimental effects on women’s spending power in all 50 states.

The gap varies by state, but the largest cents-on-the-dollar differences are in Wyoming (36 cents), Louisiana, West Virginia, Utah and North Dakota. The smallest cents-on-the-dollar differences are in New York (11 cents) and Delaware.

The data for Connecticut also indicate that the wage gap is even larger for women of color. Among Connecticut women who hold full-time, year-round jobs, Black women are paid 58 cents, Latinas are paid 47 cents and Asian women are paid 80 cents for every dollar paid to white, non-Hispanic men.

On average, Connecticut women who are employed full time lose a combined total of nearly $15 billion every year due to the wage gap, the National Partnership reported. “These lost wages mean women and their families have less money to support themselves, save and invest for the future, and spend on goods and services. Families, businesses and the economy suffer as a result,” the organization pointed out.

According to data highlighted by the National Partnership, in Connecticut more than 170,000 family households are headed by women.  About 24 percent of those families, or 40,431 family households, have incomes that fall below the poverty level. Eliminating the wage gap, they suggest, would provide much-needed income to women whose wages sustain their households.

If the annual wage gap were eliminated, on average, a working woman in Connecticut would have enough money for:

• More than 11 additional months of child care;
• Nearly one additional year of tuition and fees for a four-year public university, or the full cost of tuition and fees at a two-year community college;
• Approximately 82 more weeks of food for her family (1.6 years’ worth);
• More than five additional months of mortgage and utilities payments; or
• Nearly 10 more months of rent.

“Equal Pay Day is a painful reminder that women in this country have had to work more than three months into this year just to catch up with what men were paid last year,” said Debra L. Ness, president of the National Partnership. “This analysis shows just how damaging that lost income can be for women and their families, as well as the economy and the businesses that depend on women’s purchasing power. Entire communities, states and our country suffer because lawmakers have not done nearly enough to end wage discrimination or advance the fair and family friendly workplace policies that would help erase the wage gap.”

In the nationwide data, the civilian industries that employ the most full-time employees – health care and social assistance, manufacturing, retail trade and educational services – pay women less than men. In the health care and social assistance industry, women are paid just 72 cents for every dollar paid to men. In manufacturing, just 76 cents. In retail trade, 79 cents. And in educational services, 88 cents. Across all industries, women are paid lower salaries than men.

The wage gap data reflects statistical analysis showing that 62 percent of the wage gap can be attributed to occupational and industry differences; differences in experience and education; and factors such as race, region and unionization. That leaves 38 percent of the gap unaccounted for, according to the analysis, leading researchers to conclude that factors such as discrimination and unconscious bias continue to affect women’s wages

The National Partnership for Women & Families is a non-profit, non-partisan advocacy group dedicated to promoting fairness in the workplace, access to quality health care and policies that help women and men meet the dual demands of work and family. Equal Pay Day marks how far into the new year women must work in order to catch up with what men were paid in the year before.

CT Is a Top Ten State - In A Good Way

Awash in a sea of negativity amidst yet another state budget deficit and intensifying concern about the prospects of additional fees, taxes, and service reductions, state residents now have an opportunity to accentuate the positive, courtesy of the 2017 Connecticut Economic Review. Noting that Connecticut is “at the epicenter of the Northeast” and “at the forefront of innovation,” the publication highlights an array of statistics that produce a “dynamic blend of advantages that make Connecticut a great place to start or grow a business.”

Among the key stats:

• Connecticut ranks #3 in the country for the percentage of employees with advanced degrees - more than 400,000 employees have advanced degrees. And Hartford was identified as one of the 19 global Knowledge Capitals by the Brookings Institution.

• Connecticut ranks #4 among the top states for private R&D investment per capita, at $2,227. Massachusetts, Delaware and California are the only states that rank higher. That’s also more than twice the national average.

• Connecticut ranks #5 among the states for productivity per person, and #6 on the State Technology and Science Index, which benchmarks states on their science and technology capabilities and broader commercialization ecosystems that contribute to company growth, high value-added job creation and overall economic growth.

The state’s growing bioscience industry is responsible for more than 35,000 bioscience employees in over 2,000 companies. Connecticut also ranks #6 for academic R&D growth and #7 for state R&D investment.  Overall, the state ranks 5^th in patents per capita and has 39 percent more patents than the U.S. average. Two Connecticut companies, Alexion and priceline.com, have been named by Forbes as among the nation’s most innovative companies.

In his introduction to the economic report, Governor Dannel Malloy points out that “Connecticut has grown to become a global hub in bioscience, digital media and green technology. We enjoy a combination of a real entrepreneurial spirit, remarkable experience and one of the most educated and productive workforces in the world.”

The New Economy Index, which measures how states are positioned to drive economic evolution in today’s changing society, ranks Connecticut #8 in the U.S., indicating that the state “offers the kind of environment that is particularly conducive to growth for companies that are capitalizing on the latest global economic trends.  (The top seven are Massachusetts, Delaware, California, Washington, Maryland, Colorado and Virginia.)  The ranking is based on measures in five key areas:  Knowledge jobs, Globalization, Economic dynamism, digital economy, and innovation capacity.

Produced by the Connecticut Economic Resource Center, the publication was sponsored by Eversource.

North Stonington Entrepreneur Is CT's Small Business Person of the Year

Carla Bartolucci, President & CEO of Euro-USA Trading/Jovial Foods of North Stonington, has been named the U.S. Small Business Administration’s 2017 Connecticut Small Business Person of the Year, SBA’s top annual award. According to the company’s website, Jovial Foods, Inc. was founded by a husband and wife team who have always been passionate about food, farming and traditions. Carla and Rodolfo met in the 1980’s in Bologna, where she was spending a year abroad studying Italian and he was studying agriculture. Both were born into family of talented home cooks, he in Italy and she in New England, and food was at the center of their childhoods.

She began her work in the organic food industry by creating the bionaturae brand of organic foods from Italy in 1996, after losing both of her parents to cancer by her mid-twenties, her website biography says.

“As soon as I set foot into an organic food store, I knew I wanted to get involved in organic farming and food manufacturing,” Carla Bartolucci explains. “After losing my parents, I couldn’t help but feel compassion for anyone suffering from disease or hardship, and creating good food, true and pure, was my way of caring for others.”

“We are extremely excited to honor a truly amazing line up of small business owners and champions this year, said Anne Hunt, SBA’s Connecticut District Director.  It is important to recognize these outstanding small businesses in the state as they are the job creators, innovators and the fabric of our local communities!”  “We hope the small business community will join the SBA and our host, SCORE for an inspiring awards luncheon on May 2nd in New Haven, CT.”

2017 Connecticut SBA Honorees:

• Woman-Owned Small Business - Elizabeth Florian, Grassroots Ice Cream
• Family-Owned Small Business - Beverlee Dacey, Amodex Products Inc.
• CT Microenterprise Award - Katalina Riegelmann, Katalina’s Bakery
• Minority-Owned Small Business - Miguel Tomassio, Taco Loco
• Young Entrepreneur Small Business of the Year - Ashley Stone, Beauty Entourage
• Financial Services Champion - Kim Rodney, Connecticut Community Bank
• Entrepreneurial Success - Flavia Naslausky & Camilla Gazal, Zaniac Greenwich
• Exporter of the Year - Monica Goldstein, Recovery Planner
• Home-Based Business of the Year - Mary Goehring, Transcription Plus

The slate of leading small businesses owners in Connecticut will be honored at the Annual Small Business Week Awards Luncheon at Gateway Community College in New Haven on May 2.

“Your hard work, innovative ideas, and dedication to your employees and community have helped you build an outstanding business that has strengthened your state’s economy. The SBA is pleased to celebrate your achievements and recognize your personal role in driving our nation’s economic growth,” said Linda McMahon, administrator of the Small Business Association and a longtime Connecticut resident. The 2017 National Small Business Person of the Year will be announced at the ceremonies, along with three runner-ups.

Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week, which recognizes the critical contributions of America’s entrepreneurs and small business owners.  This year, the dates are April 30 - May 7, 2017, with national events planned in Washington, D.C., New York City, Indianapolis, Dallas, and Fresno, California.

For more information and a complete list of Small Business Week events during the week of April 30 - May 7, 2017, visit www.sba.gov/ct.

https://youtu.be/50DcZn-9ce0

World’s Most Ethical Business: Three Headquartered in CT

Three Connecticut-based companies are among the world’s most ethical businesses. Norwalk-based Xerox Corp, Danbury’s Praxair Inc., and The Hartford, located in the Capital City are on the 2017 list developed by Ethisphere Institute, a Scottsdale, Arizona organization that measures corporate ethical standards.  The annual list has been published since 2007.

The Ethisphere Institute announced 124 companies spanning five continents, 19 countries and 52 industry sectors as the 2017 World’s Most Ethical Companies® honorees.

Ethisphere honors companies that “recognize their role in society to influence and drive positive change in the business community and societies around the world,” a news release announced the list stated. “These companies also consider the impact of their actions on their employees, investors, customers and other key stakeholders and leverage values and a culture of integrity as the underpinnings to the decisions they make each day.”

Xerox is one of only 13 honorees that have been named to the list for all 11 years, underscoring the company’s commitment to leading ethical business standards and practices.  The Hartford earned a spot on the list for the ninth time.

“At Xerox, we take great pride in our name being synonymous with innovation, quality and integrity,” said Jeff Jacobson, chief executive officer of Xerox. “We are committed to doing business the right way, with the highest degree of ethics and in compliance with laws worldwide.”

Among the 2017 list of companies are 13 eleven-time honorees and 8 first-time honorees. 2017 also marks the first-time appearance of a Mexico-based company.

The methodology is weighted into five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).  Non-profit colleges and universities, governments, governmental agencies, and NGOs are not considered for inclusion on the list.

“At Praxair, ensuring a culture of ethics and compliance is paramount to doing business the right way and is top of mind for all of our global employees,” said Steve Angel, Praxair chairman and chief executive officer. “It is a great honor to be recognized as a World’s Most Ethical Company and I thank all of our employees for their dedication to our core values and making this accomplishment possible.”

“Over the last eleven years we have seen an impressive shift in societal expectations, aggressive emergence of new laws and regulation and geopolitical swings that can further disrupt the balance. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion and focus on long term-ism as a sustainable business advantage. In short, these companies are transformative, not just out of need, but because they recognize that integrity is the key to their advancement,” explained Ethisphere CEO, Timothy Erblich.

Xeorx is one of 13 companies have made the list every year, including: Aflac, Deere & Company, Ecolab, Fluor, GE, International Paper, Kao Corporation, Milliken and Company, PepsiCo, Starbucks, Texas Instruments, and UPS.

The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way, according to the Institute. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.

Municipal Finance to be Focus of Conference, State Leaders

State aid to municipalities will be the focus of attention Wednesday at the State Treasury’s Public Finance Outlook Conference, when Office of Policy and Management Secretary Ben Barnes is joined on a panel by House Minority Leader Themis Klarides and House Speaker Joe Aresimowicz before an audience of finance officials and municipal leaders from communities across the state. Proposed reductions and revisions to municipal aid, a by-product of the state’s anticipated deficit, have been the source of much conversation and contention in recent weeks, with leaders of the state’s cities and towns raising concerns about plans that would have them pay more for resident state troopers, teacher retirements, K-12 education and other programs.

The Connecticut Conference of Municipalities (CCM) recently pointed out that while the state economy grew by 17 percent between 2006 and 2015, state expenditures grew by 48.9 percent during the same period. The organization also reported that excluding K-12 education, local general government expenditures in Connecticut rank 50^th out of all states and the District of Columbia as a percentage of the U.S. Treasury’s measure of total taxable resources.

In a report recommending changes in the state’s fiscal relationship with cities and towns, CCM observed that “for over a decade prior to the Great Recession, governments in the state benefited from a strong economy and stable revenue. But this stability depended on reliable, adequate state aid and the local property tax. The lack of diversity in revenue sources and uncertainty at the state level are now eroding the capacity of local governments to meet their obligations to the public.”

State Rep. J.P. Sredzinski (R-112) wrote last month that “Monroe ranks among the top ten ‘biggest losers’ in terms of how much municipal aid was cut compared to their town budgets. For Monroe, the costs that the governor’s budget proposal will shift onto taxpayers clock in at a whopping $6.5 million for this year alone – nearly 10% of our revenue. This unprecedented transfer of costs is neither predictable, nor sustainable.”

The day-long conference on March 29 will also include a panel discussion with the U.S. Head of Government Regulations and Regulatory Policy, Bret Hester, and a review of methods to protect municipal governments from cyber hacking and theft, featuring David Geick, Director, IT Security Services, Bureau of Enterprise Systems and Technology, State Department of Administrative Services; Christopher Hauser, 2nd Vice President, Cyber Risk, The Travelers Companies, Inc.; Jack McCoy, Chief Information Officer, Town of Manchester.

An economic update, highlighting current and anticipated trends, will be provided by the state Department of Labor’s Patrick Flaherty, Assistant Director of Research and Information, and the Treasury’s Short-Term Investment fund and Municipal Employees Retirement Fund will provide updates.

The Treasurer’s Short-Term Investment Fund (STIF) is a Standard & Poor’s AAAm rated investment pool of “high-quality, short term money market instruments,” the Treasury website explains. STIF serves as an investment vehicle for the operating cash of the State Treasury, state agencies and authorities, municipalities, and other political subdivisions of the State. As of June 30, 2015, the fund administered 939 active accounts for 67 state agencies and authorities and 222 municipalities and local entities in Connecticut.

The conference will be held at Rentschler Field in East Hartford.