Women at Disadvantage in Seeking IPO Investments, Research Study Finds

A new study by academic researchers into decisions regarding the financing of Initial Public Offerings (IPO) of fledgling businesses has found "one significant and persistent effect on investor perceptions that did influence those evaluations—the gender of the CEO.” Even though women-owned firms represent almost half of U.S. new businesses, female founders and CEOs of start-ups fared poorly in an IPO simulation involving MBA students, the researchers found – a result of interest to Connecticut’s business start-up, venture capital, and entrepreneurial communities, at a minimum.

The study found that the amount of money that participants recommended for investment in a fictionalized initial public offering for a cosmetic-surgery company was almost 4 times higher if the CEO was identified as male.  In fact, the anticipated share price of IPOs led by male CEOs was approximately 11 percent higher than those of female-led IPOs, suggesting that bias explains why successful female-led IPOs are an "extremely rare phenomenon," the researchers point out.

The paper,recently  published and now available through the Social Science Research Network, was conducted by Lyda S. Bigelow, Leif Lundmark and Robert Wuebker of the University of Utah and Judi McLean Parks of Washington University in St. Louis.

“Skirting the Issues: Experimental Evidence of Gender Bias in IPO Prospectus Evaluations,” stresses that “given the impact of entrepreneurial activity around the world, the question of how entrepreneurs finance their ventures is a crucial question, as adequate capitalization for a new venture can make the difference between firm survival and failure. Whether a spin-off or start-up, firms that seek to grow beyond initial size at founding rely on the decisions of potential investors for the necessary financial resources.”

Given that women executives are present in the top management teams of IPO firms in increasing numbers, the lack of female-led IPO firms is a “curious fact, especially since women-owned private businesses represent almost half of the new businesses formed in the United States, with patterns of founding similar to male-owned businesses.”

In the study, using a sample of MBA students the researchers constructed a simulated initial public offering (IPO) manipulating the gender demographics of the top management team. Their results suggested that female CEOs “may be disproportionately disadvantaged in their ability to attract growth capital when all other factors are controlled.”

Despite identical personal qualifications and firm financials in the scenario, the study results indicated that:

• firms led by females were seen as having a poorer strategic position than those led by males,
• female Founder/CEOs were perceived as less capable than their male counterparts, and
• IPOs led by female Founder/CEOs were considered less attractive investments.

“The disparity is significant, as is its potential economic and social impact,” the researchers state. “If companies led by females are disadvantaged in their ability to raise cash through the stock market, it can impact the viability and financial health of their companies, their ability to expand and compete in an increasingly global and competitive environment, and if they are unable to remain viable, their employees’ livelihoods.”

The 43-page research report also suggests that gender bias may extend beyond IPO’s to other disciplines within the financial world, and urge additional study.

Future research, they suggest, “could explore whether or not these findings extend to financial professionals such as bank loan officers or venture capital investors, and could investigate the role that prior experience plays in that process. This is an important question, as financial professionals, making investment decisions for individuals and institutions, control enormous amounts of money (for example, the combined assets of the nation’s mutual funds exceed $7.4 trillion, retirement funds exceed $2.7 trillion, closed end funds exceed $20 billion and exchange traded funds weigh in at $174 billion,” the research team pointed out.

Photos:  Judi Parks (left), Lyda Bigelow

Western Connecticut Earns Acclaim for Performing Arts Center, Theater Program

It turns out that the phrase “build it and (they) will come” applies to more than a fictional baseball story.  At Western Connecticut State University, the new Visual and Performing Arts Center, opened last fall, is already drawing accolades, and with it a brighter spotlight on the school’s academic theater program. The latest one-two punch of notoriety comes from OnStage, a Connecticut-based blog dedicated to “promoting theatre from Broadway to your hometown,” with the announcement that Western’s Bachelor of Arts in Theatre Arts program is one of the 10 best in the country in 2015.  In addition, the facility itself has been ranked at #9 among the Top-25 "Most Amazing" Campus Arts Centers by the website CollegeDegreesResearch.net.

The website commended the facility’s “three wings separated by a lobby featuring a bridge which appears to float above stunning maple floors. The studio theater has a flexible stage that can be set as an oval, or round shape, or as a square, while the main stage theater has more of a traditional setup, and both have the latest in audio/visual technology. This 130,000 square foot beauty was finished just a few months ago and quickly earned LEED silver certification.”

Joining WCSU in the top 10 were performing arts centers at: California Polytechnic State University, Emerson College, Sonoma State University, University of North Texas, Rensselaer Polytechnic Institute, Emory University, Lynn University (FL), Soka University (CA), and University of Northern Iowa.  The institutions were praised for facilities that “possess great functional beauty and inspirational qualities.”

In naming WCSU’s theatre program to its Top-10 list, Chris Peterson, OnStage editor-in-chief, wrote:

“It’s very rare to find a state university commit as much to the theatre arts as WCSU has in the past couple years. This past fall they opened their brand new $97 million Visual and Performing Arts Center. This stunning new facility is home to a 350-seat theatre, a 125-seat studio theatre, a 350-seat concert hall, an art gallery, a recording studio and state-of-the-art rehearsal, classroom and studio art facilities.”

At number 10, WCSU rounds off a list that includes James Madison University, the University of Alabama, the Catholic University of America, Muhlenberg College, Drew University, Wesleyan University, Bennington College, Pepperdine University and Willamette University.

The comments aren’t limited to the facility, quickly moving on to the program offered by the state university, which maximizes its geographic proximity to New York City.

“The program at WCSU is also very strong. Students can receive their B.A. in Theatre Arts with concentrations in Performance, Design/Technology, Theatre Arts Management, Drama Studies or receive their B.A. in Musical Theatre. While learning from professional resident faculty, students will have the chance to participate in the Edinburgh Fringe Festival and an annual New York City Showcase, ‘WCSU Off-Broadway.’ They also do a ton of community outreach by performing children’s productions throughout the year… The tuition is quite reasonable for a state institution and given the quality of the program and the facilities you can work in, I’d say this is a steal.”

The university points out that "graduates of the school’s programs in art, music and theatre have become successful within the creative sector of our economy as performers, educators, designers, artists, and entrepreneurs."

The criteria used to determine the top ten, according to the website, included tuition/value, faculty, facilities, productions and resources beyond campus. Colleges with “both B.A. and B.F.A. degrees have incredible facilities and faculty because they have both programs; this list only contains schools that have B.A.’s alone.”  WCSU is part of the Connecticut State Colleges and Universitys (CSCU) system, which includes four state universities, 12 community colleges and the on-line Charter Oak State College.

https://youtu.be/irCxZNZk9Rg

Questionable Patent Claims Push Small Businesses to Pay Rather Than Fight; Congress to Again Consider Reforms

The odyssey began with a letter.  The owner of an Old Lyme small business, providing employment services for people with disabilities, was told that by scanning documents into emails, she was violating a patent.  In fact, every scan meant a $1,000 fine.  Pay $75,000, she was told, or face legal action. She ignored the first letter, hoping it was junk mail.  When a second, “scarier, and more threatening” arrived, she contacted an attorney, who put her in touch with a patent attorney.

What was happening was a phenomenon described as patent trolling.  The New York Times has described patent trolls as “people who sue companies for infringement, often using patents of dubious value or questionable relevance, and then hold on like a terrier until they get license fees. In recent years, patent trolls — they prefer “patent assertion entities,” or P.A.E.’s — have gone from low-profile corporate migraine to mainstream scourge.”

Roberta Hurley, the small business owner in Connecticut, describes them as “creepy people,” intentionally frightening business owners with a “big scam.”  They depend on the unknowing to pay the outrageous demands, afraid of being taken to court.

The company making the demand could not be reached by phone, and the letter had nothing more than a Post Office box for an address.  But the tone was nonetheless daunting.

“If you’re scared, you don’t understand patent infringement, don’t have the funds to hire an attorney, which is true of many mom and pop businesses, it’s easier to write a check to stop them,” Hurley observed.

She couldn’t afford the $75,000 being demanded – “I would have had to close my doors” – and decided she would fight, and did.  “I wasn’t doing it,” she recalled.

It took time, effort and energy, and a bill from her attorney, but ultimately the demands stopped.  The entire process went on for nearly a year and a half, ending in 2013.  Along the way, she testified in Washington, went public to the news media, and told everyone she could what was happening.

Patent trolls may not have succeeded in this instance, but often do.  As The Atlantic pointed out in an article on the subject, “Given the cost, many defendants are willing to pay the troll to avoid a lawsuit even if the suit is not justified.”

In 2013, American courts saw six times as many patent lawsuits as in the 1980s, a Boston Globe op-ed by the authors of “Patent Failure” reported last fall.  “Over the past decade, there has been a 900 percent increase in the number of businesses facing patent litigation.”  They added that “recent research estimated that defendants spent at least $29 billion per year in out-of-pocket costs to defend or settle claims brought forth by patent trolls in 2011. Patent lawsuits by these entities drain an estimated $60 billion every year from the economy.”

Last month, a bipartisan group of 20 members of Congress reintroduced legislation aimed at reining in "patent trolls." A similar bill last year was approved by the House, but stalled in the Senate.  The legislation would express a sense of Congress that sending purposely evasive demand letters should be considered a fraudulent and deceptive practice, according to a published report in The Hill, a website that reports on Congress and the nation’s Capitol.

The Credit Union League of Connecticut is among the local and national consumer organizations urging approval of safeguards against patent trolls.  "Patent trolls often allege that the use of necessary everyday technology violates the patent holders' rights, state vague or hypothetical theories of infringement, often overstate or grossly reinterpret the patent in question, and make allegations of infringement of expired or previously licensed patents," the organization said in urging Congressional action.

The Connecticut Retail Merchant Association has also called for federal action, noting that “patent trolls are entities that threaten main street businesses with frivolous lawsuits over vaguely crafted or poorly worded patents. Usually, the patent troll wins a settlement because small businesses do not have the resources to fight it out in court. In fact, most trolls wouldn’t stand a chance to win and so they rely on scare tactics to extract a settlement, said Executive Director Tim Phelan in an op-ed published last year.  The National Retail Federation has pointed out that patent trolls "lose more than 90 percent of the cases that make it to trial. But the cost of defending companies against the claims is so high — the average case costs $2 million and can take 18 months — that many victims settle out of court. The cases cost legitimate businesses close to $30 billion a year in direct costs and $80 billion indirectly, amounting to $943 a year for the average household when passed on to consumers."

Authors Michael J. Meurer and James Bessen indicate, based on their research, that "there is no question that patent trolls cause immense harm. A recent survey of software startups found that nearly half reported “significant operational impacts” from patent troll lawsuits. These included a wholesale change of strategy or a shutdown of certain lines of business. Another survey found that roughly three of every four venture capitalists were adversely impacted by patent litigation."

Hurley, who has grown her Eastern Connecticut business (Southeastern Employment Services) from less than a handful of employees to 80 employees in just over a dozen years, says her advice to other small business owners is simple:  “don’t give them a penny.”  And she hopes that this will be the year that Congress approves patent reforms that will protect unsuspecting small business owners from “paying because they’re scared.”

FEMA to Upgrade Emergency System at WTIC-AM Tower As Station's License Renewal Remains Unresolved

As the license renewal application of WTIC-AM radio continues to languish at the Federal Communications Commission, nearly one year after the station’s broadcast license expired, another federal agency is proceeding with WTIC on a local project aimed at assuring the availability of broadcast communication in the event of an emergency. This week the Federal Emergency Management Agency (FEMA), part of the U.S. Department of Homeland Security, testified at the Avon Planning and Zoning Commission outlining a plan to upgrade the Primary Entry Point System (PEP) facility which is located on Avon Mountain at the site of the station's transmitter and operated in conjunction with WTIC. 

The facility is part of a nationwide network of about 70 such installations, which for the past 30 years have provided a “broadcast-based capability to communicate critical life-saving information to the public in times of extreme emergencies,” according to FEMA officials.  FEMA coordinates with local broadcast stations with the most far-reaching signals in their respective regions.  WTIC is the only PEP station in Connecticut.

Also this week, an official at the FCC indicated that the "enforcement hold" status of the station’s license renewal was "unchanged," and the station continues to operate until a decision is made, as is customary with delayed renewal applications. The WTIC-AM license renewal application has been on enforcement hold at the FCC since the license expiration date of April 1, 2014, as the agency’s Enforcement Bureau continues to consider “an alleged violation of FCC rules,” according to an FCC official. The renewal application was filed by the station almost 16 months ago, on November 27, 2013. Stations must file an application for license renewal) four months prior to the expiration date of the station’s license.

The facility at the WTIC broadcast tower and antenna in Avon would be the last in the country to be upgraded by FEMA.  After hearing a FEMA presentation and comments from local residents, the Avon Planning and Zoning Commission unanimously approved the plan and construction is slated to begin later this spring.

FEMA, noting that the PEP system “proved invaluable” to the New Orleans community in the aftermath of Hurricane Katrina, places back-up generators and diesel power at the transmitter sites of key commercial radio stations, to assure that they stay on the air to broadcast emergency information if other media is off-line due to power outages or other “extreme emergencies.”  Such was the case in New Orleans with WWL-AM, which, like WTIC-AM, is a 50,000 watt broadcast station.

Federal officials noted that “WTIC is the only original PEP station that has not been upgraded with long-term back-up components.  This leaves Connecticut and its local communities in a very vulnerable position when a major disaster strikes.”  The plan approved this week calls for installation of a new emergency back-up transmitter, two state-of-the-art generators and diesel fuel tank that would enable the station to transmit broadcast signals for longer than two months if necessary.  Nationally, FEMA continues to upgrade and expand the PEP system. The agency's website indicates that direct coverage of the nation’s population will expand from approximately 67 percent in 2009 to over 90 percent through 77 PEP stations by the end of this year.

WTIC-AM, which is licensed to Hartford but operates from studios in Farmington and has its broadcast tower on Avon Mountain, can continue broadcasting under the license that expired  on April 1, 2014, until the FCC acts on its renewal application. Until the enforcement hold is lifted the FCC Media Bureau cannot proceed with a decision on whether or not to renew the station’s broadcast license.  The Enforcement Bureau must first determine whether or not a violation of FCC rules has occurred.  If the allegation is substantiated, the agency has a range of options, such as warning that the violation not be repeated or imposing a monetary fine on the station, officials said.

Precisely what the allegation under review involves is not made known to the public, officials reiterated this week.  That information is only made available to the licensee or their attorney, FCC official have said. The agency can, and often does, communicate with the station as part of their review process.  WTIC has declined to comment on the ongoing review process at the FCC.

Hartford Attorney Ken Krayeske filed an informal objection last fall to WTIC’s broadcast license renewal, alleging that the station “demonstrated serious malfeasance” and “helped conceal violations of federal law,” related to former talk show host John G. Rowland’s use of his radio program to promote the Congressional campaign of Lisa Wilson-Foley. Krayeske had filed a previous complaint in 2012 that did not result in FCC action against the station.

When the license renewal application does reach the agency’s Media Bureau, they will consider “how the allegation of violation was resolved,” as well as a range of other factors in deciding whether or not to renew the station’s license.  The other, more routine, factors include whether any other objections have been raised about the station, whether the station has been adequately serving the public in their area of license, their history of compliance with FCC regulations, and their overall performance.  License renewals for radio stations are issued by the FCC for a period of eight years.

Connecticut Medal of Science Nomination Deadline Approaches

The Connecticut Medal of Science is Connecticut’s highest honor for scientific achievement in fields crucial to Connecticut's economic competitiveness and social-well-being. Nominations for the 2015 awards, to be announced in May, are due by Friday, March 13. The Medal recognizes an individual who has made extraordinary contributions to the advancement of science in Connecticut. For this competition, science spans the physical and biological disciplines as well as mathematics, engineering and the social and behavioral sciences.

Modeled after the National Medal of Science, the award is bestowed in alternate years with the Connecticut Medal of Technology.  (Science in odd-numbered years; Technology in even-numbered years.) The most recent Medal of Science recipient, in 2013, was Thomas A. Steitz, Sterling Professor of Molecular Biophysics and Biochemistry, Professor of Chemistry, at Yale University and Howard Hughes Medical Institute Investigator.

Unlike their federal counterparts, the state medals are designed to recognize individuals, not teams or entire corporations. The work the awards honor must also have a "clear association with Connecticut," meaning it must have been performed in the state, at least in its final stages, or in a company or institution closely affiliated with the state. Profiles of all Medal recipients are featured permanently in the Hall of Fame, located at the Connecticut Science Center in Hartford.

Selection of the Medalist is conducted by the Connecticut Academy of Science and Engineering, using the following criteria:

1. Total impact of the candidate’s work on the current state of physical, biological, mathematical, engineering, or social and behavioral sciences. (primary criterion)
2. Achievements of an unusually significant nature and their potential effects on the development of scientific thought.
3. Distinguished service in the general advancement of science and engineering accompanied by substantial contributions to the content of science.
4. Recognition by peers within the scientific community.
5. Contributions to innovation and industry.
6. Influence on education through publications, students, etc.
7. A significant portion of the candidate’s work must have been performed in, or be associated with, an institution/organization/business located in Connecticut at least in its more mature and developed stage and during which time the candidate was a citizen of the U.S. or permanent resident who had applied for citizenship.

Nominations include a narrative statement by the individual making the nomination and three statements of support “from persons familiar with the technological aspects of the candidate's work.”

To date, Connecticut Medalists are:

Medal of Science

• Frederick M. Richards, Yale University
• Ronald R. Coifman, Yale University
• William C. Stwalley, University of Connecticut
• Michael P. Snyder, Yale University
• Robert R. Birge, University of Connecticut
• Steven L. Suib, University of Connecticut
• Thomas A. Steitz, Yale University

Medal of Technology

• Joseph Gerber, Gerber Scientific
• Charles H. Kaman, Kaman Corporation
• Anthony J. DeMaria, DEOS, LLC
• Gene Banucci, ATMI, Inc.
• Tso-Ping Ma, Yale University
• Jonathan M. Rothberg, Ion Forrent
• Yaakov Bar-Shalom, University of Connecticut
• Frederick J. Leonberger, EOvation Advisors

The 2015 Medal of Science will be presented at the May 19, 2015 Annual Dinner of the Connecticut Academy of Science and Engineering. Additional information is available from Richard Strauss, Executive Director of the Connecticut Academy of Science and Engineering, at 860-571-7135.

Simsbury, Trumbull Are Best Communities for Young Families, Analysis Shows

Simsbury, Trumbull, Kensington, Glastonbury and Orange are the best communities for young families in Connecticut, according to a new analysis by a national financial website. “While parts of Connecticut have some of the highest housing costs in the country,” the website NerdWallet noted, their review of local data “found the communities in the Constitution State that offer young families the best combination of solid schools, great neighbors and affordability.”

The analysis highlighted three main takeaways:

• Small towns are a good bet. Eight of the top 10 best cities for young families in Connecticut have populations of less than 30,000 residents.
• Schools add value. Even though eight of the top 10 cities have median home prices that are above the state median, the excellent schools help families get a solid return on their housing investment.
• Greater Hartford is a winner. Six of the 10 cities are near Hartford, the state’s capital.

The next five communities, following Orange, were Wethersfield, Newington, Winsted, Portland, and North Haven.  West Hartford ranked #11, followed by Terryville (Southington), Bethel, Pawcatuck, Oakville (Watertown) and Shelton.

Data used in the analysis were from the 2013 U.S. Census Bureau’s American Community Survey.  The factors that were considered include:

• Home affordability – the survey looked at median home value and selected monthly homeowner costs to prioritize affordable communities.
• Prosperity and growth - reviewing current and past family incomes, NerdWallet calculated the income of residents, as well as the projected long-term growth of each city.
• Quality of education - the ratings at GreatSchools.org were used to determine the best schools.
• Family friendliness - the percentage of families with school-age children and the poverty rate for young children. That measure was designed to help determine if an area is not only affordable for families, but if it is also a healthy one for children, NerdWallet explained.

NerdWallet analyzed the data for 47 places in Connecticut — cities, towns and census-designated places (such as Oakville and Terryville). Only places with over 5,000 residents were analyzed.  The data was weighted 30 percent each for home affordability and family friendliness, 20 percent each for prosperity and growth, and quality of education.

Simsbury topped the list “because it offers young families an outstanding combination of affordability and quality schools” and Trumbull earned the runner-up slot although it has “the most expensive housing in the top 10” because “young families get top value for their housing dollar.”

The website also pointed out that Wethersfield “has done exceptionally well economically in recent years: median family incomes have jumped 89% since 1999, the largest gain in the top 10” and  Glastonbury residents “experienced an 85% jump in median income since 1999.”

Last year’s top 10 included Westport, Wallingford, Milford, Darien, and West Hartford, which all dropped out of the top 10.  New to the top 10 this year were Winsted, Portland, Glastonbury, Kensington, and Simsbury.  The population cut-off for last year’s list was 10,000; this year it was lowered to 5,000.  Trumbull remained at #2 for the second consecutive year, while Orange slipped from #1 to #5. Simsbury, this year’s best town for young families, did not reach the top 10 a year ago, largely due to its population being under 10,000.

3 Cities, 3 Towns from CT Take Up National Challenge on Pedestrian, Bicyclist Safety to Launch Thursday

Six Connecticut towns and cities are among the first 150 in the nation to respond to a challenge issued by U.S. Secretary of Transportation (USDOT) Anthony Foxx aimed at promoting bicyclist and pedestrian safety.  The year-long nationwide initiative will officially kick-off this Thursday. The chief elected officials of the cities of Hartford, Stamford, and Bridgeport, and the towns of Glastonbury, Simsbury, and South Windsor have signed on to the Mayor’s Challenge, announced earlier this year at the annual meeting of the U.S. Conference of Mayors.  The Mayors’ Challenge for Safer People and Safer Streets is a call to action by Secretary Foxx for mayors and local elected officials  to take significant action to improve safety for bicycle riders and pedestrians of all ages and abilities over the next year.

The challenge is based on the 2010 USDOT Policy Statement on Bicycle and Pedestrian Accommodation to incorporate safe and convenient walking and bicycling facilities into transportation projects. In the policy statements, USDOT recognizes the many benefits walking and bicycling provide — including health, safety, environmental, transportation, and quality of life.

The challenge calls on Mayors, First Selectmen and other chief elected officials to:

• Issue a public statement about the importance of bicycle and pedestrian safety
• Form a local action team to advance safety and accessibility goals
• Take local action through seven Challenge activities (listed below)

In Connecticut, the advocacy organization Bike Walk Connecticut is urging Connecticut's chief elected officials to participate in the challenge and engage their residents in carrying out the initiative’s objectives. They applauded Foxx, a former Mayor of Charlotte, N.C., for making “bicycle and pedestrian safety is his signature issue as the head of USDOT.”

The challenge activities, as outlined by USDOT, include:

• Take a Complete Streets approach
• Identify and address barriers to make streets safe and convenient for all road users, including people of all ages and abilities and those using assistive mobility devices
• Gather and track biking and walking data
• Use designs that are appropriate to the context of the street and its uses
• Take advantage of opportunities to create and complete ped-bike networks through maintenance
• Improve walking and biking safety laws and regulations
• Educate and enforce proper road use behavior by all

A total of 154 cities nationwide have signed on as of March 6, with the official kick-off later this week in Washington, D.C.  Additional municipalities in Connecticut and across the country are expected to add their names to the list of participating cities.  USDOT has invited Mayors' Challenge participants to attend the Mayors' Challenge Summit kick-off event at USDOT’s Headquarters’ office in the nation's capital on Thursday, March 12. The Summit will bring together participating cities to network and learn more about the Challenge activities, and USDOT staff members will share the resources and tools available to help cities with Challenge activities.

Federal officials note that the lack of systematic data collection related to walking and bicycling transportation, such as count data, travel survey data, and injury data, creates challenges for improving non-motorized transportation networks and safety. Communities that routinely collect walking and biking data, they point out, are better positioned to track trends and prioritize investments.

In advocating a “complete streets” approach, USDOT emphasizes that complete streets “make it safe and convenient for people of all ages and abilities to reach their destination whether by car, train, bike, or foot” and they call for “a policy commitment to prioritize and integrate all road users into every transportation project.”

Bike Walk Connecticut has reported that there were 49 bicycle or pedestrian fatalities in Connecticut in 2012, the most recent data available.  There were an additional 1,226 injuries to bicyclists or pedestrians.  In total, from 2006 to 2012, there were more than 10,000 injuries and nearly 300 fatalities from crashes involving pedestrians or bicyclists, according to the organization, based on federal and state data.

New “Digital Cookie” Program Brings On-Line Sales to Girl Scouts of Connecticut

Another time-honored tradition has transitioned to the digital age.  Girl Scouts are now selling their celebrated line of cookies on-line.  Connecticut is one of the Girl Scout Councils across the country to be participating in the inaugural year of the Digital Cookie program – and the response has been better than expected. The new Digital Cookie program strengthens, expands, and enhances the well-known and highly regarded Girl Scout Cookie Program by “combining the values and lessons of door-to-door and booth sales with crucial 21st century business and entrepreneurial skills,” official say, “continuing Girl Scouts’ long tradition of preparing today’s girls to be the female leaders of tomorrow.”

Here’s how it works:  Prospective cookie customers are able to purchase cookies on-line, after having been contacted by a Girl Scout. (Or you can tell a Girl Scout you know that you're interested in becoming a Digital Cookie customer.) Each scout has their own personal page thru which the cookies are ordered, so the scout will receive credit for the sale, just as when the transaction is completed in-person.  Officials say that some girls will market their online cookie business by inviting customers to visit their personalized cookie websites through a link sent via email.  Others will take in-person orders using a unique mobile app designed specifically for Girl Scouts.

“We were excited here in Connecticut to give our Girl Scouts the opportunity to participate in a pilot of Digital Cookie, a first-of-its-kind web platform that lets girls sell cookies from their own protected, personalized websites,” said Tiffany Ventura Thiele, Communications & PR Manager for Girl Scouts of Connecticut.

“Digital Cookie represents the next evolution of the iconic Girl Scout Cookie Program, adding a digital layer that broadens and strengthens the Five Skills girl learn, while introducing modern elements like website customization and e-commerce,” Thiele explained.

Those skills haven’t changed:  goal-setting, decision-making, money management, people skills and business ethics.  With the new on-line system, customers will be able to pay by credit card and have cookies either delivered by the Girl Scout or shipped.

Sales are running strong thus far.  To date, in Connecticut, nearly 38,000 packages have been sold on-line, with more than 2,500 girls participating.  In fact, orders placed in Connecticut have been shipped to 49 states and the District of Columbia, as well as to military personnel.  (If you’re wondering, nearly two million boxes of cookies were delivered this past weekend, based on initial orders taken by Girl Scouts in Connecticut.)

Nationwide, a majority of the 112 local Girl Scout councils are participating in the Digital Cookie program for the inaugural 2014–2015 cookie season, which began in January.  Additional councils expected to be on board by the end of the year, using an updated version of the program, which will be tweaked based on the feedback received from participating Councils.

Officials stress that “because 100 percent of the net revenue raised through the Girl Scout Cookie Program stays with local councils, when you purchase Girl Scout Cookies you’re not only getting a delicious treat — you’re also making an important investment in your community.”

There are two new cookie options locally this year:  Rah-Rah Raisins, an oatmeal cookie, and Toffee-tastics, a gluten-free butter cookie with toffee pieces.

An informal poll on the national Girl Scouts website asks visitors to vote for their favorite Girl Scout cookie.  The top three thus far:  Samoas (30%), Thin Mints (27%), and Samoas (13%).

If you’ve yet to place an order, there’s still time if you have a sweet tooth for Samoas, Thin Mints, Tagalongs, Do-Si-Dos, Savannah Smiles, Trefolis or the two new offerings.  The Girl Scouts of Connecticut’s cookie program will continue with booth sales through the month of March, so there’s still a chance to fill the cookie jar.

Fearful of Social Ridicule? Depends on Your Personality, Researchers Find

Your overall personality temperament may determine how reticent or fearful you are in approaching and handling new situations, academic researchers have found.  Individuals who are more likely to fear being judged harshly by others are also likely to avoid, rather than be open to, new experiences “because of increased risk of behaving in ways that produce social ridicule.” Of the five overarching personality temperaments - Extraversion, Agreeableness, Conscientiousness, Emotional Stability and Openness – two personality traits demonstrated particular sensitivity to reticence and “fear of negative evaluation,” according to the researchers at the University of Hartford and two other institutions who collaborated in the study.

The researchers explored the interrelationships of reticence and fear of negative evaluation, or negative social judgment, finding that three of the personality dimensions—Openness, Conscientiousness and Agreeableness—were not significant predictors of either reticence or fear of negative evaluation.

Highly reticent individuals appear to give significant power to others to “define their social selves,” as indicated by the direct impact of fear of negative evaluation on reticence.

Extraversion was the only personality trait that directly and negatively predicted reticence, while Emotional Stability (i.e., Neuroticism) was a direct predictor of fear of negative evaluation. The research also confirmed a strong relationship between reticence and fear of negative evaluation.

Thus, if you understand your personality type, you may better understand your likelihood to respond with reticence, hesitance or fear when confronted with a new situation.

The “dysfunctional thinking” and anxiety due to emotional instability or the lack of openness to new experience contributes to fear of negative evaluation, the study concluded. It is this fear of potential negative social judgment that is at the heart of reticence, in which individuals believe that ‘‘it is better to remain silent than to risk appearing foolish.’’

The study, conducted by communication professor Lynne Kelly of the University of Hartford, Michael Hazel of Gonzaga University and James Keaten of the University of Northern Colorado, was published recently in the journal Communication Research Reports.

To reduce reticence, what is needed in addition to communication skills training, is a focus on helping the individual develop more positive thoughts to counteract those that produce fear of negative evaluation, the researchers indicated.

“Rather than thinking ‘I might say or do the wrong thing,’ the person can be trained to think ‘I am well prepared for this meeting and have some good ideas to share,’” Kelly suggested. By helping people become better communicators and training them to replace anxiety-provoking thoughts with realistic yet confidence-boosting thoughts, they can begin to speak up in more situations.

The so-called “big five personality traits” as generally described in psychology and used in the study are:

• Extroversion – Abundant energy, and the tendency to seek engagement and the company of others.
• Agreeableness - A tendency to be compassionate and cooperative rather than suspicious and antagonistic towards others.
• Conscientiousness - A tendency to show self-discipline, act dutifully, and aim for achievement.
• Emotional Stability (neuroticism) - A tendency to easily experience unpleasant emotions such as anxiety, anger, or vulnerability.
• Openness to Experience - A person who is high in openness to experience is creative, imaginative flexible, curious and adventurous.

Study participants were undergraduate students enrolled in communication or psychology courses at a private, moderately sized western university and local community college. The survey took about 15 minutes for students to complete.

Of the 336 students who responded, 40 percent were female. Ages ranged from 17 to 56, although 81 percent of the respondents were between 18 and 21 years old.  The demographic breakdown was 70 percent reported European American, 7 percent Asian Americans, 6 percent Hispanics, and 3 percent African Americans.  The researchers suggest that additional research would be warranted, with the full-length version of the “Big Five” personality measures, and a more diverse population demographic.

Connecticut Ranks #18 in Payroll to Population Ratio, Analysis Shows

Connecticut ranks #18 in the nation in a measure of Payroll to Population (P2P), based on an analysis of the nation’s 50 states by the Gallup organization. The P2P metric tracks the percentage of the adult population aged 18 and older who are employed full-time for an employer, for at least 30 hours per week.  The rankings cover calendar year 2014. North Dakota (54 percent) had the nation’s highest Payroll to Population employment rate. A cluster of states in the northern Great Plains and Rocky Mountain regions -- including Nebraska, Minnesota, Kansas, Wyoming, Utah, Colorado and Iowa -- all made the top 10 on this measure, according to Gallup. West Virginia (35.6 percent) had the lowest P2P rate of all the states for the second consecutive year.

Connecticut was tied with Vermont with a P2P level of 44.3 percent.  Among the New England states, Connecticut and Vermont ranked in the middle, with New Hampshire ranked at #10, Massachusetts at #15, Maine at #22, and Rhode Island at #34.

The year-long results are based on Gallup daily tracking interviews throughout 2014 with 353,736 U.S. adults. The payroll-employed data does not include adults who are self-employed, work fewer than 30 hours per week, who are unemployed, or are out of the workforce.

The differences in P2P rates across states may reflect several factors, Gallup points out, including the overall employment situation and the population's demographic composition. States with large older and retired populations, for example, can be expected to have a lower percentage of adults working full time. Connecticut has the 7th oldest population in the nation, which may influence the state’s overall ranking. The two states with the lowest P2P in 2014, West Virginia and Florida, have two of the largest proportions of residents aged 65 and older, at 17.3 percent and 16.9 percent, respectively.

Regardless of the underlying reason, Gallup indicates that the P2P rate provides “a good reflection of a state's economic vitality.”  Gallup also notes that P2P shows a stronger relationship than do unemployment rates with other important economic indicators, such as state GDP per capita.

In the overall rankings, Washington, D.C., had the highest P2P rate of any area in the country, at 56.4 percent, but Gallup points out that “it is unique in being the only entirely urban region in the survey, heavily dominated by the presence of the federal government, and with one of the lowest percentages of residents aged 65 and older (12.3 percent).”