Fairfield County Business Journal articles from July 1992

Fairfield County Business Journal archives from July 1992

Victims of corporate fraud increasingly target auditors: major accounting firms spend millions fighting suits.
July 6, 1992... The nation's largest accounting firms have become an attractive target for the victims of corporate chicanery. From the federal government and bamboozled lenders, to irate investors and beguiled buy-out artists, the Big Six firms and their lesser...

Lowly garbage trucks going 'high-tech.' (Wray Tech Instruments Inc.'s mobile scale system for refuse collection vehicles) (Company Profile)
July 6, 1992... There are about 150,000 refuse trucks and a million forklifts in the United States. At first glance, industrial vehicles like these seem an unlikely candidate for high-tech computerization. But to Wray-Tech Instruments Inc. of Stratford, each...

Entrepreneur of the Year winners honored. (1992 Southern New England Entrepreneur of the Year)
July 6, 1992... Entrepreneurs were lauded not only for their individual achievements but also for the asset they represent to American business at the 1992 Southern New England Entrepreneur of the Year awards June 25. Nine winners out of 41 finalists were...

From a simple start, Entrepreneurial Women's Network branches out. (association of businesswomen in Connecticut)
July 6, 1992... Ten years ago, a group of five women, all sole business proprietors, got together and started talking about informally networking. As time passed, the group became slightly more formal and other area businesswomen became interested. The group...

Ousted executive sues William Pitt over termination. (Neil Cunningham; William Pitt Real Estate)
July 13, 1992... The former director of the commercial brokerage division of William Pitt Inc. is suing the company, claiming in a federal court action that he was wrongly terminated after just one year of a four-year employment contract. Neil Cunningham...

Miljac seeks $35 million in trade dispute. (Miljac Inc.)
July 13, 1992... Chemical firm accuses Cyanamid and two others of anti-trust violations New Canaan chemical-marketer Miljac Inc. has charged medical giant American Cyanamid and two other companies with unfair trade practices in a $35 million lawsuit. The...

E magazine thrives in a harsh environment.
July 13, 1992... For women, there's "W" magazine; for men, there's "M." So it stands to reason that a magazine about the environment is called "E." What better letter, asks E editor and publisher Doug Moss. Not only does it mean environment, he said, but also...

State backs Fleet's $200 million loan offer. (Fleet Bank N.A.)
July 13, 1992... Fleet Bank N.A., has been named the first preferred lender for the Connecticut Development Authority (CDA), and has committed at least $200 million in special loan funds. "This state-private bank partnership is a first-of-its-kind to make...

Many employers find flexible benefit plans can reduce health care costs.
July 13, 1992... The number of employers who use flexible programs primarily to contain health care benefit costs continued to grow in 1991 -- and a majority of employers reported their flexible programs resulted in lower health plan costs, a new study finds....

Pitney Bowes' new mailing systems could generate $300 million in sales. (Pitney Bowes Inc. Mailing Systems Division)
July 20, 1992... STAMFORD -- Pitney Bowes, in what it called the "most important product introduction" in the Stamford company's history, has unveiled new mailing system products that are expected to cement its dominant position in the postal machine market....

Ousted exec moves to halt initial public offering by EIS. (Electronic Information Systems Inc.)
July 20, 1992... Electronic Info Systems accused of fraud, SEC violations STAMFORD -- A lawsuit filed in federal court by a former executive of Electronic Information Systems Inc. threatens to disrupt the company's initial public stock offering. Samuel J....

FDIC puts $7.5 million price tag on 4.8 acres in downtown Stamford. (Stamford, Connecticut, Federal Deposit Insurance Corp.)
July 20, 1992... The Federal Deposit Insurance Corp. has hung a $7.5 million "for sale" sign on the largest parcel of vacant land in downtown Stamford, attracting interest from the University of Connecticut and several other potential buyers. Recoll...

'Third way' could restore American competitiveness.
July 20, 1992... STAMFORD -- America risks falling behind international competitors unless there is a "partnership" between government and business, according to U.S. Senator Joseph I. Lieberman, D-Conn. "We've got to find a 'third way,'" Lieberman said,...

Love of music and twist of fate launches EagleVision in Stamford. (Stamford, Connecticut, EagleVision Inc.) (Company Profile)
July 20, 1992... Ten years ago, Michael Macari Jr. was the lead singer for a classic rock band hovering on the brink of success. After touring the Northeast, the band built a reputation that drew serious consideration from record companies. They found...

Stamford region shines in this tale of two commercial office markets. (Stamford, Connecticut)
July 20, 1992... A mid-term report on the commercial office market in Fairfield and Westchester presents a tale of two cities: Stamford is on the rise, while White Plains, which once boasted the lowest vacancy rate in the nation, is swamped with space. The...

Stamford manufacturer fights DEP shutdown. (Polymer Resources Ltd., Department of Environmental Protection)
July 27, 1992... Polymer Resources denies plant causing neighbors' illnesses STAMFORD -- Polymer Resources Ltd., the Stamford plastics manufacturer, won the right to keep open, for now, a Farmington plant which neighbors say is making them sick. In a...

Private sector challenges Clinton to produce. (Bill Clinton)
July 27, 1992... NEW YORK -- On the floor of Madison Square Garden, a delegate to the Democratic Convention turned to his companion and said giddily, "We're going to win this time, can you feel it?" That was the mood July 15, when Democrats nominated Gov. Bill...

Upscale retail chains help Westport to weather stormy economic times. (Westport, Connecticut)
July 27, 1992... WESTPORT -- There aren't many industries or locales that can boast of being "recession proof." One area that comes close to staking such a claim is Westport's downtown Main Street retail district, known as the "Golden Half Mile." Westport's...

'Country Music' magazine discovers that down-home feeling in Westport. (Westport, Connecticut)
July 27, 1992... When many Northeasterners think of country music, what comes to mind generally involves pickup trucks with gun racks, moonshine, "Urban Cowboy," or "Hee-Haw." Exposure to country has come from rather inaccurate presentations of it in movies and...

Shareholder of Canada appliance maker sues General Electric. (General Electric Co., GSW Inc.)
July 27, 1992... TORONTO -- GSW Inc., a minority shareholder of Camco Inc., Canada's largest manufacturer and distributor of major home appliances, has filed suit in the Ontario Court of Justice under the oppression provisions of the Canada Business Corporations...

AT&T Microelectronics and GO Corp. target personal communicator market.
July 27, 1992... AT&T Microelectronics and GO Corp. have formed a relationship to jointly develop products that will be the foundation for an open platform to address the emerging personal communicator market. The two companies have been working closely to...

Bartering industry seems immune to vagaries of a jittery economy.
July 27, 1992... "Rosy" is the word used to describe the future of the bartering industry by Michael Hurworth, president of Exchange Enterprises Ltd. in South Norwalk, Conn. His company, which has about 600 clients in Fairfield County, has prospered in the...

Franchising supplies building blocks for a new breed of entrepreneurs.
July 27, 1992... Franchised businesses often provide a safer route for fledgling small-company owners apprehensive about pursuing the precarious entrepreneurial path. Perhaps that's why franchised business are forecast to account for more than 50 percent of...

Start-ups can smooth cash-flow crunch by using Barter Network.
July 27, 1992... What would the owner of a jewelry store who needs a $5,000 computer rather do: write a check for $5,000, or trade $5,000 worth of jewelry? Raymond Bastarache, who is president of Barter Network in Milford, knows what he'd do. "Economically,...