Fairfield County Business Journal articles from November 1992

Fairfield County Business Journal archives from November 1992

Life Re launches $101 million IPO. (initial public offering)
November 9, 1992... STAMFORD -- Life Re Corp., a reinsurer of ordinary life, group life and health and special risk reinsurance, has launched an initial public offering of 10.6 million share of common stock at a price to the public of $22 a share. After deducting...

Stavola-Manson Electrical victim of a massive fraud, former co-owner contends. (Stavola-Manson Electrical Construction Company Inc.'s David Manson)
November 9, 1992... BRIDGEPORT -- The co-owner of a failed Fairfield County electrical contractor has filed suit in federal court, charging that management looted hundreds of thousands of dollars from the company without his knowledge, and that attorneys appointed...

Terex confronts Business Week over news story.
November 9, 1992... WESTPORT -- Terex Corp., the subject of an Oct. 12 Business Week article that described the company as a "house of cards," is demanding that the magazine retract the allegations and issue a public apology to the company and its shareholders....

Bottler slakes thirst and thinks 'Earth first.' (use of recycled bottles by Stratford Bottling Works) (Company Profile)
November 9, 1992... STRATFORD -- Consumers looking to get back to the basics can purchase refillable bottled beverages and at the same time cut down on environmental waste. According to Bob Burns, plant manager at Stratford Bottling Works, the popularity of...

Rating services reviewing Xerox plans for Crum and Forster insurance group. (Xerox Financial Services Inc.'s restructuring of Crum and Forster Inc. prompts reevaluation of rating by A.M. Best and Moody's Investor Services)(includes related article)
November 9, 1992... STAMFORD -- Xerox Financial Services' efforts to restructure the operations of its troubled Crum and Forster Inc. insurance group have prompted A.M. Best and Moody's Investor Services to place the property and casualty insurer under review....

Norwalk brothers find the right recipe for making 'bread.' (Spinelli Bros.) (Focus: Retail Outlook) (Company Profile)
November 9, 1992... NORWALK -- Carmine and Leo Spinelli have been raising some dough for an expansion plan they've cooked up for their bakery and cafe. The brothers also have brought a little bit of Italy to Connecticut. All of Spinelli's baking is done on the...

Metro-North envisions fare hikes, service cuts if capital plan fails. (Metro-North Commuter Railroad)
November 9, 1992... WHITE PLAINS, N.Y. -- Metro-North Commuter Railroad wants the New York State Legislature to meet in special session to consider the railroad's proposed five-year $887 million capital investment program. The 1992-1996 program is designed to...

Defiant Fairfield property sold to a new developer. (Fairfield, Connecticut; Toll Brothers Inc.)
November 16, 1992... FAIRFIELD -- Toll Bros. Inc. of Pennsylvania has paid $1.38 million for a 56-acre parcel in Fairfield that has defied all previous development attempts. Daniel Shepro, an attorney with the Bridgeport law firm of Willinger, Shepro, Tower &...

Workers' comp rates heading up: Hartford appears ready to help ease the burden. (workers' compensation; Hartford, Connecticut)
November 16, 1992... HARTFORD -- Businesses throughout Connecticut are looking for relief from the high cost of workers' compensation insurance. Instead, they'll be getting double-digit rate hikes as a Christmas gift if the state insurance department approves...

Caution and hope theme of county business leaders. (Fairfield County, Connecticut)
November 16, 1992... As 1992 draws to a close, Fairfield County business leaders seem confident that the worst is behind them and that the birth of a recovery is at hand, although the process may be painfully slow. Connecticut has experienced an 11 percent job loss...

Soda-serving 'robots' ready to go. (Genesis Automation Inc.'s Automated Beverage System)
November 16, 1992... SHELTON -- Seeking to make "fast food" even faster, a Shelton company has created a beverage-serving robot that it hopes will turn drinks into dollars. The company, Genesis Automation, already has made a name for itself this year by being...

Bridgeport harbor bubbling with life, thanks to Santa. (Santa Fuel Inc.'s Air Guard Petroleum System)
November 16, 1992... BRIDGEPORT -- Saving time and money was the goal, but a new device developed for a Bridgeport fuel oil business may be breathing new life into the waters along the company's dockside terminal. "This has turned out to be an outstanding...

One-person ad shops provide effective alternative for getting the message out. (advertising consultants)
November 16, 1992... These are very good times for businesses that want help with marketing communications, but don't want to pay a lot for it. Good people are available throughout the Westchester and Fairfield County area, many with specialized experience not often...

Auguste-Thouard concentrates on picking gems from a rockpile. (Focus) (Company Profile)
November 16, 1992... SHELTON -- In the 1980s, developers created buildings, but all too often failed to create wealth. In the 1990s, the developers who will succeed must have an eye for value among the wreckage of the Fairfield County real estate market, and the...

Reader's Digest hid frauds, ex-auditor claims. (The Reader's Digest Association Inc.)
November 23, 1992... WHITE PLAINS, N.Y. -- The former chief internal auditor for The Reader's Digest Association has filed a $13.4 million breach of contract suit in U.S. District Court here, claiming he was forced to leave the international publishing giant after...

'Family Fun Zone' will provide outlet for area youngsters. (Norwalk, Connecticut)
November 23, 1992... NORWALK -- As a divorced father of four, Dennis Czarneski says his new business responds to a pressing need in the county. "My children were always complaining there is no place to go around here," Czarneski said. "I could not find anything...

State comptroller cites need for reform. (Connecticut state comptroller William E. Curry Jr. talks about bookkeeping practices)
November 23, 1992... WESTPORT -- Gov. Lowell Weicker Jr. has made himself the front man for a national advertising campaign in which he says "To attract business, you've got to think like one." State Comptroller William E. Curry Jr. wants the governor to do more...

Showdown looms over casino plan. (Bridgeport, Connecticut)
November 23, 1992... BRIDGEPORT -- Casino mogul Steve Wynn has laid his strongest card on the table in the debate over legalized gaming in Connecticut: a proposed casino-entertainment complex in Bridgeport that promises thousands of jobs and millions of dollars in...

Creativity under glass in White Plains. (advertising and communications company Everett)
November 23, 1992... WHITE PLAINS, N.Y. -- On the Barker Avenue side of the old White Plains Mall, behind a large loading dock with an adjoining glass entryway, there's a marketing communications resource so complete it's hard to describe. The entryway sign says...

FDIC adds D'Addario property to its hit list. (Federal Deposit and Insurance Corp.; real estate developer David D'Addario)
November 30, 1992... BRIDGEPORT -- The sweeping net cast by federal regulators has caught another big fish as the government presses its campaign to close the books on failed local banks. The Federal Deposit Insurance Corp., acting as receiver for Mechanics &...

ERC powers up for a field test of unique fuel cells. (Energy Research Corp.)
November 30, 1992... DANBURY -- If things work out as planned, Energy Research Corp. is about to become an "overnight success" in the commercial power plant industry. Actually, it's more like 8,395 "overnights," or 23 years since company founder Dr. Bernard S....

Polystar settles on Norwalk - for now. (Polystar Packaging; Norwalk, Connecticut)
November 30, 1992... NORWALK -- A Norwalk manufacturer that contemplated moving to Nevada has expanded its operations locally and will hire more than 30 new workers in the next few year as it steps up production of a proprietary lid product. While Polystar...

Battle rages over Centel-Sprint merger. (Centel Corp.; Sprint Corp.)
November 30, 1992... A Greenwich-based investment advisory firm is leading a proxy fight against the proposed merger of Centel Corp. and Sprint Corp. The deal, if approved, would create a $14 billion telecommunication giant with annual revenues of $10 billion....

Wellness programs at work: wise employers can cut costs by keeping their workers healthy. (wellness programs of different firms) (Focus: Healthcare/Finance) (Panel Discussion)
November 30, 1992... For businesses considering establishing a corporate wellness program for their employees, there is no better source of information on the process, and the benefits, than those who are in charge of such programs. Last month, the Business...