Fairfield County Business Journal articles from September 1992

Fairfield County Business Journal archives from September 1992

Lenz takes over Amity Bank; lawsuit unresolved. (Westport, Connecticut investor Randolph W. Lenz)
September 7, 1992... Motion filed by two investors fails to block $1-a-share deal WOODBRIDGE -- Fresh capital and a new management team are in place at Amity Bank as Westport investor Randolph W. Lenz attempts to turn around the troubled lender, which reported a...

Kugler denies Union Trust on FDIC's hit-list; refutes media reports, citing bank's strong capital position. (Northeast Bancorp Inc. Chairman and CEO Frank J. Kugler, parent company of Union Trust/Bancorp; Federal Deposit Insurance Corp.)
September 7, 1992... STAMFORD -- It's Union Trust's turn to face the music. Staid, conservative New England banking, driven by the Yankee traditions of thrift and safe investments, long ago gave way to the speculative lending that overbuilt Connecticut and the rest...

Workers' comp reforms crucial to state revival: excessive awards, flagrant abuses cripple private sector. (Connecticut)
September 7, 1992... The weather forecast for the business climate in Connecticut is improving. The clouds are breaking up and some sunlight is peeking through as an aggressive state financing program spreads new capital to businesses. But dark clouds linger on...

Specialized resource helps marketers energize and control their field forces. (Bulk Mailing Service Inc.) (Company Profile)
September 7, 1992... MOUNT VERNON, N.Y. -- If you have a large sales force, use specialized distributors, sell through dealers or, especially, if you depend on any combination of these "marketing partners," there's one kind of communication resource you simply can't...

Bank of Boston agrees to acquire operations of Society for Savings. (Bank of Boston Corp.; Society for Savings Bancorp Inc.) (Focus: Banking/Finance)
September 7, 1992... HARTFORD -- Bank of Boston Corp. has agreed to acquire Society for Savings Bancorp Inc., a $2.7 billion financial services company based here. The agreement, which was approved by the boards of directors of both companies and signed Aug. 31, is...

Manufacturer accuses Blumenthal of 'politics': Stamford plastic maker's Farmington plant a threat to health, state contends. (Connecticut state Attorney General Richard A. Blumenthal and Polymer Resources Ltd.)
September 14, 1992... STAMFORD -- The owner of a Stamford plastics company and the state attorney general of Connecticut apparently agree on just one thing: something smells. They disagree, however, on the source -- is that odor from the company's Farmington plant...

State makes strong bid for Transamerica: Greenwich American Center a possible site. (Transamerica Leasing Inc. plans to move to Connecticut)
September 14, 1992... Officials from Transamerica Leasing Inc. have met with representatives of the state of Connecticut and are mulling an offer by the Nutmeg State to lure the $1.25 billion White Plains, N.Y., firm to offices in Greenwich, the Business Journal has...

RESCO eyes $90 million expansion of Bridgeport garbage-burning plant. (Connecticut)
September 14, 1992... BRIDGEPORT -- Wheelabrator Environmental Systems has won first-term Bridgeport Mayor Joseph Ganim's support for a proposal to expand by one-third the company's trash incineration operations in Bridgeport, and add a treated-sludge recycling...

Warehouse club retailers scouring area. (Connecticut)
September 14, 1992... Warehouse club retailers have targeted the outlying suburbs of New York City, studying Westchester and Fairfield counties to start operations that could eventually harm local retailers in these suburban markets. Retail brokers and analysts say...

State gives high-tech firm incentive to move. (Connecticut Department of Economic Development urging Alpine Group Inc. Alpine PolyVision Inc. to relocate)
September 14, 1992... HARTFORD -- The Alpine Group Inc. and the state Department of Economic Development have reached an agreement in principle under which Alpine's subsidiary, Alpine PolyVision Inc., will relocate its headquarters and flat panel display manufacturing...

FDIC's liquidation rule snags Fairfield Lumber: 72-year-old building supplier files Chapter 11, seeks time to refinance $8.7 million in debts. (Federal Deposit Insurance Corp.; Fairfield Lumber and Supply Co.)
September 21, 1992... FAIRFIELD -- One of the region's largest suppliers of building materials has filed for bankruptcy, caught in the squeeze of a collapsed construction industry and the federal reorganization of failed local banks. Fairfield Lumber & Supply Co.,...

Meat purveyors say legal loophole gives chains unfair edge. (discount membership-only food chains)
September 21, 1992... Discount membership-only warehouse food chains, actively seeking to expand into Fairfield and Westchester, may be operating in violation of federal meat inspection laws, while providing meat marketers with an unfair competitive edge, according to...

Health care scandals next target of FBI, agent tells data managers. (Connecticut)
September 21, 1992... WESTPORT -- Connecticut financial institutions failed in record numbers during the Great Recession of the 1990s -- 23 in all in the last several years. Bad banking practices, plummeting real estate prices and the Northeast's general economic hard...

PR Data Systems uses clips, computer chips to quantify results. (PR Data Systems Inc.) (Company Profile)
September 21, 1992... NORWALK -- PR Data Systems Inc. believes you can increase the efficiency of ongoing public relations programs -- in terms of the exposure achieved for the dollars spent -- by at least 15 percent in just one year if you use the information...

Bringing out the best in downtown markets. (Norwalk, Connecticut) (Focus: Real Estate/Environmental)
September 21, 1992... A fresh coat of paint and some new plants in the yard can do wonders for the family home. For cities aiming to spruce up their downtowns, physical improvement programs are one tried-and-true method for attracting new business. In Norwalk,...

Olin has reduced reportable emissions by 55 percent since 1987. (Olin Corp.) (Focus: Real Estate/Environmental)
September 21, 1992... STAMFORD -- As a result of extensive pollution prevention efforts companywide, Olin Corp. has reduced its overall emissions of reportable chemicals by 55 percent since the base year of 1987 -- placing the company well on its way toward meeting...

Environmental concerns and the exposure of emerging businesses. (Focus: Real Estate/Environmental)
September 21, 1992... Preparing a business plan, obtaining financing, developing a marketing strategy, growing the business-those are the consuming challenges of anyone who leads an emerging business. Environmental concerns? That's a matter for some big chemical...

Down market is no obstacle for United Properties. (United Properties Inc.) (Focus: Real Estate/Environmental) (Company Profile)
September 21, 1992... FAIRFIELD -- In today's climate of high vacancy rates and scarce institutional financing for new projects, it is rare to find a developer who is actually developing. However, United Properties of Fairfield is currently building a 12-theater...

CUNO Inc. expands local operations - $2 million in state incentives helps. (Connecticut) (Focus: Real Estate/Environmental) (Company Profile)
September 21, 1992... MERIDEN -- CUNO Inc., an international manufacturer and marketer of fluid purification systems, plans to expand substantially its Connecticut operations. The company has received a $2 million package of incentives from the state to facilitate...

Remington, Bridgeport benefit from financial deal; combination of loans, investments will keep shaver-maker in state. (Remington Products Co. in Connecticut)
September 28, 1992... BRIDGEPORT -- A flurry of financing hit Remington Products Co. as the Bridgeport-based electric shaver manufacturer received fresh capital and took on new debt that includes a state-guaranteed $15 million loan from People's Bank. The...

Vacant 56-acre parcel in Fairfield heads for auction; attractive piece of land has defied development. (Connecticut)
September 28, 1992... FAIRFIELD -- The scoreboard reads: 56-acre parcel of undeveloped land -- 4; major Fairfield County developers -- zero. Anyone else want to try? Apparently so, according to the attorneys handling the Oct. 24 court-ordered auction of the nearly...

$20 million mall a boon for Stamford. (Connecticut)
September 28, 1992... STAMFORD -- Conroy Development of Greenwich and Cerruzzi Properties of Westport plan to resurrect a section of Stamford by turning the vacant downtown Bloomingdale's into a $20 million "urban power center." In addition, the joint venture has...

SBA marshals capital resources to counter region's credit crunch. (Small Business Administration)
September 28, 1992... TRUMBULL -- Connecticut companies under the gun of the state's credit crunch may find relief in the form of fresh capital from Washington, D.C., being pumped into the region by the U.S. Small Business Administration. "Through no fault of their...

Greenwich Health Examiners helps corporations steer clear of crises. (Greenwich Health Examiners Inc.) (Focus: Healthcare/Fitness)
September 28, 1992... GREENWICH -- Greenwich Health Examiners Inc., an independent medical facility at Greenwich Hospital, has been providing services to corporations and individuals in the community for 14 years. Greenwich Health Examiners (GHE) offers an Employee...