|Business News Links|
Business Moves with Building Sale
|Twin Facades of Corporate Assistance|
|Craft Beer Keeps Brewing in CT|
|Builders Say Too Many Regs|
|Pro Business Efforts in Legisalture|
Mashantucket, Uncasville: Connecticut’s casinos have reported mixed results for April.
Foxwoods reported slot revenue of $39.4 million for the month, down 3% compared to $40.7 million in April of 2016, the state received $10.5 million.
In an effort to maintain its franchise with Massachusetts gamblers the casino promoted Wicked Good Times celebration for the month, including bonus play on slots and table games and luxurious overnight getaways.
Foxwoods opened the Sugar Factory American Brasserie, with the help supermodel Nina Agdal and rapper/ actor Nick Cannon, who manned the turntables as the evening's DJ at an opening celebration.
The sun was shining a little brighter on the Mohegan Sun Casino in April, it reported a 3% percent increase in revenue from its slot machines in April. With monthly revenue, of $50,986,908.
|Meyers, Harrison & Pia,, CEO, Mark Harrison Signing Up with Marcum|
New Haven: One of greater New Haven’s largest independent account firms has merged with the Marcum LLP a national accounting and advisory services firm, effective immediately. Meyers, Harrison & Pia, LLC and Meyers, Harrison & Pia Valuation and Litigation Support, LLC (MHP) brings 55 partners and staff in New Haven, Connecticut, and Portland, Maine.
MHP was founded in 1954, and according to a news releases from Marcum, “the firm [MHP] specializes in complex business valuation, financial forensic, and litigation support engagements. MHP partners are authoritative speakers, authors and reviewers on valuation and economic damages topics, and serve frequently as court-appointed or jointly retained neutral witnesses in dispute resolution matters.”
“Meyers, Harrison & Pia’s deep expertise in valuation and litigation support and its broad offering in traditional tax, audit and accounting make the firm a perfect strategic fit for Marcum,” said Jeffrey M. Weiner, Marcum’s managing partner.”
The acquisition of MHP expands Marcum’s New England footprint, adding to the existing New Haven office and adding an office in Maine.” Marcum’s New England offices include, New Haven, Hartford, Greenwich, Boston and Providence.
“Joining Marcum will give MHP’s clients and staff significantly greater resources as well as access to a deep bench of talent across the firm’s practice areas, including in advisory services. said MHP CEO Mark Harrison, partner-in-charge of valuation and litigation services, will join the Marcum executive committee.
Windsor Locks: Will Connecticut residents have something new to complain about or will they revel in a new low cost travel option to Florida?
The discount carrier, Spirit Airlines [Nasdaq: SAVE] based in Miramar, Fla will begin service June 15, 2017 between Bradley International Airport and Orlando and Fort Lauderdale Airports and Myrtle Beach, SC.
The discount carrier attracted $2.3 billion dollars in customers last year with its low fares, and investors got on board as well. Traded on the Nasdaq, Spirit’s shares are approaching their annual high and are seemingly in reach of their five year high as well, bringing a $4 billion dollar market cap to the company.
Spirit says it fares are “on average nearly 40% less," adding "our customers start with an unbundled, stripped-down Bare Fare™ and get Frill Control™ which allows them to pay only for the options they choose – like bags, seat assignments and refreshments – the things other airlines bake right into their ticket prices.”
Spirit says its Fleet is “one of the youngest, most fuel-efficient in the U.S.,” it operates more than 450 daily flights to 60 destinations in the U.S., Latin America and the Caribbean.
Greenwich based Chief Executive Magazine released its Best and Worst States of 2017 issue, [May/June].
The cover illustratiion is by Redding resident Robert Pizzo
By Mitchell Young
Greenwich: Chief Executive Magazine is based in Connecticut, but many of its most important readers don’t have a favorable view of the Nutmeg State, as a choice for business. The magazine recently released its Best and Worst 2017 issue [2016 survey data] of CEOs and Connecticut was ranked forty-six.
There were 513 CEO responders and they were asked to rank states they are familiar with, on “the friendliness of their tax and regulatory regime, workforce quality and living environment. (This latter category includes not just the cost of living but the education system and the state and local attitudes toward business).”
No worries, the CEOs don’t always do what they say, New York and Massachusetts, both states with strong economies and a growing number of businesses, ranked 49 and 45 respectively. The worst  was the business powerhouse, California. Governor Dan Malloy can take bragging rights form his nemesis Governor Chris Christy, New Jersey ranked 47,, behind Connecticut – Go Huskies. Illinois, rounded out the bottom five.
By Mitchell Young
New Haven: Biohaven Pharmaceuticals founded in 2013, is developing treatments for neurological diseases and rare disorders, announced terms for its IPO. The company plans to raise $125 million by offering 8.3 million shares at a price range of $14 to $16 and will be listed on the NYSE, with the symbol BHVN.
Insiders will reportedly purchase $70 million worth of shares in the offering (56%), providing the company a fully diluted market value of $546 million [at the midpoint of the IPO range]. Morgan Stanley, Piper Jaffray and Barclays are the joint underwriters, and the stock is expected to price during the week of May 1, 2017.
New Haven Magazine