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By Mitchell Young
WASHINGTON: Aetna [NYSE: AET] and Cigna [NYSE:CI] have watched their huge mergers collapse this month under the weight of lawsuits brought by the Obama administration.
The Justice Department won a first round legal ruling against the Anthem [NYSE: ANTM] Cigna deal and Cigna said enough is enough. Anthem said no way, and now the would be couple are talking trash and in court.
Cigna CEO David Cordani was among the health insurance executives that met with the President. Cigna and Anthem are suing the hell out of each other, over their busted deal, both sides are claiming the other guy wanted to scuttle the merger. Some recent reports say that with a new administration, Cigna, Anthem's merger could be resurrected.
Nonpartisan analysts cite eroding CT income tax receipts
Eroding income tax receipts have pushed the current state budget back into the red, nonpartisan analysts reported Monday.
More importantly, the $65.2 million shortfall the Office of Fiscal Analysis reported also reflects a potential hole of about the same size in each year of Gov. Dannel P. Malloy’s new biennial budget proposal.
That’s because the revenue schedules in the governor’s plan are based in part on estimated tax receipts for the current fiscal year.
WASHINGTON: The U.S. House of Representatives on Monday brushed aside a major obstacle to the full establishment of Coltsville National Park by approving legislation that changes the site of the park’s headquarters.
Coltsville was established by legislation Congress approved in December of 2014. That legislation required that the National Park Service be given 10,000 square feet of space in the Colt complex’s blue-domed East Armory in Hartford.
But the park service and the company developing some of Sam Colt’s former properties, including the East Armory, decided two one-story brownstones next to the armory would better serve as offices for park administration and visitor services. The two buildings were constructed in 1855 and are all that remains of Sam Colt’s original factories.
By MItchell Young
HARTFORD: The date has been set and registration is open for The Connecticut Governor’s Conference on Tourism [registration link] on May 4th at the Connecticut Convention Center.
The confab comes at a time that Connecticut’s largest tourism draws, the Foxwoods and the Mohegan Casinos are bracing for significant competition from new casinos, in neighboring Massachusetts and New York.
The Nutmeg tourism industry is said to employ more than 60,000 people, nearly a third at the two Casinos and their immediate vicinity. The Connecticut Department of Economic and Community Development [DECD] says, that overall tourism employment grew 13.6% in the past ten years and the Department of Tourism says that more than 1.6 million people visited Connecticut in 2015.
Study Finds Connecticut A Fine Place To Do Business
Economist Klepper-Smith: “Some positives that are undeniable.”
DECD Commissioner Smith: We’re high value in many ways.”
CBIA’s Brennan: “We have amazing assets here.”
There has been no shortage of criticism of Connecticut’s business climate in recent years as the state recovers slowly from the Great Recession.
But a new study issued in December by the Council on State Taxation concludes Connecticut actually is tied for the most favorable business climate — if one considers not just the cost of doing business, but the potential for earning big profits here.
And while the report has its supporters and critics, it shows the task of evaluating Connecticut’s readiness to do business is not simple.
New Haven Magazine