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CBIA in the News - Newspaper Articles - 2005 ArchivesUnless otherwise noted, all articles are saved as PDF files. To download Adobe Acrobat click here. Economists predict slower growth, not a collapse By Rob Varnon 12-8-05 STAMFORD — Several big bumps in the road leading to economic growth — including overburdened infrastructure, higher energy prices and consumer fears — could derail even the projected slow growth pattern four economists predicted for the state and Fairfield County in 2006. Tom Appleby, news director for News 12 Connecticut and moderator of a panel discussion Wednesday at the Westin Hotel, said there should have been an open bar at the event to help people face the less-than-stellar forecasts. Nearly 300 people attended the forum, which was organized by the Connecticut Business & Industry Association. State not faring well at creating economic growth, survey indicates By Marc Silvestrini The Legislature must make creating jobs its top priority, according to a statewide poll of business executives. The Connecticut Business & Industry Association released the results Wednesday of its 2005 Annual Membership Survey, in which the majority of participants called for government leaders to encourage economic growth and job creation in Connecticut. They suggest reducing business costs, improving the state's transportation and energy infrastructures, and enhancing workplace readiness skills. (more) Connecticut business executives said the state needs to help decrease the costs of doing business and improve the transportation and energy infrastructure to promote economic growth. By Damian Troise New Haven Register 12-1-05 The findings are part of the Connecticut Business & Industry Association’s 2005 Annual Membership Survey. In the survey, 83 percent of the respondents rated the overall cost of business "fair" or "poor," and 81 percent said they expect the situation to get worse. Of those costs, 59 percent said rising health care benefits are of greatest concern. "When we see that the majority said Connecticut ranked ‘fair’ or ‘poor’ when it came to business climate, that was something we were a little surprised to see," said Joe Brennan, senior vice president of public policy at the CBIA. (more) State economy expected to grow By B. Z. Khasru Despite burning fuel prices and Katrina' hammering, area economists are predicting a fairly positive outlook for the state economy, saying Connecticut' growth momentum will continue, although at a slower pace. 'The outlook is still reasonably OK, but the downside risks are a bit higher than a few months ago,' said Nick Perna, Webster Bank' economic adviser. Currently, according to Peter Gioia, an economist with the Connecticut Business & Industry Association, 'Connecticut' economy is growing and several key industries -- financial services, manufacturing and technology ---- are doing better than they were. (more)
Oil crunch to have wide impact By Rob Varnon The Connecticut Post 11-17-05 CROMWELL — The end of cheap oil could spell the end of cheap Oreos unless the nation can find ways to diversify its fuel base and conserve energy, according to speakers at an annual conference on energy prices and supplies Wednesday. (more)
Mileage payments climbing By Edward J. Crowder The Connecticut Post 9-5-05 The state of Connecticut and some private employers are bumping up mileage reimbursement rates in response to rising prices at the gas pump. The state last week boosted the rate for state employees using private vehicles for business from 40.5 cents to 48.5 cents a mile. The increase affects most of the state's 51,000 regular and union employees, officials said. The total cost to taxpayers is unclear, because mileage is reimbursed out of the budgets of individual state agencies. (more)
Fed committee raises rates Fed committee raises rates Says Katrina won't have 'persistent' effect By Pam Dawkins The Connecticut Post 9-21-05 Continuing its ongoing quest to keep inflation in check, the Federal Open Market Committee on Tuesday made it a bit more expensive to borrow money while improving the payoff for those who save it. In its 11th increase since June 2004, all but one of the FOMC members voted to raise the federal funds rate by one-quarter percent, to 3 percent. The dissenting member preferred no change. (more) New jobs outlook cloudy By Pam Dawkins The slightly positive outlook for near-future hiring and business conditions reported in recent surveys of area businesspeople may become a victim of higher energy prices, according to local business experts. "I think there'll be some modification of consumer behavior," Peter M. Gioia, the economist with the Connecticut Business & Industry Association, said Monday. For example, Gioia said, he expects demand for hybrid vehicles to rise, but, he added, energy prices have been going up for the past several years, which didn't stop consumers from buying. In its 2005 Survey of Connecticut Businesses, released Friday by the CBIA and accounting firm Blum Shapiro, the statewide business group reported that executives were "mostly upbeat" about their companies. But those executives said ongoing challenges include the high cost of health-care benefits and taxes. And only 25 percent expected to add jobs in the next year, compared with 33 percent in the 2004 survey. (more) Cities and towns doing fairly well, study shows Fairfield County Business Journal While most top executives in Connecticut's cities and towns say they are being squeezed by rising costs and slow revenue growth, greater adherence to municipal best practices could relieve some of the pressure, according to a study. The Connecticut Municipal Best Practices Survey by the Connecticut Business & Industry Association (CBIA), Shipman & Goodwin and Northeast Utilities examined whether municipalities are following key recommended practices of the Government Finance Officers Association as set forth by the National Advisory Council on State and Local Budgeting. The survey focused on strengths and weaknesses of the fiscal planning of local governments. It identified possible opportunities for improvement in three specific areas of government operations: general management, capital assets and taxpayer needs and concerns. (more) State's Businesses Upbeat By Anthony Cronin An annual survey by the state's largest business association shows that companies are basically upbeat about their prospects but are concerned about rising health-care costs, taxes and a lack of qualified workers. The survey, released Friday by the Hartford-based Connecticut Business & Industry Association and regional accounting firm Blum Shapiro, said most firms in the state were profitable this past year and are reinvesting in their businesses. (more) Survey to give a voice to county businesses By Dan Strempel More than 8,000 Fairfield County businesses will soon receive a first-of-its-kind survey meant to project their collective voice on public-policy matters up to the decision-makers in Hartford. "It's going to be a comprehensive survey on business and public-policy issues, particularly those which affect Fairfield County, such as transportation, energy issues, work force and health care," said Peter Gioia, economist with the Connecticut Business & Industry Association (CBIA). (more) On Financial Front, $3 Billion Worth Of Worry Swept Away Connecticut can breathe a sigh of relief — a $3 billion sigh. CBIA report: Credit expected to tighten By Rob Varnon Rising interest rates and a slower economy spurred a more pessimistic
view of the future availability of credit among business leaders, the
Connecticut Business & Industry Association said Monday. State's executives are losing confidence in economy Manufacturers on the spot By Rob Varnon ROCKY HILL — Stop complaining about China and other countries and
get to work. Future jobs a question of degree By Rob Varnon Connecticut job seekers have mixed opportunities when it comes to available
careers, a recent state Department of Labor report said, with more than
50 percent of vacancies paying less than $16.67 per hour. Salaries may be greener depending on location 5-11-05 Employees looking for a pay raise may only have to look to the city next
door, according to a recent study of salaries nationwide. Yahoo's pricing hurting online music providers Donald Sessions, general manager of Bridgeport-based Calzone Cases, said it's a great time to be a Connecticut manufacturer, because you get to prove your mettle against the rising power of an industrialized China. Sessions made his pronouncement Wednesday during the Connecticut Business & Industry Association's annual Manufacturing and Technology Day in the Rotunda in the State Capitol. The CBIA event attracted hundreds of visitors throughout the day. They viewed displays by 39 companies that make their products in Connecticut. (more) Health benefits bill is totally misguided Editorial There are times when you scratch your head and wonder just what lawmakers
in Hartford are thinking. Bill Would Force Corporate Tax Disclosure State lets $4 billion a year slip through loopholes By Gregory B. Hladky HARTFORD — Connecticut could find the tens of millions of dollars
it would need to pay for public campaign financing by closing some corporate
tax loopholes, such as those on Internet sales, according to a new study.
However, Joseph F. Brennan, senior vice president for the Connecticut Business and Industry Association, rejected the study’s conclusions and warned that wholesale revisions of the corporate tax code could drive companies and jobs out of the state. (more) Energy costs worry purchasing managers By Cara Baruzzi Anticipating price increases of more than 10 percent this year for oil,
gas and electricity, Connecticut purchasing managers named rising energy
costs as their top concern in a quarterly survey released Wednesday. Manufacturing career choices By Dave Goldberg WATERBURY - A thousand students, a booming sound system, a laser light
show and a metal-stamping demonstration welcome to the Sixth Annual Manufacturers'
School-to-Career Symposium, or to paraphrase one event coordinator, two
days of industrial bling-bling.- Industry To Fund Students CBIA defends business’ tax rate By Steve Higgins Connecticut businesses paid at least $4.7 billion in state business taxes,
local property taxes and state fees in fiscal year 2002, according to
a study released Tuesday by the Connecticut Business and Industry Association.
Town Woos Manufacturer, Spurns Casino By Karen Florin North Stonington— The same town that is going to great lengths to prevent the Eastern Pequots from opening a casino is ready to roll out the red carpet for Brown & Sharpe, a precision instrument manufacturer considering relocating from Rhode Island to an industrial zone off Interstate 95. (more) Minimum wage fight in offing By Rob Varnon Dems chide Rell for not targeting wealthy, Republicans praise
her for closing gap Firms find pain, gain in Rell budget Rhode Island Manufacturer Hoping To Build Plant In North Stonington Region To Gain 2,300 Jobs With Mashantuckets' Expansion Plan World's biggest casino plans major expansion By Jessica Durkin Oil prices expected to drop Workers needed for manufacturing Editorial CBIA session predicts year of slight growth Rising deficit an issue, says banker By Maria Garriga CROMWELL — One of New England’s most powerful bankers warned
Wednesday the nation’s growing deficit and negligible personal savings
rate could cramp long-term economic growth.
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