Industry News
Raveis’ Avon Office Home To Short Sale Specialist
February 23, 2009 | Reprints | Unlock LinkGeena Becker of William Raveis Real Estate’s Avon office has gained recognition as a certified short sale specialist (CSS) by the Floyd Wickman Master Sales Society.
Travelers Gives $19M Back In ’08
February 23, 2009 | Reprints | Unlock LinkThe Travelers Cos., which has large operations in Hartford, donated more than $19 million nationwide last year, and almost $200,000 locally, to help fund education, the arts and community development.
ING In With Flynn
February 23, 2009 | Reprints | Unlock LinkDutch bank ING, which has significant operations in Connecticut, is expected to appoint Patrick Flynn as chief financial officer at its upcoming shareholders meeting in April.
Odyssey Re Down 56 Percent In Q4
February 20, 2009 | Reprints | Unlock LinkStamford reinsurer Odyssey Re reported net income of $107.8 million in the fourth quarter, down almost 56 percent from more than $245 million for the same period in 2007.
Hartford Mayor Seeks Dismissal Of Corruption Charges
February 20, 2009 | Reprints | Unlock LinkHartford Mayor Eddie Perez is seeking the dismissal of bribery charges in a motion that cites grand jury testimony which his lawyer says contradicts the state’s allegations.
Listen Up: Cigna Goes Digital With Podcasts
February 20, 2009 | Reprints | Unlock LinkNationwide health and life insurer Cigna, which has major operations in Bloomfield, has taken its health outreach efforts digital, with a series of audio podcasts launched recently on its health information Web site.
Sifting Through The Stimulus
By Kenneth R. Harney | Washington Post Columnist | February 20, 2009 | Reprints | Unlock LinkHere’s a quick rundown on several real estate-related benefits in the recently passed economic stimulus package.
Lawmakers Turn Attention To Fraud
By Matt Carter
 | Inman News Service | February 20, 2009 | Reprints | Unlock LinkAs the government ramps up to spend trillions of dollars to revive the economy, loopholes in federal law and a shortage of FBI agents assigned to investigate white-collar crime could lead to a big payday for perpetrators of mortgage fraud and other schemes.

The Oncoming Stampede

By Laura Schreier | Commercial Record Staff Writer | February 20, 2009 | Reprints | Unlock LinkThroughout the sub-prime mortgage meltdown, community lenders have been able to brandish their loan portfolios and point out they were relatively clean of the kind of toxic sub-prime mortgages that sent financial behemoths into convulsions.

Bankers Bemoan Public Enemy Status
By Laura Schreier | Commercial Record Staff Writer 
 | February 20, 2009 | Reprints | Unlock LinkThe nation seems to be mostly jeering and throwing rotten fruit at its bankers these days: Banking CEOs got lambasted by Congress last week, bad headlines continue apace – a major movie released last weekend even featured a bank as a maniacal villain out to kill Clive Owen.

CR Poll: MLS Merger Would Better Serve Agents
By Cory S. Hopkins | Commercial Record Web Editor | February 19, 2009 | Reprints | Unlock LinkIf the results of a recent, highly unscientific Commercial Record online poll are any indication, real estate brokers and agents in Connecticut are suffering from MLS merger fervor.
Southington Business Leader Suspended
February 19, 2009 | Reprints | Unlock LinkSouthington’s Chamber of Commerce director has been suspended for making a satanic reference about President Barack Obama.
Conn. Mortgage Rates Keep Falling
February 19, 2009 | Reprints | Unlock LinkThe average 30-year mortgage rate in Connecticut stood at 5.2 percent last week, a 3.7 percent drop from the week prior, according to online mortgage tracker Zillow.
In Their Mind, They’re Gone To Carolina
February 19, 2009 | Reprints | Unlock LinkNorth Carolina was the favored destination for Connecticut second-home buyers in 2008, according to an analysis by online housing information provider PrivateCommunities.com.
UBS Panelist: Standard Economic Models Proved Useless
By Laura Schreier | Commercial Record Staff Writer | February 19, 2009 | Reprints | Unlock LinkGlobal economic models used as the basis for many economists’ and lawmakers’ decisions have not done us much good, according to at least one panelist assembled by global banking giant UBS, which has a large presence in Stamford.
Agents Say State Catastrophe Fund A Bad Idea
February 18, 2009 | Reprints | Unlock LinkState lawmakers should abandon plans to create a state natural catastrophe fund, according to The Professional Insurance Agents of Connecticut (PIACT).
Detergent Co. Cleans Up With Trumbull Lease
February 18, 2009 | Reprints | Unlock LinkThe Sun Products Corp., a manufacturer of laundry detergent products, has signed a 15-year lease totaling 45,615 square feet at 30 Trefoil Dr. in Trumbull.
Downgraded Investments Cost Washington Trust Almost $600K
February 18, 2009 | Reprints | Unlock LinkThe downgrade of a key investment security of Washington Trust Bancorp Inc., parent company of The Washington Trust Co. of Rhode Island, will cost the company $595,000 pre-tax, the company said.
General Electric CEO Declines ’08 Bonus
February 18, 2009 | Reprints | Unlock LinkGeneral Electric Co. said Wednesday that Chairman and Chief Executive Jeffrey Immelt declined his 2008 bonus as it struggles with a declining stock price amid a deteriorating economy.
Environmental Assessments Down, Echoing Poor Commercial Market
February 18, 2009 | Reprints | Unlock LinkThe number of environmental site assessments, a key component in many commercial real estate sales, conducted in the fourth quarter fell dramatically nationwide compared to 2007, yet another indicator of the poor health of the commercial market, according to a Milford environmental assessment firm.
