Hartford Business Journal

4 HARTFORDBUSINESS.COM | SEPTEMBER 20, 2021 Biz Briefs This presentation is for informational and educational purposes only and should not be relied upon as investment advice or the basis for making any investment decisions. The views and opinions expressed may not be those of UBS Financial Services Inc. UBS Financial Services Inc. does not verify and does not guarantee the accuracy or completeness of the information presented. For more information, please review the PDF document at ubs.com/relationshipsummary. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker- dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business, that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information, please review the PDF document at ubs.com /relationshipsummary. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP ® and Certified finanCial Planner TM in the US. For designation disclosures, visit ubs.com/us/en/designation-disclosures. © UBS 2021. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. CJ-UBS-307789415 Exp.: 09/30/2022 Have you considered an ESOP for your business? Please join us on October 19 for a webinar on Tax Reform & ESOPs, featuring Leslie Lauer and Rebecca Glasgow of The ESOP Group at UBS. They will provide an overview of Employee Stock Ownership Plans, including the structure, mechanics and benefits – to selling shareholders, employees, and the business itself. Shane Lieberman of the US Office of Public Policy at UBS will also share his perspectives on tax reform and other issues impacting UBS and their clients. Speakers Leslie A. Lauer, CFP ® , CEPA ® , ChFC ® Managing Director–Wealth Management Rebecca T. Glasgow, CFP ® , CEPA ® Senior Vice President–Wealth Management Guest Speaker Shane Lieberman Executive Director, Federal Affairs Manager US Office of Public Policy Hosted by David Fasi CFP ® , CEPA ® Vice President–Wealth Management Fasi Wealth Management UBS Financial Services Inc. One State Street, Hartford, CT 06103 Tuesday, October 19 9:00 – 10:15 a.m. EDT RSVP by October 12 to: david.fasi@ubs.com 860-275-8006 OR scan QR code here: Tax Reform and ESOPs Join us for a webinar on the benefits of ESOPs Yes No 13% 87% HBJ Flash Poll Each week Hartford Business Journal polls its 10,000-plus HBJ Today subscribers on a hot topic. Here's this week's results. Were health insurers justified in asking for rate hikes averaging 12.9% on small group plans (for businesses with up to 50 employees)? TOTAL VOTES: 376 operations, according to the governor's office. The added funds will help "Full Color Connecticut" advertisements reach about 33% of its target audience in Connecticut, New York, Massachusetts and Rhode Island, compared to around 10% in recent years. UConn named top 25 public institution for 10th consecutive year The University of Connecticut was ranked No. 23 in U.S. News & World Report's annual rankings for top public colleges and universities, the 10th consecutive year UConn cracked the top 25. The recently-released rankings include 210 national public schools. Overall, UConn ranked No. 63 of 391 public and private institutions — the university tied with four other schools for the No. 63 spot. Meanwhile, U.S. News and World Report ranked Yale University No. 5 on its list of top national universities, one spot below it's ranking last year. Stanley Black & Decker to acquire Excel Indus- tries for $375M New Britain tools and hardware manufacturer Stanley Black & Decker has agreed to acquire Excel Industries, a maker of turf equipment, for $375 million in cash. Stanley officials said Excel's shareholders approved the buyout in a recent vote. Excel, which has its headquarters in Hesston, Kansas, designs and manufactures commercial and residential turf-care equipment under the Hustler Turf Equipment and BigDog Mower Co. brands. The company supplies around 1,400 independent equipment dealer outlets across the U.S. and Canada, and employs around 600 people. Stanley Black & Decker is riding high off of a pandemic-inspired renovation boom, which set in midway through last year as many cooped-up Americans decided to undertake home-improvement projects. Insurance department approves rate hikes for 2022 – though not as large as carriers sought Connecticut consumers will see higher rates in many health insurance plans next year, though not as much of an increase as insurance companies had sought. The state Department of Insurance has approved an average rate hike of 5.6% for individual health plans in 2022. The carriers had requested an average increase of 8.6%. For small group policies, the insurance department authorized an average rate hike of 6.7%. The insurers had asked for 12.9%. State Insurance Commissioner Andrew Mais said his department had saved consumers a collective $76 million next year by approving smaller rate hikes. Jenna Carlesso | CT Mirror An office meeting at Clarus Commerce's headquarters in Rocky Hill's Corporate Ridge business park.. PHOTO | CONTRIBUTED Rocky Hill's Clarus Com- merce acquires Michigan firm Clarus Commerce, a Rocky Hill software company specializing in premium loyalty programs for retailers, has acquired Michigan- based PrizeLogic, a proprietary loyalty platform, in a deal expected to nearly double Clarus' headcount. The combined company will bring together Clarus' workforce, which numbers around 140 people, with PrizeLogic's staff of over 100 employees, according to a statement from the firms. Financial details of the deal were not disclosed. Clarus officials said the addition of PrizeLogic will help round out the parent company's offerings to clients. Clarus currently specializes in premium loyalty programs, where members pay a fee in exchange for enhanced benefits and experiences, while PrizeLogic offers punch cards, reward points and rebates, which have a lower barrier to entry to a wider consumer base. Developers eye 360-unit apartment development in East Hartford Plans are in the works to transform the now-leveled former Showcase Cinemas site in East Hartford into a market-rate, highly-amenitized community capable of drawing in new residents and spurring commercial activity in town. The East Hartford Town Council has authorized Mayor Marcia Leclec to enter into a purchase and sale agreement for the Silver Lane location with New Britain-based Jasko Development and Zelman Real Estate of West Hartford, which are collaborating on the project. Jasko and Zelman are planning around 360 units, including studios and one-, two- and three-bedroom apartments. The units would be spread out over seven buildings, each either three- or four-stories tall. An eighth building would serve as a clubhouse, opening to a pool and cabana area.

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