Hartford Business Journal

Editorial Greg Bordonaro | Editor, ext. 139 gbordonaro@hartfordbusiness.com Drew Larson | Web Editor, ext. 121 alarson@hartfordbusiness.com Michael Puffer | Staff Writer, ext. 145 mpuffer@hartfordbusiness.com Beats: Real Estate, Economic Development, Banking & Finance Robert Storace | Staff Writer, ext. 127 rstorace@hartfordbusiness.com Beats: Health Care, Higher Education, Arts & Culture Skyler Frazer | Staff Writer, ext. 145 sfrazer@hartfordbusiness.com Beats: Manufacturing, Cannabis, Technology, Transportation Tim Doyle | Lead Researcher Heide Martin | Research Assistant Steve Laschever | Photographer Business Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com David Hartley | Senior Accounts Manager, ext. 130, dhartley@HartfordBusiness.com Daniel Schilke | Senior Accounts Manager, ext. 135, dschilke@HartfordBusiness.com Emily Paskind | Senior Accounts Manager, ext. 133, epaskind@hartfordbusiness.com Valerie Clark | Director of Audience Development, ext. 332 vclark@nebusinessmedia.com Jill Coran | Human Resources Manager jcoran@nebusinessmedia.com Megan Mason | Events Manager, mmason@hartfordbusiness.com Production Bartosz Zinowko | Production Director, ext. 147 bzinowko@hartfordbusiness.com Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Mary Rogers | COO/CFO, mrogers@nebusinessmedia.com Tel: (860) 236-9998 | Fax: (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O Box 330 Congers, NY 10920-9894 HARTFORDBUSINESS.COM | October 10, 2022 3 Subscriptions Annual subscriptions are $132.00. To subscribe, visit HartfordBusiness.com, email circulation@ hartfordbusiness.com, or call (845) 267-3008. Advertising For advertising information, please call (860) 236-9998. Please address all correspondence to: Hartford Business Journal, 100 Allyn Street, Suite 3, Hartford, CT 06103 Stay Connected For breaking and daily Greater Hartford business news go to: www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln:www.linkedin.com/company/the-Hart- ford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend: www.hartfordbusiness.com/enewsletters Hartford Business Journal (ISSN 1083-5245) is published bi-weekly, 27x per year — including two special issues in November and December — by New England Business Media, LLC, 100 Allyn Street, Suite 3, Hartford, CT 06103. Periodicals postage paid at Hartford, CT and at additional entry points. Hartford law firm Rome McGuigan disbands H artford law firm Rome McGuigan – a mainstay in downtown for 41 years – has disbanded and its remaining five attorneys are joining other firms. The firm filed a notice of dissolution with the Secretary of the State's office Sept. 30, at 11:59 p.m. The venerable law firm was founded by Austin McGuigan, a former chief state's attorney who died in March 2021, and Lewis Rome, a former Republican state senate majority leader. Rome died in July 2015. At one time, the law firm – which was based at One State Street downtown – had about 20 partners. When it disbanded, it had five attorneys who decided remaining an independent firm was no longer feasible, a source said. Report: Stanley Black & Decker Inc. cuts 1,000 finance positions New Britain power tools and lawn equipment maker Stanley Black & Decker Inc. — which has struggled with inflation and slowing demand following a boost in business at the start of the pandemic — has cut about 1,000 finance jobs as part of a larger cost-cutting initiative, according to the Wall Street Journal. The finance layoffs are part of broader job cuts within the company "that have affected thousands of workers around the world," the Wall Street Journal reported, citing unnamed current and former employees. The Hartford Business Journal reported in July that Stanley was planning to implement a significant cost-cutting initiative that would trim expenses by up to $200 million by the end of this year, $1 billion by the end of next year and $2 billion within three years. At the time, Stanley Black & Decker President & CEO Donald Allan Jr. said inflation, rising interest rates and significantly slower demand in late May and June were major headwinds. Report: Activist investor seeking possible sale of Bristol-based Barnes Group A new activist hedge fund, Irenic Capital Management, has report- edly built a stake in Bristol-based Barnes Group Inc. and is exploring a possible sale of all or part of the company, Bloomberg reported. Irenic is asking the aerospace manufacturer to make changes to its board of directors and pursue a strategic review, according to Bloomberg. Irenic told management it believes Barnes could garner up to $60 per share in a sale, Bloomberg reported, citing unnamed sources. Barnes is the first public company to be targeted by Irenic, which was founded last year by Adam Katz, a former executive at Elliott Investment Management, and Andy Dodge, formerly of Indaba Capital Management. Barnes Group has gone through a number of changes this year including in leadership. Thomas J. Hook took over the CEO position in July, succeeding Patrick J. Dempsey who held the position for almost a decade. CT Children's moving forward with proposed $280M Hartford campus expansion Connecticut Children's has submitted a 345-page master plan to the Hartford Planning and Zoning Commission outlining its ambitious $280 million expansion that will reshape the hospital's Hartford campus. The centerpiece of the expan- sion, first reported by the Hartford Business Journal in June, is a new 195,000-square-foot, eight-story patient tower on its Washington Street campus. The plan also outlines construction of a possible future parking garage across Washington Street. Connecticut Children's current campus measures about 321,000 square feet with 187 beds. The expansion will also involve the creation of a new fetal care center. In a June interview with the Hart- ford Business Journal, Connecticut Children's President and CEO Jim Shmerling said only a handful of fetal care centers exist throughout the country. Citigroup CEO: We're considering opening offices in CT, NJ to shave employee commute times Citigroup CEO Jane Fraser said recently that the investment bank is considering opening offices in Connecticut or New Jersey to help employees save time and money on their commutes, Fortune magazine reported. Fraser made the remark during a House Financial Services Committee hearing, where she was joined by the CEOs of several major U.S. banks who were questioned by members of the committee regarding dealings with China and Russia, among other matters. Fraser said the New York City- based company is "actively" looking at opening hubs in the tri-state area, as the country contends with 8.3% Biz Briefs Donald Allan Jr. Barnes Group's Main Street headquarters in Bristol. PHOTO | COSTAR A rendering of CT Children's new planned patient tower. RENDERING | CONTRIBUTED This is the former Hartford home (One State Street) of law firm Rome McGuigan. PHOTO | COSTAR

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