Hartford Business Journal

HARTFORDBUSINESS.COM | APRIL 1, 2024 3 BIZ BRIEFS Borghesi Building & Engineering Co., Inc. Project Spotlight: Mizu 21 Building Ideas That Work... We're Connecticut's industry leader in the Design/Build delivery of projects providing full service in-house engineering and general contracting. For more than 80 years, we've provided quality and reliability with design and energy efficient construction. We're prepared to work with you all the way from concept to occupancy. We would love to discuss your project with you. Phone: (860) 482-7613 Email: sales@borghesibuilding.com 2155 East Main Street, Torrington, CT 06790 Building Ideas That Work... CROWLEY FORD, PLAINVILLE SULLIVAN HONDA, TORRINGTON Contact us at 860.482.7613 or visit us at BorghesiBuilding.com 2155 East Main Street Torrington, Connecticut 06790 © 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing ™ is a division of BlueScope Buildings North America, Inc. SULLIVAN JEEP, TORRINGTON No matter what brand of vehicle you purchase, you want to be sure that it is reliable. Choosing a builder should be no different. For more than 80 years, Borghesi Building & Engineering Co., Inc. has provided quality and reliability with design and energy efficient construction. With on time construction, Borghesi Building & Engineering Co., Inc. will create a smooth transition from construction to completion. Building Ideas That Work... CROWLEY FORD, PLAINVILLE SULLIVAN HONDA, TORRINGTON Contact us at 860.482.7613 or visit us at BorghesiBuilding.com 2155 East Main Street Torrington, Connecticut 06790 © 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing ™ is a division of BlueScope Buildings North America, Inc. SULLIVAN JEEP, TORRINGTON No matter what brand of vehicle you purchase, you want to be sure that it is reliable. Choosing a builder should be no different. For more than 80 years, Borghesi Building & Engineering Co., Inc. has provided quality and reliability with design and energy efficient construction. With on time construction, Borghesi Building & Engineering Co., Inc. will create a smooth transition from construction to completion. Building Ideas That Work... SULLIVAN HONDA, TORRINGTON Contact us at 860.482.7613 or visit us at BorghesiBuilding.com 2155 East Main Street Torrington, Connecticut 06790 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing ™ is a division of BlueScope Buildings North America, Inc. SULLIVAN JEEP, TORRINGTON No matter what brand of vehicle you purchase, you want to be sure that it is reliable. Choosing a builder should be no different. For more than 80 years, Borghesi Building & Engineering Co., Inc. has provided quality and reliability with design and energy efficient construction. construction, Engineering smooth construction serve as co-chairs. TRUMPF Inc., whose parent company is headquartered in Germany, is the North American subsidiary of German laser-cutting bending and welding technology company TRUMPF Group. Duncaster expansion plan to move forward despite credit rating downgrade Bloomfield-based Duncaster's planned campus expansion is moving forward, after recently receiving approval from the town's Inland Wetlands Agency. Meantime, Duncaster's leadership said a recent credit rating downgrade should not affect the cost or progress of the project, which calls for up to 90 new independent living units to be built on an adjacent campus off Loeffler Road and renovations to a portion of the existing campus. Duncaster is a life plan community, which means it provides a continuum of housing and health services at every level of need for older adults. It's currently home to more than 300 residents who live in independent living apartments or cottage homes. Credit agency Fitch in early March downgraded Duncaster's issuer default rating and the rating on $12 million in Connecticut Health and Educational Facilities Authority revenue bonds to 'BBB-' from 'BBB.' Fitch reported that the downgrade "reflects a weakened operating risk profile driven by deterioration in core operating metrics in fiscals 2022 and 2023," including a "slower-than-an- ticipated recovery in independent living unit occupancy, driven by a greater-than-expected apartment turnover, which has yet to return to pre-pandemic levels." Additionally, Fitch raised concerns about any added debt from the planned expansion. Despite the downgrade, CEO Kelly Smith Papa said Duncaster still main- tains an "investment grade" credit rating. She also said the expansion is already seeing great demand from potential future residents. Arvinas appoints Bristol-Myers exec as new chief medical officer Arvinas Inc. has appointed Dr. Noah Berkowitz as chief medical officer and added him to its executive committee, the New Haven-based biotech company said. He succeeds Dr. Ron Peck, who had served as CMO since joining Arvinas in mid-2019. Peck is leaving to pursue other opportunities, the company said. Berkowitz joins Arvinas from Bris- tol-Myers Squibb, where he was senior vice president, devel- opment unit head of hematology. He will report to Arvinas President and CEO John Houston, and will lead the clinical development of Arvinas' PROTAC protein degrader programs in oncology and neuroscience. This is the second major leadership change at Arvinas in recent months. In February, the company announced that its chief financial officer and trea- surer Sean Cassidy was leaving. The clinical-stage company is working on treatments for prostate and breast cancer. Tong: CT joins 15 other states and DOJ in lawsuit accusing Apple of monopolizing smartphone market The Department of Justice and 16 states, including Connecticut, have filed an antitrust lawsuit against smartphone giant Apple, accusing the company of abusing its monopoly power to stifle competition and make it harder for consumers to switch from Apple's products. Attorney General William Tong announced that Connecticut is among the plaintiffs suing Apple for alleged violations of the Sherman Act. The suit, filed in the U.S. District Court for the District of New Jersey, accuses Apple of "broad-based, exclusionary conduct" that under- mines innovation for apps, products and services and "imposes extraor- dinary costs on developers, busi- nesses and consumers." The complaint alleges that Apple illegally maintains a monopoly over smartphones by selectively imposing contractual restrictions on, and with- holding critical access points from, developers, according to Tong. He said, for example, "Messaging between iPhones and other smart- phones is deliberately degraded and made less secure by Apple. Want to quickly 'tap-to-pay' using a digital wallet other than Apple Wallet? No can do." Lutz Labisch Dr. Noah Berkowitz Attorney General William Tong

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