Hartford Business Journal

January 26, 2015

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G r e at e r H a r t f o r d ' s B u s i n e s s n e w s w w w. H a r t f o rd B u s i n e s s . c o m for more B2B news visit January 26, 2015 Volume 23, number 9 $3.00 subscribe online Friday, March 20th, 2015 8:30am – 1:00pm Hartford Hilton L e a r n i n n o v a t e C o L L a b o r a t e S a v e SUMMIT ANNUAL 's Index ■ Reporter's Notebook: PG. 5 ■ Week in Review: PG. 6 ■ The List: PG. 9 ■ Deal Watch: PG. 11 ■ Nonprofit Profile: PG. 18 ■ Opinion & Commentary: PG. 20 Focus: AccountinG Rush to Hire Some local accounting firms are scrambling to add new talent as a workforce shortage, particularly in more senior-level positions, is intensifying competition on the recruiting trail. PG. 8 new FeAture: Executive Profile HBJ is introducing a new biweekly feature in this week's paper called "Executive Profile." While we have always profiled business and community leaders in the past, this new feature aims to show a more personal side of Greater Hartford's top executives, who will share insights about their management and leadership styles and how they earned their way to the top. In this week's issue we spotlight Adrienne W. Cochrane, president and CEO of the Urban League of Greater Hartford. PG. 10 CT ruffles tribal feathers with online payday loan ban By Gregory Seay gseay@HartfordBusiness.com C onnecticut recently slammed the door on an Oklahoma Indian tribe's attempts to ply needy residents with ultra-high-interest "payday loans" via the Internet, a move that has opened a new portal to the legal debate over whether or not Indian tribes must follow state consumer-lending laws. In one of his final acts before retiring as state banking commis- sioner, Howard F. Pitkin on Jan. 6 issued an opinion that tagged as baseless claims by the Otoe- Missouria tribe and its tribal chairman that it has "tribal sov- ereignty" to grant loans for less than $15,000 with interest of 200 Continued on page 16 CT Children's eyes long-term growth, manages short-term challenges By Greg Bordonaro gbordonaro@HartfordBusiness.com M arty Gavin knows how to take the long view of markets. The 64-year-old earned his executive stripes in the insur- ance and financial services sectors, spending nearly three decades managing the ups and downs in the economy and stock mar- ket to safeguard his company's and clients' assets. It's now an approach he has had to adopt as CEO of Connecticut Children's Medical Center, which has faced significant financial head- winds recently, including $20 million operating deficits in each of the last two fiscal years, driven largely by a growing Medicaid patient population that is severely underfunded by the state. In early January, lawmakers approved a special $10 million payment to help shore up the hospital's bottom line. Despite the recent woes, however, Gavin remains bullish about the Continued on page 14 Connecticut bank regulators ruled recently that high-interest loans from Clear Creek Lending and other tribal-owned online payday lenders are illegal in this state. Balancing Act Connecticut Children's Medical Center CEO Marty Gavin said he is bullish about the future of his hospital even though it has faced sizable operating losses the last two fiscal years. P H O T O | P a b l O R O b l e s

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