Hartford Business Journal

September 12, 2016 — CFO of the Year Awards

Issue link: https://nebusinessmedia.uberflip.com/i/724767

Contents of this Issue

Navigation

Page 9 of 31

10 Hartford Business Journal • September 12, 2016 www.HartfordBusiness.com Guns sales on track to break another record By Aaron Smith CNNMoney G uns are selling at unprecedented levels this summer, which means 2016 is well on its way to breaking the all-time record for background checks. Background checks conducted by the FBI totaled 1,853,815 in Aug. 2016, a 6 per- cent increase from Aug. 2015. That's the most checks ever in the month of August since the FBI started conducting background checks in 1998. In fact, every monthly tally this year has hit an all-time high, meaning that 2016 is on track to be the record year for background checks and, by proxy, gun sales. Background checks don't correlate directly to gun sales, but do serve as an important indicator for them, since there are no industry sales figures. But Smith & Wesson and Connecticut- based Sturm Ruger, the two publicly- traded gun companies, recently reported a double-digit jump in sales. Smith & Wes- son said quarterly sales soared 40 percent, while Ruger said sales jumped 19 percent. Mass shootings in the last several years have helped drive gun sales. Gun buyers worry that every mass shooting will prompt more restrictive gun-control laws, and that's been the case in states like Connecticut, Colorado and Virginia. The political rhetoric of the 2016 presi- dential campaign has taken center stage in the gun industry. Ruger CEO Michael Fifer said recently that Hillary Clinton was "actively campaigning against the lawful commerce in arms." Clinton, if elected president, plans to expand background checks, restrict "mil- itary-style assault weapons," and hold gun dealers and manufacturers accountable for gun violence. She wants to repeal a law protecting the gun industry from lawsuits related to the misuse of guns. Every time a gun is purchased from a federally-licensed gun dealer, the dealer submits the buyer's personal informa- tion to the FBI, which runs it through the National Instant Criminal Back- ground Check System, or NICS. If the check reveals that the buyer is a felon, or has other criminal history red flags like domestic violence or drug use, then he or she is denied the gun. But most buyers pass the back- ground check. n six makerspaces — including one already in Hartford — stretch- ing from New London to Norwalk, and advo- cates say they could boost Connecticut's innovation economy and talent pool. Patton and Sis- itsky are working to open their mak- erspace at the Colt Armory complex, though they have not yet signed a lease. They're hoping to make a funding announcement for their proposed Mak- erSpace CT at a Nov. 17 maker conference they've helped orga- nize at the University of Hartford. The conference has booked Dale Dougherty, who founded MAKE: Magazine and licenses the "maker faire" brand to events around the country. The couple hopes the summit will build buzz for MakerSpace CT and also attract the attention of Connecticut officials and poten- tial sponsors/investors. Acquiring machinery and equipment for the space is expected to cost approximately $750,000, Patton said, and there would also be renovation and rent costs. They envision a makerspace with CNC machines, lathes, a sand-blasting booth, water-jet cutting machine, metal-fabrication area, design software and monitors, 3D print- ers and a variety of other equipment that could be used by hobbyists and professionals alike, for a monthly fee. They hope to eventu- ally amass 400 members. Several entities have offered potential financial support to MakerSpace CT, some of which will depend on securing matching donations. They include a private family foun- dation created earlier this year by Charter Communications CEO Thomas Rutledge and Tolland-based CNC Software Inc., maker of the manufacturing-design software, Mastercam. JCJ Architecture President Peter Stevens has also offered to help pull together a group of investors. Stevens said he believes the proposed makerspace fits into JCJ's com- mitment to making Coltsville a destination for mixed-use development. "Having Makerspace CT as part of Colts- ville would be a major community asset and be very fitting given the long history that the Coltville complex has had in providing inge- nuity to the region," Stevens said. The Rutledge Family Foundation, CNC Software and JCJ are all listed as sponsors of the New England Maker Summit, as are UHart, the Children's Museum in West Hart- ford and the Connecticut Center for Advanced Technology (CCAT) in East Hartford. An attempt to reach a representative of the Rutledge Family Foundation through a Charter spokesman was unsuccessful. Grand plans Though Patton has long been what many would consider to be a maker, he and his wife said they only became aware of the maker movement and makerspaces several years ago. Since then, they've incorporated and received nonprofit status for MakerSpace CT, and visited makerspaces and events in Cali- fornia, New York City and Pittsburgh. Should MakerSpace CT become a reality, Patton and Sisitsky said they aim to partner with schools and universities, create a skills program for military veterans, and offer a place for hobbyists, students, entrepreneurs and com- panies to test their ideas and learn new skills. Patton recalls being bored as a teenager in his high school classes, preferring hands-on activities like working on his truck. "I wish there had been maker stuff going on when I was a kid," Patton said. Many makers believe makerspaces can be a catalyst for getting young people interested in STEM (science, technology, engineering and math) learning. "We need to go from a mindset of con- spicuous consumption to one of creation and innovation," Sisitsky said. President Barack Obama seems to agree. His administration has lent its support to the maker movement, hosting annual maker events at the White House since 2014 and offering funding and support to makerspaces through the U.S. Small Business Administration and other agencies. In August, Patton was invited to a White House gathering of nearly 200 maker organi- zations from across the country, with discus- sions centered around how makers can pres- ent a more unified voice in Washington, D.C. Patton said a large makerspace could also serve as a feeder into CCAT's more advanced programs, which help manufacturers test new products and designs. Paul Striebel, CCAT's entrepreneurial ser- vices specialist, agreed a large makerspace could benefit CCAT and vice versa. "Any kind of major space would comple- ment what we do over here," Striebel said. Maker friction? MakerSpace CT wouldn't be the first mak- erspace in Hartford. The city has had a non- profit, volunteer-run makerspace since 2013, called MakeHartford. MakeHartford has an approximately 1,800-square-foot space on Arbor Street, and won a contract in 2015 from the state-funded CTNext program to provide entrepreneur- ial services, joining business incubators, coworking spaces, consultants and other entities around the state. It has approximate- ly 30 members, who take turns staffing the space most days of the week. Would a much larger makerspace less than three miles away be a problem for MakeHartford? The organization's co-founder Steve Yanicke said he is aware of the potential competition and has unsuccessfully tried to convince them to partner with his organiza- tion to grow it to a larger size. "We have similar visions and are working towards the same goal," Yanicke said. Yanicke said there may not be a need for MakeHartford to remain open if MakerSpace CT gets funded. "Whoever has the larger space with the most tools would be the best option for mem- bers and our community," Yanicke said. Asked about MakeHartford, Patton said he thinks it would be too difficult to grow out a smaller space. He and his wife are also attached to the historical significance the Colt building played in the Industrial Revolution, and see mod- ern-day parallels with the maker movement. Sisitsky said she hopes to speak more with MakeHartford about how they can work together. "We all want to do what's best for making in Hartford," she said. But the two entities may remain at odds. Each is participating in Hartford-centric talks about applying for a $5 million annual pool of funding from CTNext's Innovation Places program, created by the legislature earlier this summer. Innovation places are meant to be geo- graphic zones that support and draw entre- preneurs and talent. While much will be left to the interpretation of the applicants and the judgment of CTNext's board of directors, the hubs are meant to contain anchor institutions, companies and recreational spaces near start- up and growth businesses and public transit, with local zoning laws allowing for mixed-use development and the promotion of foot traffic. Numerous communities have been con- ducting similar talks and are expected to apply for a preliminary planning grant this month. "It will be competitive," said Glendowlyn Thames, director of CTNext and Connecti- cut Innovations' director of small business innovation. Those communities awarded initial fund- ing by CTNext will develop more detailed plans regarding ways they can work with area insti- tutions, nonprofits and companies to elevate their respective entrepreneurial ecosystems. Depending on the plans ultimately sub- mitted and selected, universities, incubators, makerspaces and other entities could receive funding next summer. n from page 1 Makerspace movement grows Bryan Patton shown at a maker fair last year held at Tunxis Community College in Farmington, where he organized an interactive coding demonstration. P H O T O | C O N T R I B U T E D P H O T O | C N N

Articles in this issue

Links on this page

Archives of this issue

view archives of Hartford Business Journal - September 12, 2016 — CFO of the Year Awards