Hartford Business Journal

www.HartfordBusiness.com December 5, 2016 • Hartford Business Journal 7 WHAT'S AHEAD: ■ 12/12 Focus: Education ■ The List: Largest Community Colleges ■ Nonprofit Profile: Hartford Symphony Orchestra CALENDAR WEDNESDAY, DEC. 14 Middlesex Chamber Breakfast feat. Gov. Malloy The Middlesex Chamber of Commerce will host its monthly member's breakfast Dec. 14 at the Radisson Hotel Cromwell, 100 Berlin Road. The event, which runs from 7 a.m. to 9 a.m., will feature Gov. Dannel P. Malloy as the keynote speaker. Cost to attend is $22 for members, $32 for nonmembers. For more information or to register go to: http://middlesexchamber.com/ F O R A C O M P L E T E L I S T O F G R E A T E R H A R T F O R D B U S I N E S S E V E N T S , G O T O W W W . H A R T F O R D B U S I N E S S . C O M A N D C L I C K O N ' C A L E N D A R . ' A L L C A L E N D A R I T E M S M U S T B E S U B M I T T E D E L E C T R O N I C A L L Y V I A O U R W E B S I T E , H A R T F O R D B U S I N E S S . C O M . BANKING & FINANCE Wealthy CT presses Wells Fargo for changes Connecticut is flexing its fiduciary muscles as a retirement- fund manager to push Wells Fargo Bank into more investor trans- parency and accountability amid ongoing fallout from the banking giant's customer-accounts fiasco. State Treasurer Denise L. Nappier announced last week that her office, in partnership with three institutional investors with assets under management of $355 billion, has filed a shareholder resolu- tion at Wells Fargo calling for a change in the company's corporate bylaws to ensure an independent non-executive board chair. Meantime, Nappier said her office already has taken steps to penalize Wells Fargo for its actions, which she says affected some 11,000 Connecticut customers. Nappier is principal fiduciary of the $30 billion-asset Connecti- cut Retirement Plans and Trust Funds (CRPTF). Connecticut's financial relationship with Wells Fargo is broad, including investments, bond underwriting, brokerage and cash- management services. The state also has an equity stake in Wells Fargo. As of Nov. 25, the CRPTF held Wells Fargo stock and fixed income instruments valued at $125.1 million, Nappier said. Gov. Dannel P. Malloy UConn's Graduate Business Programs will challenge you to emerge much stronger than you were. " " Sophia Ononye '16 MBA UConn's graduate business programs offer you all of the skills and intelligence you need to distinguish yourself, allowing you to be more competitive, innovative, and successful, in life as well as in your career. UConn's Graduate Business Programs DISTINGUISH YOURSELF grad.business.uconn.edu AACSB Accredited since 1958 MBA PROGRAMS Full-time • Part-time • Executive SPECIALIZED MASTERS Accounting (Online) Business Analytics & Project Management Financial Risk Management Human Resource Management Customers meander around a Wells Fargo branch. P H O T O | C N N REAL ESTATE CT's Oct. housing permits down Connecticut communities issued fewer permits for new homes in October than the previous month and a year earlier, new data shows. The 104 cities and towns regularly sampled by the U.S. Census Bureau issued just 452 permits for single- and multi-family dwell- ings in October, down from 541 in September and lower than the 647 granted in Oct. 2015, the state Department of Economic and Community Development reports. Through the first 10 months of this year, statewide housing permits totaled 3,696 vs. 4,388 issued the same period in 2015. Bloomfield (408), Simsbury (249), Fairfield (242) and New Ha- ven (227) lead the state in housing permits issued through Octo- ber, data shows. MANUFACTURING Manchester's Lydall acquiring overseas company for $58M Manchester-based Lydall Inc. is acquiring the overseas firm MGF Gutsche GmbH & Co. for approximately $58 million in cash, the industrial filtration company announced. The agreement to purchase Gutsche, a transaction expected to close at year's end, positions Lydall as "a global leader" in the needle punch nonwoven filtration market and strengthens its po- sition as a provider of engineered technical materials, Lydall said. Gutsche's nonwoven needle punch material business operates in Germany and China. Lydall plans to maintain a manufacturing presence in the UK, Europe and China, and increase efficiencies through restructuring, the company said.

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