Hartford Business Journal

www.HartfordBusiness.com • September 4, 2017 • Hartford Business Journal 5 CT businesses pledge support to Houston storm relief Connecticut businesses last week stepped up and donated funds and support for disaster relief to the storm-plagued state of Texas. Health insurers Aetna, Cigna and UnitedHealthcare said they would provide resources for members. Aetna also is offering certain types of assistance for non-members. UnitedHealthcare and its subsidiaries also pledge to donate $1 million to the relief effort. In addition, New Britain tool maker Stanley Black & Decker is committing up to $125,000 for disaster relief. And Avangrid, an energy and utility company in Orange, announced a $50,000 contribution to American Red Cross Disaster Relief through the Avangrid Foundation that will help the Red Cross provide food, emergency shelter, relief supplies and comfort to those affected by disasters like Hurricane Harvey and countless other crises. Stanley has more than 650 employees across the state of Texas, and about 200 in the Houston area hardest hit by Hurricane Harvey, which has devolved into a persistent tropical storm, said Stanley CEO Jim Loree. Loree said the company will donate $50,000 to the American Red Cross and $25,000 to the Houston ToolBank, as well as double its employee matching gifts program (matching employee gifts $2 for every $1 raised) to encourage its employees to quickly generate an additional $50,000. Stanley also will donate a set of Dewalt, Stanley and Black+Decker tools and storage systems to the Houston ToolBank. "We are committed to assisting those working to provide immediate relief today, and we are committed to working within the community to assist in the rebuilding efforts over time," Loree said. DeFronzo named to CT Lottery leadership post Former state lawmaker Donald J. DeFronzo of New Britain is the new chair of the embattled Connecticut Lottery Corp. Gov. Dannel P. Malloy announced DeFronzo's appointment to lead the quasi-public agency's 13-member board. He succeeds Frank Farricker, who had been chairman and interim president and CEO until he resigned in May. The agency is recovering from a cheating scandal involving some lotto ticket retailers, and a flap over a severance package for a former CEO. "I look forward to working with the employees and board members of the Connecticut Lottery Corporation to restore stability, confidence, and trust in the system," DeFronzo said in joint statement with the governor. Municipalities 'credit negative' after Malloy revises executive order Moody's Investor Services said that Gov. Dannel P. Malloy's executive order reducing municipal aid for cities and towns is "credit negative" for local governments. On Aug. 18, still lacking a state budget, Malloy revised his executive order to keep government operating by shifting funding for school systems and nonprofits. The plan maintains education funds for the neediest school districts, but reduces aid to 54 districts and eliminates aid entirely from 85 school districts. Moody's analyst Joseph Manoleas said the reason for the credit negative declaration is that Malloy's revision reduces total aid to municipalities by $928 million, or 38 percent, from 2017 funding levels and approximately $244 million relative to the governor's June 26 order. Moody's says its declaration of "credit negative" does not connote a rating or outlook change, but rather is an indicator of the impact Malloy's action will have as one of many credit factors affecting the state. CBIA: CT Inc. sours on growth prospects As concerns grow over the state's budget stalemate, fewer Connecticut businesses expect growth, according to the latest CBIA Economic and Credit Availability Survey. With 127 business leaders responding, the second quarter survey found that just 29 percent of them have a positive outlook for their firm — down from 37 percent in the first quarter. Fifty-seven percent expect stable conditions, however, (up from 47 percent in the last quarter), while 14 percent had a negative outlook. Fewer businesses plan to increase their workforce (23 percent compared to 26 percent in the first quarter). CBIA Health Connections – Connecticut's leading small business insurance program – offers you the best combination of value, service, and choice in a single program. It's easy to administer and backed by industry-leading customer service. Medical plans from ConnectiCare and Harvard Pilgrim Group and voluntary dental, life, disability, and vision options Employee wellness program One bill; one number to call for personal service Join the thousands of Connecticut small businesses who choose CBIA Health Connections. Contact your agent for a quote or visit cbia.com. Why do Connecticut small businesses choose CBIA Health Connections for insurance? cbia.com/insurance | 860.244.1900 Savings, Simplicity, and Service Flood waters swelled the streets of Houston, forcing many to flee to safer grounds. PHOTO | CNN Donald J. DeFronzo

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