Hartford Business Journal Special Editions

HBJ 25th Anniversary — October 2, 2017

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OCTOBER 2, 2017 • HARTFORD BUSINESS JOURNAL | 37 1992 Hartford Business Journal debuts with its Nov. 2 edition. The Hispanic Chamber of Commerce debuts. Sage-Allen files for Chapter 11 bankruptcy in November. 1993 G. Fox Closes its doors on Jan. 22, after 146 years. Sage-Allen announces it will close its stores as of May 2. About 500 employees were given 60-day notice. Hartford city council approves domestic partnerships effective July 1. Officials from the state, city, and Hartford Whalers announce an agreement on a deal that will keep the hockey team in the city for 20 years. It didn't hold. Travelers Corp. and Primerica Corp. merge to form The Travelers Inc. 1995 Heublien closes its Hartford distillery, eliminating 250 manufacturing jobs, due to a decline in national alcohol consumption. Hartford's Coyotes and Hellcats go up for sale. The CDA, AFL and CBA are looking for new ownership of the two teams. Both teams eventually ceased operations. The Fleet-Shawmut banking deal makes Fleet New England's largest bank, leaves Fleet's Constitution Plaza home vacant, plus slams Hartford and Connecticut's already sagging morale. The New Britain Herald is sold to Trenton, N.J.-based Journal Register Co., ending the 108-year-long reign of the Vance-Weld-Brown family's four generations. The Rehabilitation Hospital of Connecticut dedicates a 60-bed facility as a joint project of St. Francis Hospital & Medical Center and Mount Sinai Hospital. Hartford-based Connecticut Mutual Life Insurance Co. merges with Springfield's Massachusetts Mutual Life Insurance Co. to form the nation's fifth-largest life insurer. Carnival Air Lines comes to Bradley International with flights that connect through the airline's Fort Lauderdale hub to Caribbean destinations. The Aetna Life & Casualty Company sold its property-casualty business to The Travelers Group for $4 billion. 1996 Westfarms Mall undergoes a $100 million renovation that includes construction of a 590-car parking deck and a new 311,000-square- foot wing to accommodate 50 new specialty stores. Aetna Life & Casualty Co. announces plans to buy U.S. Healthcare Inc. based in Blue Bell, Penn., with cash and stocks — a move that would create the nation's largest managed- care company. The deal is valued at $8.9 billion. One of Hartford's oldest law firms — Schatz & Schatz, Ribicoff & Katkin — closes, its strength sapped by the capital area's tepid economy and the recent defection of key money- making partners. United Parcel Service announces it will replace its existing facility at Bradley International with 230,000 square feet of sorting area. UPS invested $41 million in the Hartford area and hired an additional 250 employees. Hartford lands the presidential debate between Bill Clinton and Bob Dole, despite just about everyone's disbelief in Daniel Papermaster's quest. The Bushnell was the site for the first event like this to be broadcast nationally from New England. Trinity College President Evan Dobelle is HBJ's Person of the Year for his desire to connect the 173-year- old liberal arts college and its future to the blighted neighborhood around it. The Hartford Business Journal grows — from a bi-weekly publication — to a weekly format. 1994 Despite an offer of $180 million from novelist Tom Clancy and The CT Group, Patriots owner James Orthwein sells the NFL Patriots to Robert Kraft, a Bostonian who owns Foxboro Stadium, for $155 million. Gov. Lowell Weicker signs a deal with the Mohegan tribe of Montville to open a casino. The Mashantucket Pequot Tribe, owners of Foxwoods, agree to a special exception to their rights to allow another casino to use slot machines in Connecticut. The Travelers Insurance Cos. and Metropolitan Life Insurance Co. agreed to merge their health insurance businesses, creating a giant in the managed-care business with 13 million customers. State Banking Commissioner Ralph Shulansky shuts down the Bank of Hartford, which was buried in debt it had assumed from two failing sister banks. Eagle Federal Savings Bank bought the Bank of Hartford's assets. The University Club in Hartford announces it will close due to rising debt and decreasing membership. The club opened in 1907 as a private club for those who graduated from certain colleges. The Hartford Sports & Entertainment Group purchased the Cincinnati Rockers, giving Hartford an Arena Football League team. Hartford's Clarion Hotel closes, citing low occupancy and financial difficulties. The Clarion was only open 15 months. New Britain's board of alderman approves a $10.3 million bonding package to build a new baseball stadium as part of a deal with owner Joe Buzas to keep the Red Sox farm team in town. The Coopers and Lybrand accounting firm sets up its national corporate training site in Hartford.

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