Hartford Business Journal

www.HartfordBusiness.com • October 16, 2017 • Hartford Business Journal 5 FAA wants $13.6M fix to Pratt's turbofan engines The Federal Aviation Administration wants East Hartford jet-engine maker Pratt & Whitney to replace potentially unsafe cracked air seals in its turbofan engines installed in nearly 1,000 airplanes, repairs that would cost an estimated $13.6 million. The company says, however, that it already identified the issue last spring and is taking corrective steps, and that the potential action does not include its newest geared turbofan engines. The FAA published a proposed rule, or "airworthiness directive," in the Federal Register Oct. 12, which cites discovery of "multiple cracked ... turbine air seals" in Pratt's turbofan engines. The parts may be installed on as many as 991 airplanes, the FAA says, estimating the total cost to comply with the order at more than $13.6 million. The "airworthiness directive" is a legally enforceable order issued by the FAA in accordance with federal law to correct an unsafe condition in a product. If implemented, the corrective order would be mandatory, an FAA spokesman said via email. CT doctor group opposes ruling that rolls back contraceptive coverage Women's Health Connecticut (WHC), an Avon-based practice of 250 ObGyn providers, said it has grave concerns about the Trump administration's move to roll back the birth control mandate created under the Affordable Care Act, worrying that limiting access to free birth control may harm women and result in more unwanted pregnancies and elective abortions. WHC — which serves several hundred thousand women in Connecticut annually — said the new policy, effective immediately, allows any employer to deny contraceptive coverage based on religious or moral objection and reverses the requirement under the Affordable Care Act to provide FDA-approved contraception at no cost. WHC plans to appeal to state and federal legislators and will work to educate its patients and encourage those who share WHC's stance to speak up. "Connecticut's unwanted pregnancy rate has declined in recent years, particularly among teens," said Matthew Saidel, a practicing ObGyn and WHC's chief medical officer. "While we understand that some companies may have philosophical reasons for limiting access to affordable birth control, our group is collectively concerned that others may use this as a way to reduce their insurance costs, to the great detriment of so many of our patients." UTC hires first female president at Otis Farmington's United Technologies Corp. has named Judy Marks president of Otis, which makes elevators, escalators and moving walkways. Marks — the first woman to run any UTC business unit— joins the company from Siemens, where she served as CEO of Siemens USA and as CEO of Dresser-Rand, a Siemens business, a UTC spokesman said. Effective later this month, she replaces Philippe Delpeche, who had been in the post since 2015 and left the company in late July for another opportunity in Europe. Two vice presidents had temporarily served as interim presidents, the spokesman said. Marks will report to UTC CEO Greg Hayes and serve on the company's senior leadership team. East Hartford shopping outlets Nov. 2018 opening planned The developer of the Outlet Shoppes at Rentschler Field in East Hartford has set Nov. 2018 as the opening date for the project. Construction began Oct. 2, Horizon Group Properties CEO Gary Skoien said, with a grand opening scheduled just over a year from now. In early October, the city of East Hartford approved $16.9 million in tax breaks for the project. During Phase I of the center's grand opening, approximately 70 fashion and lifestyle retailers will open their doors in 282,000 square feet of space. There is also room for additional phases at the center, which encompass 140,000 square feet and could include an additional 35 stores, Skoien said. The shopping center is expected to generate $223 million in state sales tax over a 20-year period, and create about 1,400 direct and indirect jobs, according to an economic feasibility study conducted by The Concord Group and East Hartford Mayor Marcia LeClerc. W E B U I L D R E L AT I O N S H I P S W I T H O N E G O A L I N M I N D : YO U R S . When you work with Santander's commercial banking team, you can expect us to take the time to get to know you and your business. The better we know you, the better we can help you pursue opportunities and anticipate your needs. Whether you are looking to expand by acquisition or grow intrinsically, enter new markets or broaden your current markets, you can rely on our global and capital markets expertise and our international trade and treasury management solutions to help your business grow and become more valuable. Whatever your goals are, we're here to help you achieve them. To start a conversation about partnering with Santander Commercial Banking, call Paul Larsen, Market Manager at 1.203.252.9581. Bank deposit, transaction banking services, and lending products and services are provided by Santander Bank, National Association ("Santander Bank, N.A." or "Santander"), a Member FDIC. Services such as securities underwriting and securities sales and trading are provided by Santander Investment Securities Inc., a registered broker-dealer and member of FINRA and SIPC. This material does not constitute an o„ er to sell or a solicitation of an o„ er to buy any investment product. Important Investor Information: Brokerage products are: • Not FDIC Insure • Not Bank Guaranteed • Not A Deposit • Not Insured By Any Federal Government Agency • May Lose Value. Santander Bank, N.A. is a Member FDIC. ©2017 Santander Bank, N.A. All rights reserved. Santander, Santander Bank and the Flame Logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners. 80401_– 09/2017 Judy Marks, President, Otis Pratt & Whitney may have to do millions of dollars in repairs to its turbofan engines. PHOTO | CONTRIBUTED

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