Mainebiz

V O L . X X I V N O. V I M A R C H 1 9 , 2 0 1 8 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E room. Once it's up, the current offi ce building will be demolished in order to add parking. Co-op Manager Ron Trundy noted the 2017 lobster haul was down in some areas by as much as 20% and the 201 lobster season so far has been poor. "It doesn't necessar- ily mean it's the end of lobstering; let's see what this year brings," Trundy said. Although Maine's lobster landings in 2017 were the sixth highest on record at 110. million pounds, that tally rep- resents a 16% decline from 2016's 132.5 million landings total. e drop wasn't unexpected. Last summer lobster co- ops Downeast reported volume drops of 25% to 30% compared with 2016. A new study, by Michael Donihue, a pro- fessor of economics at Colby College, conducted in conjunction with the Maine Lobster Dealers' Association, puts the economic impact of the lob- ster supply chain at $1 billion. Ellsworth hospital posts $6.5 million loss Maine Coast Memorial Hospital in Ellsworth had an operating loss of $6.47 million for 2017. MCMH act- ing president John Ronan told the Ellsworth American that turning around the hospital's losses is about building up primary care. "We have to fi nd ways to see more patients on a given day," he said. For 2016, MCMH's loss was $6.35 million. MCMH is implementing a strategy for keeping patients at the local hospital, by increasing local access to specialists. Hancock County's other two hospitals, Mount Desert Island Hospital in Bar Harbor and Blue Hill Memorial Hospital are operating in the black. Blue Hill Memorial posted a $50,000 gain for FY 2017. Camden National opens N.H. loan of ce Camden National Bank, Maine's largest bank, said it has opened a loan offi ce in Portsmouth, N.H., building on its out-of-state footprint. e offi ce, which is at 210 Commerce Way, will serve as a hub for consumer and busi- ness loan production in southern New Hampshire. Camden National, which has $4.1 billion in assets, now has three locations outside of Maine, includ- ing Manchester, N.H., and Braintree, Mass. Camden National strength- ened its southern Maine business by acquiring e Bank of Maine in 2015 and opened its Manchester loan offi ce in 2014. "Building off of our success- ful Manchester, N.H., offi ce, opening a lending offi ce in Portsmouth is a • Commercial Contracts • Commercial Leases • Commercial Real Estate • Commercial Lending • Creditor Rights • Bankruptcy • Dispute Resolution • Employment Issues • Immigration Law • Patent/Copyright Law C O U N S E L O R S A T L A W 207.947.4501 www.rudmanwinchell.com A true strategic partner for your business CORPORATE AND BUSINESS LAW C O U N S E L O R S A T L A W Helping businesses succeed for over 100 years FEWER THAN 1 IN 5 CANDIDATES BECOME CFA ® CHARTERHOLDERS. DOES YOUR INVESTMENT ADVISER MEASURE UP? Your investment adviser holds your financial future in their hands. Who do you trust with that responsibility? Demand an investment adviser who has dedicated on average 1,000 hours of intense study to pass one of the most rigorous series of exams in the financial industry and who adheres to a strict ethical code. Demand the best. Demand a CFA charterholder. Find one at cfasociety.org/maine © 2018 CFA Institute. All rights reserved.

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