Chris Bosak
The News-Times
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Past articles by Chris:
Fitch: Slow growth hampering tax base of state’s cities
Growth in Connecticut's cities has lagged that of cities in other states, further stressing tax bases and revenues, according to a recent study by Fitch Ratings. A sample of 24 Connecticut cities shows a compound annual growth rate of less than 2 percent over the last 12 years. The lack of growth puts added tax burden on existing properties, the study shows. "I'm surprised in that I thought we'd… → Read More
Purdy receives Heart of Women award
Fairfield and Westchester counties may be among the richest in the country, but not everyone shares the wealth. "Right in the middle of these affluent communities there are people going hungry," Kathy Purdy, founder and executive director of Hillside Food Outreach, said. "There are people who go to bed hungry and wonder how they are going to make it through the next day." For her dedication to… → Read More
Suit accuses bank of unauthorized withdrawal
A Shelton-based technology company has filed a lawsuit against Newtown Savings Bank, saying it allowed for a fraudulent wire transfer that cost the company $67,560. Precision Computer Services filed the suit in July in Superior Court. The lawsuit states the bank missed "numerous red flags" and wired money from PCS's account to a bank account in Hungary. PCS said Newtown Savings Bank refuses to… → Read More
Juddy’s Place Sports Bar opens on Route 7
The "Coming in June" sign has been changed to "Now Open" for Juddy's Place Sports Bar and Cafe. The 2,200-square-foot establishment featuring a 40-foot-long black walnut bar and spacious patio area is open for business at 66 Sugar Hollow Road in Danbury near the Ridgefield line. Since this spring, drivers along Route 7 have seen the sign promising a June opening. The wait is over as Juddy's… → Read More
Transitions: New diner coming to Brookfield
121 Federal Road: Frankie's Diner is coming to Brookfield at the former location of Five Guys, which left that spot in late 2017 only to open a new restaurant across the street in the Kohl's Plaza. Prior to Five Guys, the stand-alone building was the Red Colony Diner. Have a question about a business or property in the region? Email Chris Bosak at cbosak@hearstmediact.com or call 203-731-3338. → Read More
Odyssey buys AFF for its largest acquisition yet
Odyssey Logistics & Technology Corp. has entered into an agreement to acquire AFF Global Logistics, marking Odyssey's largest acquisition to date. Odyssey is a Danbury-based transportation and logistics company. The acquisition of AFF will add 600 employees, bringing Odyssey's global workforce to more than 2,400. AFF is a third-party logistics provider and freight operator. It is based in Fife,… → Read More
Praxair-Linde merger clears final hurdle
The on-again, off-again and long-awaited merger between Danbury-based Praxair and Linde AG gained its final regulatory approval on Monday and the transaction creating the world's largest industrial gas company is expected to close by the end of the month. The deal will create a merger of equals with the companies having equal representation on the board of directors. Steve Angel, current CEO of… → Read More
Summit Development ready to tackle the Matrix challenge
Felix Charney knows he has a big task ahead of him - a 100-acre, 1.2 million-square-foot task, to be specific. Summit Development last week closed on the purchase of the former Union Carbide headquarters, most recently known as Matrix Corporate Center, in west Danbury. Charney, the principal at Summit, purchased the building and property out of foreclosure and has plans to renovate the building… → Read More
Experts say Sears warranties are solid; use gift cards now
Now that Sears and Kmart have closed more than half of their stores over the last five years and the formerly dominant retail giant has officially filed for bankruptcy, customers are left wondering what will happen to gift cards and warranties from the stores. Gift cards are still being honored, but experts advise consumers to use them as soon as possible. An attorney for Consumer Reports warned… → Read More
Connecticut sheds 500 jobs in September
Connecticut's accelerating job growth hit a speed bump as it lost 500 jobs in September, according to a report issued Thursday by the state's Department of Labor. August's initial report of 1,100 jobs gained was revised to an increase of 3,300, which tempers the loss of jobs reported in September. For the year, Connecticut has added 19,900 jobs. The state's unemployment rate fell one-tenth of a… → Read More
Report: Consumer confidence continues to bolster retail
The holiday retail season looks to be another bright one as the National Retail Federation expects an increase in sales of between 4.3 and 4.8 percent over last year, which was significantly stronger than 2016. "Our forecast reflects the overall strength of the industry," Matthew Shay, National Retail Federation president and CEO, said in a report. "Thanks to a healthy economy and strong… → Read More
Southport developer closes on The Matrix; will make it mixed-use complex
Summit Development announced Wednesday that it closed on the purchase of the Matrix Corporate Center, the former Union Carbide headquarters property, in Danbury for $17 million. The Southport-based developer will rename the building The Ridge and convert the 1.2-million square foot complex into a mixed-used development with office, retail and residential. The 100-acre site will be zoned to… → Read More
Owner says Christian book store fills void in Danbury
Carla Pierce missed Morning Star Christian Book and Music Store so much that she decided to open her own Christian book store to fill the void left in Danbury. Pierce, a longtime Danbury resident, opened Beautiful News Christian Books and Gifts on 24 Rowan St. Ext., across the street from Henry Abbott Technical High School, in August. "It's more than a business for me. It's filling a void and… → Read More
Transitions: Wendy’s opening soon in New Milford
132-134 Danbury Road, New Milford: Wendy's will open soon on Route 7 in the lot where Arby's was previously located. Wendy's has about 50 locations in Connecticut and nearly 7,000 worldwide. This Wendy's will be owned and operated by Grand Rapids, Mich.-based Meritage Hospitality Group, which owns hundreds of Wendy's locations in the U.S. Have a question about a business or property in the… → Read More
Moda Brazil adds flair to downtown Danbury
The time was right for Elisangela de Carvalho to jump back into business ownership. After working for years as a house cleaner, de Carvalho in May opened Moda Brazil by Elis'Angela, a boutique clothing store with women's fashions from Brazil at 13 West St. in downtown Danbury. She had previously owned a similar store in her native Brazil. "It was time to change and I've done this before. I've… → Read More
Cybersecurity a growing field as criminals get creative
Whether their target is a customer at a gas station, a retail chain, a large corporation or even a major credit bureau, cybercriminals are hard at work stealing money and information. Cybercriminals will steal more than $1.5 trillion in 2018 with the most successful thieves earning upwards of $2 million. Combatting these cybercrimes has become big business, as well, with global spending on… → Read More
Ridgefield Chamber of Commerce welcomes new leadership
Kim Bova has been an entrepreneur as well as the leader of nonprofit organizations, giving her a unique perspective as she takes over as executive director of the Ridgefield Chamber of Commerce. "I was an entrepreneur for 10 years before moving to Ridgefield, so I know what it's like to be a small-business owner and wear all those hats," said the nine-year Ridgefield resident. "I'm incredibly… → Read More
Library to hold business workshops this fall
A series of business workshops coming up in Danbury will cover topics such as project management, podcasting and operating a restaurant. The Danbury Library, SCORE of Western Connecticut and Berkshire Broadcasting have partnered to provide entrepreneurs and small-business owners the workshops, which will take place over the next three months. All events are free and will be held at the Danbury… → Read More
Duracell sues Bethel over property assessment
Bethel has hired special counsel to represent the town in an assessment lawsuit filed by Duracell U.S. Operations, which owns property in the Berkshire Corporate Park. Berkshire Hathaway-owned Duracell filed the suit earlier this year after disputing the fair market and assessed values of the property and having an appeal denied by Bethel. The fair market value of the property at 14 Research… → Read More
Millennials starting to impact Fairfield County’s office market
As millennials age, start families and move to the suburbs, Fairfield County's commercial real estate market will evolve with the generation, some commercial real estate brokers say. "Young families will drive companies to come out here. It's a war for talent out there," Jim Fagan, Cushman & Wakefield's managing principal for the Connecticut and Westchester markets, said. "As they move, the… → Read More