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Archive for May, 2012

Company creates Connecticut finance jobs

Tuesday, May 29th, 2012

Altus Capital has created new Connecticut finance jobs.

The private equity investment firm focused on niche middle market manufacturing companies has appointed Dale Cheney as a Principal in the firm.

The firm said Cheney will be focused on sourcing and closing new investments and working with Altus’ three partners in managing its existing portfolio.

The company has made a geographical move as well. Altus has relocated its Connecticut office to Wilton Woods Corporate Campus in Wilton, CT.

According to his bio, Cheney joins Altus from Citicorp Venture Capital (“CVC”) and its successor fund, where he was a Principal. Prior to CVC, Mr. Cheney was an Investment Banking Associate in leveraged finance at Goldman, Sachs & Co. and, earlier, a Transaction Services Senior Associate in the Private Equity Group at PricewaterhouseCoopers.

“Our new offices in Connecticut will accommodate the need for additional space, now and in the foreseeable future. As we move ahead to invest our new fund and continue to target investment opportunities in the middle market manufacturing space, we will continue to support our portfolio companies and create shareholder value by selectively hiring highly qualified investment professionals.”

“We are pleased to have an experienced professional like Dale join our Altus team to contribute to our success as a leading investor in the middle market manufacturing space,” said Elizabeth Burgess, Senior Partner of Altus. “Dale will play a key role in cultivating and driving new deal transactions while providing strong support to our portfolio.”

Connecticut retail jobs could increase

Sunday, May 20th, 2012

Job creation is picking up, especially in Connecticut, where retail jobs might increase.

There is a swell in seasonal hiring, according to a new survey from Careerbuilder.

The annual Summer Job Forecast found that three in 10 (29%) U.S. employers plan to hire workers for the summer, up from 21% in 2011 and an average of 22 percent over the past four years.

Employers in the following industries are expected to lead seasonal hiring:

Manufacturing: 45%(plan to add summer workers)
Hospitality: 44%
Retail: 34%
Finance: 31%

Seventy-one percent of employers hiring this summer said they’ll be considering some hires for permanent positions. And 39% of employers said they’re less likely to hire someone who isn’t interested in working beyond summer.

A majority (64%) of employers will pay their summer hires $10 or more per hour – up from 58 percent last year. Twenty percent will pay more than $16 per hour; 29% will pay $8 to $10.

While 42% of employers report that they typically complete their summer hiring by April, 38 percent complete it in May and 19% will hire in June and beyond.

“Confidence is up among the employers we most closely associate with summer hiring,” says Brent Rasmussen, president of CareerBuilder North America. “This is good news for job seekers, as seasonal work can often lead to full-time opportunities. A majority of employers told us they consider a summer position an extended job interview. The forecast is also a strong indicator that the job market will continue to strengthen as we come closer to the second half of 2012.”

BBB discusses construction jobs on Connecticut

Tuesday, May 15th, 2012

To warn consumers about potential scams, the BBB of Connecticut is providing advice about hiring for construction jobs in Connecticut, especially when it comes to hiring a contractor.

In 2011, BBB received more than 6,000 complaints against general contractors, an 11% increase over the previous year.

“Be especially wary of doing business with a contractor who solicits business door-to-door,” warns Connecticut Better Business Bureau President, Paulette Scarpetti.

“This could mean that the contractor is not from a local, established business and is instead just passing through and trying to scam innocent consumers.”

BBB advises consumers to follow this checklist before choosing a home contractor:

Be picky and have lots of options – Seek at least three bids from prospective contractors based on the same specifications, materials and labor needed to complete the project. Homeowners should discuss bids in detail with each contractor and ask questions about variations in pricing. The lowest-priced contractor may not be the best.

Make sure they are certified and insured – Consumers should ask whether the company is insured against claims covering workers’ compensation, property damage and personal liability in case of accidents. Obtain the name of the insurance carrier and call to verify coverage. Ask whether the contractor meets licensing and bonding requirements set by the state, county or city. Check with local authorities to find out whether permits are needed before proceeding with the work. The contractor also should be aware of any required permits.

Get everything in writing – Ask whether the contractor will provide a lien waiver upon completion of the job. A lien waiver is a statement by the contractor that all suppliers and subcontractors have been paid for their work. Read and make sure you understand the contract before signing. Get all verbal promises in writing, in addition to start and completion dates.

Follow the “Rule of Thirds” – A reasonable payment schedule would stipulate paying one third as a deposit, one third when work is half finished and one third after completion.

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