Commercial Record E-News


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Bowden Cases Kicked Up To Attorney General's Office
Tuesday, July 08, 2008 (492 reads)

The Connecticut Department of Consumer Protection has suspended all hearings presently under way involving Essex contractor Bowden Development, and will refer them to the state Attorney General's office.

Mansfield Joins Naugatuck Savings Bank
Tuesday, July 08, 2008 (156 reads)

Naugatuck Savings Bank has hired Sharon Mansfield as assistant vice president, commercial loan officer.

Property/Casualty Premiums Drop In June
Tuesday, July 08, 2008 (114 reads)

Nationwide, average property and casualty premium rates declined 11 percent in June, compared to a decline of 14 percent in June 2007, the largest year-on-year rate moderation in the last three years, according to Texas-based electronic insurance exchange MarketScout.

Pending U.S. Home Resales Drop 4.7 Percent In May
Tuesday, July 08, 2008 (126 reads)

Bloomberg News is reporting the national index of pending home resales fell 4.7 percent in May, the third month in the past four with a decline, according to the National Association of Realtors.

Fannie/Freddie Shares Bounce Back
Tuesday, July 08, 2008 (118 reads)

After plunging to their lowest levels since the early 1990s on Monday, shares of both Fannie Mae and Freddie Mac, the two largest providers of U.S. mortgage financing, rose this morning after their regulator said they should have adequate returns to raise capital.

Chase Family Chasing UBS Unit for Fraud
Monday, July 07, 2008 (452 reads)

A family of Connecticut real estate and telecom moguls is charging that financial services giant UBS played them for dupes, intentionally misleading them into investing $75 million in a form of securities that were supposed to be “as good as cash,” but which are now all but worthless.

Manchester Multifamily Property Sells For $42M
Monday, July 07, 2008 (221 reads)

Waterford Commons, a 303-unit luxury multifamily community in Manchester, has been sold for $42.775 million, or roughly $141,000 per unit.

Union Savings Adds Costa To Lender Ranks
Monday, July 07, 2008 (133 reads)

Danbury-based Union Savings Bank has promoted Teresa Costa to the position of small business lender.

Connecticut Banks Rate Well
Monday, July 07, 2008 (170 reads)

Connecticut is generally an "excellent" place to bank, according to a new report by Florida-based BauerFinancial.

U.S. Strip Mall Vacancies Hit Historic Highs
Monday, July 07, 2008 (337 reads)

U.S. store closings and cutbacks turned the second quarter into the worst in 30 years for strip mall owners, according to a report by real estate research firm Reis.