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Sovereign CEO Gets Golden Parachute For Leaden Results
Thursday, October 02, 2008 (471 reads)
Sovereign Bank, with executive offices in Boston, is paying its ousted CEO Joseph Campanelli, a Hartford native, at least $7.8 million in guaranteed severance pay, plus a bonus. Not bad for an executive who has seen his company’s share price tumble from a high of $26.36 in February 2007 to just above $5 today.
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Middletown Apartments Sold For $75M
Thursday, October 02, 2008 (199 reads)
Chestnut Hill Apartments and Northwoods Apartments, two Class A apartment developments in Middletown totaling 650 units, have been sold for $75 million.
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That’s A Whole Lotta Hooch
Thursday, October 02, 2008 (183 reads)
The 10,711-square-foot building at 188 Boston Post Road in Madison has been fully leased and will become “the shoreline’s largest fine wine and liquor store,” according to the broker.
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VP Train Keeps Rolling At Liberty
Thursday, October 02, 2008 (256 reads)
Middletown-based Liberty Bank has appointed five more vice presidents, adding to the three vice presidential appointments reported yesterday.
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Conn. Home Sales, Prices Slide In August
Thursday, October 02, 2008 (646 reads)
Sales of single-family homes and condominiums in Connecticut plummeted by more than 30 percent in August compared to a year earlier, according to a new report from The Warren Group, publisher of the Commercial Record.
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Phoenix Officially Re-Brands As Virtus
Wednesday, October 01, 2008 (153 reads)
Phoenix Investment Partners has officially changed its name to Virtus Investment Partners, effective today, the final step in the firm’s spin-off from parent The Phoenix Cos. of Hartford.
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