Business
Business Digest
01:00 AM EDT on Saturday, April 5, 2008
Reusable bottle filters tap water
Medport, LLC, of Providence, the parent company of Fit & Fresh, a consumer brand of healthy living products, has introduced the first filtered water bottle tested and certified by the Water Quality Association. The new LivPURE Filtered Water Bottle is described as the solution to the much-debated environmental issues of water bottle waste and contaminants. The bottle uses a proprietary two-stage filtration system that has been WQA tested and certified for the reduction of aesthetic chlorine, taste and odor. The company says the filter makes ordinary tap water taste more like bottled water, but does not produce environmental waste and costs only a fraction of the expense per use. The company also produces a line of storage containers that come with removable ice packs.
Connecticut to sell pension bonds
Connecticut has scheduled the sale of $2 billion in pension bonds for this month, hoping to invest the proceeds and earn more than it pays bondholders. The state will let individual investors bid on the taxable bonds next week, according to Sarah Sanders, Connecticut’s assistant treasurer for debt management. The following week it will sell the remaining bonds to institutions, she said. Proceeds will be used to help cover a $6.9-billion unfunded liability in the state’s teacher retirement system. The treasurer’s office anticipates earning an average 8.5 percent a year investing the proceeds, which is higher than the interest rate it expects to pay to the holders of the debt maturing in 2032, Sanders said. Standard & Poor’s and Fitch Ratings rank the pension bonds AA, two levels below AAA.
Maine Port Authority to run container port
The Maine Port Authority plans to take over Portland’s International Marine Terminal cargo and container operations with the city’s blessing. City Manager Joseph Gray says Portland wants to transfer management of the International Marine Terminal because it cannot afford $8 million to $10 million in repairs. And the state is willing to assume Portland’s cargo operation because it benefits industries across Maine, said John Henshaw, executive director of the port authority. The talk of turning the terminal over to the state comes during a period of growth for Maine’s only cargo container facility. The number of cargo containers moving through Portland grew 84 percent last year, from 2,218 in 2006 to 4,077, said Jeffrey Monroe, Portland’s transportation director.
Dominion Diagnostics launches Web site
North Kingstown-based Dominion Diagnostics, LLC, a provider of clinical urine drug testing, medication monitoring and support services nationwide, has announced a new Web site, www.dominiondiagnostics.com, operational as of March 21. The launch is part of the company’s strategy to provide laboratory and customer services and create a centralized location of information and resources for the health-care community. The site provides information about the company’s history and mission, its comprehensive laboratory and customer services, relevant news and resources, frequently asked questions and multiple points of contact within the company’s staff. Additionally, it provides links to other relevant medical organizations.
UNH, faculty union to vote on contract
The University of New Hampshire and its faculty union have tentatively agreed on a contract, ending nearly two years of negotiations. Few details will be released before both sides vote, but the proposal calls for annual, across-the-board salary increases totaling 14.5 percent over the three-year contract and new salary minimums for each faculty rank. The two sides also agreed on increases in faculty medical benefits premiums and copayments, as well as how to ease the transition to those higher costs. The proposal covers July 2006 to July 2009. The board of trustees and faculty union are expected to vote on the contract this month.
N.H. law targets shoreline building
A law tightening the rules for developing shorefront property in New Hampshire has taken effect, although there is some discussion about trying to delay it. Passed last year, the law requires a state permit for any changes within 250 feet of shorelines. Rules for activities including cutting shrubs and trees get stricter the closer you get to the water. The law also raised permit fees to help pay for additional state employees to enforce the tougher rules. Some builders say the law is too strict, and it should be delayed until after the summer building season.
Rell seeks compromise on billboards
Connecticut Gov. M. Jodi Rell, who has called for removing billboards on state-owned property, says she’s working with state lawmakers on a possible compromise that would limit outdoor advertising. One idea, she said, might be to phase the ads out over time. The Republican governor surprised the billboard industry and the Democrat-controlled legislature in February when she issued an executive order that ended any new contracts for the 120 billboard spaces on state-owned property. Across Connecticut, there are about 1,200 billboard spaces. Also, her order stopped existing contracts from being renewed. Rell has said the boards are unsightly and a distraction to motorists. Rell submitted legislation that coincided with the order and stopped permits for digital billboards, but the legislature’s Transportation Committee gutted the bill this month, reversing her order and creating a task force to look into the issue. Lawmakers said they were concerned about the adverse financial effect that Rell’s order would have on the billboard industry and the businesses that rent space.
New Hampshire maple syrup cost at new high
The New Hampshire Agriculture Department says syrup is selling for $45 a gallon, an all-time high, and blames the price on dramatic hikes in fuel costs and supplies. The New Hampshire Maple Producers Association says the price per gallon was $39 last year and $38.20 per gallon in 2006. Maine syrup producers have said they, too, expect syrup prices to be high. Maine, which is the number-two syrup-producing state behind Vermont, last year produced 225,000 gallons.
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