Trade show to spotlight jewelry makers

The third annual MJSA Trade Show for Jewelry Making is to be held Sept. 17-18 at the Rhode Island Convention Center in Providence. It will feature a mix of vendors offering a range of tools, components, supplies and services for jewelry makers and designers of all types. It will also offer free educational seminars by some of the jewelry industry’s top presenters.

Narragansett Bay Insurance hires Talerico

Pawtucket-based Narragansett Bay Insurance Co. has announced the addition of Mark Talerico as chief risk officer. Overseeing the distribution of risk in homeowners insurance, he will guide the company’s exposure management. Prior to joining Narragansett Bay, Talerico was senior vice president for portfolio management for Guy Carpenter LLC, the world’s largest reinsurance broker. A certified public accountant and chartered financial analyst, he has a master’s of business administration in finance and investment analysis from George Washington University and is a graduate of Towson University, with a degree in accounting.

Maine mussel farm closing

Great Eastern Mussel Farms in St. George, Maine, has announced it is shutting down its business and laying off 40 full-time employees. Great Eastern, located in Tenants Harbor in midcoast Maine, was a pioneer in mussel cultivation when it was founded 30 years ago. The Portland Press Herald newspaper reported that the company cited competition from Canadian mussel farms, regulatory obstacles and rising energy costs as contributing to the its demise.

Conn. ends budget year in the black

Connecticut Gov. M. Jodi Rell said Monday that her cost-cutting efforts are working and there is now a small surplus from the fiscal year that ended June 30. Rell said she wants the leftover money, about $22 million, to be used to provide emergency heating assistance to help needy residents this winter, especially the elderly. She said she will be calling state lawmakers back to the capitol for a special session in a few weeks. In May, Rell’s budget office predicted the 2007-08 fiscal year would end with a $60-million deficit because of slowing state revenues. Since then, she has imposed an out-of-state travel ban for state employees, a hiring freeze and a hold on state purchasing. Income tax collections also unexpectedly improved and income tax refunds were lower than expected, according to her office.

Maine governor announces surpluses

Maine’s general fund and highway budget both finished the fiscal year with modest surpluses, but Gov. John Baldacci warned Monday that high energy prices and a sagging economy “could further erode revenues” in the coming year. State officials announced a general fund surplus of $56 million and a highway fund surplus of $2.5 million for the year that ended June 30. “The year-end surplus is the result of a disciplined budget approach,” Baldacci said. “Maine faced a grim economic picture earlier this year that required the state to make many difficult decisions. That hard work has allowed us to finish the year in a good position.” After accounting adjustments, the state will deposit $10 million into the so-called rainy day fund, which will total $128.9 million. The state has total reserves of about $169.5 million between the rainy day fund and the separate working capital fund, said Baldacci.

Amtrak Portland-to-Boston run adds riders

Soaring gas prices played a role in a 28-percent gain in ridership for Amtrak’s Downeaster during the latest fiscal year, and operators of the Portland, Maine-to-Boston service are looking at options to accommodate future growth, officials said Monday. The ridership gain was the biggest of any Amtrak train in the period ending June 30, and revenue for the month of June set an all-time record of more than $590,000, said Patricia Quinn, executive director of the Northern New England Passenger Rail Authority.

Financial adviser makes top 10 list

Waltham, Mass.-based Ballentine Finn & Co., an independent wealth-management firm, is the ninth fastest-growing firm in the $1-billion and over asset category, according to Financial Advisor’s 2008 Registered Investment Advisor list. The company’s assets under management grew by more than 30 percent, versus the list average of 18 percent, and total nearly $2 billion for last year. Ballentine Finn, the only Northeastern firm included in the top 10, placed ninth overall in assets per client, an increase of close to 13 percent year-over-year.

Green Mountain Coffee to join river cleanup

Green Mountain Coffee Roasters of Waterbury, Vt., has again joined a nationwide effort to keep America’s waterways clean. As a sponsor of the National River Cleanup 2008, the company will give employees paid time off to clean a section of Vermont’s Winooski River from July 28 through Aug. 1. Company volunteers will pick up litter in and around the Winooski, from above the Middlesex Dam to Waterbury.

Vt. lake’s weeds to be tested as power source

A group working to protect Lake Champlain in Vermont is testing whether nuisance weeds and algae taken from the lake can be used to help make electricity. The Lake Champlain Restoration Association is planning to haul tons of the unwanted lake vegetation inland, to a farm that uses methane from manure to make electricity. The group uses a harvester to clear the weeds and give boaters access to deeper water. Last week, the Central Vermont Public Service Corporation awarded $10,000 to the association to haul the vegetation to the Blue Spruce Farm in Bridport and monitor its viability as a power source. Experts will study whether the costs of transportation and other factors are met by the amount of power generated by burning the vegetation.

Restrictions in place on Conn. River bridge

Heavy trucks are going to be banned from the U.S. Route 4 bridge over the Connecticut River between White River Junction, Vt., and Lebanon, N.H. Officials say inspectors have found significant corrosion on the bridge. Starting Monday, alternating one-way traffic was implemented. More restrictions are possible. The bridge was built in 1936, rebuilt in 1976 and is scheduled to be replaced in 2010. The bridge is on New Hampshire’s “Red List,” which requires frequent inspections because of known deficiencies.

Communications company to continue hiring

FairPoint Communications said Friday it has met its hiring goal of 280 new workers in Maine, and the company expects that figure to grow by year’s end. FairPoint, which completed its purchase of Verizon’s wired telephone lines and high-speed Internet service in northern New England on March 31, originally said it would hire 125 workers apiece in Portland and in Bangor, with another 30 jobs scattered across the state. But the company now says the total number will climb to approximately 400 as the hiring process continues through the year. The announcement was made during a news conference by FairPoint and Gov. John Baldacci in Bangor, where nearly 40 jobs have been added to FairPoint’s call center and finance department.