An application for a permit to demolish the house at Westport’s 61 Bermuda Road, in the Saugatuck Shores area, is in process. The address has recently been re-designated as No. 57. Built in 1975, the two-story contemporary has 2,600 square feet, is situated on a .56-acre property and changed ownership in August 2010 for $1.5 million. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
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Bridgewater to Outsource Back Office Operations
Westport First Selectman Gordon Joseloff announced today that Bridgewater Associates, Westport’s largest private employer and the world’s largest hedge fund, has informed the town it intends to outsource some back office operations to The Bank of New York Mellon Corporation (BNY Mellon).
He said the company notified the town as required by law that 91 employees at 355 Riverside Ave. will terminate their employment with Bridgewater and all will be offered continued employment at BNY Mellon at the same location.
Bridgewater said in a letter dated Sept. 26 that the employees will terminate their employment with the company commencing Nov. 28 with BNY Mellon assuming back office operations on Dec. 2.
The letter said “although final agreements have not yet been signed, the business decision has been made to permanently outsource” the operations.
Theory Reopens After Irene
Theory, the women’s contemporary fashion apparel shop, has reopened its doors at Westport’s 89 Main St. The shop was closed since the flooding caused by Tropical Storm Irene in late August. The New York-based organization has 20 shops throughout the United States located mainly on the East and West Coasts. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Westport Inn Debuts Multimillion Dollar Makeover
A ribbon-cutting ceremony today marked the multimillion dollar makeover of the The Westport Inn. The renovated facility features new guest and meeting rooms, a lobby breakfast buffet area, and a new swimming pool. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Moving Day for Silver of Westport
After 19 years in the same Compo Acres shopping center location, Silver of Westport, the family-owned and operated gift and travel necessity business serving Fairfield County since 1904, moved today to its new space just a few doors away, a location that Silver previously occupied for 31 years. Co-owners Stephen Silver and his sister Susan said that 25 helpers comprised of employees and friends made the entire move between 9 a.m. and 11:30 a.m. According to Silver, Trader Joe’s will expand to include the vacated space. Silver said the grand opening of the new store will be on Oct. 15, but it will be open for business on Monday. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Westport September Demolitions Highest in Six Years
Maybe we should call it the WestportNow Teardown Index, but the September just concluded saw 13 demolitions in Westport—the highest one-month total since WestportNow Associate Editor Dave Matlow started counting in 2005. This was the aftermath of the demolition this week of 3 Great Marsh Road in the Saugatuck Shores across from the entrance to the Saugatuck Harbor Yacht Club, Built in 1934, the 1 1/2-story conventional-style house had 1,701 square feet, was situated on a 1.11-acre property and changed ownership in August 2011 for $1,136,174. It was the WestportNow Teardown of the Day on June 30, 2008. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Himes Tours Irene’s Toll on Downtown Businesses
By James Lomuscio
Though Hurricane Irene hit a month ago, its effect is still being felt on WestportR#8217;s Main Street, where U.S. Congressman Jim Himes got a first hand look today at business property damage and injury to the bottom line.
The sign in Chico’s window on Westport’s Main Street seemed to say it all as Rep. Jim Himes (D-4) and Westport First Selectman Gordon Joseloff toured businesses impacted by Irene. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
The sign in Chico’s window seemed to say it all: “Due to Hurricane Irene Our Boutique is Temporarily Closed.”
Chico’s was one of three businesses that remain shuttered due to Irene. The others are Lulumon Athletica at 91 Main St. and Theory at 89.
Himes, who was accompanied by First Selectman Gordon Joseloff, Fire Chief Andrew Kingsbury, state Rep, Jonathan Steinberg, and Tom Nocera, spokesman for the U.S. Small Business Association (SBA), called the damage Irene caused to businesses upsetting, especially since most have been struggling since the economic downturn.
Himes Tours Irene-Impacted Businesses on Main Street
Rep. Jim Himes (D-4) toured Westport Main Street today to visit businesses impacted by Tropical Storm Irene. Joining him in front of the Chico’s clothing boutique still closed because of the storm were (l-r) state Rep. Jonathan Steinberg, Westport First Selectman Gordon Joseloff, and Tom Nocera, public affairs specialist with the U.S. Small Business Administration. The officials stressed to business owners the availability of federal funds to help recover from the storm. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Post-Storm Tales from the Liquor Locker
Harvey Skolnick (r), owner of Main Street’s Liquor Locker, tells some official visitors today that Tropical Storm Irene caused only minimal damage because he was able to get much of his stock off the floor before flood waters rose several feet in his store. Listening are (l-r) Westport Fire Chief Andrew Kingsbury, Tom Nocera of the U.S. Small Business Administration, Rep. Jim Himes (D-4), and Westport First Selectman Gordon Joseloff. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Insurance Department Reduces Anthem’s Rate Hike
By Arielle Levin Becker
The Connecticut Insurance Department has turned down a request by the state’s largest health insurer to raise premiums by 12.9 percent for more than 25,000 individual-market policies, instead granting the company a 3.9 percent increase.
Anthem Blue Cross and Blue Shield had said that the higher increase was needed to account for rising claims costs, increased use of services by members, and state and federally mandated benefit changes.
But the insurance department found that a smaller increase was appropriate. Actuary Paul Lombardo wrote that the lower figure was based on reducing the operating margin for the plans and removing “underwriting wear-off” from Anthem’s calculations. Underwriting wear-off refers to the decline in members’ health status since they first bought the policies, making them poorer risks.
The 3.9 percent increase could take effect Jan. 1 for about 25,000 policies covering an estimated 48,000 state residents who buy private insurance on their own rather than through their employer.
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