Westporter David Komansky, former chairman and CEO of Merrill Lynch, told a Temple Israel of Westport audience tonight that the recession is not yet over and the world economy is “really trying to bounce around on the bottom.”  WestportNow.com video

By Phyllis Groner

In a candid assessment of the global economy, the former chairman and CEO of Merrill Lynch told a Westport audience tonight that the recession is not yet over.
Former Merrill Lynch Chairman and CEO David Komansky (l) converses with Rabbi Robert Orkand (r) tonight at Westport’s Temple Israel. (CLICK TO ENLARGE) Phyllis Groner for WestportNow.com

“It’s very hard to assume that the trials and tribulations that the global economy have gone through are over now,” Westporter David Komansky told the Men’s Club at Temple Israel.

“I think much of it is behind us, but I think they’re still problems that are ahead of us that we are working our way through.”

Komansky spoke in a dialogue with Rabbi Robert Orkand and answered audience questions in what he said was only his second such appearance since retiring from Merrill Lynch in 2003.

Westport’s Agabhumi at 165 Post Road East tonight hosted students and parents of Norwalk’s Winston Prep that offers an individualized education for students with learning differences such as dyslexia and nonverbal learning disabilities. The store donated 20 percent of all purchases to the school. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

The Waxing Spot has opened at 420 Post Road West The business is owned by two Brazilian women, a Waterbury mother and daughter who spoke no English when they arrived in the United States seven years ago. Rosemery and Veri Takemori worked in a waxing salon in Ridgefield for several years before opening their own four-treatment-room salon in Westport. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

By Dave Matlow

Fairfield County Bank will open its newly constructed Westport branch at the corner of Post Road East and Compo Road South next month and knows it has its work cut out to win community support.
The new Fairfield County Bank branch at 20 Compo Road South will open Jan. 11. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

The branch adjacent to the town-owned Baron’s South property is scheduled to open on Jan. 11, according to Dan Berta, the bank’s executive vice president, strategic planning.

Referring to community concerns about commercial construction replacing a home on that corner, Berta said he recognizes that construction on the site was “a sensitive topic, but we delivered on our promise.”

“It was always our intent to build a building that fits into the community of which we are proud to be a part,” he said. (See WestportNow Oct. 24, 2008) 

Red Bean Sushi has opened at 1711 Post Road East, Westport,serving what it proclaims is “exotic Japanese cuisine.” Owner Eric Xie also owns Shanghai, a Chinese restaurant two doors away at 1715 Post Road East, and is also owner and chef of Norwalk’s Village Gourmet Asian Restaurant. Xie plans to another restaurant shortly, Red Bean Asian restaurant in Norwalk. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Rachel Florio, owner of The Goody Shop, 1046 Post Road East announced that the business will close this weekend. The store opened in March (See WestportNow March 17, 2009) next door to Swanky Frank’s. Florio described the business as catering to “a local demographic (equestrians and prepsters) that offers items from a tennis racket cover to a dog collar plus high-end hostess gifts and vintage-inspired baby goods.”  In announcing the closing, Florio said: “This is just another sign of the times. A struggling business in today’s economic crisis… It simply doesn’t make sense to stay open any longer. Ego has to be set aside and you have to think long term with your head and not your heart when considering closing down shop.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Westport’s Allegra Print & Imaging has closed its doors at 645 Post Road East. Owner Steve Knowles said there just was not enough business to survive the recession. The business had previously been known as Custom Printing. Customers were told to direct their business to the Allegra franchise in Danbury. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com