Fairfield County Bank today released an artist’s rendering of its new Westport branch at Post Road East and Compo Road South and said it intends to rebuild a brick wall—but on a smaller scale—that had long surrounded the property.
An artist’s rendering of the new Fairfield County Bank branch at Post Road East and Compo Road South in Westport. (CLICK TO ENLARGE) Contributed photo

“As a part of the site preparation, the State of Connecticut Department of Transportation (DOT) required the brick wall that stands on the property be removed because DOT had determined the wall was too high and obstructed vehicles sight line, potentially creating a safety issue,” the bank said in a statement.

“The brick wall will be replaced with a new brick wall which will be four feet high and will closely match the former wall. The bank is committed to creating a building that reflects the character of Westport.”

A picture on WestportNow of the destroyed wall had drawn criticism from readers, some of whom said they had no intention of doing business with the bank as a result. (See WestportNow Oct. 21, 2008)

Crumbs Bake Shop will open a Westport branch next March on Taylor Place behind Tiffany’s.

An application for renovations to the building has been filed with town officials.

Crumbs Bake Shop first opened its doors in March of 2003 on the Upper West Side of Manhattan.There are 21 branches open or soon to open in New York, New Jersey, Connecticut and California.

The Westport store will be the third in Connecticut. A branch opened in Stamford this month and another will open in New Canaan in January.

A four-person team that managed nearly $1 billion in client assets has left Merrill Lynch to launch a new independent firm in Westport.

The team members—Bill Loftus, Bill Lomus, Kevin Burns and Jim Pratt-Heaney—made the jump following last month’s announcement that Bank of America is buying Merrill Lynch in a $50 billion deal. Thousands of Merrill employees may lose their jobs as a result.

The team, formerly known as the LLBH Group of Merrill Lynch, will now be principals at the new firm, LLBH Group Private Wealth Management.

Loftus will head corporate executive services, lending and alternative investment operations; Burns will run client asset acquisition and client service and contact; Pratt-Heaney will be responsible for asset management; and Lomus, a CFP, will oversee the investment planning process.

Newman’s Own is entering the frozen pizza business.
From salad bowl to pizza pan. Contributed photo

An announcement from the Westport-based company said it has launched products in the premium segment of the frozen pizza market that are a “compelling, all-natural choice, competitively priced with the other national frozen pizza brands.”

The roll out of Newman’s Own Thin and Crispy frozen pizza began this month in five test markets and is part of a growth strategy “to focus on what consumers want: convenient, all-natural meal solutions,” the company said.

The pizza quartet is available in four adult/kid-friendly varieties—Supreme; Four Cheese; Roasted Garlic and Chicken; and Uncured Pepperoni.

UPDATE Greenwood Publishing Group, a Westport presence for four decades, will close in December and about 150 employees will be terminated, according to a source at parent company Boston-based Houghton Mifflin Harcourt (HMH).
Sam Bell, the owner of 88 Post Road West where Greenwood Publishing is located, said he has heard that some of its 150 workers will be offered jobs in Santa Barbara, Calif., or in Colorado. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

The closure of the office at 88 Post Road West follows an announcement last week that HMH has reached a deal with ABC-CLIO that gives the Santa Barbara, Calif.-based company a perpetual license to use the imprints and publish the titles of Greenwood.

No financial terms were disclosed for the deal involving Greenwood Press, Praeger Publishers, Praeger Security International, and Libraries Unlimited.

Layoffs are scheduled to begin the first week in December, the source said.

Gov M. Jodi Rell said today she will be announcing “concrete steps” soon that will help ensure that Connecticut businesses will have more steady access to credit.
Gov. M. Jodi Rell: “News from Wall Street is bleak.” Dave Matlow/WN file photo

In a statement, Rell said the measures will also enable Connecticut’s cities and towns to deal with the effect of new credit restrictions.

Rell said: “The news from Wall Street is bleak and the effects of the market turbulence continue to resonate in our state.

“Connecticut continues to outperform our neighbors and many other states – but as this economic situation drags on, simply doing better than everyone else is not good enough.

UPDATE Hudson Valley Bank opens its new full-service Westport branch on Monday.
The Hudson Valley Bank branch at 420 Post Road West in Westport opens Monday. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Located at 420 Post Road West, the building formerly housed a TD Banknorth branch. Hudson Valley Bank announced its intention to take over the spot last April. (See WestportNow April 9, 2008)

“We remain financially strong despite the turmoil in the industry today and are committed to meeting the banking needs of Fairfield County,” said James J. Landy, bank president and chief executive officer.

The branch, which is open Monday through Friday from 8:30 a.m. to 4:30 p.m., also features a 24-hour ATM and drive up window.

Citigroup has agreed to buy Wachovia’s banking operations in a deal facilitated by the government, the Federal Deposit Insurance Corp. said.  New York-based Citigroup will pay $2.1 billion to Wachovia for its retail bank, corporate and investment bank and wealth-management business. The FDIC said Wachovia didn’t fail, and that all depositors are protected and there will be no cost to the Deposit Insurance Fund. Wachovia, which had pursued rapid growth with relentless acquisitions of weaker rivals, had also been discussing a deal with Wells Fargo. Wachovia’s branch in Westport is located at 422 Post Raod East, next to Trader Joe’s. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Despite the collapse of Washington Mutual, the nation’s biggest bank failure ever, and the sale of its assets to JPMorgan Chase, it was business as usual today at the Washington Mutual branch on Westport’s Post Road West. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

By Dave Matlow

HomeGoods, an off-price store dedicated to home fashions, will open its doors to customers at 8 a.m. on Sunday on Westport’s Post Road East near the Fairfield town line.
HomeGoods opens Sunday on Post Road East near the Fairfield line in space formerly occupied by Toys ‘R’ Us. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

The opening of the 37,000-square-foot store in space formerly occupied by Toys ‘R’ Us is the second major retailing boost to Westport’s economy in a month. A similar-sized Crate & Barrel opened Aug. 21 a short distance away. (See WestportNow Aug. 21, 2008)

Established in 1992, HomeGoods is owned by Framingham, Mass.-based TJX Companies, which also owns T.J. Maxx, Marshalls and other branded stores. 

The store located at Westport Plaza on Post Road near Bulkley Avenue is one of the three largest stores in the HomeGoods company which has outlets in more than 300 locations.