FAIRFIELD COUNT Y
BUSINESS JOURNAL
YOUR ONLY SOURCE FOR LOCAL BUSINESS NEWS • westfaironline.com bob rozycki
Vol 48, No. 21 • May 21, 2012
FCBJ TODAY Next-best thing to “best case scenario” on education reform – what next, and under what scenario can Connecticut families and businesses grade it? 2
Himes critical of opponents
With crowdfunding on cusp, who is taxiing into position? 3
BY PATRICK GALLAGHER
pgallagher@westfairinc.com
C If the recession proved a knife’s edge for many companies, that was not the case for makers of stilettos, with one researcher telling CNN in 2010 that previous economic downturns have been marked by elevated heels as women take refuge in a form of escapism. Solemates led CEO Brown and cofounder Murphy to escape their corporate careers at
onnecticut manufacturers collectively exhaled last week after the U.S. Senate voted to reauthorize the ExportImport Bank and raise its lending authority despite unexpectedly strong Tea Party opposition in both houses of Congress. The Export-Import Bank, which guarantees commercial bank loans made to U.S. exporters, was at risk of losing its charter May 31 if debate over the reauthorization measure had stalled. The bank completed $41.3 billion in total loan authorizations during its 2011 fiscal year, which supported $32.7 billion in exports and 288,000 American jobs, according to the bank’s 2011 annual report. Since 2007, the bank has backed more than $719 million in loans to Connecticut exporters, resulting in exports worth more than $1.36 billion. “Exporting is a real key part of the Connecticut economy,” said Connecticut Business and Industry Association economist Peter Gioia. “Except for 2008 and 2009, we basically were setting export records every year since the early ’90s.” U.S. Rep. Jim Himes of Greenwich said it was critical to the region’s economic recovery that the bank be reauthorized. “As the numbers indicate, exporters are leading the way in the recovery,” Himes told the Business Journal. “Allowing the ExportImport Bank’s authority to lapse would’ve been a mistake under any circumstance, but
Well-heeled invention, page 6
Ex-Im renewal, page 6
In the field: from a seaside bluff, waving Connecticut’s banner to the world … 9
Causes with concerns Nonprofits struggle to attract
America Invents – Fairfield County too … 11
dynamic board members
BY ALEXANDER SOULE
The List: you dream it up, they lock it down … 12 Also … “It’s required a lot of tough decisions to be made. Along the way it’s ruffled a lot of feathers. That’s because change is hard.” …4
casoule@westfairinc.com When it comes to putting their money where their mouth is, Fairfield County nonprofits give Causes with concerns, page 6
Elaine Mintz of the Fairfield County Community Foundation.
Well-heeled invention
Add-on makes stilettos terrain-ready BY ALEXANDER SOULE
casoule@westfairinc.com
MEDIA PARTNER
Ex-Im renewal key to recovery, supporters say
A
nyone who has mulled leaving the security of a good job for the instability of a startup should talk to Becca Brown and Monica Murphy. Stability is the very foundation of their Solemates Inc. – when it comes to women’s shoes, anyway.
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Forty reasons to circle June 21 (no, it’s not the summer solstice) … 8