FAIRFIELD COUNT Y
BUSINESS JOURNAL
YOUR ONLY SOURCE FOR LOCAL BUSINESS NEWS • westfaironline.com
Vol 48, No. 24 • June 11, 2012
Bob Rozycki
FCBJ TODAY Your banker might be even less bullish than you … 3 Accounting board ponders a small business alternative to U.S. GAAP … 7
cleanup litigation
Gold coastal property: Restoration Hardware to renovate Greenwich Avenue landmark … 8
BY ALEXANDER SOULE
casoule@westfairinc.com
In the field: Kayak reportedly delays IPO amid continuing Facebook fallout … 11
FAIRFIE
ST THE LI
June Next list:
CMOs
Social media’s value examined Page 6
LD COUNTY 18
LIST: JUNE st Hotels NEXTLarge T HOTELS 18 —LARGES
CMOs
CMO Year appoint
Listed
Listed
alphabe
alphab
CMO
.
Year appoint
Website
ed
Birge Robert 2009
number , phone e noted) address otherwis Name, 203 (unless Area code:
KAYACK
1, Norwalk St., Suite 55 N. Water kayak.com 0• 899-310
Website Wise Audrey g of marketin NA
Director
l ort Hospita Bridgep St., Bridgeport 06610 l.com Grant rthospita
e Learnin
d 06902
g Inc.
Suite d Place, Stamfor com 200 First 0 • cenage. 965-860
400, Stamfor
fied Holding
L. Wyman g Jennifer of marketin Director 2007
s
ss Diversi d 06880 Road, Stamfor .com ssequity 61 Wilton 3 • compa 221-170
Compa
Vice presiden
ity
Fairfiel Road, Fairfield Benson edu 1073 N. 0 • fairfield. 254-400 Frontie
r Commu
nicatio
l Electric
Co.
Senior
, Fairfield Turnpike 3135 Easton ge.com 1• 373-221
06828
d 06902 Group Road, Stamfor lding.com gs Point 96 Cummin independenceho 0• 358-800
Inc. 612, Norwalk Ave., Suite th.com 901 Main 0 • imsheal 845-520
IMS Health
CMO, UBS
Betty Nelson marketing t, global Vice presiden 2011 G. Ludmer ional Liaison Charles Nexia Internat l and CMO, 2008
s Politio Paula D. ment America Manage Wealth 2009
d 06912
Stamfor ton Blvd., 677 Washing ubs.com 0• 719-300
k Beth Comstoct and CMO vice presiden 2003
06851
las McNicho g Noreen , marketin Director 2005 her Killoy g Christop and marketin t, sales Vice presiden 2006
ny Inc.
UBS
d C. Smedsru officer Jeffrey g and strategy Chief marketin 2007
The IHC
& Compa
Ruger rt 06890 Place, Southpo com 1 Lacey 3 • ruger. 259-784
Sturm
Craig vice presiden 2011
d 06905
hlin g and McLaug marketin Inc. Theresa t, chief l Group e vice presiden Financia Group executiv officer, Citizens ications 1995 commun
2800 Main stvincents.org 0• 576-600
Coffey t and CMO
Senior
ns Corp.
Stamfor Ridge Park, t 3 High 0 • czn.ne 614-560
Genera
a L.P.
l Center t's Medica 06606 St. Vincen St., Bridgeport
r ciations Rama Sudhaka g and commun t for marketin 2007
06824
Russ Gasdia marketing and t, sales Vice presiden 2006
m 600 Washing sbank.co • citizen rbs.com
Heffler Mava K. t and CMO Vice presiden NA
Inc.
d Univers
06854
as d 06109 RBS Americton Blvd., Stamfor
a Inc.*
Group 06851 7, Norwalk 301 Merritt emcorgroup.com 0• 849-780
EMCOR
Inc.
Brett Keller 2002
Pharm d 06615 Blvd., Stamfor om 201 Tresser purduepharma.c 0• 588-800
Andy FennellDiageo P.L.C. g officer, Chief marketin 2008
06142 778, Hartford .com P.O. Box 0 • diageo 229-210
Diageo
e.com
Purdue
David Redhill 2003
10019 York, NY y, New com 1633 Broadwa 0 • deloitte. (212) 436-200
Deloitte*
North Americ
g
06854
Norwalk icut Ave., 800 Connect priceline.com 0• 299-800
Pricelin
Rich Foley and marketin t, sales e vice presiden 2002 Executiv
267 0 • bridgepo 384-300
Cengag
ed
number , phone e noted) address otherwis Name, 203 (unless Area code:
tically.
etically
Rentals
Inc.
Park, Greenwi ch Office 4 Greenwi 1 • ur.com 622-313
United
logies Corp.
Techno 06101 Hartford l Plaza, 1 Financia 0 • utc.com (800) 728-700
United
Corsillo t and CMO
Senior ch 06830
r Bank ry 06702 om St., Waterbu online.c 145 Bank 2 • webster 578-220
Webste
inment ng Enterta 06902 World WrestliSt., Stamford Main 1241 E. 0 • wwe.com 352-860
Juan vice presiden 2012 Carey E.
Bond
gies Corp. ers Helicopt
Technolo United Global CMO of t, Sikorsky 2009 and presiden
M. Crecca and t Michelle e vice presiden Bank Executiv and Webster CMO, Webster2008 D. Wilson Michelle g officer Chief marketin 2011 Carone Christa t and CMO Vice presiden 2008
Xerox Corp. Norwalk 06856 Ave., m 45 Glover 0 • xerox.co (800) 334-620
. CRIPTION L SUBS sample. DIGonITA view a BY mati and to ILABLE infor e.com AVAlists/ W /thefor more estfaironlin NO/buy • www.w T IS .com Publications EKLY LIS Business THE WEGo to westfaironlineJournal a division of Westfair Principa
ton 06032
L.L.P.* Road, Farming J.H. Cohn
n Park om 76 Batterso 3005. 0 • jhcohn.c 0, ext. . (860) 678-600 (914) 694-360 y websites ts, call from compan County ns or commen ion obtained s in Fairfield Questio Informat y has location Source: * Compan . available NA Not
of 12 Week
June 11,
ess
ty Busin
eld Coun
2012 • FairFi
Jack Serpa, executive vice president for Engage 121 Inc.
The List: chief marketing officers … 12 Special report: is it wise to mine new customers through social media? ... 13 Also … “Slower growth in healthcare costs could be the new normal.” ... 9
MEDIA PARTNER
Tronox move comes amid court battle Chemical company pursues
Changing tastes, changing times As sales of antiques wanes, shop owner tweaks business
BY MARY SHUSTACK
mshustack@westfairinc.com
H
arriet Roughan not only knows her antiques, but she knows her business. Estate Treasures of Greenwich, her longtime consignment shop in Riverside, has kept up with the times by fine-tuning its offerings. A simple walk through the 7,400-squarefoot treasure trove of a showroom will unearth everything from traditional English bone
china tea service to stately gilded-framed mirrors to estate jewelry dripping with gems – but it will also yield modern lamps, throw pillows, contemporary wooden boxes and reproduction cachepots. “The antiques business is not as strong at it was,” Roughan says. “That market has changed, and because it has changed and the young people’s decorating habits have changed, we have changed.” As with many antiques shops faced with Changing tastes, page 6
A
s it headed to court in an attempt to recover billions of dollars, chemicals giant Tronox Inc. simultaneously is relocating its headquarters to Stamford from Oklahoma City, with the state promising $3 million in financing. Tronox claims status as the world’s thirdlargest producer of titanium dioxide, with other producers including DuPont, Huntsman Corp. and Cristal Global. The pigment is used to whiten products ranging from paint to paper to plastic, with major Tronox customers including Benjamin Moore Paints, Sherwin Williams and PPG. In all, more than 1,000 companies buy titanium dioxide from Tronox, giving it an estimated 12 percent of the worldwide market share. In the three months ending March 31, Tronox reported an $86 million profit on revenue totaling $443 million. Tronox will add up to 100 jobs at 1 Stamford Plaza in Stamford, with the company offering cost-of-living adjustments for those that choose to move to the state. At deadline, Tronox had yet to list any open job positions on its website. The company’s arrival is a welcome development given Lonza AG’s decision to wind down its Norwalk office that once was the headquarters of Arch Chemicals, acquired by the Swiss company last year. In mid-May, the U.S. Department of Tronox move, Indeed, page 11
It’s an ad, ad, ad, ad world • 2