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FAIRFIELD COUNTY

BUSINESS JOURNAL YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS | westfaironline.com

July 28, 2014 | VOL. 50, No. 30

THE DATA DELUGE

FCBJ this week NICE PLACE David Ogilvy & Associates markets a $65M Greenwich home … 4

IS INVESTMENT NEWS RIPE FOR CHANGE? BY BILL FALLON Bfallon@westfairinc.com

DYNAMIC DANBURY The city boasts the lowest unemployment rate in the state … 10

W

TAX STRATEGY Family limited partnerships have a mixed record with the IRS … 11 TOASTING SUCCESS Newsmakers charts advances of friends and colleagues … 14

NEXT STOP ... BRIDGEPORT

MEDIA PARTNER

PLANS SECOND STATION

David Kooris at the proposed site for Bridgeport’s second train station.

BY CRYSTAL KANG ckang@westfairinc.com

Doubly connected by the Metro-North New Haven and Amtrak lines, Bridgeport plans to further embrace trains by redeveloping a vacant armament property as the city’s second train station, operable in four years. The 8-acre, East Side property was acquired in a tax foreclosure, carved from the 25-acre Remington Arms Co. site, which saw the production of bullets and shell cases during World War II. Bridgeport received a $25,000 federal grant to conduct a feasibility study for the

ith weather eyes honed on Wall Street, two Westport businessmen have launched TradeXchange at 1720 Post Road E., a company targeting what they see as complacency by traditional investment news providers. “Only the amount of news is increasing,” they say, “not the quality.” Plans call for 75 hires in the first year. Partner Milton Marmanides’ University of Connecticut focus was business and business finance, which led to an early hedge fund career. He was named a partner at 27 with Atlanta-based real estate investment and advisory firm Imperial Investments L.L.C. George Avidon is an engineer who studied economics at UConn as an undergraduate. His master’s thesis for his M.S. in engineering from the University of Bridgeport addressed “disruptive technologies and how inter-industries and inter-curriculum affect one another and contribute to growth and ingenuity.” Marmanides and Avidon said stints on Wall Street taught them the current business information environment is “ripe for a directional change.” The pair began discussing the problem casually a year ago and three months ago took the discussions to the business-formation stage and hired a lawyer. “The process has not been easy and at times difficult to achieve,” they said in response to questions from the Fairfield County Business Journal. “The end result is a method that enables traders to see securities and indices that may be ‘in play.’ We call it TX 1.”

proposed train station. The study demonstrated that the property, which DuPont bought in the 1980s and remediated, could provide value and spur economic growth. “We then received a state grant through the support of state Senator (Andres) Ayala (Jr.), to demolish several hundred thousand square feet of vacant buildings on this site,” said David Kooris, director of planning and economic development in Bridgeport. “The ground is red with crushed brick used to fill the site. We completed the demolition a few months ago.

“The basis for the idea surfaced with the notion that information can and will become more overwhelming as volume and its velocity increases at an exponential rate.

» BRIDGEPORT, page 6

» DATA, page 6

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