FAIRFIELD COUNTY
BUSINESS JOURNAL
YOUR only SOURCE FOR regional BUSINESS NEWS | westfaironline.com
Insurance carrier enrollment drops 11 percent
FCBJ TODAY Deciphering the rhetoric on the edge of the cliff … 2 Reinventing Ethan Allan – by chance and by plan … 3 In the field: deaths stun Connecticut businesses … 8 When in doubt, throw it out – Connecticut blackout edition? 10 The early returns on $1B in renewable power generation … 11 A new Connecticut startup for your contacts app … 14 The List: Square feet gone exponential … 20
BY ALEXANDER SOULE
casoule@westfairinc.com
I
n a possible indictment of federal health reform in Connecticut, private insurance carriers covered 320,000 fewer people in 2011 – an 11 percent drop. The decline was driven by Aetna Inc. and UnitedHealth Group and its Oxford Health
Plans subsidiary, which combined reported about a 70 percent drop in their plan enrollment in Connecticut – if factoring in the Health Net members UnitedHealth had the option of inheriting following its acquisition of Health Net’s Northeast subsidiaries three years ago. Aetna spokeswoman Susan Millerick questioned the significant drop reported in the
pgallagher@westfairinc.com
Gold coastal property: Carter’s to fold Shelton office … 24 DOT strategy on design-build: go slow … 25
BY JOHN GOLDEN
jgolden@westfairinc.com
MEDIA PARTNER
China’s transition to a consumer economy and its aim to sustain itself as a major global trading power offers a wealth of opportunities for U.S. businesses willing to risk lax enforcement of intellectual property laws and navigate local regulatory and cultural channels to sell their products and services there.
Insurance, page 6
BY PATRICK GALLAGHER
Paul B. Edelberg
Robbin Price
state’s official figures, but offered no theory as to why the Connecticut Insurance Department count would be inaccurate. She attributed some of the company’s decline to Aetna discontinuing its participation in the Connecticut HUSKY plan for lowincome residents, after it was restructured to
eBrevia closes on $400K in financing
China eager for U.S. business
Special report: AvalonBay vets set Spinnaker on renewed residential tack … 22
Also … “Are there magic solutions? I’m afraid not. Are there sacrifices to be made? I’m afraid so.” 2
October 22, 2012 | VOL. 48, No. 43
Steven L. Henning
So a panel of China trade and banking experts told a business audience from Fairfield County and New York’s Westchester County at a recent discussion on selling into the China market. The breakfast event was hosted by HSBC and the Westchester County Business Journal at the Hilton Westchester in Rye Brook. Exports from the U.S. to China grew 542 percent from 2000 to 2011, according China, page 6
C
oming off a successful pitch to investors at the DEMO 2012 conference in California, Stamford e-commerce startup eBrevia L.L.C. is close to completing an initial round of fundraising and plans to launch its legal technology platform in the next four months. After teaming with researchers at Columbia University in September 2011 to develop a software platform aimed at expediting the legal review process for corporate mergers and acquisitions, the company is close to securing $400,000 in initial financing, said Ned Gannon, eBrevia co-founder and CEO. “We’ve gotten a number of commitments and we’re hoping to close that in the near future,” Gannon said. “Broadly speaking, we’re going to complete product development and then launch and market the software. We’re contemplating that will occur within approximately four months.” As a corporate attorney, Gannon has seen firsthand the amount of time and money firms devote to vetting mergers and acquisitions. He approached former Harvard Law School classmate Adam Nguyen about pioneering a solueBrevia, page 6
Tales from the edge • 5