Latest news with #Groton
Bloomberg
3 days ago
- Business
- Bloomberg
Failed Muni Bond Draws FBI and Sparks `Ponzi-Like Fraud' Claims
Before the lawsuits started piling up in courtrooms across Connecticut, before his employer accused him of running a 'massive Ponzi-like fraud,' and before the FBI showed up, Robert Cappelletti looked well on his way to pulling off one of the greatest muni-bond coups of all time. The plan Cappelletti had put together was so audacious it bordered on the fantastical. The housing agency he ran in Groton, a sleepy town of some 40,000 people along Connecticut's Thames River, would sell $750 million of bonds to jumpstart a $4 billion project to transform a bunch of run-down shopping plazas into a sprawling, up-scale development. There'd be a new train station, a hospital, almost 2,000 apartments and dozens of shops and restaurants.
Washington Post
19-05-2025
- Business
- Washington Post
Strike averted as submarine designers in Connecticut agree to contract with Electric Boat
GROTON, Conn. — The union for about 2,500 submarine designers at Electric Boat in Connecticut has tentatively agreed to a new contract with the company, averting a strike that would have begun Monday. The Marine Draftsmen's Association-United Auto Workers of America, Local 571, essentially the workers responsible for designing the U.S. Navy's nuclear submarine fleet, had threatened to strike earlier this month if the company did not make greater wage and benefit concessions.
Associated Press
19-05-2025
- Business
- Associated Press
Strike averted as submarine designers in Connecticut agree to contract with Electric Boat
GROTON, Conn. (AP) — The union for about 2,500 submarine designers at Electric Boat in Connecticut has tentatively agreed to a new contract with the company, averting a strike that would have begun Monday. The Marine Draftsmen's Association-United Auto Workers of America, Local 571, essentially the workers responsible for designing the U.S. Navy's nuclear submarine fleet, had threatened to strike earlier this month if the company did not make greater wage and benefit concessions. The local's negotiating committee announced the tentative contract agreement late Sunday, saying it contains 'unprecedented' wage increases of more than 30% over the five-year term as well as increased retirement security. The deal now goes up for a vote by union members. Union officials did not say when the vote would be. 'We've been saying it all along: The company didn't want a work stoppage, we did not want a work stoppage,' William Louis, president of Local 571, said in a video posted on union social media sites Sunday night. 'And as we've been telling you for a long time, we have been working endlessly to get to the table with the company and have something put together that we both agree on.' Electric Boat, a subsidiary of Reston, Virginia-based General Dynamics, was recently awarded a contract worth more than $12.4 billion by the Navy for the construction of two Virginia-class submarines. The funding also covers improved pay for workers including the Marine Draftsmen's Association. 'This package recognizes the essential role of the MDA members in the production of submarines for the U.S. Navy,' Electric Boat said in a joint statement with the union. The union's contract expired April 4, but leadership had agreed to continue bargaining with EB. Electric Boat employs more than 23,000 people at his shipyard in Groton, Connecticut, engineering facilities in New London, Connecticut, and operations in Quonset Point, Rhode Island. The company said its earlier offer included a 23.3% general wage increase over the life of the contract, plus benefits and an increased retirement package.
Yahoo
10-05-2025
- Yahoo
Man struck, killed by Amtrak train in Groton
GROTON, Conn. (WTNH) — An unidentified man was struck and killed by an Amtrak train in Groton on Friday morning. Amtrak said in a statement that Amtrak train 93 was traveling from Boston, Mass. to Norfolk, Va. when at approximately 11:11 a.m. the train struck a person who, 'was trespassing on the track came into contact with the train west of Mystic.' Amtrak said no injuries were reported by either the passengers or the crew onboard. They said they are working with local law enforcement to investigate the incident. Gorton Police confirmed an adult man died. Check back for updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-04-2025
- Sport
- Yahoo
Binghamton Bearcat and Groton alumna Elisa Allen recognized nationally for week stats
BINGHAMTON, N.Y. (WIVT/WBGH) – One Binghamton Bearcats and Groton alumna made her impact over the past week in the team's series against Maine and is getting recognized nationally for it. Elisa Allen was ranked 7th in the 64Analytics Softball D-I Hitters of the Week. Over the span, she batted .714, with four of her five hits being homers. She totaled five runs and drove in six RBIs, four of which were herself. She was also walked once. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
