Category Archives: Business Beat

Riley’d Up

Definitely too good to make up.

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AT&T Buys T-Mobile

It’s like a match made from heaven. Phone heaven, that is.

AT&T

T-Mobile.

AT&T recently bought T-Mobile for $39 billion to become the largest wireless communications company in the U.S. But for every winner, there is a loser.

Among the winners is, of course, AT&T. It could mean better coverage and give soon-to-be former T-Mobile customers the option to upgrade to the Apple-manufactured iPhone and iPad without having to sign a new carrier deal. This is good news.

On the down side, though, there is the possibility of layoffs for T-Mobile employees. In a dog-eat-dog world, or in this case, bigger-dog-eat-very-little-dog, the bigger dog triumphs and the little dog gets slaughtered, to put it kindly.

Did You Hear About Richard?

Soon all of Connecticut will. A former Circuit City in Manchester just opened as a P.C. Richard & Son store. The Newington location, also formerly Circuit City, will open later this month. P.C. Richard & Son already has stores in New York, New Jersey, and Pennsylvania.

Good-bye, Mercury

It’s the end of an era for the Ford Motor Company.

As Detroit hadn’t suffered enough,  here drops yet another bombshell. Ford is eliminating its Mercury brand after over 70 years due to its poor sales in its bottom line. No word on the cost of eliminating the Mercury brand, but production for Mercury cars will stop during the fourth quarter this year. The reason for this action is to help expand the more successful Lincoln brand.

Best Cities for the Next Decade

I was jonesin’ through the Internet, as usual, when I came across the Yahoo! article for the “10 Best Citites for the Next Decade.” Although West Hartford here in Connecticut wasn’t the crème de la crème (Austin, Texas took that title), it certainly is among the top 10 best cities for the new decade.

If anything boosted the economy in West Hartford, it had to be the Blue Back Square smack dab in the middle of town. Yes, the unemployment rate is still high, but this town can create new jobs even during the recession. By the way, it’s still a recession until the unemployment rate goes down.

Goodbye 11K

The Dow Jones Industrial Power Shareholders lost 213 points, causing it to slip below the 11,000 mark today.

In light of the fall of the Dow, Goldman Sachs was getting grilled as CEO Lloyd Blankenfein and other Goldman executives tried to explain themselves before a panel of U.S. Senators. Among the Senators interrogating Goldman execs was Democratic Senator Carl Levin, who ripped Blankenfein on the company’s “shitty deal” e-mail. Um…. you can’t make this mess up.