United Technologies said it wants to save $1.5 billion through closures and layoffs. But CEO Greg Hayes told The Hartford Courant that Connecticut is likely to be spared the worst of the cuts.
Hayes addressed analysts on Thursday at an annual event in New York. He told them the company will embark on a three-year restructuring which will see it close and consolidate facilities.
But Hayes said that because of Connecticut’s concentration on aerospace, which is a growing business for UTC, the restructuring effort is likely to focus elsewhere. He also forecast a slight rise in profits next year for the Farmington-based conglomerate.
Coast Guard Museum Win
Success may be a step closer in the long effort to fund a national Coast Guard Museum in New London.
A bill passed in the House of Representatives on Thursday night would allow the Coast Guard to provide support for the development and construction of the facility.
The service itself has previously been barred by federal law from using its own funds toward the museum. An amendment to the Coast Guard Authorization Act, sponsored by Second District Representative Joe Courtney, would change that.
Jordan's Opens in New Haven
Jordan’s Furniture has brought its out-loud style to New Haven.
The Massachusetts-based company will host a grand opening for its new location in the city on Friday. The furniture showroom is actually the smaller part of the facility, which also includes a 30,000-square-foot entertainment complex, with what Jordan’s said is the world’s largest indoor ropes course.
Jordan’s owner, billionaire investor Warren Buffett, took a personal tour of the new store Thursday.
