Business and Economy

NH News
11:56 am
Fri October 3, 2014

N.H.'s Unemployment Tax Rate Drops By .5 Percent

Credit bytemarks / Flickr Creative Commons

New Hampshire’s unemployment tax rate went down by .5 percent at the beginning of the month.

State officials say the new rate is a result of the health of the state’s unemployment compensation trust fund, which ran a balance greater than $250 million in the third quarter of fiscal year 2014.

The state’s unemployment compensation law triggers an automatic reduction to the tax rate when the trust fund maintains certain levels.

New Hampshire Employment Security Deputy Commissioner Richard Lavers says that positive trend is expected to continue into next year.

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Business and Economy
3:10 pm
Mon September 22, 2014

Whole Foods' Pricey, Personal Formula Could Put Pressure On N.H. Farmers

Credit Sheryl Rich-Kern for NHPR

Whole Foods opened its first New Hampshire store in Nashua last month. It plans to add stores in Bedford and Portsmouth by 2016.

It’s an open question whether the Texas-based chain known for high-end natural and organic products can compete with farmers markets on the one hand and with the reopened Market Basket, or the grocers that saw their business grow as the Demoulas family feuded.

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New England Snapshot
2:25 pm
Wed September 17, 2014

Maine Sponsors NASCAR Race Car To Promote Tourism, Business Climate

Gov. Paul LePage poses for the cameras with Miss Maine, left, Miss Teen Maine, and NASCAR driver Austin Theriault, in front of Theriault's car.
Credit Patty Wright, MPBN

It's being billed as the first-ever public-private sponsorship of a race car. Today Gov. Paul LePage announced that the state of Maine will use Fort Kent NASCAR driver Austin Theriault's car as a billboard for the slogan, "Maine is open for business." The sponsorship cost the state $50,000. Some are celebrating the move, while others question whether it will drive business to the state.

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New England Snapshot
2:15 pm
Wed September 17, 2014

Bucking Trend Of Industry Decline, American Woolen Company Relaunches In Connecticut

The main offices of the American Woolen Company in Stafford Springs.
Credit J Holt for WNPR

The slow death of the textile industry in the U.S. was underscored last December by the closure of the last operating mill in Connecticut, the historic Warren Mills in Stafford Springs. That same mill is celebrating its re-opening under new owners. 

How does the American Woolen Company expect to buck the trend?

In early 2013, investment banker Jacob Harrison Long bought the American Woolen Company. Once one of the nation’s most recognized textile companies, when Long arrived, it was little more than a trademark.

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Business and Economy
3:31 pm
Mon September 15, 2014

To Attract Millennial Workers, Ditch The Cubicles

Originally published on Mon September 15, 2014 9:09 am

As you head to work this morning, your workspace sits empty, awaiting your return. Maybe it’s a cubicle, a windowless box, or a corner office with a view of Boston harbor. Whatever it is, that may change soon, in order to not only accommodate but attract a younger workforce.

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Market Basket
8:09 am
Fri September 12, 2014

Arthur T. Demoulas Says Sales Are Strong, Is 'Happy Being A Grocer'

Credit Roger Wood for NHPR

The chief of the Market Basket supermarket chain says the company's 71 stores have already accomplished a remarkable turnaround thanks to employees who worked day and night to restock shelves left empty by a worker revolt in his support.

Arthur T. Demoulas is back in control after offering more than $1.5 billion to buy shares of the private company from rival relatives who had fired him.

His ouster led to worker walkouts and customer boycotts that brought the chain to a standstill.

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Market Basket
2:14 pm
Sun September 7, 2014

Recovery Begins At Market Basket Stores

Credit Ella Nilsen / NHPR

Market Basket is looking to new customers as well as old as it begins its recovery from a six-week employee walkout and customer boycott.

Store managers of the New England supermarket chain say they are seeing a lot of new faces in the food aisles since the board of directors agreed to sell the company to its ousted leader, Arthur T. Demoulas.

Employees have been working around the clock to restock store shelves. Managers say they expect to be nearly fully stocked this weekend.

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Market Basket
4:00 pm
Fri August 29, 2014

How The Market Basket Deal Works: No Risk, No Reward

A plaque with the Blackstone Group logo is photographed Monday, Aug. 13, 2007 at its headquarters in New York.

Originally published on Fri August 29, 2014 9:46 am

How does a deal like the $1.5 billion buyout of Market Basket work? What did it take Arthur T. Demoulas to gain total control of the 71-store supermarket chain from warring relatives? It was complicated — from start to finish.

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Business and Economy
3:23 pm
Wed August 27, 2014

Unions For FairPoint Workers Deliver Contract Proposal

Unions representing more than 1,700 FairPoint Communications workers in Maine, New Hampshire and Vermont have delivered another contract proposal to the company in hopes of ending a stalemate.

Pete McLaughlin from the International Brotherhood of Electrical Workers in Maine said the proposal submitted Wednesday aimed to reduce operation costs while meeting union members' needs.

The previous proposal submitted on Aug. 14 was rejected by the company.

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Business and Economy
8:02 am
Wed August 27, 2014

Market Basket Standoff Hits 40-Day Mark

Credit Ella Nilsen / NHPR

In several theologies, including the Greek Orthodox faith of the Demoulas family who own Market Basket, 40 days and 40 nights is symbolic for a prolonged period of trial and suffering.

This story originally published by WBUR.

“This is evil,” said Cheri Nolan who is a general manager at Andover’s Indian Ridge Country Club, which Market Basket owns. “They just want to destroy the company. In my opinion, they are evil.”

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Business and Economy
9:54 am
Tue August 26, 2014

Market Basket Employee Files Complaint With National Labor Relations Board

Market Basket employees protest in Tewksbury Monday.

Originally published on Tue August 26, 2014 10:05 am

Market Basket employee Karen Bostwick, of Tewksbury, has filed a charge with the National Labor Relations Board, contending current Market Basket management is “violating the right to picket and strike.”

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Market Basket
1:16 pm
Sat August 23, 2014

No Deal Yet For Market Basket

A sign supporting Arthur T. outside a Market Basket in Concord, NH
Credit Rebecca Lavoie for NHPR

The family feud that has brought the Market Basket supermarket chain to its knees may be nearing its end.

Ousted CEO Arthur T. Demoulas has reportedly made a $1.5 billion offer to buy out the part of the company controlled by his rival cousin, Arthur S. Demoulas, and his allies on the board.

The board was scheduled to meet Sunday but the meeting was called off due to disagreements over some terms of the sale.

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Market Basket
4:52 pm
Fri August 22, 2014

Arthur T. Demoulas Submits Final Market Basket Bid

Market Basket in Somerville.

Originally published on Mon August 25, 2014 9:14 am

The bitter five-week standoff that has cost thousands of Market Basket workers their jobs and prompted a customer boycott may be drawing to a close.

Ousted Market Basket CEO Arthur T. Demoulas submitted a final offer to buy his family’s grocery chain on Friday. The details of the offer have not been made public.

A Market Basket representative says the board is scheduled to meet Sunday or early next week to discuss his final bid.

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Market Basket
4:34 pm
Wed August 20, 2014

N.H. Market Basket Vendors Pull Out In Support Of Workers

Shopping carts are arranged forming the letters ATD in the parking lot of a Market Basket Supermarket in North Andover, Mass., Monday, Aug. 11, 2014, in support of former CEO Arthur T. Demoulas.
Credit AP Photo/Elise Amendola

Some New Hampshire food and beverage vendors who supply Market Basket's shelves say they're backing workers by no longer selling products to the beleaguered grocery chain.

Moonlight Meadery of Londonderry makes honey wine, and the company's founder, Michael Fairbrother, says Market Basket was his biggest retail client, accounting for about one-third of sales. 

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Market Basket
8:40 am
Mon August 18, 2014

Governors Hassan, Patrick Working To Broker Market Basket Deal

Credit Val D'Aquila via Flickr CC

The governors of Massachusetts and New Hampshire are stepping up efforts to broker a deal to bring the Market Basket standoff to an end.

Massachusetts Gov. Deval Patrick and New Hampshire Gov. Maggie Hassan actively participated in negotiations Sunday with feuding cousins Arthur T. Demoulas and Arthur S. Demoulas as well as several other shareholders.

The grocery store chain has 71 stores, all but one in Massachusetts and New Hampshire.

A Patrick spokeswoman says the "the parties have made real progress" and are encouraged that a "resolution may be within reach."

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