Senate approves Dodd’s Amendment
The U.S. Senate approved Thursday Connecticut Senator Chris Dodd’s amendment to restrict executive compensation and bonuses. The “Dodd Amendment” applies to recipients of the Troubled Asset Relief Program fund, a federal program that aims to strengthen the financial sector by using tax dollars to purchase assets and equity from financial institutions. Through a series of checks and greater oversight, the amendment will prevent firms that receive TARP funding from granting members of their management boards “excessive” bonuses, potentially with TARP money.
—Yale Daily News
Crown St. site settles for $300,000 in asbestos suit
According to an EPA press release Thursday, Anderson-Wilcox Corp. and Cutting Edge Concepts II LLC have agreed to a $300,000 fine for violating the Clean Air Act through unsafe asbestos removal and disposal in 2002. Cutting Edge Concepts contracted construction firm Anderson-Wilcox to renovate and clear debris from a building it owned at 116 Crown St. It was proven that the companies did not thoroughly check for asbestos and disposed of asbestos-containing pipes and tiles in open-topped dumpsters without keeping them wet, increasing the risk of exposure to airborne carcinogenic fibers.
—Christian Eubank
JuicyCampus busted for damaging comments
Attorney General Richard Blumenthal hailed the shutdown of campus gossip Web site JuicyCampus. His office had investigated the company for failing to limit, as guaranteed on the site’s terms and conditions, abusive, racist and obscene posts that might damage a third party’s reputation. Blumenthal said his office found hateful, racist and sexist threads on the site. He also criticized the company for not providing a basic mechanism for reporting violations. “JuicyCampus is deservedly dead,” Blumenthal said in a press release, “out of juice and financially ruined.”
—Zeke Miller
Post-Bruce Springsteen sales, Blumenthal cracks down on Ticketmaster
Attorney General Richard Blumenthal confirmed Thursday he is investigating Ticketmaster and TicketsNow after the companies allegedly charged consumers inflated resale prices for Bruce Springsteen tickets. Consumers trying to purchase tickets to the Boss’s concert in New Jersey were told by Ticketmaster — the sole broker for the event — that tickets were sold out, and they were redirected to TicketsNow, a subsidiary resale site where the tickets cost hundreds of dollars above face value.
—Clark Xue
Grant awarded to buffer Tristate area against job loss
Connecticut, New York and New Jersey will be receiving a combined $22 million from the Department of Labor to assist workers losing jobs during the economic crisis. In a statement, Connecticut Gov. M. Jodi Rell said she hopes to use these funds to help state residents find jobs but cautioned that thousands of jobs will be lost over the next two years. The grant provides for counseling, career education, job search and other services for those losing their jobs.
—Zeke Miller
Guilford holds adult spelling bee for charity
The Guilford Fund for Education will hold its third annual Adult Spelling Bee Friday night at the Guilford High School Auditorium. Teams of three adults will battle onstage for the “Best of the Hive” trophy. The Bee will follow standard Scripps National Spelling Bee rules, and prizes in addition to the trophy will be awarded based on best name, best costume and most spirited, among others. The $225-per-team entry fee will support the Guilford Fund for Education, a nonprofit group dedicated to improving student experiences by funding initiatives that fall outside of the Guilford Public School budget.
—Clark Xue