Concord: A sentencing hearing for former Enterasys Networks Inc. CEO Enrique “Henry” P. Fiallo on a charge of conspiracy to commit mail fraud, wire fraud and securities fraud by inflating the company’s financial results in 2001 has been postponed to Aug. 31, 2005. The hearing had been set for Dec. 17 after Fiallo pleaded guilty to a single federal charge in U.S. District Court on Sept. 15. Assistant U.S. Attorney William Morse said in a motion to delay sentencing that Fiallo “is cooperating in the prosecution of Robert J. Gagalis and Bruce D. Kay, each of whom was charged with multiple counts of securities fraud and other offenses.” Washington, D.C.: Sen. John E. Sununu, R-N.H., is speaking out against the Securities and Exchange Commission regulation requiring the registration of hedge fund advisers. The SEC rule, adopted in July, requires all hedge fund advisers with assets in excess of $25 million and more than 14 individual investors to register with the SEC under the Investment Advisers Act of 1940. Sununu said there was no evidence to suggest that compulsory registration for all advisers would lead to better protection for investors. Sununu also said he was concerned about the cost to the hedge fund industry of putting into effect new compliance systems. Exeter: Tyco International Ltd.’s remaining operation in Exeter, the Engineered Products and Services headquarters, will move to Princeton, N.J., effective May 1, the company announced. Tyco has yet to decide how many of its 50 support staff and managerial employees will be transferred. The decision depends primarily on the number of those willing to relocate, and the outcome of a company reorganization, a company spokesman said. New York: New Hampshire state bonds issued the week of Dec. 13 received an “AA,” or “very strong,” rating from Fitch Ratings. The $60 million in general obligation capital improvement bonds consisted of $30 million 2004 series A and $30 million 2004 series B. Both series of bonds are due April 1, 2025. Concord: The state’s seasonally adjusted unemployment rate continued its downward trend for the fifth month in row, dropping 0.3 percentage points to 3.1 percent in November, according to the state’s Department of Employment Security. Since January, the rate has dropped a full percentage point. Washington, D.C.: The U.S. Securities and Exchange Commission has requested documents from “numerous” companies under a broad investigation of businesses that participated in the United Nations’ now-defunct oil-for-food program in Iraq during the 1990s, according to people with knowledge of the inquiry. Among the companies that have acknowledged receiving such requests is Tyco International Ltd. The SEC probe is independent of similar investigations, including an independent U.N. inquiry being led by former Federal Reserve Chairman Paul Volcker. Boston: Tom Rath, founder of the Concord law firm of Rath, Young & Pignatelli, has been elected chairman of the board of The New England Council, the nation’s oldest regional business organization. Rath said among his priorities will be to focus the council’s agenda on strategies that will help mitigate some of the economic challenges facing the region - such as rising costs of business and changes in workforce demographics. Concord: The city of Nashua cannot acquire Pennichuck Corp. subsidiaries that lie outside city borders, the Public Utilities Commission has ruled. In addition to Pennichuck Water Works, Nashua wanted to take two other subsidiaries of Pennichuck Corp. — Pennichuck East Utility and Pittsfield Aqueduct Co. — by eminent domain, and then have the Merrimack Valley Regional Water District manage all three. But in an eight-page decision, the PUC ruled that under state eminent domain law, the city only has the authority to pursue taking Pennichuck Water Works.
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