Author: Bob Sanders

GTAT reports settlement of trade secret suit

GT Advanced Technologies has ended four years of litigation against an Italian citizen and a California rival company with a confidential settlement approved Tuesday by a U.S. District Court judge in Concord. The Nashua-based firm had charged that Poly Plant…

Bottomline earnings cloud has a silver lining

Portsmouth-based Bottomline Technologies reported that it didn't earn much money for its shareholders when it released its quarterly earnings last week, but it did beat expectations in its "core" income, getting a boost in share price that has lasted for…

Participants sought for financial literacy forum

The NH Jump$tart Coalition -- a nonprofit organization that works to improve the financial literacy of New Hampshire young people -- is putting together a statewide meeting of business leaders to address the financial education needs of Granite State children…

Further delay seen in foreclosure settlement funding approval

Housing activists are worried that differences between the Attorney General's Office and the lame-duck Republican-dominated Legislative Fiscal Committee -- which meets Thursday morning -- could delay spending New Hampshire's share of $10 million of mortgage fraud settlement money on programs…

11 New Hampshire businesses file for bankruptcy in October

The latest bankruptcy statistics show a general, but troublingly erratic, improvement in the New Hampshire economy. A surge of 50 bankruptcy filings on Halloween brought the number of October filings up to 314, continuing a year-over-year decline, but it was…

Private equity firm wraps up Presstek acquisition

The private equity firm American Industrial Partners on Wednesday completed its $26 million acquisition of the Presstek Inc., the printing equipment firm based in Connecticut with a major production facility in Hudson. The sale price amounted to 50 cents a…

White Mts. sees rise in earnings, pre-Sandy

White Mountains Insurance has been making money this year, so far, partly because the reinsurer did not have to pay the kind of catastrophic losses it paid last year. But Tuesday's earnings report -- the day after superstorm Sandy smacked…

GTAT laying off 40 N.H. workers in worldwide layoff

Nashua-based GT Advanced Technologies is laying off about 40 employees in New Hampshire as part of a 25 percent reduction in its worldwide workforce. The move was made, the company said Wednesday, in order to better face a "challenging 2013."…

Woodlands members OK credit union's merger with Northeast

Despite some opposition, Woodlands Credit Union members voted by a 3-2 margin on Saturday to merge the Berlin-based credit union with Northeast Credit Union of Portsmouth, the company announced Wednesday. The merged Northeast Credit Union will have assets of $800…

Unitil reports 3Q earnings increase

If you are a Unitil customer reading this on a computer this morning despite Hurricane Sandy, you might have benefited from the $2.5 million that the Hampton-based utility spent on vegetation clearing during the last nine months. And if you…

Ex-Cabletron exec reaches tentative settlement with SEC

Eric Jaeger, Cabletron Systems' former top lawyer, has tentatively settled charges of securities fraud with staff from the Securities and Exchange Commission, postponing a trial that was scheduled for next month in Concord. U.S. District Court Judge Steven J. McAuliffe…

Prison privatization faces an uphill battle

The plan to privatize New Hampshire's prison probably won't be approved by the Executive Council this year -- and will have a foe in the corner office next year, no matter who wins the gubernatorial race - putting the privatization…

HHS to seek new extension for Medicaid computer system

Department of Health and Human Services Commissioner Nicholas Toumpas wants to give Xerox Corp. more time to implement the state's new Medicaid Management Information System, that was originally supposed to be running at the end of 2007.But, Toumpas, promised, this…

It's back: SEC's Cabletron case set for November

Eric Jaeger, the former top lawyer and vice president at Cabletron Systems, may call on former Cabletron CEO Piyush Patel, former Cabletron chief financial officer David Kirkpatrick and Michael A. Skubisz, former CEO of a Cabletron spinoff company, to testify…

Bottomline execs got big pay raises in 2012

The top three executives of Portsmouth-based Bottomline Technologies earned $5.2 million in compensation in fiscal year 2012 -- more than a 50 percent increase over 2011, the company disclosed in its proxy. The nine members of the board of the…

Ex-AeroSat CEO sues over 2011 firing

AeroSat Corp., an Amherst-based company that makes antennas used in commercial aircraft to allow passengers to connect to the Internet and watch TV, fired its founder Michael Barrett last year and owes him at least $660,000, Barrett claims in a…

Q&A with WMUR-TV President and GM Jeff Bartlett

Jeff Bartlett, president and general manager of WMUR-TV since February 2001, has had a career that has taken him around the country, from Fayetteville, Ark., where he was president and general manger of KHBS/KHOG-TV before joining WMUR, to such landmark…

Four N.H. businesses file for bankruptcy in September

September bankruptcy filings dropped nearly 20 percent in New Hampshire from a year ago, continuing the 2012 downward trend. All told, there were 302 filings in September, six more than in August, when the number of filings dipped below 300…

Effects and limits of ACA explored at NHBR Health Care Forum

Dr. Aaron Carroll didn't exactly provide the most reassuring words to the hundreds of people attending the fourth annual NHBR Health Care Forum, who were there to learn more about how the Affordable Care Act will affect their business. Instead,…

GTAT details 'war chest' bond issue to potential investors

If you want to lend some money to a multimillion-dollar high-tech equipment company headquartered in New Hampshire, here's your chance. GT Advanced Technologies wants to borrow about $220 million at 3 percent interest. Investors would be able call in the…

Standex closes year in 'strongest financial condition'

It has been a good year for Standex International Corp., and therefore a good year for its executives, who earned a total of about $7 million in compensation in the last fiscal year, according to various filings with the Securities…

GTAT readies $175m 'war chest' bond issue

GT Advanced Technologies plans to raise $175 million to $200 million in a rather complicated bond issue, the Nashua-based company announced Monday. GTAT will be using the proceeds to build its "war chest" - in the words of spokesperson Ryan…

Does trade assistance for displaced workers work?

Jennylsa Wilson was a month away from her due date when Flo-Pro Inc. told her she had been let go, because -- she later learned -- the company shifted its manufacturing of car axles from its plant in Bedford to…

'Very good' bid entered for USA Springs

The bankruptcy trustee for USA Springs received a "very good" bid that's "in the neighborhood" of $7.5 million for the would-be water bottling company's assets -- a bid good enough to skip a planned auction and negotiate a deal by…

Presstek merger details revealed in proxy

Presstek Inc.'s top three executives could be paid a total of $3.2 million in severance if the proposed sale of the printing equipment manufacturer to the American Industrial Partners (AIP) private equity firm is completed, according to the preliminary version…

Is there potential in N.H. offshore wind generation?

Offshore wind turbines could one day supply four-fifths of New Hampshire's energy supply, according to a report released by the National Wildlife Federation. But Public Service of New Hampshire spokesperson Martin Murray thinks it's "highly unlikely" that such a scenario…

5 of 6 N.H. banks pay back TARP money, along with interest

Five of the six New Hampshire banks "bailed out" through the federal government's Troubled Asset Relief Program have paid back the government in full -- and then some, according to "Eye on the Bailout," a report by ProPublica, an investigative…

7 businesses file as Aug. bankruptcies fall

After a brief plateau in July, New Hampshire bankruptcy filings fell in August to below 300 -- a level not seen since 1998.In August, some 296 households and businesses filed for bankruptcy protection. That's 12 percent lower than July and…

Epsom Montessori school files for bankruptcy

Pathfinders Academy, a private Montessori school in Epsom owned by a Free State Project sympathizer, filed for bankruptcy protection Aug. 27 in U.S. Bankruptcy Court in Manchester. The academy's owner, Wayne Anderson of Manchester, also filed on behalf of Pathfinder…

Bottomline's latest acquisition is OKd

Bottomline Technologies has won regulatory approval to acquire Albany Software Ltd. for about $32 million, the latest in a series of acquisitions by the Portsmouth company as it expands its financial services business. The company said the deal - first…

USA Springs auction remains on schedule

USA Springs assets are up for auction again, with the same Sept. 14 bid deadline and the same scheduled Sept. 28 auction date. On Aug. 16, the U.S. Bankruptcy Court said the would continue on the same schedule that was…

Presstek to be acquired by private equity firm

Presstek Inc. is being acquired by an affiliate of private equity firm American Industrial Partners for 50 cents a share, the two companies announced Thursday. What AIP will do with the struggling Connecticut-based printing equipment manufacturer -- whose major production…

iCAD issues 1-to-5 reverse split

In the wake of a disappointing earnings release, iCAD issued a one-to-five reverse split Wednesday after trading hours to avoid being delisted from the NASDAQ exchange. The Nashua-based medical imaging company made the expected announcement 10 days before NASDAQ would…

GTAT posts rare quarterly setback

The slowdown in the solar industry -- particularly in China -- has finally caught up to GT Advanced Technologies, according to the company's last quarterly filing, which explained in detail why sales plummeted and profit margins shrank. The company --…

Sturm Ruger sales soar in 2Q

Sturm Ruger & Co. was getting so many gun orders that it couldn't build them fast enough last quarter, and its quarterly numbers reflect that. Even after suspending orders for the first two-thirds of the quarter the gun manufacturer sold nearly $120 million of firearms, up by half compared to the second quarter of 2011.

Presstek reports another loss

Presstek Inc. cut its losses by more than half last quarter despite the continual decline in revenue due to both a shrunken economy and a shrinking market for print media.