New Hampshire Business Review - February-22 2013

Merrimack firm’s bookkeeper admits to bank fraud

A bookkeeper working for a small Merrimack-based excavation firm diverted more than $83,000 of the company’s money for her personal purposes and has agreed to plead guilty to bank fraud in exchange for a reduced sentence, according to a plea…

GTAT finishes the year with a big loss

GT Advanced Technologies finished the year with an awful fourth quarter, losing $159 million, or $1.34 a share, and ending fiscal year with a loss of $63 million, or 53 cents a share, the company announced Wednesday after the markets…

SBIR proposal workshop planned at UNH

A one-day Small Business Innovation Research National Science Foundation Proposal Workshop for early-stage science and technology companies that want more information about the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs will be presented March…

Two ex-Cabletron execs settle civil charges with SEC

Two top executives of the former Cabletron Systems have settled civil charges of securities fraud with the U.S. Securities and Exchange Commission without having to pay any penalty, while the SEC pursues monetary civil damages against a low-level executive who…

Ex-Cabletron execs settle SEC civil charges

Two top executives of the former Cabletron Systems have settled civil charges of securities fraud with the U.S. Securities and Exchange Commission without having to pay any penalty, while the SEC pursues monetary civil damages against a low-level executive who…

N.H. seeks to launch state defense industry consortium

The New Hampshire International Trade Resource Center is launching a consortium next month that aims to unite the roughly 300 New Hampshire companies that work in the aerospace and defense industry. The New Hampshire Aerospace and Defense Export Consortium has the goal of helping defense and aerospace companies from all around the state to increase their foreign exports. "I knew that we had companies in all different points in the supply chain -- I just didn't realize how many there were, just about 300," said Tina Kasim, program manager for the ITRC at the state Department of Resources and Economic Development. "That's a good number for us to start with," she added, saying the timing is right for such a consortium.As domestic sales lag because of cutbacks in the defense industry -- including potential federal cuts related to the so-called sequestration -- "we know there are opportunities internationally, and we want to give our companies the chance to experience that and balance out their business cycles," said Kasim. The consortium will be funded through a $300,000 federal State Trade and Export Promotion program grant that the state received last year to help New Hampshire businesses to begin or to increase their exporting. The consortium will be especially beneficial to small companies that don't have the time or resources to research exporting opportunities by providing them with marketing support, market research and mentorship, said Kasim. "For small companies that haven't even ever exported, we'll have other exporters in the group that will be able to guide them through the process," she said. The trade center is planning two free presentations next week to introduce the consortium: Tuesday, March 5 at 10 a.m. at Great Bay Community College, Portsmouth; and Thursday, March 7 at 1 p.m. at the DRED's offices in Concord. For more information about the consortium, or to RSVP to attend a presentation, contact Kasim at 603-271-8444 or tina.kasim@dred.state.nh.us