IPO market flexes muscle raising $10B in 1 day

 

 

NEW YORK (AP) — There is growing evidence that the market for initial public offerings is rebounding after essentially disappearing at the height of the credit crisis as two new issues raised a combined $10 billion Wednesday.

However, analysts say the market's re-emergence isn't open to every company, and that only the strong can successfully launch stock sales right now.

"It's still very much of a company-by-company situation," said Francis Gaskins, president of IPOdesktop.com.

L-A CA$H Coalition receives award

LEWISTON — The Lewiston-Auburn CA$H Coalition, of which Lewiston has taken a leadership role since 2004, received an Outstanding IRS Partnership Award recently from IRS stakeholder relationship tax consultant Tess Armstrong.

Armstrong presented the award during a coalition brainstorming regarding the 2010 tax season. She praised the group for its consistent and effective community outreach in regards to the earned income tax credit, a federal benefit for low-to-moderate income workers.

Backwoods turning five

AUBURN — Backwoods Snowboard and Skateboard Shop at Garfield Road and Minot Avenue has been at that location now for five years. The shop offers all items needed for the winter sport, such as hard goods, apparel and accessories.

During the summer, owner Jeremy Petrocelli remodeled the facility to double the size and increased inventory by 30 percent. The shop is currently open for business and will be holding a grand opening of the new facility at some point in October.

Oxford Networks to leave cable business

LEWISTON — Oxford Networks is getting out of its own cable business and into DIRECTV.

On Tuesday, the local company started enticing existing customers to DIRECTV by pointing to products it hadn't been able to offer, namely high-definition channels and digital video recording. The pitch was delivered to customers' mailboxes via a black tote that can be draped over an armchair and holds TV remotes.

Chamber breakfast event date set

LEWISTON — The October Androscoggin County Chamber of Commerce breakfast program will feature MaryAnn Amrich of the Maine Center for Disease Control who will offer "The Swine Flu: What You Need To Do in the Workplace."

The program will be held at 7:15 a.m. on Oct. 8 at the Hilton Garden Inn Auburn Riverwatch. Call 783-2249 to reserve a spot. There is a nominal fee for attendance.

Dr. Sunday joins Western Maine Pediatrics

NORWAY — Timothy A. Churchill, president and chief executive officer of Western Maine Health, is pleased to announce the recent addition of Jennifer Sunday, DO, to the staff at Western Maine Pediatrics.

Sunday was most recently assistant clinical professor of pediatrics at Oklahoma State University. She received her medical degree and completed her residency at Oklahoma State University Center for Health Sciences. She is board certified in pediatrics by the American Osteopathic Board of Pediatrics.

She lives in Norway with her husband.

Rand gains Red Cross appointment

AUGUSTA — The American Red Cross in Maine announces the appointment of Phyllis Arnold Rand as the Red Cross Veterans Affairs Voluntary Services representative to the Togus Veterans Administration Medical Center in Augusta.

Rand, the daughter of a retired Vietnam veteran, is a volunteer for the Red Cross's Services to Armed Forces, and is the Red Cross's Volunteer State Disaster Relations liaison. She is an environmental specialist for the Maine Department of Environmental Protection. She lives in Lewiston with her husband and their children.

Allen promoted at Western Maine Health

NORWAY — Barbara Allen has been appointed vice president of development and community relations for Western Maine Health, including the Stephens Community Healthcare Foundation.

Allen has served as a member of the senior management team since 2006, and has been affiliated with Western Maine Health since 1993, most recently as director of development and community relations and formerly as director of medical affairs.

Financing help for your small business

Nothing good in life comes easily, and that includes getting financing for your small business.

Despite advertisements to the contrary, no federal government agency — including the Small Business Administration — offers grants to start or expand small businesses. Most foundations, corporations and private institutions that sponsor grant programs follow the same policy, except in cases where the business involves development of a new technology or is a nonprofit organization.

FMH adds new imaging system

FARMINGTON — Franklin Memorial Hospital has purchased a Siemens Symbia S nuclear medicine camera imaging system. The new system is ideal for the early detection and staging of cancer, heart disease and other hard-to-diagnose disorders.

CMCC welcomes new staff members

AUBURN — Central Maine Community College President Scott Knapp announces the following staff appointments:

Gray joins Franklin Chrysler

FARMINGTON — Wally Backus, owner of Franklin Chrysler, 484 Wilton Road, has announced that Steve Gray has joined Franklin Chrysler Inc. as general manager. He will oversee all aspects of the dealership's day-to-day business.

Gray brings with him more than 21 years in the automobile business and, most recently, eight years in the banking and insurance field. Many will remember him from the former Gray Ford Sales of Farmington and Knapp Brothers of Kingfield.

He lives in Farmington with his wife and daughter.

Chamber to hold overview event

LEWISTON — Chamber members are invited to a presentation from noon to 1 p.m. and lunch on Oct. 7 at the Chamber offices, 415 Lisbon St., Lewiston. "Know Your Chamber" will also include a half-hour for networking.

Chamber President Chip Morrison and the staff will be available to help members understand the benefits and opportunities available to a businessperson, a company and its employees with a Chamber membership. Tours of the Chamber offices will be offered.

Those interested in attending should call 783-2249, or e-mail: alice@androscoggincounty.com.

Tot Spot Child Care to open

AUBURN — Owner and operator Kasandra Mercier announces that The Tot Spot Child Care Center, 1000 Minot Ave., Auburn, will be opening its doors on Oct. 5. The Tot Spot is offering care for preschoolers older than six weeks. The staff have all had training in CPR and are first-aid certified. Some staff members have also had continuing education in related fields to child care.

The Tot Spot will be holding an open house from 10 a.m. to 2 p.m. on Oct. 3 for all families interested in seeing the center and learning about the services the Tot Spot provides.

SCORE offers workshops

SOUTH PARIS — The Oxford Hills Chapter of SCORE has scheduled workshops on planning for business start-ups. They will be held four successive Wednesdays from 6:30 to 8:30 p.m. during October at Oxford Hills Comprehensive High School, 256 Main St.

Topics are: "Preparing A Business Plan," Oct. 7; "Marketing," Oct. 14; "Cash Flow Projection," Oct. 21; and "Financing A Small Business," Oct. 28.

Chamber brown bag event date set

LEWISTON — The Androscoggin County Chamber of Commerce will host a Brown Bag Roundtable Discussion event for its members from noon to 1:15 p.m. on Oct. 6 at The Chamber office, 415 Lisbon St., Lewiston.

The topic for discussion will be electronic communications. The facilitator for the event is Dave Griffiths of Dave Griffiths Writing Services based in Mechanic Falls.

Italian firm buys Diamond Phoenix

LEWISTON — Diamond Phoenix, a 60-year-old company on Alfred Plourde Parkway that designs, manufactures and installs material-handling systems, has been bought by an Italian company. Diamond Phoenix is expected to stay at the location and remain, at least initially, under the same name.

Wilton CareerCenter lists October workshops

WILTON — The Wilton CareerCenter will hold free workshops for the public in October. They will be held at the center's offices at 865 U.S. Route 2E, and will begin promptly at listed times. Registration is required.

"CareerCenter Employment and Training Orientation," Every Monday (except Oct. 12), 10 a.m.-noon. An explanation of training programs and career exploration. This workshop also provides a brief introduction to services at the Wilton CareerCenter.

Munsey earns accreditation

LEWISTON — Julia Munsey, marketing and public relations specialist with Oxford Networks of Lewiston, has successfully completed the examination for accreditation in public relations, entitling her to use the APR professional designation.

The announcement was made by the Universal Accreditation Board, a consortium of nine professional communication organizations that directs this competency certification program.

Dislocated worker workshop dates set

ORONO — The Maine Educational Opportunity Center and the Maine Department of Labor are teaming up to provide free Dislocated Workers Pathway to College workshops at all CareerCenters in the state.

The workshops will cover the new president's training initiative, which allows dislocated workers to continue receiving unemployment benefits while in approved training programs. This workshop will provide information on educational opportunities, including college admission steps and paperwork, financial aid basics, and resources that are available for assistance.

Pumpkin Land moves, expands

MECHANIC FALLS — Pumpkin Land, a popular fall attraction originally located at Chipman Farm in Poland, has moved to a new location under new ownership at Harvest Hill Farms on Route 26 in Mechanic Falls, and opens Saturday, Sept. 26.

After about 15 years of growth, owners Doug and Elaine Chipman decided to turn the operation over to Peter and Kathie Bolduc, owners of Harvest Hill Farms, to continue and expand the monthlong Pumpkin Land.

Central Distributors celebrates 75 years

LEWISTON — More than 150 guests attended the Central Distributors' 75th anniversary celebration at the Ramada Inn in Lewiston recently.

Central Distributors, located in Lewiston, is a full-service beverage wholesaler. It services beverage retailers all over the state with a range of products, including many popular beer, wine and nonalcoholic brands.

Women’s Fitness closing, Total Changes opening

AUBURN — Barbara Fogarty is closing one business and opening another.

Women's Fitness & Personal Training is closing at noon Friday, she said. The gym has been in the area for 28 years, she's owned it for 21.

On Oct. 5 she'll open Total Changes Personal Training with a base of operations at Colonial Ridge, a condominium development on East Hardscrabble Road with a wellness center. Fogarty said there she'll focus exclusively on personal training, life coaching and nutritional counseling.

Boulanger named Ski Patrol director

NEWRY — Sunday River announced the promotion of Steve Boulanger to director of Ski Patrol. Boulanger has served on the Sunday River team for 11 years, the last eight as a ski patroller.

This past summer, Boulanger served as the bike park manager for Sunday River and was instrumental in the design and implementation of the resort's new six miles of terrain, including two miles of much-needed beginner trail.

Norway Savings wins honors

NORWAY — Norway Savings Bank has received one of the nation's most prestigious honors for financial marketing by winning two American Bankers Association's 2009 Financial Marketing Awards.

Norway Savings Bank earned the Financial Marketing Excellence Award, which is given to the bank with the best campaign overall, and was also awarded for its branding campaign, Colorful Solutions, in the Brand Campaign category among banks of similar size. The awards were presented Sept. 14 in San Antonio, Texas.