The Portland-based company expects earnings to be down at least 2% for the first three months of this year.
Peter McGuire
Peter McGuire is a business reporter covering Maine trade, transportation and tourism. A proud native of the western Maine mountains, there is a good chance he’d rather be playing outside. Peter has covered local news for Maine newspapers in Oxford County, Brunswick, Waterville and Portland. He holds a bachelor’s degree in history from Dalhousie University in Halifax, Nova Scotia and a Master’s Degree in International Relations from Boston University. He lives in Biddeford with his wife Stephanie and brown rescue dog named Emmy Lou.
Posted inBusiness, Local & State, News
As construction costs climb, key projects shrink and taxpayers’ burden grows
Maine and its cities mirror a national trend, with a labor shortage driving up bids, while agencies scale back work on roads, bridges and schools.
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Posted inBusiness, Local & State, News, Politics
Two sides clash on bill to make producers pay for disposal of packaging
Supporters tell lawmakers that making producers pay to dispose of packaging waste would improve recycling programs and help taxpayers. Businesses and national trade groups say it would be expensive, disruptive and hard to follow.
Posted inBusiness, Local & State, News
Volkswagen files lawsuit to terminate Saco dealership contract
The automaker claims Prime Automotive Group’s parent company, GPB Capital Holdings, violated a franchise agreement when it fired former CEO David Rosenberg.
Posted inBusiness, Local & State, News
Maine gets $6.3 million for substance abuse job training
A two-year federal grant will help train treatment workers and prepare addiction sufferers for the job market.
Posted inBusiness, Local & State, News
Public takeover of Maine’s electric utilities could bring higher rates, tax revenue losses
But the switch could lead to lower rates over 30 years, according to an analysis by independent consulting firm London Economics.
Posted inBusiness, Local & State, News
New tax incentive would boost affordable housing construction
Gov. Janet Mills is expected to sign into law a bill to create the state’s first tax credit for affordable and low-income housing projects.
Posted inBusiness, Local & State, News, Politics
Pro-labor groups want Maine to crack down on forced arbitration
As these binding agreements become more common as a condition of employment, lawmakers debate a measure that would effectively deputize private attorneys to take employers to court in state labor and discrimination cases.
Posted inBusiness, Local & State, News
Opponents of CMP power line submit signatures for referendum
The opposition group, No CMP Corridor, says it has enough signatures to force a statewide vote, but legal experts say the move to overturn a regulatory body’s decision is unprecedented.
Posted inBusiness, Local & State, News
Verso shareholders approve sale of Jay mill
The paper company offloaded two paper mills, one in Maine and another in Wisconsin, to a privately held specialty paper company.