New York prosecutors allege GPB Capital Holdings CEO David Gentile and two others have been running a Ponzi-like scheme.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine, Morning Sentinel
Waterville’s O’Leary’s Fitness closing, will restructure as nonprofit
The boxing gym located at 192 College Ave. will close Feb. 17, 2021, as owner Mike Leary looks for a new space and transitions the gym to nonprofit status.
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Posted inBusiness, Maine, New England
Massachusetts man sues Market Basket over its coffee
The lawsuit claims the supermarket’s store brand coffee doesn’t yield nearly as many cups as it promises.
Posted inBusiness
Businesses face hard decisions on whether, when to hire
About one in six small businesses have closed their doors since the pandemic began.
Posted inBusiness, Health, Nation & World
McKinsey agrees to pay nearly $600 million for its role in opioid crisis
The payments are earmarked for abating the raging overdose and addiction crisis that has deepened during the coronavirus pandemic.
Posted inBusiness, Nation & World, News, Religion and Values
Sitting on billions, Catholic dioceses amassed taxpayer aid
As the pandemic began to unfold, scores of Catholic dioceses across the U.S. received aid through the Paycheck Protection Program while sitting on well over $10 billion in cash.
Posted inBusiness, Maine
Maine jobless claims dip slightly but remain high
The state received about 2,700 new or reopened claims for unemployment benefits last week, down slightly from 2,800 the week before.
Posted inBusiness, Nation & World, News
U.S. unemployment claims fall but job cuts grind on
Thursday’s report reflects a U.S. job market that is still suffering from the pandemic, with hiring having weakened for six straight months.
Posted inBusiness, Maine
Solar industry baffled, angry as CMP cites need for costly upgrades
The utility told many developers last week that their projects are causing technical problems at power substations. One calls it ‘a titanic event’ that raises doubt about projects worth hundreds of millions of dollars.
Posted inBusiness, Maine
Maine lenders report less demand for latest round of pandemic relief loans
Reduced demand for Paycheck Protection Program loans is likely the result of stricter requirements, other funding options and the recovery of some industries.