PORTLAND, Maine — If people arrived as pessimists at a forum Thursday morning about the future of Maine’s paper and pulp industries, most left with at least a bit more optimism. With recent headlines focused on the closure of the East Millinocket paper mill, layoffs at… Read More
The soon-to-be CEO of the Montreal, Maine and Atlantic Railway on Monday afternoon met for the first time with Colette Roy Laroche, the mayor of Lac-Megantic, Quebec, the site of the train crash last summer that destroyed the village’s downtown and killed 47 people. The meeting,… Read More
BANGOR, Maine — Bangor Savings Bank on Tuesday morning announced the retirement of its CEO, James Conlon, and named a successor who will next year take the reins of Maine’s largest locally owned bank. Conlon, who has worked at Bangor Savings Bank for nearly 20 years,… Read More
Verso Paper’s $1.4 billion acquisition of NewPage Holdings Inc. appears to be closer to falling apart after NewPage made clear last week that it would not waive certain refinancing provisions contained in the original merger agreement, and would be forced to “re-evaluate” the deal if Verso is not… Read More
GORHAM, Maine — The federal government is proposing new emission standards for wood-burning stoves that some in the industry say will increase the cost of stoves for consumers and discourage people from investing in new, cleaner burning stoves — an effect contrary to the government’s intended goal. Read More
PORTLAND, Maine — Ace Hardware last week acquired a wholesale distributor to hardware stores and lumber mills that was founded in Portland in 1842 and has been owned by the same family for the past 80-plus years. Employees at Emery-Waterhouse’s headquarters and distribution facility in Portland… Read More
AUGUSTA, Maine — The Maine Bureau of Insurance on Thursday approved a rate decrease for workers’ compensation insurance that is expected to save Maine businesses $15.2 million. The bureau based its approval on a recommendation the National Council on Compensation Insurance, a rating organization that analyzes… Read More
Moody’s Investor Services has downgraded some of Maine’s transportation bonds because of uncertainty surrounding the future reliability of federal transportation funding. Maine’s bonds are Grant Anticipation Revenue Vehicles, or GARVEEs, and are among those from 16 states that Moody’s on Tuesday downgraded and ascribed a negative… Read More
PORTLAND, Maine — Industrial wind developer First Wind announced Tuesday that it has partnered with a coalition of not-for-profit organizations dedicated to preserving the Appalachian Trail to create a $700,000 land conservation fund. The conservation fund will protect the Appalachian National Scenic Trail viewshed lands in… Read More
The company in the process of buying Montreal, Maine and Atlantic Railway plans to hire more people and regain business the railroad lost after last summer’s disaster in Lac-Megantic, Quebec, although it is unclear whether the company will return to transporting oil. The Central Maine and… Read More
It’s sometimes a dangerous game to play to try to understand the original intent of legislators when they pass certain laws. In 2002, a law was passed that prohibited the owner of the Millinocket and East Millinocket paper mills from entering into an agreement which would… Read More
The owner of the East Millinocket paper mill has said that plans to reopen the mill hinge on the Maine Legislature acting quickly to change what the company calls an out-of-date law that places its operations at a competitive disadvantage. Last week, news surfaced… Read More
HERMON, Maine — Once the sale of the bankrupt Montreal, Maine and Atlantic Railway is complete, that name will be filed away in the history books. Railroad Acquisition Holdings, the affiliate of New York-based investment firm Fortress Investment Group that is in the process of buying… Read More
AUGUSTA, Maine — The Maine House of Representatives on Thursday approved a bill that would give Maine entrepreneurs more leeway in how they raise capital to grow their businesses. The bill, “An Act To Increase Funding for Start-ups,” would make it possible for… Read More
The owner of the Maritimes and Northeast Pipeline has announced plans to retrofit its pipeline to allow it to carry natural gas from southern New England into Maine, the opposite direction of the pipeline’s original purpose. Houston-based Spectra Energy, which is majority owner of the Maritimes… Read More
ATLANTA — The Home Depot on Wednesday announced that it would hire up to 450 people in Maine as it gears up for the busy spring season. The Atlanta-based home improvement company currently operates 11 stores in Maine, from Biddeford to Bangor, which employ roughly 1,600… Read More
BANGOR, Maine — United Airlines’ decision to return to Bangor after a 20-year hiatus hinged on a number of factors, including the city’s promising economy, according to those familiar with the airline industry. On Monday, Bangor International Airport announced that United Airlines was returning… Read More
Much has been written about the challenges facing the paper industry in Maine. In most cases, however, all paper manufacturers are lumped together without regard for the specific types of paper they produce. The majority of the paper produced in Maine is what’s known as coated… Read More
AUGUSTA, Maine — Employers in Maine are expected to save $15.2 million on workers’ compensation insurance this coming year, thanks in part to a reduction in on-the-job injuries and the ability of the state workers’ comp board to control medical costs. The Maine Bureau of Insurance… Read More
PORTLAND, Maine — A federal judge has ordered The Inn at Brunswick Station to change its name because it’s too similar to that of nearby The Brunswick Inn. Any new name can also not include both the words “Brunswick” and “inn” in the title, the judge said. Read More
