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June 1, 2015 Edition

Sputtering ahead: Soleras Advanced Coatings focuses on high-tech glass makers

Lori Valigra

The word “sputtering” may evoke images of a car engine choking before it fails, but in the high-tech world of advanced coatings, it's a high-speed, high-volume process where superfast ions hit a me

  • Focus on Small Business
    Focus on Small Business

    Aroostook County initiative touts potential of a 'forest products cluster'

    James McCarthy

    The Aroostook Partnership for Progress, a public-private organization created to spur economic development in Maine's northernmost county, is leading a grassroots effort to advance the forest products sector as a “cluster” with a strong potential

  • Change afoot on Main Street: Rebuilding of Helen's a bellwether of change in Machias

    Laurie Schreiber

    When Helen's Restaurant was destroyed by fire in July 2014, the loss had both a sentimental and economic impact on a community trying to become a destination rather than a drive-through town.

  • FAME bills emphasize economic and workforce development

    James McCarthy

    In his first legislative session as CEO of the Finance Authority of Maine, Bruce Wagner says his message to lawmakers emphasized the agency's effectiveness in supporting the creation of good-paying jobs through its economic development and educati

  • Maine entrepreneurs take setbacks in stride

    Peter Van Allen

    Fickle customers, fire, financing issues — Maine small businesspeople are well acquainted with these challenges.This issue of Mainebiz focuses on small businesses and it's chockablock with stories of comebacks and gritty successes.

  • These UMaine students would make Deming proud

    James McCarthy

    Two boats rest on the lawn outside the University of Maine's Advanced Manufacturing Center. It's a sunny May afternoon, a few days before commencement.

  • From napkin sketch to $20 million in sales: Owners of Sea Salt Lobster talk growth

    James McCarthy

    In just six years, Shawn McEwen and Morey Highbarger have gone from a simple napkin sketch to being co-owners of a Saco-based wholesale and retail seafood company, Sea Salt Lobster, with $20 million in annual sale

  • How To's
    How To's

    How to make priorities your top priority

    Jim Milliken

    Too busy? Too much to do? Not good. When your workload is greater than your capacity, you have no control over what bounces off the back of the truck. It could be the most important thing you should be doing today.

  • How To's
    How To's

    How to manage your focus and energy

    Doug Packard

    While business leaders work diligently at managing people and projects, most find it difficult to manage their own focus and energy.

  • In Short
    In Short

    Newsworthy people and performances

    New hiresFriends of the Presumpscot River in Westbrook hired Aaron Frederick as executive director. Frederick worked as a consultant since co-founding Rippleffect Inc. in Portland.

Today's Poll

Is it time for the Federal Reserve to start cutting interest rates?
Poll Description

Over the past several months, banks and other businesses have been looking for the Federal Reserve Board to cut interest rates, but the waiting game continues.

Basing its decision on new economic reports, the Fed on May 1 said it doesn’t plan to cut rates until it has “greater confidence” that inflation is slowing toward the central bank's 2% target. Three rate reductions have been projected for 2024, likely starting in June.

But for now, it appears the key borrowing rate in the U.S. will stay at a two-decade high of roughly 5.3%.

Keeping the rate so high for so long may tame inflation, but can also discourage new investment and business growth.

“The Fed is really stressing the banking industry,” said Andrew Silsby, president and CEO of Augusta-based Kennebec Savings Bank, in a Mainebiz story last month. “The economic environment is really quite difficult, but I haven’t quite figured out whether we’re through the storm or in the eye of the storm.”

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