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May 30, 2016 Edition
Focus on Employment/HR/Benefits

Help wanted: Tyler, Wayfair and SaviLinx searching for 1,700 workers

James McCarthy

The prospect of hiring up to 550 new workers over the next decade, including dozens of highly coveted software developers and IT specialists, isn't keeping Tyler Technologies' Christopher Hepburn and Robert Sansone up at nights.

  • A lightbulb moment leads to the founding of True Course Yachting

    Jennifer Van Allen

    Time and again, Ben Davis met boat owners who loved sailing, but not the time-consuming upkeep involved in cleaning their boats, preparing them for launch and decommission and transporting their boats between different ports. Davis knew that he was uniquely suited to meet those needs.

  • Focus on Employment/HR/Benefits
    Focus on Employment/HR/Benefits

    The Via Agency joins Maine's growing ESOP roster

    Jennifer Van Allen

    Like a lot of small business owners, The VIA Agency founder and Chairman John Coleman didn't relish the prospect of a giant out-of-state operator swallowing advertising agency he spent 23 years building. An Employee Stock Ownership Plan offered a promising alternative.

  • Fed science, engineering funding up for first time in five years

    Lori Valigra

    Maine fared last in federal funding among the six New England states, with $38.5 million in fiscal 2014, down significantly from the $52 million in fiscal 2013 for all science and engineering activities.

  • In Short
    In Short

    IN SHORT

    New hiresThe Ecology School in Saco hired Bryan Matluk as development director.

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.”

More Information