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May 15, 2017 Edition
Focus on Education & Training

Job training: Maine Community College System syncs with businesses to get people working

Laurie Schreiber

Ralph Jellison was in his early 50s when he lost his job with the closure of Verso Paper Corp.'s mill in Bucksport in April 2015.

  • An inside look at IDEXX's 'culture of innovation'

    Renee Cordes

    Giovani Twigge, chief human resources officer at IDEXX Laboratories Inc. discusses the company's “culture of innovation” and approach to employee wellness.

  • Finding my way from Belgium to Biddeford

    Renee Cordes

    My day in Biddeford began at the Palace Diner, a cute-as-a-button eatery in a 1927 dining car. Maine's oldest diner was abuzz with activity that brisk March morning, but counter stools were wiped clean as soon as they were cleared.

  • Grohman's bill aims to boost MTI's role in creating strong innovation economy

    James McCarthy

    The scope of Maine Technology Institute's mission in supporting innovation and entrepreneurship in Maine would be broadened under a bill proposed by state Rep. Martin Grohman, D-Biddeford.

  • Opinion
    Opinion

    Retraining your way into a new line of work

    In the business world, life often imitates art. “Life” is a story in the Washington Post that says that interns at Facebook make $8,000 a month. How many of you had unpaid internships in college? I know I did.

  • In Short
    In Short

    IN SHORT

    New hiresBusiness Lending Solutions in Hampden hired Don Smith as assistant vice president and lending officer. Smith was previously commercial loan manager at Penobscot County Federal Credit Union.

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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