Business and Economy

Tar sands oil
5:02 pm
Thu November 20, 2014

Federal Regulators Flag Pipeline Risks Linked to Reversing Flow

Protesters picket last year against any effort to bring tar sands oil to South Portland for export.
Credit File photo / MPBN

SOUTH PORTLAND, Maine - Federal safety regulators are alerting pipeline operators about the possible risks associated with reversing the flow of oil and gas in their systems. In a recent advisory, the Pipeline and Hazardous Materials Safety Administration also says switching product or flow reversal "may not be advisable" in some cases. This could have implications for the Portland-Montreal Pipe Line Company based in South Portland.

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Home sales
2:52 pm
Thu November 20, 2014

Maine Home Sales See Double-Digit Increase in October

Sales of Maine homes grew by double-digits in October, compared with the same month last year, though the median sales price fell slightly.

That's according to the Maine Association of Realtors. The trade group says sales of single-family existing homes in Maine rose more than 26 percent this October, compared with October of 2013. Meanwhile, the media sales price for those homes inched down slightly, by 0.71 percent, to $175,000.  The median price means half the homes sold for more and half for less.

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FairPoint strike
2:21 pm
Thu November 20, 2014

Striking FairPoint Workers Rally at Vermont State House

MONTPELIER, Vt. - Many striking workers of FairPoint Communications say they're willing to stay off the job until they win what they consider to be a fair contract.

That was the sentiment of some of the workers who attended a Thursday rally at the Vermont Statehouse in Montpelier.

About 1,700 FairPoint workers from Vermont, New Hampshire and Maine have been on strike since Oct. 17.

Gov. Peter Shumlin appeared at the rally and told the workers he'd urged FairPoint officials to reach an agreement.

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State revenues
1:49 pm
Thu November 20, 2014

State Revenues Up Amid Slow Economic Growth

AUGUSTA, Maine - After the first four months of the budget year, state revenues are up $27.6 million above estimates.

Finance Commissioner Richard Rosen says the October revenue report was “strong” with overall tax receipts $17.7 million above projections.

“Corporate income tax collections look good, coming in above projections, strong on the individual income tax, other tax lines good," he told MPBN news. "Sales tax still coming in a little bit under from what we are projecting, although there are categories in the sales tax that continue to show strength.”

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FairPoint strike
10:45 am
Thu November 20, 2014

Striking FairPoint Workers to Rally at Vermont State House

MONTPELIER, Vt. - Striking workers of FairPoint Communications are going to be holding a rally at the Vermont Statehouse in Montpelier.

The noon rally Thursday is designed to highlight the strike of 1,700 FairPoint workers from Vermont, New Hampshire and Maine that began Oct. 17.

The most recent meeting between union representatives and the company earlier this week failed to make any progress.

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