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Mother Nature Brings Newington Electric Co. Back From the Brink
Wednesday, February 15, 2012
Connecticut’s Newington Electric Company was on the verge of collapse over a year ago. But then, mother nature stepped in and helped turn the tide.
Owner Ed Ingalls told Fox News’ Julie Banderas on Wednesday that between 2007 and 2009, he thought he was going to lose his family-owned business for good, being forced into cut-backs, laying off myriad workers.
“It was terrible,” he said. “Back in 2007 we thought it was just another slowdown … little did we know it was going to be the biggest recession since the Great Depression.”
But after Hurricane Irene took its toll on the state last year, Newington came back in a big way with its generator business once again booming. Not only did profits head back up, but Ingalls said the company also hired back most of the people they’d originally been forced to lay off. Talk about a success story! Get all the details below.
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