SBA honors pub owner, tech-service firm leader

The U.S. Small Business Administration has recognized two Maine businesspeople for exceptional accomplishments.

Deborah Gustin, owner of the Irish Setter Pub in Presque Isle, was named the Women in Business Champion of the Year for Maine. She bought the pub in 2008 and added more Maine-produced ingredients and beverages, and outdoor dining in the summer.

“Although Deborah assumed ownership during a very difficult economic climate, the business has thrived year after year under her ownership,” said Craig Staples, vice president and commercial services officer for Katahdin Trust Co., who nominated Gustin for the award.

Also honored was Carl “C.B.” Smith, owner of Virtual Managed Solutions in Caribou. He received the SBA’s Veteran Small Business Owner of the Year award for Maine.

Virtual Managed Solutions provides businesses with technology services. The company started with four employees in 2008. Under Smith’s leadership, it now has 23 full-time and two part-time employees, and growing revenue.

Smith is a veteran of the Air Force, where he served as an air traffic control operator.

Smith and Gustin will be honored at an SBA reception on May 5 at Augusta Country Club.

Falling stocks may reflect pessimism about growth

U.S. stocks fell Wednesday, after a ninth straight quarterly gain, as weaker-than-estimated data on hiring and manufacturing reinforced concern that economic growth may be slowing.

The Dow Jones industrial average fell 77.94 points, or 0.4 percent, to 17,698.18. The 30-company index was down as much as 191 points. It’s down 0.7 percent for the year.

The S&P 500 index slid 8.16 points, or 0.4 percent, to 2,059.69. The index is now up 0.04 percent for the year.

The Nasdaq composite lost 20.66 points, or 0.4 percent, to 4,880.23. The tech-heavy index ended is up about 3 percent this year.

Companies added 189,000 workers to payrolls in March, figures from ADP Research Institute showed, fewer than the 225,000 economists surveyed by Bloomberg forecast. The data comes before the Labor Department’s report Friday in which economists predict nonfarm payrolls rose 245,000 last month with no change to February’s 5.5 percent unemployment rate.

A separate report showed factories expanded in March at the slowest pace since May 2013, a sign struggling overseas economies and cutbacks among oil producers are hindering U.S. manufacturing.

McDonald’s simplifying grilled chicken recipe

McDonald’s says it is simplifying its grilled chicken recipe to remove ingredients people might not recognize, marking the latest sign the company is rethinking its menu to keep up with changing tastes.

The company says it expects the new “Artisan Grilled Chicken” to be in its more than 14,300 U.S. stores by the end of next week, in products including a new sandwich, as well as existing sandwiches, wraps and salads.

It says the biggest change is the removal of sodium phosphates, which it said was used to keep the chicken moist, in favor of vegetable starch. The new recipe also does not use maltodextrin, which McDonald’s said is generally used as a sugar to increase browning or as a carrier for seasoning.

Jessica Foust, director of culinary innovation at McDonald’s, said the changes were made because customers said they want “simple, clean ingredients” they are familiar with.

– From staff and news services

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