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New Hampshire Business Newsreel

July 22. 2013 6:36PM
A mural donated by St. Mary’s Bank to the Manchester Historic Association illustrates the early settlers on the banks of the Merrimack River. (COURTESY)

St. Mary’s donates mural to Manchester Historic Association

MANCHESTER — St. Mary’s Bank has donated the lobby mural in its main headquarters to the Manchester Historic Association, which will loan it for an extended period to the American-Canadian Genealogical Society, the credit union announced Monday.

The large mural, which has been in St. Mary’s McGregor Street location since its opening in 1970, was removed on Monday and will be installed at American-Canadian Genealogical Society’s building on South Elm Street.

The credit union has recently moved into its new facility adjacent to the former headquarters location on McGregor Street in Manchester. The old building is to be demolished, and construction of the multi-lane drive up for the new facility will begin.

“The mural’s installation at the American-Canadian Genealogical Society recognizes its significance to the Franco-American community,” said Aurore Easton, executive director of the Manchester Historic Association, in a news release.

The work depicts Samuel De Champlain and discoveries in the Seacoast area and illustrates the early settlers on the banks of the Merrimack River. Its text is French, reflecting the cultural heritage of the nation’s first credit union, which was founded to meet the needs of the largely French-speaking West Side community.

Home sales take a breather, but prices hit 5-year high

WASHINGTON — U.S. home resales unexpectedly fell in June after two straight months of hefty increases, but a surge in prices to a five-year high suggested the housing market recovery remained on course.

The National Association of Realtors said on Monday home sales fell 1.2 percent to an annual rate of 5.08 million units. Still, sales remained the second highest since November 2009.

May’s sales pace was revised down to 5.14 million units from the previously reported 5.18 million units. Economists polled by Reuters had expected sales to rise to a 5.25 million unit pace in June.

Sales were up 15.2 percent from their year-ago level.

ReutersCybercrime costs economy up to $140B Cyberattacks may be draining as much as $140 billion and half a million jobs from the U.S. economy each year, according to a new study that splashes water on a previous estimate of $1 trillion in annual losses.

“That’s our best guess,” said James Andrew Lewis, the director of the technology and public policy program at the Center for Strategic and International Studies.

The center completed the study with the help from cybersecurity giant McAfee and came up with the new figures by relying on models, such as those used to estimate the economic effects of car crashes and ocean piracy, instead of surveys of companies.

Four years ago, McAfee and then politicians and other industry leaders started citing a $1 trillion figure that had been based on surveys. Lewis called reliance on surveys faulty, and McAfee was quick to say on Monday that it commissioned the new study to refine the widely cited and often-criticized tally.

Los Angeles Times


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