FairPoint buys 104 vehicles from Rowe Ford dealership

Rowe Ford Sales of Westbrook has closed a $1.8 million deal to provide 104 cars, trucks and vans to FairPoint Communications, a provider of phone, Internet and cable television services.

The vehicles, which include bucket trucks and the compact Focus, will partly upgrade FairPoint’s 1,500-vehicle fleet in Maine, New Hampshire and Vermont, said FairPoint spokesperson Jeff Nevins.

FairPoint’s last large vehicle purchase was in 2008, Nevins said. Rowe also landed that deal.

Bob Whiting, Rowe’s commercial sales manager, called such a large sale relatively uncommon in New England, though he said he sells to other telecom companies.

Whiting said Rowe provided sales incentives to FairPoint but that his relationship with FairPoint’s buyers was instrumental in closing the deal.

Whiting added that he has worked for three years with FairPoint and that closing the sale has been “virtually a full-time job.”

FairPoint also said it purchased 70 vehicles worth $1.7 million from Grappone Automotive Group, near Concord, N.H.

Haven’s Candies to host open house in Westbrook

Haven’s Candies will host its annual Columbus Day Open House from 9 a.m. to 1 p.m. on Monday at its Westbrook store on Route 22.

The event will include a factory tour, candy-making and samples of candy. The event is free and open to the public.

For more details, call Andy Charles at 772-1557 or go to www.havenscandies.com.

GM, UAW reach wage deal at Michigan small-car plant

General Motors and the United Auto Workers have reached a cost-cutting deal that could accomplish what once seemed impossible: Turning a profit on subcompact cars made in the United States.

The deal could cut in half the hourly wage of some longtime UAW workers at a factory in Orion Township, Mich., the first time the union has agreed to a pay cut for workers who are not new hires.

GM says it will make a profit selling the Chevrolet Aveo, a revamped subcompact to be built at the plant starting next year.

Most other automakers, including GM’s main rival Ford Motor Co., build subcompacts in Mexico or other countries with far lower labor costs. U.S.-based automakers have struggled for years to make money on small cars.

Alcoa’s third-quarter profit dips 21 percent on costs

Alcoa Inc. said Thursday its net income slid about 21 percent in the third quarter on higher foreign exchange and energy costs.

The Pittsburgh aluminum maker on Thursday reported net income of $61 million, or 6 cents per share, for the three-month period ended Sept. 30. That compares with earnings of $77 million, or 8 cents per share for the same period last year. Revenue increased 14.6 percent to $5.3 billion.

The results beat Wall Street expectations of 5 cents a share on revenue of $4.95 billion.

Alcoa is one of the first companies to report financial results for the quarter, and economists use its results to get an early read on the health of the economy.

30-year mortgage rates at lowest level since 1971

Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.

The average rate for 30-year fixed loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That’s the lowest on records dating back to 1971 and down from 4.32 percent the previous week.

The average rate on 15-year fixed loans, a popular choice for refinancing, dropped to 3.72 percent from 3.75 percent. That was lowest on records dating back to 1991.