Tuesday, June 23, 2009

Daily Business Update from the Boston Globe

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Tuesday, June 23, 2009

Clear air travel security program shut down
The Clear registered traveler program, which promised to speed fliers through airport security lines, was shuttered last night. Clear, which began about four years ago, had enrolled more than 250,000 travelers who paid nearly $200 a year and operated...

Madoff requests leniency in sentencing
Bernard Madoff's lawyer asked for leniency from the judge who will sentence him to jail on Monday, appealing to him for a prison term of 12 years, rather than the 150-year maximum term the convicted swindler could receive under the...

Boston Scientific device hits goal in heart failure trial
Boston Scientific Corp., the Natick medical device maker, said on Tuesday that a large clinical trial showed early intervention with implantable devices called cardiac resynchronization therapy can slow the progression of heart failure. Shares of Boston Scientific rose 7.8 percent...

Ex-fund manager liable for insider trading
A former manager of fixed income mutual funds for Massachusetts Financial Services Co was found liable for insider trading of 30-year Treasury bonds, federal securities regulators said Monday. Steven Nothern, former MFS senior vice president, was accused of generating some...

Home sales fall, but price drops are not as steep
(File photo: Donna McWilliam/AP) Massachusetts housing prices continued to fall at a double-digit rate last month as foreclosure sales put downward pressure on the market, according to new data released today by Warren Group, a Boston real estate tracking...

Today in Globe Business
Broker aided Madoff, US says Boston broker Robert M. Jaffe was a key source of fresh investor cash for Bernard L. Madoff, federal regulators alleged yesterday, steering $1 billion in client funds to the man who was conducting the biggest...

Monday, June 22, 2009

Agreement with Globe is near, union leader says
The Boston Globe and the paper?s largest union went another day without an agreement, but the union president said the two sides are close to finalizing a pact. Negotiators from the Boston Newspaper Guild, the Globe, and the Globe?s owner,...

Saying it is owed discounts, Mass. sues drug maker
Massachusetts Attorney General Martha Coakley has filed a complaint in federal court alleging drug manufacturer Wyeth failed to give the government required discounts. By law, pharmaceutical companies must provide the same discounts and rebates to state Medicaid programs as they...

Editor, five others out at Boston magazine
Boston magazine has laid off six people, including James Burnett, the magazine's editor, and is implementing a one-week unpaid furlough for current employees. Burnett declined to comment in an interview today. A release from the publication named Minnesota Monthly...

Harvard endowment executive to leave, source says
The head of domestic fixed income at Harvard University?s endowment plans to leave at the end of the month, according to a Harvard official who spoke on condition of anonymity because the university doesn?t discuss personnel matters. Marc Seidner had...

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