Friday, June 26, 2009

Daily Business Update from the Boston Globe

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Friday, June 26, 2009

IBM, former exec, trade charges
IBM accused its former mergers and acquisitions chief of misusing resources, as part of a lawsuit that seeks to remove him from his new job at rival Dell Inc. The suit claims the executive, David Johnson, violated a noncompete agreement...

Chelsea celebrates 100 years of meat and giving
The city of Chelsea will get an early start on the Fourth of July on Wednesday, July 1, as it dedicates a park to recognize the Monkiewicz family and their company, Kayem Foods. Monkiewicz Park is being established at the...

CNB Financial, United Financial to merge
CNB Financial Corp. of Worcester has signed a $25 million merger agreement with United Financial Bancorp of West Springfield. CNB said Thursday that it has terminated a previously-announced merger agreement with the parent company of Pittsfield-based Berkshire Bank. CNB will...

Today in Globe Business
Boston Scientific names Elliott CEO as Tobin steps down Veteran medical device executive Ray Elliott will take over as president and chief executive at Boston Scientific Corp. next month when Jim Tobin steps down after a decade as the Natick...

Thursday, June 25, 2009

State Street to manage $6 billion for Caxton
Boston financial giant State Street Corp. said today it has been selected to provide hedge fund administration services for about $6 billion in assets advised by Caxton Associates. State Street's hedge fund administration company, International Fund Services, will provide accounting,...

Two Massachusetts airports get federal stimulus money
Two Massachusetts airports are receiving federal funds to improve their runways as part of the American Recovery and Reinvestment Act. The Federal Aviation Admistration is giving the Massachusetts Port Authority $5.3 million to reconstruct Runway 9-27 at Logan International Airport;...

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