Wednesday, July 1, 2009

Daily Business Update from the Boston Globe

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Wednesday, July 1, 2009

HFF arranges financing for Center for Life Science
By Chris Reidy, Globe Staff Holliday Fenoglio Fowler L.P., or HFF, said it has arranged $350 million in financing for the Center for Life Science | Boston, a roughly 700,000-square-foot research facility in the city's Longwood Medical Area. Working on...

LogMeIn shares rise in early trading
By Chris Reidy, Globe Staff Shares for LogMeIn Inc. got off to a good start during the Woburn firm's first day as a public company. LogMeIn, which makes software for remotely controlling personal and business computers, had priced its initial...

Crabtree & Evelyn files for Chapter 11 protection
Associated Press Soap and lotion seller Crabtree & Evelyn Ltd. says it filed for Chapter 11 protection on Wednesday, a victim of the recession and management missteps. The pressure of repaying debt forced the company to file for bankruptcy, acting...

Uno pizza promotion aims to help US troops
By Chris Reidy, Globe Staff Uno Chicago Grill, the Boston-based restaurant chain that is participating in a pizza airlift to US troops in Iraq and Afghanistan , said that it will also offer a special buy-one-get-one-free type promotion to its...

VC investment in green tech rises, report says
By Chris Reidy, Globe Staff Venture capital investment in green technologies totaled $1.2 billion in 85 deals in the second quarter of 2009, up from $836 million in 59 deals in the first quarter, Greentech Media Inc. said. Headquartered in...

Starbucks unveils "new and improved" menu items
(File photo: Robert Caplin/Bloomberg News) By Chris Reidy, Globe Staff Is the Hub ready for Oregon blueberries? Starbucks Corp., the Seattle company best known for its coffee, seems to think so - despite the fact that many locals may...

Biogen gains overseas rights to MS drug
Reuters Biogen Idec Inc. of Cambridge has acquired rights outside the United States to Acorda Therapeutics Inc.'s experimental multiple sclerosis drug, the companies said. Biogen Idec, which makes the multiple sclerosis drugs Avonex and Tysabri, will pay Acorda $110 million...

CombinatoRx, Neuromed agree to merge
By Chris Reidy, Globe Staff CombinatoRx Inc., a Cambridge biotechnology company that last year cut two-thirds of its work force, and Neuromed Pharmaceuticals Inc., a privately-held biopharmaceutical company, today announced they have entered into a definitive merger agreement under which...

Freddie Mac eyes Haldeman as CEO choice
The board of mortgage giant Freddie Mac has selected Putnam Investments chairman Charles E. "Ed" Haldeman Jr. as its top candidate for chief executive, the Wall Street Journal is reporting. The Journal cited "people familiar with the situation" as the...

Kendall Sq. is lone bright spot in local office market
By Chris Reidy, Globe Staff The second quarter's lone bright spot in the local office market was the East Cambridge/Kendall Square submarket, where 125,000 square feet of positive absorption was recorded, said Colliers Meredith & Grew, a Boston-based commercial real...

Harvard: Recession alters business landscape
By Chris Reidy, Globe Staff Harvard Business Review explores how the economic crisis has fundamentally altered the business landscape in a special July-August issue titled, "Managing in the New World." The issue includes input from more than 30 business and...

Today in Globe Business
School's out, but factoids are in As a trivia question, it would go like this: ?What profession is shared by a majority of the trivia night hosts in Central Massachusetts??? The answer: teacher. But they would never put that question...

Tuesday, June 30, 2009

Sanofi-Aventis to keep Cambridge, Canton sites
Sanofi-Aventis SA said today it will restructure global research and development operations by focusing on fewer diseases and combining research sites, but the French drugmaker plans to keep sites in Cambridge and Canton, which together have about 250 employees. The...

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