Thursday, July 9, 2009

Daily Business Update from the Boston Globe

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Thursday, July 9, 2009

General Dynamics gets contract to repair submarine
(File photo: AFP/Getty Images) Associated Press GROTON, Conn. - Defense contractor General Dynamics Corp. said Thursday its Electric Boat subsidiary received an $21.6 million contract modification from the Navy for procurement and repair work on the USS Hartford. The...

Outlook for hotel occupancy improves
By Katie Johnston Chase, Globe Staff There's bad news and not-quite-as-bad news in the hotel industry, according to forecasts by several local hospitality consultant groups. The bad news: Boston-area hotels are expected to have a 19.5 percent decline in revenue...

Broad Canal Walkway is now formally open
By Chris Reidy, Globe Staff The Broadway Canal Walkway in Cambridge's Kendall Square had its official opening today. The announcement was made by Twining Properties, a New York real estate company that is a developer in the area, and...

Discount fares drew heavy traffic for Southwest
By Paul S. Makishima, Globe Staff If you found yourself unable to access Southwest's site to score tickets yesterday there's a reason. The discount carrier's big 48-hour fall sale, which featured the cheapest fares the airline has offered since 1996,...

Logano joins Gillette's Young Guns NASCAR team
(File photo: Gregory Shamus/Getty Images North America) By Chris Reidy, Globe Staff Gillette, the Boston-based grooming brand, today announced that it has added NASCAR race driver Joey Logano (above) to its group of Gillette Young Guns Drivers. The group...

Workers at Union Hospital vote to join union
By Chris Reidy, Globe Staff More than 400 hospital workers at Union Hospital in Lynn have voted to join the Service Employees International Union, Local 1199 SEIU United Healthcare Workers East said. The union said it represents more than 340,000...

Abu Dhabi orders more Z Portal Systems
By Chris Reidy, Globe Staff American Science and Engineering Inc., a Billerica company specializing in X-ray detection technology, said it has received a $8.6 million follow-on order from Abu Dhabi Customs Administration for multiple Z Portal X-ray screening systems. "The...

Pedroia of the Sox signs on with Chevy dealers
By Chris Reidy, Globe Staff New England Chevy Dealers today announced that Red Sox second baseman Dustin Pedroia has signed on as the automotive group?s spokesperson. The deal was brokered by WEEI and WRKO, the radio partners of the...

BJ's Wholesale Club June same-store sales fall
Associated Press BJ's Wholesale Club Inc., the Natick-based warehouse-club operator, said that same-store sales fell 7.5 percent in June, hurt by lower gasoline revenue compared with a year ago. Analysts surveyed by Thomson Reuters, on average, expected same-store sales to...

Wal-Mart executive joins Staples team
By Chris Reidy, Globe Staff Staples Inc., the Framingham-based retailer of office supplies, announced the appointment of Amee Chande as senior vice president of strategy. In that job, she is responsible for working with senior management to develop all elements...

TJX reports strong June sales
(File photo: Stephan Savoia/AP) By Chris Reidy, Globe Staff TJX Cos., the Framingham company that operates such apparel and home furnishing retail chains as T.J. Maxx, Marshalls, HomeGoods, and A.J. Wright, said that its June sales were above expectations...

3Com issues quarterly results
By Chris Reidy, Globe Staff 3Com Corp., a telecommunications equipment maker based in Marlborough , reported fourth quarter revenue of $295.1 million, down 8.2 percent from a year ago. Net income in the quarter was $20.2 million, or $0.05 per...

Survey reveals worst e-mail mistakes
By Chris Reidy, Globe Staff Don?t hit ?send? when you?re seething. Think twice before hitting ?Reply all.? And always, always give that on-the-job e-mail that you're composing your undivided attention because e-mail blunders can go viral and in this tough...

Monster to cut 160 jobs, open Cambridge tech center
Associated Press Monster Worldwide Inc., which has a big presence in Maynard, said late Wednesday that it's cutting 160 jobs worldwide and opening a technology center in Massachusetts as the company adjusts its operational structure. The job cuts will be...

Today in Globe Business
EMC wins bid for Data Domain EMC Corp. has won the high-stakes bidding war for Data Domain Inc., with a rival data storage company, NetApp Inc., dropping out of the fight - two days after EMC boosted its bid to...

Wednesday, July 8, 2009

EMC wins bidding war with $2.1b offer for Data Domain
By Hiawatha Bray, Globe Staff EMC Corp. of Hopkinton has won its battle to acquire Data Domain Inc., after rival data storage company NetApp Inc. dropped out of the high-stakes bidding war. The move comes two days after EMC boosted...

Leerink Swann will collaborate with Swiss firm
By Chris Reidy, Globe Staff Leerink Swann said it has formed a global collaboration with InterPharmaLink, a Swiss firm that provides business development services to pharmaceutical and biotechnology companies. Headquartered in Boston, Leerink Swann is a healthcare investment bank specializing...

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