Thursday, July 30, 2009

Daily Business Update from the Boston Globe

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Thursday, July 30, 2009

Boston Clinical agrees to $600k-plus settlement
By Chris Reidy, Globe Staff The office of Massachusetts Attorney General Martha Coakley said that Boston Clinical Laboratories Inc. has agreed to pay more than $600,000 to settle a lawsuit that alleges Medicaid False Claims violations on the part of...

NH gov signs mortgage consumer protection bill
Associated Press New Hampshire Governor John Lynch has signed a law that helps protect consumers by strengthening requirements for mortgage bankers, brokers and other loan originators. Lynch said New Hampshire's lenders overall have a reputation for acting responsibly, but unscrupulous...

iBasis board rejects KPN's $48m offer
Reuters The board of long-distance call carrier iBasis Inc., which is based in Burlington, rejected Dutch telecoms group KPN's offer to buy out the remaining 44 percent of iBasis for $48.2 million, calling it "grossly inadequate." KPN announced its cash...

Who, What, Where
Ken Udas has been named as the chief executive of the online learning consortium for the University of Massachusetts. Udas will begin his new role at UMassOnline Sept. 14. He was most recently the executive director of Penn State World...

Iron Mountain 2Q earnings surge on lower costs
Associated Press Iron Mountain Inc., a Boston company that provides records management services, said its second-quarter income more than doubled, as sharply reduced costs offset lower revenue. The company said in a press release that earnings rose to $87.6 million,...

CWCapital finances $130m for Church Park
By Chris Reidy, Globe Staff CWCapital LLC said its local office has provided $130 million for the refinancing of Church Park, a large mixed-use building located at 221 Massachusetts Ave. in Boston. The loan was executed through Freddie Mac's Capital...

Death to subpar sandwiches, D'Angelo urges
By Chris Reidy, Globe Staff The D'Angelo restaurant chain has a message for sandwich lovers disgruntled by the quality of their chow: "Let the anger be your muse." Working with Boston ad agency Connelly Partners, D'Angelo has launched a website...

Forrester reports earnings
Forrester Research Inc., the Cambridge-based research firm, said second-quarter revenues were $61.6 million, compared with $63.5 million for the second quarter of last year. "On a GAAP-reported basis, Forrester reported net income of $6.2 million, or $0.27 per diluted share,...

Streambank schedules Circuit City auction
By Chris Reidy, Globe Staff Streambank LLC today said that a bid deadline and auction date have been finalized for the sale of certain intellectual property assets of Circuit City Stores Inc., the defunct consumer-electronics chain. Bids may be entered...

RI officials shut down businesses over sales tax
Associated Press PROVIDENCE - About 1,200 firms across Rhode Island are out of business unless they pay their overdue sales tax immediately. Letters from the state Division of Taxation were hand-delivered by the hundreds this week to business owners warning...

AMSC reports big revenue jump
By Chris Reidy, Globe Staff American Superconductor Corp., a Devens company focused on energy technologies, today reported that revenues for the first quarter of fiscal 2009 were $73 million, an 83 percent increase over $39.8 million in revenues for the...

IDC report: Appetite for notebooks remains strong
By Chris Reidy, Globe Staff Notebooks represented three out of four computers shipped to the US consumer market during the second quarter, said IDC, a global market intelligence firm based in Framingham. A press release about the IDC's PC Tracker...

Sonus Networks reports second-quarter results
By Chris Reidy, Globe Staff Sonus Networks Inc., a Westford company that makes Internet protocol based telecommunications equipment, said that its revenue for the second quarter of fiscal 2009 was $61.6 million, compared with revenue from continuing operations of $87.8...

Vertex stands to receive $105m payment
By Chris Reidy, Globe Staff Vertex Pharmaceuticals Inc., a Cambridge biotechnology company, said that it is in line to receive $105 million from Mitsubishi Tanabe Pharma Corp. as a result of an amended agreement involving Vertex's potential Hepatitis C treatment....

Today in Globe Business
Downsizing companies invite guests to fill empty desks By D.C. Denison, Globe Staff Inside the airy headquarters of the A.J. Martini construction firm in Winchester, they call them ?the guests?? - architects and designers who work in the office, but...

Wednesday, July 29, 2009

Ch. 7 reporter Przybyl moves to Dallas
By Johnny Diaz, Globe Staff WHDH-TV (Channel 7) reporter Lauren Przybyl is leaving the station next month to be a morning anchor in Dallas, employees say. Przybyl will co-anchor "Good Day,'' the morning show at KDFW-TV (Channel 4), a Fox-affiliate....

New England economy's worst days are over, says survey
By Robert Gavin, Globe Staff The New England economy remains weak, with many firms not expecting business to pick up until next year. But some businesses, particularly retailers, said the worst is over, according to a recent Federal Reserve survey....

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