Friday, August 7, 2009

Daily Business Update from the Boston Globe

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Friday, August 7, 2009

Smurfit-Stone Container closing Conn. plant
Associated Press ST. LOUIS -- Smurfit-Stone Container Corp., a major US cardboard box-parts maker operating under bankruptcy court protection, said Friday it is expanding its Mansfield, Mass., plant and closing its Portland, Conn., facility. Work at Mansfield includes both upgrading...

Tony denim store is set to open on Newbury St.
By Chris Reidy, Globe Staff More trendy LA jean styles may be heading the Hub's way, what with plans by a chain called 7 For All Mankind LLC to open a temporary store on Boston's Newbury Street later this...

MIT, UMass receive federal research funds
Associated Press The Massachusetts Institute of Technology and University of Massachusetts Amherst will receive a combined $35 million in federal stimulus funds for pioneering research in solar energy and electricity storage. MIT will receive $19 million to study new material...

Analog will eliminate 120 jobs
By Hiawatha Bray, Globe Staff Chipmaker Analog Devices Inc. of Norwood will cut 120 jobs next month, as it shuts down its manufacturing facility in Cambridge. Spokeswoman Maria Tagliaferro said the job cuts are the result of a previously announced...

Royal Bank of Scotland loses $1.7B in 1st half
Associated Press LONDON -- The Royal Bank of Scotland posted a wider first-half net loss Friday, as bad debts jumped to 7.5 billion pounds ($12.6 billion) and sluggish activity in its retail and corporate businesses wiped out strong gains in...

Green Mountain Coffee prices stock offering
Associated Press Green Mountain Coffee Roasters Inc. of Waterbury, Vt, said today that it priced a public offering of 5 million common shares at $67.25 per share. The offering was also increased from its initial 4 million shares of common...

Acetylon raises funds, appoints chief executive
By Chris Reidy, Globe Staff Acetylon Pharmaceuticals Inc.announced the appointment of Walter C. Ogier as president, chief executive, and a member of its board of directors. The Cambridge company said in a press release that Ogier is the former chief...

Football game tail-gating? Pass the cranberries
(This file photo of ginger cranberry sauce made by chef Ming Tsai was taken by Erik Jacobs for the Globe. ) By Chris Reidy, Globe Staff Mention tail-gate cuisine - an all-important sub-genre of al fresco dining - and...

Alnylam 2Q loss widens on higher expenses
Associated Press Cambridge biopharmaceutical company Alnylam Pharmaceuticals Inc. reported a wider second-quarter loss on higher expenses for development of its "gene silencing" drug candidates. Late Thursday, the company said it lost $22.7 million, or 55 cents per share, compared with...

RI airport head sees possibilities at Quonset
Associated Press The head of the agency that oversees Rhode Island's airports say he's focused on much more than just runway expansion at T.F. Green. Kevin Dillon, president of the Rhode Island Airport Corp., says while T.F. Green in Warwick...

ESPNU, ESPN360.com launch on Comcast
By Chris Reidy, Globe Staff Comcast Corp. and ESPN said that ESPNU college sports programming is now available to Comcast customers throughout Massachusetts, New Hampshire, and Maine. "The addition of ESPNU to Comcast?s Digital Preferred customers gives fans access to...

Today in Globe Business
California buyout firm is in bidding for Globe An investment firm that recently purchased a San Diego newspaper has emerged as a third bidder for The Boston Globe, according to people briefed on offers submitted to the paper?s owner, The...

Thursday, August 6, 2009

New York Times Co. confirms Globe is for sale
By Robert Gavin, Globe Staff The New York Times Co. today confirmed for the first time that it is seeking a possible sale of The Boston Globe. The Times Co. disclosed in a quarterly financial report filed with the Securities...

UFP Technologies posts steep drop in 2Q profit
Associated Press UFP Technologies Inc. of Georgetown posted a steep decline in second-quarter profit Thursday. The maker of specialty foam products and packaging cited weak demand, particularly in automotive markets. Net income slid to $566,000, or 9 cents per share,...

Red Roof launches 1-cent room promotion
By Paul S. Makishima, Globe Staff Amid the travel industry slump, Red Roof Inns is launching a planned nationwide 1-cent room promotion at its newly renovated Mansfield/Foxborough location. The online sale on rooms for Aug. 16 begins Friday Aug....

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