Friday, October 16, 2009

Daily Business Update from the Boston Globe

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Friday, October 16, 2009

Breakfast with Ballmer: Guest list and topics
By Scott Kirsner, Globe Correspondent Who got an invite to be part of this morning's private breakfast with Microsoft CEO Steve Ballmer, at Microsoft's Kendall Square outpost? Here's the fairly-complete list of who was there... this was a small group...

UTStarcom, Starent Networks settle patent dispute
Associated Press ALAMEDA, Calif. -- UTStarcom Inc., which makes telecommunications equipment, said it settled a patent scuffle with Starent Networks Corp. that began in 2005. Under the agreement, Tewksbury-based Starent will make a one-time payment to UTStarcom for $3.5 million...

Amazon offers same-day delivery in Boston
Amazon.com Inc., the Seattle-based online retailer, announced the launch of ?Local Express Delivery,? a new shipping option that gives some of its customers the option of same-day delivery in seven cities including Boston and some surrounding areas in the Boston...

RI jobless rate rises to 13 percent in September
Associated Press Rhode Island's unemployment rate climbed to 13 percent last month as widespread job losses continued in the accommodation and food service industry and other sectors, according to state statistics released today. The state unemployment rate has leaped 4.5...

Johnson & Johnson, Palomar end collaboration
Palomar Medical Technologies Inc. said that a unit of the Johnson & Johnson company has terminated an agreement that had the two companies collaborating on developing and commercializing light-based cosmetic devices that can be used at home. Palomar, a Burlington...

Brooks boosts 4q revenue forecast
Associated Press Brooks Automation Inc., a chip equipment manufacturer, raised its revenue forecast for its fiscal fourth quarter on greater-than-expected demand and sees the gains continuing into its first quarter. The Chelmsford-based company said it now expects to report revenue...

Mullen wins Hoodoo Spirits account
Mullen, the Boston ad agency, said it has been selected to be the agency of record for Hoodoo Spirits, a Tennessee-based company developing a line of premium spirits. Mullen said it won the business after an ad agency review and...

Beacon Power gets an OK for NY flywheel facility
Beacon Power Corp. announced that the New York State Public Service Commission has granted it a Certificate of Public Convenience and Necessity (CPCN) for its proposed flywheel frequency regulation plant in Stephentown, N.Y., and approved the project's overall financing. At...

Maleh will head Charles River Associates
Chief operating officer Paul Maleh will be promoted to president and chief executive of Charles River Associates, a Boston firm that provides international economic, financial, and management consulting services. The firm's board of directors said Maleh will succeed James C....

Online retailers grow profits despite recession
Fifty-seven percent of online retailers contacted in a new survey said that they were more profitable in 2008 than 2007 despite a progressively deteriorating economic environment, including the worst holiday season in decades. The survey of 117 retailers was conducted...

Wal-Mart, Amazon.com trade price cuts on books
An online book special offered by Wal-Mart Stores Inc. is turning into a full-fledged price war with Amazon.com. Wal-Mart got things started yesterday, offering $10 prices on such upcoming hardcover releases as Sarah Palin's "Going Rogue" and John Grisham's "Ford...

WPI licenses biofuels technology to California firm
EdeniQ, a California-based company, has licensed technology from Worcester Polytechnic Institute for the development of cellulosic ethanol, a liquid fuel derived from agricultural waste and other sources of environmentally-sound biomass, WPI said in a press release. Terms of the deal...

GE 3q earnings drop on finance woes
Associated Press FAIRFIELD, Conn. -- GE says the continued woes of its big financial unit fueled a big drop in third-quarter earnings, outweighing signs of improvement in its divisions that make heavy machinery and other industrial equipment. General Electric Co.'s...

Today in Globe Business
Unemployment at 33-year high; insurance fund running dry Unemployment in Massachusetts has reached its highest level since the 1970s, officials said yesterday as they also disclosed that the state will exhaust a fund that helps laid-off workers pay for health...

Thursday, October 15, 2009

Cubist to use Hydra technology
By Robert Weisman, Globe Staff Lexington biotechnology company Cubist Pharmaceuticals Inc. today said it has entered into a deal to license technology from Hydra Biosciences Inc. a Cambridge biopharmaceutical company that develops drugs to treat pain and inflammation. Under the...

Mass. AG slams National Grid rate hike plan
Associated Press Massachusetts Attorney General Martha Coakley has asked state regulators to turn down National Grid's request for a $111 million rate increase for electric customers in the state. Coakley said the proposed hike is neither warranted nor justified and...

New England Organ Bank will relocate to Waltham
New England Organ Bank will relocate its headquarters to the Waltham Tech Center, the tech center's landlord said. The landlord is the Bulfinch Companies Inc., a Needham-based real estate investment and development firm. Bulfinch said it has leased the...

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