Wednesday, October 21, 2009

Daily Business Update from the Boston Globe

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Wednesday, October 21, 2009

Bank of America agrees to sell First Republic
Associated Press Bank of America Corp. said it has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors. First Republic Bank, which caters to affluent customers, has two...

Tutor Perini relocates HQ to Los Angeles
By Erin Ailworth and Todd Wallack, Globe Staff Construction giant Tutor Perini Corp. is switching coasts, trading its long-time Framingham headquarters for Los Angeles, where it is working on several public and private projects. The company's Framingham office will remain...

Key to bistro success? Garlic and Mexican flair
Meat loaf just doesn't get it done anymore. And Salisbury steak? No way. A new survey of the casual restaurant industry finds that consumers - and in particular, young men - need exotic flavors to lure them away from home...

Retail icon in Harvard Square is up for sale
Bob Slate, Stationer, a Cambridge merchant that has been doing business in Harvard Square for 75 years, is up for sale, its owners said. The owners are Justin and Mallory Slate, sons of founder Bob Slate, and according to a...

Galleon Group to shut down hedge funds
Associated Press A hedge fund company whose manager is charged in an insider trading case that involved tech companies including Akamai Technologies Inc. of Cambridge is telling investors that it's shutting down its funds. A letter obtained by the Associated...

Genzyme 3q profit plunges on facility costs
Associated Press Production problems at Genzyme Corp.'s Boston facility sheared the Cambridge biotechnology company's third-quarter profit while also prompting another cut in financial guidance. A facility shutdown in June caused shortages of the company's key moneymaker, Cerezyme, and resulted in...

Sam Adams uncorks German beer alliance
Associated Press FREISING, Germany -- Boston Beer Co., maker of Samuel Adams, is teaming up with a venerable German brewery to jointly brew a new craft beer to be marketed in Germany and the United States next spring. Boston Beer...

National Development sells Lowell property
National Development of Newton has sold a Lowe?s Home Improvement Center under development in Connector Park in Lowell to Tanglewood Investors, a broker involved in the transaction said. The broker is Jones Lang LaSalle, which said it represented the seller...

Design firm tapped to renovate Chinatown park
Stephen Stimson Associates, a firm with offices in Boston and Falmouth, has been awarded a $50,000 design services contract to renovate Boston's Mary Soo Hoo Park, also known as Chinatown Gateway Park, officials said. The announcement was made by the...

Green Mountain Coffee plans Hub Fair Trade event
Sea urchin cappuccino, anyone? Or maybe a pork tenderloin drenched in a coffee-sunchoke gravy? Those are among the options on tap at an "Eat, Drink & Be Fair" festival scheduled for this evening at the Artists for Humanity Epicenter building...

Feingold looks to retire as head of housing group
Ellen Feingold, president of Jewish Community Housing for the Elderly, announced plans to retire in 2010. Feingold will stay on until a successor has been chosen, and the Boston organization said that it has hired the search firm Witt/Kiefer to...

Today in Globe Business
Mass. banking trio faces queries A congressional committee investigating Bank of America Corp.?s controversial purchase of Merrill Lynch & Co. wants to question three key bank officials from Massachusetts about the deal. The House Oversight and Government Reform Committee plans...

Tuesday, October 20, 2009

Yergin: We're still trying to unravel the recession
By Erin Ailworth, Globe Staff As the country begins to recover from the worst recession in three decades, many are still trying to unravel exactly what happened -- and uncover the lessons learned, said Daniel Yergin, a widely recognized authority...

Harvard alum blasts endowment managers
By Beth Healy, Globe Staff A Harvard University alumni group criticized the school's investment managers for losing 27 percent of the endowment fund in its last year and accused the university of glossing over mistakes that led to those losses....

TechTarget is moving to Newton
TechTarget, an online technology media company, is relocating from Needham to Newton, said a real estate broker involved in the leasing transaction. The broker is Jones Lang LaSalle, which represented Equity Office Properties. Equity Office owns Riverside Center, the suburban...

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