Wednesday, October 28, 2009

Daily Business Update from the Boston Globe

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Wednesday, October 28, 2009

Hamilton Co. buys Brookline apartment complex
The Hamilton Company, a Boston real estate company, said it has purchased, along with Dexter Park, a Brookline apartment complex for $129.5 million. With 409 apartments, the property is a nine story mid-rise on 4.24 acres of land; it was...

Shields is the official MRI provider to the Bruins
(Some MRI work waiting to happen? In this Globe file photo from earlier this year, Milan Lucic of the B's throws hands at Montreal's Mike Komisarek. Photo by Barry Chin/Globe Staff) Shields Health Care Group, a Quincy company whose...

Madoff victims get back $534 million, trustee says
By Beth Healy, Globe Staff More than $534 million has been paid to 1,368 victims of Bernard Madoff through the national fund that insures against failed brokerage firms, according to Irving Picard, the trustee appointed to recover assets for investors...

Westford grants cable franchise to Verizon FiOS TV
The Westford Board of Selectmen has granted a cable franchise that will enable Verizon Communications Inc. to make its FiOS TV service available to Westford residents, Verizon said. "The board?s authorization brings to 104 the total number of Massachusetts communities...

Vertex says telaprevir boosted hepatitis response
Associated Press Vertex Pharmaceuticals Inc. said today that its hepatitis C treatment telaprevir created an immune system response to the virus in patients who had not been helped by other drugs. The results came from a midstage trial of telaprevir....

Locals plan to up holiday spending, Deloitte says
(Holiday fruit cake file photo: Jim Scherer for The Boston Globe) New Englanders plan to shell out 24 percent more on holiday related spending this year than last as their mood brightens over the prospect of the economy moving...

Intermountain hires State Street
State Street Corp., the Boston company that provides financial services to institutional investors, announced that it has been appointed to provide fund administration services for Intermountain Equity Group's newly launched private equity fund. "State Street will support IEG's new $400...

Southwest Airlines continues deal with Celtics
Associated Press Southwest Airlines Co., a regular advertiser on sports programming, says it has extended its sponsorship of the NBA's Boston Celtics for the 2009-2010 season. Southwest said that the deal includes signs in the Celtics' arena and promotions during...

Fantini & Gorga place financing for CVS portfolio
Fantini & Gorga, a Boston-based mortgage banking firm, announced the placement of $23.75 million in first mortgage permanent financing for a retail portfolio consisting of 10 CVS pharmacies located throughout the country. The property locations include suburban locations in metropolitan...

UNH franchise index shows gain
Avis Budget Group and lodging firms gained market value while the restaurant sector slipped, according to a third-quarter study that examined the performance of franchise companies. The study is from the Rosenberg International Center of Franchising at the University of...

EnerNOC signs contract with Connecticut
EnerNOC Inc., a Boston energy management company, said it has signed a contract with the state of Connecticut to continue to provide its demand response services through 2014. In a press release, EnerNOC said it has managed Connecticut's participation in...

IDC expects slow recovery for digital frames market
The market for digital photo frames has been hurt by the global economic downturn, which has caused a sharp reduction in discretionary consumer spending, reports IDC, a global market intelligence firm based in Framingham. IDC said in a press release...

A little something for Santa's in-box
This is the time of year when toy retailers offer their suggestions for ideal holiday toy gifts. In keeping with this tradition, the Learning Express of Devens offers up its suggestions. In a press release, the company breaks down suggested...

Double-Take Software 3Q profit slides on sales
Associated Press Double-Take Software Inc. reported a decline in third-quarter profit yesterday as revenue from software licenses declined. The Southborough company, which also provides data-recovery services, said it earned $1.6 million, or 7 cents per share, compared with $2.6 million,...

Today in Globe Business
Tenants get break in foreclosure plan The city of Boston plans to purchase foreclosed apartment buildings still occupied by tenants in an effort to stem evictions under a pilot program officials say is the first of its kind in the...

Tuesday, October 27, 2009

Summit calls for more credit for small businesses
By Robert Gavin, Globe Staff The state should create a fund to provide small businesses with the capital they need to grow and create jobs, according to participants in Governor Deval Patrick's economic summit, which was held yesterday. Although its...

Waters 3Q profit rises 6.2 percent on better demand
Associated Press Waters Corp.'s third-quarter profit rose 6.2 percent as demand stabilized and interest expenses eased, the Milford-based maker of analytical instruments said today. "Customer interest in our new products is encouraging and indicates that research-related spending may benefit our...

NSTAR gets $10m in federal funding
NSTAR, a Boston company that transmits and delivers electricity and natural gas to 1.4 million customers in Massachusetts, said that the US Department of Energy has awarded it $10 million in federal stimulus funding. The funding will be used to...

Surging flu revenue helps Inverness post 3Q profit
Associated Press Diagnostics company Inverness Medical Innovations Inc. said today that it turned a profit in the third quarter as sales of flu tests jumped more than fivefold. Waltham-based Inverness reported a profit of $14.3 million, or 17 cents per...

Rental car fee at Logan will rise $2 a day
By Katie Johnston Chase, Globe Staff Rental cars at Logan International Airport will cost $2 more a day beginning Dec. 1, a fee hike approved this morning by the Massachusetts Port Authority board to help pay for a consolidated rental...

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