Tuesday, November 3, 2009

Daily Business Update from the Boston Globe

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Tuesday, November 3, 2009

Pearlstein will head law firm's Hub office
Mark W. Pearlstein will become partner-in-charge of the Boston office of McDermott Will & Emery LLP, effective Jan. 1, the law firm said. He will succeed Susan M. Cooke, "who became partner-in-charge of the Boston office in 2006 and who...

Mass. window maker to close 1 plant, move jobs
Associated Press Window and door manufacturer Harvey Building Products has announced plans to close its Springfield facility and move about 100 jobs to other locations in New England. The Waltham-based company says a slowdown in the housing market, along with...

Who, What, Where
Lee R. Brettman M.D. has been appointed to the newly created position of chief medical officer of Alnara Pharmaceuticals Inc., a Cambridge company that seeks to develop novel protein therapeutics for the treatment of metabolic diseases. Most recently, Brettman was...

Local foreclosed homes are sold at auction
Bidders collectively agreed to pay $2.4 million to buy 27 homes at an auction of 36 foreclosed properties in Greater Boston, said Auction.com, the company that organized the auction last night. Among homes sold was a two-family house in Foxborough,...

Arbella gets rating upgrade
Arbella Insurance Group said that A.M. Best Co. has upgraded Arbella?s financial strength rating to A - ?excellent? with a ?stable? outlook. Headquartered in Quincy, Arbella has more than a half million insurance customers in Massachusetts, New Hampshire, and Connecticut....

RBS won't have to sell Citizens
Parent company Royal Bank of Scotland will not have to sell Citizens Bank as a condition for receiving additional funds from the British government. Citizens Financial Group, or CFG, which operates the Citizens bank brand in the United States, is...

Mass. business confidence edges up
Business confidence rose nine-tenths of a point in October to post a reading of 43.3 on a monthly index maintained by the Associated Industries of Massachusetts, a trade group of Massachusetts employers. The index has posted gains in seven...

Ribich is retiring as president of QinetiQ unit
William A. Ribich is scheduled to retire Nov. 14 as president of QinetiQ North America's technology solutions group, the company said. Ribich was chief executive of Foster-Miller Inc., a Waltham defense technology developer, when it was acquired by QinetiQ North...

PerkinElmer gets an OK for a screening processor
PerkinElmer Inc., a Waltham life sciences company, said that it has received 510K clearance from the US Food and Drug Administration for a genetic screening processor, or GSP, that public health laboratories will use in the their newborn screening programs....

Fireman Capital invests in eyewear firm
Fireman Capital Partners said it has made an investment in Pilla Inc., a company formerly known as HD Spex) that specializes in enhanced vision products for athletes such as marksmen and shooters. A press release from Fireman Capital did not...

Holiday Web retail sales will grow, Forrester says
Overall retail holiday sales are expected to be flat to slightly down this year as consumers struggle with the recession, but US online holiday retail sales are projected to rise 8 percent to $44.7 billion, Forrester Research Inc. said. The...

Company discusses bladder cancer detection
Predictive Biosciences Inc. announced the publication of pilot study results on its urinary biomarker approach to bladder cancer detection. In a press release, the Lexington company said the results appear in in the November issue of the Journal of...

Today in Globe Business
Learning to play their cross-cultural cards right CAMBRIDGE - Keiko Sakurai held up a business card for her audience of 20 biotechnology managers whose company, Millennium Pharmaceuticals Inc., was sold last year to a Japanese drug maker. How they use...

Monday, November 2, 2009

Butler Bank posts loss, remains at risk
By Todd Wallack, Globe Staff Butler Bank, the Lowell community bank that was recently ordered to shore up its capital reserves, is continuing to struggle. The bank reported a $1.7 million loss in the third quarter, while its capital position...

Citizens Financial Group may be sold
By Beth Healy, Globe Staff British regulators have stepped up pressure on the Royal Bank of Scotland Group PLC to sell off assets in the wake of its massive government bailout, and the bank could be forced to sell Citizens...

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