Thursday, December 3, 2009

Daily Business Update from the Boston Globe

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Thursday, December 3, 2009

NH expects slight increase in visitors this winter
Associated Press CONCORD, N.H. Tourism officials expect 6.5 million visitors to New Hampshire this winter, a 2 percent increase over last year. The state Division of Travel and Tourism Development says spending by tourists and business travelers in the next...

Rosengren defends Fed policies in Hub speech
Globe Staff The president and chief executive of the Federal Reserve Bank of Boston vigorously defended the Fed's actions during the recent financial crisis in a speech delivered today in Boston. Eric S. Rosengren told his audience why saving insurance...

OwnerIQ raises $5.8 million
Globe Staff OwnerIQ, a Boston company that was founded in 2006, said it has raised $5.8 million in financing, bringing total financing it has raised to date to $13.8 million. "Led by Kepha Partners, the round includes participation by all...

Office party advice: Lay off the punch and hijinks
Ambitious employees would be well advised not to let their inner party animal out for a romp during holiday festivities at the office. So recommends the Creative Group, a division of Robert Half International Inc., a California company specializing...

Volunteers are more generous, Fidelity study says
Globe Staff The average amount of money donated to nonprofits by Americans who have volunteered in the past 12 months is $2,593 annually, more than 10 times the average $230 donated by Americans who have never had a volunteering experience....

Mortgage rates hit record low in Freddie Mac survey
Globe Staff Rates for a 30-year-fixed-rate mortgage hit an all-time low of 4.71 percent for the weekly survey started by mortgage giant Freddie Mac in 1971. Rates for the past week were down from the previous week's average of 4.78...

Genzyme reopens program for Pompe disease drug
Globe Staff Genzyme Corp., the Cambridge biotechnology company, said it will reopen enrollment to a program that provides treatment access to severely affected adults with Pompe disease before the commercial approval of its Pompe disease drug Lumizyme. Last month, Genzyme...

BJ's Wholesale sales climb in November
Associated Press BJ's Wholesale Club Inc. said today that its sales rose in November as more cost-conscious shoppers visited the retailer to buy items in bulk, but the result missed analyst expectations. Sales in locations open at least a year...

TJX sales rose 15 percent in November
Globe Staff TJX Cos. reported strong November results, saying that sales for the month were $1.8 billion, up 15 percent over the same month last year. The Framingham retailer operates such chains as T.J. Maxx, Marshalls, HomeGoods, and A.J. Wright;...

Vertex Pharma plans to sell 11.5m shares
Associated Press CAMBRIDGE - Vertex Pharmaceuticals Inc. late Wednesday expanded its public stock offering to 11.5 million shares from 10 million, priced at $38.50 each for gross proceeds of $442.8 million. The underwriters will have an option to buy another...

Second suitor looks at Worcester newspaper
Jeff Greene, a real estate magnate and billionaire investor who grew up in Worcester, is pursuing an 11th-hour bid to acquire the Telegram & Gazette, the Worcester newspaper is reporting. Greene?s interest in buying the newspaper from The New York...

Houghton Mifflin Harcourt debuts reading program
Globe Staff Houghton Mifflin Harcourt, a Boston company specializing in education, said it has introduced its Texas Journeys and Spanish language Texas Senderos reading programs - programs customized to students in Texas. Texas Journeys and Texas Senderos, the company...

Today in Globe Business
Wal-Mart will pay $40 million to workers Wal-Mart Stores Inc., the world?s largest retailer, has agreed to pay $40 million to as many as 87,500 current and former employees in Massachusetts, the largest wage-and-hour class-action settlement in the state?s history....

Wednesday, December 2, 2009

Globe's largest union expels its president
By Beth Healy, Globe Staff Daniel Totten, president of The Boston Globe?s largest union, was found guilty today by a jury of five union members of the most serious charges levied against him and was ordered expelled from the Boston...

Globe to cease publishing Lola women's magazine
By Robert Gavin, Globe Staff The Boston Globe said it will cease publication of Lola, a free magazine aimed at Boston-area women. The December issue, out now, is the last. Launched two years ago, Lola had a distribution of about...

Wal-Mart agrees to record $40M wage settlement in Massachusetts
By Dave Copeland, Globe Correspondent Wal-Mart agreed to pay $40 million to as many as 87,500 of its current and former employees in Massachusetts in what is the largest wage-and-hour class action settlement in the state?s history. The class action...

Regional economy shows signs of improvement
By Robert Gavin, Globe Staff The New England economy is showing signs of improvement as most business surveyed by the Federal Reserve expect a recovery next year, the Fed reported today. The survey, known as the Beige Book, found that...

Poinsettias from cooler greenhouses save money
Associated Press DURHAM, N.H. - The 700 red poinsettias lined up in a University of New Hampshire greenhouse are sort of the horticultural version of hybrid cars: They're being grown at different temperatures in hopes of creating a more fuel-efficient...

Light will retire as Harvard Business School dean
By Robert Gavin, Globe Staff Harvard Business School dean Jay O. Light will retire in June after more than four years leading one of the nation's top management programs and 40 years on the faculty. Light, 68, joined the business...

Midwest Airlines is moving to Logan's Terminal B
Globe Staff Midwest Airlines will move its Boston operations from Terminal C to Terminal B at Logan International Airport, starting Dec. 8, the Massachusetts Port Authority said. "Midwest flights will operate from Gate 15 on the US Airways side of...

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