Tuesday, December 8, 2009

Daily Business Update from the Boston Globe

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Tuesday, December 8, 2009

Talbots returns to 3q profit on lower charges
Associated Press Talbots Inc. said it made money in the third quarter, benefiting from lower charges, trimmed expenses and a smaller loss from discontinued operations. The results were much better than Wall Street expected, sending the company's stock up $1.65,...

Leonard will head ICIC
Globe Staff The Initiative for a Competitive Inner City said in a press release that Mary Kay Leonard will become its president and chief executive on Jan. 4. Based in Boston, the Initiative for a Competitive Inner City, or ICIC,...

MegaBus offers free seats for early 2010
(File photo: Jennifer Taylor for The Boston Globe) Globe Staff Megabus.com, an express bus line serving cities in the Northeast and Midwest, said it will offer 100,000 free seats to customers traveling between Jan. 6 and March 20, a...

Recession makes Gen Y more conservative
Globe Staff Many young workers say the economic crisis has made their generation more conservative, which is reflected in not only their financial decisions, but has also made them less inclined to "job hop" and more likely to seek to...

Papa Gino's, D'Angelo's launch loyalty program
Globe Staff Papa Gino?s and sister chain D?Angelo Grilled Sandwiches said they have launched a joint "Guest Loyalty Card Program." The program enables customers to earn points on purchases at either Papa Gino?s or D?Angelo restaurants that can also be...

Genzyme blood cancer treatment shows promise
Globe Staff Genzyme Corp., a Cambridge biotechnology company, said it is encouraged by early test results of its drug Mozobil as part of a potential strategy to attack blood cancers. In a press release, Genzyme said that a "Phase 1/2...

Princeton Review completes Penn Foster acquisition
Associated Press Princeton Review Inc. said today that it completed its $170 million purchase of online career education company Penn Foster Education Group Inc. The Framingham provider of test-preparation services said Penn Foster will stay based in Scranton, Penn., and...

Green Mountain agrees to buy Diedrich Coffee
Globe Staff Green Mountain Coffee Roasters Inc., a Vermont coffee company, said it has agreed to buy Diedrich Coffee Inc. of California for $35 per share in cash pursuant to a cash tender offer, in a transaction with a total...

ModusLink buys Tech for Less
Globe Staff ModusLink Global Solutions Inc., a Waltham company that processes and markets customer-returned consumer electronics and business technology products, said that it has acquired Tech for Less LLC in an all-cash transaction valued at $30 million, plus additional performance-based...

Today in Globe Business
Pay czar's personality is as big as the problems he's asked to solve If the Harvard Law students settling into the Friday afternoon advanced seminar on mediation were expecting a self-effacing peacemaker as their guest speaker, they guessed wrong. Kenneth...

Monday, December 7, 2009

Two local biotech companies strike deals
By Robert Weisman, Globe Staff Buyout fever heated up in the local biotechnology sector today, with a pair of privately held Cambridge biosciences companies linking up with out-of-state partners in two separate deals. Gloucester Pharmaceuticals Inc., which last month won...

Infinity names Perkins chief executive
By Robert Weisman, Globe Staff Cambridge biotechnology company Infinity Pharmaceuticals Inc. has named Adelene Q. Perkins as its chief executive. Perkins, who is now president and chief business officer, will move into his new position Jan. 1, when she will...

New York Times Co. will not sell Worcester newspaper
By Robert Gavin, Globe Staff The New York Times Co. said today it won't sell the Worcester Telegram & Gazette after spending several months exploring a possible sale. The move follows a similar decision by the Times Co. to hold...

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