Monday, February 8, 2010

Daily Business Update from the Boston Globe

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Monday, February 8, 2010

Sprinter Spearmon signs on with Saucony
Globe Staff Saucony Inc., a Lexington-based running shoe brand, said it has signed sprinter Wallace Spearmon Jr. to a multi-year endorsement contract. Spearmon is the winner of three consecutive World Outdoor Championships 200-meter medals (2005, 2007, 2009), Saucony noted in...

TechTarget finishes accounting probe, CFO resigns
Associated Press NEEDHAM - TechTarget Inc. said it finished an internal audit and reduced its third-quarter income by $967,000 to adjust for improper accounting. The company also said its chief financial officer resigned. TechTarget said its internal investigation found that certain...

Dunkin’ launches donut contest
Globe Staff Following the famous Hollywood maxim of "They liked it once; they'll love it twice," Dunkin' Donuts said it is reprising its "Create Dunkin's Next Donut" contest in honor of the Canton chain's 60th anniversary. "For the second year in a row,...

Reebok and Gaiam will launch fitness DVDs
Globe Staff Reebok International Ltd., the Canton-based athletic footwear and apparel brand, said it has signed a multi-year licensing agreement with Gaiam Inc. to launch a line of Reebok DVDs, fitness accessories, and workout kits. Gaiam is a lifestyle media...

Spectrum Microwave is moving to larger space
Globe Staff Spectrum Microwave Inc., a provider of RF and microwave components and systems, has executed a new 42,832-square-foot lease to relocate its Marlborough operations to 400 Nickerson Rd.in Marlborough Technology Park, said a broker involved in the transaction. The...

Commercial NSTAR customers could see rate drop
Globe Staff NSTAR said it is seeking to lower supply rates for its largest customers in response to lower prices on the wholesale electricity market. "Large commercial and industrial customers in the Boston area who purchase their electricity through NSTAR?s...

Mass. gas prices fall 3 cents a gallon
Globe Staff Gasoline prices in Massachusetts fell for the third straight week as they dropped 3 cents to $2.659 a gallon in the latest weekly survey from AAA Southern New England. The weekly survey focuses on the average price for...

Mac-Gray sells its MicroFridge business
Globe Staff Mac-Gray Corp., a Waltham-based provider of laundry facilities management services, said that it has sold its MicroFridge business to Danby Products, an appliance marketing company.  "The transaction is valued at approximately $11.5 million," Mac-Gray said in a press...

ATG expects offer proceeds of $100.6M
Associated Press CAMBRIDGE -- Software developer Art Technology Group Inc. said today that it expects $100.6 million in gross proceeds from its public offering of 25 million shares. ATG said underwriters used their option to buy an additional 3.75 million...

Wellington West taps State Street
Globe Staff State Street Corp., a Boston company that provides financial services to large investors, said it has been appointed by Wellington West Asset Management Inc. to provide a range of investment services. State Street said in a press release...

Effectiveness of TV ads may be eroding
Globe Staff Last night millions of Americans carefully scrutinized ads that were aired during the Super Bowl, but this morning, there's a survey out that suggest that TV ads - at least in their present form - have lost some...

CVS Caremark 4Q profit grows 11 percent
Associated Press CVS Caremark Corp. said today that its profit rose 11 percent in the fourth quarter as results improved for its pharmacy benefits management business, which has lost billions in contracts for the new year. The Woonsocket, R.I., company...

Hasbro 4Q profit rises on sales of boys' products
Associated Press PAWTUCKET, R.I.-- Hasbro says sales of action figures and other toys aimed at boys and strong entertainment and licensing revenue helped push its fourth-quarter profit sharply higher. The No. 2 US toy maker also gave a solid 2010...

Super Bowl tweeters like Doritos and Google
Globe Staff Did the Twitter-sphere view Super Bowl ads differently than folks who don't tweet? We'll see. Results from various polls are still coming in. But here's an interesting early read from an experiment by the Boston ad agency Mullen, which...

Today in Globe Business
Chipping in to save the magic of a mountain LONDONDERRY, Vt. - At Magic Mountain, children slide down the slopes on cafeteria trays and play video games in the lodge while their parents ski. Most of the 375 season-pass holders,...

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