Wednesday, February 10, 2010

Daily Business Update from the Boston Globe

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Wednesday, February 10, 2010

Tedeschi readies food shop for Fall River
Globe Staff Tedeschi Food Shops Inc., the Rockland-based chain of convenience stores, said it plans to officially open its 190th store tomorrow. The new store is in Fall River at 1099 William Canning Boulevard; it will be the chain's fourth...

AOL joins MIT Media Lab consortium
Globe Staff AOL Inc., the New York-based Web services company, said in a press release today that it has joined the Massachusetts Institute of Technology Media Lab as a consortium-level sponsor. The media lab is a research community focused on...

Affiliated Managers agrees to pay $775m for UK firm
By Beth Healy, Globe Staff Affiliated Managers Group Inc. said it has agreed to acquire Pantheon Ventures, a London private equity fund-of-funds, for $775 million in cash. It is the largest deal in 17 years of business for AMG, a...

Mass. housing market drew first-time buyers
Globe Staff Roughly half the homes purchased in Massachusetts during 2009 were bought by first-time buyers, up 5 percent from 2008, according to a study by the Massachusetts Association of Realtors said. Nationwide, 47 percent of homes purchased during 2009...

Ben & Jerry's ice cream chief is leaving
Associated Press The chief executive officer of Ben & Jerry's ice cream is leaving his post at the end of next month. The South Burlington, Vt.-based company says Walt Freese wants to pursue other "values-led business and investment opportunities." Freese...

Herb Chambers gears up to unveil KIA dealership
Globe Staff The auto industry may be taking some lumps, what with Toyota recalling some of its models, but local auto dealer Herb Chambers is pressing ahead. Today Chambers is set to formally open a KIA dealership in Burlington -...

NY Times reports 4Q profit of $90.9 million
By Beth Healy, Globe Staff The New York Times Co. reported a profit of $90.9 million in the fourth quarter of 2009, up from $27.7 million in the same quarter a year ago, as circulation revenue rose and advertising declines...

Genzyme drug test meets primary end point
Globe Staff Genzyme Corp., a Cambridge biotechnology company, said today that it is encouraged by test results for a potential treatment of heterozygous familial hypercholesterolemia, a disorder characterized by high cholesterol levels. The treatment is called mipomersen, and Genzyme is...

New Balance is opening store in Shanghai
Globe Staff New Balance Athletic Shoe Inc. said it is opening an Experience Store in Shanghai, its second Experience Store in China. The Boston-based athletic footwear and apparel company opened an Experience Store in Beijing last year and has plans...

Today in Globe Business
Columbus Center: Down to its last chance Massachusetts transportation officials have begun severing ties with the developers of Columbus Center, the latest, and perhaps last, chapter in one of the most ambitious and controversial projects in Boston?s development history. The...

Tuesday, February 9, 2010

Mass. officials look to expand electric vehicle use
Globe Staff The Massachusetts Department of Energy Resources said that it has signed a memorandum of understanding today with auto maker Nissan North America Inc. that will launch a partnership to explore ways to expand the use of electric vehicles in...

STD Med buys W. Bridgewater facility
Globe Staff STD Med Inc., a Stoughton-based manufacturer of medical devices, said it has acquired a 32,000-square-foot facility in West Bridgewater to augment its current footprint of 120,000 square feet of space. Privately held STD Med paid about $1.4 million...

'Right to Repair' auto bill moves up a gear
By Megan Woolhouse, Globe Staff The state Legislature's Joint Committee on Consumer Protection and Professional Licensure has voted to recommend passage of a bill that would require auto manufacturers to provide diagnostic information to independent mechanics. Known as the Right...

Check out those clothing donation bins, AG says
Globe Staff Consumers should do some homework before putting clothes into clothing donation bins, the office of the Massachusetts attorney general said today. Bins for the collection of used clothing, toys, and other household items can often be found in parking lots...

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