Monday, February 22, 2010

Daily Business Update from the Boston Globe

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Monday, February 22, 2010

Judge approves SEC-BofA settlement on Merrill deal
Associated Press A federal judge said today that he would reluctantly approve an amended $150 million settlement between the Securities and Exchange Commission and Bank of America to end civil charges accusing the bank of misleading shareholders when it acquired...

Thermo Fisher said to be mulling Millipore deal
Thermo Fisher Scientific of Waltham has made an unsolicited offer to buy Millipore, another local firm that provides equipment and services to the life sciences industry, reported Bloomberg News, citing an anonymous source.

Salary.com announces CEO transition
Globe Staff Salary.com Inc., a Needham-based provider of on-demand talent management, payroll, and compensation services, said that Kent Plunkett has announced his resignation as chief executive, effective immediately. Plunkett will continue to serve as chairman of the board, the company...

Local gas prices fall a penny a gallon
Globe Staff Massachusetts gas prices averaged $2.629 a gallon in the latest weekly survey of AAA, down 1 cent from the previous week's average, AAA Southern New England said today. It was the fifth straight week that local gas prices...

NaviSite sells business unit for $56m
Globe Staff NaviSite Inc. announced the sale of its Lawson/Kronos Application Services business to Velocity Technology Solutions Inc. for $56 million in cash.

Iron Mountain makes $112m acquisition
Globe Staff Iron Mountain Inc., an information management services company headquartered in Boston, said today that it has acquired Mimosa Systems Inc. of California for about $112 million.

Icahn seeks seats on Genzyme's board
Globe Staff Genzyme Corp., a Cambridge biotechnology company, announced today that it has received notice from Icahn Partners LP and certain of its affiliates of their intention to nominate four individuals to Genzyme's board of directors at the company's 2010 annual meeting of shareholders.

GTC enters $7m financing agreement
Globe Staff GTC Biotherapeutics Inc. said that LFB Biotechnologies has agreed to provide $7 million of new loan financing to Framingham-based GTC. In a press release, GTC described LFB Biotechnologies as both a strategic shareholder in GTC and a strategic...

Sneaker campaign aims to knock your socks off
Globe Staff New Balance Athletic Shoe Inc., a Boston company that makes athletic footwear and apparel, announced the launch of New Balance 365, a collection of 365 short online films that seeks to engage consumers with the New Balance brand...

Boston-Power taps former GM exec for its board
Globe Staff Boston-Power Inc., a Westborough company focused on lithium-ion batteries, said that Robert C. Purcell Jr. has joined its board of directors. Purcell is a former executive with General Motors, and from 1994 to 2002, he led the GM...

Today in Globe Business
The sound of science PROVIDENCE - Seth Horowitz has super hearing. As a toddler, chicken pox invaded his ears, bursting both eardrums. When they healed, his hearing range had shifted higher. Today, he can hear a computer monitor humming three...

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