Thursday, March 18, 2010

Daily Business Update from the Boston Globe

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Thursday, March 18, 2010

CVS CEO's pay fell 17 percent to $14.4m in 2009
CVS Caremark's chief executive Thomas Ryan received compensation valued at $14.4 million in 2009, a drop of 17 percent from the previous year.

Viacom's Dauman will address BC CEO club
Philippe P. Dauman, president and chief executive of the media and entertainment company Viacom Inc., will be the keynote speaker at the Boston College's Chief Executives? Club of Boston luncheon March 25 at the Boston Harbor Hotel?s Wharf Room, the club said today.

Masson is new CTO for UMassOnline
Patrick Jay Masson has been selected to be the new chief technology officer at UMassOnline, the online learning consortium of the University of Massachusetts.

Novelos discontinues a drug program
Novelos Therapeutics Inc. said it is discontinuing a development program for a potential treatment of advanced non-small cell lung cancer after disappointing test results.

Charles River Assoc. cuts jobs on subpar quarter
Charles River Associates, a Boston company that provides management and financial consulting services, said it expects to eliminate 47 jobs as part of cost-cutting initiatives.

Mass. unemployment rate is unchaged at 9.5%
The Massachusetts unemployment rate of 9.5 percent in February was unchanged from January, the Massachusetts Executive Office of Labor and Workforce Development reported today.

Genocea licenses Children's Hospital antigens
Genocea Biosciences, a Cambridge company focused on developing vaccines, announced an exclusive worldwide license for developed countries to a portfolio of Streptococcus pneumoniae antigens from Children's Hospital Boston.

Casual Male posts earnings, talks up Destination XL
Casual Male Retail Group Inc., a Canton-based haberdasher that specializes in clothing for big and tall men, said fourth-quarter net income rose to $3.6 million from a net loss of $108.0 million a year ago even as total sales decreased by 10.1 percent.

Today in Globe Business
A round-up of Business stories from the print edition of today's Boston Globe.

Wednesday, March 17, 2010

Perry is new president at Colliers Meredith & Grew
Colliers Meredith & Grew, a Boston-based commercial real estate advisory firm, said that Ronald K. Perry (right) has been promoted to the position of president.

EMC lawsuit focuses on consulting firm
Data storage giant EMC Corp. is suing two men who helped sell it a consulting firm, then started another firm that EMC alleges competes against it in violation of the sale's conditions, according to court documents.

Bank to pay Lewis tens of millions in retirement
By Beth Healy, Globe Staff While Kenneth D. Lewis did not receive a salary in his final year as the embattled chief executive of Bank of America Corp., he retired from the company with plenty of money: his pension plans,...

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