Thursday, April 29, 2010

Daily Business Update from the Boston Globe

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Thursday, April 29, 2010

Firms revise rebate policies after state review
The Massachusetts Office of Consumer Affairs and Business Regulation said that its monitoring efforts led to changes in rebate policies by Sears, Staples Inc., and T-Mobile.

Firm agrees to pay $1.3m for miscalculating wages
An Arizona-based trash disposal company has agreed to pay more than $1.3 million to about 350 of its Massachusetts workers for miscalculating overtime pay and prevailing wage rates, the office of Massachusetts Attorney General Martha Coakley said.

Drug company to pay US $22m
Federal prosecutors in Boston say a pharmaceutical company has agreed to pay $22 million to settle allegations that it claimed federal reimbursement for medications that it was not eligible to collect.

Timberland 1Q profit surges as overseas sales rise
Timberland Co.'s said today that its first-quarter profit jumped 62 percent, as overseas sales improved on a softer dollar and US customers spent a bit more.

OLPC aims to send 30m laptops to African students
One Laptop per Child aims to provide 20m African school children with its laptops by 2015.

Idenix Pharma expects $26.2m from stock sale
CAMBRIDGE - Idenix Pharmaceuticals expects to raise $26.2 million in a new stock offering, the company said today.

Compensation rises for TJX chief
TJX Cos. chief executive Carol Meyrowitz earned $17.4 million in total compensation last year, more than double her $8.5 million pay last fiscal year, the Framingham retailer reported yesterday.

Hotel Veritas taps Proverb
Proverb founder Daren Bascome said his Boston shop has been hired by the Hotel Veritas as its marketing agency of record.

DCU customers can deposit checks via iPhone
Have a smartphone with a built-in camera? Then you too can deposit a check at Digital Federal Credit Union using your iPhone or an Android phone - at least if you're a qualifying customer of DCU.

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

Wednesday, April 28, 2010

Cape Wind means business for Mass.
With the federal government's approval yesterday of the Cape Wind project in Nantucket Sound, Massachusetts stands at the nexus of the nation's growing offshore wind power industry, state and business officials said. And that means jobs: engineering jobs, construction jobs, technical service jobs and more.

W Boston hotel, condos file for bankruptcy
Just months after opening, the owner of the luxury W Boston Hotel and Residences in Park Square filed for bankruptcy today. The company said it needs breathing room to restructure debts that total more than $100 million. The filing is...

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