Friday, June 11, 2010

Daily Business Update from the Boston Globe

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Friday, June 11, 2010

Alleged Ponzi schemer ordered to pay $29 million
By Steven Syre, Globe Staff Richard Elkinson of Framingham, who allegedly bilked 130 investors in a Ponzi scheme, was ordered by a federal judge today to pay a fine and settlement charges totalling $29 million. US District Judge Joseph Tauro...

Patrick, Baker clash over Mass. business climate
Associated Press Massachusetts Gov. Deval Patrick and Republican challenger Charles Baker clashed sharply today about the state's business climate and their approach to improving it. Patrick said his opponent doesn't care about the humanity of the work force, while Baker...

Vermont's largest electric company to cut rates
Associated Press Customers of Vermont's largest electric utility are going to see their bills go down slightly. The Central Vermont Public Service Corp. says a 1.15 percent surcharge approved last year by state regulators to help pay for repairs following...

Next Rock Band to feature real instruments
Harmonix Music Systems, the creators of the popular Rock Band video game series, today revealed that the next generation of the game, to appear later this year, will include a "guitar/controller hybrid." The game will use a guitar created...

Javelin gets $2 million loan from Hospira
Associated Press Javelin Pharmaceuticals said today that Hospira, Inc. funded a $2 million loan to the company. Hospira funded the loan on June 10 under an existing agreement between the companies. The companies are currently embroiled in a lawsuit over...

Common Boston festival releases schedule
Common Boston Week 2010, the 4th annual free festival of architecture and design in Boston's neighborhoods, has released this year's schedule. The festival, which runs from Thursday, June 17 through Sunday June 27, includes more than forty free, public...

Needham Bank sponsors Bay Colony Rail Trail project
Jack W. McGeorge (right), president of Needham Bank, confers with Bay Colony Rail Trail President Tad Staley Needham Bank, which has five branches throughout the greater Boston area, has committed to a $10,000 founding sponsorship of the Bay Colony...

$295m budget fix signed into law in NH
Associated Press Gov. John Lynch has put his signature a legislative fix to close a projected $295 million shortfall in New Hampshire's budget. The new law uses a combination of spending cuts, borrowing and potential land sales to balance the...

Vt. maple crop down, but not like elsewhere
Associated Press The quick warmup this spring switched sugar maples from sap-making to bud-popping, lowering Vermont's maple syrup production slightly. But the 3 percent drop seen in Vermont from 2009 to 2010 wasn't nearly as high as the reduction in...

RI House, Senate OK casino gambling referendum
Associated Press Rhode Island lawmakers agreed to seek voter approval on allowing expanded gambling in the state as the legislative session came to a close. Late Thursday, the House of Representatives passed a bill authorizing a voter referendum on whether...

Mass. GOP's Baker calls for cut to corporate taxes
Associated Press Republican gubernatorial candidate Charles Baker unveiled a plan Thursday to reduce business taxes in Massachusetts, saying it will create job growth badly needed in the state. In a speech to the pro-business Greater Boston Chamber of Commerce, Baker...

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