Friday, July 2, 2010

Daily Business Update from the Boston Globe

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Friday, July 2, 2010

Mortgage Master hit with $585k in fines
Massachusetts regulators hit Mortgage Master Inc. in Walpole with $585,000 in fines for using unlicensed mortgage brokers and other violations of state law, one of the state's largest penalties against a mortgage company in recent memory.

State, Harvard Pilgrim reach rate accord
In the latest twist in the ongoing debate between the Patrick administration and health insurers, the Massachusetts Division of Insurance announced an agreement on a rate settlement with Harvard Pilgrim Health Care.

Hot dog promotion hits Fenway Park
Kayem Foods Inc., the Chelsea-based meat processor, said it has just launched its Lucky Dog Giveaway as it simultaneously salutes Red Sox fans and National Hot Dog Month.

No local companies make diversity list
Tough times have taken a toll on corporate diversity, according to Black Enterprise, a magazine that describes itself as a "business, investing, and wealth-building resource for African Americans."

QD Vision appoints Carlson as CEO
QD Vision, a Watertown-based developer of Quantum Light nanotechnology-based products for solid state lighting and displays, announced that Jason Carlson has been named president and chief executive.

Eli Lilly agrees to buy Alnara
Drug giant Eli Lilly and Co. said it has agreed to buy Alnara Pharmaceuticals Inc., a Cambridge biotechnology company developing protein therapeutics for the treatment of metabolic diseases.

Staples buys Finnish office supply company
Staples Inc., the office supply company headquartered in Framingham, announced today the acquisition of Oy Lindell Ab, a Finnish office supply company.

BodyScapes opens fitness center in Hingham
BodyScapes said it has just opened a fitness center in the Launch retail district of the Hingham Shipyard, a mixed-use development that includes luxury residences, office space, and a marina in Hingham.

RBJ&P will market Braintree Business Park
Richards Barry Joyce & Partners LLC, or RBJ&P, a Boston-based commercial real estate advisory firm, said that it has been hired by NPV/Direct Invest, LLC as the exclusive leasing agent for the Braintree Business Park in Braintree.

Today in Globe Business
A sample of Business stories from today's Globe.

Thursday, July 1, 2010

State caps more health insurance rates
State regulators wrestling with soaring health care costs this evening held fast to a cap on prices for 137 health insurance plans up for renewal this summer, freezing rates at 2009 levels, while sending three insurers scrambling to supply more data to justify their proposed double-digit rate hikes before making a decision.

ITA Software sold to Google for $700 million
ITA Software, Inc., the flight information software company based in Cambridge, and Internet search giant Google Inc. today revealed a definitive agreement for Google to acquire ITA for $700 million in cash, subject to adjustments.

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