Wednesday, August 18, 2010

Daily Business Update from the Boston Globe

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Globe Today

Wednesday, August 18, 2010

Buffalo Exchange plans to open a Boston store
The funky resale clothing company Buffalo Exchange is planning to open a second location in the Boston area next month.

Zipcar expands Harvard cars sharing program
Zipcar will expand its car-sharing service at Harvard University to drivers under 21, a move the company and school said will make it easier for students to forgo bringing a car to campus.

Eaton Vance 3Q revenue up 20 pct, boosts profit
Investment manager Eaton Vance Corp. said that a 20 percent increase in revenue contributed to improved third-quarter profit, but the results missed Wall Street estimates and shares slid.

Dreyfus new CEO at Blue Cross Blue Shield
Blue Cross Blue Shield of Massachusetts, the state's largest health insurance carrier, this morning said its board tapped Andrew Dreyfus as its new president and chief executive.

Hilton Back Bay operator explores bankruptcy
The hotel chain that operates the Hilton Boston Back Bay is exploring a potential bankruptcy filing, the Wall Street Journal is reporting.

Thermo Fisher opens tech center in Shanghai
Laboratory sciences supplier Thermo Fisher Scientific Inc. said it has opened a technology center in Shanghai.

BJ's 2Q net income edges up, cuts yearly view
NATICK -- Warehouse club operator BJ's Wholesale Club Inc. said its second-quarter net income rose 2 percent, but the company lowered its guidance for the year.

For drivers, frisky dogs are as distracting as texting
Much attention has been paid to texting while driving - a state law set to go into effect shortly bans behind-the-wheel texting - but driving with a dog can also be risky and distracting.

Biogen Idec signs potential $345m license deal
Biogen Idec has signed an agreement with Knopp Neurosciences for an exclusive worldwide license to develop and commercialize KNS-760704, a potential treatment of amyotrophic lateral sclerosis, which is also known as ALS or Lou Gehrig's disease.

City planners OK several development projects
Greenway-specific planning guidelines and the proposed expansion of Liberty Mutual's Boston headquarters were among the projects approved last evening by city planners, the office of Mayor Thomas M. Menino announced.

RI to break ground on commuter rail station
PROVIDENCE -- State and local officials will break ground Wednesday on a new train station in North Kingstown that will extend commuter rail service from Boston to the southern part of Rhode Island by the end of 2011.

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

Tuesday, August 17, 2010

OneUnited skipped dividend payment to government
OneUnited Bank chief executive Kevin Cohee, confirmed that the bank did not pay a dividend to the government due this week on $12 million in bailout funds.

Friendly's has a new CEO
Friendly Ice Cream Corp., the Wilbraham-based chain of restaurants, said that Harsha V. Agadi has been named chairman and chief executive, effective immediately.

Stryker said to eye Boston Scientific's pain business
Stryker Corp., a maker of artificial hips, is looking to buy Boston Scientific Corp.?s pain-management device unit for about $1.5 billion, Bloomberg News is reporting.

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