Wednesday, May 25, 2011

Daily Business Update from the Boston Globe

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Wednesday, May 25, 2011

Hasbro to move 70 jobs from Mass. to R.I., lay off 75
PAWTUCKET, R.I. -- Toymaker Hasbro Inc. is moving about 70 jobs from its Western Massachusetts facility to Rhode Island and laying off another 75 Massachusetts-based workers in a reorganization of its gaming division.

Kiva cuts ribbon on North Reading HQ
Kiva Systems, a developer of mobile robots designed to automate warehouse operations, said it has just held the official ribbon-cutting ceremony for its new headquarters in North Reading.

Xpo panel: Sports teams cater to luxury box fans
Boston sports franchises are catering to the deep pocket fans opting for luxury suites. Executives of the sports hub agree and are unapologetic.

Proteostasis Therapeutics teams up with Elan
Proteostasis Therapeutics of Cambridge said it has formed "a strategic business relationship" with Elan Corp., an Irish drug company.

IdeaPaint is now available at Lowe's nationwide
Ashland-based IdeaPaint said today that its home product is now available at all of Lowe's roughly 1,750 home-improvement stores in the United States.

Cars 2 likely to lap Winnie the Pooh
Winnie the Pooh is sucking wind to toys tied to the upcoming movie "Car 2: World Grand Prix," according to an analysis of toy shipments related to children's movies set for summer release.

MITX launches mentoring program for start-ups
The Massachusetts Innovation and Technology Exchange, an organization representing the digital marketing, media and internet technology community, has unveiled an initiative called MITX Up.

New CEO tapped for American Superconductor
American Superconductor Corp., a power technologies company headquartered in Devens, said that Daniel P. McGahn, president and chief operating officer, has been appointed chief executive, effective June 1.

FDA OK's Boston Scientific stent
Boston Scientific Corp., the Natick-based medical device company, said today that has received FDA approval to market its 2.25 mm PROMUS Everolimus-Eluting Coronary Stent System for use in vessels as small as 2.25 mm in diameter.

Proposal would bar state from silencing employees
Massachusetts state agencies would be barred from silencing their employees as part of severance or settlement pacts unless they publicly explain why such restrictions are needed, under a budget proposal from Bruce E. Tarr, the Senate minority leader.

Tuesday, May 24, 2011

AG Coakley orders Dedham firm to pay fines
Globe Staff The office of Massachusetts Attorney General Martha Coakley said it has ordered a Dedham construction company to pay more than $100,000 in restitution and penalties for improperly classifying workers as independent contractors. Coakley's office cited Lancaster Enterprises Inc....

Boston company to set up support center in Maine
A Boston-based company that provides computer hard-drive backup services is setting up a customer support center in Maine's second largest city with plans to have more than 150 employees there by the end of the year, officials announced Tuesday.

MassChallenge announces finalists
Officials at MassChallenge global start-up competition said today that they have winnowed this year's crop of 733 entries to 125 finalists, which will now have a chance to compete for $1 million in grants.

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