Mon. Aug. 08, 2011 Galvin: State rules for ‘expert’ networks go into effect in Dec.
Secretary of State William Galvin said today that a new rule that will regulate how hedge funds can use so-called expert networks will go into effect Dec. 1. Galvin proposed the rule earlier this year following a federal probe of expert networks that found they sometimes passed along information that enabled insider trading. The new state rule would require investment advisers that hire such firms to obtain written certification that the experts are not subject to confidentiality restrictions - and will not pass along confidential information to the investors. MFS survey: Investors are shifting to cash
Stocks on Wall Street fell this morning, partly on jitters following the recent downgrade of long-term US debt, and one possible reaction could be that more investors --- and particularly younger ones --- will turn to cash. A new survey from MFS Investment Management concluded that even weeks before the turmoil of recent days, there were signs that conventional investing wisdom may no longer apply. Mass. foreclosures start to pick up again
June posted the highest number of Massachusetts foreclosures for any month so far this year, the Warren Group reported. In June, 931 foreclosures were recorded, up 64 percent from the previous month. On a year-to-year basis, June 2011 foreclosures in Massachusetts were down 29 percent from June 2010, said the Warren Group, a Boston firm that tracks local real estate activity. After months of lenders slowing the foreclosure process, more foreclosures are now pushing through the pipeline. Harris Corp. awarded $50m contract
Harris Corp., a Florida company with operations in Chelmsford, said it has received a $50 million work-order contract from the Oregon Department of Transportation to deliver public safety radios, technology, and services for the Oregon State Radio Project. The project will support the mission-critical communications needs of agency and the Oregon State Police. Kadant lands $18.1m in orders
Kadant Inc., a Westford-based supplier to the global pulp and paper industry, said today that it has received orders totaling $18.1 million from two pulp and paper producers in Chile and the United States for chemical pulping equipment and a recycling system. Kadant also announced that it has been awarded contracts to provide chemical pulping equipment and a stock-preparation system with a combined value of $17.5 million from pulp and paper producers in Russia and China. Staples, ‘Pretty Little Liars’ stars stuff backpacks for LA students
Staples enlisted the help of young celebrities last night to stuff backpacks full of school supplies that will go to students in Los Angeles. It’s the fourth year that Staples has organized such an event. This year’s celebrities included Ashley Benson and Shay Mitchell, who star in “Pretty Little Liars,” a show on the ABC Family network. Lumenpulse completes $16m round
Lumenpulse Inc., a Canadian company with US headquarters in Boston, said that it has completed a $16 million Series A equity and debt round to be used to support the growth of Lumenpulse and to extend market and product development. Lumenpulse is a developer and a manufacturer of high performance, architectural LED-based lighting. According to an industry group projection, the LED fixtures market is expected to reach $9 billion by 2014. Verizon strike includes 6,000 workers in Massachusetts, one of biggest in years
About 45,000 Verizon employees, including 6,000 in Massachusetts, went on strike today after failing to reach a new union contract in one of the biggest labor actions in the US in recent years. Climbing a `wall of worry’: Questions, answers on the recent stock market slide
The U.S. stock market has lost more than 11 percent since the end of April, measured by the Standard & Poor’s 500 Index. Signs point to weakening economy. Could this be the start of another bear market? A Boston money manager tackles this and other questions. iCar, Wheels to Go is shutting down
Somerville’s iCar, Wheels to Go --- a car-sharing company that competed in the same market as Zipcar Inc. --- is shutting down after a year in business. The company has directed its several hundred members to Mint Cars On-Demand, which is granting iCar customers free membership for a year. Mint Cars is a New York-based company that entered the Boston market in March. Pine Street Inn, hopeFound may merge
Two of Boston’s largest homeless shelters will decide by the fall whether to merge. | 
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