Monday, August 29, 2011

Daily Business Update from the Boston Globe

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Mon. Aug. 29, 2011

Irene gives local billboard crews a workout
Wind is the enemy of the billboard, says Stephen Ross, president of the Boston division of Clear Channel Outdoor. To protect Clear Channel billboards from wind damage, crews removed about 100 ads in the days leading up to the Hub arrival of Hurricane/Tropical Storm Irene. Now exhausted crews must put all those signs back up again. Clear Channel has a local billboard inventory of 400 faces. (Some boards can have two faces --- or ads on two sides).

Mass. gas prices fall 3 cents a gallon
The average price for gas in Massachusetts is $3.619 a gallon in the latest weekly survey from AAA, down 3 cents from the previous week’s average, AAA Southern New England said this morning.

Lantos announces new CEO, new funding
Lantos Technologies announced the appointment of a new chief executive and the closing of a $4.1 million Series B round of financing. Jeffrey C. Leathe will take over as the company looks to commercialize technology for mapping the human ear canal. The hope is that this technology will lead to improved products such as hearing aids and noise-cancelling earphones.

Six Mass. Wal-Marts remain closed because of power outages
Local officials for Wal-Mart Stores Inc. said six of the discount chain’s 47 Massachusetts stores are closed this morning because of storm-related power outages. The closed stores are in Wareham, Avon, Abington, Brockton, Bellingham, and Framingham. The hope is that some or all of the stores will be able to reopen later in the day.

Charlie Sheen trick-or-treat? iParty gears up for Halloween
At iParty, a Dedham-based chain of party-goods stores, there are high hopes for Halloween. When celebrities land on the gossip pages for the high-profile doing of the reprehensible, college kids want to dress up like said celebrities and spoof them on Halloween. Want to be a faux Charlie Sheen? Then iParty might be able to help you out. Since it’s been a bumper year for celebrity scandals --- at least by iParty’s reckoning --- chain officials think their Halloween business could be strong.

Joule to relocate to Bedford
Joule Unlimited Technologies Inc., a company developing technology to make ethanol more efficiently, is “expanding and relocating its headquarters” from Cambridge to the Bedford Business Park in a move that will roughly double Joule’s space, said a broker involved in the transaction. The move is expected to take place early next year.

Partners posts higher third-quarter income
Partners HealthCare System Inc. reported substantially higher earnings for the three months ending June 30, crediting better investment performance, research revenue increases, and modest growth in patient discharges at its Boston-area hospitals.

Covidien signs on as Deutsche Bank Championship sponsor
The Deutsche Bank Championship, a local golf tournament held over Labor Day weekend at the TPC Boston golf course, announced a new partnership with Covidien, a global health care products company with US headquarters in Mansfield. The partnership will focus on health and wellness and will support local children’s programs.

Harvest Co-op inks deal for store at planned Forest Hills development
Local cooperative grocer Harvest Co-op Market has signed a lease to open a new, 9,000 square-foot store as the “anchor” retailer within a Forest Hills development in Boston that is expected to begin construction in the coming months. The store along Washington Street near the Forest Hills MBTA station is expected to open next fall, officials said. Earlier this spring, the market announced it had signed a letter of intent to negotiate a a new store lease at that site as well as another in Fenway.

Boston Marathon charity programs raise $16m
Participants running on behalf of various charities raised nearly $16 million this year in the 115th running of the Boston Marathon, up from $14.4 million the previous year, the race’s principal sponsor said. In 2011, the John Hancock component of the joint program raised more than $5.3 million, compared with $4.3 million in 2010. Beneficiaries included Massachusetts General Hospital, Joslin Diabetes Center, and Massachusetts Eye & Ear Infirmary.

NH home sales jump nearly 30 percent in July
Home sales in New Hampshire jumped nearly 30 percent last month when compared to July 2010, but the state realtors association is warning people not to get too excited. The New Hampshire Association of Realtors reported today that 1,048 homes were sold in July, up from 811 sales in the year-ago month.

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