 | Wed. Sep. 14, 2011 US government gives Amesbury bank $17 million
The federal government says it gave Provident Bancorp Inc. of Amesbury $17 million as part of controversial national program to boost small business lending by injecting money in community banks. Critics have called the Small Business Lending Fund another government bailout of banks, similar to the Troubled Asset Relief Program. They’ve dubbed it TARP Jr. and Son of TARP. So far, the Treasury Department has awarded $2.4 billion to nearly 200 banks, including $58 million to seven institutions in Massachusetts. National firm is buying FHO Partners
The Boston-based real estate firm FHO Partners is being acquired by Cassidy Turley, a national company expanding into commercial property markets across the United States, the firms announced today. FHO Partners, founded in 2007, will be formally known as Cassidy Turley FHO, effective immediately, and will transition to the Cassidy Turley name over time. FHO has 47 employees and is among the top brokerage and advisory firms in the Boston market. Survey: WilmerHale is a top law firm for women attorneys
Wilmer Cutler Pickering Hale and Dorr LP, which goes by the shorter name of WilmerHale, has made a national list of best law firms for women attorneys. The list is drawn up by the National Association for Female Executives and Flex-Time Lawyers. To make the list, a law firm must demonstrate a commitment to “women-friendly policies” that focus on such issues as flex time, work-life balance initiatives, parental leave, child care, and mentoring programs. Kates-Garnick tapped for state energy and environmental post
Barbara Kates-Garnick, a former commissioner of the state’s Department of Public Utilities, has been named as the undersecretary of energy and environmental affairs in Massachusetts. She joined the senior management team at the office earlier this month, but her appointment was announced today by Energy and Environmental Affairs Secretary Richard K. Sullivan Jr. She succeeds former undersecretary Philip Giudice, who left the energy and environmental affairs office in May. Knight returns to permanent CFO role at Bruker
Scientific instruments maker Bruker Corp. said interim chief financial officer William J. Knight is returning to the role permanently. The Billerica company had named Knight, who has served previously as CFO, as interim CFO in June after Brian Monahan took another job within the company so he could spend more time with his family. Knight also serves as the company’s chief operating officer and will continue in that role on an interim basis while Bruker searches for a replacement. Dunkin’ U has new look, new name
Dunkin’ Donuts University, a place where culinary art and food science have been known to converge, is getting a new name --- Dunkin’ Brands University --- to go along with a $2.7 million makeover. Dunkin’ Brands is the parent company of Dunkin’ Donuts and sister chain Baskin-Robbins, which is known for ice cream. At Dunkin’ Brands University, it will now be possible to major in ice cream and cake-decorating techniques as well as in donuts, coffee, and slush drinks. Boston Scientific names Mahoney president, and future chief executive
Boston Scientific Corp., a Natick-based maker of medical devices, said it has named Michael Mahoney as its president, effective Oct. 17; he is expected to be promoted to chief executive in November 2012. In May, Ray Elliott announced he would step down as president and chief executive. Mahoney currently chairs a unit of Johnson & Johnson, a rival to Boston Scientific’s stent business. The transition period for Mahoney’s promotion to Boston Scientific CEO is to accommodate his post-employment obligations to Johnson & Johnson. Google launches into online travel
In a major challenge to the travel industry’s leading websites, search engine giant Google Inc. has launched a new service allowing users to shop for plane tickets as easily as typing a Google search. City shifts tone on Filene’s project
With owner Vornado unable to sell the Downtown Crossing property for a good price, the developer has resumed its discussions with the city about leading a redevelopment of the star-crossed project. No deal is imminent, but the BRA’s director today signaled a shift in the city’s strident tone, saying he will work with Vornado to resurrect the troubled project. CEO is leaving Boston-Power
The chief executive at Boston-Power Inc., a Westborough company that makes lithium ion batteries, is leaving the firm in advance of a funding round that will likely have the company shifting some of its resources to China, according to a company spokesperson. Keith Schmid, who was named Boston-Power’s chief executive in February when company founder and former head Christina Lampe-Onnerud became executive chairman, is leaving the company along with two other executives. Fidelity replaces Magellan fund manager
Fidelity Investments said today it has replaced the manager of its long struggling Fidelity Magellan mutual fund. The Boston financial services giant has replaced Harry Lange, 59, who had run the fund since October 2005, with Jeff Feingold, 40, who has been running Fidelity’s much smaller Fidelity Trend fund. The move highlights the problems Fidelity has had with the |
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