 | Thu. Sep. 29, 2011 Acadian’s Franklin to become CEO
Acadian Asset Management LLC, a Boston-based money manager that uses quantitative techniques to invest, said Churchill G. Franklin will become chief executive officer on Jan. 1, 2013. Franklin has been with Acadian for 25 years, most recently as executive vice president overseeing client service, sales, marketing and technology, the company said today in a statement. He will replace Ronald D. Frashure, 68, who will become chairman as Gary L. Bergstrom retires from that role at the end of this year. AMSC superconductor cable energized in Korea’s power grid
A second-generation superconductor wire made by American Superconductor Corp. has been switched on in Korea’s electricity grid. Devens-based American Superconductor, known as AMSC, said that this is the longest second-generation superconductor cable to be in use in a grid anywhere in the world. According to AMSC, its superconductor power cable systems can conduct up to 10 times the amount of power of conventional cables made with copper wire. Jordan’s: If the Bruins win the cup again, customers could win free furniture
Jordan’s Furniture unveiled a promotion that could have customers winning free furniture if the Boston Bruins repeat as Stanley Cup champions. The promotion, called “The Big Check,” is similar to those that Jordan’s has pegged to the fortunes of the Boston Red Sox. Under the Big Check promotion, sofas, sectionals, beds, dining room tables, rugs, or mattresses purchased starting tomorrow and until October 30 will be free if the Bruins win the championship this season. Mass. foreclosures hit highest monthly level of 2011
Massachusetts foreclosures reached their highest monthly level so far this year, with 937 foreclosure deeds recorded in August, the Warren Group reported today. But that total was more than 22 percent lower than the total in August 2010. Many lenders delayed the foreclosure process after reports of sloppy practices. That delay may be over. And now the Warren Group sees the possibility that “a glut of foreclosed homes will be pushed through the pipeline in coming months and years.” Second best city for seniors? Boston
Forget about Florida and the belief that old people crave the sun. A new survey finds that Minneapolis and Boston are the two best US cities for senior living, with Minneapolis tops. Pittsburgh and Cleveland also ranked high --- perhaps because senior citizens are as interested in support services and the cultural environment as they are in a day at the beach. So concludes a new “Best City for Seniors” survey, which was conducted for the Bankers Life and Casualty Company Center For a Secure Retirement. $70m earmarked for Cambridge lab project in Kendall Square
Skanska USA Inc. said it is investing $70 million to develop a laboratory and office building at 150 Second St. in Kendall Square. Skanska USA, a development and construction company headquartered in New York, acquired the site’s 60,000 square foot parcel in November. It added that Elkus Manfredi Architects is now designing a three-story building that aims to meet the US Green Building Council’s LEED Gold standards. The building will house about 120,000 square feet of lab space. Ocean Spray readies Craisins and chef Ming Tsai for Epcot exhibit
Ocean Spray Cranberries Inc., the cooperative of cranberry and grapefruit growers, said it will exhibit its Craisins brand of dried cranberries at the Epcot International Food & Wine Festival in Florida. The exhibit is scheduled to run through Nov. 13, and plans call for celebrity chef Ming Tsai to appear at the cranberry bog exhibit on Oct. 11. The exhibit aims to extol the versatility of the Craisin and how it should be regular ingredient in any serious cook’s repertoire. iRobot gets $60m Army contract
Bedford’s iRobot Corp. said it has received a five-year, $60 million contract from the US Army’s Robotic Systems Joint Program Office. One company product is the PackBot, a robot that is designed to perform such military tasks as bomb disposal, reconnaissance, and other missions. Under the contract, the Army can procure robots, parts, and support services. IRobot said it has delivered more than 4,000 of this type of robot to military services and law enforcement agencies around the world. Reebok to pay $25m in refunds to settle FTC charges of deceptive advertising on toning shoes
The Federal Trade Commission said today that Reebok International Ltd. has agreed to resolve charges that the company deceptively advertised “toning shoes.” According to the FTC, toning shoes claimed they would provide extra tone and strength to leg and buttock muscles. As part of the agreement, Reebok will pay $25 million. The funds will be made available for consumer refunds either directly from the FTC or through a court-approved class action lawsuit. Amazon unveils $199 Kindle Fire Tablet, taking on Apple iPad
Amazon.com Inc., the world’s largest online retailer, unveiled its Kindle Fire tablet computer, taking aim at Apple Inc.’s bestselling iPad with a device that’s smaller and less than half the price. MBTA testing plug-in hybrid Ram pickups
The MBTA this morning is taking delivery of 10 plug-in hybrid pickup trucks as part of a national test with Chrysler. Chrysler is loaning the prototype Ram 1500 PHEV, an electrified version of its full-size pickup, to the MBTA and eight other municipalities across the country, including San Francisco and Albany. A $48 million grant from the Department of Energy, sourced from the $787 billion stimulus package in 2009, is paying nearly half the tab for the 140 PHEV trucks in the test fleet. Chrysler is footing the other $49.4 million. |
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