Fri. Oct. 14, 2011 Walmart Foundation chief McKenna steps down
Margaret A. McKenna, the Boston-based chief of the Walmart Foundation, is stepping down today from the nation’s largest corporate philanthropy. McKenna, the former president of Lesley University in Cambridge, will be succeeded in the post by Sylvia Mathews Burwell of the Bill & Melinda Gates Foundation. Burwell officially takes the post in January 2012; McKenna said she will continue to consult for the foundation during a transitional period. McKenna has run the charitable arm of Wal-Mart Stores Inc. since 2007. Citizens Bank swamped by computer outage
Citizens Bank, one of the largest banks in Massachusetts, was hit today by a major glitch affecting its computer systems. Bank customers in multiple states reported problems with everything from online banking to deposits to automatic teller machines. WGBH-FM to highlight Boston’s innovators
WGBH-FM 89.7 is launching a new weekend show aimed at highlighting area innovators. The one-hour show called “Innovation Hub” will look at the latest innovations from Boston-area inventors, entrepreneurs and reseachers as they sit for a round-table discussion to talk about social and technological issues. The show launches at 7 a.m. Oct. 15 and then be rebroadcast at 10 p.m. Sunday. Fed agency says it will fight Friendly’s effort to dump employee pensions during bankruptcy
A federal agency that monitors company pension plans is accusing Friendly Ice Cream Corp. of filing for bankruptcy protection in order to get out of paying the pensions of nearly 6,000 workers and retirees. New York firm completes lease acquisition for Faneuil Hall Marketplace
Ashkenazy Acquisition Corp., a New York real estate firm, announced today that it has closed on the acquisition of the 63-year ground lease for Faneuil Hall Marketplace in Boston from General Growth Properties. Ashkenazy has retained Jones Lang LaSalle, the country’s largest third-party manager of retail real estate, as the property management company for Faneuil Hall Marketplace. Ashkenazy said it expect to make future improvements to the property and anticipates working closely with the Boston Redevelopment Authority to reinvigorate the shopping center Myomo wins MassTLC award for product of the year
The Massachusetts Technology Leadership Council, a trade group that refers to itself as MassTLC, has given its product-of-the-year award to Myomo Inc., a Cambridge medical device company. Selected from among 15 finalists, the winning product is a portable robotic arm brace that helps stroke victims regain some movement and retrain weakened muscles. The device is based on technology developed at MIT in collaboration with researchers from Harvard Medical School. KHJ plans move to Boston’s Seaport District
Branding firm KHJ Brand Activation is planning to relocate from Charlestown to larger space in Boston’s Seaport District early next year. With 38 employees, KHJ currently occupies nearly 10,000 square feet of space in Charlestown. The firm said it plans to hire additional staff after it completes its relocation to nearly 15,000 square feet of space in the Seaport West tower of Seaport Place. The tower’s owner is Pembroke Real Estate, the commerical real estate arm of Fidelity Investments. Porter Airlines taps Vermont as new winter destination
Canadian skiers craving Vermont powder have a new way to get to the Green Mountain State’s slopes this winter. Porter Airlines is adding seasonal service from Toronto to Burlington starting Dec. 15, the Canadian carrier’s fifth US destination. The airline is offering two flights a week, on Thursdays and Sundays (changing to Mondays on long weekends) through April 8, with roundtrip fares starting at $200, plus fees and taxes. Nuance launches Dragon speech recognition apps in Denmark and Poland
Burlington’s Nuance Communications Inc. continues to expand the reach of its Dragon brand of speech recognition products with the launch of apps for speakers of Danish and Polish. Nuance said today that its Dragon Dictation and Dragon Search apps for the iPhone, the iPod touch, and the iPad have made their debut in Denmark, following a recent launch in Poland. Those launches mean that there are now 24 countries where Dragon apps are available; the apps support 21 languages. Verizon: New service creates ‘smart home’
A new service from Verizon Communications Inc. “creates a smart home for customers” by giving them remote access to door locks, thermostat controls, and appliances, among other things. Another feature enables them to plot their household’s carbon footprint. In performing these tasks, customers can opt to use a smart phone, a personal computer, a television hooked up to Verizon’s FiOS TV service, and, eventually, a connected tablet computer. The service is offered for $9.99 per month. Equipment packages begin at $69.99. NY tops Mass. in US venture deals for first time
New York passed Massachusetts in US venture-capital deals for the first time since at least 1999, ranking second in the latest quarter behind California, as investors seek growth in consumer Internet startups. New York companies took in $831 million in 86 venture- capital deals in the third quarter, compared with $710 million for 83 investments in Massachusetts, according to a report released today by CB Insights, a venture-capital database. A total of 790 US firms received $7.9 billion in the fourth straight quarter of venture investment growth. | 
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