Thu. Oct. 20, 2011 Survey: Mass. is the most energy-efficient state
Massachusetts has overtaken California as the most energy-efficient state, according to a new survey from the American Council for an Energy-Efficient Economy. The council, a nonprofit group that looks to advance energy efficiency, uses a scorecard to rate the states. Among the areas that the council reviews are transportation policies, building energy codes, and state government initiatives. This is the fifth time that the council has issued rankings. California held the top spot for the first four editions of the council’s scorecard. Cisco agrees to buy BNI Video for $99m
Cisco Systems Inc. said it has agreed to pay $99 million to buy BNI Video, a Boxborough software company that allows video service providers to incorporate such applications as social networking and search into their offerings. Cisco, the biggest maker of networking equipment, recently released a study that found that Internet video is expected to make up 40 percent of all consumer Internet traffic worldwide in 2011. The acquisition of BNI Video will advance the capabilities of Cisco’s Videoscape TV platform. NY Times profit tops estimates on digital subscriber gains
New York Times Co., publisher of the namesake newspaper and owner of The Boston Globe, topped analysts’ estimates for third-quarter earnings as online subscriptions helped boost circulation. Earnings per share, excluding some items, fell to 5 cents, the New York-based company said in a statement today. That compared with the average estimate of 3 cents from analysts in a Bloomberg survey. Revenue fell 3.1 percent to $537.2 million. Analysts had projected $540.5 million. Harvard researchers: Home remodeling activity likely to remain weak
A sluggish economy will continue to make Americans nervous about spending money on large home improvement projects, according to researchers from Harvard University’s Joint Center for Housing Studies. The center’s Leading Indicator of Remodeling Activity points to a modest decline in annual homeowner improvement spending over the next several quarters. “We appear to be entering another period of softening,” Eric S. Belsky, managing director of the Joint Center, said in a statement. Mass. unemployment rate drops to 7.3 percent
The Massachusetts unemployment rate dropped in September to 7.3 percent, down from 7.4 percent in August and to its lowest level in nearly three years, the state’s Executive Office of Labor and Workforce Development said today. The national unemployment rate is 9.1 percent. Preliminary September job estimates show that the Bay State’s economy lost 2,300 jobs last month. Proteostasis Therapeutics taps Enyedy to be chief executive
Proteostasis Therapeutics, a Cambridge company developing small molecule drugs, announced the appointment of Mark J. Enyedy as chief executive. Enyedy joins Proteostasis after spending 15 years at Genzyme Corp., most recently as president of the Transplant, Oncology and Multiple Sclerosis divisions. Proteostasis chairman Chris Mirabelli said of Enyedy, “His experience in operations, R&D management, and business development is an ideal fit for a company of our stage.” Boston Scientific reports 25 percent fall in 3Q profit
Boston Scientific Corp., the Natick-based medical device maker, reported third-quarter profit fell 25 percent on a combination of lower product sales and thinner profit margins. Revenue fell from $1.92 billion to $1.87 billion, mainly because of falling demand for implantable heart defibrillators. Like other medical device makers, Boston Scientific has struggled in recent years to make up for lower sales of those key products, amid cost-cutting efforts by hospitals and medical studies suggesting the implants are overused. Foreclosures drop in Massachusetts
A total of 737 foreclosure deeds were recorded in Massachusetts for the month of September, a 17 percent drop from the same month a year ago, the Warren Group said. Karp’s New England Development to help develop a Florida shopping center
A partnership of developers that includes Stephen Karp’s New England Development has acquired an 80-acre property in West Palm Beach, Fla., that it plans to turn into a fashion outlet shopping mall. The project is being developed by a partnership of Newton-based New England Development, Eastern Real Estate, and Lubert-Adler. Palm Beach Fashion Outlets is expected to open in 2013. Fed finds New England businesses downbeat
New England businesses reported growth, but were increasingly pessimistic in their outlook due to national political and economic uncertainties, according to a survey released by the Federal Reserve. Manufacturers reported “mixed” revenues. Retailers said they are having a difficult time gauging their current situation or predicting what to expect for the 2011 holiday sales season. Business service firms said they are generally raising prices. One of the only business sectors to report “robust” growth was marketing and advertising. Fed’s Rosengren urges easy policy until unemployment falls
Federal Reserve Bank of Boston president Eric Rosengren said he favors setting unemployment and inflation markers that would trigger a pullback from near-zero interest rates. “I think 2.5 percent or 3 percent inflation would certainly be grounds for taking away some of the accommodation,” Rosengren said in a CNBC interview. “And I would say getting the unemployment rate down to 7 percent, which some people have talked about, would certainly be a reason to remove some of the accommodation.” | 
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