Wednesday, November 2, 2011

Daily Business Update from the Boston Globe

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Wed. Nov. 02, 2011

Aveo reports wider loss in third quarter

Gilt City acquires BuyWithMe.com assets
Gilt City, a website that offers deals on such luxury experiences as sushi-making classes and VIP service at Foxwoods casino, said it is “acquiring assets” of BuyWithMe.com, a Boston-based daily-deal site that recently cut its workforce. Gilt City is not disclosing financial details of the transaction. Some BuyWithMe.com employees have been offered jobs at Gilt City, but a Gilt City spokeswoman declined to say how many. BuyWithMe.com competes in the crowded daily deal space that includes Groupon and Google.

Bonus survey: They could be up this year
A new survey suggests that for executives lucky enough to get a bonus, bonus checks may be a little bigger for a select few this year. That’s one finding in a new survey from Robert Half International, a California-based staffing firm. The nationwide survey was based on telephone interviews with more than 1,250 senior executives who indicated that their firms offered employee bonuses last year. About 30 percent of respondents said they expect a higher bonus this year.

Filene’s Basement files for bankruptcy, to close in 2012
Filene’s Basement filed for Chapter 11 protection this morning, the troubled retailer’s third time around in US Bankruptcy Court. The historic Massachusetts discounter could shutter for good after the holiday season. The filing is in US Bankruptcy Court in Delaware, and the chain is listing $1 to 10 million in pre-petition assets. Edward A. Filene founded Filene’s Basement more than a century ago as a way to sell excess merchandise from his father’s department store upstairs.

Mullen breaks new work for Google
Boston ad agency Mullen is helping search engine giant Google Inc. get the word out about a just-launched Google initiative called GoMo. GoMo is designed to encourage and help small businesses create website formats that are smartphone friendly. Websites that retailers and other small businesses develop for personal computers don’t always work well for consumers using smartphones, and according to Google, 61 percent of users are unlikely to return to a site that’s not mobile friendly.

Zuckerberg returns to Harvard to recruit for Facebook
The One That Got Away is coming back.

Mass. employers losing confidence, group says
A business group says Massachusetts employers appear to be losing the optimism they once had about future economic growth.

Hard Rock proposes to build casino in Holyoke
Hard Rock International

Bank of America kills plans for debit fee
Facing a backlash from angry customers, Bank of America Corp. scrapped plans to start charging them $5 a month to make debit card purchases. The move came just a day after two large regional banks, SunTrust Banks Inc. and Regions Bank, announced plans on Monday to scrap similar fees and refund the charges to customers. Two other major banks that had been testing similar fees, JP Morgan Chase & Co. and Wells Fargo & Co., last week decided said they would not charge for debit cards.

Newspaper circulation figures released
The nonprofit organization that measures newspaper circulation released figures today, using a new methodology that counts a broad spectrum of readers, including some who read digital versions.

Job openings rise in Mass., New England
The number of new job openings in Massachusetts has increased 9 percent so far this year over last year, according to a report released today by the Boston recruiting software firm Bullhorn. The news is even better around New England, with Vermont experiencing a 53 percent jump in open jobs, Maine, 33 percent, New Hampshire ,25 percent, and Rhode Island, 19 percent. Bullhorn’s Job Opportunity Index is based on openings reported by 50,000 recruiters and hiring managers at 5,000 US companies.

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