 | Tue. Nov. 15, 2011 Harvard said to seek sale of $1.5b in private equity
Harvard University, the world’s richest college, is seeking to sell about $1.5 billion of holdings in private-equity funds as it further cuts investments that contributed to record losses three years ago. Harvard Management Co., which oversees the school’s $32 billion endowment, plans to offer about $1 billion of stakes in predominantly US buyout funds through UBS AG, and is already taking bids on about $500 million in energy investments through Cogent Partners, according to three people briefed on the deal, who declined to identified because the information is private. New chain hopes to bring “fast food without the guilt” to the Hub
Energy Kitchen serves up 398-calorie bison burgers in New York, and now the chain thinks Greater Boston is ready for a fast-food restaurant that features nothing on its menu that’s over 500 calories. The chain is looking for potential franchisees who will open as many as 12 Energy Kitchen restaurants in Greater Boston over the next five years. Other menu items include grilled salmon and turkey meat loaf. Entrees can be ordered with such sides as steamed vegetables and mashed sweet potatoes. Tufts Medical Center and its doctors may stop accepting Blue Cross insurance in Jan.
Blue Cross Blue Shield of Massachusetts has started sending letters to about 55,000 employers and other customers notifying them that Tufts Medical Center and its doctors group is ending its contract with the state’s largest health insurer, effective Jan. 17. Construction begins on another residential tower in downtown Boston
Millennium Partners-Boston today broke ground on a 15-story residential tower across from the Ritz Carlton in downtown Boston, the latest developer to start work on a large residential project in the city. The firm’s $220 million Hayward Place development will include 256 new residences and 9,700-square feet of retail space in a glass and stone tower that will replace a scrubby parking lot in the downtown shopping district. Cohen, Rosenbaum join Nixon Peabody
Law firm Nixon Peabody LLP said it has deepened its reach in such areas as managing trusts, estates, and assets of individuals and families, with the addition of a team from the firm Edwards Wildman, which was formerly Edwards Angell Palmer & Dodge LLP and Wildman, Harrold, Allen & Dixon. Partners Lawrence B. Cohen and Jay D. Rosenbaum bring to Nixon Peabody a team providing estate planning, international private client advisory, asset management and investment, and tax services., Dansko taps Kiva Systems
Kiva Systems said that the footwear company Dansko will deploy Kiva robots in a Dansko warehouse that fulfills orders for the more than 2,500 retail locations where footwear is sold. North Reading-based Kiva specializes in developing robots that can be used to automate distribution operations and order fulfillment. Plans call for Dansko to use Kiva robots to automate its new distribution center in West Grove, Pa. TJX sales rose 5% in third quarter
TJX Cos., the Framingham-based company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said third quarter revenue rose 5 percent to $5.8 billion despite some unseasonably warm weather that hindered demand for fall apparel. Net income for the third quarter was $406 million and diluted earnings per share were $1.06, up 15 percent over $.92 per share last year, an increase that was in line with company expectations. Minority business center opening in Boston
Minority business owners in Massachusetts are set to benefit from a new resource designed to help them gain access to contracts, capital, and markets. The US Commerce Department’s Minority Business Development Agency is scheduled to formally open its new business center in Boston today to help minority businesses expand. The agency says minority businesses accounted for 9 percent of all firms located in Massachusetts in 2002, the latest year for which data is available. Comcast donates $100k to New England nonprofits
Comcast Corp., which provides such services as cable TV and Internet access, has donated $100,000 to about 40 New England nonprofits in connection with its annual service day. Local nonprofits that received a Comcast donation included City Year in Boston and the Humane Society in Lowell. The company’s service day took place on April 30 this year, and on that day, more than 5,000 volunteers performed such tasks as spring cleaning, painting, and landscaping to New England cities and towns and nonprofits. Staples 3Q profit rises, lowers 2011 outlook
Staples Inc. said today that its profit climbed 13 percent in the third quarter, helped in part by improved sales of office and break room supplies to businesses as well as promotional products. But overall revenue came in short of Wall Street expectations, and the nation’s biggest office supply company cut its adjusted earnings forecast for the full year as its international performance weakened a bit. Office suppliers have suffered during the recession and its aftermath, as consumers and small businesses continue to hold back on spending. NH man gets prison term for running mortgage fraud scheme
New Hampshire man was sentenced to four years in jail for spearheading a real estate scheme that cheated homeowners and lenders out of more than $2 million and led to a string of foreclosures in the Boston area, Attorney General Martha Coakley said. Joshua Brown, 31, was sentenced late last week in the case following a three-week trial in Suffolk Superior Court. Brown also was sentenced to 35 years of probation and ordered to pay $5 million in restitution. |
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