Tuesday, November 22, 2011

Daily Business Update from the Boston Globe

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Tue. Nov. 22, 2011

MassHousing awards $300k for sober housing
MassHousing, the state’s affordable housing bank, said it has awarded $300,000 in financing to help create or preserve affordable sober housing in Brockton, Lowell, Springfield, and Worcester. The grants will come from the Center for Community Recovery Innovations Inc., a nonprofit subsidiary of MassHousing. Among grant recipients are the EMH Recovery Graduate House in Brockton and the Lowell House in Lowell. Also receiving grants are the Puerto Rican Veterans Association of Massachusetts in Springfield and Community Healthlink Inc. in Worcester.

Zappos.com to pay Turnpike tolls at Allston/Brighton tomorrow evening
Online retailer Zappos.com is planning to give local travelers an early holiday gift. Between the hours of 5 p.m. and 7 p.m. tomorrow, the company has agreed to pay the tolls for all motorists using the Allston/Brighton Toll Complex on the Massachusetts Turnpike. Normally, the toll is $1.25 for those paying cash. Zappos.com may be best known for its apparel and footwear.

Fidelity market data can now be viewed on Verizon FiOS TV
Investor research data from Fidelity Investments will now be available to 4 million customers of Verizon Communications Inc.’s FiOS TV service. A new app will give those customers “instant access, directly on their televisions,” to market data that includes stock quotes, charts, watch lists, and financial news. That data round-up is collectively known as the Fidelity Market Monitor Application. FiOS TV subscribers can access the Fidelity Market Monitor Application with their TV remote control.

Foreclosure activity accelerates in Mass.
Massachusetts foreclosure activity increased on a year-to-year basis in October, following more than a year of declines, the Warren Group said this morning. Many major lenders slowed the foreclosure process last year after some bank employees, now known as robo-signers, acknowledged they were signing thousands of foreclosure-related documents without properly reviewing the paperwork. But now banks and mortgage companies have started to speed up seizure proceedings.

Will Washington gridlock hurt Black Friday sales?
Will the failure of Washington politicians to reach an agreement on federal taxes and spending have an impact on holiday shopping? At least one retail analyst thinks that might be a possibility. “This year, it won’t be the Grinch that will steal Christmas, but it might be the government that does,” Marshal Cohen, NPD Group’s chief industry analyst, said in a statement. “With the federal budget deadline looming, consumers may just be distracted right out of the ‘spirit of giving’ for holiday.”

State promotes energy-efficient program in Western Mass.
Massachusetts energy officials are promoting an $8 million program intended to help Western Massachusetts residents hit by June tornadoes invest in energy-efficient and clean energy technology. The ReBuild Western Massachusetts program includes interest-free loans and grants to help rebuild homes, incentives for energy-efficient space and water heaters as well as air conditioning and weatherization measures. It also includes solar photovoltaic and solar thermal incentives and one-to-one services to help applicants maximize access to the program.

Comcast: Wait time for service appointments has shrunk from four hours to two
A Comcast Corp. initiative to shorten the waiting times for most scheduled service appointments to two hours is now in effect in the Greater Boston market. In June, the Philadelphia-based provider of such services as cable television and Internet access announced plans to shorten the appointment windows for Comcast technicians making house calls from four hours to two hours by 2012. Comcast is rolling out the initiative market by market, and it is now being implemented locally.

Mass. gas prices fall 6 cents a gallon
The average price of gas in Massachusetts was $3.339 a gallon in the latest weekly AAA survey, down 6 cents from the previous week’s average, AAA Southern New England said. The current national average is $3.35, AAA Southern New England said. A year ago at this time, the Massachusetts average was $2.92. AAA survey’s focus on self-serve, regular unleaded gas.

Crimson Hexagon relocates to Boston’s Seaport District
Crimson Hexagon Inc. has relocated from Cambridge to new space in Boston’s Seaport District, a neighborhood that Mayor Thomas M. Menino likes to call the Innovation District. Today is the firm’s official first day in new offices with about 11,000 square feet of space, or roughly quadruple the size of its previous office in Central Square. Besides a need for more space, the firm wanted to be in a place that would help it recruit talent.

BJ’s talks up holiday toys
BJ’s Wholesale Club is looking to get the word out that its stores are now stocked with toys that promise to be among this season’s most popular items. The Westborough-based chain said that toys available at its 192 club stores include Sesame Street Let’s Rock Elmo, I Am T-Pain Auto Tune Mic, and Lego Alien Conquest and Ninjago --- all listed on CNBC’s Hot Holiday Toys List for 2011. BJ’s was recently taken private.

Global Partners to buy Alliance Energy in deal valued at $296 million
Global Partners LP has agreed to buy 100 percent of the membership interests of Alliance Energy LLC in a transaction with an enterprise value of $296 million. Global Partners, a public company based in Waltham, owns, controls, or has access to one of the largest terminal networks of refined petroleum products in the Northeast. Also based in Waltham, Alliance is a privately owned gasoline distributor that also operates 542 gasoline stations in New England, New York, New Jersey, and Pennsylvania.

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