Fri. Dec. 02, 2011 New UMass tuna research center opens in Gloucester
A waterfront building in Gloucester that has gone unused for years has reopened as a research station that officials hope will develop into a world leader in tracking the health of tuna and other large fish stocks while providing a boost to the local and state economies. The Marine Science Research Station reopened today as a cooperative effort between the University of Massachusetts and the state Division of Marine Fisheries. Ally Financial will halt mortgage purchases in Massachusetts
Ally Financial Inc.’s GMAC Mortgage unit stopped buying home loans in Massachusetts after the state accused the five biggest providers of conducting illegal foreclosures. The halt, which affects loans originated by correspondent lenders and wholesale brokers, is “because recent developments have led mortgage lending in Massachusetts to no longer be viable,” Ally said. Yesterday Massachusetts Attorney General Martha Coakley sued Ally and four other mortgage lenders yesterday for allegedly trying to seize homes when they didn’t hold the mortgage on the properties. Accountemps: Stress doesn’t take a workplace holiday at Christmas
A new survey from Accountemps finds that workplace stress can crank up at the holidays. Accountemps provides staffing for companies in need of temporary accounting, finance, and bookkeeping services. And these folks are especially vulnerable to holiday stress. That’s because their workloads intend to increase as the year draws to a close. While they struggle to complete year-end tax forms and comply with financial reporting requirements, they still have to make time for holiday shopping and family get-togethers. Blount Fine Foods buys Cape Cod Chowder
Blount Fine Foods, a family owned soup company, said it has bought the Cape Cod Chowder Co. of Marion. Terms of the asset purchase were not disclosed. Fall River-based Blount also makes gourmet dips, sauces, and salads. Blount will move the soup production of the Cape Cod Chowder brand to its newly renovated seafood soup plant in Warren, R.I. Production of the seafood dip and spread lines, which are sold under the Offshore Delight brand, will be moved to Blount’s headquarters facility. 13 nabbed for paying kickbacks in FBI sting operation of penny stocks
The US government today charged 13 corporate executives, laywers and penny stock promoters with agreeing to pay illegal kickbacks as part of a year-long FBI sting operation run out of Boston. As a result of the probe, the Securities and Exchange Commission also suspended trading in seven thinly traded public companies involved in the case, including Symbollon Corp./Symbollon Pharmaceuticals, Inc. of Medfield and ZipGlobal Holdings Inc. in Hingham. Car sharing service Mint Cars On-Demand to expand in Boston
Mint Cars On-Demand plans to expand in the Boston area early next year, doubling its number of locations to as many as 24 and adding cars to existing facilities. Talbots loses money in 3Q, plans job cuts
Women’s clothing store Talbots Inc. said today that it lost $22 million in the August-October period, its third loss in the past four quarters, as the company struggles to revive its brands and attract customers. The Hingham-based company also outlined plans for cutting corporate jobs, trimming store employees’ hours, and closing struggling stores. Talbots said it will cut 9 percent of its corporate workers, meaning that about 100 jobs will be lost. Bingham opens Beijing office
Bingham McCutchen LLP, a law firm headquartered in Boston, announced the opening of an office in Beijing. Bingham McCutchen added that international attorney Xiaowei Ye is joining the Beijing office as a partner in the firm. Brian Beglin, a partner in the firm’s Tokyo office, is transferring to the Beijing office. Both are also principals in Bingham Consulting LLC, the firm’s affiliated consulting business. AG Martha Coakley sues major US banks over foreclosures
Massachusetts Attorney General Martha Coakley today sued five major US banks for allegedly illegally seizing properties, filing fraudulent foreclosure documents, and failing to help struggling borrowers who could have stayed in their homes if they had been allowed to make lower mortgage payments. The lawsuit targets Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co, Citigroup Inc., and GMAC, a subsidiary of Ally Financial Inc.. Lenders said they were disappointed about the litigation at a time when negotiations are moving forward. They vowed to fight allegations of wrongdoing. H3 Biomedicine marks the opening of its Kendall Square office
H3 Biomedicine Inc., a start-up focused on cancer treatments based on genetics, is officially unveiling its new 24,000-square-foot office in Cambridge today, another sign of growth at Kendall Square. H3 Biomedicine currently employs 30 staffers and it looks to add another 40 over the next 12 months. The company’s scientific founders include Stuart L. Schreiber and Todd R. Golub, both of the Broad Institute of Harvard and MIT. H3 Biomedicne has up to $200 million in research funding from Eisai Inc., a Japanese pharmaceutical company. TJX same-store sales rose 4% in Nov.
TJX Cos., the Framingham company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said today that November same-store sales rose 4 percent from sales in the same month a year ago. Much of what TJX stores sell is apparel, whose sales can be affected by the weather. Despite “unseasonably warm weather in November” that hampered demand for cold-weather apparel in the second half of the month, TJX said it is off to “a very good start for the holidays.” | 
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