Wednesday, December 14, 2011

Daily Business Update from the Boston Globe

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Wed. Dec. 14, 2011

Pinnacle Awards honor local women leaders
The Greater Boston Chamber of Commerce today announced the winners of its 2012 Pinnacle Awards, which honor women for workplace achievement, leadership, and a commitment to enhance the quality of life in the region. Rosabeth Moss Kanter, a professor at Harvard Business School, will receive a lifetime achievement award. Others being honored include chief executive Suzanne Bates of Bates Communications Inc.; Marcy L. Reed, president of National Grid’s Massachusetts operations; US District Attorney Carmen M. Ortiz; and Mary Jo Meisner, a Boston Foundation vice president.

Kayak.com to stop advertising on TLCs “All-American Muslim”
Travel website Kayak.com will no longer advertise on the TV show “All-American Muslim,’’ a TLC cable channel reality series that follows the lives of Muslim families in the Detroit area.

Mass. consumer office offers stress-reducing tips for holiday shopping
The Massachusetts Office of Consumer Affairs and Business Regulation today released a list of survival tips for consumers now enduring the holiday shopping season. Some tips may seem obvious --- but bear repeating at this time of the year. Among the tips: Set a budget and stick to it, comparison-shop, bring sales circulars with you on shopping trips and save receipts, don’t rely heavily on credit cards, and ask about refund policies before making a purchase.

AAA: Holiday travel should edge up 1.4%
AAA projects that 91.9 million Americans will travel 50 miles or more from home during the 2011-12 year-end holiday travel season, a 1.4 percent increase from the same period last year. Travel from the New England region is expected to increase 1.7 percent over last year. Regionally, automobile travel is expected to increase 2.9 percent while air travel is projected to decline by 11.2 percent. Higher ticket prices and fewer seats are impacting air travel nationwide.

Genzyme CEO: Company’s new French parent remains committed to Mass.
Eight months after being acquired by French drug maker Sanofi SA in a $20.1 billion deal, Genzyme Corp. remains committed to growing over time in Massachusetts, its new chief executive said this morning. “We’re hiring aggressively now in our manufacturing and quality areas,” David Meeker told more than 100 business leaders at an innovation forum breakfast sponsored by the Greater Boston Chamber of Commere. “Sanofi is committed to building out research and development here in Massachusetts.”

Zipcar ups stake in Spanish car-sharing service
Zipcar Inc., the Cambridge-based car-sharing service, has exercised its option to buy a majority ownership interest in Catalunya Carsharing SA, known as Avancar. Avancar operates a fleet of vehicles in the Spanish cities of Barcelona and Sant Cugat del Valles. The transaction is expected to be completed in early 2012 and builds on Zipcar’s initial equity investment in Avancar in December 2009. With this transaction, Zipcar increases its percentage ownership in Avancar to a controlling stake of 60 percent.

McDonald’s enlists CampusLIVE to help promote coffee, Peppermint Mocha
CampusLive, a Boston marketing agency focused on college students, has been enlisted by McDonald’s Corp. to build awareness around such initiatives as the fast-food chain’s promotion of $1 coffee. Looking to highlight McDonald’s $1 Any Size Coffee promotion, CampusLIVE is challenging consumers to go to the McDonald’s closest to campus, purchase a coffee, take a picture with their best “McSmile,” and submit said photo to CampusLIVE.com. The top voted picture wins a trip for two to Miami.

Charles River Laboratories provides 2012 guidance
Charles River Laboratories International Inc., a Wilmington drug research and services firm, is projecting sales and profit gains for 2012. Looking to gain efficiencies, the company’s biopharmaceutical clients are inclined to outsource more research, and that is an opportunity for Charles River Laboratories. As a result, the company said it expects sales growth to strengthen in a range of 1 percent to 3 percent on a constant currency basis; non-GAAP earnings per share are projected to increase between 7 percent and 11 percent.

Google to give $6m to local groups as part of effort to help education and tech nonprofits
Google Inc. announced today that it will give $6 million to three Boston area groups as part of its effort to support education and technology nonprofits. The grants will go to Citizen Schools, the Concord Consortium, and the Harvard School of Public Health. Google said it singled out Citizen Schools, a Boston group that connects volunteers with area middle school students, for its work in exposing students to science, technology, engineering, and math education and for expanding the “horizons of underprivileged youngsters.”

Thomas H. Lee said to be in lead for Glaxo consumer assets
Thomas H. Lee Partners LP, a Boston-based private equity firm, is in the lead to buy consumer-health assets from GlaxoSmithKline Plc and may announce a deal as soon as this week, said two people with knowledge of the matter. THL is close to entering exclusive talks with Glaxo, said the people, who declined to be identified as the matter is private. The companies have yet to agree on price and may not reach a deal, the people said.

Hydroid AUV discovers underwater helicopter wreckage off Norwegian island
Hydroid Inc., a Bourne-based manufacturer of autonomous underwater vehicles, or AUVs, said that one of its AUVs has discovered the wreckage from a 2003 helicopter crash in icy waters near Svalbard, a group of Norwegian islands in the Arctic Ocean. The helicopter’s crew escaped alive, but the wreck had not been seen since it sank, said Hydroid, a subsidiary of Norway-based Kongsberg Maritime and the maker of REMUS AUVs.

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