 | Fri. Dec. 23, 2011 Former Merrill Lynch broker awarded $650k
One of the former Merrill Lynch & Co. brokers blamed for selling nearly $14 million in high-risk securities to the City of Springfield received a measure of exoneration earlier this week when an arbitration committee awarded him $650,000 in damages for his firing from the financial advisory firm after the city’s investments went bad. Mercury Computer Systems of Chelmsford buying two companies for $70 million
Mercury Computer Systems Inc. of Chelmsford will pay $70 million to acquire a pair of companies that make electronic warfare and intelligence-gathering systems. Mercury is buying KOR Electronics Inc. of Cypress, Calif., which makes digital radio and radar test gear, as well as Paragon Dynamics of Aurora, Colo., which provides intelligence analysis and exploitation services. Mercury said it expects to complete the deals for both companies by the end of the year. Mass participates in $34 million GE settlement
A $34.25 million national settlement has been reached with a financial services company as part of a nationwide investigation of alleged anticompetitive and fraudulent conduct in the municipal bond derivatives industry, attorney general Martha Coakley’s office announced today. The settlement with GE Funding Capital Market Services, Inc. will provide a total of $30 million in restitution to affected state agencies and not-for-profits eligible in Massachusetts and the 24 participating states. Hampden Bancorp reports completion of 5% stock repurchase program
Hampden Bancorp, Inc., the holding company for Hampden Bank, announced the completion of the company’s fifth stock repurchase program. The program was approved by the company’s board of directors on November 1, 2011. Established in 1852, Hampden Bank is a full service community bank serving the families and businesses in and around Hampden County, Massachusetts. Boston Therapeutics elects Dr. Henry Esber to its board
Boston Therapeutics, Inc., a developer of diabetes therapeutics based in Manchester, New Hampshire, announced today the election of Dr. Henry J. Esber to its Board of Directors, effective December 20, 2011. Boston Therapeutics specializes in glyco-pathology, which is concerned with the importance of carbohydrates in biochemistry and progression of diseases. Westfield Financial announces stock repurchase program
Westfield Financial, Inc., the holding company for Westfield Bank, announced that its Board of Directors has authorized a stock repurchase program under which Westfield Financial may purchase up to 1,333,496 shares, or 5% of its outstanding common stock. The repurchase program will commence upon the completion of the previously announced repurchase program, which is expected to occur shortly, subject to market conditions. Baxter and Momenta announce collaboration
Baxter International Inc. and Momenta Pharmaceuticals, Inc. announced that they have entered into a global collaboration to develop and commercialize follow-on biologic products, also known as biosimilars. Biosimilars replicate existing, branded biologics used in the treatment of a variety of diseases including cancer, autoimmune disorders and other chronic conditions. Work on northern Maine rail making progress
A $10.5 million project to repair 233 miles of state-owned railroad line in northern Maine is progressing but there is still plenty of work to be done. About half of the 7,500 feet of rail replacement has been done, and 11,000 of the planned 50,000 ties have been replaced since August on the stretch of line between Millinocket and Madawaska. Mercury Computer Systems to acquire KOR Electronics and Paragon Dynamics
Mercury Computer Systems, Inc., a provider of subsystems for defense contractors headquartered in Chelmsford, today announced that it has signed a definitive agreement to acquire KOR Electronics, Inc. and its wholly owned subsidiary, Paragon Dynamics, Inc. KOR designs and develops digital radio frequency memory units for a variety of modern electronic warfare applications; Paragon Dynamics provides sophisticated analytic services and customized solutions for the intelligence community. The purchase price was $70 million. Aaron Gornstein named as undersecretary of Mass. Department of Housing and Community Development
Aaron Gornstein, long-time executive director of the Boston-based nonprofit Citizens’ Housing and Planning Association, was named the state’s new undersecretary of the Department of Housing and Community Development, it was announced today. Caffeine Inhaler Is a Dangerous ‘Club Drug,’ NY Senator Says
Breathable caffeine dispensed from canisters is a ‘club drug’ that may be dangerous to teenagers, a New York senator said. The inhaler is sold online by Cambridge, Massachusetts- based Breathable Foods Inc. and The Lab Store, in Paris. Democrat Charles Schumer wrote Food and Drug Administration Commissioner Margaret Hamburg today asking her to review the safety and legality of the AeroShot Pure Energy caffeine inhaler, which is set to hit store shelves in New York and Boston next month |
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