Friday, December 30, 2011

Daily Business Update

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Fri. Dec. 30, 2011

Vermont company uses coffee to brew energy
Wynntryst, LLC, an energy solutions company based in South Burlington, Vermont, is working with the Energy & Environmental Research Center at the University of North Dakota to develop a gasification power system that utilizes the waste from a coffee-processing plant to produce energy. The project specifically focuses on the waste from the Green Mountain Coffee Roasters, Inc. plant, a Wynntryst client based in Waterbury, Vermont best known for its Keurig brand of individual coffee cups.

Dynasil Corporation of America reports fiscal year 2011 results
Dynasil Corporation of America, a developer of sensing, detection and analysis technology for homeland security, medical, and industrial applications, today reported financial results for fiscal year ended September 30, 2011. Revenue for fiscal 2011 increased to $47.0 million compared with $43.0 million in fiscal 2010.

Mansfield uses online service to sell surplus
The town of Mansfield, Mass. recently sold 75 surplus items for $160,000 using municibid, an online government auctions platform used by over 50 cities and towns in Massachusetts and 600 government agencies nationwide. Items sold included heavy equipment, vehicles, snow plows, a screening plant, bicycles, tools, and electric vehicles.

Workers at Berkshires resort get settlement
About 700 current and former workers at a Berkshires resort have received their share of a $7 million settlement with management. Checks for thousands of dollars arrived in the mail this week for food-service and spa employees of the Cranwell Resort, Spa and Golf Club in Lenox which was accused in a class-action lawsuit of withholding tips.

Boston Therapeutics gets first sales of Sugardown in Italy
Boston Therapeutics, Inc., a developer of diabetes therapeutics based in Manchester, NH, announced today that it has secured its first purchase order for distribution of the dietary supplement Sugardown in Italy. Sugardown is a complex carbohydrate-based chewable tablet to moderate post-meal blood glucose for those concerned about their blood glucose levels.

Mohegan discloses ‘going concern’ risk as it works to refinance
Mohegan Tribal Gaming Authority, the operator of Mohegan Sun casinos in Connecticut and Pennsylvania, said it has yet to reach an agreement to refinance $811 million in debt, raising the risk of being unable to continue operating. Mohegan said it received a default waiver from its bank lenders yesterday.

Blue Cross-Blue Shield seeks RI rate increase
Blue Cross and Blue Shield of Rhode Island is asking state officials to raise premiums for customers who purchase health coverage directly from the insurer. The office of the state health insurance commissioner announced the 4.4 percent rate increase request Thursday. It would cover plans covering individuals and families who are not eligible for health insurance with employers or government programs.

No Mass. store closings on Sears list
No Massachusetts stores are on a store closing list released today by Sears Holdings Co., which controls the Sears and KMart chains. However the list that was posted today represented just “79 of the 100 to 120 store closings” that the company said it was planning to close earlier this week. Forty one of the stores slated to close are Sears; 38 are KMarts. Sears said it would post additional closings “as they become available.”

L.L. Bean boot gets a kick from retro trend
A nearly century-old hunting boot is catching on with a younger generation that sees the utilitarian footwear as hip. L.L Bean’s familiar duck boot with leather uppers and rubber soles — designed for slogging through mud and snow — has become something of fashion statement owing to its newfound popularity on college campuses, the company says. Another reason is new styles, including something Leon Leonwood Bean surely never envisioned in 1912: bright blue and pink leather, new for spring.

Mass. corporate tax makes final drop to 8 percent on Jan. 1
The corporate income tax rate will drop from 8.25 percent to 8 percent on Jan. 1 as a result of corporate tax reform Governor Deval Patrick signed into law in 2008.

Filene’s fans bid final farewells
Manon Marchard took a bus from Montreal to Boston for one last Filene’s Basement shopping spree. A faithful Filene’s customer for 30 years, the counselor couldn’t resist finding some good bargains this morning at the store’s Boylston Street location. Loyal, nostalgic and sad shoppers were making final visits to area Filene’s Basement stores, which is closing for good tonight. The legendary retailer, which filed for bankruptcy protection in November, is holding liquidation sales.

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