Friday, February 3, 2012

Daily Business Update

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Daily Business Update


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Fri. Feb. 03, 2012

Can’t get enough Super Bowl action? Comcast offers on-demand videos of past big games

Locals who are both Patriots fans and subscribers of Comcast’s Xfinity TV service can now surfeit themselves on the team’s past Super Bowl glories, thanks to a temporary feature incorporated into Comcast’s on-demand viewing option, the company said. The Super Bowl feature is titled “America’s Game.” By choosing “America’s Game” from Xfinity’s on-demand menu, subscribers can choose to see 45-minute documentaries on every Super Bowl game, with each video including 30 minutes of game footage.

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Proposed Downtown Crossing tower could be up to 600 feet high

The development firm taking control of the former Filene’s property in downtown Boston said it will build a tower up to 600 feet high, rivaling the tallest buildings in the city’s Financial District. Speaking at a press conference today, principals of Millennium Partners said the tower will cost about $500 million and include a mix of uses, from offices to residences to new shops and restaurants along the street.

Washington Trust provides $20m to finance Tewksbury office park

Washington Trust said its Commercial Real Estate Group recently provided $20,000,000 for the refinancing of the Highwood Office Park in Tewksbury. With 278,000 square feet of space, the property is a three building office center with multiple tenants. The financing was provided to Highwood Investors, LLC, an affiliate of BPG Properties Ltd. BPG Properties is a private equity real estate fund manager.

Survey: Boston is the 8th most expensive city for watching the Super Bowl on TV

A survey of average monthly TV bills finds that Boston is the eighth most expensive city for watching the Super Bowl. The survey is from a Texas firm called WhiteFence.com, which cites its mission as helping households compare prices and save money on phone, Internet, television, electricity, natural gas, and other home services. Dallas is the most expensive cities for watching the Big Game, and Denver is one of the cheapest, the survey found.

Boston hotel occupancy, rates continued to climb in 2011

oston-area hotels continued their recovery last year, with occupancy, daily room rates, and overall revenues per available room all rising, according to reports by the hotel consultancies Pinnacle Advisory Group and PKF Consulting USA.

Filene’s site has new developer

Developer Millennium Partners will take control of the long-idle Filene’s property in Downtown Crossing and build a tower on the site with retail stores, office space and hundreds of residences, city officials said tonight

New developer to take control of former Filene’s site

Developer Millennium Partners will take control of the long-idle Filene’s property in Downtown Crossing and build a tower on the site with retail stores, office space and hundreds of residences, city officials said tonight.

SEC: Court enters judgment in stock options case against former Brooks Automation CEO

The US District Court in Boston entered a final judgment by consent against former Brooks Automation chief executive Robert J. Therrien, in a case alleging that he falsified records in order to enrich himself with stock options, the Securities and Exchange Commission said. Without admitting or denying the allegations in a 2007 complaint, Therrien agreed to pay $728,269 – the profits from his options deal – and a civil penalty of $100,000. Therrien also is barred from serving as an officer or director of a public company.

Morton’s The Steakhouse closes Back Bay location

Morton’s The Steakhouse shuttered its upscale Back Bay location yesterday on the same day a new owner took over the company. Tilman J. Fertitta, owner of Landry’s Inc., yesterday completed the acquisition of Morton’s Restaurant Group Inc., for about $116.6 million, and closed restaurants in other cities, including ones in Phoenix, Miami Beach, Jacksonville, Atlanta, Brooklyn, and Tysons Corner, Va., according to an employee at the Back Bay location who declined to provide her name.

Jordan’s Furniture is bringing back its Double Play Youth Baseball Program

Jordan’s Furniture, the local furniture store chain, said it is again gearing up its Double Play Youth Baseball Program, which aims to supply “gently-used” baseball and softball equipment to inner-city youth. In partnership with the Red Sox Foundation’s “Reviving Baseball to Inner Cities,” the program seeks to distribute gear to more than 2,000 young ball players, Jordan’s said. The program starts this week and runs through April 1.

New Balance proposes new HQ in Boston’s Brighton neighborhood

New Balance is proposing to build a new world headquarters in Brighton that will include new offices, a track and field facility, a hockey rink, and a boutique hotel. The developer of the complex, New Brighton Landing LLC, outlined its plans for a “health and wellness district” in a filing released by the City of Boston today. If approved, the complex will be constructed on a 14-acre tract near New Balance’s existing offices on Guest Street. New Balance markets athletic footwear and apparel.

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