Wednesday, March 7, 2012

Daily Business Update

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Daily Business Update


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Wed. Mar. 07, 2012

Fenway Park is listed in the National Register of Historic Places

Fenway Park, the home field of the Boston Red Sox, has been listed in the National Register of Historic Places, Massachusetts Secretary of State William F. Galvin said Wednesday. The listing means that Fenway Park has added protections, and any changes to the ballpark are subject to a special review. Fenway Park is celebrating its 100th anniversary this year. The National Register is the nation’s official listing of significant historic resources. More than 70,000 properties in Massachusetts are listed in the National Register, Galvin’s office said.

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Racepoint, Digital Influence to relocate to Boston

Racepoint Group and Digital Influence Group, two sister companies specializing in public relations and digital marketing, plan to relocate from Waltham to much larger space at 53 State St. in Boston, a 40-story office tower also known as Exchange Place, said Colliers International, the real estate broker that negotiated the firms’ new lease. Rcepoint and Digital Influence currently occupy offices at 404 Wyman St. in Waltham. In June, they plan to move into Boston office space previously occupied by Fidelity Investments.

Report: Research and innovation led the Massachusetts economic recovery

Research and innovation have led the Bay State’s economic recovery and remain strong, according to a new report from the John Adams Innovation Institute. The report, called the Index of the Massachusetts Innovation Economy, examined such metrics as patents, academic publications, and venture capital funding in reaching its conclusions. According to the index, Massachusetts outperforms nine other states on the technology front.

Air Force proposes cutting hundreds of Mass. jobs

Massachusetts stands to lose more than 300 jobs at US Air Force facilities under cuts announced by the Defense Department. The cuts announced Tuesday for the 2013 fiscal year that starts Oct. 1 include the loss of more than 150 jobs at Hanscom Air Force Base in Bedford, more than 100 of which are civilian jobs. Otis Air National Guard Base on Cape Cod is also in line to lose about 170 jobs.

Nuance to buy Transcend Services for $300m

Nuance Communications Inc., a Burlington company specializing in voice-recognition technology, has agreed to buy Transcend Services Inc. for $300 million as Nuance looks to become a bigger presence in the small- to mid-size hospital market. A publicly traded company based in Atlanta, Transcend provides medical transcription and speech editing services. Nuance said it “has agreed to acquire Transcend through a cash tender offer of $29.50 per Transcend share, representing an approximately 30 percent premium over Transcend’s 90-day volume weighted average share price.”

PJA is named ad agency of record by hardware store chain

PJA Advertising + Marketing, an ad agency with offices in Cambridge, said it has been named agency of record for a Kansas-based chain of hardware stores with 88 locations in such states as Kansas, Missouri, and Texas. The chain is Westlake Ace Hardware. Billings of the account were not disclosed. Westlake Ace Hardware’s ad business was previously split between two agencies --- Barkley Advertising in Kansas City and Bozell, headquartered in Omaha.

Foundation Medicine is collaborating with Array BioPharma

Foundation Medicine Inc., a cancer diagnostics company in Cambridge, has announced a collaboration with Array BioPharma Inc., a biopharmaceutical company based in Colorado. The molecular information generated by Foundation’s technology platform is designed to help biopharma companies expedite the development of targeted drug candidates that impact the genomic pathways driving a specific cancer. Array has a number of targeted cancer agents in the early stages of clinical development.

Boston City Councilor Felix Arroyo urges OneUnited not to foreclose on Charles Street AME church

Boston City Councilor Felix Arroyo wrote a letter this week to OneUnited Bank chairman Kevin Cohee, urging him not to foreclose on a $1.1 million loan to the historic Charles Street African Methodist Episcopal Church. Arroyo, in a letter dated March 5 and obtained by the Globe, said he was writing on behalf of his constituents and as a member of the Roxbury church. Arroyo said the bank should meet with church officials to negotiate a mutually beneficial agreement.

Gov. Deval Patrick signs bill increasing low-income heating assistance

The state will provide $21 million to increase fuel assistance for low-income residents, following the signing of a supplemental budget by Governor Deval Patrick. The state money, combined with the federal Low Income Heating Assistance Program, or LIHEAP, brings total funding for heating assistance to $153.6 million in this fiscal year. Separately, the administration said that is has asked the state’s gas and electric utilities to voluntarily extend the moratorium on service shut-offs for low-income families by a month to April 16

Court ruling allows for $450 million Fenway Center development to move forward

A court ruling has removed the last legal barrier standing in the way of the long-delayed Fenway Center development, a $500 million complex of apartments, stores, and offices over the Massachusetts Turnpike. A Massachusetts Land Court judge has dismissed a zoning challenge that has prevented the massive project from moving forward for more than a year. In its first phase, the project will include hundreds of apartments and stores on land between Beacon Street and Brookline Avenue near Fenway Park.

Hub is the world’s ‘most fertile environment’ for biotech innovation, Sanofi chief says

The chief executive of French drug maker Sanofi SA, which last year acquired Genzyme Corp. of Cambridge, said Tuesday that his company has established a presence in the Boston area because of its innovation ecosystem. Citing the area’s dense cluster of universities, hospitals, biotechnology start-ups, and venture capital firms, Christopher A. Viehbacher told Boston College’s Chief Executives’ Club of Boston that “I think the most fertile environment in the world today is right here in the Boston-Cambridge area.”

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