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Wed. Mar. 14, 2012 Georgia lottery players biggest suckers; Mass. players biggest winnersMassachusetts players were the biggest lottery winners, getting back almost 72 cents on the dollar, according to the data compiled by Bloomberg. Georgia’s lottery players are the biggest suckers in a nation buying more than $50 billion a year in tickets for state-run games, which have the worst odds of any form of legal gambling. | |||
Select Energy Services will use Oasys Water technologyOasys Water Inc., a Boston company with a technology to remove salt and other contaminants from dirty water, has landed its first customer --- Select Energy Services LLC, a Houston company that provides water services to the oil and natural gas industry. Financial details of the relationship were not disclosed. Select Energy Services plans to use Oasys Water technology at a natural gas facility in West Texas. According to Oasys, its method of treating water is more cost-effective than conventional options. | |||
Framingham Co-operative Bank and Natick Federal Savings Bank to mergeTwo small banks west of Boston are merging. Framingham Co-operative Bank and Natick Federal Savings Bank said Wednesday they plan to combine their operations in the third quarter under a new name “that builds upon the strengths” of both institutions. The combined bank will have three full-service branches, two in Framingham and one in Natick. | |||
UMass Memorial Health Care CEO John O’Brien to retireJohn G. O’Brien, 61, chief executive of UMass Memorial Health Care, said Wednesday that he will retire next January. In a written statement, O’Brien said, “I am proud of all that we have accomplished over the last decade, and I have tremendous confidence in the entire UMass Memorial organization as we move forward to the next stage in this new era for health care providers, patients and payers.’’ | |||
New Eastern Bank checking account targets consumers who hate ATM feesEastern Bank said Wednesday that it is launching a new checking account that is designed to help customers more easily avoid ATM fees. The new account is called Eastern eZ Checking, said Eastern Bank, a Boston-based bank with $7.6 billion in assets. Eastern eZ Checking offers free access to more than 100 Eastern Bank ATMs and more than 5,000 SUM ATMs. Additionally, Eastern Bank will not charge eZ Checking customers to use another bank’s ATM. | |||
Tobias Reiss-Schmidt will be Rockport’s new chief executiveRockport Co., a Canton footwear brand, announced the promotion of Tobias Reiss-Schmidt to the posts of president and chief executive following the departure of current CEO Michael Rupp. Rupp plans to resign June 30 to take a position outside of Rockport, the company said. Reiss-Schmidt’s promotion is effective July 1. Rockport is a wholly owned subsidiary of the Adidas Group, a large company known for its athletic footwear and apparel. | |||
Altman Vilandrie is relocating to 225 Franklin St. in BostonBoston consulting firm Altman Vilandrie & Co. will relocate its corporate headquarters to larger space in May, said a broker involved in the real estate transaction. The broker is the Boston office of Colliers International, which represented Altman Vilandrie in the transaction. Altman Vilandrie will relocate from 53 State St. to 225 Franklin St. in Boston. The firm’s new space is 10,000-square-feet larger than its current offices, said Colliers International, a large commercial real estate services company. | |||
Kala Pharmaceuticals secures $6.2m in additional equity financingKala Pharmaceuticals Inc., a Waltham-based developer of treatments for such diseases as cystic fibrosis, announced Wednesday that it raised $6.2 million in additional equity financing. The money comes from existing venture investors Lux Capital, Polaris Venture Partners, Third Rock Ventures, and Lighthouse Capital Partners. This new investment completes Kala’s seed financing, which totaled $11.2 million. Kala added that it has also been awarded two grants from separate divisions of the National Institutes of Health. | |||
Cam Neely’s foundation is pledging $1.5m to Tufts Medical Center endoscopy suiteThe Cam Neely Foundation for Cancer Care is pledging $1.5 million towards the renovation and expansion of an endoscopy suite at Tufts Medical Center. The suite will be known as the Marlene Neely Endoscopy Suite in honor of the former hockey star’s mother, Marlene, who died of colon cancer in 1987. Renovations to the existing endoscopy suite will begin in late 2012. The clinic will continue offering a number of endoscopic procedures including colonoscopies, panendoscopies, and endoscopic retrograde cholangiopancreatography. | |||
Bain Capital in annual letter to investors backs Romney job creation claimsBain Capital in its annual letter to investors addressed questions that have come up over the past year related to founder Mitt Romney’s campaign for the presidency. Bain said that the firm has helped created hundreds of thousands of jobs, backing up some of Romney’s claims on the campaign trail. The private-equity firm also said that less than five percent of the companies in its portfolio have gone bankrupt. Romney has positioned himself as a candidate who can fix the US economy and create jobs. | |||
Direct Air, serving Worcester, cancels all flights through May 15Direct Air, the public charter airline that offers the only scheduled service out of Worcester Regional Airport, has cancelled all its flights through May 15, leaving the beleaguered airport without commercial flights for the third time in nine years. | |||
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Wednesday, March 14, 2012
Daily Business Update
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