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Thu. Apr. 26, 2012 City Year taps Allen & Gerritsen as its ad agency Allen & Gerritsen has been chosen to be the ad agency of record for City Year, a Boston-based group that looks to lower the school dropout rate by recruiting a corps of young people who serve as mentors and tutors in after-school programs. This year, more than 2,000 City Year corps members are expected to serve in 189 schools around the country. Billings for the account are not being disclosed. Allen & Gerritsen has offices in Watertown.	Advertisement
TD Bank Chief Ed Clark outlines plans to add branches in US, Massachusetts TD Bank Group, already one of the biggest banks on the East Coast, plans to keep growing, the bank’s top executive said Thursday in Boston.
Liberty Mutual says profits up 26 percent for first quarter of 2012 Liberty Mutual Holding Co. of Boston reported today it earned $459 million for the first quarter, up 26 percent from the same period a year earlier.
Repligen says FDA may seek more data on pancreatic imaging drug Repligen Corp., a Waltham-based biotechnology company developing treatments for rare conditions, said it expects the US Food and Drug Administration to ask for more information about its pancreatic imaging treatment. The shares plunged the most in eight years. The FDA, which was scheduled to decide whether to approve the drug by June 21, canceled a May meeting of advisers to review the compound, RG1068, Repligen said in a statement
Dassault Systèmes agrees to buy Canadian firm for $360m in US dollars Dassault Systèmes, a French company with a big presence in Massachusetts, said Thursday that it has agreed to buy Gemcom Software International for $360 million in US dollars. Dassault Systèmes specializes in 3D design and product lifecycle management software. Based in Vancouver, Gemcom makes software for the mining industry. Last year, Dassault Systèmes consolidated much of its local operations at a campus in Waltham. The company employs about 900 people in Massachusetts.
Flor opens Hub store Flor Inc., a chain of stores specializing in modular floor-covering, is opening a 2,400-square foot store in Boston’s Back Bay neighborhood. Essentially, what Flor customers do is buy small squares of “carpet tiles” that can be assembled like a puzzle to create a customized floor design. For someone who wants to shrink his or her carbon footprint, a Flor floor is a more environmentally responsible option than buying typical carpeting, the company claims.
Raytheon raises forecast after quarter’s profit increases 17 percent Raytheon Co., the world’s largest missile maker, raised its full-year profit forecast after first- quarter net income increased 17 percent aided by improved performance at its missile and integrated-systems units. Profit from continuing operations will be $5 to $5.15 a share for the year compared with an earlier forecast of $4.90 to $5.05, the Waltham-based company said.
Foreclosure activity in Massachusetts rose sharply in March Foreclosure petitions, the first step in a property seizure, jumped nearly 55 percent in Massachusetts last month when compared to the same month a year ago, the Warren Group reported Thursday. Foreclosure deeds, which represent finished foreclosures, increased 36.5 percent. In early 2011, there was a lull in foreclosure activity prompted by nationwide scrutiny into lenders’ home-seizure practices. But in more recent months, many major lenders have accelerated their efforts to rid their books of long-delinquent mortgage loans.
Dunkin’ Donuts 1Q same-store sales rose 7.2% Dunkin’ Brands Group Inc., the Canton-based parent company of the Dunkin’ Donuts and Baskin-Robbins chains, said Thursday that same-store sales at its Dunkin’ Donuts stores in the United States rose 7.2 percent during the first quarter as customers gobbled up the chain’s sandwich offerings as well as its coffee and doughnuts. Same-store sales, or sales at stores open at least a year, are widely regarded as an important measure of a retail chain’s performance.
CEO Paul Sagan to leave Akamai Paul Sagan, the long-time CEO of Akamai Technologies Inc., the giant Internet infrastructure company based in Cambridge, will leave his post by the end of next year, according to a statement from the company Wednesday.
Citizens Bank to pay $137.5m to settle overdraft suit Citizens Bank customers hit with questionable overdraft fees could receive refunds under a settlement announced Wednesday in which the bank agreed to pay $137.5 million to settle charges it manipulated customers’ debit card and ATM transactions. The bank was accused of processing the transactions in a way that made overdrafts more likely, boosting the income it collected from customers forced to pay overdraft fees.
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