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Thu. May. 31, 2012 Dunkin’ gears up for National Donut DayIn the culinary calendar, few moveable feasts are more high and holy than National Donut Day, and to celebrate, Dunkin’ Donuts said that participating restaurants nationwide will offer customers a free donut of their choice with the purchase of any beverage. National Donut Day is celebrated on the first Friday of June each year, Canton-based Dunkin’ noted. And that means that Dunkin’s National Donut Day special offer is scheduled for tomorrow --- at least for as long as supplies last. | |||
Moderate growth, then slowdown, projected for Mass., New England economyMassachusetts’ economy, which has weathered the recession and its aftermath better than the nation, will continue to grow, but at a slow to moderate pace through 2016, according to a new forecast by the New England Economic Partnership. Employment will expand moderately over the next few years, but slow in 2016 as retiring baby boomers leave the labor force, according to the forecast. Massachusetts is projected to add 30,000 to 40,000 jobs a year in 2012 and 2013. | |||
Fidelity urges restraint in money market reformFidelity Investments, in comment letters to US and international regulators this week, urged any international reforms of money market funds to be “carefully considered” to avoid “imposing harmful, unintended consequences on financial markets or on the global economy.” The largest US manager of money market mutual funds, Boston-based Fidelity urged the International Organization of Securities Commissions to follow the US model of money market regulations and said the system has been working since the financial crisis. | |||
Kamik taps Allen & Gerritsen as ad agency of recordAllen & Gerritsen said it has been selected the advertising and public relations agency of record for Kamik, a Canadian footwear and clothing brand. Billings are not being disclosed, Watertown-based Allen & Gerritsen said. Marketing efforts will emphasize Kamik’s long history. For more than 100 years, Kamik has created shoes and boots that are weather-resistant as well as stylish, Allen & Gerritsen said. | |||
A123 Systems falls on expected ‘significant’ lossA123 Systems Inc., a US maker of lithium-ion batteries for electric cars, fell the most in more than three months after saying it expects “significant” losses and is pursuing options to raise cash. A123, based in Waltham, fell 19 percent to 93 cents at 10:09 a.m. in New York. Earlier it fell as much as 22 percent, the most intraday since Feb. 9. The company is replacing defective battery modules and packs at a cost of $51.6 million and taking an inventory charge of $15.2 million. | |||
EMC buys Montreal-based Watch4Net SolutionsEMC Corp., one of the world’s largest makers of data-storage computers, said Thursday that it had agreed to buy performance management software company Watch4Net Solutions Inc. Hopkinton-based EMC did not disclose the specific terms of the all-cash deal, which is not expected to significantly affect EMC’s fiscal 2012 earnings. Montreal-based Watch4net, which has partnered with EMC for the past seven years, makes software that provides real-time, historical, and projected visibility into network, data center, and cloud infrastructure performance. | |||
TJX: May same-store sales rose 8 percentTJX Cos., the Framingham company that operates such off-price retail chains as T.J. Maxx, Marshalls, and HomeGoods, said Thursday that its same-store sales rose 8 percent in May when compared to sales in the same month a year ago. Same-store sales are sales at stores open at least a year, and many retail analysts believe they are an important measure of a retailer’s performance. | |||
Talbots to be acquired by Sycamore PartnersTalbots Inc., a clothing brand known for classically styled apparel for middle-age women, has agreed to be acquired by an affiliate of the private equity firm Sycamore Partners. Under the agreement, Sycamore Partners plans to will acquire all the outstanding common stock of Talbots for $2.75 per share in cash. A previous offer from Sycamore Partners had called for $3.05 a share. Including debt, the current transaction is valued at about $369 million. | |||
RXi Pharmaceuticals gets FDA clearance to start clinical trial for a drug candidate designed to reduce scarringRXi Pharmaceuticals Corp., the Worcester biotechnology company that looks to build on the research of scientific founder and Nobel Laureate Craig Mello, said Thursday that it has received clearance for its investigational new drug application from the Food and Drug Administration. The company is gearing up to initiate clinical trials for a drug candidate designated as RXI-109. The hope is that the compound has the the potential to reduce dermal scarring in planned surgeries. | |||
Bain Capital to buy Consolidated ContainerConsolidated Container Co. said it will be acquired by affiliates of Bain Capital Partners LLC, a private investment firm headquartered in Boston. Terms of the transaction are not being disclosed. Based in Atlanta, Consolidated Container develops and manufactures rigid plastic packaging for customers in the dairy, water, beverage, food, household chemical, automotive, and industrial chemical markets. | |||
WGBH, union reach contract agreementWGBH in Boston said Wednesday it has reached agreement with its largest union on a contract identical to one that managers imposed last year, after declaring that years-long negotiations had come to a standstill. | |||
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Thursday, May 31, 2012
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Wed. May. 30, 2012 Verizon boosts available FiOS broadband speedsVerizon Communications Inc.’s FiOS Internet service is set to get even faster. The company said Wednesday that it will double the top speed available to subscribers to its premium FiOS broadband service, due to growing demand for video content over the Web. | |||
Boston’s Mintz Levin Financial Advisors being acquired by Focus Financial PartnersMintz Levin Financial Advisors, the investment management arm of the Boston law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, has agreed to be acquired by Focus Financial Partners of New York, the firms said Wednesday. Terms of the deal were not disclosed. Mintz Levin Financial manages more than $1 billion for wealthy families and individuals. Under the deal, the group will become part of Focus’s Boston operation, called the Colony Group. Together, Mintz and Colony will have $2.5 billion in assets. | |||
Boston Foundation launches nonprofit information websiteA web-based service launched on Wednesday is designed to help potential donors navigate the world of charitable organizations in the Massachusetts, to inform decisions about where and how to make contributions. | |||
Veracode moving to Northwest ParkThe software security firm Veracode Inc. is the latest company to sign a deal to move into the office campus at Northwest Park in Burlington. | |||
Chief investment officer for Massachusetts state pension fund is stepping down next monthThe long-time chief investment officer for the $50 billion Massachusetts state pension fund, Stanley P. Mavromates Jr., is leaving for a private sector job, officials confirmed Wednesday. | |||
Harvard’s Jeremy C. Stein sworn in to Fed boardHarvard University economist Jeremy C. Stein, an advocate for tougher financial reform, was sworn in as a member of the Board of Governors of the Federal Reserve System Wednesday in Washington. The oath of office was administered by Chairman Ben S. Bernanke. | |||
China’s high court accepts appeal by Devens firm AMSC in intellectual property caseChina’s Supreme People’s Court has accepted an appeal filed by AMSC, a Devens-based maker of wind turbine control systems that is suing a Beijing company over allegations that it stole the Massachusetts firms intellectual property. AMSC is pursuing four suits in China against Sinovel Wind Group Co., China’s largest wind turbine maker and once AMSC’s largest customer. | |||
MassChallenge reveals 125 start-up finalistsAfter their family home in Monson was hit by the tornadoes last June, Caitria O’Neill and her sister Morgan decided to launch Recovers.org, a website platform for towns needing to rebuild after disasters. | |||
RI gov: Schilling's wrong to blame woes on stateCurt Schilling is blaming Rhode Island economic development officials and the governor for much of the financial troubles facing his video game company. | |||
New prosthetics policy could affect Boston ScientificThe US Department of Veterans Affairs is planning to rein in rising prosthetic costs by shifting responsibility for ordering some prosthetics, including artificial limbs, from medical personnel to contracting staff. It’s also requiring more documentation on the spending. The changes are designed to reduce prosthetic costs, which have jumped 80 percent in the past four years, according to the VA inspector general. | |||
Former House speaker Tom Finneran leaving his morning talk show at WRKOTom Finneran, the disgraced former Massachusetts House speaker who was hired by WRKO-AM as a morning talk show host is leaving the radio station after five years, he and station officials said Tuesday. In 2007, Finneran pleaded guilty to lying under oath during a racially-charged voter redistricting case, forcing him to leave the Legislature. Finneran’s parting with WKRO appears to be amicable, with his last day schedule for Thursday. His co-host, Todd Feinburg, will continue to host the program solo. | |||
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Tuesday, May 29, 2012
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Tue. May. 29, 2012 New prosthetics policy could affect Boston ScientificThe US Department of Veterans Affairs is planning to rein in rising prosthetic costs by shifting responsibility for ordering some prosthetics, including artificial limbs, from medical personnel to contracting staff. It’s also requiring more documentation on the spending. The changes are designed to reduce prosthetic costs, which have jumped 80 percent in the past four years, according to the VA inspector general. | |||
Former House speaker Tom Finneran leaving his morning talk show at WRKOTom Finneran, the disgraced former Massachusetts House speaker who was hired by WRKO-AM as a morning talk show host is leaving the radio station after five years, he and station officials said Tuesday. In 2007, Finneran pleaded guilty to lying under oath during a racially-charged voter redistricting case, forcing him to leave the Legislature. Finneran’s parting with WKRO appears to be amicable, with his last day schedule for Thursday. His co-host, Todd Feinburg, will continue to host the program solo. | |||
Massachusetts pension board opposes re-election of Walmart directors, citing Mexico scandalThe board of the Massachusetts state pension fund, which has $60 million invested in Walmart Stores Inc. stock, voted against the re-election of seven corporate directors at the giant retailer. State officials said some of the directors, “were deemed too closely associated” with an alleged bribery scandal involving the permitting of Walmart stores in Mexico. The $50 billion Massachusetts pension fund has sometime taken such activist positions under Treasurer Steven Grossman, who is its chairman. | |||
Thomas H. Lee Partners buys Fogo de ChaoBoston-based private equity firm Thomas H. Lee Partners LP is buying steakhouse operator Fogo de Chao Churrascaria LLC from GP Investments for an undisclosed sum. Privately held Fogo, founded in 1979 in Southern Brazil and now based in Dallas, has 18 restaurants in the U.S. and seven in Brazil. | |||
Foreclosure activity in Massachusetts soared in April, according to Warren Group reportMassachusetts foreclosure activity increased in April as lenders moved to deal with delinquent loans, according to a report released Tuesday by the Warren Group, a Boston company that tracks local real estate. The number of petitions, the first step in the foreclosure process, rose to 1,750, a 47 percent increase from last April, and the highest level in nearly two years, the Warren Group said. The number of finalized foreclosures jumped to 714 in April, 19 percent more than in April 2011. | |||
Mass. gas prices down 4 cents per gallonGas prices are down in Massachusetts for the sixth consecutive week. AAA Southern New England reports Tuesday that the cost of a gallon of self-serve, regular dropped four cents in the past week to an average of $3.61. | |||
RI jobless rate highest in New EnglandRhode Island’s unemployment rate for April remains the highest in New England and significantly above the regional average. The New England office of the U.S. Bureau of Labor Statistics says the regional rate was 6.9 percent in April, compared to 11.2 percent for Rhode Island. The national average in April was 8.1 percent. | |||
Vertex shares plunge as company concedes data it released earlier this month on a promising cystic fibrosis drug combination was in errorShares of Vertex Pharmaceuticals Inc. plunged more than 18 percent in the first hour of trading Tuesday after the company acknowledged interim clinical trial data it released earlier this month for an experimental drug combination treating cystic fibrosis was in error. In a statement correcting its earlier report on an ongoing midterm study, Cambridge-based Vertex said the interim data -- which sent Vertex’s stock up more than 55 percent on May 7 -- showed relative improvements in breathing for patients taking the drug in a clinical trial, not absolute improvements as the company previously reported. | |||
Schilling says RI played role in company’s troubleCurt Schilling is blaming Rhode Island economic development officials and the governor for much of the financial troubles facing his video game company. | |||
Harvard releases 2010 pay for endowment chief, presidentHarvard University’s endowment chief, Jane Mendillo, earned $3.5 million in 2010, down from $4.8 million in total compensation in 2009, according to Harvard, which released its latest tax filing Friday. The highest paid manager of the endowment in 2010 was Andy Wiltshire, who earned $5.5 million, Harvard said, for overseeing the outside firms that manage money for the nation’s largest endowment. Harvard’s top investment managers are highly compensated, routinely earning more than anyone else at the university if they beat their investment goals. | |||
Network Health expanding its health insurance coverage to residents in Western MassachusettsMedford health insurer Network Health LLC, which provides coverage for more than 200,000 low- and moderate-income state residents, will be expanding its coverage into Western Massachusetts under the Medicaid managed care plan MassHealth. | |||
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Monday, May 28, 2012
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Sunday, May 27, 2012
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Saturday, May 26, 2012
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