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Wed. May. 02, 2012 Secretary of State William Galvin: RBC Capital Markets agrees to repay Mass. investors up to $2.9m RBC Capital Markets has agreed to repay Massachusetts investors up to $2.9 million, plus a $250,000 fine, in a settlement with Secretary of State William F. Galvin. New York-based RBC, a unit of the Royal Bank of Canada, allegedly sold commonwealth investors a complex type of exchange-traded funds that used leverage and “inverse leverage.” These instruments look to provide returns that are linked to the daily performance of certain market indexes.	Advertisement
CVS Caremark 1Q profit jumps 9 percent CVS Caremark Corp. gained millions of new prescriptions in the first quarter due to a contract impasse between two rivals, and now the drugstore chain wants to keep the growth going by ensuring that those customers stick around and use the rest of its store. The Woonsocket, R.I., company said Wednesday its first-quarter earnings climbed 9 percent, and it raised its profit forecast for 2012 because the end of a contract between Walgreen Co. and Express Scripts Inc. prompted Walgreen customers to migrate to CVS stores.
Minuteman Senior Services is relocating to Crosby Corporate Center in Bedford Minuteman Senior Services will relocate its corporate headquarters from Burlington to the Crosby Corporate Center office park in Bedford this summer, said a real estate broker involved in the lease transaction. The broker is the Boston office of Colliers International, which represented Minuteman during lease negotiations. Minuteman is a nonprofit organization that helps seniors, disabled adults, and families find solutions for long-term care. The landlord of Crosby Corporate Center is RREEF Real Estate.
Arnold wins ad business of American Eagle Outfitters Arnold Worldwide said it has been selected to be the global global agency of record for American Eagle Outfitters Inc., which sells clothing to young consumers under such brand names as American Eagle Outfitters, Aerie, and 77kids. Arnold said the account will be managed out of its Boston headquarters. MediaCom will handle media planning and buying for the ads that Arnold creates for American Eagle. Arnold’s press release did not disclose billings for the account.
Lemelson-MIT prize goes to Ashok Gadgil The Lemelson-MIT Program said Wednesday that Ashok Gadgil is the recipient of its $100,000 Award for Global Innovation. Gadgil is honored for his “steady pursuit to blend research, invention, and humanitarianism for broad social impact,” the program said. Gadgil is a chair professor of Safe Water and Sanitation at the University of California, Berkeley, and director of the Environmental Energy Technologies Division at Lawrence Berkeley National Laboratory.
Three leases signed for Riverworks in Watertown The Massachusetts and New Hampshire Chapter of the Alzheimer’s Association, Sabre Hospitality Solutions, and Education Resource Strategies have signed separate long-term leases that will have them collectively occupying nearly 41,000 square feet of space at Riverworks, a recently renovated office complex in Watertown. The announcement was made by Farley White Interests, the Riverworks landlord, and Jones Lang LaSalle, the broker representing Farley White in the leasing transactions.
TripAdvisor surges as 1Q sales, profit top estimates TripAdvisor Inc., the online travel- recommendation service spun off from Expedia Inc., surged in extended trading after reporting first-quarter sales and profit that exceeded some analysts’ estimates. First-quarter profit excluding certain items was 38 cents a share, the Newton-based company said in a statement. That compared with an average analyst projection of 34 cents, according to data compiled by Bloomberg. Revenue rose to $183.7 million, topping the $174.4 million average estimate.
Baskin-Robbins launches ‘Men In Black 3’ ice cream promo Baskin-Robbins, the sister chain of Dunkin’ Donuts, is unveiling some new menu choices as part of a promotion with “Men In Black 3,” a Sony Pictures movie that is set to arrive in theaters later this month. Baskin-Robbins focuses on ice cream. And summer, of course, is ice cream’s season. So it makes sense to kick off this year’s ice cream season with a tie-in to a movie that has promise of being a summer blockbuster, Canton-based Baskin-Robbins suggested in a press release.
Jessica Alba arrives in Boston to plug Honest.com, her eco-friendly baby products start-up Actress Jessica Alba joined the local technology set Tuesday to plug her e-commerce start-up, The Honest Co., which sells ecofriendly baby products. Alba was the keynote speaker at the annual meeting of General Catalyst Partners, a Cambridge venture capital firm that in March led a $27 million round of funding for her company. Alba joined hundreds other entrepreneurs and investors for the gathering at The Charles Hotel in Harvard Square.
OneUnited Bank argues that First Episcopal Church, not Charles Street AME, responsible for debt Lawyers for OneUnited Bank argued in bankruptcy court Tuesday that the Charles Street African Methodist Episcopal Church, the bank’s client, is not the ultimate debtor in the case, and that the First Episcopal District organization is responsible for the church’s debts. Judge Frank Bailey, presiding at the hearing, implied that the bank ought to have known the church’s relationship to its guarantor, saying “I assume in due diligence the bank became aware of this structure.”
Wolverine, Golden Gate, Blum agree to buy company whose brands include Keds, Sperry Top-Sider Wolverine World Wide Inc., Golden Gate Capital, and Blum Capital Partners agreed to buy Collective Brands Inc. and split up the company’s businesses in a transaction valued at about $2 billion including debt. Collective’s portfolio includes brands with local ties such as Sperry Top-Sider, Saucony, Stride Rite, and Keds.
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