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Fri. May. 11, 2012 Boston nonprofit launches TV show to boost STEM education Science from Scientists, a 10-year-old Boston education nonprofit, has received $650,000 from iRobot Corp., Google Inc., and Comcast Corp., and is launching a television program on Friday mean to boost science and math education in the state.	Advertisement
Barney Frank: JPMorgan Chase’s $2b loss demonstrates need for tighter regulations US Representative Barney Frank said Friday that JPMorgan Chase’s disclosure that it lost $2 billion from a flawed hedging strategy underscores the need for tighter federal regulation. Such regulations are part of what is commonly known as the Dodd-Frank law. JPMorgan Chase has criticized those regulations. “The argument that financial institutions do not need the new rules to help them avoid the irresponsible actions that led to the crisis of 2008 is at least $2 billion harder to make today,” Frank said.
Facebook cofounder Saverin renounces US citizenship ahead of IPO Eduardo Saverin, the billionaire cofounder of Facebook Inc., renounced his US citizenship before an initial public offering that values the social network at up to $96 billion, a move that may reduce his taxes.
Houghton Mifflin lenders agree to eliminate $3.1 billion of debt Houghton Mifflin Harcourt Publishing Co., the publisher of authors from Mark Twain to J.R.R. Tolkien, received support from more than 70 percent of lenders to eliminate $3.1 billion in debt. The prepackaged bankruptcy reorganization will allow the textbook publisher to reduce annual cash interest costs by about $250 million, Boston-based Houghton said Friday in a statement.
Stuart Weitzman, Soft Surroundings to open stores at the Mall at Chestnut Hill Stuart Weitzman is a tony cobbler who believes that shoes are an art form for “making a woman feel beautiful.” Now a Stuart Weitzman store is scheduled to open this fall at the Mall at Chestnut Hill. Stuart Weitzman won’t be alone in wooing women who deem themselves discerning shoe shoppers. Another store set to open at the mall in the fall is Soft Surroundings, whose website bills its shoes as “fun, flirty styles for your feet.” Soft Surroundings also sells clothing and bedding.
Regulators reject FAIR Plan proposal to hike rates Massachusetts insurance regulators Friday rejected a proposed 7.2 percent rate hike by the FAIR Plan, the state’s home insurer of last resort. The FAIR Plan had proposed raising home and condo insurance rates by 6.7 percent on the Cape and the Islands and 9.9 percent in several other areas, including New Bedford, Worcester, and Springfield. The plan, currently covers 201,150 householders who are unable to obtain coverage from other insurers, often because they are thought to be at high risk for flooding, hurricanes, or other disasters.
Dunkin’ executive chef Stan Frankenthaler wins kudos for menu innovation Dunkin’ Brands Group Inc., the Canton-based parent of the Dunkin’ Donuts and Baskin-Robbins, announced Friday that executive chef Stan Frankenthaler has been honored as the 2012 MenuMasters Innovator of the Year. Frankenthaler was recognized for the culinary innovation that he has led for both Dunkin’ Donuts and Baskin-Robbins. Under Frankenthaler’s watch, Dunkin’ devised such new menu items as the Big N’ Toasted Breakfast Sandwich, Sausage Pancake Bites, and Bagel Twists. Meanwhile, on the ice cream front, Baskin-Robbins unveiled such new flavors as Superfudge Truffle and French Toast.
California firm is opening a Hub showroom that will sell used lab equipment BioSurplus, a California-based company that buys, sells, and auctions used lab equipment, is opening a facility in Boston, according to the Massachusetts Life Sciences Center, a quasi-public agency. BioSurplus said it has completed the majority of its $1.5 million capital raise from KI Investment Holding. The funds will be used to support the company’s expansion into Boston,
Cape Cod filmmaker Dan Adams gets 2 to 3 years in prison for $4.7 million tax-credit fraud Daniel Adams, a Cape Cod filmmaker convicted of fraud for illegally obtaining $4.7 million in state film tax credits, was sentenced Thursday to two to three years in state prison.
Fidelity starts new Global Equity Income fund Fidelity Investments said it’s launching a new Global Equity Income fund, in an effort to provide investors a portfolio of larger, less-volatile stocks that also pay dividends. The fund’s manager, Ramona Persaud, said the Boston mutual fund giant’s clients who are nearing retirement age are looking for investments that fluctuate less dramatically during turbulent economic periods. “They’ve really gone through a rough patch over the last two decades,’’ Persaud said. “Our investor base is really sensitive to volatility.”
Former Southbridge resident sentenced to 22 years in jail for homebuyers tax-credit fraud A former Southbridge resident was sentenced Thursday to nearly 22 years in prison for his involvement in a tax credit fraud scam related to the federal first-time home buyer tax credit program. Junior A. Lopez was sentenced in US District Court in Worcester for his involvement in a 2008 scam involving more than 50 fraudulent tax forms and $500,000 in refunds, prosecutors said. He pleaded guilty last year to fraud-related charges linked to the federal program, which was aimed at stimulating the sluggish US housing market
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