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Mon. May. 14, 2012 Kenneth Heebner buys Whirlpool, Cummins, sells Priceline.com, Ford Kenneth Heebner, who ran one of the top-performing US mutual funds during the past decade, bought stakes in Whirlpool Corp. and Cummins Inc. during the first quarter while selling Priceline.com Inc. and Ford Motor Co. Capital Growth Management LP purchased 1.82 million shares of Whirlpool, the world’s largest appliance maker, during the three-month period that ended March 31, according to an SEC filing. The money manager bought 1.01 million shares of Cummins, a maker of diesel engines, after closing out its position in the fourth quarter.	Advertisement
Conn. unveils 2-year, $27m tourism campaign HARTFORD — Connecticut is using a new marketing strategy to boost tourism that draws attention to the state’s role in the Revolutionary War. Governor Dannel P. Malloy unveiled on Monday a ‘‘Still Revolutionary’’ Connecticut brand, part of a two-year, $27 million state marketing initiative. The ads will run on TV to take advantage of ‘‘sweeps week’’ when programs reach for top ratings and on radio, print, and digital platforms.
Mass. gas prices fall a nickel a gallon The average price for gas in Massachusetts was $3.719 a gallon in the latest weekly AAA survey, down 5 cents from the previous week’s average, AAA Southern New England said Monday. It was the fourth consecutive week of price drops. The price of a gallon of gas in Massachusetts has fallen 18 cents over the last month. The current national average for gas is $3.72 a gallon. A year ago at this time, the Massachusetts average price was $3.93 a gallon.
Yahoo’s Thompson reportedly has thyroid cancer Yahoo’s Scott Thompson, who was pressured to give up his CEO post because his official biography included a college degree he never received, reportedly has thyroid cancer. The Wall Street Journal, citing people it did not identify, says that Thompson told Yahoo’s board and several colleagues of his condition before resigning from his role with the company. The newspaper says it was told by one source that Thompson’s decision to resign was partly influenced by his cancer diagnosis.
Bradford Networks raises $3m in Series C financing Bradford Networks, a Cambridge network security firm, announced Monday the closing of a $3 million round of financing. Updata Partners led the round and was joined by Windspeed Ventures, Bradford Networks said. The investment will support Bradford’s expansion into the health care and government markets, the company said. To date, the company has raised $15 million. Bradford helps its corporate customers provide secure network access for the mobile devices they issue to their employees.
WatchESPN is now available to Comcast Xfinity TV customers with iPads and iPhones Comcast Corp. said its Xfinity TV customers can now access ESPN live streaming content via the WatchESPN app and on Comcast’s XfinityTV.com, something that could be of interest to sports fans as the National Basketball Association play-offs and the Major League baseball season heat up. Customers who receive ESPN’s networks as part of their Xfinity video subscription can now stream such events as well as associated coverage live from ESPN, ESPN2, ESPN3, and ESPNU from their iPads, iPhones, and iPod touch devices, as well as online.
20 janitors at downtown building out of work after owners hire non-union maintenance firm Twenty janitors are out of jobs after the owners of the Park Square building they worked in signed a contract with a non-union maintenance company. Capital Partners, a New-York based real estate company that owns the property at 31 St. James St., ended the contract with UGL Unicco, and signed a new deal with with Crystal Bright, a commercial property maintenance company based in Medford. Crystal Bright declined comment and referred questions to officials at Capital Properties, who did not return calls for comment.
New York Times Co. sells its remaining stake in the Boston Red Sox The New York Times Co. said it has sold its remaining share of Fenway Sports Group, which includes the Boston Red Sox, for $63 million. The sale, to undisclosed buyers believed to be current minority owners of the team, ends the Times Co.’s ownership stake in the Red Sox. Over 10 years, the company tripled its investment, having originally purchased a 17.5 percent stake in the team for $75 million in 2002. In recent years it has sold off portions of that share, for a total of $225 million.
Mass. AG Martha Coakley alleges Apple Inc. conspired with publishers to price-fix e-books Massachusetts Attorney General Martha Coakley is joining counterparts in 32 other states in alleging that technology giant Apple Inc. engaged in the price-fixing of e-books with publishers Penguin Group and Macmillan Publishers. “We allege that through their actions, the defendants and their co-conspirators collected more than $100 million worth of overcharges from consumers across the country,” Coakley said. Attempts to reach Apple and Macmillan were not immediately successful. Apple and Penguin have denied similar allegations in the past.
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.
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.
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