Wednesday, May 30, 2012

Daily Business Update

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Daily Business Update


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Wed. May. 30, 2012

Verizon boosts available FiOS broadband speeds

Verizon 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.

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Boston’s Mintz Levin Financial Advisors being acquired by Focus Financial Partners

Mintz 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 website

A 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 Park

The 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 month

The 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 board

Harvard 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 case

China’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 finalists

After 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 state

Curt 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 Scientific

The 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 WRKO

Tom 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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