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Wed. Jun. 06, 2012 Running of the Brides brand auction is at a standstill An auction scheduled this week to sell off the intellectual property of Filene’s Basement and its parent company Syms Corp. has been called off indefinitely until the creditors can decide on a plan to close out the bankruptcy case. The sale of the assets, including the Filene’s Basement and Running of the Brides names, had already been delayed once. Several unnamed bidders submitted proposals by last week’s deadline. But unresolved issues over the direction of the reorganization prompted the cancellation of the auction.	Advertisement Sign up to receive daily deals from Boston.com in your inbox.
Three patent attorneys join Hub law firm Wolf Greenfield Wolf, Greenfield & Sacks P.C., a Boston law firm specializing in intellectual property, said its sharpening its litigation focus with the hiring of three attorneys. Gregory F. Corbett was previously a partner specializing in patent litigation at the Washington, D.C., office of Kirkland & Ellis LLP. Two other attorneys with backgrounds in patent litigation, D. Alexander Ewing and Nathan R. Speed, have also joined Wolf Greenfield. Ewing and Speed were previously at WilmerHale.
Chiofaro to draw new plan for Harbor Garage on waterfront Boston Developer Donald Chiofaro says he will submit a new plan to redevelop the Harbor Parking Garage along the Rose Fitzgerald Kennedy Greenway after a prior plan failed to gain traction in city hall.
Oppenheimer to pay $35m over SEC mutual fund claims OppenheimerFunds Inc. will pay $35 million to resolve US regulatory claims it misled mutual-fund investors about exposure to commercial mortgage-backed securities amid credit-market turmoil in late 2008. Units at OppenheimerFunds, a unit of Massachusetts Mutual Life Insurance Co., inadequately disclosed two funds’ use of leverage that increased risk and made misleading statements about losses as markets froze, the Securities and Exchange Commission said in an administrative order. The company agreed to settle the claims without admitting or denying wrongdoing.
Synergy Investment buys Boston office building for $40m Synergy Investment, a Boston-based real estate investment firm, has purchased a Boston office building at 441 Stuart St. for $40 million, said a broker involved in the transaction. The broker is HFF, a company that provides commercial real estate and capital markets services. HFF said it marketed the property exclusively on behalf of the seller, ST Residential.
NetProspex receives $7m in Series B funding NetProspex, a Waltham-based provider of business contact data services, announced Wednesday it has received $7 million in Series B funding. The deal was led by information technology investment firm Edison Ventures, which has invested $8.8 million in the company over the course of two rounds. Previous investors also participated in this round. The funding will be used to support “aggressive expansion toward category leadership in cloud-based data services,’’ NetProspex said.
Iron Mountain soars on REIT plan, dividend boost Iron Mountain Inc., a document-storage company, soared as much as 14 percent after approving a plan to convert to a real estate investment trust and increasing its quarterly dividend by 8 percent. The stock advanced as high as $32.50 in early trading. The Boston-based company’s shares had dropped 7.8 percent this year before today. Iron Mountain was pressured in March 2011 by investor Elliott Management Corp. to review its strategy and consider conversion to a REIT.
AMSC 4Q loss narrows AMSC, which is embroiled in lawsuits against the company that was once its largest customer, said Wednesday that its fourth-quarter loss narrowed from $185.1 million to $21.2 million. Last year’s fourth quarter included $155.3 million in aggregate one-time asset write-downs, impairments, and accrued charges, said AMSC, a Devens company that makes control systems for wind turbines. This year’s fourth-quarter revenues were $28.6 million, down from $59.8 million a year ago.
Staples survey: Many small business owners plan to upgrade to Windows 8 Many small business owners are already planning to upgrade to Windows 8, attracted by the software’s ability to work across a range of devices such as tablet computers, according to a new survey from Staples Inc., the office-supply giant headquartered in Framingham. Small businesses make up a core customer group for Staples, which sells computers as well as paper clips and paper. The index highlighted the growing importance of tablets to small business owners, with 28 percent of respondents saying they use company-owned tablets.
Plymouth nuke plant labor dispute leads to lockout A labor dispute at the Pilgrim nuclear power plant in Plymouth has boiled over with management locking out unionized workers and both sides accusing the other of compromising public safety. Utility Workers Union of America Local 369 said Wednesday that plant owner Entergy locked out unionized employees after contract negotiations ended Tuesday. The union represents about 90 percent of the plant’s work force. Entergy said the plant has implemented an emergency staffing plan because the union reserved the right to walk off the job at any time.
CVS/Caremark chief says company can play key role in improving US health care system Pharmacies have an important role to play in the evolution of the nation’s health care system, Larry J. Merlo, chief executive of CVS Caremark Corp., told a group of Boston-area business leaders Tuesday. Speaking at a Boston College Chief Executives’ Club luncheon, Merlo said health care faces three overlapping challenges in the next few years: -- a “silver tsunami” of aging baby boomers, millions of newly insured people if the national health care overhaul survives US Supreme Court scrutiny, and a projected shortage of primary care physicians.
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