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Tue. Jul. 10, 2012 Creditors seek answers in bankruptcy hearing for Curt Schilling’s video game company A bankruptcy trustee and creditors grilled representatives of former Red Sox pitcher Curt Schilling’s failed Rhode Island video game company at a court hearing in Wilmington, Del. on Tuesday afternoon. The hearing was the first opportunity for creditors to question 38 Studios LLC executives about its financial affairs since the firm filed for Chapter 7 bankruptcy last month, the first step toward the company’s eventual liquidation. The bankruptcy filing was made in Delaware, because that is where the company incorporated	Advertisement
Hotels enjoying boom in 2012, but next year more mixed While 2012 is proving to be a banner year for hotels in the state, next year will be more mixed, with room occupancy down but revenues up, according to a forecast released Tuesday by the Massachusetts Lodging Association.
Wahlberg brothers name new CEO to lead expansion of Wahlburgers Rick Vanzura is the new chief executive of Wahlburgers, a hamburger-restaurant concept launched by South Shore chef Paul Wahlberg and his celebrity brothers Donnie and Mark Wahlberg. The flagship Wahlburgers is in Hingham. Formerly executive vice president and co-chief operating officer of the casual restaurant chain Panera, Vanzura will focus on growing the Wahlburgers brand and opening restaurants nationwide beginning in Greater Boston.
Maryland researchers will use an autonomous underwater vehicle from Hydroid A laboratory at the University of Maryland has bought a Remus 600 for its research studies of coastal environments, said Hydroid Inc., a Bourne-based maker of autonomous underwater vehicles, or AUVs. Hydroid said Tuesday that the Horn Point Laboratory at the University of Maryland’s Center for Environmental Science plans to use the Remus not only for its own projects but also to share it with other researchers. According to Hydroid’s website, the Remus 600 is capable of performing such assignments as hydrographic surveys, debris-field mapping, and scientific sampling.
Tufts study: Cancer drug approvals in US outpace approvals in Europe New oncology drug approvals in the United States outpaced European approvals by 33 percent between 2000 and 2011, according to a new study by the Tufts Center for the Study of Drug Development. Another study finding: Oncology drug prices in Europe, on average, are 9 percent lower than prices in the United States. But what is not clear from the study is whether greater access to oncology drugs leads to better outcomes, Tufts said.
Paydiant closes $12m in Series B funding Paydiant Inc., a Wellesley firm developing back-end technology for retailers and banks to create their own mobile commerce and payment apps, said Tuesday that it has closed a $12 million round of Series B financing. The round was led by Stage 1 Ventures. The Series B round also included existing investors North Bridge Venture Partners and General Catalyst Partners. Paydiant said it raised $7.6 million in early 2011.
Talbots today on takeover, tomorrow seen returning 61 percent Talbots Inc., which posted the worst returns of any US retailer in the past decade, is now offering some of the biggest potential gains for traders willing to bet a deal with Sycamore Partners LP will finally close. With the Hingham-based women’s apparel chain trading 8 percent below Sycamore’s takeover bid of $2.75 a share, investors buying the stock today could post a 61 percent profit on an annualized basis if the acquisition is completed by the end of August.
Lexvest Group announces acquisition of Cape Colony Inn The Lexvest Group, a real estate investment and development company located in Shirley, announced the acquisition of Cape Colony Inn in Provincetown for an undisclosed amount. The seller of the 57-room seasonal inn was previous owner Jack Still. Under Lexvest, the inn is now being operated by Finard Coventry Hotel Management LLC, which owns and manages the nearby Harbor Hotel Provincetown.
Vornado sells Boston Design Center Vornado Realty Trust of New York has sold the Boston Design Center as part of a portfolio of similar properties across the country, the company reported Monday.
AT&T may drop $1.15 million suit against Ipswich business owner A small business owner in Ipswich may soon be off the hook for $1.15 million in fraudulent international phone charges, after telecom giant AT&T Inc. said it wants to drop a lawsuit against the company. But Michael Smith, president of Todd Tool & Abrasive Systems Inc., said AT&T gave him until 5:00 p.m. to say whether he will drop his countersuit -- a deadline he said he will not meet.
MassHousing: New loan will preserve affordable housing at Somerville’s BF Faulkner Tower MassHousing, the state’s affordable housing bank, announced a $10.1 million loan closing Monday that will preserve affordable housing at BF Faulkner Tower in Somerville, a 130-apartment community for senior citizens. BF Faulkner Tower’s original 40-year mortgage was scheduled to be paid off in 2017. When such loans are paid off, owners can switch to market-rate rents. BF Faulkner Tower’s owner opted to refinance with MassHousing and to re-commit to renting out many of the units at below-market rates.
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