Friday, July 13, 2012

Daily Business Update

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Daily Business Update


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Fri. Jul. 13, 2012

Andrew G. Arnott named president and chief executive of John Hancock Funds

John Hancock Funds, the Boston-based mutual fund business of John Hancock Financial, has named Andrew G. Arnott as president and chief executive, succeeding Keith F. Hartstein, who is retiring from the company as previously announced. Most recently, Arnott served as executive vice president of John Hancock Investment Management Services. John Hancock Funds managed more than $74.5 billion in open-end funds, closed-end funds, private accounts, college savings and retirement plans, and related party assets for individual and institutional investors as of March 31.

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GZA GeoEnvironmental plans to relocate its Norwood HQ

GZA GeoEnvironmental Inc., a firm that provides geotechnical engineering and environmental consulting services, is relocating its headquarters from one Norwood address to another, according to brokers involved in the new lease transaction. GZA is planning to move to roughly 50,000 square feet of space at 249 Vanderbilt Ave. next spring. Until the move, GZA will remain at its current location at One Edgewater Dr. in Norwood.

Dartmouth’s Tuck School launches business center

HANOVER, N.H. — The Tuck School of Business at Dartmouth has created a new Center for Business and Society. The center at the graduate school of management is the evolution of what was known as the Allwin Initiative for Corporate Citizenship. The new center aims to prepare students for leadership, focusing on such topics as corporate social responsibility, environmental sustainability, social entrepreneurship, and community involvement.

Raytheon plans to compete for air traffic control contract

Raytheon Co., the Waltham-based defense contractor, said it is planning to compete for the US Air Force’s Deployable Radar Approach Control program. The program, also known as D-RAPCON, is a deployable air traffic control surveillance system for aircraft worldwide. “D-RAPCON will provide critical infrastructure during a disaster situation where existing ATC (Air Traffic Control) has been made inoperable,” Mike Prout, a Raytheon vice president, said in a statement. “Transportable air traffic management systems are necessary to provide support and resources even in remote areas.”

LoJack: Summer’s here, and the time is right for car thieves

Summer is one of the busiest times of the year for car thieves, according to FBI data, and LoJack Corp. wants to alert all hands that when a car gets stolen, an owner’s identity and home can also be at risk. That’s because thieves often find GPS devices and tablet computers in the cars they steal, and those devices can be loaded with the car owner’s personal information. LoJack is a Canton-based company that sells radio-frequency tracking devices designed to lead to quick recoveries of stolen vehicles.

iParty plans to open stores in Waltham and Plaistow, N.H.

Party supply retailer iParty said it plans to open two new stores, one in Waltham, the other in Plaistow, N.H. In a statement, iParty chairman and chief executive Sal Perisano said: “We plan to open both the Plaistow and Waltham stores in time for the 2012 Halloween season. When these two stores open, we will have 54 iParty stores in New England and Florida. ”

Vermont’s Bernie Sanders hits US Olympic uniforms made in China

MONTPELIER, Vt. --- Vermont US Sen. Bernie Sanders is complaining about reports that this year’s US Olympic athletes are wearing uniforms made in China. News broke Thursday on several outlets that the red-white-and-blue uniforms to be worn by US athletes at the London games were of Chinese origin. Sanders says he sees no reason why uniforms for US athletes aren’t made in the US. He says it’s a sign of a disastrous trade policy that needs changing.

Penn Foster taps ad agency Allen & Gerritsen for branding assignment

Watertown ad agency Allen & Gerritsen said it has been retained by Penn Foster to redesign its core brand strategy. With offices in Scranton, Pa., and Boston, Penn Foster is one of the largest adult career education institutions in the world. Specializing in online distance learning, the company offers vocational, associate degree, and high school programs to adults around the world.

Yahoo data breach compromises passwords of 450,000 users

Yahoo confirmed Thursday that hackers broke into the company’s network and stole the login information of about 450,000 individuals who use Yahoo as well as other popular Internet email services, including as Google Inc.’s Gmail, AOL, Verizon.net, and MSN.

Webster woman accused of stealing from EMC Corp.

A former employee of data storage company EMC Corp. accused of illegally using a company-issued credit card for more than $155,000 in personal expenses has been ordered held on $7,500 cash bail. Madeline Vinton was arraigned Wednesday in Middlesex Superior Court on five counts of larceny over $250.

RI group offers new home loan option

Rhode Island Housing is celebrating the launch of new home loan programs designed to allow more residents to buy a home. The organization plans to highlight its new loan options with an event Thursday in Cranston. Gov. Lincoln Chafee and Cranston Mayor Allan Fung are scheduled to attend.

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