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Thu. Aug. 16, 2012 OneUnited Bank president Teri Williams testifies that bank tried to work out loans with Charles Street AME church OneUnited Bank president Teri Williams testified that she was personally involved in trying to work out nearly $5 million in loans with leaders of the Charles Street African Methodist Episcopal Church in the summer of 2010, after the church had defaulted on a construction loan.	Advertisement
Tax holiday weekend proving reliable relief for retailers Retailers say the near-annual sales tax holiday weekend that just ended likely produced higher sales and traffic than in previous years, proving to be a crucial crutch to get them through an otherwise quiet shopping period. At Percy’s, a television and appliance store in Worcester, vice president of sales Alan Lavine said sales this past weekend exceeded the previous year’s tax holiday by a considerable amount--somewhere in the high single digits. He said he noticed many customers buying necessary goods.
Mass. clean energy economy growing, report says. The growth of the Massachusetts’ clean energy economy is outpacing the overall economy nearly tenfold, according to a new report that measures clean energy sector employment and businesses. The Massachusetts Clean Energy Center announced Thursday that its annual report found an 11.2 percent growth in the sector’s economy from July 2011 to July 2012.
Ad firm Allen & Gerritsen moves to the waterfront Advertising agency Allen & Gerritsen has moved from Watertown to Boston’s waterfront Innovation District. The 130-employees firm, which said it plans to add as many as 50 new employees over the next several years, made the move “to expediate the company’s strategic growth plan.”
Idenix shares plunge on hepatitis C treatment heart fears Idenix Pharmaceuticals Inc. fell as much as 35 percent after a trial of the company’s hepatitis C drug was placed on hold because of heart failure concerns raised in a competitor’s study of a similar medicine. The U.S. Food and Drug Administration is looking at other compounds from the same class of medicines called nucleotide polymerase inhibitors, Idenix Chief Executive Officer Ron Renaud said on a conference call today.
Trusteer expands to Japanese market Trusteer, a Boston company that sells cybercrime prevention software, said on Thursday that it has established operations in Japan to meet growing demand among financial institutions and enterprises for its fraud prevention and protection products. The company also appointed Norio Miyazawa as Country Manager for Trusteer Japan. Miyazawa, who has more than ten years of financial and fraud prevention solution experience with Actimize Japan, SuperDerivatives Japan, and Algorithmics Japan, will head up the company’s Japanese operations.
Crane & Co. paper company announces layoffs The western Massachusetts company that has provided the paper used to make U.S. currency since 1879 has announced plans to lay off 55 workers. Dalton-based Crane & Co. says the job eliminations announced Wednesday are part of a consolidation plan to rejuvenate the 211-year-old paper company’s stationery business.
Mass. unemployment rate rises in July as employers add 1,600 jobs The Massachusetts unemployment rate rose to 6.1 percent in July as employers added 1,600 jobs, the Massachusetts Executive Office of Labor and Workforce Development reported Thursday morning. It was the first increase in the state unemployment rate since October 2009. The jobless rate was 6 percent in June.
Mass. company recalls soup sold in NY stores A Fall River, Mass., manufacturer is recalling about 4,000 pounds of soup products after consumers found bits of plastic in the soups. The U.S. Department of Agriculture says the products made by Blount Fine Foods were sold at Wegmans supermarkets in Massachusetts, Maryland, New Jersey, New York, Pennsylvania and Virginia. Wegmans is based in Rochester, N.Y.
Brewery opens new restaurant in Hampton, NH The Smuttynose Brewing Company is holding a groundbreaking ceremony for its new restaurant in Hampton, N.H. The project is financed in part through federal programs, including a loan through the Small Business Association.
Dunkin’ Donuts launches mobile pay app Dunkin’ Donuts has launched its first mobile pay application, allowing customers to forgo cash or plastic and just flash a smartphone. Consumers can also use the free app to send virtual gift cards via text, email or Facebook.
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