Thursday, September 20, 2012

Daily Business Update

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Daily Business Update


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Thu. Sep. 20, 2012

Study: Massachusetts women earn about $14k less a year than Massachusetts men

The median yearly pay for women in Massachusetts is $14,079 less than the pay earned by Massachusetts men; that means that Bay State women earn 77 cents for every dollar earned by their male counterparts, the National Partnership for Women & Families said Thursday. An advocacy group, the partnership says that one of its goals is promoting fairness in the workplace. It said its analysis is based on US Census Bureau data.

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MBTA Silver Line service will remain free through January

Silver Line service between Logan International Airport and South Station will remain free through Jan. 6, the Massachusetts Port Authority said Thursday. The MBTA bus service, which started in 2006, has been free since June as way to reduce traffic congestion in airport terminals and increase awareness of public transportation.

Nominate someone who has championed diversity in Massachusetts for our Diversity Boston issue

The winter issue of The Boston Globe’s Diversity Boston magazine will honor the people who have done the most for diversity in Massachusetts in recent years. Do you know someone who deserves to be recognized? We’re looking for nominations of people who have had an impact in every field such as business, government, nonprofit, schools and academia. We’re hoping to find people whose understanding of underrepresented groups has helped tear down old barriers and opened doors for all.

Amy Latimer is the new president of TD Garden

Delaware North Cos. Boston said Thursday that Amy Latimer has been appointed as the president of TD Garden, the Boston arena where the Bruins play hockey and the Celtics play basketball. It is a promotion for Latimer, who was previously senior vice president of sales and marketing. The TD Garden is owned and operated by Delaware North Cos. Latimer’s promotion was announced by John Wentzell, president of Delaware North Cos. Boston. He continues to shift his focus toward commercial development in Boston, the company said.

Massport board confirms Thomas Glynn as CEO

The Massachusetts Port Authority board approved Thomas Glynn as its chief executive Thursday, filling a void left by the retirement of Thomas Kinton more than a year ago.

Pall plans to open ‘Life Sciences Center of Excellence’ in Westborough

Pall Corp., a company that helps its customers to purify and conserve water, consume less energy, and minimize emissions and waste, is relocating its local operations from Northborough to Westborough, the real estate firm Cushman & Wakefield said. Pall plans to open a “state-of-the-art Life Sciences Center of Excellence” in its new space. Among other specialties, Pall helps its life sciences customers to develop new drugs. Pall’s Westborough life sciences center is expected to open in early 2013.

State’s unemployment rate rose to 6.3 percent in August as local economy lost 4,800 jobs

Massachusetts unemployment rate rose to 6.3 percent in August, up from 6.1 percent in July, as the state’s economy lost 4,800 jobs last month, the Massachusetts Executive Office of Labor and Workforce Development reported Thursday. The August job loss follows a revised gain of 300 jobs in July. An earlier report had estimated that the state’s economy had added 1,600 jobs in July.

Rick Tonzi is the new GM of South Shore Plaza

Rick Tonzi is now the general manager of South Shore Plaza in Braintree, the mall’s operator, Simon Property Group Inc., said. Tonzi has been employed with Simon Property for 24 years and previously served as general manager at Burlington Mall, another shopping center in the Simon Property portfolio.

Boston Fed president Eric Rosengren backs stimulus plan

The Federal Reserve should stick with its new stimulus program until it sees evidence of a sustainable recovery, according to Federal Reserve Bank of Boston president Eric Rosengren. He said the stimulus was the right strategy to combat the threat of a “great stagnation” that could leave the economy listless and US unemployment high.

FDA approves asthma aerosol developed by Acton Pharmaceuticals

Marlborough-based Acton Pharmaceuticals announced Thursday that the Food and Drug Administration has approved its supplemental new drug application for Aerospan Inhalation Aerosol, an asthma treatment for patients 6 years of age and older. Acton said it is now planning to launch Aerospan in early 2013 into the $8.3 billion US inhaled steroid market. Annually, the disease accounts for an estimated $11.5 billion in health care costs.

Third Rock Ventures launches SF firm with $38m Series A financing

Third Rock Ventures LLC, a venture capital firm with offices in Boston, announced the formation of MyoKardia Inc. with a $38 million Series A financing of the company. MyoKardia is developing a pipeline of novel small molecule therapeutics that address key clinical needs for patients with genetic heart disease. MyoKardia will be located in San Francisco and is the second company launched out of Third Rock’s West Coast office.

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