Thursday, September 27, 2012

Daily Business Update

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Daily Business Update


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Thu. Sep. 27, 2012

MassMutual launches Youtube ‘webisode’ series on planning for retirement

MassMutual Financial Group, a Springfield-based company that offers a variety of financial services including retirement planning, said Thursday that one of its business units has just launched a “’webisode series” that seeks to educate consumers on how they should prepare for retirement. The series is called Smart View, and it is scheduled to air Mondays at 2 p.m. on the firm’s YouTube channel, www.youtube.com/retiresmart. The firm said that using social media is a good way to complement its marketing efforts and reach a wider audience.

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Popular bootmaker Frye Company taking over former Charley’s spot on Newbury Street

The Frye Company, a popular bootmaker, plans to open a three-story flagship store on Newbury Street next spring in the space formerly occupied by Charley’s restaurant. Frye’s will take over 11,000 square feet at the corner of Newbury and Gloucester Streets. The new store -- Frye’s second US location -- will feature the brand’s leather footwear and handbags, along with a lounge for special events and vintage trunk shows. It also will provide private fit specialists and services for boot personalization.

Nominate someone who has championed diversity in Massachusetts

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.

Yale, Stanford endowments post stronger investment results than Harvard’s

Two endowments that Harvard University’s is most often compared to produced stronger investment results than the Cambridge giant in the fiscal year that ended June 30. Yale University on Thursday said it earned a 4.7 percent return for the year, while Harvard on Wednesday reported essentially flat results, down 0.05 percent. And Stanford University on Thursday reported a 1 percent gain for the year.

Mass economy slipping into lower gear

The Massachusetts economy, which had been growing faster than the national average on the back of the state’s thriving research sectors, is slowing because of a combination of national and global problems, according to a University of Massachusetts bulletin released Thursday.

‘Let’s Eat.’ Allen & Gerritsen launches new ad campaign for Papa Gino’s

Boston ad agency Allen & Gerritsen said it has launched its first major ad campaign for Papa Gino’s, the Dedham-based chain of roughly 170 pizza restaurants that also sell wings. The campaign unveils a new tag-line: “Let’s Eat.” And one message that the ads seek to convey is that Papa Gino’s is New England’s pizzeria. According to the agency, the new campaign shows “New Englanders of all ages dropping what they are doing – literally – to gather together and enjoy Papa Gino’s pizza and wings.”

IlluminOss Medical secures $28m Series C financing

IlluminOss Medical Inc., an East Providence company that has developed a bone stabilization system for treating fractures, said Thursday that it has secured a $28 million Series C round of venture capital financing. Tekla Capital Management, an investment advisor to H&Q Life Sciences Investors and H&Q Healthcare Investors, based in Boston, and Life Sciences Partners, a global health care and life science investment firm with offices in Amsterdam, Munich, and Boston, co-led the round.

Nuance agrees to buy health information management business

Nuance Communications Inc., a Burlington company known for its Dragon speech recognition software, said Thursday that it has agreed to buy Quantim, the health information management business of QuadraMed, a provider of information technology services to the health care industry. A Nuance press release did not provide financial details of the proposed transaction with Virginia-based QuadraMed. Quantim provides hospitals and health care organizations with software and services designed to maximize the productivity of health information management professionals while ensuring appropriate financial reimbursement to the institution.

Ocean Spray looks to ‘showcase’ the cranberry at Walt Disney World

Working on the theory perhaps that many Florida tourists aren’t as familiar with the cranberry as they ought to be, Ocean Spray is recreating a “free-standing” mini bog in the Sunshine State. The 1,300-square-foot bog will be located at Walt Disney World and can be viewed from Friday through Nov. 12 at the 2012 Epcot International Food & Wine Festival. Thanks to this mini bog, visitors can “feast their eyes on the beauty of the cranberry harvest and discover the cranberry’s secrets,” Ocean Spray said.

Tesla Motors is opening a showroom for its electric cars at Natick Mall

Tesla Motors, a California company that makes luxury electric vehicles, is gearing up to open a showroom at Natick Mall, its first in New England. The showroom is scheduled to open to the public Friday and it will be the company’s 16th retail location in North America. Visitors will be able to ogle the Model S, a sedan with a starting price of $57,400.

Harvard endowment dips slightly, to $30.7 billion, as European losses offset investment gains

Harvard University’s endowment was essentially flat in its fiscal year ended June 30, as steep declines in European and emerging markets wiped out gains in other areas. The nation’s largest college endowment shrunk by $1.3 billion in assets, ending the year with $30.7 billion, as it delivered funds to cover more than one-third of Harvard’s annual budget despite a lean year for its investments.

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