Thursday, September 6, 2012

Daily Business Update

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Daily Business Update


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Thu. Sep. 06, 2012

Amazon reveals new Kindle

Amazon.com has announced a new illuminated version of its popular Kindle e-book reader. The Kindle Paperwhite will sell for $119 for a basic version that connects to Wi-Fi wireless Internet services, or $179 for a version that can download electronic books over 3G cell phone networks. Amazon chief executive Jeff Bezos said the Paperwhite’s screen will have 62 percent more pixels than the current Kindle, so that books will appear clearer and easier to read. Amazon is taking orders for the new device and will begin shipping it on Oct. 1.

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WBZ-TV renews agreement to broadcast the Boston Marathon

WBZ-TV (Channel 4) and the Boston Athletic Association said Thursday that they have renewed their exclusive Boston Marathon partnership for four years through the 120th running of the Boston Marathon in 2016. As part of the agreement, WBZ-TV will continue to be the exclusive broadcaster of the Boston Marathon providing live coverage of the 117th running of the Boston Marathon, which is scheduled for Monday, April 15, 2013.

BJ’s Wholesale said to seek $1.62b in loans to refinance

BJ’s Wholesale Club Inc., the US warehouse-store chain acquired last year by Leonard Green & Partners LP and CVC Capital Partners, is seeking $1.625 billion in loans to refinace debt and pay a dividend, according to a person with knowledge of the transaction. Headquartered in Westborough, BJ’s operates roughly 190 club stores in 15 states from Maine to Florida, according to its website.

Suffolk Construction will manage One Channel Center project in Boston

Suffolk Construction Co. said it has been selected to manage construction of the One Channel Center project in Boston. The $125 million project, developed by a joint venture of AREA Property Partners and Commonwealth Ventures, will feature an 11-story office building with 525,000 square feet of space and a 10-level above-ground parking garage that can accommodate 950 vehicles. When completed, something expected to happen in 2014, the new building will be fully occupied by State Street Corp.

Green Bay Packers star Clay Matthews pitches Gillette’s Fusion ProGlide razor line

Gillette, the Boston-based male grooming brand that is the “Official Shave of the NFL,” said that National Football League star Clay Matthews will support a marketing campaign for Gillette’s Fusion ProGlide razor line. According to Gillette, Matthews has “succeeded by going against the grain of conventional wisdom throughout his football career.” Also according to Gillette, the Fusion ProGlide razor “provides incredible comfort even against the grain.”

Dominion seeking to sell power plants in Illinois, Massachusetts

Dominion Resources Inc. plans to sell three power plants, two in Illinois and one in Massachusetts, capable of generating a combined 4,118 megawatts. The Massachusetts plant is the Brayton Point Power Station in Somerset. Dominion will use proceeds from the sale to reduce debt and boost its regulated businesses, according to a statement from the Virginia-based company.

AIM: Business confidence in Massachusetts improved in August

Statewide business confidence improved last month, according to a monthly confidence index maintained by the Associated Industries of Massachusetts, or AIM. The index added three points in August to post 55.2 reading on its 100-point scale. The August reading continued a rebound from an 8.5-point plunge in June, said AIM, an organization of Massachusetts employers.

Charles River Laboratories opens biomedical diagnostic facility in Wilmington

Charles River Laboratories Inc., a company that provides drug testing and lab animal support services, announced the opening of its new biomedical diagnostic testing facility in Wilmington. The 60,000-square-foot R&D services facility expands the company’s diagnostic capabilities for research model health monitoring, clinical chemistry, hematology, biomarker assay development, and immunoassay services. The company has about 1,000 employees in Massachusetts and about 7,100 worldwide.

Blimps ahoy! HP Hood set to fly in ‘blimp parade’ above NYC

In New England, HP Hood is known for milk, ice cream, and blimp that advertises its products. On Thursday, plans call for the Hood airship to be in New York to fly in a “blimp parade” above the Hudson River. So many blimps aloft in one place is a “blue moon” event, according to HP Hood.

Pyramid Hotel Group is the new management company for the Sheraton Gateway in LA

Pyramid Hotel Group, a privately owned hotel and resort company based in Boston, announced that it was named the new management company for the 802-room Sheraton Gateway Los Angeles Hotel. The Sheraton Gateway is located at the entrance to Los Angeles International Airport and about 15 miles from downtown Los Angeles. Pyramid Hotel Group manages and asset-manages more than 70 hotels and resorts across the United States. Among the properties the company manages in the Greater Boston market is the Boston Harbor Hotel.

Hawthorn Medical leaves Partners HealthCare System to link up with Steward Health Care

Nine months after scooping up 150 doctors from Beth Israel Deaconess Medical Center’s physician group, fast-growing Steward Health Care System has lured away more than 110 other health care providers affiliated with the giant Partners HealthCare System. Hawthorn Medical Associates, the largest multi-specialty practice in the New Bedford area, disclosed Wednesday that it has signed a 10-year affiliation deal with Steward, a Boston-based chain of 11 hospitals and other health care sites across Eastern Massachusetts.

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