Monday, November 5, 2012

Daily Business Update

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Daily Business Update


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Mon. Nov. 05, 2012

Dunkin’ Donuts looks to get an early jump on the holiday spirit

Dunkin’ Donuts is unveiling seasonal menu items for the holidays. For shoppers and revelers looking to run on Dunkin’, there’s Gingerbread Latte, Peppermint Mocha Coffee, and Red Velvet Munchkins, among other items. And don’t forget the Smoked Sausage Breakfast Sandwich and the Holiday Star Donut.

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Massachusetts gas prices drop a penny a gallon

The average price for gas in Massachusetts is $3.659 a gallon in the latest weekly AAA survey, down 1 cent from the previous week’s average, AAA Southern New England said Monday. The Massachusetts average is down 23 cents over the past month. The current national average for gas is $3.47 a gallon. A year ago at this time, the Massachusetts average was $3.39.

AIM: Massachusetts employers fret about the so-called ‘fiscal cliff’

A monthly business confidence index for Massachusetts employers posted a 51.1 reading in October, down from a 51.3 reading in September, but an analysis of the data used to calculate the index suggests that Bay State employers are deeply concerned about the so-called “fiscal cliff.” The fiscal cliff is a term that describes the steep tax hikes and deep spending cuts that go into effect in January unless Congress reaches a compromise on reducing deficits. The index is maintained by the Associated Industries of Massachusetts, or AIM, an organization that represents the state’s employers.

Hamilton, Brook, Smith & Reynolds plans to open law office in Boston’s Innovation District

Hamilton, Brook, Smith & Reynolds P.C., an intellectual property law firm in Concord, said Monday that it plans to open a second office, this one in the Seaport Innovation District in Boston. The new location, at 155 Seaport Boulevard, is likely to open in September 2013. According to the firm, the Innovation District is the perfect spot for an IP law firm.

Designer Shoe Warehouse plans to open a DSW store at South Shore Plaza next spring

The operators of South Shore Plaza said that the Designer Shoe Warehouse chain will open one of its DSW stores in mall space once occupied by Filene’s Basement. The new store is scheduled to open in the spring. Located in Braintree, South Shore Plaza is home to more than 200 stores, including anchors Lord & Taylor, Macy’s, Sears, Nordstrom, and Target.

End of wood-burning plant plans sparks reactions

RUSSELL — Advocates for a proposed wood-burning electricity plant in Russell says they’re disappointed the project is dead, and blamed stifling Massachusetts regulations. But opponents of the Russell Biomass project said the plant’s inefficiency was what did it in, not regulations aimed at ensuring that renewable energy projects don’t make climate change worse. Last week, Russell Biomass LLC announced it could no longer move ahead with the $165 million, 50-megawatt plant, proposed in 2005. They said the state’s new efficiency regulations made the plant financially unworkable.

Stop & Shop says it’s taking over Johnnie’s Foodmaster in Medford

All 10 Johnnie’s Foodmaster supermarkets are closing, not just the six being taken over by Whole Foods Market, according to a company hired to liquidate the local chain But a seventh store -- in Medford -- will reopen as a Stop & Shop. Hilco Merchant Resources said Johnnie’s has started offering discounts of up to 30 percent as the business starts to wind down after 65 years.

Coakley says rate hike for Bay State Gas wasn’t warranted; DPU defends increase

Massachusetts Attorney General Martha Coakley on Friday criticized the Department of Public Utilities’s decision to let Columbia Gas of Massachusetts to increase its rates by $7.8 million.

Lovejoy Wharf has new owners, new redevelopment plan

A new development team has filed plans to restart a long-delayed residential and office complex at Lovejoy Wharf in Boston’s West End, near the bridge to Charlestown.

Shaw’s Supermarkets is cutting 700 jobs, or just under 4 percent of its employees

Shaw’s Supermarkets, a 169-store chain based in West Bridgewater, said it plans to cut 700 jobs, or just under 4 percent of its total employee headcount. Total headcount after the reduction will be about 17,000, a company spokesman said, and there are no plans to close any stores. About 90 employees have been informed that they’re being laid off, and the rest will be notified over the next several days, Shaw’s said.

Blink!, a light and sound show, will light up Faneuil Hall Marketplace this holiday season

Retailers at Faneuil Hall Marketplace are looking to amp up holiday excitement with Blink!, a six-week light-and-sound show that features the music of the Boston Pops, the Faneuil Hall Marketplace Merchants Association said Friday. With the help of 350,000 LED lights and an 85-foot high Christmas tree, the plan is to transform the area into “a must-visit destination” for holiday shoppers, the association said.

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