Tuesday, November 6, 2012

Daily Business Update

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Daily Business Update


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Tue. Nov. 06, 2012

Sunday River opens some ski, snowboarding trails

Sunday River, a resort area in Newry, Maine, said it opened Tuesday for the skiing and snowboarding season. “Thanks to our new energy-efficient snowguns, we’re able to make more snow on more trails by using less air than in years past,” Dana Bullen, president and general manager, said. A Sunday River press release noted that the resort made a recent $1 million investment in its snow-making capacities.

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Some of CNN’s ‘Election Night in America’ coverage is set to take place at Faneuil Hall Marketplace

CNN, the cable news network of Turner Broadcasting System Inc., said it is gearing up to bring its “Election Night in America” coverage to Faneuil Hall Marketplace as part of a larger plan that is set to telecast reports from a range of cities, including New York, Chicago, and Los Angeles. At Times Square in New York, for example, CNN plans to set up “jumbo screens” so local spectators can watch the station’s coverage. The station is also deploying CNN-branded food carts that will serve coffee, hot chocolate, pretzels, and hot dogs to attendees.

TD Bank adding two more branches

TD Bank is continuing to expand in Greater Boston. The bank, already the fourth largest retail bank in Massachusetts, recently filed plans with federal regulators to open two more branches branches on West Broadway in South Boston and on Nahatan Street in Norwood. That’s in addition to more than a dozen branches the bank has added in recent years.

Yankee Candle unveils new options for its ‘My Favorite Things’ scented-candle line

Deerfield’s Yankee Candle Co. is unveiling the latest offerings in its limited edition “My Favorite Things” scented-candle line. This whimsical collection draws inspiration from the popular Rodgers-and-Hammerstein song of the same name.

AMSC’s 2Q loss narrows

AMSC, a Devens company that makes products for wind turbines and energy grids, reported a second-quarter loss of $15.9 million, or $0.31 per share, compared with net loss was $51.7 million, or $1.02 per share. AMSC said its second-quarter 2012 results included a $3.3 million non-cash “mark-to-market” benefit driven by the re-valuation of the derivative liability and warrants associated with the company’s debt financings. Second-quarter revenues of $20.9 million were roughly flat with those of the same quarter a year ago.

HFF secures $27m in financing for two Fenway buildings

HFF, a provider of commercial real estate services, said that it has secured $27 million in financing for 1249 and 1255 Boylston St., a two-building office and retail portfolio totaling about 70,0000 square feet in the Fenway neighborhood of Boston. HFF said it worked on behalf of Samuels & Associates, a Boston developer that manages and leases properties, to refinance existing debt. HFF added that it placed the fixed-rate loan with Boston Private Bank & Trust Company.

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.

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.

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