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Thu. Dec. 20, 2012 Massachusetts unemployment rate holds steady at 6.6 percent for November The Massachusetts unemployment rate held steady at 6.6 percent in November after four straight months of increases, the state’s Executive Office of Labor and Workforce Development said Thursday. During the month of November, the local economy lost 1,100 jobs, the office said. From November 2011 to November 2012, jobs are up 46,600 in the Bay State. Earlier this month, the US Department of Labor reported that the nation’s unemployment rate for November was 7.7 percent, down from 7.9 percent in October.	Advertisement
Biogen Idec consortium looks to identify new approaches for treating ALS Biogen Idec Inc. said Thursday that it has formed a consortium with several academic research centers that looks to identify new approaches to treating amyotrophic lateral sclerosis, or ALS, , which is also known as Lou Gehrig’s disease. Weston-based Biogen Idec said that it has committed more than $10 million over three years to fund research projects by members of the consortium. The initiative will complement a collaboration the company announced earlier this year with Duke University and the Hudson Alpha Institute to sequence the genomes of 1,000 people living with ALS.
Massachusetts approves $34 million in tax breaks for TripAdvisor, Vistaprint, and other firms A Massachusetts economic development board on Wednesday approved $34 million in state and local tax breaks for more than a dozen companies, including TripAdvisor and Vistaprint, that promised to create new jobs and investment in the state. The awards included $29 million in local property tax breaks that have already received preliminary approval from cities and towns, plus another $4.7 million in state tax credits that were made public by the Economic Assistance Coordinating Council for the first time on Wednesday.
Labor dispute could lead to shutdown of Port of Boston A labor dispute between longshoremen and the consortium of shipping companies and East Coast ports has fostered worries that if unresolved the dispute could lead to a shutdown of the Boston port and others by year’s end. According to the United States Maritime Alliance, which represents the ports and shipping companies, the International Longshoremen’s Association voted to strike when the current contract expires on Dec. 29. The two sides claimed that the other rejected a short-term contract extension on Tuesday.
State unveils new effort to provide `service-rich’ housing to Massachusetts homeless Massachusetts Lieutenant Governor Timothy Murray on Wednesday unveiled a collaborative effort designed to create 1,000 housing units and accompanying support services for homeless and low-income residents by 2015. The plan involves a collaboration between 18 state agencies to provide much-needed housing as well as child care, job training, mental health care, and other assistance, Murray said.
East Boston Savings Bank plans to open three more branches East Boston Savings Bank, which has 27 branches, plans to open three more retail offices in Massachusetts next year. The Boston bank said Wednesday that it plans to open two branches in January, one at 181 Brighton Ave. in Boston’s Allston neighborhood and a second at 70 Concord Ave. in Belmont. The Allston branch will operate as part of Mt. Washington Bank, which East Boston took over in 2009.
Brooks Automation is cutting 100 jobs as it reduces its workforce by 6 percent Brooks Automation Inc., a Chelmsford-based provider of automation, vacuum, and instrumentation products for such markets as the semiconductor industry, said it will cut 100 jobs, or 6 percent of its workforce, as it looks to “achieve cost synergies” following an acquisition and to improve profitability in a tough economic environment. The company added that 29 jobs of the jobs being cut are in Massachusetts. The cuts will leave Brooks with a Bay State headcount of 605 employees.
Cassidy Turley: Ken’s Foods has bought a Southborough warehouse for $15m Ken’s Foods Inc., a family owned and operated company that produces dressings, sauces, and marinades, has purchased a Southborough warehouse for $15 million, said a broker involved in the transaction. The broker is Cassidy Turley, which said that the seller of the 350,000-square-foot warehouse was Cornerstone Real Estate Advisors.
Vertex updates label of hepatitis C drug after reports of a ‘small number of fatal skin reactions’ Vertex Pharmaceuticals Inc. will more prominently display warnings of possible side effects on the US labels of its blockbuster hepatitis C drug Incivek, following reports of a small number of fatalities. A known side effect of Incivek is skin rash, and that was noted on the drug’s original label following its US approval in 2011. Cambridge-based Vertex said Wednesday that the updating of the US label “follows reports of a small number of fatal skin reactions in patients who continued to receive Incivek combination therapy after a serious skin reaction was identified.”
Upper Crust pizza chain sliced up at auction; ousted founder wins leases for some locations Bidding for Upper Crust’s assets is underway and a private equity firm with ties to founder Jordan Tobins appears to have won leases for the currently-closed South End, Lexington, Watertown, and Wellesley stores, while an attorney who filed a lawsuit against Tobins and the bankrupt pizza chain for allegedly exploiting workers submitted the highest bid for the Harvard Square location.
Welch’s: This year’s Concord grape harvest was the smallest since 1977 Welch’s, the Concord-based processing and marketing subsidiary of the National Grape Cooperative, said the 2012 Concord grape harvest was devastated by fluctuating temperatures, the Midwest droughts, and Hurricane Sandy. According to Welch’s, the harvest of the grapes it uses for juices and other products was reduced by 30 percent. Welch’s added that 2012 was the smallest harvest for Concord grapes since 1977.
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