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Fri. Dec. 21, 2012 TJX Cos. pays $200 million for online Wyoming retailer Sierra Trading Post TJX Cos. Inc., the Framingham-based owner of T.J. Maxx and Marshalls stores, said it bought discount online retailer Sierra Trading Post for about $200 million. The privately-held Sierra Trading Post, which launched in 1999 and is headquartered in Cheyenne, Wyoming, generates annual revenue of more than $200 million. The company specializes in apparel, footwear, and home furnishings. As part of the deal, TJX said, it is acquiring Sierra Trading Post’s office, distribution center and photography studios in Cheyenne, customer call centers in Cheyenne and Cody, Wyoming, and four outlet stores in Idaho, Nevada and Wyoming.	Advertisement
Brian McGrory named Globe’s new editor The Globe has named Brian McGrory, a longtime reporter and Metro columnist for the paper, as its new editor.
Clear Channel launches electronic dance music radio station on former WFNX signal Clear Channel Media and Entertainment on Thursday launched an electronic dance music radio station in Boston on 101.7FM, the former signal of alternative rock station WFNX. The news ends months of speculation about what Clear Channel would do with the frequency it purchased from the Phoenix Media/Communications Group in May for $14.5 million. The new station, Evolution 101.7 WHBA, will broadcast the same electronic dance music featured on Clear Channel’s iHeartRadio Internet station Evolution
Statement from Publisher Christopher Mayer naming Brian McGrory new Boston Globe editor Boston Globe Publisher Christopher Mayer released the following statement to staff announcing the selection of Brian McGrory as the news organization’s next editor.
Hungry Mother to open second eatery The owners of the popular
Cambridge Isotope Laboratories looks to expand with new lease in Tewksbury Cambridge Isotope Laboratories Inc., an Andover-based company that makes research biochemicals, is leasing 38,500 square feet of space at an office park in Tewksbury as it looks to expand its Massachusetts footprint, said a broker involved in the transaction. The broker is the commercial real estate firm Cushman & Wakefield. The firm said it represented BPG Properties Ltd. in the transaction. BPG is the landlord of the Highwood Office Park, a three building complex where Cambridge Isotope Laboratories, or CIL, plans to relocate some of its operations.
Parachute maker in Mass. warns of job cuts NEW BEDFORD — A New Bedford company that makes parachutes is warning it may have to cut some 360 jobs in February because of an expected drop in defense work. Kenneth Bello, a lawyer for Niche Inc., told the Standard Times of New Bedford that the company does not have enough new military contracts on the horizon to maintain its present level of employment. The nearly 30-year-old firm employed 950 people at its peak in 2011.
Medical robotics company Medrobotics completes $33.6m financing Medrobotics Corp., a Raynham-based medical robotics company, announced Thursday the conversion of notes totaling $33.6 million purchased through recent financings into Series D Preferred Stock. Existing Medrobotics shareholders and undisclosed new investors participated in the Series D raise. The company is developing what it calls the Flex Robotic System, which allows for minimally invasive surgery in hard-to-reach locations in the throat and voice box.
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.
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.
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