Monday, December 31, 2012

Daily Business Update

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Daily Business Update


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Mon. Dec. 31, 2012

DOR says it will miss deadline to release annual film tax credit report

For the second time in three years, the Department of Revenue has missed a statutory deadline to produce a report on the controversial film tax credit program. Agency spokeswoman Ann Dufresne said the report - which by law was required to be released by December 31 -- was still being reviewed Monday.

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Upper Crust workers’ lawyer raising funds to buy four more stores

The lawyer representing former Upper Crust employees who is turning the bankrupt pizza chain’s former Harvard Square location into a worker-owned store is spearheading a fundraising effort to turn four more Upper Crust restaurants into worker-owned stores.

Extended unemployment benefits go over ‘cliff’

Federal unemployment benefits for people unemployed more than 27 weeks expired Saturday, cutting off an estimated 45,000 Massachusetts residents as negotiations over the so-called fiscal cliff stalled. Those affected are mostly the long-term unemployed, who will file their final claim this week. About 2 million people nationwide are expected to lose benefits, according to the National Employment Law Project.

Safelite declines to comment on talks to buy Giant Glass

Safelite Group, the country’s largest providers of vehicle glass repair services, declined to comment Monday on possible negotiations to buy a prominent competitor in Massachusetts, Giant Glass Co.

Cumberland Farms to give away free coffee starting at 5 pm until 5 am January 1

Free lunch may be hard to come by, but free coffee is not. Starting at 5 pm today and until 5 am on Tuesday, Cumberland Farms will be giving away free coffee at its stores. Customers will be treated to a complimentary cup of Farmhouse Blend, iced or hot. It’s the sixth year in a row the company has offered this freebie.

Gallon of gas in Massachusetts up by a penny to $3.41 a gallon, 12 cents above the national average

The cost of a gallon of gas in Massachusetts has inched up by a penny in the past week.

Top Massachusetts business stories of the year, as voted on by our readers

Readers have spoken, and by an overwhelming margin the biggest local business story of 2012 was NStar’s merger with Northeast Utilities that also included an agreement to buy power from the controversial Cape Wind project. Here are the others that rounded up the top five:

Purchase by pizza chain founder is delayed

The judge in the Upper Crust pizza bankruptcy case on Friday approved a purchase of four of the chain’s stores by an investment firm with ties to the restaurant group’s founder, but gave plaintiffs who objected to the sale until Jan. 7 to seek a ruling from the Superior Court on whether the transaction would violate an order barring Jordan Tobins from transferring his assets.

Federal investigators probe HP’s Autonomy division

Federal investigators are looking into allegations of accounting fraud at Autonomy, a British software company with offices in the Boston area

Steinway won’t sell band instrument division

Steinway Musical Instruments Inc. has decided not to sell its band instrument division, the Waltham manufacturer announced this week.

Tentative deal averts strike at East Coast ports

A threatened strike by dock workers Sunday that would have closed much of the port of Boston and other major shipping outlets along the east coast has been averted after the Longshoremen’s union reach a tentative deal with maritime operators. A federal mediator announced Friday the two parties had reached an agreement in principle over royalty payments for handling container cargo at the ports and that the deadline for a strike has been moved back 30 days, to January 28, 2012.

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