Daily Business Update

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Daily Business Update Thu. Jan. 31, 2013

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Iron Mountain unveils product that aims to help law firms manage their records Iron Mountain Inc., a Boston information storage company, said that it has developed a special product for law firms. The company is calling the new product the Total Offsite Records Solution. Many law firms are under pressure to control costs and improve client service, and the Total Offsite Records Solution was specifically developed to address such issues, in part by finding efficiencies through digitization. Greater Boston Chamber of Commerce unveils recommended corporate tax reforms The Greater Boston Chamber of Commerce said Thursday that the Bay State’s corporate tax code needs reforming so that Massachusetts can close the competitiveness gap with other states. Massachusetts, the chamber says, has the fifth highest corporate tax burden in the country. According to the chamber’s math, Massachusetts’ corporate tax burden is 0.54 percent as a percentage of private sector GDP --- 74 percent about the national average of 0.31 percent of GDP. Dunkin’ Donuts same-store sales in the US rose by 3.2 percent in the fourth-quarter Dunkin’ Brands Group Inc., the Canton-based parent of Dunkin’ Donuts and Baskin-Robbins, said fourth-quarter profit rose 196.2 percent to $34.3 million even as revenues declined by 4 percent to $161.7 million. One reason for the revenue decline was a quirk in the calendar --- the fourth-quarter of 2011 had one more week that the fourth-quarter of 2012, the company said. According to Dunkin’ Brands, fourth-quarter highlights included same-store sales growth of 3.2 percent for Dunkin’ Donuts restaurants in the United States. Dyax partners with company that will commercialze a Dyax drug in parts of Latin America Burlington-based Dyax Corp. said Thursday that it is partnering with a Colombian company that will develop and commercialize its hereditary angiodema treatment in such Latin American countries as Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela. The strategic partnership is with Novellus Biopharma AG of Bogota. Hereditary angioedema, or HAE, is a rare acute inflammatory condition characterized by episodes of severe, often painful swelling affecting the extremities, gastrointestinal tract, genitalia, and larynx. Thermo Fisher Scientific 4Q revenue rose 6 percent to a record $3.26b Thermo Fisher Scientific Inc., a Waltham company that supplies laboratory and scientific instruments, said Thursday that its adjusted earnings per share in the fourth quarter grew 14 percent to a record $1.36, as revenues increased 6 percent to a record $3.26 billion. New product launches and growth in China were among the reasons cited by the company for its performance in 2012. Report: Steward Health Care lost money in its first year of operations, but complied with conditions imposed by state Steward Health Care System lost money in its first year of operations but complied with conditions imposed by the state in 2010 when it recommended Steward be allowed to take over the six Caritas Christi Health Care hospitals, according to a report released Wednesday by the Massachusetts attorney general’s office. The 70-page report looks at the Boston-based chain’s compliance with its commitments, such as whether it retained employees, maintained services and made capital improvements at its community hospitals, as well as its market impact. Victims of meningitis outbreak unlikely to collect much money from compounding firm’s insurance Victims of the deadly fungal meningitis outbreak traced to a Framingham pharmacy aren’t likely to recover much money from the company’s insurance policies, a lawyer for the bankrupt firm said at a creditors meeting in Boston Wednesday. Daniel Cohn, a Boston attorney representing the New England Compounding Center, said he was reluctant to estimate how much the company hopes to receive from the policies to pay victims because the issue is complex and subject to negotiation. Connect with Boston.com

Daily Headlines | Boston.com Today

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Boston.com Today Jan. 31, 2013 Daily Headlines is now Boston.com Today. Continue receiving the latest headlines and get a fresh look at what's new on Boston.com.

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Today's headlines Cowan made his own way For Senate, Deval Patricks picks a confidant Poll: Markey, Brown in dead heat in hypothetical race Hopefuls face fierce fight to lead GOP 12/7: Scott Brown endorses Hughes to run state GOP How much does it cost to go to the Super Bowl? Elite or not, Flacco wins Singled out, Davis matured Long-spurned Blackberry poised to rise South End designer get Grammy nod Sports Well-adjusted Celtics roll Up-tempo style works for Celtics Source: Celtics never serious about Gay Kings’ Cousins tries to stay focused NBA: Anthony sets Knicks record in win Bruins’ Nathan Horton picking spots well NHL: Coyotes in limbo once again Golf: Singh drags tour into drug snarl NU hoops put down by Georgia State UMass basketball edges La Salle Features New trend: Suspension training High winds, showers for morning commute NY Times: Chinese hackers attacked paper Ron Jeremy in hospital after aneurysm TV: ‘Do No Harm’ has faulty, dated premise ‘How I Met Your Mother’ to end mystery Handyman on Call gets some joist advice Rebirth for Norwood Theatre Connect with Boston.com

Daily Business Update

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Daily Business Update Wed. Jan. 30, 2013

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Lexington’s 1366 Technologies opens solar wafer plant A solar technology firm on Wednesday opened Report says Steward Health Care lost money in its first year of operations, but complied with conditions imposed by state Steward Health Care System lost money in its first year of operations but complied with conditions imposed by the state in 2010 when it recommended Steward be allowed to take over the six Caritas Christi Health Care hospitals, according to a report released Wednesday by the Massachusetts attorney general’s office. The 70-page report looks at the Boston-based chain’s compliance with its commitments, such as whether it retained employees, maintained services and made capital improvements at its community hospitals, as well as its market impact. State repaid $3 million after A123 sale With the completion of A123 Systems’ sale to a Chinese auto parts conglomerate, Massachusetts has received a $3 million payment meant to cover part of a loan it had made to the Waltham battery firm, a state official said. The state gave $5 million to Waltham battery maker in 2010 to help the company expand its operations for making large, grid-scale batteries, and to create 250 jobs Suffolk Construction is opening an office outside of New York City Suffolk Construction, a Boston-based company with $2 billion in annual revenues, said it has hired industry veteran Mark Sanborn to open a new office near New York City. Besides Boston, the firm has offices in Florida, California, and suburban Washington, D.C. Its corporate headcount is about 1,100 employees. Suffolk Construction specialities include building facilities in the technology, health care, and higher education industries, and those sectors are flourishing in and around New York City. Brand Bowl is back on Boston.com Back for the fourth year in a row, Brand Bowl keeps score of what everyone’s really concerned with during the Super Bowl – the ads. The project was developed in 2010 by Mullen and Radian 6, and now, Boston.com is setting out with Pointslocal to bring the internet a way to finally settle the debate about which is funnier: VW or Doritos. Ice cream chain Baskin-Robbins looks to triple its presence in China Baskin-Robbins, the sister chain of Dunkin’ Donuts, said Wednesday that it has signed franchise agreements that are projected to triple its presence in China. Canton-based Baskin-Robbins currently operates nearly 7,000 ice cream shops in about 50 countries. In a Wednesday press release, the chain said it has signed franchise agreements that are projected to open 249 additional Baskin-Robbins shops across China over the next decade. Mass. economy still outpacing US The Massachusetts economy grew slightly faster than the nation as a whole at the end of last year, continuing a modest expansion despite the economic crisis in Europe and political crisis in Washington, the University of Massachusetts reported Wednesday. In the the last three months of the year, Massachusetts economy grew at a 1 percent annual rate compared to a slight contraction in the US economy, due largely to a pullback in government spending as federal agencies awaited the outcome of the so-called fiscal cliff debate. Connect with Boston.com

Daily Headlines | Boston.com Today

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Boston.com Today Jan. 30, 2013 Daily Headlines is now Boston.com Today. Continue receiving the latest headlines and get a fresh look at what's new on Boston.com.

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Today's headlines New gun control worries prompt boost in sales Restart of Filene’s project on the horizon How much does it cost to go to the Super Bowl? Super Bowls ads selling for more than $4 million American Airlines pulls back at Logan No place like home for family dinners Organization is key to planning family meals Sports Bruins bite late Bruins’ Hamilton drawing big comparisons Goalie Tuukka Rask saved by patience NHL: Rangers tip Flyers; Habs soaring Raven’s Pees won’t gloat over AFC win Randy Moss still receiving attention NFL health research study lauded Palpable absence at Celtics’ practice MLB: A-Rod implicated for PEDs BC hoops can’t handle Tar Heels Connect with Boston.com

Daily Business Update

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Daily Business Update Tue. Jan. 29, 2013

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MassHousing closes $1.9m for 24 affordable housing units in Tyngsborough MassHousing, the state’s affordable housing bank, said that it has closed on $1.9 million in loans for 24 newly constructed affordable units at the Maple Ridge Apartments in Tyngsborough, bringing to 96 the number of affordable apartments at the location. Dakota Partners Inc. of Waltham developed Maple Ridge on the site of a vacant lot. The architect was LaFreniere Architects of Cambridge, and the management agent is WinnResidential of Boston. Feds approve A123 purchase by Chinese firm A Chinese company said Tuesday it has won approval from a federal panel to acquire nearly all the assets of Waltham battery maker A123 Systems Inc., removing the biggest hurdle to closing the deal. Wanxiang America Corp. said it was notified Monday that the Committee on Foreign Investment in the United States, or CFIUS, had approved its purchase of A123. CFIUS is a secretive federal panel that scrutinizes foreign acquisitions of American businesses to protect national security. Massachusetts Life Sciences Center hails commercial launch of a new surgical gel The Massachusetts Life Sciences Center said it is marking the commercial launch of a product developed by a small local company that was a recipient of an investment from the center’s Accelerator Loan Program. The center is a quasi-public agency of the Commonwealth of Massachusetts that supports local companies in the industry. About four years ago, the center gave a loan to a company called Pluromed, which was working on a biopolymer gel that allows surgeons to temporarily stop blood flow during surgery. State Street Investor Confidence Index rises 5.4 points in January The State Street Investor Confidence Index posted an 86.8 reading in January, up from a revised reading of 81.4 in December, State Street Global Markets said Tuesday. The index seeks to measure investor confidence or risk appetite quantitatively by analyzing the actual buying and selling patterns of institutional investors. Boston Scientific plans job cuts, 4Q profit falls Boston Scientific plans to cut as many as 1,000 additional jobs this year as the medical device maker expands a push to reduce operating expenses. The Natick company hasn’t decided where additional cuts will be made, said spokesman Steven Campanini. Boston Scientific Corp. had already planned 1,200 to 1,400 job cuts as part of a restructuring plan that started in 2011. It employs roughly 24,000 people worldwide, so total cuts could amount to 10 percent of the company’s jobs. Ambitious European power project to use AMSC high-temp superconductor wire AMSC, a Devens technology company that makes components for wind energy and power grid companies, said Tuesday that it is supplying high temperature superconductor wire for an ambitious project in Germany that seeks better ways to distribute electricity in major cities. The project in Essen, Germany, is called AmpaCity, and it looks to replace the existing distribution system with new technology. Plans call for AMSC’s wire to be used in a surge protector needed to connect the new system to the power grid. Fifth Johnny Rockets restaurant opens in Massachusetts Johnny Rockets, a chain that celebrates hamburger cuisine, said it has opened a restaurant in Acton. The California-based chain said it now has five restaurants in Massachusetts, including locations at Burlington Mall, Logan International Airport, Six Flags New England, and South Shore Plaza. Worldwide, there are nearly 300 Johnny Rockets restaurants, and several cruise ships feature a Johnny Rockets on board. Connect with Boston.com

Daily Headlines | Boston.com Today

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Today's headlines Harvard, NFL players partner on $100m health study Seau’s family sues NFL over brain injuries Researchers link concussions, brain damage NFL commissioner pushes ‘culture of change’ Author’s ex-aide says gifts masked For novelist, the twists were all too real ‘Southie Rules’ has characters, not story ‘Southie Rules’ ad Menino to unveil Harvard, MIT initiative Menino faces test during State of the City address Sports Bruins weather Hurricanes Bruins’ rookie Hamilton here to stay Johnson’s first NHL shutout lifts Phoenix Gasol, Gay drive Grizzlies past 76ers Kansas men’s basketball extends streak Youth not serving UNC’s Williams well Experience the big key for Ravens Niners out to stake a claim Goodell sees progress on the Pro Bowl Woods wins at Torrey Pines for 8th time Connect with Boston.com

Daily Business Update

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Daily Business Update Mon. Jan. 28, 2013

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Ocular Therapeutix: $23.8m in new funding will help advance eye therapies Ocular Therapeutix Inc., a Bedford company looking to use is proprietary hydrogel technology to commercialize treatments for eye ailments, said Monday that it recently closed a Series D extension round of financing totaling $23.8 million. All existing institutional investors, including Polaris Ventures, Versant Ventures, SV Life Sciences, Sparta LLC, and Ascension Health Ventures participated in the round. One product the company is working on is is called ReSure Sealant, which would be used to seal clear corneal incisions following lens implantation surgery. Deadline looms in The Globe’s search for the most innovative people in Massachusetts Time is running out. The Boston Globe is seeking the most innovative people in Massachusetts -- individuals who did the most in the past year to transform a business or their community. Their achievements could range from introducing a new product that changed the way people work or play, to launching a new effort that became a runaway success. Medical marijuana trade group set to debut in Massachusetts A trade group for the state’s medical marijuana business is being started this week by industry consultants, lawyers, public relations officials, patients, and business leaders. Japan Airlines cancels several more trips between Boston and Tokyo Japan Airlines has canceled several more trips between Boston and Tokyo to compensate for the grounded Boeing 787 Dreamliner. The carrier axed service on Feb 9-10 and Feb. 15-16, in addition to previously announced cancellations on Jan. 30 and Feb. 2-3. The worldwide fleet of 787s was grounded by aviation authorities earlier this month after several battery fires, including one at Logan International Airport. As a result, fewer JAL airplanes are available for service. Massachusetts gas prices are up 4 cents a gallon, AAA Southern New England says The average price for gas in Massachusetts is $3.459 a gallon in the latest AAA weekly survey, up 4 cents from the previous week’s average, AAA Southern New England said Monday. Local prices locally are up 4 cents over the past month, AAA Southern New England added. The current national average for gas prices is $3.34 a gallon, according to AAA. A year ago at this time, the Massachusetts average price was $3.47. Augmenix tissue-marking product for surgeries gets FDA clearance Augmenix Inc., a Waltham company focused on the development and commercialization of radiation oncology products using its proprietary hydrogel technology, said Monday that it has received clearance from the US Food and Drug Administration to market an absorbable tissue marker visible that helps medical personnel to plan surgical procedures. The product is called TraceIT Tissue Marker, and it is designed to “radiographically mark soft tissue during a surgical procedure or for future surgical procedures.” Global Partners to acquire Oregon crude oil and ethanol facility Global Partners LP, a Waltham company that owns, controls, or has access to one of the largest terminal networks of refined petroleum products and renewable fuels in the Northeast, said Monday that it has agreed to a $95 million deal that will add an Oregon crude oil and ethanol facility to its network. The transaction includes a rail transloading facility serviced by the BNSF Railway, 200,000 barrels of storage capacity, a deepwater marine terminal, a 1,200-foot dock, and the largest ethanol plant on the West Coast Connect with Boston.com