Tuesday, May 28, 2013

Daily Business Update

 
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EDITORIAL EMAIL PUBLISHED BY   Boston.com
Daily Business Update Tue. May. 28, 2013
 
Survey: Many businesses not ready for a disaster
Natural disasters are the top safety concern among office employees, yet 60 percent of businesses said recent disasters, including Hurricane Sandy, haven’t led them to reassess their safety plans, according to Framingham-based Staples’ second annual workplace safety survey. The survey was released today in advance of month which begins June 1.
Cape Cod Biofuels signs new distribution partnership
Cape Cod Biofuels, a company that converts used cooking oil into biofuel, announced a new partnership with an oil distributer Monday.
Aveo Pharmaceuticals suffers new setback as Japanese partner backs away from plan to seek European approval of Aveo’s kidney cancer drug
Aveo Pharmaceuticals Inc., already reeling from an advisory panel recommendation early this month that US regulators reject its kidney cancer drug, has suffered a new setback.
Arnold Worldwide, Mullen, Gillette win Effie awards for effective marketing
Two ad agencies and a brand with local ties were among those honored at this week’s ceremony for the annual Effie Awards, which salute effective marketing campaigns. Gold, silver, and bronze awards are given out in multiple categories. In the good works/nonprofit category, Boston ad agency Arnold Worldwide won a Gold Effie for its “Tips from Former Smokers” campaign on behalf of client US Centers for Disease Control and Prevention. In the travel/tourism/destination category, Boston ad agency Mullen won a Silver Effie for its work for client JetBlue Airways. Gillette, the Boston-based grooming brand that’s now part of Procter & Gamble, won a Bronze Effie for its “How Gillette Embraced Facial Hair to Build its Business” efforts. The lead ad agency on this campaign is BBDO New York.
Sheraton Framingham Hotel & Conference Center is getting a 40th anniversary renovation
The Sheraton Framingham Hotel & Conference Center, a hotel with a castle-like silhouette that is located near the Massachusetts Turnpike, is getting an $8 million renovation just in time for its 40th birthday. “A soothing color palate of blue and grey” will grace the new lobby, guest corridors, and general public space, according to Hager and Associates Inc., the interior design firm working on the project. The grand ballroom is receiving updated touches of soft greys and neutrals; with 18-foot-high ceilings, it offers the most expansive dance floor in the region. The renovations should be finished within the next few weeks. “The improved design will embrace the favorite, traditional elements of the castle-inspired hotel while incorporating modern features that create a functional and contemporary environment,” Doris Hager of Hager and Associates said.
Chilly weather pressures Destination XL in 1Q
Destination XL Group Inc.’s fiscal first-quarter net income dropped 57 percent as the men’s clothing and accessories company contended with a chilly spring and higher expenses. President and chief executive David Levin said in a statement on Friday that while sales were weak in February and March, that was somewhat offset by better results in April when the weather started to warm up. The Canton company earned $1 million, or 2 cents per share, for the three months ended May 4. A year earlier it earned $2.3 million, or 5 cents per share. Revenue fell 2 percent to $93.6 million from $95.5 million. Revenue at stores open at least a year, a key indicator of a retailer’s health, dipped 0.5 percent.
China’s Supreme People’s Court to hear AMSC cases against Chinese wind turbine maker
AMSC, a Devens technology company in the wind energy and power grid industry, said Friday that China’s Supreme People’s Court has scheduled a hearing for May 29 to review the jurisdiction of AMSC’s software copyright infringement cases against Sinovel Wind Group Co. Ltd. Sinoval, a large Chinese company that makes wind turbines, was once AMSC’s biggest customer. Then Sinoval stopped accepting shipments from AMSC. In 2011, AMSC filed several lawsuits against Sinoval in China, alleging contractual breaches and intellectual property theft and seeking more than $1.2 billion in damages and payments. “President Xi Jinping recently said that China will protect legitimate rights of foreign enterprises,” AMSC general counsel John Powell said. “AMSC’s cases against Sinovel are the perfect litmus test for whether statements like these are rhetoric or reality.”
 
 

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