Wednesday, May 27, 2009

Daily Business Update from the Boston Globe

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Wednesday, May 27, 2009

Schilling's 38 Studios makes an acquisition
38 Studios LLC, the Maynard company founded by former Red Sox pitcher Curt Schilling, said it has acquired Big Huge Games from publisher THQ Inc. Financial terms of the agreement were not disclosed. 38 Studios seeks to become a...

Geithner unveils tax credits at Roxbury event
US Treasury Secretary Timothy Geithner is in the city today, where he announced the awarding of $1.5 billion in tax credits for 32 organizations nationwide in a program meant to stimulate economic growth and create jobs. The program, funded...

Who, What, Where
Liam Patrick was named managing director of Fireman Capital Partners, or FCP, a private equity firm based in Boston. Patrick will be responsible for merger-and-acquistions and investor relations activities for FCP and its investment vehicles. Prior to joining FCP, Patrick...

Staples profit falls 33 percent in 1st quarter
Office products retailer Staples Inc. said its profit fell 33 percent in the first quarter as higher operating expenses and one-time costs more than outweighed the benefit of a newly purchased supply chain business. The world's largest office supply...

Agios Pharmaceuticals appoints leadership team
Agios Pharmaceuticals said that David Schenkein, M.D., will join the Cambridge company as chief executive in August. Duncan Higgons will join the company as chief operating officer, Agios said in a press release. Agios said that its vision is...

Mzinga will moderate NESN blogs
Mzinga said it has been hired to moderate the online community blogs of New England Sports Network, or NESN. Headquartered in Burlington, Mzinga is focused on providing on-demand social software solutions for marketing and customer support. "Mzinga's moderation team...

Verizon extends reach of Internet service
Verizon Communications Inc. said that it is high-speed Internet service is now available to 23,000 additional Massachusetts households. Those households are in Carver, Easthampton, Orange, Scituate, and parts of the South End neighborhood of Boston, said Verizon, which added that...

Boston Scientific says FDA approved small stent
Boston Scientific Corp., the Natick medical device maker, said the Food and Drug Administration approved the Taxus Liberte Atom, a drug-coated stent designed to hold open small blood vessels in the heart. Boston Scientific said Taxus Liberte Atom was approved...

Evergreen Solar unveils new brand campaign
Evergreen Solar Inc., a Marlborough company that manufactures solar power products, said it will roll out a new brand campaign with the theme of "More Electricity, Less Impact." The campaign will debut at Intersolar, a trade show now underway in...

American Superconductor expands business in India
American Superconductor Corp., a Devens company specializing in energy technologies, said that its AMSC Windtec subsidiary has licensed a proprietary wind turbine design to a unit of the Inox Group of Cos., which owns and operates wind farms in...

Biogen Idec marks World MS Day
Biogen Idec Inc. said it has joined the global multiple sclerosis community in recognizing the first World MS Day. Biogen Idec said it will mark the day by supporting events and activities in more than a dozen countries. The...

Today in Globe Business
Home prices, sales plunge in the Bay State The spring real estate market in Massachusetts so far is looking like a bust. The number of homes and condominiums that sold in April plummeted and prices dropped as well, as the...

Tuesday, May 26, 2009

Two Globe unions ratify contracts
The unions representing Boston Globe mailers and press operators narrowly approved a contracts that will cut their pay and benefits by more than a combined $7 million, bringing the Globe's owner, The New York Times Co., closer to achieving the...

Progressive agrees to pay Mass. fine
Progressive Direct Insurance Co., which has long compared its rates to competitors, agreed to pay the state $120,000 to settle charges that it inflated the rates for rival companies, Massachusetts Attorney General Martha Coakley announced today. Specifically, Coakley's office accused...

Raytheon gets contract for Navy jet radar retrofit
Defense contractor Raytheon Co. said that the Navy has awarded it a $54 million contract to install new advanced radar equipment in existing F/A-18 fighter jets. The Waltham-based company said the contract calls for APG-79 radars to be installed to...

Local is a winner of Upromise video contest
Sarah Tollerson, a sometime street musician who sings at MBTA stops about how tough it can be to pay back student loans, is one of three grand-prize winners in the Tuition Tales video contest. The contest, which awarded $10,000...

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