Tuesday, July 21, 2009

Daily Business Update from the Boston Globe

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Tuesday, July 21, 2009

Wind power company gets $191m in financing
Associated Press A Newton-based developer of wind power projects says it has secured $191 million in financing. First Wind said in a press release that it received an 8 1/2 year, $115 million loan from the Alberta Investment Management Corporation,...

TOUS touts new Mall at Chestnut Hill store
By Chris Reidy, Globe Staff TOUS, an international fine jewelry brand, said it recently launched its newest boutique at the Mall at Chestnut Hill. The chain said the store marks the brand?s entrance into the Greater Boston retail market as...

New rules for gas station signs are ready to go
By Chris Reidy, Globe Staff The Massachusetts Division of Standards said that new regulations are about to go into effect that seek to make clear the specific type of gasoline that local consumers are purchasing. Set to go into effect...

Freddie Mac names new top executive
Associated Press Charles E. Haldeman Jr., a former mutual fund executive , will take the helm of Freddie Mac next month, the mortgage finance company said Tuesday. Three weeks ago, Haldeman, 60, stepped down as chairman of mutual fund company...

Boston Scientific says heart study to expand market
Reuters Boston Scientific Corp., the Natick-based maker of medical devices, said that a landmark study of cardiac resynchronization therapy in early-stage heart failure patients could greatly boost the market for the implanted devices. The MADIT-CRT study, which is sponsored by...

Who, What, Where
Francis J. Lunger is a new operating partner at Linden LLC, a Chicago-based private equity firm focused on middle market healthcare leveraged buyout investments. Lunger most recently served as chief executive of Millipore Corp., a Billerica company that provides technologies,...

Epix Pharmaceuticals is winding down
By Chris Reidy, Globe Staff Cash-strapped Epix Pharmaceuticals Inc. said it is winding down operations and looking to proceed to "an orderly liquidation of its assets" after attempts to obtain additional financing were unsuccessful. Epix, which is based in Lexington...

Attleboro apartment complex is sold
By Chris Reidy, Globe Staff Crystal Village, a 91-unit apartment community located in Attleboro, has been sold for $9 million to Village Residential LLC, a private Massachusetts-based investor, a broker involved in the transaction said. The broker is the New...

Survey: Mass. adults are wary about doctor's advice
By Chris Reidy, Globe Staff Only 24 percent of Massachusetts doctors "trust their doctor completely to make the right decisions in terms of where they should go to receive medical care," said Boston ad agency Partners+Simons. Partners+Simons, whose clients include...

Devens firm gets $12m from Department of Energy
By Chris Reidy, Globe Staff American Superconductor Corp., a Devens energy technologies company, said that the US Department of Energy has provided it with more than $12 million in funding to help complete several superconductor smart grid projects. The funding...

Belden to close Leominster plant; 170 jobs affected
Associated Press Belden Inc., a Missouri company that makes electronics components, said in a press release that it plans to stop production at a Massachusetts manufacturing plant by July 2010. The Leominster facility makes wire and cable products for enterprise...

State Street posts loss after big charge
Reuters State Street Corp., one of the world's biggest institutional investors, posted a loss in quarterly earnings after taking a multibillion-dollar charge and as fees for managing and administering assets declined amid the financial crisis. The Boston-based company reported a...

Forrester: Online population will be 2.2b by 2013
By Chris Reidy, Globe Staff The number of people online around the world will grow by roughly 45 percent to 2.2 billion users over the next five years, says a new report by Forrester Research Inc., a Cambridge research firm....

Acquia secures $8 million in financing
By Chris Reidy, Globe Staff Acquia Inc. said that it has secured $8 million in a Series B financing round from North Bridge Venture Partners and Sigma Partners, two venture capital firms with offices in Boston. Headquartered in Andover, Acquia...

Mass. gets federal dollars for renewable energy
By Chris Reidy, Globe Staff The US Department of Energy said it has allocated nearly $22 million in funding to support energy efficiency and renewable energy projects in Massachusetts. The funding is a result of the American Recovery and Reinvestment...

Archemix and Dicerna will collaborate on R&D
By Chris Reidy, Globe Staff Two local life sciences companies said they are teaming up to collaborate on some research-and-development work. The companies are Archemix Corp., a Cambridge company focused on commercializing aptamer therapeutics, and Dicerna Pharmaceuticals Inc., a Watertown...

Today in Globe Business
Jobless won't lose extended benefits Massachusetts officials, realizing that up to 85,000 jobless residents would soon exhaust their federal unemployment benefits, engineered a last-minute change in state law that ensures that the payments keep flowing. The change, which alters the...

Monday, July 20, 2009

Memo from guild president Daniel B. Totten
Boston Newspaper Guild members have spoken and,after careful consideration,voted to accept the tentative agreement put forward by The New York Times. All of our members spent a great deal of time reviewing and discussing the tentative agreement and we respect...

Memo from publisher P. Steven Ainsley
Dear Colleagues: I am pleased the Guild membership voted to ratify their new contract. I appreciate the personal sacrifices all Guild members are making, and I thank each one for their commitment to this institution. The ratification strengthens the stability...

Globe union overwhelmingly OK's pay, other cuts
The Boston Globe?s largest union overwhelmingly approved a package of $10 million in wage and benefit cuts tonight, ending more than three months of tense bargaining and brinksmanship. The Boston Newspaper Guild, which represents nearly 700 editorial, advertising and business...

City tells developer he must wait for new rules
By Casey Ross, Globe Staff The developer who wants to replace the Harbor Garage with a pair of skyscrapers will not be able to build until after the city adopts new guidelines for waterfront development, Boston officials said today. The...

Two partners plan to leave law firm
By Beth Healy, Globe Staff Lee C. Bromberg is leaving the downtown Boston law firm he cofounded 30 years ago because he couldn?t convince his colleagues to merge with a larger firm, according to a letter dated today. Bromberg and...

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