Wednesday, July 22, 2009

Daily Business Update from the Boston Globe

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Wednesday, July 22, 2009

Local clergy call for lower interest rates
By Sean Sposito, Globe Staff A group of clergy members led a protest outside of the Federal Reserve Bank of Boston and Bank of America's Boston headquarters this morning, calling for an end to the high cost of consumer borrowing....

MKS Instruments shares jump after 2Q results
Associated Press Shares of MKS Instruments Inc. jumped Wednesday after the Andover-based maker of analysis and processing equipment for semiconductor companies posted better-than-expected results for the second quarter. MKS lost $207.1 million, or $4.20 per share, weighed by impairment charges...

Panel nixes proposal to pay for electricity in advance
By Erin Ailworth, Globe Staff The state has shot down a provocative proposal from a utility company that wanted to test a system by which low income residents would pay in advance for the electricity they use. The Massachusetts Department...

Ritz offers value-added components
By Chris Reidy, Globe Staff The Ritz is a hotel brand name so synonymous with swankiness and elegance that it has inspired everyone from songwriters to cracker-makers, but "putting on the Ritz" no longer means blowing up the corporate expense...

Green Century discloses its carbon footprint
By Chris Reidy, Globe Staff Green Century Capital Management Inc., the Boston-based administrator of a family of "environmentally responsible mutual funds," announced the results of a carbon footprint analysis for its Green Century Balanced Fund. According to the company, the...

Institution for Savings' Welch will retire next year
By Chris Reidy, Globe Staff President and chief executive Mark F. Welch will retire from the Institution for Savings on July 1, 2010, after a 35-year career, the Newburyport-based mutual bank said. "Mr. Welch, who will turn 60 next year,...

Genzyme: Sanitization of Allston plant is complete
By Chris Reidy, Globe Staff Genzyme Corp. said today that it has now completed the sanitization of its Allston plant and that the plant is on-track to resume production this month. In a press release, Genzyme said there was a...

Have we got the smartphone apps for you
By Chris Reidy, Globe Staff Two local firms said separately that they are involved in newly launched smartphone apps, and whether you need a prompt to remember where you parked your car or you just want to goggle at some...

Many locals are falling behind on mortgages
By Chris Reidy, Globe Staff Massachusetts foreclosure petitions in June jumped to 2,835 - more than eight times higher than the 350 petitions in June 2008 and 21.7 percent higher than the 2,329 filings in May, said the Warren Group,...

IRS: Take advantage of new tax breaks
The American Recovery and Reinvestment Act has been referred to as a part of President Obama's economic stimulus plan, and it includes a number of tax breaks and incentives for the American people. To ensure that people are aware of...

Killingsworth: Quality equals affordability
By Chris Reidy, Globe Staff The latest TV ad in the "Quality Equals Affordability" campaign from Blue Cross and Blue Shield of Massachusetts is up and running. The campaign of TV, print, and radio ads debuted in late June and...

Report: Web 2.0 threats just a tweet away
By Chris Reidy, Globe Staff Information technology teams are "worried that employees share too much personal information via social networking sites, putting their corporate infrastructure ? and the sensitive data stored on it ? at risk, concludes a new report...

Innovation Economy's Kirsner blogs for Boston.com
Scott Kirsner's blog - the Innovation Economy - can now be read at Boston.com. The blog, which debuted two years ago at www.innoeco.com, covers breaking news and insights about local technology companies, venture capital firms, and the entrepreneurial scene in...

Today in Globe Business
Epix Pharmaceuticals is the latest biotech to fall Epix Pharmaceuticals Inc. has became the second Massachusetts biotechnology company in the past week to fold, raising fresh concerns about the health of the sector. The cash-starved Lexington company, which had been...

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