Friday, August 21, 2009

Daily Business Update from the Boston Globe

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Friday, August 21, 2009

American Dental finishes refinancing, stock offer
Associated Press WAKEFIELD - American Dental Partners Inc., a provider of business services to dental group practices, said it refinanced $130 million in credit agreements, and completed a stock sale that raised $25.3 million. The company announced the plan to...

Unemployment in RI rises to 12.7 percent for July
Associated Press The unemployment rate in Rhode Island rose to 12.7 percent in July even as the national jobless rate declined. A state survey released Friday showed that unemployment in Rhode Island crept up 0.3 of a percentage points since...

New Watertown shop aims to be a mecca for brides
By Chris Reidy, Globe Staff The recession has ravaged retirement savings plans and vacation budgets, but has it taken a toll on romance too? That's probably an open question - one suitable perhaps for an Oprah chin-wag - but one...

Raytheon unit receives contract for radar systems
Associated Press A unit of Raytheon Co., the Waltham-based defense contractor, received a $6.5 million contract from the Navy for production of two fixed base, precision radar systems as a result of two base closures, the Pentagon said. The need...

Three leases are signed for One Washington
By Chris Reidy, Globe Staff Owners Saracen Properties and AEW Capital Management have completed three lease transactions for a combined 12,590 square feet of space at One Washington, a Boston office building, Jones Lang LaSalle said. Jones Lang LaSalle,...

RXi said its CFO is resigning
By Chris Reidy, Globe Staff RXi Pharmaceuticals Corp. said that Stephen J. DiPalma is resigning as executive vice president of business operations and chief financial officer to "pursue other opportunities." The Worcester-based company said in a press release that it...

Mass. hospital group to shed 93 jobs
Associated Press NEW BEDFORD -- Southcoast Hospitals Group is shedding 93 jobs and freezing pay in anticipation of a $19 million cutback in state and federal Medicaid and Medicare reimbursements in the coming fiscal year. President and chief executive Keith...

Fidelity: Optimism helps retirement readiness
By Chris Reidy, Globe Staff It would seem that a pessimist might be motivated to plan carefully for retirement. Nervous about the solvency of Social Security, and distrustful about the company pension plan - or lack thereof - the pessimist...

Miltons, Joseph Abboud plan special sale
By Chris Reidy, Globe Staff Miltons ? The Store for Men - said it is teaming up with the Joseph Abboud lifestyle brand to offer a sale that will not only benefit their businesses but help cancer research and the...

Report: Foreclosures rise in Connecticut
Associated Press A new report says mortgage problems in Connecticut are the worst they've been in at least 30 years, with one of every 17 mortgages either in foreclosure or 90 days overdue at the end of June. The report...

Today in Globe Business
Hey, dude, where's my bus? Moira O?Neil hates waiting on the street corner for a bus. Instead, she sits at home, sipping coffee until just before it arrives at her stop. She doesn?t worry about missing the bus; her cellphone...

Thursday, August 20, 2009

JetBlue halts all-you-can-fly sale
By Paul S. Makishima, Globe Staff All things must end. Citing heavy demand, JetBlue stopped its all-you-can-fly offer nearly two days before it was set to expire. Last Wednesday, the discount carrier launched the deal, which allowed travelers to fly...

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