Tuesday, September 22, 2009

Daily Business Update from the Boston Globe

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Tuesday, September 22, 2009

MassHousing commits loan to Marion project
MassHousing, the state's affordable housing bank, said it will loan up to $875,000 to an affiliate of EA Fish Cos. for the expansion of senior housing at Little Neck Village in Marion from 12 to 48 affordable apartments. "The developer...

United Way, SPIN open family center in Lynn
United Way Massachusetts Bay and Merrimack Valley and Serving People in Need Inc., or SPIN, said they are launching a center at 270 Union St. in Lynn to help "families move beyond safety nets and achieve financial stability," and United...

HUD OK's $69.7m in loan guarantees for the Hub
The US Department of Housing and Urban Development said it is approving a $69.7 million loan guarantee to the city of Boston that will create a revolving loan pool that aims to kick-start stalled real estate development projects and stimulate...

Facet responds to Biogen Idec's tender offer
The board of directors of Facet Biotech Corp. recommended in a press release that company stockholders take no immediate action in response to Biogen Idec Inc.'s unsolicited conditional tender offer to acquire all of Facet Biotech's outstanding shares of common...

FDA is set to review Exalgo
CombinatoRx Inc. and Neuromed Pharmaceuticals Inc. said that the Food and Drug Administration has indicated that some of its committees will "review and discuss" Neuromed?s new drug application for a potential pain-killing drug called Exalgo. The US rights to Exalgo...

Progress Software 3Q profit falls 56 percent
Associated Press Progress Software Corp. said fiscal third-quarter profit fell 56 percent on a drop in software license revenue. For the quarter ended Aug. 31, Bedford-based Progress earned $5.5 million, or 13 cents per share, down from $12.5 million, or...

America's team runs on Dunkin'
(File photo of Dallas QB Tony Romo: Gene J. Puskar/AP) By Chris Reidy, Globe Staff Here's news that might make a Patriots fan want to switch to Starbucks - or even organic green tea. Dunkin' Donuts said today it...

Protonex gets $2 million Army contract
Protonex Technology Corp. said that it has received a $2 million contract award from the US Army to build, test, and deliver solid oxide fuel cell power systems. The Southborough company develops and manufactures compact, high- performance fuel cell systems...

Staples school supply drive raises over $750k
Staples Inc., the Framingham-based retailer of office supplies said that its national school supply drive raised more than $630,000 in customer cash donations. "Combined with the company's $125,000 contribution of school supplies, Staples customers also donated thousands of items...

Elderhostel does some rebranding
Exploritas is the new name for the programs of Elderhostel Inc., a Boston-based not-for-profit organization that seeks to provide lifelong learning and travel opportunities for adults. "The old name Elderhostel presented a barrier to younger audiences, yet the (organization's)...

R&L Associates taps Strategis
Strategis, a marketing communications firm in Stoughton, said it has been named the agency of record for R&L Associates, a staffing firm headquartered in Beverly. Billings of the account were not disclosed. Plans call for Strategis to work with R&L...

BJ's names Babson College president to board
Associated Press BJ's Wholesale Club Inc., the Natick retailer, said it has named the president of Massachusetts' Babson College to its board of directors. Leonard A. Schlesinger is an ex-chief operating officer of clothing retailer Limited Brands, where he oversaw...

Foreclosure petitions drop from July to August
Lenders continued to start foreclosure proceedings against Massachusetts home owners in August, but at a slower rate than in July when the number approached historic highs, the Warren Group said this morning. And the number of home owners who actually...

Today in Globe Business
WGBH bids for stronger presence in pubic radio Boston public broadcaster WGBH made a bid yesterday to buy classical radio station WCRB, a move that could directly challenge rival Boston public radio station WBUR. Boston public TV and radio giant...

Monday, September 21, 2009

Hyatt to help laid off workers find jobs and extend benefits
By Katie Johnston Chase, Globe Staff Hyatt Hotels & Resorts is creating a task force to assist the 98 housekeepers who were fired from the three Boston-area Hyatt hotels last month, according to a statement the company released yesterday. The...

Boston Scientific unveils updated imaging software
Associated Press Boston Scientific Corp., the Natick-based medical device maker, said it released an updated version of an ultrasound-imaging software designed to provide physicians with a more-detailed view of diseased heart and coronary arteries. The maker of stents said the...

WGBH will buy classical radio station WCRB
By Megan Woolhouse, Globe Staff Public TV and radio giant WGBH will buy one of the country's few remaining 24-hour commercial classical radio stations, WCRB 99.5 FM, station officials said today. WGBH officials would not disclose the price, saying that...

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