Thursday, October 29, 2009

Daily Business Update from the Boston Globe

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Thursday, October 29, 2009

Cabot Creamery gears up for Open Farm Sunday
The Cabot Creamery Cooperative has scheduled an Open Farm Sunday for Nov. 1 as part of an effort to alert locavores that its cheddar cheese and other dairy products have strong New England roots. "Visitors will experience the family traditions...

Curis shrinks 3Q loss as partnership revenue rises
Associated Press Cancer drug developer Curis Inc. posted a narrower third-quarter loss Thursday due to greater revenue from partnerships. Cambridge-based Curis said it lost $4 million, or 6 cents per share, compared with a loss of $4.6 million, or 7...

JetBlue is expanding Logan service
JetBlue Airways said it is expanding its service at Logan International Airport, a move that it said will boost daily departures by 30 percent by the summer. "With its expanded schedule, JetBlue and its growing base of 1,300 Boston crew...

Holland-Mark gets assignment from Myca Health
Boston ad agency Holland-Mark said it has been hired by Myca Health of Canada to launch its primary-care practice model in the United States. The model is called "Hello Health," and Holland-Mark described it as a "customizable Web-based platform that...

Wall Street Journal will close Boston bureau
By Johnny Diaz, Globe Staff The Wall Street Journal is closing its Boston bureau by the end of the year, officials told employees today in a memo. The bureau, which is in downtown Boston, has 12 reporters and editors. The...

Massachusetts economy is shrinking
By Robert Gavin, Globe Staff The Massachusetts economy shrunk for the third consecutive quarter as rising unemployment and weak consumer spending undermined what earlier seemed to a be a recovery in the making, the University of Massachusetts reported today. The...

Partial settlement reached in Mont. Ponzi scheme
Associated Press HELENA, Mont. -- A Boston-based investment firm has agreed to pay $1.3 million in restitution to Montana investors for a Ponzi scheme run by an independent broker in Kalispell. Monica Lindeen, state commissioner of securities and insurance, announced...

AMAG 3Q loss narrows on anemia drug sales
Associated Press AMAG Pharmaceuticals Inc., a Cambridge biotechnology company, said today that its third-quarter loss narrowed on higher sales of the anemia drug Feraheme. The company lost of $22.1 million, or $1.29 per share, compared with a loss of $23.6...

Virdante said it's raised $48m since early 2008
Virdante Pharmaceuticals, a Cambridge company developing drugs for autoimmune and inflammatory diseases, said that new funding it has received brings the amount of Series A funding it began raising in January 2008 to $47.75 million. In a press release, Virdante...

Patriots, Revolution ink sponsorship deal
Quick, name the official insurance broker of the New England Patriots. Hint: The same company is also the official insurance broker of the Red Sox. As of now, the correct answer is USI New England, an insurance broker headquartered in...

Red Sox star plumps free Black Jack tacos
(In 2007, Ellsbury greets some Taco Bell customers. Photo: Pat Greenhouse/Globe Staff) Trick or treat? Can we expect some Halloween cheer from Jacoby Ellsbury? The Taco Bell fast-food chain has scheduled a World Series/Halloween giveaway for Oct. 31 -...

Cabot reported 4Q loss on restructuring
Associated Press Specialty chemicals maker Cabot Corp. said Wednesday it posted a fiscal fourth-quarter loss mostly due to costs related to a hefty restructuring. The Boston company said lower volumes and high inventory costs also cut into profits. Cabot reported...

Today in Globe Business
Nurses may join big union Unionized nurses in Massachusetts are moving toward affiliating with their counterparts in California and more than 20 other states to create the largest nurses union in US history, a 150,000-member powerhouse that would lobby lawmakers...

Wednesday, October 28, 2009

Stryker Biotech, key workers face federal charges
By Todd Wallack, Globe Staff A federal grand jury today indicted a Hopkinton medical device maker and several key employees on charges that they illegally marketed a surgical device and covered up the misconduct. Specifically, the indictment accused Stryker Biotech...

US Airways to eliminate jobs nationwide, affecting workers in Boston
By Katie Johnston Chase, Globe Staff US Airways said today that it is shutting down its Boston crew base May 2, part of its plan to focus on hub cities and eliminate 1,000 jobs nationwide in the first half of...

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