Wednesday, November 24, 2010

Daily Business Update from the Boston Globe

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Wednesday, November 24, 2010

Administration: Mass. insurer rate hikes slowing
Massachusetts' biggest insurers are slowing the rate of increases in health care premiums.

Boss, don’t expect a fruitcake from the help
With folks eager to hang onto their jobs in a tough economy, you might think that more employees would be inclined to give their boss a holiday gift this year, but such thinking would be wrong, according to a new survey from Aerotek.

Logan travelers are opting out of Opt-Out Day
Early morning travelers at Logan International Airport are mostly opting out of National Opt-Out Day, an event thought up by a Virginia man to protest airport security measures that include a digital body scan or a physical pat down.

Jones Lang LaSalle gets leasing agent assignment
Jones Lang LaSalle said it has been appointed the exclusive leasing and property management agent for 150 Second St., a new 120,000-square-foot research and development building planned for Kendall Square in Cambridge.

Converse to unveil store in Manhattan
Converse, the North Andover-based athletic footwear and apparel brand, said it plans to officially open its first specialty retail store in Manhattan.

Settlement in Methuen condo case
A Methuen condominium association agreed to to pay $150,00 in restitution and penalties to resolve federal claims that it prohibited children from playing in the complex's common area.

Spirit Airlines computer system goes down, Sun reports
The reservation system and website for Spirit Airlines crashed this morning on one of the busiest travel days of the year, causing passenger check-in delays, the Baltimore Sun is reporting.

Genzyme says it has met FDA milestones
Genzyme Corp. said today it has met milestones under its consent decree with the Food and Drug Administration by moving a production step for some of its drugs out of its troubled Allston plant.

TowerGroup predicts gift card sales to rebound
TowerGroup, a Needham advisory firm focused on the financial services industry, a subsidiary of Corporate Executive Board, estimates that spending on gift cards for the 2010 holiday shopping season will increase for the first time in three years, reaching $91 billion in sales.

Madoff trustee sues UBS, others for $2b
The trustee trying to recover money for investors cheated by jailed financier Bernard Madoff announced a lawsuit Wednesday against the Swiss bank UBS AG and related entities and individuals, alleging they collaborated in Madoff's Ponzi scheme.

Itamar-Medical taps Slosman
Itamar-Medical Inc., a Franklin company specializing in non-invasive ambulatory sleep testing and vascular health diagnostics, announced the hiring of Marvin Slosman as president of Itamar-Medical for North America.

Online holiday spending is off to a good start
Retail e-commerce spending for the first 21 days of the November�December holiday season was $9.01 billion, up 13 percent when compared with the corresponding days last year, as online merchants lured consumers with discounts.

Tuesday, November 23, 2010

Mass. AG will appeal gas-rate increase
The office of Massachusetts Attorney General Martha Coakley said it will appeal a decision by a state agency to approve a $41-million rate increase for customers of Boston Gas, a subsidiary of National Grid.

Judge allows Oppenheimer to keep documents impounded until next month
Oppenheimer & Co., in its battle with the former manager of its Boston office, persuaded a Suffolk County Superior Court judge to keep more than 1,600 pages of documents impounded until a hearing slated for Dec. 7.

Wozniak comment on Nuance acquisition called an 'error'
Nuance Communications Inc., Burlington-based maker of of speech-recognition software, rose the the most since April 2009 after an online video showed an Apple Inc. co-founder saying the iPhone maker had acquired the company, Bloomberg News reported.

Grant to help financial workers hurt by layoffs
The US Department of Labor said it has allocated a nearly $2.6 million grant that will continue to provide services to Massachusetts workers affected by layoffs in the financial industry.

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