Thursday, April 21, 2011

Daily Business Update from the Boston Globe

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Thursday, April 21, 2011

Logan snow removal crew wins award
The snow removal crew at Logan International Airport has been rewarded for its round-the-clock efforts this winter, winning the Balchen/Post Award for airport snow and ice control -- the third time Logan has earned the award in the past six years.

Royal Philips and Corindus form alliance
Royal Philips Electronics is teaming up with Corindus Inc., a Natick company that specializes in robotic technology for medical procedures.

Stigers will head Shaw's Supermarkets
Shaw's Supermarkets Inc., the West Bridgewater-based grocery chain, said that president Larry Wahlstrom will retire from the company this spring and l be replaced by Mike Stigers, an industry veteran who began his new role this week.

NY Times Co.'s 1Q earnings fall on print ad drop
The publisher of The New York Times and 17 other daily newspapers including The Boston Globe said its first-quarter earnings fell 58 percent because of a decline in print advertising revenue.

Mavizen announces agreement with A123 Systems
Mavizen, a technology provider to the electric motorsport industry, announced an agreement that will let the company make available lithium ion battery technology from A123 Systems Inc. for two-wheeled high-performance motorsports applications.

Biogen 1Q profit rises 35 percent on Tysabri sales
Biogen Idec Inc., a Weston biotechnology company, reported first-quarter revenues of $1.2 billion, up 9 percent on a year-to-year basis, as the company saw solid sales for its multiple sclerosis drugs Tysabri and Avonex.

Fallon unveils new TV commercial
Fallon Community Health Plan is launching a new TV commercial titled "Parade" that highlights the plan's fitness benefits and sends the message that Fallon is, "Less same old. More you."

Greyhound expanding Express bus service
Greyhound said it is partnering with Peter Pan Bus Lines to expand its Express service between Boston and New York starting April 27 with nine daily round trips.

Hat store is opening on Newbury Street
Goorin Brothers notes that it has outfitted the likes of Tom Brady and Brad Pitt in tony toppers, and now it says it is opening one of its hat shops on Newbury Street in Boston.

Wednesday, April 20, 2011

169 jobs to be cut at Genzyme Genetics, memo says
The new owner of Genzyme Corp.'s former genetics testing business plans to eliminate 169 jobs at its Westborough site this year and in 2012, according to a memo circulated last week.

Brookline Bancorp: Solid 1Q; acquiring Bancorp RI
Brookline Bancorp Inc. has agreed to buy Bancorp Rhode Island Inc. for $234 million in cash and stock, the two banks said today.

AirTran kicks off summer sale
AIrTran kicks off summer airfare sale.

Hanover to buy British insurance company
Hanover Insurance Group today announced a $510 million deal to buy a British insurance company, Chaucer Holdings PLC, Hanover's first major expansion outside the United States.

Economy improving, but anxiety still high in Mass.
The economic recovery began nearly two years ago, yet anxiety remains high about jobs and making ends meet in households across Massachusetts, according to a new survey by the public policy department at the University of Massachusetts Dartmouth.

Army places iRobot order
Bedford's iRobot Corp. said it has received a $7.6 million order from the US Army for 50 of its tactical mobile robots and spare parts.

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