Tuesday, May 10, 2011

Daily Business Update from the Boston Globe

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Tuesday, May 10, 2011

Kerry asks FCC to review Boston cable TV rates
US Senator John Kerry, a Massachusetts Democrat, is asking the Federal Communications Commission to deliver a report on cable-TV rate changes in Boston and other Bay State communities.

Elliott to retire as Boston Scientific CEO
Boston Scientific Corp., the Natick medical device maker, announced that Ray Elliott will retire as president and chief executive on Dec. 31.

Gemvara will move its HQ to the Hub
Gemvara Inc., the online retailer of customer-designed fine jewelry, said it is relocating its corporate headquarters from Lexington to downtown Boston.

Dunkin' appoints president of international unit
Dunkin' Brands Group Inc., the Canton-based parent of Dunkin' Donuts and Baskin-Robbins, said that Neal Yanofsky has been appointed to the newly created position of president, international.

First Marblehead will restate earnings
First Marblehead Corp., a Boston company that provides financial services related to student loans, said today that it will correct its financial statement presentation for the prior two quarters of fiscal 2011 to eliminate the use of non-controlling interest accounting.

Lemelson-MIT sustainability prize goes to Hausler
The Lemelson-MIT Program said that its $100,000 sustainability award will go to Elizabeth Hausler for her engineering accomplishments in developing models for earthquake-resistant housing in the developing world.

Thermo Fisher provides acquisition update
Laboratory sciences supplier Thermo Fisher Scientific Inc. expressed confidence "in being able to secure all necessary outstanding regulatory and antitrust approvals" in connection with its tender offer to acquire Dionex Corp. for $118.50 per share in cash.

Dent Wizard taps MassMutual
MassMutual said it has been selected by Dent Wizard International as the new retirement plan provider for the company's $38 million 401(k) plan.

First Wind Utah expansion project goes online
First Wind Holdings Inc., a Boston company focused on utility-scale wind projects, today announced that the construction of the 102 megawatt Milford Wind Corridor Phase II project has been completed and that commercial operations have begun.

Monday, May 9, 2011

New York firm to take over Faneuil Hall Marketplace
The historic Faneuil Hall Marketplace is expected to change hands after a group of New York investors struck a deal with General Growth Properties to buy the lease to the trophy Boston property.

CoolChip wins $200k MIT clean energy prize
CoolChip Technologies today became the grand prize winner of the MIT Clean Energy Prize for developing a technology that reduces data center cooling needs, said NStar, the local utility that is one of the sponsors of a competition that drew 80 teams from more than 40 universities

Feinsmith to head Pepper Hamilton's Hub office
Pepper Hamilton LLP, a national law firm with more than 500 attorneys and Philadelphia roots, said that Todd A. Feinsmith, a corporate restructuring and bankruptcy lawyer, has been named partner in charge of the firm�s Boston office.

Beacon Roofing Supply trims fiscal 2nd-qtr loss
PEABODY -- Beacon Roofing Supply Inc. reported a slightly smaller loss for its fiscal second quarter, as the building materials company saw sales improve versus a year ago.

Cape Cod robot helps find missing U-boat
Hydroid Inc., a Bourne-based manufacturer of autonomous underwater vehicles, or AUVs, said that one of its AUVs was used by the Royal Netherlands Navy in finding a missing World War I German submarine off the Dutch coast.

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