Tuesday, June 7, 2011

Daily Business Update from the Boston Globe

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Tue. Jun. 07, 2011

AG: Conn. tax could cost Mass. $26m
Massachusetts AG Martha Coakley is warning that a new tax in Connecticut could cost Massachusetts home owners and other electricity customers an extra $26 million annually.

230,000 homeowners underwater, study says
For many Massachusetts borrowers, their homes are worth far less than what they owe to lenders, according to a study released today.

Roundtable's Macdonald is stepping down
The Massachusetts Business Roundtable promotes JD Chesloff to succeed its executive director of 23 years, Alan G. Macdonald, who is retiring.

State pension fund posts gain
The Pension Reserves Investment Management Board reported a 23.6 percent gain.

Mass. Business Confidence Index drops
An index that seeks to measure the mood of Bay State employers dropped in May as employers fretted about uncertain economic conditions.

Big Y pilots grocery chain Groupon offers
Big Y Foods Inc., a Springfield-based chain of 61 stores, said it will be the first grocery retailer to offer Groupon deals digitally loaded to shoppers' loyalty cards.

Talbots returns to profit in 1Q
Talbots returned to profitability in the first quarter, but its stock plunged after it said that second-quarter sales are weak.

PolyRemedy closes $20m financing
PolyRemedy closes a $20 million financing. With offices in Boston, the company focuses on wound-management systems.

GigaWealth: Doppler radar can scope out investments
A Boston firm called GigaWealth has devised a way to use Doppler radar visualization techniques in putting together an investment portfolio.

PPL signs on with EnerNOC
EnerNOC has entered a contract with PPL Electric Utilities to help the Pennsylvania utility to manage energy consumption through EnerNOC's demand-response services.

Whole Foods, Legal C Bar first to sign on Lynnfield complex
Retailers boost massive mixed-use project

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