Monday, June 20, 2011

Daily Business Update from the Boston Globe

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Mon. Jun. 20, 2011

Unemployment benefits cut for some state residents
The state’s declining unemployment rate has triggered a federal provision that shortens the period for when state residents can receive extended unemployment benefits. The roughly 165,000 people receiving regular unemployment benefits will not immediately be affected.

Bruin Tim Thomas sheds the beard for charity
Bruins goalie Tim Thomas allowed Gillette to shave his playoffs beard in return for a payment to charity

Interest-free federal loans offered to unemployed homeowners
A long-delayed federal program aimed at helping hundreds of unemployed Massachusetts homeowners pay their mortgages is finally being launched today, with $61 million earmarked for the state.

Local gas prices fall again
The average price for gas in Massachusetts was $3.689 a gallon in the latest weekly survey from AAA, down 3 cents from the previous week’s average, AAA Southern New England said. It was the sixth week in a row that the Massachusetts average has declined.

Dunkin’ Donuts goes country
Dunkin’ Donuts said it will be a sponsor of the nationwide concert tour that country star Joe Nichols is embarking on to promote his forthcoming album.

Fan Pier ground-breaking set for Vertex
A ground-breaking project for the new headquarters of Vertex Pharmaceuticals Inc. at Fan Pier has been scheduled for Wednesday, said the project’s developer, the Fallon Co. Vertex’s move has the potential to jump-start the economic turnaround of the industrial area at the South Boston Waterfront.

Concert qualifies for $4m milestone payment
Concert Pharmaceuticals Inc., a Lexington biotechnology company collaborating with drug giant GlaxoSmithKline to develop potential HIV treatments, said that it has achieved a milestone under the alliance that triggers a $4 million payment to Concert.

Tim Thomas to shave playoff beard with Gillette razor
Gillette has scheduled an event for today at which Bruins goalie Tim Thomas is expected to shave off his play-off beard.

Boston Herald offers buyouts to employees
The Boston Herald today offered employees voluntary buyout packages in order to trim staff and cut costs. The offer was made to all the newspaper’s staff and managers, according to an e-mail sent to members of the Herald’s newsroom union. Guild members are being offered two weeks salary for every year of service.

Investors reveal bid to buy BJ’s
Two private equity firms have made an offer to buy retailer BJ’s Wholesale Club, based in Westborough.

Going to miss the Bruins parade? Comcast has you covered.
Comcast plans to make NESN’s coverage of the Bruins victory parade available to its digital TV subscribers as a special On-Demand presentation.

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