Friday, July 29, 2011

Daily Business Update from the Boston Globe

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Fri. Jul. 29, 2011

New England Patriots vet opens crepe restaurant
Former New England Patriots player Matt Chatham is celebrating the grand opening of his first fast-serve crepe restaurant, called SkyCrepers, at the Emerald Square Mall in North Attleboro next Thursday. The three-time Superbowl champion will be joined by his teammates and other past Patriots at the store from 5 p.m. to 7 p.m. on Thursday, August 4th. Fans are encouraged to join the festivities and snack on free food samples, take part in cooking demos, and enter to win raffle prizes.

Carbonite seeks $106 million in IPO
Carbonite Inc. of Boston, a leading provider of online data backup services, hopes to raise as much as $106 million in an initial public stock offering later this year.

Mass. economy grows at healthy clip, outpacing US
The University of Massachusetts said today that the state’s economy grew at an annual rate of 4.8 percent on the second quarter, more than three times faster than the national economy, which expanded at just 1.3 percent during the same period. The state’s economy has out-performed the US economy for four successive quarters.

East Boston Savings Bank branches out
East Boston Savings Bank

Putnam assumes Fidelity’s Gillette sponsorship
Boston mutual fund company Putnam Investments is replacing cross-town rival Fidelity Investments as a key sponsor of Gillette Stadium. Putnam’s name will replace Fidelity’s on two three-story luxury clubhouses, each with 3,000 seats.

WCVB newscasts draw most viewers
WCVB-TV (Channel 5) drew the most viewers during the July ratings sweeps period, winning every newscast in overall viewers it competes in. But WHDH-TV (Channel 7) won some newscasts in key demographics that advertisers covet.

Cheeseboy raises money for charity to celebrate new Pru store
The new Cheeseboy: Grilled Cheese to Go stand at the Prudential Center food court is holding a fundraiser today for Association of Hole in the Wall Camps.

MassMutual unit agrees to $1 billion Madoff settlement
A hedge fund unit of Massachusetts Mutual Life Insurance Co. has agreed to pay more than $1 billion to customers of imprisoned fraudster Bernard Madoff, in a settlement with the trustee in Madoff bankruptcy case.

Obama nominates former Boston VC to Energy Department post
David Danielson, who co-founded the clean energy investment practice at Boston venture capital firm General Catalyst Partners, is nominated as assistant secretary for Energy Efficiency and Renewable Energy.

Fidelity: Pension plan participants under-educated
Corporate pension participants are under-educated about the details of their plans, fund manager Fidelity Investments said in a report released today.

Dunkin’ stock still robust
Investors experienced a morning rush for shares of Dunkin’ Brands Group, and the Canton company’s stock opened at $29.21, the highest price it’s reached since debuting on the NASDAQ yesterday.

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