Wed. Sep. 28, 2011 iRobot gets $60m Army contract
Bedford’s iRobot Corp. said it has received a five-year, $60 million contract from the US Army’s Robotic Systems Joint Program Office. One company product is the PackBot, a robot that is designed to perform such military tasks as bomb disposal, reconnaissance, and other missions. Under the contract, the Army can procure robots, parts, and support services. IRobot said it has delivered more than 4,000 of this type of robot to military services and law enforcement agencies around the world. Reebok to pay $25m in refunds to settle FTC charges of deceptive advertising on toning shoes
The Federal Trade Commission said today that Reebok International Ltd. has agreed to resolve charges that the company deceptively advertised “toning shoes.” According to the FTC, toning shoes claimed they would provide extra tone and strength to leg and buttock muscles. As part of the agreement, Reebok will pay $25 million. The funds will be made available for consumer refunds either directly from the FTC or through a court-approved class action lawsuit. Amazon unveils $199 Kindle Fire Tablet, taking on Apple iPad
Amazon.com Inc., the world’s largest online retailer, unveiled its Kindle Fire tablet computer, taking aim at Apple Inc.’s bestselling iPad with a device that’s smaller and less than half the price. MBTA testing plug-in hybrid Ram pickups
The MBTA this morning is taking delivery of 10 plug-in hybrid pickup trucks as part of a national test with Chrysler. Chrysler is loaning the prototype Ram 1500 PHEV, an electrified version of its full-size pickup, to the MBTA and eight other municipalities across the country, including San Francisco and Albany. A $48 million grant from the Department of Energy, sourced from the $787 billion stimulus package in 2009, is paying nearly half the tab for the 140 PHEV trucks in the test fleet. Chrysler is footing the other $49.4 million. Staples survey: Coffee is key to a contented workforce
Office supply giant Staples Inc. is mounting a Twitter campaign to raise awareness about a coffee survey it undertook earlier this year. According to the survey, an office kitchen well stocked with joe can result in a happier and a more productive workforce. The survey is from Staples Advantage, the company division that sells office supplies --- and industrial-strength batches of coffee --- to corporate customers. Staples is headquartered in Framingham. Theracrine appoints new CEO
Theracrine Inc., a Cambridge biopharmaceutical company, announced the appointment of Steven Kelly as president and chief executive. Theracrine is focused on developing drugs that stop cancer from spreading. According to Theracrine, cancer spread is responsible for 90 percent of cancer-related deaths. The company was founded in 2010 by Flagship VentureLabs and cancer researchers. MIT endowment reports 17.9 percent gain
The endowment for the Massachusetts Institute of Technology generated a market return of 17.9 percent during the fiscal year that ended June 30, the Massachusetts Institute of Technology Investment Management Co. said today. The market value of the endowment at the end of the fiscal year was $9.9 billion. Last week, Harvard University reported that its endowment earned 21.4 percent on its investments for the year ended June 30, roughly in line with the financial performance of other large funds. Restoration Hardware signs lease for old LouisBoston space near Newbury Street
Restoration Hardware, a California chain that sells luxury furniture and home decor, said it has signed a lease for the landmark building at 234 Berkeley St. in Boston, once home to the swank LouisBoston clothing store. The site is located between Boylston and Newbury streets. The building has a neoclassical façade and was designed in the French Academic style by architect William G. Preston. It was built in 1863, and it was the long-time home of the New England Museum of Natural History. Last year, LouisBoston relocated to the South Boston Waterfront. Comcast survey: ‘Smart’ office buildings better at luring tenants
Forget gyms and cafeterias --- a Comcast survey of office building owners found that offering advanced communications services is a top selling point when it comes to attracting and retaining tenants. Tenants want “smart” office space that is technologically advanced and offers access to such services as Metro Ethernet and broadband Internet, the survey found. Only price, parking, and location ranked ahead of advanced communications services on a list of desirable office building features, the Comcast survey concluded. Mass. home sales rise 15 percent
The number of Massachusetts single-family homes sold in August rose 15 percent from the same month a year ago, and condo sales also increased, the first time this year both property types posted an increase during the same month, the Warren Group reported this morning. But the Warren Group cautioned against over-reacting. For much of 2010, a federal tax credit was in effect that looked to give home buyers an incentive to jump into the market. That credit has since expired. ikaSystems has a new chief executive
Southborough’s ikaSystems, which provides cloud-computing software that is designed to make health plans more efficient, is promoting company president Joseph Marabito to chief executive. He succeeds company founder Ravi Ika, who is becoming the executive chairman of the ikaSystems board. A 25-year veteran of the health care industry, Marabito joined ikaSystems earlier this year. According to Ika, the company is experiencing rapid growth, adding more than 100 new staffers this year. | 
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