Fri. Nov. 04, 2011 Amtrak service halts late Sat. for bridge upgrade
Amtrak is suspending its Northeast Regional service between Boston and New York City from 4 p.m. Saturday through noon Sunday to replace two century-old bridge spans in Connecticut. The $22.1 million project to upgrade the East/West Harbor Bridge in Stonington, on the Rhode Island border, has been carried out over more than two years. It was funded partly through federal stimulus money. Amtrak says no alternate transportation is being provided during the construction. Chief executive resigns as Amag cuts jobs
Amag Pharmaceuticals Inc., the Lexington-based maker of the anemia treatment Feraheme, said that president and chief executive Brian J.G. Pereira has resigned, effective immediately. The company also unveiled a restructuring plan that includes a 25 percent reduction in positions. As a result, 13 employees in Massachusetts are being laid off. Frank Thomas, the company’s chief financial officer, has been appointed as the interim president and chief executive. Amag shares were up nearly 16 percent in afternoon trading. Shaw’s launches holiday giveaway
Shaw’s Supermarkets, the West Bridgewater-based chain with 169 stores, said it is launching a holiday giveaway that gives its shoppers a chance to win a share of more than $15 million in prizes and money-saving offers, including two $250,000 cash prizes. Goals of the “Wish Big Win Big Holiday Giveaway Collect & Win Game” include attracting new customers and driving sales, Shaw’s president Mike Stigers said in a statement. Survey: The workplace runs better on premium joe
A new survey finds that companies that invest in better coffee are rewarded with improved workplace morale and increased productivity. The survey is from Filterfresh, a Westwood company that provides coffee services and products to businesses nationwide. According to Filterfresh’s survey of human resource executives, 64 percent of respondents said they have upgraded their office coffee offerings in the last three years, and 86 percent said that the upgrade boosted employee morale. A123 Systems lowers full-year revenue guidance
WALTHAM -- A123 Systems Inc., which makes rechargeable batteries for electric cars, is lowering its full-year revenue outlook because a customer cut its order for battery packs. A123’s stock fell 33 cents, or 9.4 percent, to $3.20 in premarket trading Friday. Chief executive David Vieau said in a statement that Fisker Automotive is cutting its battery pack order for the fourth quarter as it balances inventory levels from suppliers. Storm hurts iParty’s Halloween sales
Dedham’s iParty Corp., a chain of 52 party goods stores, cited last week’s storm as a big reason why its calendar October sales fell 11.1 percent from the same period a year ago. For a chain that sells costumes, Halloween is Christmas and Valentine’s Day rolled into one. But because of the storm, 11 of the chain’s party stores and one temporary Halloween store lost power and were temporarily closed during what normally is a super busy stretch. Mass. tax take up in Oct. but misses benchmark
Massachusetts revenue officials say the state collected $1.45 billion in taxes in October, up 8 percent from the same month a year ago but slightly below the state’s benchmark for the month. Revenue Commissioner Amy Pitter said that income tax collections were up more than 12 percent from a year ago and sales tax revenue increased by more than three percent. But corporate tax collections declined by more than 11 percent from October 2010. The state missed last month’s revised benchmark by $12 million. Puth leaves State Street Global Markets
David Puth has decided to leave his post of leading State Street Global Markets, the investment research and trading arm of State Street Corp. Puth held the post for three years, State Street said. He is leaving to “pursue other opportunities” in the financial services industry, Boston-based State Street added. Mike Rogers, executive vice president and head of Global Services Americas, will assume leadership of State Street’s Global Markets business in addition to his current responsibilities. TJX same-store sales rose 3% in Oct.
TJX Cos., which operates such retail chains as T.J. Maxx and Marshalls, reported that October same-store sales rose 3 percent from a year ago. Same-store sales, which are sales at stores open at least a year, are regarded as a key measure of a retailer’s health. The October increase came despite unseasonably warm weather in some parts of the US and Canada. High temperatures hurt the sales of cold-weather apparel, said Framingham-based TJX, which reaffirmed its third-quarter outlook. Verastem files for an IPO
Verastem Inc., a Cambridge biopharmaceutical company that looks to create drugs that selectively target cancer cells, has filed a registration statement for a proposed initial public offering of its common stock, or an IPO. The IPO could raise up to $50 million. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Despite a tough climate for life sciences companies attempting to raise venture capital funding, Verastem managed to raise $32 million earlier this year. Hospitality Properties Trust buy Sonesta Hotel chain
Boston’s Sonesta International Hotels Corp. is being acquired for $174 million by an affiliate of | 
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