Monday, November 21, 2011

Daily Business Update from the Boston Globe

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Mon. Nov. 21, 2011

Comcast: Wait time for service appointments has shrunk from four hours to two
A Comcast Corp. initiative to shorten the waiting times for most scheduled service appointments to two hours is now in effect in the Greater Boston market. In June, the Philadelphia-based provider of such services as cable television and Internet access announced plans to shorten the appointment windows for Comcast technicians making house calls from four hours to two hours by 2012. Comcast is rolling out the initiative market by market, and it is now being implemented locally.

Mass. gas prices fall 6 cents a gallon
The average price of gas in Massachusetts was $3.339 a gallon in the latest weekly AAA survey, down 6 cents from the previous week’s average, AAA Southern New England said. The current national average is $3.35, AAA Southern New England said. A year ago at this time, the Massachusetts average was $2.92. AAA survey’s focus on self-serve, regular unleaded gas.

Crimson Hexagon relocates to Boston’s Seaport District
Crimson Hexagon Inc. has relocated from Cambridge to new space in Boston’s Seaport District, a neighborhood that Mayor Thomas M. Menino likes to call the Innovation District. Today is the firm’s official first day in new offices with about 11,000 square feet of space, or roughly quadruple the size of its previous office in Central Square. Besides a need for more space, the firm wanted to be in a place that would help it recruit talent.

BJ’s talks up holiday toys
BJ’s Wholesale Club is looking to get the word out that its stores are now stocked with toys that promise to be among this season’s most popular items. The Westborough-based chain said that toys available at its 192 club stores include Sesame Street Let’s Rock Elmo, I Am T-Pain Auto Tune Mic, and Lego Alien Conquest and Ninjago --- all listed on CNBC’s Hot Holiday Toys List for 2011. BJ’s was recently taken private.

Global Partners to buy Alliance Energy in deal valued at $296 million
Global Partners LP has agreed to buy 100 percent of the membership interests of Alliance Energy LLC in a transaction with an enterprise value of $296 million. Global Partners, a public company based in Waltham, owns, controls, or has access to one of the largest terminal networks of refined petroleum products in the Northeast. Also based in Waltham, Alliance is a privately owned gasoline distributor that also operates 542 gasoline stations in New England, New York, New Jersey, and Pennsylvania.

NPD survey: More shoppers will be out on Black Friday this year
More people will start their shopping on Thanksgiving weekend this year than last, according to a survey from the NPD Group. Looking to fend off competition from the Internet, many brick-and-mortar retailers are offering extended hours and big promotions over Thanksgiving weekend, the traditional start of the holiday shopping season. All this activity will induce more consumers to throng the malls the next weekend.

Fantini & Gorga arranges $10.4m financing for the Berkeley
Fantini & Gorga, a mortgage banking firm based in Boston, has arranged $10.4 million in permanent financing for the Berkeley, a mid-rise office building at 420 Boylston St. in Boston’s Back Bay. The loan was placed with Lincoln Financial Group. Fantini & Gorga has a correspondent relationship with Lincoln Financial Group. Fantini & Gorga said it will service the loan in-house. The borrower is an affiliate of A.W. Perry Inc., which acquired full ownership of the building in the 1950s.

Four Mass. fire departments win Liberty Mutual grants
Liberty Mutual, a global insurance company headquartered in Boston, said that its Be Fire Smart Safety Pledge program has awarded $10,000 grants to fire departments in Bridgewater, Weymouth, Wilmington, and Merrimac. The Weymouth Fire Department plans to use its grant to help purchase thermal imaging cameras, and the Merrimac Fire Department will use some of the grant to buy new protective clothing for its fire fighters.

Stop & Shop celebrates grand opening in Chelmsford
Stop & Shop is celebrating the grand opening of a state-of-the-art store in Chelmsford. The 72,000-square-foot store includes such firsts for the chain as an in-store nutritionist and a Tree House, an area where Stop & Shop minds the children so their parents can go grocery shopping. Also new: Curbside pick-up. Customers can order online, then pick up what they ordered without leaving their car.

Boston Wine Expo is lowering prices
The Boston Wine Expo is lowering prices but limiting the number of tickets sold for the annual tasting event in January. It’s also expanding the festivities to include Vintner Dinners during the week before that will showcase creative food and wine pairings throughout Boston, as well as a three-day education series. For the tasting extravaganza on January 21 and 22, Saturday tickets begin at $85 and Sunday tickets start at $70 – compared to $95 and $85 last year, respectively.

Coakley says homeowners may be paying too much for insurance
Attorney General Martha Coakley is urging state regulators to scrutinize homeowners insurance rates she says are too high because they are based on unreliable hurricane forecasting models. Coakley, in a letter sent to the State Rating Bureau, asked regulators to hold a public hearing to investigate allegations of inflated insurance costs, especially on Cape Cod, Martha’s Vineyard, and Nantucket.

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