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Tue. Mar. 27, 2012 MassBio elects new board members The Massachusetts Biotechnology Council, a not-for-profit trade association that represents the Massachusetts biotechnology industry and that is also known as MassBio, said Tuesday that its members elected Geoff MacKay to a two-year term as the organization’s chairman. MacKay is president and chief executive of Organogenesis Inc., a Canton-based regenerative medicine company.	Advertisement
State Street: Investor confidence rises 5 points in March A global investor confidence index rose 5 points in March, posting a reading of 91.6, said State Street Global Markets, the investment research and trading arm of State Street Corp. and the firm that maintains the index. The revised reading for February was 86.6. There was a lift in sentiment among North American investors --- the North American sub-index for March rose 8.7 points.
Princeton Review to sell test prep business, name Princeton Review Inc. is selling its test preparation business for $33 million in cash to a private equity firm and plans to change its name as it focuses on its online education division. The Framingham-based company is best known for the test preparation materials that it sells under the Princeton Review brand, which is also being sold as part of the deal to an affiliate of Charlesbank Capital Partners, a Boston-based private equity firm.
Filene’s Basement’s Running of the Brides, other intellectual property to be put up for auction Do you want to buy the Running of the Brides? Filene’s Basement LLC and its parent Syms Corp. want to sell off the intellectual property rights of the now shuttered discount clothing chains. They have filed a motion with the US Bankruptcy Court in Delaware to approve an auction for assets, including the Filene’s Basement trade name and the famed Running of the Brides event, an annual sale during which brides-to-be would madly scramble to claim deeply-discounted wedding gowns.
In London speech, Boston Fed president Rosengren warns against economic complacency The nation’s economic recovery is moving forward, but not so fast that the Federal Reserve should abandon policies aimed at stimulating growth, Eric S. Rosengren, president of the Federal Reserve Bank of Boston, said in a speech in London Tuesday. Rosengren cited several positive economic signs, including strong stock market performances, a falling unemployment rate, and job gains, Still, he said consumer spending remains subdued and the housing market weak, while government spending cuts, and the European debt crisis continue to hurt.
Welch’s signs lease for new HQ Welch’s, a brand known for its grape juice, said it is relocating to new space in Concord as it merges its corporate headquarters and technology center at a single site. Welch’s said Tuesday that it has signed a lease for 85,000 square feet of space at 300 Baker Ave., which is owned by Normandy Real Estate Partners. The address of Welch’s current headquarters is 575 Virginia Rd., Concord. Its technology center is located in Billerica. The plan is to move both sites under one roof.
NStar: Gas customers could pay less this year NStar said it is seeking a rate adjustment that could mean its natural gas customers will save about $4.60 a month from what they paid a year ago. The reason? The natural gas supply continues to be plentiful. If approved by state regulators, the change would go into effect May 1. Under the proposed rate, NStar customers using an average of 29 therms of gas a month between May and October would pay $33.20 a month, down from $37.81.
Zipcar expands ‘Zipvan’ service to Boston Zipcar Inc., the Cambridge-based car-sharing service, said it is expanding its Zipvan service to the Boston and Washington, D.C., markets following a successful pilot test in San Francisco. In the case of Greater Boston, Zipcar said it is adding 15 Ford E-150 full size cargo vans to its local fleet of vehicles. The vans are available for hourly or daily rental with rates starting at $15.75 per hour and $109 per day.
CloudLock closes $8.7m in Series B funding CloudLock, a Waltham software company, said Tuesday that it has raised $8.7 million in a Series B funding round from new investor Ascent Venture Partners and existing investor Cedar Fund. CloudLock said it will use some of the money raised to help expand its cloud-data-security services to new markets. Luke Burns, a partner with Ascent Venture, will join CloudLock’s board of directors.
Constellation Pharmaceuticals appoints Keith E. Dionne as chief executive It looks like a straight-up swap between Boston venture capital firm Third Rock Ventures and Cambridge start-up Constellation Pharmaceuticals Inc. --- Keith E. Dionne is leaving Third Rock to replace Constellation chief executive Mark A. Goldsmith, who is off to the West Coast to be a venture partner in Third Rock’s San Francisco office. Constellation looks to develop disease treatments from epigenetics, the study of molecular changes in cells that can activate or deactivate genes without affecting the underlying DNA code.
Staples offers tax-season special Looking to encourage customer loyalty while getting out the word that it’s an ideal venue for one-stop shopping during tax season, office-supply giant Staples Inc. said it is offering customers free copies of their tax returns. “Starting April 8 and continuing through tax-filing day on April 17, Staples Copy & Print Centers (with full service at all Staples locations) will provide savings to its customers by offering 30 pages of free tax return copies (15 double-sided sheets),” Framingham-based Staples said.
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