Friday, February 22, 2013

Daily Business Update

 
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EDITORIAL EMAIL PUBLISHED BY   Boston.com
Daily Business Update Fri. Feb. 22, 2013
 
Cogent Research: Many consumers use social media to help make investment decisions
About a third of affluent consumers are now using social media as one way to gather information they use to make investment and personal finance decisions, according to a new report from Cogent Research, a market research and consulting firm based in Cambridge. Titled “Social Media’s Impact on Personal Finance and Investing,” the report is drawn from insights gained from a national survey of more than 4,000 investors with more than $100,000 in investable assets.
New York Times exec outlines Boston Globe sale process to employees
New York Times Vice Chairman Michael Golden told Boston Globe employees Friday that the company has a duty to seek the highest bidder in a sale but hopes to leave the newspaper in responsible hands. Golden came to Boston to discuss the Times Co.’s plan to sell the Globe, the Worcester Telegram & Gazette and their related web sites.
Casual Male Retail Group is changing its name to Destination XL Group
Casual Male Retail Group Inc., a Canton-based retailer that sells clothing to big and tall men, said that it plans to change its corporate name to Destination XL Group Inc., effective Feb. 25. The company has been selling apparel under such store name-plates as Casual Male XL, Rochester Clothing, and B&T Factory Direct. A while back, the company started experimenting with a new store format called Destination XL. Company officials were so pleased with results that they now believe a corporate name change is in order.
Nation must rebuild ‘industrial ecosystem’ to spur manufacturing, says MIT
A new report by the Massachusetts Institute of Technology urgently recommended that the nation rebuild its “industrial ecosystem” of manufacturers, suppliers, research, and skilled labor to support multiple industries, not just clusters of companies dedicated to one particular sector. The report, unveiled in Washington Friday, said manufacturers with the ability and talent to produce the ideas of entrepreneurs are in increasingly short supply, as US corporations have shifted production offshore and outstourced many other functions, such as research and development, over the last 30 years.
FDA approves breast cancer drug partly developed by ImmunoGen
Federal regulators Friday morning said they approved T-DM1, a promising new breast cancer therapy with potentially serious side effects, for sale in the United States. Key components of the drug were developed by Waltham biotechnology company ImmunoGen Inc., but the drug is being marketed by its partner, the Genentech division of Swiss drugmaker Roche AG, under the brand name Kadcyla. Kadcyla was approved for sale to some patients with HER2-positive metastatic breast cancer, an aggressive form of the disease.
Restaurants Besito and Tokyo Japanese Steak House are coming to the Mall at Chestnut Hill
Fans of Mexican food and Japanese steak might be interested to know that two restaurants featuring such cuisines are scheduled to open later this year at the Mall at Chestnut Hill. One restaurant is called Besito, which supposedly means “little kiss.” It will seek to recreate the ambiance of a hacienda as it dishes up fare that captures “the spirit of Mexico,” the mall’s press release said. The second new restaurant is Tokyo Japanese Steak House.
CVS/pharmacy revamps its Gold Emblem private label snack line
CVS/pharmacy, the Woonsocket, R.I.-based chain of drug stores, said it is revamping its Gold Emblem snack line, which includes such items as desserts, beverages, chips, pretzels, dried fruits, and candies. The revamp was prompted by a desire to give customers more options while giving the packaging a “contemporary new look,” CVS/pharmacy said.
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