Sunday, August 5, 2012

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Saturday, August 4, 2012

Daily Headlines

Sports


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Friday, August 3, 2012

Daily Business Update

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Fri. Aug. 03, 2012

Schilling on 38 Studios employees: `I failed them’

On the day he was preparing to join the Red Sox Hall of Fame’s Class of 2012, former pitcher Curt Shilling was once again faced with questions about his failed Rhode Island video game company, 38 Studios. “I had a family of 400 people that I was responsible for and I failed them,” Schilling said Friday during a press conference at Fenway Park prior to the induction ceremony. “I took a shot and tried to create something world-changing, and it didn’t work out. I gave it everything I had, literally, and now I’m just trying to manage day-by-day.”

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Partners HealthCare posts gain for recent quarter

Partners HealthCare on Friday reported a large increase in operating income for its most recent quarter, but also acknowledged it lost money investing in financial derivatives, which reduced its overall performance for the period.

Sycamore Partners says its purchase of Talbots is imminent

New York private equity firm Sycamore Partners expects on Friday to complete its merger of Talbots Inc., the struggling retailer of apparel and accessories designed for middle-age career women. Sycamore made its latest offer to buy Hingham-based Talbots about six weeks ago, in a deal valued at roughly $193 million. In a press release Friday, Sycamore announced the successful completion of its tender offer for Talbots. Following the completion of the merger, Talbots’ common stock will no longer be traded on the New York Stock Exchange.

E Ink agrees to buy SiPix shares in a bid to expand its portfolio of ePaper products

E Ink Holdings, a company with Cambridge roots and some of the technology behind Amazon.com’s Kindle e-reader, has agreed to buy 82.7 percent of the shares in SiPix Technology Inc., a maker of electronic paper displays with facilities in California and Taiwan. The combined company will offer a vast portfolio of ePaper products. E Ink started as a spin-off from MIT’s Media Lab. In 2009, it was purchased by Prime View International of Taiwan, which later changed its name to E Ink Holdings.

Zipcar drops to record low after cutting forecast

Zipcar Inc., the company that rents cars by the hour or day, fell to a record low after reducing its forecast for sales this year as the pace of new members slowed. Cambridge-based Zipcar dropped 37 percent to $6.75 at 9:41 a.m. in New York, after falling to $6.50 for the biggest drop and the lowest price since the company’s initial public offering in April 2011. The shares had declined 21 percent this year through Thursday.

T.J. Maxx is coming to CambridgeSide Galleria

CambridgeSide Galleria, a mall in the Lechmere neighborhood of Cambridge, said that a T.J. Maxx store will open in space once occupied by Borders, a bookstore chain that filed for bankruptcy. A new T.J. Maxx will occupy all 23,000 square feet of the space that Borders left vacant; the plan is for the T.J. Maxx store to open before the winter holiday season, possibly in October.

Fidelity said to plan jump into ETF business with active funds

Fidelity Investments, the asset manager that watched from the sidelines as exchange-traded funds went from zero to $1.5 trillion over the past 20 years, is finally preparing to jump into the business, according to a person familiar with the matter. Fidelity, based in Boston, aims to become the first major mutual-fund company to introduce ETFs run by active stock pickers by opening a series of products based on its “Select” line of industry-focused equity funds, said the person, who asked not to be named because the plan isn’t public. The Denver- based unit that would run the ETFs is headed by Anthony Rochte, who was hired from State Street Corp. in March.

Jordan’s Furniture teams up with Cradles to Crayons

The Jordan’s Furniture chain said its stores will be accepting like-new and new children’s clothes and shoes for the Cradles to Crayons “Ready For School” program. The Jordan’s drive to collect clothing and shoes for infants and children up to age 12 is scheduled to run through Sept. 9. Cradles to Crayons provides for children from birth through 12, living in homeless or low-income situations, with the essential items they need to thrive at home, school, and play.

Massachusetts-based Hologic plans to close Wisconsin plant, eliminating 130 jobs

A Massachusetts company that makes medical devices says it plans to close a Wisconsin manufacturing plant in the next few years, eliminating 130 jobs. Hologic Inc. of Bedford, Mass., has informed the state of Wisconsin that it will close its Madison plant. Layoffs are expected to begin at the end of next month and continue through September 2014. The letter to Wisconsin officials was dated Wednesday, the same day the company announced it completed its $3.8 billion acquisition of diagnostic test maker Gen-Probe Inc.

LevelUp raises an additional $9m

LevelUp, a mobile payment app created by Boston start-up Scvngr, announced Thursday that it has raised an additional $9 million in venture capital from T-Venture, Deutsche Telecom’s venture capital arm, as well as from other individual investors. The additional $9 million brings the total that LevelUp has raised in its Series D round to just over $21 million. Since 2008, Scvngr and LevelUp have raised $41 million in venture funding.

Aspect Software appoints Stewart Bloom as its new CEO

Aspect Software, a Chelmsford company that provides technology and software for call centers, announced the appointment of Stewart Bloom as chief executive, effective immediately. Bloom is succeeding Jim Foy, who held the post for 10 years. Foy will remain in the full-time role of executive chairman of Aspect’s board of directors, the company said. He led the company to an alliance with Microsoft and oversaw several acquisitions.

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Thursday, August 2, 2012

Daily Business Update

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Thu. Aug. 02, 2012

Massachusetts-based Hologic plans to close Wisconsin plant, eliminating 130 jobs

A Massachusetts company that makes medical devices says it plans to close a Wisconsin manufacturing plant in the next few years, eliminating 130 jobs. Hologic Inc. of Bedford, Mass., has informed the state of Wisconsin that it will close its Madison plant. Layoffs are expected to begin at the end of next month and continue through September 2014. The letter to Wisconsin officials was dated Wednesday, the same day the company announced it completed its $3.8 billion acquisition of diagnostic test maker Gen-Probe Inc.

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LevelUp raises an additional $9m

LevelUp, a mobile payment app created by Boston start-up Scvngr, announced Thursday that it has raised an additional $9 million in venture capital from T-Venture, Deutsche Telecom’s venture capital arm, as well as from other individual investors. The additional $9 million brings the total that LevelUp has raised in its Series D round to just over $21 million. Since 2008, Scvngr and LevelUp have raised $41 million in venture funding.

Aspect Software appoints Stewart Bloom as its new CEO

Aspect Software, a Chelmsford company that provides technology and software for call centers, announced the appointment of Stewart Bloom as chief executive, effective immediately. Bloom is succeeding Jim Foy, who held the post for 10 years. Foy will remain in the full-time role of executive chairman of Aspect’s board of directors, the company said. He led the company to an alliance with Microsoft and oversaw several acquisitions.

TJX reports 7% jump in July same-store sales

TJX Cos., the Framingham company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said its same-store sales rose 7 percent in July when compared with the same month a year ago, an increase that “significantly” exceeded company expectations. Same-stores sales are sales at stores open at least a year. Wall Street analysts consider same-store sales to be a key measure of a retailer’s performance. TJX added Thursday that it is further raising second-quarter and full-year guidance for its expectations of earnings per share.

AMSC 1Q loss narrows

AMSC, a Devens company that makes products for wind turbines and energy grids, reported a first-quarter net loss of $10.3 million, compared with a $37.7 million loss for the same quarter a year ago. First-quarter revenue was $28.7 million, up from $9.1 million a year ago. For the quarter ending Sept. 30, AMSC said it expects that its revenues will exceed $20 million. AMSC expects that its net loss for the second quarter will be less than $22 million.

Haemonetics completes $550m acquisition

Haemonetics Corp., a blood management company based in Braintree, said it has completed the $550 million acquisition of the business assets of the blood collection, filtration, and processing product lines of Pall Corp. The sales agreement was announced earlier this year. The combined company is expected to generate greater than $1 billion of revenue in its full fiscal year 2014

Fidelity Investments fund managers sold 1.7 million shares of Facebook in June

Fidelity Contrafund manager Will Danoff was still a believer in Facebook Inc. in June, even after its rocky IPO. His colleague Ramin Arani, not so much. Nineteen Fidelity Investments fund managers sold 1.7 million Facebook shares in June, while 16 funds added 2.8 million more shares to their holdings, according to Morningstar Inc. Fidelity was an early holder of the social networking company’s shares, which went public on May 18. Facebook shares have fallen from their $38 IPO price to $20.88 on Wednesday.

Youth Jobs Coalition protest in Copley Square calling for more teen hiring

Members of the Youth Jobs Coalition gathered in Copley Square Wednesday afternoon to protest what they call a lack of teen hiring by Bain Capital, LLC, accounting firm Ernst & Young, and other Boston companies. While the city’s youth employment program reached its goal of 10,000 jobs this summer, members of the coalition say that more needs to be done. The city’s statistics show that among the 590 Boston companies with 100 employees or more, 80 percent do not hire youth for summer jobs.

Convention center authority to buy site for hotel

The Massachusetts Convention Center Authority is finalizing a deal to take by eminent domain land in Boston’s Seaport District where it wants to build hundreds of hotel rooms, the first step toward a massive expansion of the sprawling convention complex, according to a person with knowledge of the transaction.

Say good-bye to the Boston Phoenix and hello to The Phoenix, a new weekly magazine

The Phoenix Media/Communications Group, a Boston-based independently owned news company, said it will replace its STUFF magazine and its Boston Phoenix alternative weekly with “The Phoenix,” a glossy weekly magazine that plans to combine the content of both its predecessors. With free distribution throughout Greater Boston, the new magazine aims to provide readers with “a richer experience,” and it is set to reach the market in the early fall, said the company, which added that the new format aims to better meet the needs and desires of readers and advertisers.

Langham, Boston’s $6m renovations include a ‘European-style champagne lounge’

The Langham, Boston, said Wednesday that it is in the final stages of a$6 million-plus renovation to the Franklin Street hotel’s 6,000 square foot lobby. Planned renovations include a new entrance, a new reception area, and a new “dining enclave” to complement the existing architecture. The Langham is housed in Boston’s former Federal Reserve Bank building.

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Daily Headlines

Wednesday, August 1, 2012

Daily Business Update

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Wed. Aug. 01, 2012

Say good-bye to the Boston Phoenix and hello to The Phoenix, a new weekly magazine

The Phoenix Media/Communications Group, a Boston-based independently owned news company, said it will replace its STUFF magazine and its Boston Phoenix alternative weekly with “The Phoenix,” a glossy weekly magazine that plans to combine the content of both its predecessors. With free distribution throughout Greater Boston, the new magazine aims to provide readers with “a richer experience,” and it is set to reach the market in the early fall, said the company, which added that the new format aims to better meet the needs and desires of readers and advertisers.

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Langham, Boston’s $6m renovations include a ‘European-style champagne lounge’

The Langham, Boston, said Wednesday that it is in the final stages of a$6 million-plus renovation to the Franklin Street hotel’s 6,000 square foot lobby. Planned renovations include a new entrance, a new reception area, and a new “dining enclave” to complement the existing architecture. The Langham is housed in Boston’s former Federal Reserve Bank building.

Arbella Insurance renews lease at 1100 Crown Colony in Quincy

Arbella Insurance Co. recently renewed its lease for 132,160 square feet of office space at 1100 Crown Colony in Quincy, said a broker involved in the transaction. The broker is Colliers International, which added that Arbella leases the entire building. The landlord, Dividend Capital Total Realty Trust, was represented in the lease transaction by Cushman & Wakefield Inc. Headquartered in Quincy, Arbella has revenue of more than $600 million with about $1 billion assets.

Hood plans to give away free ice cream sandwiches Thursday at City Hall Plaza

Thursday is a red-letter day in the annals of food science and culinary arts --- It’s National Ice Cream Sandwich Day, and the Hood dairy brand plans to mark this momentous occasion by handing out free ice cream sandwiches on City Hall Plaza in Boston. The ice-cream free-for-all is scheduled to run Thursday from noon to 2 p.m., rain or shine. Ice cream fun won’t be confined to the Hub. Ice cream sandwich giveaways are also scheduled for Hampton Beach, N.H.; Portland, Me.; and West Hartford, Conn.

State Street Global Markets: Investor confidence edged up slightly in July

An global index for investor confidence posted a 94 reading in July, up 0.7 points from June’s reading of 93.3, as many investors seemed to be in a cautious mood, State Street Global Markets said. A reading of 100 represents neutral on the index scale. The index also looks at confidence region by region. While sentiment among Asian investors slightly improved in July, confidence among both North American and European investors ticked downwards.

Lenovo forges ties with EMC to boost storage, server sales

Lenovo Group Ltd., the world’s second-biggest personal-computer maker, agreed to ally with EMC Corp. to help boost sales of storage equipment and servers that run corporate networks. As part of the deal, Lenovo will resell machines made by EMC, the biggest maker of storage devices. The sales will start in China then move abroad. The agreements, announced in Beijing Wednesday, help Hopkinton-based EMC widen its foothold in China, the world’s second-largest economy. Lenovo gets to expand in products besides personal computers and add sales outside Asia.

Worcester man arrested on child pornography charges is linked to international network

An international child pornography network first discovered in Massachusetts has come full circle with another local arrest -- this time in Worcester -- according to federal court documents.

Chicago company to build hotel in Downtown Crossing

A Chicago developer is planning construction of a 240-room hotel in Boston’s Downtown Crossing, one of several projects that will help revitalize the time-worn shopping district.

Secretary of State William F. Galvin charges Foxborough man for allegedly defrauding seniors

A Foxborough man is being charged with fraud for offering retirees nonexistent investments, then using the money for various personal expenses, the office of Massachusetts Secretary of State William F. Galvin said Tuesday. According to an administrative complaint, John A. Picini took custody of at least $2 million from about 35 clients over a two-year period as part of an effort to “maintain his lifestyle.” Picini’s attorney said his client planned to fight the charges vigorously.

Cole Real Estate Investments completes $93.5m purchase of Bedford office complex

An affiliate of Cole Real Estate Investments has completed its $93.5 million purchase of a two-building Bedford office complex that serves as the headquarters for RSA Security, said a broker involved in the transaction. The broker is Cushman & Wakefield, a commercial real estate firm. Cushman & Wakefield represented the seller, Real Estate Capital Partners USA Capital Trust, and procured the buyer. RSA Security, a unit of data storage giant EMC Corp. of Hopkinton, makes software used by many businesses and government agencies to protect data.

Home values in the Boston area increased modestly in May, says Case-Shiller

Boston area housing values increased by 2.4 percent in May compared with April, according to data released Tuesday by the S&P/Case-Shiller Home Price Indices. That marked the second consecutive month of increasing values in the region following eight months of slight declines, according to the index. S&P/Case Shiller is considered by real estate specialists to be one of the most accurate measures of home values because it’s based on repeat sales of properties.

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Daily Headlines

Sports


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