Boston news - NewsLocker

A sale of LogMeIn to private equity would make ‘perfect sense,’ says M&A lawyer

15-11-2019 20:55 via Boston Business News - Local Boston News | Boston Business Journal

Enterprise software company LogMeIn Inc. could become the latest local tech company that was gobbled up by private equity in a deal that would make “perfect sense,” according to a mergers and acquisitions lawyer.

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Fidelity, Natixis get closer to approval on innovative funds

15-11-2019 20:42 via Boston Business News - Local Boston News | Boston Business Journal

The new type of funds mix elements of actively managed and exchange-traded products, something active managers hope will help slow down the rush to index funds.

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Scenes from the BBJ's Power 50 event in the Seaport

15-11-2019 18:53 via Boston Business News - Local Boston News | Boston Business Journal

Nearly 400 people attended the Business Journal's 2019 Power 50 event on Thursday evening to honor the men and women who have made an major impact on Greater Boston's business community and economy over the past year. The event, held at the Tuscan Kitchen restaurant in Boston’s Seaport District, celebrated the region's most influential and admired executives and entrepreneurs.See the gallery above for photos of some of the Power 50 winners, their co-workers, family and friends.You can read

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Drug giant Roche acquires Lexington biotech for $390M

15-11-2019 18:30 via Boston Business News - Local Boston News | Boston Business Journal

Drug giant Roche is buying another Boston area biotech startup, this time paying $390 million upfront for the company’s treatments for tissue scarring.Under the deal announced Friday, Roche will pay upwards of $1.4 billion in combined upfront and milestone payments for privately held Promedior Inc.. The startup has spent the last decade developing treatments for fibrosis, or scarring, in bone marrow, lungs, liver, and other organs. It is currently advancing one product candidate into mid-t

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5 Minutes With ... Jit Kee Chin, innovation chief at Suffolk

15-11-2019 17:03 via Boston Business News - Local Boston News | Boston Business Journal

Just two years after returning to Boston from a decade of consulting around the world, Jit Kee Chin took a brand-new position at Suffolk and is hoping to revolutionize not only the company but also the construction industry as a whole.

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ResTORbio stock plummets on late-stage drug failure

15-11-2019 16:45 via Boston Business News - Local Boston News | Boston Business Journal

Boston biopharma startup resTORbio Inc. fell as it approached the finish line, reporting Friday that its most advanced drug candidate failed in the last leg of testing. ResTORbio (Nasdaq:TORC) disclosed Friday that its drug for potentially deadly respiratory tract infections did not meet its primary goal in a Phase 3 trial. Despite showing promise in earlier testing, the drug ultimately failed to decrease respiratory illnesses in subjects 65 years or older. The startup’s stock pr

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BB&N teams up with Watertown to outbid developers

15-11-2019 14:44 via Boston Business News - Local Boston News | Boston Business Journal

The Buckingham, Browne & Nichols School in Cambridge is teaming up with the town of Watertown in an attempt to outbid developers for a 6.1 acre lot on Grove Street owned by the Mount Auburn Cemetery and on the market.

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Five things you need to know today, and ‘tis the season

15-11-2019 12:10 via Boston Business News - Local Boston News | Boston Business Journal

Good morning, everyone. Here are the five most important things you need to know to get your Friday started.Baker signs college-closures billGov. Charlie Baker yesterday signed into law a bill that requires universities to share financial information online and to notify state officials if they might close.Poll: Voters vary on traffic fixesMassachusetts voters want traffic-choked roads fixed and public transit made more reliable, but how to fund such upgrades varies, according to a new survey.Is

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Here's everything you need to know about this year's Power 50

15-11-2019 12:02 via Boston Business News - Local Boston News | Boston Business Journal

They represent a wide range of industry sectors and businesses — top executives in professional services, biotech, technology, health care and higher education, along with the movers and shakers in real estate, law, media, advertising, nonprofits and transportation.
The Boston Business Journal’s 2019 Power 50 list includes men and women who not only are making an impact on Boston’s economy and business community, but are doing so while earning the respect of their peers and the

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Delta Dental execs: Ban flavored tobacco, protect health of our youths

14-11-2019 12:41 via Boston Business News - Local Boston News | Boston Business Journal

Ask any dentist from Springfield to Boston and they'll tell you the same thing: Candy is bad for your teeth. Today, however, we're seeing young people shift from eating sweets to inhaling the candy-like flavors of nicotine that are found in the cartridges of e-cigarettes and vape pens. These flavored tobacco products have severe negative effects on the overall health, including oral health, of adolescent users. We must act fast to protect the health of our young citizens by permanently banning a

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Five nursing homes in Mass. earn lowest ranking from U.S. News

14-11-2019 12:24 via Boston Business News - Local Boston News | Boston Business Journal

One Bay State nursing home saw nearly double the state average of patients visit the emergency room. Another reported using antipsychotic drugs nearly six times the state and national average. And another closed earlier this year.Those nursing homes are among the five that received the lowest ranking recently from U.S. News & World Report, which looked at care, safety, health inspections and staffing at 388 nursing homes in Massachusetts.According to the figures, 38 nursing homes received th

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Shareholders to vote on Gannett-GateHouse merger today

14-11-2019 12:16 via Boston Business News - Local Boston News | Boston Business Journal

The acquisition of the largest owner of newspapers nationally, Gannett Inc., by the parent company of the largest newspaper chain in New England, GateHouse Media, is scheduled for shareholder votes Thursday.
The chief executive of New Media Investments Group Inc. (NYSE: NEWM) said earlier this week the company remains "very excited” about closing the transaction even as the newsroom union criticized the deal, and despite a stock decline that means Gannett shareholders were receive signific

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Five things you need to know today, and what’s your superpower?

14-11-2019 12:15 via Boston Business News - Local Boston News | Boston Business Journal

Good morning, everyone. Will Deval announce today? Yes, he will. And here are the five most important things you need to know to get your workday started.Beacon Hill focuses on home health care
Lawmakers debated two bills yesterday that would help home health aides and at-home caretakers earn more money and have more stringent licensing requirements as part of a focus on the state's fastest-growing health care sector.Smith & Wesson parent splitsCiting the “political climate” rela

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Proskauer hands out $100k bonuses to senior associates

14-11-2019 11:50 via Boston Business News - Local Boston News | Boston Business Journal

It's annual bonus time again at the top of the legal industry.

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Kraft Group to open esports arena at Patriot Place

14-11-2019 11:44 via Boston Business News - Local Boston News | Boston Business Journal

Esports league Boston Uprising and Helix eSports will open an 18,000-square-foot esports complex at Patriot Place in Foxborough this January, marking the first gaming center adjacent to a major professional sporting venue, the Kraft Group said Wednesday.The Boston Uprising practice facility and Helix eSports gaming center will feature 100 gaming stations with personal computers, gaming and network infrastructure and 30 public gaming consoles open to the public. Kraft Group Overwatch owns and ope

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Subzero interest rates are luring insurers to risk

14-11-2019 11:34 via Boston Business News - Local Boston News | Boston Business Journal

A growing number of economists, regulators and former central bankers are warning that European insurance companies are among the market players most at risk of a meltdown because of all the negative-interest-rate debt.

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Dell Technologies sets ambitious 2030 goals around diversity, sustainability

14-11-2019 11:24 via Boston Business News - Local Boston News | Boston Business Journal

This week, Michael Dell and several high-level Dell Technologies Inc. executives revealed a list of 2030 "moonshot" goals during presentations at the 2019 Dell Technologies Summit.The three-day event by Texas-based Dell (NYSE: DELL) — the tech titan that employed nearly 9,000 people in Massachusetts as of 2017, mostly through its 2016 acquisition of Hopkinton-based EMC Corp. — is taking place in Austin. Here are three takeaways from the Nov. 13 talks.• Sustainability and climate

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Smith & Wesson parent company splits in two

14-11-2019 01:12 via Boston Business News - Local Boston News | Boston Business Journal

This story originally appeared on MassLive.com.Citing the “political climate” related to the gun industry and the willingness of banks, insurers and investors to back it, Smith & Wesson said Wednesday it will split from the outdoor products and accessories businesses of American Outdoor Brands Corp.Smith & Wesson changed its name to American Outdoor Brands (Nasdaq: AOBC) in 2016 as part of a diversification push — the opposite corporate strategy from the one announced W

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Licensing, wage supports sought for home care

13-11-2019 21:00 via Boston Business News - Local Boston News | Boston Business Journal

New licensing requirements and an increase in state funding for home care agencies would help both patients and workers in the state's fastest-growing health care sector, lawmakers and industry leaders said Wednesday.

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Behind the Boardroom Door: CEO compensation is all about pay and performance

11-11-2019 23:27 via Boston Business News - Local Boston News | Boston Business Journal

Determining the amount — and structure — of CEO compensation is one major challenge facing corporate boards and their compensation committees today, especially in a world of “Say on Pay” votes for shareholders demanding strong alignment between pay and performance. The National Association of Corporate Directors New England Chapter is making CEO compensation the focus of its next meeting in Waltham Nov. 12. Leading the event are Wendy Lane, Director of Willis Towers Watso

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Behind the deal: Why this company is buying its Cambridge competitor

11-11-2019 21:50 via Boston Business News - Local Boston News | Boston Business Journal

A Durham company says buying a Massachusetts competitor will enhance its line of business and provide a desirable client base in a booming life science region.

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Meet one of the state's 10,000 'super commuters'

11-11-2019 21:05 via Boston Business News - Local Boston News | Boston Business Journal

This article first appeared on MassLive.com.Six days a week, Ricarte Burgos wakes up at 3:30 a.m. to drive halfway across Massachusetts to get to work.Fortunately, the 40-year-old Springfield resident narrowly avoids the morning traffic jam along the Massachusetts Turnpike at that hour. But the journey carries with it considerable cost and sacrifices, and is fraught with variables including accidents on the highway and the availability of parking upon reaching his destination, among other things

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Waltham firm acquires Scottsdale real estate-focused software company

11-11-2019 20:42 via Boston Business News - Local Boston News | Boston Business Journal

With commercial property managers and building owners complaining how the RFP process is a “pain point,” Building Engines was on the lookout for a solution that would help make this process easier from beginning to end, and targeted the Valley firm to bring into the fold.

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Austin startup Swivel plans to enter Boston real estate market in 2020

11-11-2019 20:19 via Boston Business News - Local Boston News | Boston Business Journal

Swivel — founded by serial Austin entrepreneur Scott Harmon — is an office leasing platform where building owners make office space available for lease for terms of one to two years. It's planning to come to Boston in 2020.

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CEO of WEEI parent believes Wall Street undervalues company

11-11-2019 19:59 via Boston Business News - Local Boston News | Boston Business Journal

The radio station operator's stock has tumbled over the last 18 months, but gained some momentum after its most recent quarter.

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Drugmaker Amgen cuts a quarter of its Kendall Square research staff

11-11-2019 18:51 via Boston Business News - Local Boston News | Boston Business Journal

Just a few years after kicking off an expansion in New England, California drugmaker Amgen Inc. is laying off a quarter of its workforce in Cambridge.Amgen (Nasdaq: AMGN) disclosed in a state Worker Adjustment and Retraining Notification note late Friday that it will cut 149 people working in its Cambridge research facility. The Thousand Oaks, Calif.-based company currently has around 600 employees in Massachusetts and 21,000 employees worldwide, according to Business Journal data.The drugmaker&

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Canadian firm buys Carbonite in $1.42B deal

11-11-2019 16:49 via Boston Business News - Local Boston News | Boston Business Journal

Boston-based tech company Carbonite Inc. has agreed to be acquired by Canadian software company OpenText in a $1.42 billion deal.Carbonite, which provides subscription data protection, backup and security to businesses and consumers, is headquartered in Boston and has offices in Europe and Canada. The company (Nasdaq: CARB) employs 959 people, with 289 of those employees in Massachusetts."This acquisition will further strengthen OpenText as a leader in cloud platforms, complete end-point securit

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Durham taps Boston developer to revamp former police HQ

11-11-2019 16:02 via Boston Business News - Local Boston News | Boston Business Journal

Durham's City Council has chosen a Boston-based company to begin negotiations with the city for the proposed sale and redevelopment of Durham's former police headquarters.
After considering additional revisions to two competing proposals, the City Council voted unanimously earlier this month to begin talks with The Fallon Company, which also has offices in Raleigh, to purchase and revamp the property at 505 West Chapel Hill St.
The decision came a month after city staff initially recommended&hel

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MFS is finding investors willing to shun index funds

11-11-2019 12:44 via Boston Business News - Local Boston News | Boston Business Journal

The Boston asset manager is seeing net inflows into its funds, while some of its peers continue to struggle.

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Scott Brown will head to New England Law after New Zealand post ends

08-11-2019 21:08 via Boston Business News - Local Boston News | Boston Business Journal

Scott Brown will soon have a new gig in academia.
The U.S. ambassador to New Zealand and Samoa — and former U.S. Senator from Massachusetts, one of the few Republicans elected statewide in recent years — is leaving politics to become president and dean of New England Law, the Boston-based school said Friday.Brown, who lost his Senate seat to Elizabeth Warren in 2012, was nominated by President Trump to be a U.S. ambassador in 2017.Brown will replace President John O’Brien, who

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FDA approves Acceleron's blood disorder drug ahead of schedule

08-11-2019 20:20 via Boston Business News - Local Boston News | Boston Business Journal

The race to corner the market for a drug to treat a rare blood disorder escalated Friday, with the FDA signing off on a new drug from Cambridge’s Acceleron Pharma Inc. and its partner, Celgene Corp.The two drugmakers received early approval Friday for their drug to treat anemia in patients with beta thalassemia, an inherited blood disorder that leads to low levels of red blood cells and oxygen in the blood. The condition is fairly common throughout the world, according to the NIH, but is r

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Table of Experts: Building a Successful Business - Why Succession Planning Matters

08-11-2019 20:05 via Boston Business News - Local Boston News | Boston Business Journal

Mike Moran, Managing Partner & Senior Partner, CFG Broker Network, speaks with BBJ Market President Carolyn Jones about business owners growing their companies.CAROLYN JONES: Mike, tell us about the major focus of your work with business owners.MIKE MORAN: My major focus is to work closely with advisors helping business owners navigate some of the many complex issues and scenarios they deal with. Primarily, we work with business owners on navigating the tough financial decisions around

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6 tips for Boston businesses on how to recover from a ransomware attack

08-11-2019 19:08 via Boston Business News - Local Boston News | Boston Business Journal

Ransomware is a type of computer virus that can infect a system whenever a user clicks on a malicious link, visits a malicious website, or downloads a malicious file. In a ransomware attack, the hacker encodes data which can only be retrieved by paying a ransom and obtaining the encryption key used for decoding.As with most cybersecurity threats, the amount and severity of ransomware attacks are increasing annually. The U.S. Department of Justice has estimated that over 100,000 computers around&

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Immersive Labs raises $40M to expand cyber skills platform

08-11-2019 18:25 via Boston Business News - Local Boston News | Boston Business Journal

This story first appeared on BostInno.By 2022, there will be 1.8 million unfilled cybersecurity jobs globally. To help professionals close the gap on cybersecurity skills, Bristol, U.K.-based startup Immersive Labs — which has its U.S. headquarters in Boston — raised $40 million in funding led by global growth equity investor Summit Partners, with participation from existing investor Goldman Sachs.The startup claims it has created the world’s first fully interactive,

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Southborough medical device firm opens New Mexico manufacturing plant

08-11-2019 18:00 via Boston Business News - Local Boston News | Boston Business Journal

BioDirection Inc., a company working to commercialize tech for detecting injuries from trauma, recently moved its headquarters from New Mexico to Southborough in advance of its first product launch next year, but plans to keep its manufacture near its former location.The firm was founded in 2010 and was based in Oro Valley in New Mexico until two months ago, when it announced it was moving its headquarters to a 5,000-square-foot facility in Southborough. The company said it anticipates staffing&

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Wil Catlin talks horses, trees, vintage vehicles ... and real estate

08-11-2019 16:19 via Boston Business News - Local Boston News | Boston Business Journal

Wil Catlin, managing director and senior partner, Boston Realty Advisors, talks about his tree farm, antique car collection and the therapeutic nature of horseback riding.

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Some P&G employees have stopped shaving; here’s what Gillette is doing about it

08-11-2019 14:40 via Boston Business News - Local Boston News | Boston Business Journal

Some Procter & Gamble Co. employees are putting down their Gillette razors in observance of No-Shave November, an annual event created to raise awareness about cancer.

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Five things you need to know today, and my worst week of customer service ever

08-11-2019 12:42 via Boston Business News - Local Boston News | Boston Business Journal

Good morning, everyone. Here are the five most important things you need to know to get your workday started.If deal is struck, tariffs could roll backThe New York Times, with which the BBJ has a content partnership, reports that the United States and China have agreed that an initial trade deal between the two countries would roll back a portion of the tariffs placed on each other’s products, a significant step toward defusing tensions between the world’s largest economies.Suffolk D

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Turnover at the top of some of the largest retailers in Mass.

08-11-2019 11:48 via Boston Business News - Local Boston News | Boston Business Journal

Four of the 25 largest retailers that operate in the commonwealth made changes to their chief executives in 2019, including Stop & Shop, Sears, Rite Aid and Burlington. Find out more and check out the BBJ's list of the largest retailers in Massachusetts here.

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Unified rail is key for our region’s future

06-11-2019 01:41 via Boston Business News - Local Boston News | Boston Business Journal

For legions of commuters stuck in endless highway gridlock, or waiting for slow, infrequent and unreliable commuter trains, not to mention families trying to find affordable housing within reach of a job, the recent decision by the MBTA’s Fiscal and Management Control Board to embrace an ambitious restructuring of our antiquated commuter rail service, so as to provide fast and frequent service across the region, offers a welcome ray of hope after decades of ever-worsening conditions.Make n

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We're coming to work sick. Why?

05-11-2019 22:15 via Boston Business News - Local Boston News | Boston Business Journal

With cold and flu season under way, it's likely a number of people in your office will come to work when they should have stayed home. Staffing firm Accountemps found a whopping 90 percent of employees have come into the office while dealing with cold or flu symptoms. In a survey of 2,800 U.S. workers, one-third of respondents said they never stay home when they’re sick; 57 percent said they sometimes come into the office while ill. Of 28 U.S. cities, Charlotte, Miami,

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Abigail Johnson: ‘Few fund managers can match Fidelity’s totality’

05-11-2019 21:54 via Boston Business News - Local Boston News | Boston Business Journal

To call the Johnsons Boston royalty would only be inaccurate insofar as Fidelity’s founding family is wealthier than the Windsors, and even more private. Forbes estimates Ms Johnson’s fortune at more than $14bn, making her the 34th richest individual in the US.

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GE’s Culp makes rare appearance in Charlestown to welcome wind turbine blade

05-11-2019 21:01 via Boston Business News - Local Boston News | Boston Business Journal

A 107-meter blade — one part of a powerful offshore wind turbine — is now residing in Charlestown inside a state-owned facility that tests whether it can survive 25 years at sea.A celebration of the object's arrival drew a rare public appearance from General Electric Co. (NYSE: GE) CEO Larry Culp, since the Boston-based conglomerate’s $15 billion renewable energy business is building the Haliade-X 12MW offshore wind turbine.Danish wind energy giant Orsted has tapped GE Renewabl

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JPMorgan Chase hires Silicon Valley Bank leader in Boston

05-11-2019 20:44 via Boston Business News - Local Boston News | Boston Business Journal

The new hire will lead a new push by the financial services giant to cover the banking needs of venture capital firms.

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Maynard's flexibility with marijuana entrepreneur cited as example for others

05-11-2019 19:22 via Boston Business News - Local Boston News | Boston Business Journal

David Rabinovitz had been looking for a way to start a marijuana dispensary for a year, but ran into roadblock after expensive roadblock navigating the strict rules surrounding town approval and finding a business space.The chief executive of NewCann Group found real estate in Ware, but the town ultimately picked an operator willing to donate $15,000 to a local charity and pre-pay $50,000 in fees to the community. In Webster, the town let a landlord pick between two marijuana businesses. Rabinov

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‘One plus one equals three’: Here's why some tech companies are shifting toward co-CEOs

05-11-2019 19:13 via Boston Business News - Local Boston News | Boston Business Journal

Cambridge-based edX recently promoted its COO to co-CEO, joining WeWork, SAP and many Massachusetts-based companies with two occupants in the corner office. The non-traditional organizational structure provides a form of backup, but can also open the door to unclear visions and communication issues, experts say.

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5 things to consider before going on an ERP purchasing journey

05-11-2019 18:52 via Boston Business News - Local Boston News | Boston Business Journal

In today’s modern business environment, it is not uncommon to feel like your business is being held back by its technology. While you may feel poised for growth, you may not be focusing on the right efforts due to the necessary evil of time-consuming manual busy work like creating invoices, entering bills, recording payments, cutting checks, and reconciling bank accounts.If this scenario is even vaguely familiar, it’s a sign that it may be time to consider implementing or upgrading t

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Superior Court judge orders vape ban lifted for medical marijuana users

05-11-2019 18:39 via Boston Business News - Local Boston News | Boston Business Journal

A Superior Court judge ruled that Gov. Charlie Baker's emergency regulations banning the sale of all vaping products "are very likely invalid" as they relate to medical marijuana patients and ordered that the state may not enforce its prohibition on "marijuana vaping products to medical marijuana card holders" starting next Tuesday afternoon.

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Op-ed: What about a per-mile user fee in Mass.?

05-11-2019 18:34 via Boston Business News - Local Boston News | Boston Business Journal

Legislators began this past month to debate three separate bills that could raise the price of your daily commute. Meanwhile, Gov. Baker’s Commission on the Future of Transportation suggests that the commonwealth consider building brand-new toll highways. All promise they will alleviate congestion. These schemes would vary tolls according to the road’s value at a particular time of day. Currently, we allocate road space by asking people to wait in line — congested traffic. Subs

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‘Nobody believes’ Gannett-GateHouse merger projections, Leon Cooperman says

01-11-2019 19:37 via Boston Business News - Local Boston News | Boston Business Journal

Billionaire investor Leon Cooperman said Friday that “nobody believes any of the numbers coming out” regarding financial projections for Gannett Inc. after its merger with the parent company of GateHouse Media, which is expected to close this month.In an interview with the Business Journal, Cooperman cited the fact that the current stock price for New Media Investments Group (NYSE: NEWM), which owns GateHouse, is lower than expected for a company with similar earnings. The reason? Mo

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