Boston Business Journal articles from April 2001

Boston Business Journal archives from April 2001

Wanted: Doctors.
April 27, 2001... Low reimbursements, high cost of living dim recruitment Boston is renowned for its prestigious teaching hospitals, but insiders fear its reputation may be slipping as the area continues to experience trouble recruiting doctors who can...

Bill would untangle state banking laws.
April 27, 2001... Massachusetts' banking laws stand to receive their first major overhaul in at least two decades, as the state Legislature considers a bill that would give state-chartered banks sweeping new powers while reducing the role of state regulators...

Dyax likely to grab 60,000 square feet at 300 Tech Sq.
April 27, 2001... CAMBRIDGE--Reinforcing the strength of the area's biotech market, Dyax Corp. is expected to take between 60,000 and 70,000 square feet of space at 300 Technology Square, several real estate sources said. At a time when the office market...

Class-action firm braces for SEC changes.
April 27, 2001... The long-standing war between law firms that consider themselves crusaders for shareholders and the companies they file securities fraud class-action suits against appears to be entering a new chapter under the Bush administration. ...

Reebok profit rises 30% in first quarter.(Brief Article)
April 27, 2001... CANTON--Reebok International Ltd., the No. 2 U.S. athletic-shoe maker, said first-quarter profit rose 30 percent to $41.2 million, or 68 cents a share, from $31.7 million, or 56 cents, a year earlier. Sales rose slightly to $769.9 million...

Terra Lycos to provide Enquirer, Star content.(Brief Article)
April 27, 2001... WALTHAM--Internet network Terra Lycos SA has signed a deal with Boca Raton, Fla.-based American Media Inc., publisher of the National, Enquirer, Star Magazine and Weekly World News tabloids, to provide breaking news and Hollywood gossip from...

Atlas closes $950 million venture fund.
April 27, 2001... Atlas Venture, an international venture capital firm based in Boston, said it has closed a $950 million fund, the largest in the firm's 31-year history. Christopher Spray, a senior principal with Atlas, said the fund, the firm's sixth,...

Patently legal.
April 27, 2001... Engineering, law degrees, helped Raytheon vet to reach law firm's top spot Even as he was embarking on a promising engineering career at Raytheon Corp., Peter Devlin couldn't stop thinking about an elective course in family law taken...

IBM sharpens verbal war against EMC's storage lead.
April 27, 2001... IBM Corp. last week escalated its data storage war of words with EMC Corp., claiming it is eating away at EMC's marketshare lead. "We watched our God-given marketshare of 75-80 percent be taken away from us, specifically by EMC," said Bob...

More tech companies join list of bankruptcy filings.
April 27, 2001... Filings by Bay State technology companies continue to pile up in U.S. Bankruptcy Court. This month alone, troubled tech companies have filed Chapter 7 or Chapter 11 petitions at a rate of about two per week. Boston-based HookMedia Inc....

Would-be gondoliers look to Charles.
April 27, 2001... A slice of Venice on the Charles River? An Acton couple wants to start transporting passengers along the waterway in authentic Venetian gondolas. Joseph and Camille Gibbons, owners of Gondola di Venezia LLC, will make their case next...

Lawyers expect boon in new privacy regulations.
April 27, 2001... Even though privacy regulations under the Health Insurance Portability and Accountability Act are now in effect, experts here say few in the health care industry are ready for it. In fact, many are still fighting them, and others wrongly...

Beacon Hill inaction could raise jobless premiums.
April 27, 2001... Employers may win their hard-fought battle to prevent unemployment insurance premiums from being diverted to pay for medical and family leave benefits, but at the same time they may still see their premiums rise, according to a leading Beacon...

Forrester shares plummet on earnings news.
April 27, 2001... Forrester should have predicted it. Investors ran for the hills this past week after Forrester Research Inc. released its first-quarter results and lowered its guidance for 2001. The Cambridge research firm, which made a name for itself...

ON THE FLY with Maureen Ford.(interview with John Hancock Funds CEO Maureen R. Ford)(Brief Article)(Interview)
April 27, 2001... Maureen R. Ford is vice chairwoman and chief executive officer of John Hancock Funds, a subsidiary of John Hancock Financial Services Inc. in Boston. Once best known for its bank fund, Hancock under Ford has grown quickly to include 36...

Energy climate fails to spark interest in utility shares.(Brief Article)(Statistical Data Included)
April 27, 2001... The ongoing turbulence facing technology stocks is driving investors to shelter their funds in other lines, but electric transmission companies like Nstar and National Grid don't appear to be on many investors' short lists. The stock...

Health insurers keep mum as state law adds to costs.(Massachusetts)(Brief Article)
April 27, 2001... Health insurers soon expect to be hit with additional costs from state regulations that recently took effect, but they're keeping atypically quiet about it, because the new rules helped the industry avoid more stringent regulations proposed...

Owens to launch litigation firm.(Henry Owens III)(Brief Article)
April 27, 2001... Well-known litigator Henry Owens III said he plans to open his own law firm this summer, taking most of the litigation department of the soon-to-be-dissolved firm of Lane, Altman & Owens LLP. Following last week's announcement that the...

Zurich Scudder reassigns 100 jobs to Boston office.(Zurich Scudder Investments)(Brief Article)
April 27, 2001... As some mutual fund companies are announcing job cuts, Zurich Scudder Investments said it will add 100 jobs to its Boston office. A Zurich Scudder official said the jobs would be created by reassigning fund analysts and their support staff...

ChannelWave lays off 90 while in growth mode.(ChannelWave Software Inc.)(Brief Article)(Statistical Data Included)
April 27, 2001... A Cambridge software developer that saw explosive growth last year and bought four other companies, this past week laid off 90 people, about 40 percent of its 230-member work force. The layoffs were the first at ChannelWave Software Inc....

New England eatery planned for Five Seasons site.(Fireplace, restaurant, Brookline, MA)(Brief Article)(Statistical Data Included)
April 27, 2001... BROOKLINE--He's an MBA with a passion for food who's opening his own restaurant this August at the site of a former one that went under. Thirty-six-year-old Jim Solomon has been negotiating around the finer points of bankruptcy to open...

Investors boost Top Layer morale with $8.3M in VC.(Top Layer Networks Inc., venture capital)(Brief Article)
April 27, 2001... WESTBOROUGH--Like other tech startups working in uncertain times, Top Layer Networks Inc. needed some more cash to see the company through to profitability. Unlike more and more of its counterparts, Top Layer got the money. The...

Blue chips back Paceline.(Paceline Systems Inc. financed by venture capital firms)(Brief Article)
April 27, 2001... CHELMSFORD--A new networking standard for interconnecting servers, storage systems and communications equipment is driving the development of Paceline Systems Inc. The startup, which was incorporated last August, has closed a $20 million...

Work to begin on $45M Mission Hill development.(Northland Development Co.)(Brief Article)
April 27, 2001... After six years of planning, a $45 million public-private development straddling the Longwood Medical Center area and Mission Hill is moving forward, with construction expected to begin as soon as this fall. One Brigham Circle, a joint...

Northland to become NDC Development.(Northland Development Corp., NDC Development Associates Inc.)(Brief Article)
April 27, 2001... NEWTON--Northland Development Corp. will relaunch itself next month as NDC Development Associates Inc. The change came about because of concern over confusion with Northland Investment Corp. Both companies are based in Newton but operate...

Weekend session to focus on planning of land use.(Boston Society of Architects)(Brief Article)
April 27, 2001... This weekend, Greater Boston will engage in something that critics say is all too rare: region-wide planning. Starting tonight, the Boston Society of Architects is hosting a weekend-long planning session, "How We Live: A Civic Initiative...

Studies to help Patriots tackle web site upgrade.(baseball team to relaunch site)(Brief Article)
April 27, 2001... The New England Patriots are running two studies of patriots.com, the team's web site. One involves thousands of site visitors who have been prompted to sign up and answer questions about site content and navigation. The team is offering...

China, Japan and Canada lead in holding United States' IOUs.(American 2000 trade deficit)(Brief Article)(Statistical Data Included)
April 27, 2001... Three countries were responsible for almost half of America's trade deficit during 2000. Goods imported from China, Japan and Canada last year were worth $215.6 billion more than U.S. exports to the same nations, according to a new...

Signing up for the cause--and maybe their paychecks.(Regan Communications' local transit email petition)(Brief Article)
April 27, 2001... If Boston ever gets 24-hour subway service, George Regan should get a subway station named in his honor for putting the city on the right track. Regan, spinmeister extraordinaire, has been working his firm's magic for the cause. It's no...

And speaking of the MBTA.(Massachusetts Bay Transportation Authority delays online)(Brief Article)
April 27, 2001... When it comes to useful web sites, the MBTA goes "Write to the Top!" The T, which is always on its toes (or should that be heels?), continues to offer up-to-the minute information about train service delays on its web site under "Transit...

A change of program.(ZDNet Inc.: dotcom one year later)(Brief Article)
April 27, 2001... What a difference a year makes. While holding forth as master of ceremonies this past Monday during the third annual MIT Sloan eBusiness Awards at the Massachusetts Institute of Technology in Cambridge, David Berlind offered some wry...

High-tech logo for old-line law firm helps 'set the course'.(Brief Article)
April 27, 2001... The 220 lawyers at Foley, Hoag & Eliot LLP set a new course on April 23. The Boston law firm rolled out its new logo, "Set the course," and branding plan in a day-long session of employee workshops and giveaways featuring the...

What will you bid for Rosie?(Horizons Initiative fundraiser)(Brief Article)
April 27, 2001... The Horizons Initiative, an independent nonprofit dedicated to providing services for Boston-area homeless children and their familes, has set Saturday, April 28, for its 12th annual Spring Gala. Among the more than 500 guest scheduled to...

Area's Largest HMOs.(Massachusetts members health maintenance organizations)(Brief Article)(Statistical Data Included)
April 27, 2001... Revised April 27, 2001 Area's Largest HMOs (ranked by Mass. members) [*] Mass. Rank Company ...

Don't ignore index funds, even in a down market.(Brief Article)
April 27, 2001... During the bull market of the '90s, index funds were one of the fastest-growing types of funds. Owners of S&P 500 index funds saw annualized returns of about 18 percent per year. With the market in the tank recently, that performance...

CORPORATE ALBUM.(PerkinElmer Inc. and NEN Life Sciences Inc.,)(Company Profile)(Statistical Data Included)
April 27, 2001... PerkinElmer Inc. THE BUSINESS PerkinElmer Inc., formerly EG&G Inc., is a global technology company that provides products and systems to the telecom, pharmaceutical, chemical, semiconductor, medical, aerospace and photographic...

MASSACHUSETTS STOCK INDEX.(Illustration)(Statistical Data Included)
April 27, 2001... MASSACHUSETTS STOCK INDEX Ticker Close Pct. 52-week Company Symbol Price Chg. High A. D. Technologies Inc. ADTC...

Where will Neal Finnegan begin again?(Brief Article)(Statistical Data Included)(Interview)
April 27, 2001... It wasn't that long ago that Neal Finnegan was one of the most closely watched bank presidents in the Boston area. Part of the reason was that he ran UST Corp., which, with Finnegan's "Best Buy" strategy, swam against the industry's...

Turnaround at Mass. Fincorp.(Massachusetts Fincorp Inc.)(Brief Article)(Statistical Data Included)
April 27, 2001... It's been a rough year for Massachusetts Fincorp Inc., the holding company for Massachusetts Cooperative Bank, a small, $115 million thrift out in Quincy. But lately, the bank appears to be heading toward profitability, having posted a...

Ruthardt Redux.(Insurance Commissioner Linda Ruthardt)(Brief Article)
April 27, 2001... Before Jane Swift even became acting governor, she made headlines with reports that she intended to sack a number of her predecessor's appointees. Don't look for controversial Insurance Commissioner Linda Ruthardt to go anywhere, though. ...

Area's Toughest Public Golf Courses.(Illustration)(Statistical Data Included)
April 27, 2001... Area's Toughest Public Golf Courses (ranked by slope rating and total yardage) [*] Men's USGA rating ...

Revere diner dispute prompts action in the Legislature.(Brief Article)
April 27, 2001... Cities and towns would have the right to limit the hours of restaurant operations if legislation filed by state Rep. Robert A. DeLeo, DRevere, makes it through the House and Senate. Problem is, "Everybody thinks they can, and they do it...

Fairfield Inn to open in Marlborough this month.(Brief Article)(Statistical Data Included)
April 27, 2001... Washington, D.C.-based Marriott International Inc. will open a 105-room Fairfield Inn in Middleborough this month. Owned by Olympus Real Estate Corp. of New York City, the hotel at 4 Chalet Road will be operated as a Marriott franchise....

Digital culture subject of Breakfast of Champions.
April 27, 2001... Thursday, May 3: The Commonwealth Institute, a nonprofit organization that helps women entrepreneurs and CEOs grow their businesses, will host its fourth annual Breakfast of Champions at the Fairmont Copley Plaza at 9:30 a.m. Rosabeth Moss...

Entrepreneurs' financing roundtable coming up.
April 27, 2001... Tuesday, May 8: The Technology Capital Network will sponsor an entrepreneurs' financing roundtable at the MIT Faculty Club, 50 Memorial Drive, Cambridge, from 7 to 9:45 a.m. The session will address questions on raising equity investment and...

Learn how to weather the economic storm.
April 27, 2001... The MIT Enterprise Forum of Cambridge, a resource for entrepreneurs and emerging businesses, will present its spring workshop, titled, "Weathering the Storm: What To Do When It's Not Raining Money." on Saturday, May 12, at the Burlington...

Entrepreneurs wanted.(Brief Article)
April 27, 2001... The Boston Business Journal is always looking for interesting stories about entrepreneurs. If you know about a young company of interest, then contact the BBJ. Nearly all fields of business are considered, including high-tech, manufacturing,...

Boost energy, clean up tech on Congress' 'to do' list.(Brief Article)
April 27, 2001... WASHINGTON, D.C.--Energy price hikes and supply troubles are not confined to California's electricity crisis. Small businesses in the Northeast, Midwest and Northwest are also feeling the pinch of escalating energy bills. Congress is now...

Got cookies?(600 LB Gorillas)(Brief Article)
April 27, 2001... Husband-and-wife team aims for sweet success with a Gorilla on their backs WRENTHAM--Some people will do anything for dough. Take Paula and Chris White, who at least once a week set up a makeshift bamboo hut and put on safari...

Inspectional service dept. is ready to help with 'CTA' regs.(compliance through assistance (CTA) program)(Brief Article)
April 27, 2001... Food establishment businesses across the Commonwealth of Massachusetts are presently working under new food safety and service regulations because the state recently adopted the federal food code for the first time ever. Adopting the...

Technology promises to bring doctors, patients closer.(Edgewater Technology Inc.)(Brief Article)
April 27, 2001... Technology promises to make health care more efficient. At least that is one of the main reasons the Health Insurance Portability and Accountability Act (HIPAA) was passed in 1996, requiring health care providers to convert their billing and...

Breast cancer outreach programs get grants.(Beth Israel Deaconess Medical Center)(Brief Article)
April 27, 2001... Boston Medical Center and Beth Israel Deaconess Medical Center, in conjunction with Dana Farber Cancer Institute, have received a grant to hire a community outreach coordinator to educate minority communities about breast cancer. The...

Mum's the word on EMC's acquisition of FilePool NV.(Brief Article)
April 27, 2001... Officials at EMC Corp. are not saying what their plans are for FilePool NV, the Belgian software development company the Hopkinton data storage equipment company bought two weeks ago. EMC is not divulging what software the company bought...

Not much news here, either.(Natural MicroSystems Corp.)(Brief Article)
April 27, 2001... Natural MicroSystems Corp. of Framingham, which develops technology for voice web services and voice portals, bought Mobilee Inc. of Boston last week for an undisclosed amount. Natural MicroSystems will merge the companies' technologies...

Axcelis makes $10M sale to Israel-based company.(Tower Semiconductor Ltd.)(Brief Article)
April 27, 2001... Beverly-based Axcelis Technologies Inc. sold $10 million of its semiconductor implant equipment to Tower Semiconductor Ltd. of Migdal Haemek, Israel, the company announced this past week. Axcelis will install its implant platforms at the...

TeraConnect gets ready.(Brief Article)
April 27, 2001... When Lockheed Sanders Inc. of Nashua, N.H., spun off TeraConnect Inc., also of Nashua, last fall, company officials refused to say what technology the company would be developing. But it had $40 million in venture capital with which to build...

Excelergy reports results.(Brief Article)
April 27, 2001... Excelergy Corp. of Lexington ended its first quarter this year with its highest revenue yet in its three-year existence, the company announced last week. Revenue was up over 50 percent in the first-quarter 2001 compared to fourth-quarter...

Area's Toughest Private Golf Courses.(Illustration)
April 27, 2001... Area's Toughest Private Golf Courses (ranked by USGA rating and total yardage from blue tees) [*] Men's ...

Congress to grill Pentagon over China beret contracts.(Brief Article)
April 27, 2001... Now that China has released the crew of a U.S. Navy spy plane, the U.S. Department of Defense faces hostile fire from Congress over its decision to award Chinese companies a contract to make berets for American soldiers. The House Small...

Online privacy law seen as costly for children's sites.(LookSmart Ltd.)(Brief Article)
April 27, 2001... Three web site operators agreed to pay a total of $100,000 in fines after the Federal Trade Commission accused them of violating the Children's Online Privacy Protection Act by collecting personally identifying information about kids without...

Fed: Credit card usage rising at small firms.(Federal Reserve Board survey)(Brief Article)
April 27, 2001... An increasing number of small businesses rely on credit cards, according to a new Federal Reserve Board survey. The Fed found that 45 percent of the 3,561 small-business owners it surveyed used personal credit cards for business purposes...

As the patent world turns.(Brief Article)
April 27, 2001... International IP landscape undergoes changes For companies eager to protect their inventions--not only in the United States but around the world--the good news is, change is afoot. The bad news is that it takes a long time for...

New technologies spur new challenges in IP law.(Brief Article)
April 27, 2001... Few people a decade ago could have predicted the rise of Napster. The online music-swapping service used by some 70 million people is the most prominent example of how new technologies have changed the battle to protect intellectual property,...

Protect your revenue stream.(Brief Article)
April 27, 2001... After a decade-long winning streak that sports teams can only dream about, the national economy is finally losing some of its steam. For companies across the country, the slowdown signals the start of a search for new revenue streams as...

Dot-coms fueled rise in patents, but slowdown seen.(Brief Article)
April 27, 2001... In the past decade, the number of patent applications has nearly doubled at the U.S. Patent and Trademark Office. One of the reasons for this surge, according to intellectual property law experts, is the growing number of companies rushing to...

IP lawyers don't fear softening economy.(Brief Article)
April 27, 2001... Demand still high for attorneys with patent, trademark expertise Despite the dramatic slowdown in the economy in recent months, the demand for lawyers specializing in intellectual property--one of the fastest-growing legal practice...

HIPAA compliance can help preserve your company's health.(Brief Article)
April 27, 2001... Software companies, consultants and other businesses providing services to health care providers, beware: If you handle personal medical information in any form, you may be subjecting your company to significant civil and criminal penalties...

Parody and intellectual Property make uneasy bedfellows.(Brief Article)
April 27, 2001... What do MasterCard's "priceless" advertising campaign and the purple dinosaur named Barney have in common? They both claim to be trademarks--technically, trade dress. And both were recently parodied with impunity, despite their owners' best...

E-Sign Act prompts beginning of transition to 'cyberdeals'.(Brief Article)
April 27, 2001... Last year, at the height of the supposed e-commercialization of global business, President Clinton signed into law the Electronic Signatures in Global and National Commerce Act, more commonly known as the E-Sign Act. The first law of its...

New law on the books: Is it 'uniform,' or trap for the unwary?(Brief Article)
April 27, 2001... The National Conference of Commissioners on Uniform Laws adopted the Uniform Computer Information Transactions Act in July 1999. The act is a substantive contract law statute that develops a legal, framework for computer information...

Boston on the Record.(Brief Article)
April 27, 2001... PERSONNEL FILE Compiled by Sean McFadden ADVERTISING/COMMUNICATIONS Clarke & Co. of Boston named Jon Spampinato group manager of its public affairs practice. Lauren Birmingham, principal of Birmingham Associates...

Lifeline Systems.(Brief Article)
April 27, 2001... Lifeline Systems of Framingham was honored as the 2001 Small Business of the Year by the American Society on Aging, in recognition of the company's work as a provider of personal response and support services for older adults living alone.

Einhorn Yaffee Prescott, Architecture & Engineering PC.(Brief Article)
April 27, 2001... Boston-based Einhorn Yaffee Prescott, Architecture & Engineering PC received a Best Entertainment Venue Award from Intcriors magazine, in recognition of the firm's design of the 25,000-square-foot Nasdaq MarketSite in Times Square.

Tepperman/Ray Associates Inc.(Brief Article)
April 27, 2001... Tepperman/Ray Associates Inc. of Andover was a silver winner in the 2001 Summit Creative Awards competition, acknowleding the company's work on the 1999 Annual RePortal for client Lightbridge Inc. of Burlington.

Massachusetts Office of Travel and Tourism.(Brief Article)
April 27, 2001... The Massachusetts Office of Travel and Tourism, based in Boston, handed out "Friend of the Tourism Industry" Awards to the Economic Development Council of Western Massachusetts, Jeannie Hebert of Shrewsburybased Hebert Candies Inc. and Sen....

Integrated Development Enterprise Inc.(Brief Article)
April 27, 2001... Integrated Development Enterprise Inc. of Concord was named to the Managing Automation publication's 2001 "Top 25 Emerging Companics" list, recognizing top emerging software, service and hardware providers that are focused primarily or...

Bay State Federal Bank.(Brief Article)
April 27, 2001... Bay State Federal Bank of Brookline was named Busincss of the Year by the Walpole YMCA, in recognition of the bank's ongoing commitment to the Walpole community. The bank has been active in supporting both the area's "Concerts on the Common"...

IBM Corp. to buy Mainspring for $80 million in cash.(Brief Article)
April 27, 2001... Cambridge-based Internet consultant Mainspring Inc. has agreed to a purchase by Armonk, N.Y.-based IBM Corp. for about $80 million in cash, or $4 a share. IBM said the acquisition is intended to expand its line of consulting services. ...

Informix to sell database business to IBM for $1B.(Brief Article)
April 27, 2001... Westborough-based database and software company Informix Corp. said it will sell its database subsidiary to IBM Corp. for $1 billion in cash. Upon the closing of the transaction, which is expected to be in the third quarter, 20-year-old...

Greylock raises $1B fund for early-stage startups.(Brief Article)
April 27, 2001... Boston-based Greylock Partners, a 36-year-old venture capital firm that backed Ascend Communications Inc., Red Hat Inc. and DoubleClick Inc., has raised a $1 billion fund for investments in fledgling technology startups. Investors in...

Sapient to hire 285 in India, but cut 720 jobs globally.(Brief Article)
April 27, 2001... Cambridge-based Internet consultant Sapient Corp. said it plans to hire as many as 285 new employees in India this year, even as it plans to lay off about 20 percent of its work force because of slowing sales. The company plans to expand...

Raytheon to lay off 100.(Brief Article)
April 27, 2001... Lexington-based Raytheon Co. will lay off about 100 workers at its Andover campus effective Friday, a spokeswoman said. The cuts will take place both at the company's manufacturing facility and at its cellular phone components division....

Aspen Technology to let go of about 100 employees.(Brief Article)
April 27, 2001... Cambridge-based Aspen Technology Inc., a software developer, said it will lay off 5 percent of its work force, or about 100 of its 2,000 employees, to reduce operating expenses. The cuts, the majority of which will take place in the company's...

MKS lets go of about 127, revenue drops 23 percent.(Industry Trend or Event)
April 27, 2001... Andover-based MKS Instruments Inc., an instrument supplier to the semiconductor industry, said it laid off approximately 127 employees, or 6 percent of its work force, as it reported revenue dropped 23 percent from fourth-quarter 2000.