Boston Business Journal articles from August 2001

Boston Business Journal archives from August 2001

Firms in cancer-starving drug race.(Brief Article)
August 3, 2001... Watertown's Oxigene among companies targeting tumors Since Boston's Dr. Judah Folkman earned international attention three years ago for his work on a cancer-fighting therapy called Endostatin, others have followed with their own versions...

Power politics.(Brief Article)
August 3, 2001... Plant-siting process seen as bureaucratically duplicative The Bay State's electricity deregulation law is widely credited with fixing a nearly insurmountable power plant permitting process, but developers say the process still needs...

Eastern Bank expands turf with Fantini & Gorga deal.(Brief Article)
August 3, 2001... Looking to expand its presence in the Boston real estate market, Eastern Bank has bought a majority interest in Fantini & Gorga Inc., a boutique commercial mortgage firm. The purchase this week will merge Fantini & Gorga's Boston-based...

VCs now seek more partners.
August 3, 2001... Venture capitalists don't want to be alone anymore. Recent venture funding deals show technology investors are going back to their old ways--syndicating deals, bringing in three, four, five and six firms as partners, spreading around the...

Longtime consultant to become Spaulding & SIye president.(James B. Karman)(Brief Article)
August 3, 2001... BOSTON--Richard H. Cross III has joined Spaulding & Slye Colliers as president alter serving as a consultant to the Boston-based real estate firm for more than 20 years. James B. Karman, president and chief executive officer since 1992, has...

Teradyne to pay $260 million for GenRad.(Brief Article)
August 3, 2001... BOSTON--Teradyne Inc., the nation's biggest maker of semiconductortesting equipment, agreed to buy GenRad Inc., a maker of circuit board-testing equipment, for $260 million in stock and assumed debt. Teradyne said the purchase will be...

American Tower has wider second-quarter loss; revenue rises.(Brief Article)
August 3, 2001... BOSTON--American Tower Corp., an operator of about 14,000 wireless-communications and broadcasting towers, reported a wider secondquarter loss after saying in June that lower revenue at its Verestar unit would hurt results. The loss...

Correction.(Phase Forward)(Brief Article)(Correction Notice)
August 3, 2001... Software by Phase Forward ("Phase Forward secures 'milestone' deals with pharmas," in the June 29-July5 issue of the Boston Business Journal) is being used in 140 clinical trials.

Severance benefits are being downsized.(Brief Article)
August 3, 2001... Local employment experts say shrinking severance payments for laid-off employees, including mid- and senior-level managers, is the dirty little secret of the current economic downturn. In some cases, severance payments for supervisors are...

High frequency.(Matt Mills)(Greater Boston Radio Group)
August 3, 2001... Radio group's general manager is tuned into profits and employees Matt Mills originally planned to break into the radio industry from behind the microphone as a sportscaster. He knew a general manager in the business who offered to...

Renewable energy regs short-circuited, critics charge.(Massachusetts' plan for renewable energy)(Brief Article)
August 3, 2001... Environmental groups say the state's plan to use more renewable energy for electricity generation is stuck on the drawing board, but the companies that supply electricity think that's just where the rules should stay. The 1997 electricity...

HMOs back bill to cover cost of clinical trials for cancer patients.(health maintenance organizations)(Brief Article)
August 3, 2001... In what could prove to be a boon for pharmaceutical firms and doctors running clinical trials here, the Bay State's health plans are backing a bill in the Legislature that would require them to cover the costs of cancer patients participating...

Gomez Inc. keeps going after the e-commerce fall.(Brief Article)
August 3, 2001... WALTHAM--When dot-corn fever took hold, Gomez Inc. charged onto the scene with all sorts of commentary and analysis on what worked and what didn't. In the aftermath of the e-commerce meltdown, Gomez itself is coming to terms with what works and...

GPC Biotech's strategy takes aim at multiple targets.(Brief Article)
August 3, 2001... WALTHAM--GPC Biotech Inc. is not exactly an easy company to pigeonhole. In general terms, it falls into the category of a genomics-driven drug discovery company, but GPC is going after a number of treatment areas, including cancer and...

Newly chartered Worcester bank seeks additional capital by Aug. 15.(Commonwealth National Bank of Worcester, Massachusetts)(Brief Article)
August 3, 2001... WORCESTER--Facing a tight private investment market, a group of Worcester-area businessmen hoping to establish a new bank in Massachusetts' second-largest city has hired an investment bank to help them raise capital. Commonwealth National...

Nortel's pullback puts suburban market on standby.(Nortel Networks)(Brief Article)
August 3, 2001... Telecommunications company to dump as much as 600,000 sq. ft. BILLERICA--The real estate industry is bracing itself for more bad news on the suburban front with the prospect of Nortel Networks Corp. dumping as much as 600,000 square feet of...

Funding flees from 'smoke and mirrors' business plans.(Technology Capital Network)(Brief Article)(Interview)
August 3, 2001... As the executive director of Cambridge-based nonprofit Technology Capital Network at Massachusetts Institute of Technology, Betty Kadis puts together a series of workshops, forums and roundtables for entrepreneurs in search of early-stage...

Market remains slow for telecom startup shopping.(Brief Article)
August 3, 2001... The sharply cut valuations of telecom-related startups might make them look like bargains, but that doesn't mean buyers are ready to resume shopping. In the late '90s, giants such as Cisco Systems Inc., Lucent Technologies Inc. and Nortel...

Contractors, union agree on need for safety training.(Brief Article)
August 3, 2001... The construction industry may be as safe as it's ever been, but industry and government oversight has been unable to reduce the number of workplace fatalities. A 29-year-old worker died March 20 after falling three stories while working on...

Egenera Inc. gets $30M in funding.(Brief Article)
August 3, 2001... MARLBOROUGH--Though barely a year old, Egenera Inc. has closed its second substantial round of funding in its quest to solve some of the problems it sees in data center infrastructure. The $30 million boost brings the Marlborough startup's...

Tyngsborough landmark inn for wine-lovers is sold.(Stonehedge Inn, Massachusetts)(Brief Article)(Statistical Data Included)
August 3, 2001... TYNGSBOROUGH--The ownership of the 36-acre Stonehedge Inn has changed hands. Lowell real estate developer Gil Campbell has sold his interest in the Tyngsborough property to Levent and Dawn Bozkurt. Levent Bozkurt helped Campbell open the...

Outdoor advertising climbing the walls--on garages.(Brief Article)
August 3, 2001... Marketing messages seem to be painted, wrapped or pasted onto an ever-increasing array of stationary and moving surfaces. Now advertisers are closing in on the walls of the city's parking garages. New York-based AdWalls LLC has been placing ads...

Mars comes down to earth.(Brief Article)
August 3, 2001... Cambridge-based Mars Productions Inc., a marketing company specializing in developing trade shows, sales presentations and meetings for high-tech companies, is heeding their clients' call for more cost-effective presentations. President...

Nonprofits reach out.(Brief Article)
August 3, 2001... Jewish Family & Children's Service of Boston is in the midst of a $200,000 positioning campaign, including billboards, advertising on subway and commuter rail lines, a brochure, newsletter and a web site makeover. Diane Nahabedian, director of...

Banding together.(Boston Public Relations Sole Practitioners Collaborative)(Brief Article)
August 3, 2001... Local independent public relations and marketing professionals are staking out a corner of the Public Relations Society of America Boston chapter's web page. Companies looking for a sole practitioner or a small agency can search the online...

Did the name change at Tofias have some legal angle?(Brief Article)
August 3, 2001... Professional journalism has been called the rough draft of history. I once had a boss who described journalism as a daily test of your knowledge and skill--with the results made public. Anyway you look at it, my July 6 financial notebook...

Vanishing act.(Brief Article)
August 3, 2001... If the rapid consolidation of the banking industry during the 1990s had your head spinning, the next few years should give you whiplash. A recent study by Stamford, Conn.-based Gartner Inc. said nearly half of the nation's 10,000 financial...

And the answer is.
August 3, 2001... Well, so tar there has not been a correct answer to my question from two weeks ago. The question was: Which Boston-area banker played baseball at Harvard with Cambridge Trust Co.'s James F. Dwinell III, the bank's former president, who recently...

Art Technology shares drop after earnings announced.(Art Technology Group Inc.)(Brief Article)(Statistical Data Included)
August 3, 2001... Art Technology Group Inc.'s earnings call last week gave Wall Street more of a peek inside what's happening at the Cambridge software developer, and Wall Street apparently did not like what it saw. Prudential Securities Research, New York,...

Actuality gets bridge financing.(Actuality Systems Inc.)(Brief Article)(Statistical Data Included)
August 3, 2001... Actuality Systems Inc., which is developing a 3-dimensional display technology secured close to $1 million in bridge financing to get the monitor the company is developing into beta testing. This funding, from an undisclosed private source, was...

Area's Best-Selling Domestic Automobiles.(Illustration)(Statistical Data Included)
August 3, 2001... Area's Best-Selling Domestic Automobiles (ranked by new cars registered in Mass. from May 31, 2000, to May 31, 2001) Automobile No. of registrations Rank Type(s) in Mass. 1 Ford...

Area's Best-Selling Imported Automobiles.(Statistical Data Included)
August 3, 2001... Area's Best-Selling Imported Automobiles (ranked by new cars registered in Mass. from May 31, 2000, to May 31, 2001) Automobile No. of registrations Rank Type(s) in Mass. 1 Toyota Camry ...

Activists drill dental profession as the mercury rises.(dental amalgams source of mercury in lakes)(Brief Article)(Statistical Data Included)
August 3, 2001... The mercury in the Bay State is high, but not because of the hot summer temperatures. Recently, the state Department of Public Health issued a warning that women and children shouldn't eat fish from lakes in Massachusetts due to high...

Bottled fluoride endorsed.(Massachusetts Dental Society)(Brief Article)
August 3, 2001... Speaking of dentists and water, the Massachusetts Dental Society last week came out and endorsed bottled-water products that include fluoride. This is a touchy subject because many suburban residents, most notably in Natick, have gone as far as...

Medical mall opens.(Brief Article)
August 3, 2001... When visiting the new medical mall in Holyoke, the one thing you won't hear is, "You want fries with that?" But you likely will hear more about these health centers that offer this type of approach to medicine, according to Rick Schmidt, a...

Nurses take it to the streets.(Brockton Hospital nurses strike)(Brief Article)(Statistical Data Included)
August 3, 2001... Just when you thought it was safe to serve on the board of trustees of a hospital.... It looks like the picketing nurses of Brockton Hospital are taking their show on the road, to demonstrate outside the houses of the hospital's trustees....

Out of Chapter 11, Corners Inc. talks about expansion.(Brief Article)(Statistical Data Included)
August 3, 2001... Corners Inc. has emerged from Chapter 11 bankruptcy protection. The announcement by the Framingham-based company comes just about a year after it filed the petition in United States Bankruptcy Court in Worcester. Corners is a specialty...

Stores to absorb dot-coms.(Kmart Corp., Wal-Mart Stores Inc., Staples Inc.)(Brief Article)
August 3, 2001... Two national retail giants are following the lead of Framingham-based Staples Inc. Both Wal-Mart Stores Inc. and Kmart Corp. announced last week that they would be acquiring full ownership of their dot-com businesses that have been...

Chico's has a fit in Wellesley.(Chico's FAS Inc. to open women's clothing store in Massachusetts)(Brief Article)(Statistical Data Included)
August 3, 2001... Chico's FAS Inc. is tentatively scheduled to open its seventh Massachusetts store in mid- to late-September. The new 3,582-square-foot store will be located at 56-58 Central St. in Wellesley. The Fort Myers, Fla.-based chain, which...

Going ape for souvenirs, 'Mountain' gets a monkey hat.(U.S. Boxing Federation champion Richie LaMontagne purchases helmet used in "Planet of the Apes" movie)(Brief Article)
August 3, 2001... Richie "the Mountain" LaMontagne was one of the winning bidders last week in a silent auction for "Planet of the Apes" movie props following the film's Boston premiere. The current U.S. Boxing Federation cruiserweight champion offered...

This doctor's on call.(Judah Folkman from Children's Hospital Boston, MA)(Brief Article)
August 3, 2001... Most people would think Dr. Judah Folkman takes limousines to work and has assistants screen his calls. Well, that's not so, as one reporter found out. You see, Folkman, a researcher at Children's Hospital Boston, has become...

Out on a limb.(Storage Networks Inc.'s VP of marketing John Clavin predicts company's revenues for 2001)(Brief Article)(Statistical Data Included)
August 3, 2001... Few are the corporate executives right now willing to predict their company's revenue for the next quarter or two. Refusals to give future guidance for earnings estimates are becoming as commonplace during quarterly report conference calls as...

Where it hurts.(Baldwin & Stone President Jim Baldwin gets role in "What's the Worst That Can Happen?" movie)(Brief Article)
August 3, 2001... Getting hit in the crotch with a tennis ball may be among the best things that have happened to Jim Baldwin recently. Baldwin, the president of Cambridge-based Baldwin & Stone, has a small, albeit painful, role in the "What's the Worst That...

Groups have lots of advice for the new chief of the SBA.(Hector V. Barreto Jr., U.S. Small Business Administration)(Brief Article)
August 3, 2001... Hector V. Barreto Jr. was sworn in July 27 as head of the U.S. Small Business Administration after being confirmed unanimously by the Senate. Barreto, who previously owned a financial services business in Los Angeles, avoided controversy by...

Poll shows workers think Bush favors businesses.(Brief Article)(Statistical Data Included)
August 3, 2001... A survey of American workers commissioned by the AFL-CIO found that 49 percent think the Bush administration cares more about protecting the rights of businesses than it cares about protecting the rights of workers. Around 35 percent felt...

GOP leaders push to make tax cuts permanent.(Brief Article)
August 3, 2001... House Republican leaders promised to push legislation to make this year's $1.35 trillion tax cut permanent. Because of what Rep. Christopher Cox, R-Calif., calls "Alice-in-Wonderland Senate rules," the tax cuts in the legislation will...

TVA best, NASA worst for new contractors.(Brief Article)
August 3, 2001... The Tennessee Valley Authority may be the best place to go for companies that want to enter the government contracting market. An analysis by Eagle Eye Publishers found that TVA awarded 30 percent of its $4.3 billion in prime contracts in...

Understanding taxes for new business owners Tuesday, Aug. 21.(Brief Article)
August 3, 2001... The Massachusetts Department of Revenue will present a free small-business workshop: Understanding Taxes for New Business Owners, at 60 Columbian St., Braintree, from 12:30 p.m. to 4 p.m. If you are starting a new business and want to learn the...

R.I. networking event--after hours in style Thursday, Aug. 23.(Brief Article)
August 3, 2001... The Smaller Business Association of New England will hold its annual after hours event at the historic 1786 John Brown house in Providence, R.I, from 5-7 p.m. The new fall schedule will be introduced and networking, refreshments and tours...

CEO forum comes for women entrepreneurs.(Brief Article)
August 3, 2001... The Commonwealth Institute, a LEO forum for women entrepreneurs will hold its monthly Million $ Circle membership meeting on Monday, Aug. 13, at Hill & Barlow I International Place 100 Oliver St., 20th floor/roof deck. Boston, from 6 to 8 p.m....

Bankruptcy reform clears the last hurdle.(Brief Article)
August 3, 2001... Creditors are close to victory in their four-year fight to toughen the nation's bankruptcy laws. The Senate cleared a procedural roadblock thrown up by bill opponents July 17 and sent the legislation--which easily passed both the Senate...

'Hog' wild.(Brief Article)
August 3, 2001... He may be a novice rider, but Mcycles' CEO knows how to customize your bike NEEDHAM--Wasseem Kabbara himself is not hell on wheels. He just hopes his business plan is. Kabbara is the soft-spoken chairman and chief executive of...

Collaboration: The realization a company can't go it alone.(Brief Article)
August 3, 2001... Collaboration is in the news a lot these days. From out of nowhere, collaboration has quickly become one of, if not the, hottest concepts in business today. It seems like everyone is talking about it. But, what's really interesting about...

Dr. Sigmund Riley's interpretation of the stock market.(Brief Article)
August 3, 2001... EDWARD "NED" RILEY Good morning. This is Dr. Sigmund Riley bringing you my interpretation of what's happening in the world's biggest psychodrama: the stock market. Please pardon me if I couch this (hee-hee) in the language of financial...

Staples Inc.(company management information)(Brief Article)
August 3, 2001... THE BUSINESS Staples Inc. is an office products distributor with a total of 1,307 retail stores located in the United States, Canada, the United Kingdom, Germany, the Netherlands and Portugal. In addition, Staples has catalog, electronic...

MASSACHUSETTS STOCK INDEX.(Statistical Data Included)
August 3, 2001... MASSACHUSETTS STOCK INDEX MARKET SCORECARD MOST ACTIVE STOCKS Volume EMC Corp. 81428 Analog Devices Inc. 20265 Genzyme Corp. 18029 Arch...

Shock therapy.(Brief Article)
August 3, 2001... Professionals begin to realize the value of helping foreign-born workers adapt to U.S. culture Seated in a restaurant, her head splitting from a headache, Mariana Cogan thought nothing about asking the waitress for painkillers. She was...

Image, soft economy take toll on attracting minorities.(Brief Article)
August 3, 2001... As a recruiter at the Boston-based executive placement firm of Isaacson Miller Inc., Monroe "Bud" Moseley recently helped a Boston advertising firm hire a new head of human resources. Despite an, economic downturn and layoffs at the firm,...

Choosing a moving company need not be harrowing.(Brief Article)
August 3, 2001... Moving is stressful enough without the added pressure of choosing a moving company. One thing's for sure: The choices can seem daunting. A good place to start would be to gathering names from other individuals or companies who have been...

Despite skyrocketing costs, the Hub remains attractive.(Brief Article)
August 3, 2001... Despite having some of the highest housing prices in the country, Boston remains a top draw for many professionals looking to relocate, say local executive recruiters. "I find that most people have an affinity for Boston," said Stuart...

Living in the lap of luxury--for the time being at least.(Brief Article)
August 3, 2001... Although not quite as crazy as a year ago, demand for upscale temporary housing in Boston remains strong. Witness the "soft opening" (no advertising) of the 63 residential suites at the new Ritz Canton at Millennium Place off Washington Street....

Resources abound to help you relocate.(Brief Article)
August 3, 2001... Spouse considerations, child care and housing play key roles in move The simple part: You know it's time to move your business to a different location. The problem is you don't know exactly how to go about it. Large corporations...

Regions take different tacks to lure firms to the Bay State.(Massachusetts)(Brief Article)
August 3, 2001... Consider this imagined advertising slogan designed to attract new businesses to Massachusetts: "Outside of cranberries, we have brains and money" Very Yankee, yes. Partly true? Also, yes. The comment, courtesy of Kevin O'Sullivan of...

An outside relocation firm can ease an employee's move.(Brief Article)
August 3, 2001... Whether it's a move across state or a move across town, it is easy to underestimate the daunting task of relocating an employee. Much is at stake, particularly in today's tight labor market. Whether transferring an existing employee to...

Now that the move is over, consider hiring a planner.(Brief Article)
August 3, 2001... To create the kind of space you want, the first task is to have a clear idea of what the workers who use that space do on a daily basis--not just "process mortgages" or "write computer programs," but really understand the work process and how...

PERSONNEL FILE.
August 3, 2001... ADVERTISING/COMMUNICATIONS PR Works of Norwell named Jennifer Tomasetti senior account manager. Stackpole & Partners of Newburyport promoted Kelly Shea Knowles to account supervisor and added Tracey Bowker and Kat Dobbins as account...

Woodchuck Draft Cider.(contract with Clarke Goward)(Brief Article)
August 3, 2001... Clarke Goward of Boston was awarded the account for Woodchuck Draft Cider, a divisian of Bulmers America Inc. of Natick. Billings are expected to be approximately $3 million over the next 12 months.

Strategic Intervention Associates Inc.(Brief Article)
August 3, 2001... Strategic Intervention Associates Inc. of Milton gained a new client in Reading, Pa.-based advertising consortium Second Wind Network, which will also help promote Strategic Intervention's involvement in the Business Best Year Yet program among...

Wellnitz Group.(contract with Abington Savings Bank)(Brief Article)
August 3, 2001... Wellnitz Group of Foxboro was named public relations agency of record for Abington Savings Bank, with initial, assingments including the launch of the bank's new Hanover branch, strategic planning with the bank's executive team, and outreach...

Tiffanie Williams & Co.(contract with X&O European Trattoria, Quincy, Massachusetts)(Brief Article)
August 3, 2001... Quincy-based Tiffanie Williams & Co. was chosen as agency of record for X&O European Trattoria, a restaurant, and cafe specializing in authentic Greek and Italian cuisine located in Quincy. The firm will handle public relations, advertising,...

Zebra Design LLC.(contract with New England Aquarium, Boston, MA)(Brief Article)
August 3, 2001... Zebra Design LLC of Rockland completed a new creative project for the New England Aquarium of Boston, consisting of five banners, each thanking a different institutional sponsor.

LingoMotors Inc.(LingoMotors Inc. contract)(Brief Article)
August 3, 2001... Boston-based Velocity completed a new corporate identity program for LingoMotors inc., a Cambridge-based high-tech firm.

Donlin Teleproduction Engineering Ltd.(web sites revamped)(Brief Article)
August 3, 2001... Donlin Teleproduction Engineering Ltd., a Watertown-based audio and video equipment rental and production engineering firm, celebrated its 15th anniversary by revamping its web sites, DonlinTE.com and BuyDonlin.com, which serve as an online...

Sylvan Business Center.(facility opening information)(Brief Article)
August 3, 2001... Groundbreaking ceremonies were recently held for the Sylvan Business Center in Danvers, located at the site of a former Osram Sylvania facility. The center's campus incorporates 15.2 acres and three connected building totaling 285,000 rentable...

Commercial Construction Consulting Inc.(company contract information)(Brief Article)
August 3, 2001... Commercial Construction Consulting Inc. of Boston was retained as the owner's representative for the development of a 315,000-square-foot multi-building shopping center at' the junction of Main Street and University Drive in Mishawaka, Ind. The...

Diversified Project Management Inc.(company contract information)(Brief Article)
August 3, 2001... Boston-based Diversified Project Management Inc. completed the relocations of both Pioneer Investment Management Inc., also of Boston, to its new 110,000-square-foot facility at One Cabot Road in Medford; and Hyster New England, a full-service...

ENSR International.(company award information)(Brief Article)
August 3, 2001... ENSR International, a Westford-based environmental consulting firm, was recognized for its wetland restoration projects with national and state awards from the Assistant Secretary of the Army and the Massachusetts Secretary of Environmental...

Quarry Technologies Inc.(company award information)(Brief Article)
August 3, 2001... Quarry Technologies Inc. of Burlington received an "Editor's Choice" award from Communications News magazine, in recognition of the company's new iQ4000 IP Service Edge Switch product.

Clarke Goward Design.(awards; includes Duncan Galvanizing)(Brief Article)
August 3, 2001... Boston-based Clarke Goward Design received a Gold Award at the recent One Show in New York, in recognition of the firm's creation of the 1999 Morgan Memorial/Goodwill Industries of Massachusetts Annual Report. Duncan Galvanizing of Everett...

DiMella Shaffer Associates's.(company award information)(Brief Article)
August 3, 2001... Contemporary Long Term Care Magazine recognized two of Boston-based architectural firm DiMella Shaffer Associates's senior housing projects with Order of Excellence Awards: The Summit at Brighton, located in Rochester,. N.Y.; and Edgehill by...

Einhorn Yaffee Prescott, Architecture & Engineering.(favorable mentions)(Brief Article)
August 3, 2001... Boston-based Einhorn Yaffee Prescott, Architecture & Engineering earned favorable mention on two industry lists, ranking 35th on The Zweig Letter's Hot Firm 2001 Ranking of The 100 Fastest-Growing U.S. Architecture/Engineering/Planning &...

Robotic Vision Systems Inc.'s.(company product award information)(Brief Article)
August 3, 2001... Canton-based Robotic Vision Systems Inc.'s new DT-8000 semiconductor packaging system received Advanced Packaging magazine's award for innovation in Packaging & Shipping/Distribution category.

Fuse Inc.(company award information)(Brief Article)
August 3, 2001... Fuse Inc., a Newburyport-based marketing firm, recently won three awards in international design competitions. The firm won two silver AXIEM Awards in the 2001 competition for both the Fuse company web site and the United Plastics Group (UPG)...

Massachusetts Housing Finance Agency.(agency bond rating)(Brief Article)
August 3, 2001... Standard & Poor's upgraded the bond rating for the Massachusetts Housing Finance Agency, based in Boston, from A+ to AA. The ratings affect approximately $1.5 billion in outstanding debt, and are expected to enhance the marketability of...