Boston Business Journal articles from June 2001

Boston Business Journal archives from June 2001

Biotech cos. face capacity crunch.(Brief Article)
June 1, 2001... Firms scramble to build new manufacturing facilities Biotechnology companies are running out of manufacturing-capacity for large-molecule drugs to the point where many are calling it a crisis. Demand for manufacturing space already...

Towering demand.(Brief Article)
June 1, 2001... Some say 33 Arch St. tower anticipates downtown growth For the last several months, the landscape hasn't looked too rosy for new office tower construction. But things are looking up for 33 Arch St., the 600,000-square-foot office tower...

Some law firms trim summer associate pool.(Brief Article)
June 1, 2001... Amid whispers of concern about corporate law work in the current shaky economy, a few of the city's top law firms have pulled back on summer associates this year, but many claim hiring is undisrupted. Two of the city's top firms, Hale and...

Group wants teeth in cost-benefit requirement.(Associated Industries of Massachusetts)(Brief Article)
June 1, 2001... In 1996, Massachusetts launched a sweeping bureaucratic and regulatory overhaul in what is widely considered one of the nation's most ambitious programs to reduce state government. Yet, five years later, questions have been raised about the...

Sonus files shelf to sell $1 billion in securities.(Sonus Networks Inc.)(Brief Article)
June 1, 2001... WESTFORD--Sonus Networks Inc., a provider of telecommunications switching equipment, has filed with the U.S. Securities and Exchange Commission to sell as much as $1 billion in securities. The company will be able to sell debt securities,...

OmniSonics gets $21M in Second-round funding.(Brief Article)
June 1, 2001... WILMINGTON -- OmniSonics Medical Technologies Inc., a surgical device firm, said it closed $21 million in a second round of financing led by Rowayton, Conn. based Canaan Partners. The new funding brings to $26.7 million the total financing...

Ariad reports advances in cancer, cell therapies.(ARIAD Pharmaceuticals Inc.)(Brief Article)
June 1, 2001... CAMBRIDGE--Ariad Pharmaceuticals Inc. said it will report major advances in the treatment of cancer and genetic and immune diseases based on its gene regulation technology at the annual meeting of the American Society of Gene Therapy, which...

Clarifications.(Brief Article)
June 1, 2001... In the article "Study: Crisis in hospitals' costs has multiple factors" (in the May 25-31, 2001, edition of the Boston Business Journal). the national average expenditure per patient in the United States should have been $3,760. The spending...

DARNELL WILLIAMS: A league of his own.(National Urban League)
June 1, 2001... Urban League's president brings corporate and community experience He's barely a week into his new post, but Darnell Williams already has an impressive start to his business card collection. He rattles off the names: all CEOs he's met in...

Telemarketer bill remains on hold.(Brief Article)
June 1, 2001... A bill that even its opponents concede has universal appeal faces an uphill battle at the State House--and no one really knows why. The idea--to place tough limits on telemarketers--would appear to have broad support, as most people can...

Law firms up leases at Trade Center West.(Foley, Hoag and Eliot)(Brief Article)
June 1, 2001... In another positive sign for the downtown real estate market, two Boston-based law firms anchoring the World Trade Center West building are taking nearly 80,000 additional square feet. Foley, Hoag & Eliot LLP will take an additional 58,000...

Woburn businesses want old station back on track.(Brief Article)
June 1, 2001... WOBURN--While the state's transportation agencies are hailing a new Woburn commuter rail station for its ample parking and easy access from two highways, some local businesses say cutbacks in service at the original Woburn stop is hurting their...

With an eye to Asian markets, Basis secures $7.5M.(Basis Technology Corp.)(Brief Article)
June 1, 2001... Based on a projection that the number of Internet users in Asia will grow four times, to 240 million, by 2005, American technology and software companies are looking to the Asian markets for growth opportunities, especially with the U.S....

LifeClips lands $12.2M in VC.(Brief Article)
June 1, 2001... An Acton company that converts consumers' home videos to DVDs for $30 per two-hour videotape has pulled in a $12.2 million investment from St. Paul Venture Capital of Minneapolis and Sarnoff Corp. of Princeton, N.J. LifeClips Inc., which...

Index to take pulse of quality of life for docs.(Brief Article)
June 1, 2001... WALTHAM--So how bad do doctors really have it these days? Well, the Massachusetts Medical Society is planning to find out. The Waltham-based association, which boasts more than 17,000 doctors and residents as members, is designing an index...

Lowell students try to lure retailers.(Lowell, Massachusetts)(Brief Article)
June 1, 2001... A group of Lowell students has collected thousands of signatures for a petition to lure retailers to its city's downtown. Although the high school and college students support any business offering a variety of food, music and...

ON THE FLY with Carl Yankowski.(Palm Inc.)(Brief Article)
June 1, 2001... Carl Yankowski, chief executive officer of Palm Inc. of Santa Clara, Calif., since December 1999, lives in Massachusetts and brings to Palm a management and marketing background he acquired as the chief executive officer of apparel business for...

Salon owner uses solar panels to trim gas bills.(Fresh Hair)(Brief Article)
June 1, 2001... A beauty salon owner seeking relief from high natural gas bills has signed up her business as the first participant to take advantage of an energy-saving water heating program designed for and marketed to homeowners. Joy Silverstein, who...

Guardent takes in $20M in VC; will buy R.I. firm.(venture capital)(DefendNet Solutions Inc.)(Brief Article)
June 1, 2001... WALTHAM--Guardent Inc. has taken in $20 million in new funding and reached a deal to acquire a Rhode Island company. Guardent, which offers services focused on digital security technology, has raised about $50 million in equity and debt...

Kodiak closes early-stage VC fund at $290 million.(Kodiak Venture Partners)(Brief Article)
June 1, 2001... CONCORD--Kodiak Venture Partners, a seed and early-stage venture capital firm, said it has closed a $290 million fund to invest in communications and high-technology companies. At close to $300 million, it reflects the new reality in the...

Manulife enters education market.(Manulife Financial Corp.)(Brief Article)
June 1, 2001... Manulife Financial Corp., the Canadian insurance giant, said it has entered the lucrative college savings market, an effort that will be overseen by a newly created unit based in Boston. With this new initiative, Manulife joined Fidelity...

Law firm signs on as first tenant at 303 Congress St.(Casner and Edwards L.L.P.)(Brief Article)
June 1, 2001... The new 303 Congress St. has landed a law firm as its first tenant and, given the building's location near the federal courthouse on Fan Pier, the building is expected to attract more legal firms. Casner & Edwards LLP, a Boston-based law...

Performix calls on the U.S.(Performix Technologies)(Brief Article)
June 1, 2001... When it comes to call centers--those rooms filled with headset-wearing telemarketers sitting in cubicles dialing up potential customers--the United States is the mother lode, with about 85 percent of the centers in the world located here. ...

Surebridge takes in new funding.(Brief Article)
June 1, 2001... LEXINGTON--Application service provider Surebridge Inc. has secured $15 million in new funding and $5 million in debt financing. The new funding, which is Surebridge's second institutional round, will go toward building the company's sales...

A candid answer on cancer from unassuming warrior.(Dr. Judah Folkman)(Brief Article)
June 1, 2001... If you were sitting next to Dr. Judah Folkman on the T, you probably wouldn't know he's the man many credit with discovering a way to stop cancer. But Folkman, who is doing research at Children's Hospital Boston, has been gaining newfound...

The voice of experience.(Technology Capital Network)(Massachusetts Institute of Technology)(Brief Article)
June 1, 2001... Startups looking to woo early-stage investors made quick pitches at a forum last week sponsored by Technology Capital Network at MIT (TCN). Master of ceremonies Robert Crowley urged hopeful entrepreneurs to be patient. "If you have a good...

Clippy takes his final bow.(Microsoft Corp.)(Angel Flight)(Brief Article)
June 1, 2001... The few Microsoft Office users sad to see the demise, or rather, retirement of Clippy, the, as it turned out, not-so-lovable online administrative assistant, had the chance to have their photos taken with a life-size replica for charity...

House exempts small-biz Superfund suits.(Brief Article)
June 1, 2001... Lobbyists from the National Federation of Independent Business shook the hand of Rep. John Shimkus, R-Ill., after the House Energy and Commerce Committee unanimously approved a bill that would exempt most small businesses from liability for...

Timely advice.(Meredith Patterson Associates)(Brief Article)
June 1, 2001... Meredith Patterson Associates navigates through elder care issues CONCORD--Pat Hawkins' mother suffered from Alzhemier's disease, and her father had a type of dementia. Hawkins needed help. Hawkins wanted someone to help her sort through...

Convention center foe has reservations about hotels.
June 1, 2001... How much of a problem will the area's lack of affordable hotel rooms pose for the Boston Convention & Exhibition Center? Ask any proud parent who has traveled into town for their child's college graduation how much fun it was finding a place to...

Korean firms meet Stoneham.(Brief Article)
June 1, 2001... If you think office rental rates are crazy here, you should see... Seoul? The Republic of Korea's Ministry of Information and Communication is opening a 9,100-square-foot office in Stoneham that it will use as an incubator for Korean...

Shelter holds benefit auction.(Brief Article)
June 1, 2001... Last year, Shelter Inc. of Boston raised a total of $250,000 to combat homelessness. Organizers held their annual fund-raiser this week and hoped to beat last year's total by auctioning off the original artwork of more than 50 Boston area...

Area's Largest Health & Fitness Clubs.(Illustration)
June 1, 2001... Area's Largest Health & Fitness Clubs (ranked by number of Mass. members) No. of Mass. locations Rank Company Members Total Mass....

Davis: The 'new economy' is nothing but 'hogwash'.
June 1, 2001... Though not a fresh message, the messenger gave it fresh resonance. Bob Davis, the former boss of the former Lycos, stood in front of a ballroom full of ground troops in what is too often called the Internet revolution and, in an indirect way,...

Pelago Networks closes scaled-down finance deal.(Brief Article)
June 1, 2001... Marlborough's Pelago Networks Inc. thought it had closed a deal for $12 million in debt financing. It ended up with one for $7 million. Since April, when the financing arrangement was being finalized, Comdisco Ventures of Menlo Park,...

Wildfire Communications blazes into Waltham.(Brief Article)
June 1, 2001... Wildfire Communications Inc. is spreading. The company is taking up residence in a 65,000-square-foot building in Waltham, leaving behind a 27,000-square-foot office in Lexington. Wildfire is best known for making personal-assistant...

Astral Point gains newest certification standard.(Brief Article)
June 1, 2001... Chelmsford's Astral Point Communications Inc. has won ISO 9001: 2000 certification, a new standard that reviews a company's operations from top to bottom. In addition to manufacturing, auditors reviewed Astral Point's practices in...

Area's Largest Export Companies.(Illustration)
June 1, 2001... Area's Largest Export Companies (ranked by waterbound 20-foot equivalent units exported from Mass.) [*] TEUS [*] Estimated value Rank Company Tons Shipments 1 ...

Brain experts give us something more to think about.
June 1, 2001... What is the brain? Well, in the early 19th century, it was thought to be "a bag of fluid" or a "pulpy substance," according to Dr. Gary Belkin, a psychiatrist at Massachusetts General Hospital. But since then, we've been able to determine how...

The market: Just a walk in the (amusement) park.
June 1, 2001... Now, I'm as brave as the next person. I've even been known to relish a ride at the amusement park. So maybe it's just my generation, but the new breed of rides seems to have been invented for people from outer space. There's this new ride...

Forrester Research Inc.
June 1, 2001... THE BUSINESS Forrester Research Inc. is an independent emerging technology research firm that conducts research and analysis on the impact of emerging technologies on business, consumers and society. The company provides its clients with...

MASSACHUSETTS STOCK INDEX.
June 1, 2001... Ticker Close Pct. 52-week Company Symbol Price Chg. High A. D. Technologies Inc. ADTC 0.50 -- 2.00 Abington Bancorp Inc. ...

Educated architecture.
June 1, 2001... Builders eye healthy market for campus construction as colleges gain students and strengthen financial muscle Buoyed by an enrollment surge and growing endowments, colleges and universities are accounting for a growing chunk of the demand...

Buyer's representatives gain momentum in the Bay State.
June 1, 2001... Homebuyers don't have much negotiating power these days. Inventory is low and competition is high, leaving many would-be homeowners scrambling to get their dream homes somewhere close to their price range. Buyers, however, have one option...

Commercial real estate maintaining its robust status.
June 1, 2001... While others overbuilt, Hub's entry barriers kept it space-starved, experts say There's the direct vacancy rate, and then there's the available vacancy rate. Although the latter has crept up in recent months, the Greater Boston commercial...

Flexible leases: Signs of a softening rental market?
June 1, 2001... Tenants may have an easier time negotiating their real estate terms Mitsubishi Electric & Electronics USA Inc. wanted something less than what a standard lease specified: a three-year term instead of the usual five. "We have seen great...

Developers go 'green' in their designs, construction.
June 1, 2001... Earth-friendly materials, techniques all the rage Some people think of environmental issues as short-term issues, says Jane Beaudry, corporate safety and environmental director at Boston-based construction firm Beacon Skanska. But they're...

Do the due diligence before signing on the dotted line.(Brief Article)
June 1, 2001... Anyone who has ever been involved in financing a real estate transaction, be it as a lender or borrower, has probably experienced the complexities involved in judging a property's ability to generate income. But as parties of these...

Q&A: Strong investment options in a weak market.
June 1, 2001... With the current turmoil in the stock market, some investors have started to look at alternative investment opportunities. One area that has been getting some serious attention is the real estate investment sector. Offering bond-like...

Q&A: Negotiating the third-party sublease provision.
June 1, 2001... Dramatic changes in strategic directions of companies are common these days Companies often make rapid adjustments to face changing economic conditions. Making such changes can be complicated when fixed financial obligations, such as a...

Options can only live once, Middlesex Court rules.(Brief Article)
June 1, 2001... CAMBRIDGE--Should real-estate purchase options be a one-shot deal for commercial leaseholders? According to a recent Middlesex Superior Court decision in Super Fitness of Malden Inc. vs. WJG Realty Trust, the answer is yes. The court...

Push your rental terms to their limits with 'synthetic leases'.(Brief Article)
June 1, 2001... It is not often in the world of finance that you get to have your cake and eat it, too. But such is the case with a financing product commonly known as synthetic lease financing--"synthetic" because it's a loan dressed up as a lease to take...

Landlord-tenant negotiations change course in new market.(Brief Article)
June 1, 2001... One of the less visible--but still dramatic--effects of the economic slowdown is the change in balance in lease negotiations between landlords and tenants. Just one year ago, the negotiating position of tenants in metropolitan Boston was...

High-tech design: Nurture creativity, get rid of corner office.(Brief Article)
June 1, 2001... Designing for high-tech companies today is, as one might expect, a different experience from that of less than a year ago. With bad news about technology stocks and almost daily reports of missed quarterly targets and disappointing earnings,...

Is your new office space prepped for technology integration?(Brief Article)
June 1, 2001... One of the first questions many prospective tenants ask is, "How is this building wired for all my phone, Internet, data and network communications needs?" The owner's or broker's answer may determine the outcome of the deal. A...

Boston on the Record.(Brief Article)
June 1, 2001... PERSONNEL FILE ADVERTISING/COMMUNICATIONS Schneider & Associates of Boston appointed Linda Hart chief innovation officer and vice president of organizational development and Kathleen Dastur account coordinator, corporate...

Trinity Communications.(Brief Article)
June 1, 2001... Trinity Communications of Boston was retained by international legal firm Holland & Knight LLP, with local offices in Boston, to execute a public relations campaign, designed to raise awareness of the firm's primary practice areas and its work...

Birmingham Associates Communications.(Brief Article)
June 1, 2001... Boston-based Birmingham Associates Communications landed the account for Ford Management Group, a Boston-based model and talent agency, and will promote that agency's participation in a nationwide Mattel/Toys "R" Us Barbie Doll campaign.

Currier & Associates Inc.(Brief Article)
June 1, 2001... Currier & Associates Inc. of Newburyport expanded its portfolio with the addition of 10 new clients and 14 new projects. New Massachusetts clients include the following; Neville Assisted Living Inc., Cambridge; Salem Community Corp., Worcester;...

New England Financial.(Brief Article)
June 1, 2001... New England Financial of Boston awarded grants to 20 associates through the company's Community Action Recognition (CARE) program. The 2001 CARE Grant awards recognized volunteer work by corporate associates and gave $1,000 to their respective...

Wainwright Bank & Trust Co.(Brief Article)
June 1, 2001... Boston-based Wainwright Bank & Trust Co. received a Community Partnership Award from the Center for Responsibility in Business at the 15th Annual Corporate Con science Awards. The honor was based on the bank's donation of $140 million in loans...

Empirix Inc.(Brief Article)
June 1, 2001... Empirix Inc., a Waltham-based provider of test and monitoring product for business-critical web applications, received the Java Developer's Journal World Class Award for Bean-test 3.1, its Enterprise JavaBeans (EJB) testing solution. The award,...

Copper Products Inc.(Brief Article)
June 1, 2001... Boston-based Alliance for the Commonwealth announced the winners of the sixth annual Export Achievement Awards. Revere Copper Products Inc of New Bedford was honored for Product Export Achievement, Boston University's international programs...

Associated Builders and Contractors Inc.(Brief Article)
June 1, 2001... Climate Design Systems, a Haverhill-based heating, air-conditioning and indoor air-quality company, received a silver Safety Training and Evaluation Process certificate from the Massachusetts Chapter of Associated Builders and Contractors Inc...

Jack Conway & Co.(Brief Article)
June 1, 2001... The in-house advertising agency of Jack Conway & Co., a Norwell-based private real estate firm, won first prize in a national marketing competition sponsored by RELO, the real estate relocation network.

Dynamic Research Corp.(Brief Article)
June 1, 2001... Dynamic Research Corp. of Andover won first place in the Society for Technical Communication's recent International Online Communication Competition, in recognition of a computer-based training product that the firm developed for the state of...

Princeton Properties.(Brief Article)
June 1, 2001... Princeton Properties of Lowell received the Pillars of the Industry Award for Property Management Company of the Year, in a ceremony sponsored by the National Association of Home Builders. The firm was also named a finalist in the Best...

Citizens Bank.(Brief Article)
June 1, 2001... The Technology Banking Group at Citizens Bank extended a two-year revolving $30 million line of credit to LTX Corp., a Westwood-based semiconductor test equipment supplier.

CardioTech International Inc.(Brief Article)
June 1, 2001... CardioTech International Inc. of Woburn acquired Catheter and Disposables Technology (CDT), a Plymouth, Minn.-based subsidary of Colorado MEDTech Inc., for $1.3 million. As part of the agreement, CDT's 25 employees and consultants were granted...

Vertex Pharmaceuticals Inc.(HIV protease inhibitor GW433908 clinical trial)(Brief Article)
June 1, 2001... Cambridge-based Vertex Pharmaceuticals Inc. initiated a Phase III clinical trial of its investigational HIV protease inhibitor GW433908 (also known as 908), which it discovered through a joint research collaboration with GlaxoSmithKline (which...

Biogen Inc.(Brief Article)
June 1, 2001... Biogen Inc. of Cambridge purchased a 60-acre site, with an option for an additional 36 acres, in the Municipality of Hillerod, Denmark, as the site of its first major European manufacturing facility. Biogen plans to invest $350 million in the...

Lahey Clinic Medical Center.(Brief Article)
June 1, 2001... The cancer program at the Burlington-based Lahey Clinic Medical Center was granted approval from the Commission on Cancer of the American College of Surgeons. Approval recognizes commitment to quality care in the diagnosis and treatment of...

General Dynamics Worldwide Telecommunication Systems.(Brief Article)
June 1, 2001... General Dynamics Worldwide Telecommunication Systems of Needham was awarded a $102 million delivery order to upgrade the telecommunications infrastructure at U.S. Navy installations in Europe, Asia and the-Middle East, in compliance with the...

Datawatch Corp.(Brief Article)
June 1, 2001... Lowell-based Datawatch Corp., provider of data transformation tools and service management software, announced a partnership in Europe with Metastore, which will supply its customers and partners in Belguim, France and Luxembourg with Datawatch...

Demantra Inc.(Brief Article)
June 1, 2001... Demantra Inc., a Cambridge-based demand management solution provider, entered into an alliance with Agribuys, a California-based supply chain integrator for the global food industry.

Cross Country Automotive Services.(Brief Article)
June 1, 2001... Cross Country Automotive Services, a Boston-based provider of mobility-related customer services such as emergency road-side assistance, introduced Closed Loop Technology into its dispatch system, allowing for automatic follow-up with drivers...

Viisage Technology Inc.(Brief Article)
June 1, 2001... Viisage Technology Inc, a Littleton-based developer of face-recognition technology and identification systems, teamed with Silver Network Electronics Co. WLL of Kuwait to market, sell, install and support Viisage's face-recognition systems in...

Product Development Consulting Inc.(Brief Article)
June 1, 2001... Boston-based Product Development Consulting Inc, signed a partnership agreement with BetaSphere of Palo Alto, Calif., in which the two companies will co-market their respective services.

Smart Software Inc.(Brief Article)
June 1, 2001... Smart Software Inc, a Belmont-based enterprise demand planning and forecasting software provider, received a patent from the United States Patent and Trademark Office for a "system and method for forecasting intermittent damand." The technology...

GenRad Inc.(Brief Article)
June 1, 2001... GenRad Inc of Westford gained a new customer for its three-dimensional autmoated X-Ray inspection system in Excelsior, a San Jose, Calif.-based manufacturer of printed telecom circuit boards.

Eliassen Group Inc.(Brief Article)
June 1, 2001... Eliassen Group Inc, a Wakefield-based information technology, software consulting and staffing company, expanded through the opening of a new office at 75 Cambridge Parkway, Cambridge. The company's corporate headquarters are still located at...

American Tower Corp.(Brief Article)
June 1, 2001... Boston-based American Tower Corp. acquired the rights to 156 communications towers in Brazil from Global Village Telecom Ltda (GVT), a fixed wireless and wireline operator. Under the agreement, which was obtained by the company's subsidary,...

Polaroid Corp.(Brief Article)
June 1, 2001... Cambridge-based Polaroid Corp. sold its office and manufacturing complex near the Cambridge Reservoir in Waltham for approximately $70 million to The Davis Companies of Boston in a joint venture with Prudential Real Estate Investors. In...

Stride Right Corp.(Brief Article)
June 1, 2001... Sperry Top-Sider, a division of Lexingtonbased Stride Right Corp. and distributor of casual and marine footwear, retained IMG Licensing, a Cleveland-based independent sports management and marketing agency, to develop and implement licensing...