Boston Business Journal articles from May 2001

Boston Business Journal archives from May 2001

BOSTON BUSINESS JOURNAL.
May 4, 2001... Struggling tech firms often look in vain for buyers All that remains of Chapbooks.com, a Boston specialty publishing company that put itself up for sale in recent months, is an e-memorial web page with almost 100 notes of condolence from...

Despite tech retreat, some grab more space.(Statistical Data Included)
May 4, 2001... Those that are thriving find attractive lease options Like many dot-coms last year, CCBN.com LLC, a Boston-based company that links publicly traded companies with investors via the Internet, knew that its space needs had changed pretty...

Marriott Copley hotel deal is likely.(Westbrook Partners L.L.C. plans to purchase Boston Marriott Copley Place)(Brief Article)
May 4, 2001... A Boston-based real estate investment company is eyeing the purchase of the Hub's second-largest hotel. Sources say Westbrook Partners LLC is in talks to buy the Boston Marriott Copley Place, a property that industry sources say could fetch...

Analysts: Demand from tech firms may hold key to market.(Brief Article)
May 4, 2001... Some real estate analysts think the duration of the technology sector's slump might play a significant role in whether the market picks up speed or continues limping along. According to NAI Hunneman Commercial Co.'s first-quarter 2001...

Bearish March leads to $5B outflow.(Brief Article)(Statistical Data Included)
May 4, 2001... Massachusetts mutual fund firms were brutalized by March's bear market, which saw investors pull billions of dollars out equity and bond investment vehicles, according to the most recent fund-flow data compiled by Financial Research Corp., a...

Road to recovery.
May 4, 2001... Physician-president seeks cure for hospital's image and financial woes It was always Dr. Michael Jellinek's dream to run his own hospital. Yet, when the brass at Partners HealthCare System Inc. tapped Jellinek last October to serve as...

Genuity reports QI loss; will cut 12% of workers.(Brief Article)(Statistical Data Included)
May 4, 2001... WOBURN--Genuity Inc., which sells Internet services to businesses, posted a wider first-quarter loss and said it is eliminating about 624 jobs to trim expenses. The job cuts represent 12 percent of Genuity's work force of 5,200 employees,...

Raytheon says former unit under SEC probe.(Brief Article)(Statistical Data Included)
May 4, 2001... LEXINGTON--Raytheon Co., the third-largest US. defense contractor, said the U.S. Securities and Exchange Commission is investigating the engineering and construction unit it sold to Washington Group International Inc. Lexington-based Raytheon...

Liberty QI profit down 6.5% amid falling market.(Brief Article)(Statistical Data Included)
May 4, 2001... BOSTON--Liberty Financial Cos., the financial services arm of Liberty Mutual Insurance Co., said first-quarter profit fell 6.5 percent as a declining stock market reduced assets under management. Liberty, which is selling two units to Sun Life...

BU's blue-light special offers students MBA deal.(Brief Article)
May 4, 2001... Boston University is breaking down the price barrier for a new, dual-degree master's program by offering students a free fifth semester. The university has raised nearly $1.7 million from corporations, foundations and alumni, which is...

Imperial Bank seeks biotech realm.(Brief Article)
May 4, 2001... Imperial Bank is looking for an edge in the biotech lending business, having recruited three executives with science backgrounds to its life sciences lending team. The three have already started to work on lending debt capital to young...

Capuano: Regional-planning risks outweigh rewards.(Brief Article)
May 4, 2001... U.S. Rep. Michael Capuano issued a bold challenge to the more than 200 planners, activists and businesspeople who spent this past weekend tackling sprawl in Greater Boston. Blatantly declaring that he doesn't think regional planning could...

Temporary quarters to greet Olin's incoming freshmen.(Brief Article)
May 4, 2001... NEEDHAM--When the Franklin W. Olin College of Engineering opens this fall amid fanfare about its tuition-free programs, 30 hardy students will rough it in modular dormitory and class buildings. Delays in permitting and construction...

Scaled-down Xceed starts spin-off.(Brief Article)
May 4, 2001... PITTSBURGH--Like dozens of other technology firms, Xceed Consulting Inc. recently laid off a sizable portion of its staff. But in addition to the layoffs, Xceed has also completed a spin-off Xceed COO Kip Wagner, 31, says his firm's ability...

Playing the waiting game: IPO for eRoom on hold.(Brief Article)
May 4, 2001... CAMBRIDGE--The phrase "Internet IPO" has been rarely uttered since the market meltdown began a year ago. Internet-related companies have become the most vilified of tech stocks, leaving little appetite among these firms to undergo initial...

Its IPO withdrawn, Sitara plans to raise its profile in the marketplace.(Brief Article)
May 4, 2001... WALTHAM--Having backed off on its plan to go public, Sitara Networks Inc. has returned to its private equity investors. A group of those investors has responded with a $16 million round of funding, pushing the company's total private equity...

Latest facility purchase is a milestone for Benchmark.(Brief Article)
May 4, 2001... Wellesley-based assisted living firm is now the largest such facility in New England experts say While many in the nursing home and assisted-living industries are struggling, some deep-pocket players can still find bargain buys, experts...

ON THE FLY with Steven M. Rothstein.(Brief Article)(Interview)
May 4, 2001... Steven M. Rothstein is the managing director for New England for AES NewEnergy Inc., a subsidiary of Arlington, Va.-based AES Corp. ABS NewEnergy is one of only a handful of active companies licensed by the state as a competitive supplier of...

Bill would require banks to post fees onto web site.(Brief Article)
May 4, 2001... Bankers' association calls legislation 'unnecessary' The Massachusetts Legislature is considering requiring banks here to supply the state with information on the cost of their consumer products, months after nearly half of those...

CBR hopes Rajewski hire will attract talent, grants.(Brief Article)
May 4, 2001... The Center For Blood Research (CBR) is banking on the addition of renowned German scientist Klaus Rajewsky to boost its grant development and attract young talent. The Boston-based CBR, which has a history of famous firsts, is looking to...

Magazine for wealthy set to launch.(Brief Article)
May 4, 2001... The owner of a Newton real estate brokerage next month will launch a magazine marketing "high-end dream properties" throughout the United States. While the premiere, 64-page issue of Castles Magazine-The International Magazine for...

Forbes property sale may mean Chelsea upswing.(Brief Article)
May 4, 2001... CHELSEA--The Forbes Industrial Park, a 466,000-square-foot, 17.5-acre site on the banks of Chelsea Creek, is going up for sale with the hope that its redevelopment will help Chelsea's waterfront property meet its widely viewed potential. ...

Digitas holds onto hope despite spate of cutbacks.(Brief Article)
May 4, 2001... Amid the rubble of executive salary reductions, layoffs and cost-cutting measures, Digitas Inc. is holding out its positive first-quarter earnings report as a harbinger of hope. Some analysts, particularly Arlington, Va.-based Friedman,...

Others fall by the wayside, while Molecular goes on.(Brief Article)
May 4, 2001... WATERTOWN--Against a backdrop of larger competitors laying off employees, closing offices and even going bankrupt, Internet consultancy Tvisions Inc. has changed its name to Molecular Inc. and recently launched a pricey, multimedia branding...

Brix secures $22 million in third-round financing.(Brief Article)
May 4, 2001... CHELMSFORD-Quickly evolving Internet networks offer any number of revenue opportunities for service providers, but only if the services do what they are supposed to do. Monitoring that performance is the job Brix Networks Inc. wants. ...

Growth helps WaveSmith ride into new offices.(Brief Article)
May 4, 2001... ACTON-WaveSmith Networks Inc., growing from 30 employees to 90 since last August, has moved into its new, 30,000-square-foot corporate headquarters in Acton and opened offices in Reston, Va., and Denver. WaveSmith is developing multiservice...

Census data: Seniors lead in nation's wealth parade.(Brief Article)(Statistical Data Included)
May 4, 2001... Age has its advantages, especially when it comes to the bottom line. Married couples who were 65 or older had a median net worth of $138,249 in 1995, the highest figure among 47 selected groups according to an analysis of recently released...

Daktronics Inc. scores contract for scoreboard at new CMGI Field.(Brief Article)
May 4, 2001... Daktronics Inc., a Brookings, S.D.based manufacturer of digital displays, appears to have racked up two more major scoreboard deals--including one for the New England Patriots' new home stadium now under construction in Foxhorough. The...

Pressure builds in Congress for new ergonomics rule.(Brief Article)
May 4, 2001... Senate moderates who provided the key votes to kill OSHA's ergonomics regulation are frustrated by Secretary of Labor Elaine Chao's refusal to commit to a deadline for coming up with a new policy to address workplace injuries like carpal tunnel...

Bush wants private sector to compete for federal jobs.(Brief Article)
May 4, 2001... The Bush administration wants to allow businesses to compete for a variety of services now provided by more than 400,000 federal employees. "We're serious about it," says Mitch Daniels, director of the Office of Management and Budget. ...

Brownfields reform bill sails through Senate.(Brief Article)
May 4, 2001... The U.S. Senate approved brownfields reform legislation by a 99-0 vote, pleasing everyone from the real estate industry to the nation's mayors. The bill provides local governments with $150 million a year for the next five years to help...

FTC endorses measure to restrict junk e-mail.(Brief Article)
May 4, 2001... The Federal Trade Commission endorsed legislation that allows consumers to opt out of receiving unsolicited commercial e-mail and imposes penalties on businesses that ignore consumers' wishes. Under a bill introduced by Sen. Conrad Burns,...

Chamber biggest spender among lobbying groups.(Brief Article)(Statistical Data Included)
May 4, 2001... The U.S. Chamber of Commerce spent $9.66 million lobbying the federal government during the first six months of 2000, beating out the American Medical Association for the No. 1 ranking on Political Money Line's list of big-spending lobbying...

Galvin halts records move after conveyancers gripe.(Brief Article)
May 4, 2001... Storing deeds in two places would have made research more expensive Secretary of the Commonwealth William Galvin on Wednesday brought to a halt the transfer of real estate deeds that local conveyancers say would have made their services...

From tutus to two-tones, dress is his strongest suit.(Brief Article)
May 4, 2001... Robert Shillman has a habit of doing things other chief executive officers might shy away from. The CEO and president of Cognex Corp. of Natick, a maker of machine vision systems, has in his career donned many unusual outfits. There was...

Say 'Amen,' somebody.(Brief Article)
May 4, 2001... Smart growth is a topic the Boston Society of Architects has drawn attention to of late with a yearlong program called, "How We Live: A Civic Initiative for a Livable New England." Always a timely topic. But a participant in one of the...

Making blood count.(Brief Article)
May 4, 2001... Not many people outside the biotech and medical communities know about the Center for Blood Research in Boston, but you may know some of things that made it famous. For example, its researchers discovered the Rh factor in blood. One of its...

Area's Largest Venture Capital Firms.(Statistical Data Included)
May 4, 2001... Area's Largest Venture Capital Firms (ranked by amount invested in 2000) [*] Total amount...

Area's Largest Sports Facilities.(Statistical Data Included)
May 4, 2001... Area's Largest Sports Facilities (ranked by maximum seating capacity) Seating...

Astral Point shifts focus as exchange carriers falter.(Brief Article)
May 4, 2001... The woes of competitive local exchange carriers have proven plenty disruptive to makers of telecom equipment. Count Chelmsford's Astral Point Communications Inc. among those forced to re-evaluate how they do business--and with whom they do it....

What downturn? MatrixOne eyes move, staffing growth.(Brief Article)
May 4, 2001... MatrixOne Inc. is on the move. The Chelmsford-based company has been hiring rapidly. And, to accommodate its increasing numbers, it is moving some of its operations into 52,000 square feet of space in Westford. Having hired about 150...

CitySoft lands $1.8M in first-round financing.(Brief Article)
May 4, 2001... Watertown's CitySoft Inc., which provides web-management services, has closed its first round of funding. Leading the $1.8 million investment were Sustainable Jobs Fund, which has offices in Durham, N.C., and Philadelphia; and Calvert...

Groomed for growth.(Newbury Street hairstylist, Mario Russo)(Brief Article)
May 4, 2001... Building a business with elbow grease--and olive oil It's not surprising that Newbury Street hairstylist Mario Russo developed his own line of products. The owner of an eponymous salon, a onetime science and engineering student, always...

Entrepreneurs' financing roundtable coming up Tuesday, May 8.(Technology Capital Network Inc.)(Brief Article)
May 4, 2001... 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 how and when to...

Starting a business? Get some tips from the SBA.(U.S. Small Business Administration)(Brief Article)
May 4, 2001... Thursday, May 10: The U.S. Small Business Administration's Business Information Center at 10 Causeway St. in Boston will host an open house from 10 a.m. to noon. Participants can meet with successful smallbusiness owners and introduce...

Krein slated to speak at upcoming venture forum.(WPI Venture Forum)(Brief Article)
May 4, 2001... The Tuesday, May 15, meeting of the WPI Venture Forum will feature William A. Krein, managing director of client services for Waltham-based American Management Equities Inc., who will speak on the art of negotiation at the Kinnicutt Lecture...

Collaborative choreography: Taking a tip from the ballet.(Brief Article)
May 4, 2001... "You are what you think you are" is a popular notion, and we think it's a true one. If you have a limited concept of what you can do, you will never exceed those limitations. In business, the same notion with a slight rephrasing is also...

Heated debates spice up weekend planning confab.(Brief Article)
May 4, 2001... What better way to spend a Friday evening than extolling the virtues of smart growth planning and a regionwide assault on sprawl? At first glance, planning might seem like a dry topic, particularly when one could be out enjoying a nice dinner...

Ho, ho, ho.(Brief Article)
May 4, 2001... It must be, what, a couple of weeks since we've seen the last traces of snow? Regardless, the holidays made an appearance last weekend with the Boston affiliate of Christmas in April renovating the Little Brothers-Friends of the Elderly home in...

A runaway success.(Brief Article)
May 4, 2001... Taking a page from the book at the senior President Bush, developer Don Chiofaro of Boston-based Chiofaro Co., decided that if he was going to run the Boston Marathon, he was going to make it count. So he asked people to become one of his...

The Logica move.(Brief Article)
May 4, 2001... Logica Inc., a Lexington-based software consulting and systems integration company (and subsidiary of London's Logica PLC), has leased 69,000 square feet of first-class space at 32 Hartwell Ave. in Lexington. Spaulding & Slye Colliers...

Shopping centers sold.(Brief Article)
May 4, 2001... CB Richard Ellis/Whittier Partners' Boston-based Northeast retail investment team brokered the sale of three New England retail properties for more than $40 million. They are: * Redrock LLC of Boston's 120,411-square-foot North Attleboro...

Whitehead on genomics era: It ain't over 'til it's over.(Brief Article)
May 4, 2001... Every year the Whitehead Institute in Cambridge sponsors a three-day workshop for journalists, to bring them up to speed on the latest advances in technology and to let them know what the institute is working on currently. It's also a...

Biotechnology conference makes for a stellar venue.(Biotechnology industry Organization)(Brief Article)
May 4, 2001... Speaking of genomics, the Biotechnology industry Organization (BIO) has announced the speakers for its BIO 2001 event. And it's not a lineup you hear every day, especially in the biotech world: Francis Collins, director of the National Human...

Matritech appoints board.(Brief Article)
May 4, 2001... Newton-based Matritech inc. is pushing forward with its blood test for detecting breast cancer. The company, which has one such diagnostic on the market for bladder cancer, has recruited a breast cancer advisory board to coordinate the...

Thank you so much, Alan, and please don't stop now.(Federal Reserve System Chairman Alan Greenspan's monetary policy)(Brief Article)
May 4, 2001... Extremely polite pundit that I am, I feel a compelling need to express my appreciation to Dr. Alan Greenspan and the Fed for half of a job well-done. Or is it a job done well--but only half--done? Of course, I am referring to the recent,...

Clean Harbors Inc.(information on services)(Statistical Data Included)
May 4, 2001... THE BUSINESS Clean Harbors Inc. provides a wide range of environmental services to a diversified customer base in die United States arid Puerto Rico. The company has 12 waste management facilities, which are managed separately from the...

MASSACHUSETTS STOCK INDEX.(Illustration)(Statistical Data Included)
May 4, 2001... MASSACHUSETTS STOCK INDEX Ticker Close Pct. 52-week Company Symbol Price Chg. High A.D. Technologies Inc. ADTC ...

Art at work.(Gold Wire Technology Inc.)(Brief Article)
May 4, 2001... Local company opens its doors to rising artists--and gets a bit of interior decorating in return Would-be buyers chatted with artists and nibbled on hors d'oeuvres as works on display were discussed, admired and sold. It might have been a...

Meshing new and old: Can city agree on architecture?(Institute of Contemporary Art's museum, Boston, MA)(Brief Article)
May 4, 2001... The design for the Institute of Contemporary Art's planned museum on Boston's waterfront isn't complete, but it promises to be unlike anything else in the city. Diller + Scofidio of New York will design the 60,000-square-foot museum, part...

Designing man: Marc English draws career in graphics.
May 4, 2001... When you look at the Coca-Cola logo, what comes to mind? Youth? Energy? Thirst? When you see the Nike swoosh, do have a sudden urge to Just Do It? And does it seem like those golden arches are like a beacon beckoning you to the counter for a...

Q&A: Branding, messaging I your corporation's space.
May 4, 2001... With the accelerating pace of change, the ability to differentiate a company's product or services is paramount to success. When a space can assist in making a memorable introduction or closing a sale, the benefit is obvious. Watertown...

Student architects take lead in affordable home design.(Brief Article)
May 4, 2001... Development contest yields 2 winning teams Linda Landry, an architectural intern and her team of fellow students have a plan to improve a parking lot in downtown Waltham. Their design calls for a mixed-use, mixed-income development with...

Corporate identity: Use design to form a lasting impression.(Brief Article)
May 4, 2001... The millennium welcomes a communication revolution that has launched the graphic design industry not only to an elevated strategic creative level, but also to challenging technological depths. A thorough understanding of an organization's...

In scramble for space, seek great locale-not looming disaster.(business space management theory)(Brief Article)
May 4, 2001... Congratulations! Your new business startup is soaring, customers are clamoring for your product, and you're adding staff members as fast as you can hire them. In fact, you've outgrown the dingy back office you've been renting and are ready to...

Energy code revisions seen as blessing for builders, tenants.(effects of new energy laws on building designs)(Brief Article)
May 4, 2001... The way architects design buildings is now being impacted by a stringent energy conservation code. Earlier this year, new energy conservation requirements were passed for the Massachusetts State Building Code. Simply put, this energy code...

High potential for air rights development over Mass. Pike.(Boston real estate information)(Brief Article)(Industry Overview)
May 4, 2001... Despite a slowing economy, the Boston real estate market remains active. Residential availability is less than 1.2 percent, with rents averaging $1,300 per month. By some estimates, the vacancy rate for office space was 2.6 percent in 2000,...

Urban school architects can help bolster the community.(school design information)(Brief Article)
May 4, 2001... The design of schools in urban communities has become much more than the design of state-of-the-art classrooms for students and teachers. Increasingly, as the social structures of our urban neighborhoods change, schools have become centers...

Enlightening employees about the positive impact of daylight.(daylight effects on employee retention and moral)(Brief Article)
May 4, 2001... It's free and plentiful, and it can increase productivity, improve employee retention and reduce stress, in addition to conserving energy Yet daylight is rarely given adequate consideration in the planning of an office building or in interior...

PERSONNEL FILE.(brief personnel information)
May 4, 2001... ADVERTISING/COMMUNICATIONS Red 98, a Boston-based digital communications firm, appointed Kirsten Bradley project director and Stefanie Alpert senior writer/information architect. Port Authority Inc., a Boston-based marketing resource...

United Electric Controls Co.(Brief Article)
May 4, 2001... United Electric Controls Co. of Watertown was recently honored by state officials for its implementation of lean manufacturing techniques, adapting to principles advocated by the Massachusetts Manufacturing Extension Partnership that aim to...

General Communications.(receives award from ECI Telecom)(Brief Article)
May 4, 2001... General Communications of Woburn received the President's Award from ECI Telecom at its annual national dealer's conference in Tampa, Fla., in recognition of achieving the highest dollar increase in sales during the year 2000.

Bertucci.(receives award from Unilever Best Foods)(Brief Article)
May 4, 2001... Bertucci's of Maynard was awarded First Prize for its Eggplant Napoleon menu item at the Second Annual Best in Glass Awards presented by Restaurant Business and sponsored by Unilever Best Foods, Lawry's Brand. At a recent awards ceremony,...

DIVIDENDS.(brief area business financial information)(Brief Article)
May 4, 2001... Stride Rite Corp. of Lexington declared a regular quarterly dividend of 5 cents per share, payable June 15, 2001, to stockholders of record May 29, 2001. FleetBoston Financial Corp. declared a regular quarterly dividend of 33 cents per...

Vertex Pharmaceuticals to acquire Aurora for $592M.(Brief Article)(Statistical Data Included)
May 4, 2001... Cambridge-based Vertex Pharmaceuticals Inc. will buy San Diego-based Aurora Biosciences Corp. for about $592 million in stock to gain tools and systems used to search for drug candidates. Vertex said it will pay $24.34 for each Aurora share....

Tommy Lee, TransWestern buy WorldPages for $215M.(Thomas H. Lee Partners LP, TransWestern Publishing Co, WorldPages.com Inc.)(Brief Article)(Statistical Data Included)
May 4, 2001... Boston-based private equity firm Thomas H. Lee Partners LP and San Diego-based telephone directory company TransWestern Publishing Co. agreed to purchase Dallas-based WorldPages.com Inc. for about $215 million in cash and assumed debt. The...

C-bridge to cut 90 jobs.(Brief Article)(Statistical Data Included)
May 4, 2001... Cambridge-based C-bridge Internet Solutions Inc., an Internet consultant, will cut about 90 jobs, or 19 percent of its work force, to reduce costs. The move follows the company's announcement last month that it would cut 105 jobs. Shares...

American Tower Q1 loss widens to $71.5 million.(Brief Article)
May 4, 2001... Boston-based American Tower Corp. had a wider first-quarter loss as it bought more wireless-communications and broadcast towers. The company said the loss was $71.5 million, or 38 cents a share, compared with $42 million, or 27 cents, a year...

ATG loss widens in Q1; CFO will step down.(Brief Article)(Statistical Data Included)
May 4, 2001... Cambridge-based Art Technology Group Inc., whose software helps run e-commerce sites, said its first-quarter loss widened and its chief financial officer is resigning. The loss widened to $12.9 million, or 19 cents a share, from a loss of...

Stride Rite president resigns.(Diane Sullivan )(Brief Article)
May 4, 2001... Lexington-based Stride Rite Corp., maker of Keds footwear and its namesake brand of children's shoes, said president and chief operating officer Diane Sullivan is resigning. Stride Rite shares have fallen 12 percent in the past year.

Free daily newspaper Metro makes its debut in Boston.(Brief Article)
May 4, 2001... Metro, the free daily newspaper distributed in public transportation systems throughout much of Europe, was expected to make its Boston debut Thursday with a circulation of 175,000 copies. Although the 5-year-old, tabloid-style Metro is...

Lernout founders to stay in custody for one month.(Jo Lernout, Pol Hauspie)(Brief Article)
May 4, 2001... Jo Lernout and Pol Hauspie, co-founders of leper, Belgium-based software company Lernout & Hauspie Speech Products NV which has its U.S. headquarters in Burlington, will be held in jail for a month while an investigation into fraud and...

Merger creates black-owned bank in three U.S. cities.(Boston bank of Commerce acquires)(Founders National Bank of Los Angeles)(Brief Article)
May 4, 2001... With the acquisition of Founders National Bank of Los Angeles, the Boston Bank of Commerce said it has created the third-largest black-owned bank in the country. Shareholders of the merged bank include basketball player Earvin "Magic"...

Boston Scientific files Medinol countersuit.(Brief Article)
May 4, 2001... Natick-based Boston Scientific Corp., a medical device manufacturer, has countersued one of its suppliers, alleging that Israel-based Medinol Ltd. engaged in fraud and breach of contract. In a lawsuit filed in the U.S. District Court for...