Boston Business Journal articles from October 2001

Boston Business Journal archives from October 2001

Biotech goes suburban.(Massachusetts)(Statistical Data Included)
October 26, 2001... Space demand pushes more firms out of Cambridge corridor Cambridge may be the region's biotechnology epicenter, but demand for biotech space is also making an impact in the suburbs, from Maiden to Billerica. In fact, Woburn-based...

Sycamore eyed as possible buyout target.(Sycamore Networks Inc.)(Brief Article)(Statistical Data Included)
October 26, 2001... CHELMSFORD--Sycamore Networks Inc.'s ongoing struggles have telecom insiders and Wall Street observers talking about the possibility the company might be bought. Speculation centers on Tellabs Inc., a veteran player in the...

Regional airports attracting traffic in delay-plagued era.(following Sept. 11, 2001, terrorist attacks)(Brief Article)(Statistical Data Included)
October 26, 2001... MANCHESTER, N.H--Long waits at security checkpoints and a perception that Logan International Airport continues to present a safety risk could benefit New England's regional airports, many of whose claims of convenience and efficiency seem...

Surviving the drought.(Statistical Data Included)
October 26, 2001... Former IPO candidates hunker down and stay alive They were on the brink of huge cash infusions. Then the public markets soured, leaving them abandoned at the IPO altar. In the 18 months since overhyped technology sectors faded into...

Thermo Electron to cut up to 500 positions.(Brief Article)(Statistical Data Included)
October 26, 2001... WALTHAM--Thermo Electron Corp., the country's largest manufacturer of scientific measuring instruments, announced plans to cut 300 to 500 jobs as the company expects this year's earnings to fall well below expectations. Third-quarter net...

A capital quarter.(Capital Crossing Bank's financial results in third quarter of 2001)(Brief Article)(Statistical Data Included)
October 26, 2001... Boston-based Capital Crossing Bank reported net income for the third quarter rose 112 percent over the same period a year ago, to $3.28 million from $1.55 million. Earnings per share rose 154 percent over a year ago, to 71 cents from 28...

Experts: Hotels won't go on the block.(Massachusetts)(Brief Article)(Statistical Data Included)
October 26, 2001... As a vice president of owned real estate for the former Bank of New England back in 1991, James O'Connell watched hotel after hotel along Route 128, Interstate 495 and elsewhere in New England fall to foreclosures. "Bank of New England...

Banking on experience.(Cambridge Trust Co.'s Joseph V. Roller II)(Brief Article)
October 26, 2001... Roller goes from running large bank divisions to running the show at Cambridge Trust CAMBRIDGE--Community bank chiefs are. known for their accessibility, but few can match Joseph V. Roller II. Although he's the new president of...

State mulls electronic signatures for power customers.(Massachussets)(Brief Article)
October 26, 2001... Changing electricity suppliers via the Internet may not seem revolutionary, but industry experts are calling the state's exploration of the concept a quantum leap forward. Last week, the Massachusetts Department of Telecommunications and...

Griffin to head N.E. for Cushman & Wakefield.(Robert Griffin Jr., New England)(Brief Article)
October 26, 2001... Robert Griffin Jr., who headed Trammell Crow Co.'s investment-sales group before taking his 13-person team to Cushman & Wakefield of Massachusetts Inc., has been named president of the New England area. Griffin, whose move caught many in...

Donovan Hatem signs lease at Boston's World Trade Center.(Massachusetts)(Brief Article)(Statistical Data Included)
October 26, 2001... In one bright note of activity in the otherwise silent office market, Boston-based law firm Donovan Hatem LLP has leased 27,000 square feet of space at World Trade Center East. The firm signed a 10-year lease with extensions in the...

Malls beef up security in wake of terrorist rumors.(General Growth Properties Inc.)(Brief Article)
October 26, 2001... The Sept. 11 terrorist attacks, followed by what the FBI is calling an e-mail hoax, have Massachusetts shopping-mall owners "hardening the targets." They're implementing new security measures from hourly sweeps for out-of-place or unusual...

Cambridge VC to create largest-ever biotech fund.(MPM Asset Management LLC)(Brief Article)(Statistical Data Included)
October 26, 2001... Cambridge-based MPM Asset Management LLC is reportedly raising the largest fund ever dedicated to biotech investment. While the venture capital firm is mum on the exact details of the fund, insiders say the firm is aiming to raise $750...

Punter buys fellow pension advisory.(Brief Article)
October 26, 2001... FRAMINGHAM--Punter Southall & Co. LLC, a pension and benefits consulting firm, has bought Higgins Associates Inc., a small, Cambridge-based investment adviser with about $200 million under management. The deal combines Punter, the U.S....

Applied's arrival in Danvers sets stage for talent battle.(Brief Article)
October 26, 2001... DANVERS--Applied Materials Inc.'s plan to open a 280,000-square-foot manufacturing plant in Danvers puts the Santa Clara, Calif.-based company in the backyard of two local competitors, potentially putting the players in a battle for local...

Biotech: Beyond the hype.(Bryan Roberts)(Brief Article)
October 26, 2001... More attention--and more dollars--are being concentrated on biotechnology pharmaceuticals and medical devices, an increasingly complex area of startup activity. Bryan Roberts is a general partner in the Cambridge office of Venrock Associates,...

Official questions lack of rivalry for milk contract.(Brief Article)
October 26, 2001... The demise of the Northeast Interstate Dairy Compact earlier this month was good news for Suiza Foods Corp., a company that already has a lot to be happy about in New England. Suiza worked to defeat the compact, which guaranteed New...

'Adjunctopia' service matches schools and instructors.(Brief Article)
October 26, 2001... The Massachusetts Technology Corp. hopes its Adjunctopia matchmaking service for universities and adjunct faculty members will prove a match made in heaven for college and university officials. The Brighton-based company set up the...

Ropes & Gray grows westward.(Brief Article)
October 26, 2001... Ropes & Gray is growing beyond its East Coast roots with a new San Francisco office and is making the leap to the New York market with a midtown address. In a statement, managing partner Douglass Ellis said the Boston-based law firm is...

Legally speaking VCs less tolerant of startup mishaps.(Brief Article)
October 26, 2001... Even with the IPO market on life support, startups' legal problems remain in the foreground, and experts say avoiding legal missteps is more important than ever. Common hurdles include trademark and patent issues, ensuring that new...

IRS contract lifts Dynamics.(Brief Article)
October 26, 2001... Government technology contractor Dynamics Research Corp. of Andover increased its earnings 47 percent for the third quarter, compared with the same period last year. That includes $400,000 already received from an Internal Revenue Service...

RSA Security pulls the plug on venture commitment.(Brief Article)
October 26, 2001... BOXFORD--Another corporate venture firm is on the ropes. Following a third-quarter loss, RSA Security Inc. said it is contemplating closing its private-equity arm, RSA Ventures. RSA has become the latest corporation to reassess whether it...

Broadview to step over failed DSL providers.(Brief Article)
October 26, 2001... With a strategy different from early players, New York-based Broadview Networks is entering the local DSL market. The company plans to offer a bundled package of telephone and digital-subscriber line service, giving customers the...

IDG buys Mac Publishing.(Brief Article)
October 26, 2001... International Data Group of Boston now is the sole owner of Mac Publishing LLC and the U.S. version of Macworld magazine. The technology media company--which produces the annual Macworld Conference & Expo and international editions of...

For facts about anthrax, doc prescribes eMedicine.com.(Brief Article)
October 26, 2001... Dr. Jonathan Adler is like many entrepreneurs, just trying to make a go of it. The former Massachusetts General Hospital doctor left the bedside to develop a web site and company called eMedicine.com Inc. that offers doctors access to...

Another all-star joins the board at Navic Networks.(Jack Connors Jr.,)(Brief Article)
October 26, 2001... Navic Networks, the Newton software company whose board of directors is already loaded with heavy-hitters, added another big name to its board last week. Jack Connors Jr., chief executive officer of advertising agency Hill, Holiday,...

Brodeur Worldwide sees world of growth in health.(Brief Article)
October 26, 2001... Brodeur Worldwide is courting Southern health care information technology companies to replenish its client base following last month's layoffs. The Boston-based agency, a division of New York city-based Omnicom Group Inc., recently...

Developing a successful business-marketing plan.(Brief Article)
October 26, 2001... Thursday, Nov. 1: Learn how to promote your business by utilizing advertising, public relations and the Internet at Higgins University Center, Clark University, Worcester, from 8:45 a.m. to noon; Sponsored by the Small Business...

Valuing to buy or sell a business at BC seminar.(Brief Article)
October 26, 2001... Thursday, Nov. 8: Learn the valuation process and methodologies used by appraisers to value business and factors affecting the valuation of the business at Boston College, 142 Beacon St. Chestnut Hill, from 8:30 aim. to 1 p.m. Sponsored by...

Entrepreneurs financing roundtable with TCN.(Brief Article)
October 26, 2001... The Technology Capital Network All be hosting an entrepreneurs financing roundtable, an educational program for entrepreneurs, on Tuesday, Nov. 6, at the MIT Faculty Club, 50 Memorial Dr. Cambridge, from 7-9:45 am. Learn how to raise cash,...

Entrepreneurs wanted.(Brief Article)
October 26, 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,...

Acquired skill.(Brief Article)
October 26, 2001... Outsource procurement service company ThreeCore builds business, then profits DANVERS--Driving into work one day in the fall of 1999, Thomas Petersen, president of ThreeCore Inc., decided, it was time. "I had this terrible fear that...

Bill offers businesses incentives to invest.(Brief Article)
October 26, 2001... The House version of the economic stimulus package includes tax incentives for small businesses to invest in new equipment at a time when capital spending plans are at their lowest in recent memory. Only 25 percent of the small-business...

Remember: America can't go it alone and neither can business.(Brief Article)
October 26, 2001... We are living in volatile times. Uncertainty reigns. Business patterns are changing as the result of political, social, economic and technological developments. Most tragically, recent global, geopolitical events have complicated the business...

Largest Airlines Serving Boston.(Illustration)
October 26, 2001... Largest Airlines Serving Boston (ranked by total passengers arriving and departing Logan Airport in 2000) Passengers: 2000 Inbound...

Most Active Investment Banks in Massachusetts.(Illustration)
October 26, 2001... Most Active Investment Banks in Massachusetts (ranked by number of mergers & acquisitions in 2001) Number of deals in 2001 Investment...

Can mutual funds make buying a patriotic duty?(Brief Article)
October 26, 2001... Since the Sept. 11, terrorist attacks on New York and Washington, DC., advertisers have taken a new approach to selling products and services, from cars to airplane trips. By and large, they have pushed the notion--with the encouragement of...

Trader Joe's goes urban with new small Hub store.(Brief Article)
October 26, 2001... A new Trader Joe's is scheduled to open Oct. 30 at 899 Boylston St. Boston. The 5,200-square-foot store will be relatively small for the South Pasadena, Calif.-based Trader Joe's Co., whose stores average about 9,000 square feet. ...

Law advocates' breakfast is a laughing matter--seriously.(Health Law Advocates)(Brief Article)
October 26, 2001... After the Sept. 11 terrorist attacks, it's hard to say the show must go on. But conferences have gone on, even though many people still don't feel ready for normalcy. For that reason, the attorneys at Boston-based Health Law Advocates...

For your blushing patriot.(Brief Article)
October 26, 2001... For those brides who define victory as more than just landing a husband, has Yolanda got the look for you. During a recent fashion show, the famous Waltham bridal salon rolled out the latest in bridal chic, the "Patriotic Bride." ...

The price of fear.(Brief Article)
October 26, 2001... Americans have been rather skittish about opening their mall since the first reported case of anthrax Oct. 4. Businesses have issued guidelines for handling mail after news reports of anthrax discoveries in New York and Washington, D.C....

Cashing in on nonprofits.(Brief Article)
October 26, 2001... Are coffee connoisseurs and do-gooders part of the same target market? Market researchers might be stumped, but Green Mountain Coffee Roasters Inc. is betting on a connection. The 20-year-old Waterbury, Vt.-based company has been...

Expansion of disaster loans called 'positive first step'.(Brief Article)
October 26, 2001... Small businesses that can demonstrate they were hurt by the Sept. 11 terrorist attacks on America have until Jan. 21,2002, to apply for U.S. Small Business Administration disaster loans that can cover up to $1.5 million in operating expenses....

Tips on choosing a financial adviser right for you.(Brief Article)
October 26, 2001... More Americans now own stocks, bonds and related forms of investment than ever before. However, despite this growth, many investors aren't comfortable making major financial or investment decisions on their own. Some of us may feel...

Manufacturers Services Ltd.(Brief Article)
October 26, 2001... THE BUSINESS Manufacturers Services Ltd. provides advanced electronics manufacturing services to original equipment manufacturers {OEMs). The company has relationships with leading OEMs in rapidly growing industries such as wired and...

MASSACHUSETTS STOCK INDEX.(Illustration)
October 26, 2001... MASSACHUSETTS STOCK INDEX Ticker Close Pct. Company Symbol Price Chg. A. D. Technologies Inc. ADTC 0.50 -- Abington...

Years after the birth of the paperless office, we still consume forests of hard copies.(Brief Article)
October 26, 2001... Think computers have made offices less reliant on paper? Think again. Consider this article, for example. It started with an editor, who e-mailed an idea to a writer, who promptly printed out the e-mail. Another e-mail (better print that out,...

Environmental manager is the newest corporate staple.(environmental, health and safety management)
October 26, 2001... In the 20 years during which Pat Davies has worked as an environmental health and safety manager, she and her colleagues have grappled with a host of changes. But to those in the EHS business, the evolution of Davies' own position at...

Taking a green approach can lead to more greenbacks.
October 26, 2001... Veryfine Products Inc., the Littleton-based juice maker, has a unique tag on its promotional material: "At Veryfine, protecting the environment is not an option. It's been our way of life for more than 130 years. Company president Sam...

Businesses might not like Kyoto Treaty, but they'll like uncertainty even less.
October 26, 2001... Economic uncertainties have given President Bush reason for skepticism of American involvement in the Kyoto Treaty. But, to disengage completely from negotiations in the interest of American business was precisely the wrong thing to do. ...

Hydrogen boom: Alternative energy source is such a gas.
October 26, 2001... Top auto-maker BMW pulled out all the stops when its CleanEnergy WorldTour 2001 landed in California in July. To hear company officials tell it, the makers of the "ultimate driving machine" are set to provide the ultimate in alternative fuel...

Legal, economic hurdles give brownfields the red light.
October 26, 2001... When General Electric shut down its air plane manufacturing facility near downtown Fitchburg in 1998, it negotiated a deal with the city to clean up environmental contamination on the site before it left town. The price tag for the cleanup:...

Boston on the Record.(appointments and awards)(Executive Changes)
October 26, 2001... PERSONNEL FILE Compiled by Sean McFadden ADVERTISING/COMMUNICATIONS David Drew was hired by Quincy-based Devine & Pearson Inc. as an account executive on the firm's Ocean Spray account. Lynda Saltz, a member of the Harvard...

DeHaas Advertising & Design.(Brief Article)
October 26, 2001... DeHaas Advertising & Design of Newbury-port won the Stor Enso North American Award of Excellence for design of the 2000 annual report for client NetGenesis of Cambridge. This award program, sponsored by the Stora Enso grade of papers, judges...

Shepley Bulfinch Richardson and Abbott.(win award)(Brief Article)
October 26, 2001... Boston-based Shepley Bulfinch Richardson and Abbott won the Award of Excellence from The Western Michigan Chapter of Associated Builders and Contractors for the design of the New Bronson Methodist Hospital in Kalamazoo, Mich. The firm shares...

PRI Automation Inc.(wins award from Computerworld)(Brief Article)
October 26, 2001... PRI Automation Inc. of Billerica was named a "Top 25 Wireless Innovator for 2001" by ComputerworlROI, a bimonthly supplement to IDG's Computerworid magazine. The company was recognized for successfully implementing a pilot program to provide...

BrandEquity International.(Brief Article)
October 26, 2001... BrandEquity International of Boston won the American Institute of Graphic Arts Annual Design Competition for the branding strategy, name development and identity for the Military Star Card, a universal credit rd system for the five branches...

Telco Systems.(award from European Information Society)(Brief Article)
October 26, 2001... Norwood-based Telco Systems was awarded a European Information Society Technologies prize for the development of the T6 multilayer gigabit ethernet switch.

Central Bancorp Inc.(dividend declared)(Brief Article)(Statistical Data Included)
October 26, 2001... Central Bancorp Inc. of Somerville declared a regular quarterly cash dividend of 10 cents per share, payable on Nov. 16, 2001, to record holders as of Nov. 2.

New Tilt and Pandora Systems.(Dana-Farber Cancer Institute web site)(Brief Article)
October 26, 2001... Boston area interactive agencies New Tilt and Pandora Systems collaborated on the launch of two new web sites for the Dana-Farber Cancer Institute of Boston. The new Dana-Farber web site, www.dana-farber.org, offers access to the institute's...

Anthrax concerns boost share price for Clean Harbors.(includes other news)(Brief Article)(Statistical Data Included)
October 26, 2001... Shares of Braintree-based Clean Harbors Inc. reached a 52-week high of $3.766, up more than 50 percent, in trading earlier this week--action that appears to be driven by increasing concern over terror-related anthrax attacks. The company...

A win for higher standards.(tests for high school graduates)(Brief Article)
October 26, 2001... In the era of the two-hour news cycle, it's easy to lose track of positive developments. Last week, a proud Department of Education Commissioner announced radically improved Massachusetts Comprehensive Assessment System (MOAS) results, a...

Gas in the harbor: A necessary risk.(Brief Article)
October 26, 2001... The shipment of liquid natural gas in large tankers to Boston Harbor has raised alarm over the past month, prompting the Coast; Guard to halt the vessels until last week. While it was only prudent to raise questions about the potential danger...

Nursing spirits from the past on All Hallow's Eve.(Brief Article)(Column)
October 26, 2001... In my neck of the woods, Halloween is fully embraced as a national holiday The neighborhood, complete with its own haunted house, will have hundreds of kids roaming the streets. They will show up at my front door in dark robes and ghoulish...

More than ever, Bay State needs strong hospitals.(Brief Article)(Statistical Data Included)
October 26, 2001... It's often been said that "everything changed on Sept. 11." Beyond the suffering of the victims and their families, the horrific terrorist attacks and their aftermath have profoundly affected our view of the world, our state and national...

Higher taxes are the wrong idea for struggling economy.
October 26, 2001... Working people and businesses are struggling across the country, and residents of the commonwealth and city of Boston are no exception. Every day, there are stories of businesses laying off employees or filing for bankruptcy protection. ...

Prudent planning for nontraditional families.
October 26, 2001... Vermont may have made some strides in equality for same-sex couples, but even in Vermont, estate and tax planning is still necessary. Federal tax laws still dominate the financial scene in all states, so what does a non-traditional family...

Will the latest tax act eliminate your need for Estate Planning?
October 26, 2001... The press reports announce the great news! A new tax act allows for a gradually increasing amount of assets to be passed to the next generation without a cumbersome and annoying estate tax. In fact, the estate tax may be abolished permanently...

Tax Relief and the Estate Tax: Repeal or Reform?
October 26, 2001... In spite of the tax refund most of us have received, when the dust settles, we will all have been treated only to another example of political smoke and mirrors. The evils of the "death tax" were touted as causing the breakup of the...

Under current estate law, it still pays to give.
October 26, 2001... Guess who would have stood to lose the most had the Estate Tax phase-but been complete and permanent? That's right, CHARITIES! Under current law, Charitable estate planning is, for the large estate owner, the most efficient, way to avoid...

The responsibilities of professional advisors.
October 26, 2001... The advisor is a critical. component of any wealth accumulation or wealth preservation strategy. This article will define the various advisors and the services they can provide. Often, it is the trust and estate lawyer who is the...

Survivorship stand-by trusts to the rescue.(Brief Article)
October 26, 2001... More and more couples are taking advantage of survivorship stand-by trusts (SSTs), which offer a unique estate planning opportunity by simultaneously solving their estate liquidity needs and lifetime income and retirement funding objectives...

Private Placement Variable Life Insurance.
October 26, 2001... What is it? Who needs it? How can they get it? What are the most powerful adjectives in our consumer culture?. No question, they' are. New, Improved. From detergent to diapers, from peanut butter to pasta, virtually every...

Helping you make sense of it all.
October 26, 2001... As an investor, you might find it helpful to determine your investment personality--that is, whether you're more conservative or aggressive. Let's examine the characteristics of each and then you can decide which you are. While no...

Stretch-out IRA's increasingly popular thanks to distribution rule changes.(Brief Article)(Statistical Data Included)
October 26, 2001... As more and more individuals enter retirement, a popular strategy called a "stretch-out IRA" should become extremely useful. The term 'stretch-out IRA" describes the means for extending the IRA's tax deferral period for as long as possible....

Trust Administration and the Massachusetts Prudent Investor Act.(Brief Article)
October 26, 2001... Dramatic change is not usually associated with the law of trusts. Historically, like the gristmill of the gods, trust law grinds exceedingly slow, but exceedingly fine. At the beginning of the 21st century, however, change is the watchword of...

The big question: Who gets the parents?(Brief Article)
October 26, 2001... Due to advances in medical science, better diets and attention to exercise, people are living longer and healthier lives. However, the days when an aging parent moved in with a child to spend the last few years of life are over. The question...

2001 Tax Relief Act Impact on your financial plan.(Brief Article)(Statistical Data Included)
October 26, 2001... The recently passed Economic Growth and Tax Relief Reconciliation Act of 2001 introduces a complex maze of new tax rules along with a "sunset provision that causes the legislation to expire in ten years. While the sunset provision causes...

Your IRA - A tax-efficient charitable gift.(Brief Article)
October 26, 2001... Want to leave a bequest to charity? Think about leaving your IRA (or other retirement plan) and here's why. Your IRA is subject to income tax as distributions are taken and the value of your IRA is included in your estate for estate tax...

Asset protection in your own backyard.(domestic asset protection trusts)(Brief Article)
October 26, 2001... In these days of outrageous jury awards, with customers, clients, patients, partners, and passers-by suing for everything from breach of contract to breach of promise, it seems that everyone wants "asset protection". What does that mean? The...

Executive benefits - more than a generous salary.(Brief Article)
October 26, 2001... Today perhaps more than ever, the competition in business is as fierce as it has ever been. To remain competitive and profitable in today's economy, companies large and small must look for creative ways to attract and retain talented...

Are Family Limited Partnerships still necessary?(Brief Article)
October 26, 2001... Many families remain subject to estate tax. Even for those who do not; there are many examples of when a Family Limited Partnership ("FLP") remains a useful tool for the transfer and diversification of ownership while allowing for continuing...

IRA changes will benefit most taxpayers.(Economic Growth and Tax Relief Reconciliation Act)(Brief Article)(Statistical Data Included)
October 26, 2001... Beneficial changes were made by the Economic Growth and Tax Relief Reconciliation Act (EGTRRA of 2001), and even more importantly, IRS issued new proposed regulations on January 11, 2001 which allow most IRAs to beretained for a longer period...

Offshore Trusts - The "Performance" Foreign Vehicle.(Brief Article)
October 26, 2001... In the popular perception, an offshore trust is an arrangement which is sophisticated, complex, even sexy but also a little shady, perhaps nefarious. There's no escaping that Hollywood image. Think of that memorable scene from The Firm in...