Boston Business Journal articles from October 2001

Boston Business Journal archives from October 2001

Hotels shed staff, grasp for business.(Statistical Data Included)
October 5, 2001... For some, heavy debt service looms With the Sept. 11 terrorist attacks cutting into lodging industry profits nationwide, Boston and Cambridge hotels looking to boost plummeting business levels are turning more to their backyards for...

No fare.(taxi industry suffers)(Brief Article)(Statistical Data Included)
October 5, 2001... Taxi drivers bear the brunt of business decline After making only $80 in 10 hours driving his cab around Boston Monday, independent taxicab owner Jean Timothee went home discouraged, even though he knew he should have kept hustling. A...

IT firm Dynamics Research thrives from government work.(information technology)(Brief Article)(Statistical Data Included)
October 5, 2001... ANDOVER--Dynamics Research Corp. saw its stock price spike to a one-year high this past week, continuing on the path it has been on since late 1999. Not bad for a technology services company these days. Andover-based Dynamics' stock...

Employers confront ballooning premiums.(health insurance costs)(Brief Article)(Statistical Data Included)
October 5, 2001... Unable to bear the burden of rising health premiums, Art Gately III finally will do what he never wanted to do: Beginning Jan. 1, he will make his employees foot part of the bill for their doctor visits. Until now, his 750 employees at...

Altus secures $35M.(Altus Bioligics rasies $35 million)(Brief Article)(Statistical Data Included)
October 5, 2001... CAMBRIDGE--In what appears to be one of the largest recent rounds of venture financing in the biotechnology field, Altus Biologics Inc., a Cambridge-based company, has raised $35 million in private funds. The lead investors are Nomura...

Stride Rite stumbles.(job cuts, financial losses)(Brief Article)(Statistical Data Included)
October 5, 2001... LEXINGTON--Stride Rite Corp. has cut 120 jobs, or 20 percent of its administrative work force, and will take a loss in the fourth quarter of its fiscal year. The footwear maker announced it will take a pretax charge of, $2.5 million,. or 4...

Boston vacancies hit 11%, higher in the suburbs.(office vacancies)(Brief Article)(Statistical Data Included)
October 5, 2001... No one in real estate thought that third-quarter vacancy numbers would look good, and they were right. With an overall office vacancy rate of 11 percent in Boston's central business district and 17 percent in Cambridge and the inner...

Cost-conscious consensus-builder.(Sandra Labas Fenwick)(Statistical Data Included)
October 5, 2001... Children's COO Fenwick looks to steer hospital out of red ink Sandra Labas Fenwick is one of those administrators who knows her business from the bottom up. She went from being a candy striper to being chief operating officer of Children's...

Big law firms skirt freezes, but weigh retrenchments.(Boston law firms hiring graduates)(Brief Article)(Statistical Data Included)
October 5, 2001... Summer associate hirings remain steady despite an ailing economy A cross-section of the city's top law firms and schools, say Boston has side-stepped the lawyer freeze chilling some California firms, but some are eyeing future...

Hub's retail market hangs tough in a soft economy.(Brief Article)(Statistical Data Included)
October 5, 2001... Vacancy rates for shop space, however, take slight rise The Boston real estate market for retail space may be experiencing one of its highest vacancy rates in years, but the Hub's retail market remains relatively healthy. That's even...

SEC takes virtual stock game off the market.(Securities and Exchange Commission)(Brief Article)
October 5, 2001... Investing in the stock market is a tricky business, and a federal court case in Boston reveals that Internet-based fantasy games may not be all for Sport either. The U.S. Securities and Exchange Commission recently cleared a major hurdle...

WorldCom opens $40M data center.(Brief Article)
October 5, 2001... BILLERICA--WorldCom Inc. is betting big on Massachusetts' appetite for additional Internet data-center space. The telecom giant is opening a new, $40 million data center next week in Billerica, despite concerns on the part of at least one...

Knowing behavior of viruses is key to stopping them.(Brief Article)
October 5, 2001... It's no longer good enough just to know what Anna Kournikova looks like. How she behaves is what's important. Anna Kournikova the computer virus, that is, not the tennis celebrity. And the same holds true for Melissa, Loveletter, Code Red,...

Boston Partners' flow numbers bear up in bad market.(Brief Article)
October 5, 2001... The mutual-fund industry has taken a serious beating this year, as the bull market has caused fund assets to shrink and sales to fall. But one local mutual-fund company appears to have escaped the bull's stampede: Boston Partners Asset...

Teradyne taken to court over plummeting stock price.(Brief Article)
October 5, 2001... Sellers complain when semiconductor company's stock tanks, dropping sale compensation by millions The previous owners of two companies that Teradyne Inc. of Boston bought in August 2000 are suing the semiconductor-equipment company because...

Will heed the call for more civility in legal profession.(Brief Article)(Interview)
October 5, 2001... ON THE FLY with Michael Keating A call for increased civility in the legal profession tops the agenda for new Boston Bar Association president Michael Keating. Keating plans to convene a task force on the topic as well as one on technology...

Meeting planners make new plans after attacks.(Brief Article)
October 5, 2001... You knew things were bad for meeting planners when city leaders this past Monday presented the D.C.-based Urban Land Institute with a watercolor painting and a mayoral proclamation declaring "Urban Land Week" in Boston, all simply in gratitude...

Liberty earns support in holding-company move.(Liberty Mutual Group)(Brief Article)(Statistical Data Included)
October 5, 2001... Liberty Mutual Group, the Boston-based financial services firm, may have received some unexpected support for its plans to form a mutual holding company, which it is scheduled to defend before state regulators at a public hearing Oct. 10. ...

SuturTek falls victim to venture-capital queasiness.(for FastClose, a suturing instrument)(Brief Article)
October 5, 2001... Even as recently as five years ago, Jerry Brecher would have been the envy of any medical-device entrepreneur. His suturing instrument has received the requisite federal approval, and he said surgeons who tested the device in trials continue to...

Janitors' union now takes wage-hike petition to Tufts.(Brief Article)
October 5, 2001... MEDFORD--Bolstered by the heightened awareness of its cause at Harvard University, a local labor union is expanding its quest for better wages for janitors to Tufts University. Tufts' janitors work for an outside cleaning contractor,...

Wyndham wades into the luxury resort market.(Brief Article)
October 5, 2001... EDGARTOWN -- A Dallas-based hotel company is taking over the management of two Martha's Vineyard hotels. The publicly traded Wyndham International Inc. will manage the 53-room Kelley House and the 124-room Harbor View Hotel beginning Nov....

Venture-backed executives leaning toward the cash.(compensation)(Brief Article)
October 5, 2001... Cash is king for chief executives at venture-backed companies here in Massachusetts, as top brass at those companies have eschewed once-popular stock options in favor of higher base salaries. But the executives haven't entirely gained an...

Families of terror victims to gain easier access to kin's bank accounts.(World Trade Center attack)(Brief Article)
October 5, 2001... Massachusetts officials have asked state banks and credit unions to make it easier for families of those killed in September's terrorist attacks to have access to their relatives' accounts. Most notably, the state Division of Banks has...

Report: N.Y.'s office-space woes put in perspective.(after terrorist attack)(Brief Article)(Statistical Data Included)
October 5, 2001... It's still difficult to comprehend the sheer magnitude of destruction in New York on Sept. 11, let alone the tragic loss of life, but a few numbers compiled in a special report by Merrill Lynch and Grubb & Ellis Co. might help put things in...

Real estate conventions are on.(in Boston, Massachusetts, despite terrorist attacks)(Brief Article)
October 5, 2001... In the wake of the terrorist attacks, air travel has slumped and conventions have, been canceled, but Boston will still see a fair number of national real-estate conventions this month. This week's Urban Land Institute conference, a major,...

FireSpout takes aim at the online information glut.(develops tool to manage web site content)(Brief Article)(Product Announcement)
October 5, 2001... The web is our friend. It's a tool to make life easier. What a great thing, having a world of information within reach. And what an irritating thing, having a world of information within reach. Never mind the tens of thousands of...

Funding rounds continue for Stargus, and others.(Brief Article)
October 5, 2001... Stargus Inc. of Andover recently closed a $10.1 million round of funding. The startup, which is designing a broadband-access management product due to beunveiled later this year, plans to use the capital to continue product development and to...

Area's Largest Minority/Women-Owned Businesses.(Directory)(Illustration)(Statistical Data Included)
October 5, 2001... Areaa's Largest Minority/Women-Owned Businesses (ranked by 2000 revenue) Rank Company 2000 Revenue 1 Fidelity Investments [1] $11,100,000,000 82 Devonshire St., Boston 02109 ...

With purchase, IDG keeps circulation files in-house.(International Data Group, Standard Media International assets)(Brief Article)(Statistical Data Included)
October 5, 2001... Boston-based International Data Group purchased the subscriber lists, trademarks and newsletter assets of The Industry Standard publisher Standard Media International at Sept. 24 bankruptcy proceedings in San Francisco. IDG, a media,...

Conquest's new magazine to 'manufacture' competition.(Conquest Business Media to publish 'The Manufacturer')(Brief Article)
October 5, 2001... A United Kingdom-based business publishing company has launched a new magazine targeting manufacturers in North America. The Manufacturer will be published' by Conquest Business Media Inc. Although Conquest produces a magazine of the...

Largest Long-Distance Carriers & Resellers.(Directory)(Illustration)(Statistical Data Included)
October 5, 2001... Largest Long-Distance Carriers & Resellers [*] (ranked by total 2000 revenue for companies licensed in Mass.) Market share of 2000 total long-distance...

Just who is this PR diva?(Shannon Beth Harrington of North Star Marketing and Promotion)(Brief Article)
October 5, 2001... Move over, Madonna. The local public-relations scene has its own queen. Shannon Beth Harrington of Providence, R.I. -based North Star Marketing & Promotion is the company's official "PR Diva." "Editors will sometimes call me back just...

Maguire: Show us the money.(Terry Maguire, venture capitalists and medical device firm executives meet at Massachusetts Medical Device Industry Council conference)(Brief Article)
October 5, 2001... With the economy pointing south and the stock market shaky, it's fair to say there is little for investors and entrepreneurs to laugh about. But the medical-device industry is faring well, considering the times, and executives from Bay...

Fleeting change.(Fleet Boston Financial Corp.'s customer service)(Brief Article)
October 5, 2001... Here is something you might not have expected to see: Fleet Boston Financial Corp. is being spotlighted for its "performance excellence." The Boston bank is expected to show off its chops at an event coordinated by Mass Excellence, a...

Who's buying?(Equity Office Properties Trust)(Brief Article)
October 5, 2001... Maryann Gilligan Suydam, the regional senior vice president of Equity Office Properties Trust, worked in retail and commercial leasing before she made the jump to property management. As the head of Equity's Boston region, Suydam says she...

Economic stimulus bill may include small-business help.(Brief Article)
October 5, 2001... Small businesses could get tax breaks ranging from increased expensing limits to faster depreciation for computers and software as part of an economic stimulus package under consideration by Congress. Lobbying activity, which was put on...

Business groups join push for Senate energy action.(domestic energy production)(Brief Article)
October 5, 2001... Business groups put their clout behind Republican efforts to persuade the Senate to follow the House's lead and pass an energy bill designed to increase domestic production. A dependable energy supply is crucial for economic recovery,, say...

Colleges go on the offensive to guard biotech talent.(Brief Article)
October 5, 2001... With the biotechnology industry booming, there is no doubt a growing need for talent. The feeding frenzy on Boston's newest college graduates is being compounded by interest from the big-name pharmaceutical companies, which .are building...

More to come from Westaim Biomedical.(develops surgical dressing)(Brief Article)(Product Announcement)
October 5, 2001... And as further testament to Boston's allure, Westaim Biomedical moved last week to Wakefield from Exeter, N.H. Westaim, a division of Calgary, Alberta-based Westaim Corp., has developed a nanocrystalline silver-based surgical dressing that...

Investing in emotions and economics after tragedy.(terrorist attacks of September 11, 2001)(Brief Article)
October 5, 2001... These have been difficult weeks for those of us in the investment business. For many, the downturn in the markets has been the least of it. To all those who lost family, friends or colleagues on Sept. 11, I offer sympathy and sadness. I...

Viisage Technology Inc.(Brief Article)(Company Profile)(Statistical Data Included)
October 5, 2001... Viisage Technology Inc. is a provider of digital identification systems and services. The company focuses on identification services that improve personal convenience and security, deter fraud and reduce identification program costs. Viisage...

Sonus, Avici await possible backlash of Qwest cutbacks.(Brief Article)
October 5, 2001... Denver-based provider of Internet and voice services to cut $2B in spending A recent decision by Qwest Communications International Inc. to cut $2 billion from its 2002 spending plan is expected to put even more pressure on struggling...

A different stroke.(Carriage House Photography Inc)(Brief Article)
October 5, 2001... Carriage House's Spencer shows his love for master painters, and children, in his photography ANDOVER--Mark Spencer is as likely to talk about light, balance and composition as he is to discuss marketing strategies and revenue projections....

Relief for small business available for reservists.(Brief Article)
October 5, 2001... Massachusetts U.S. Sen. John F. Kerry, chairman of the Committee on Small Business and Entrepreneurship, announced that reservists called up to duty are able to take advantage of financial relief available through the Veterans Entrepreneurship...

MASSACHUSETTS STOCK INDEX.(Illustration)(Statistical Data Included)
October 5, 2001... MASSACHUSETTS STOCK INDEX Ticker Close Pct. 52-week Company Symbol Price Chg. High A. D. Technologies Inc. ADTC 0.50 -- 2.00...

The big finish.(Jay Cashman Inc., Modern Continental Construction Co., and J.F. White Contracting Co. plan for the future)(Brief Article)
October 5, 2001... As Boston's mammoth Central Artery Project nears completion, a slew of contractors weigh their options In three years, or so we are told, the last of the Central Artery Project's 118 separate construction contracts will be completed. When...

What do you do when OSHA comes knocking at your door?(Brief Article)
October 5, 2001... It's a brisk, autumn day, and your steel erector is close to completing the installation of the final sequence of roof trusses. With any luck, your building envelope and your roof will be completed well before winter, leaving a cozy shell for...

A volatile mix: Walking the line between old and new.(architects and communities debate historical value)(Brief Article)
October 5, 2001... Old cities have old buildings, and old buildings have friends. Putting new structures into historic neighborhoods can be difficult for architects and developers--and, for different reasons, historical societies and citizens intent on preserving...

Revitalization can combine the modern with the classic.(downtown Dayton, Ohio)(Brief Article)
October 5, 2001... GERBOTH, KAREN Jeremy Tomb cracks open a can of Diet Mountain Dew before heading to his steel-top conference table to discuss urban development issues. A resident of Dayton, Ohio, since 1995, Tomb, owner of New Haven Construction, seems...

Awareness grows regarding contractor watchdog tools.(Brief Article)
October 5, 2001... David Ruffner makes a career out entering other people's homes. Homeowners hire Ruffner to remodel their kitchens and bathrooms, install new windows, build an extra room or replace an old roof. And Ruffner, a 22-year veteran of the...

Bay State avoids the national building-labor shortage.(Brief Article)
October 5, 2001... Massachusetts is that rarest of states: A place where construction workers stay on the job. Thanks largely to a strong labor-union presence and a plethora of projects--from highway improvements to office-tower construction--the Bay State...

The glut of commercial space can be a trove of opportunities.
October 5, 2001... Depending upon your perspective, the high quantity of available office space in this region is either the cause or bellwether of a shrinking economy. The Boston and Cambridge areas, along with the communities served by Route 128 and Interstate...

Navigate the building codes without hitting the shoals.(Brief Article)
October 5, 2001... Though they can be described as something akin to a wilderness, building codes are not something you simply fly over, and there are certainly no shortcuts through them. People who deal with building codes say the only smart thing to do is...

Construction accidents hit Hispanics hard, study says.(Brief Article)
October 5, 2001... Industry groups, schools take steps to educate minorities about safety Construction companies, industry associations and ethnic organizations say they're offering safety awareness courses to their workers in an effort to stem the rising...

Environmental insurance can help mitigate real-estate risks.(Brief Article)
October 5, 2001... There are a number of environmental exposures associated with commercial real estate mergers, acquisitions and sales. Often the risks these exposures present can have a significant impact on a deal, whether positive or negative. First,...

Relocation brings challenges, but it presents opportunities.(Brief Article)
October 5, 2001... It has been said that the key to success is to prepare for the worst and hope for the best. Such is the case with corporate relocation. Regardless of whether yo're relocating corporate offices high-tech space, biotech/biomed facilities, or...

Constructive criticism: Save cash with front-end systems.(Brief Article)
October 5, 2001... Building today is a complex process, one filled with uncertainty and risk. Getting it right the first time means anticipating potential problems while understanding the financial, political, environmental and real estate implications of...

PERSONNEL FILE.
October 5, 2001... ADVERTISING/COMMUNICATIONS Mary Davenport, former chief operating officer of Mondernistal in Boston, joined Element Productions, a Boston-based full service production company, as executive producer. Richard Lodge was named editor of...

Stephen Burdick Design.(contracts)(Brief Article)
October 5, 2001... Stephen Burdick Design of Boston initiated the following projects for Boston area clients: an advertising campaign for Wainwright Bank; a series of 2001 newsletters for TAC (Technical Assistance Collaborative); a direct mailer for Garden...

Magic Hour Communications.
October 5, 2001... Magic Hour Communications of Watertown created the theme, logo and web site for the 2001 Massachusetts Interactive Media Council Awards, which will be held on Oct. 15.

Pohly & Partners.(publishing contract)(Brief Article)
October 5, 2001... Pohly & Partners of Boston was hired by the Massachusetts Lodging. Association to publish the association's Great Escapes magazine, with the first revamped issue scheduled for publication in late December 2001.

Amerivault corp.(Inside Out Communications contract)(Brief Article)
October 5, 2001... Holliston-based Inside Out Communications was hired to handle marketing efforts for amerivault corp., a Waltham-based company that provides online backup for businesses worldwide. The campaign will include print ads, outdoor, case studies,...

BaseSix.(OpenReach Inc. contract)(Brief Article)
October 5, 2001... BaseSix, a Boston-based marketing and technical development firm, collaborated with OpenReach Inc., a. Woburn-based provider of virtual private network services, on the redevelopment of the company's web site. The site has been reinvisioned to...

Stubbins Associates.(Emerson College contract)(Brief Article)
October 5, 2001... Stubbins Associates of Cambridge was selected by Emerson College of Boston to design the new College Center and Residence Hall planned for 144-156 Boylston Street. Located between Tremont Street and Park Square, the 14,900-square-foot parcel...

Tsoi/Kobus & Associates.(award)(Brief Article)
October 5, 2001... Tsoi/Kobus & Associates of Cambridge received the Healthcare Facilities Design Award from the Boston Society of Architects/American Institute of Architects and The Healthcare Assembly, in recognition of the firm's work on the jaindl Family...

Sasaki Associates Inc.(award)(Brief Article)
October 5, 2001... Sasaki Associates Inc. of Watertown was selected by Corporate Interiors, an annual publication, as one of the top interior design firms in the U.S., based on such factors as visual work and ability to solve problems.

Medford Bank.(affordable housing donation)(Brief Article)
October 5, 2001... Medford Bank donated $1,000 to an affordable housing program jointly administered by the town of Arlington and the nonprofit Housing Corp. of Arlington. The program will utilize, the funds to purchase and revamp affordable rental properties...

Vertex Pharmaceuticals Inc.(Array BioPharma contract)(Brief Article)
October 5, 2001... Vertex Pharmaceuticals Inc. of Cambridge and Array BioPharma Inc. of Boulder, Cole., reached an agreement to collaborate on the discovery and development of small-molecule drugs directed at two specific targets in the phosphatase protein...

Cardio Tech International.(Brief Article)
October 5, 2001... Woburn-based Cardio Tech International was awarded a second-year Phase II Small Business Technology Grant, totaling $249,782, from the National Institutes of Health. This research is being conducted in conjunction with the University of Rhode...

Stowe Engineering Corp.(acquired by Greenman-Pederson Inc.)(Brief Article)
October 5, 2001... Stowe Engineering Corp. of Norwell was acquired by Greenman-pederson Inc. (GPI), a N.Y.-based engineering, planning and construction inspection firm. The company will now operate as Stowe Power, a division of GPI.

Battelle.(contract with the US Army Corps of Engineers)(Brief Article)
October 5, 2001... Duxbury-based Battelle's coastal resource and environmental management division was awarded the $10 million re-bid of an environmental consulting contract by the U.S. Army Corps of Engineers, New England district, for whom it will provide...

FurnitureFan Inc.(alliance with Best Brands Plus)(Brief Article)
October 5, 2001... FurnitureFan Inc. of Sudbury entered into an alliance with Best Brands Plus, a Germantown, Tenn.-based organization of furniture, appliance, and electronic retailers, whereby FurnitureFan will initially provide 12 selected Best Brands Plus...

SatCon Technology Corp.(Brief Article)
October 5, 2001... Cambridge-based SatCon Technology Corp. delivered four digital power control and conversion systems that were installed and operationally tested in the new Reconnaissance, Surveillance and Targeting Vehicle being developed for the U.S. Marine...

Dunkin Donuts.(Brief Article)
October 5, 2001... Dunkin Donuts, whose parent company, Allied Domecq, has corporate offices in Randolph, launched a major new in-store promotion,. "Dunkin' Donuts Sports Dreams," that for the first time includes the participation of star players from each of...

Dress for Success.(opens store in Roslindale Village)(Brief Article)
October 5, 2001... Dress for Success, a New York-based nonprofit organization with affiliates in 72 cities across the U.S., opened a new regional store at 20 Birch Street, Roslindale Village. The aim of the nonprofit boutique is to assist women who are preparing...

Lynn plant stung as GE Aircraft reduces its work force.(GE Aircraft Engines)(Brief Article)(Statistical Data Included)
October 5, 2001... General Electric Aircraft Engines plans to reduce its work force by 18 percent, roughly 4,000 jobs, by. early 2002, as a result of the drop in demand for aircraft engines and parts following the Sept. 11 terrorist attacks. About 250 of those...

Polaroid's dim fiscal picture.(Brief Article)(Statistical Data Included)
October 5, 2001... Analysts are warning that that Cambridge-based Polaroid Corp. is moving closer to seeking bankruptcy protection. In addition, local media published an internal company memo warning that the instant-photography company's pension fund is at least...

Developer mulls delays to convention center hotel.(Starwood Hotels and Resorts Worldwide)(Brief Article)
October 5, 2001... Representatives of the New York-based hotel chain that is supposed to build the hotel attached to the new Boston Convention & Exhibition Center is reportedly weighing the possibility of delaying construction of the $264 million project by one...

Bill would save firms $100M.(block increase to Massachusetts Unemployment Insurance Trust Fund)(Brief Article)
October 5, 2001... A key committee in the state House of Representatives has approved a bill that could spare Massachusetts businesses $100 million in new costs. The full House is scheduled to debate the measuer Wednesday. Under existing state law, businesses...

People's Bancshares bought.(Brief Article)(Statistical Data Included)
October 5, 2001... Firstfed America Bancorp Inc. of Swansea has agreed to acquire People's Bancshares Inc., a New Bedford-based bank holding company, for approximately $72 million in cash and stock. The sale comes after People's, which had been plagued by falling...

Textron gets $13M contract.(Brief Article)
October 5, 2001... Wilmington-based Textron Systems, a wholly owned subsidiary of Providence, R.I.-based Textron Inc., said it has received a $13 million contract from the U.S. Air Force Research Laboratory to conduct experiments that assess the effectiveness of...

Some principles for the budget debate.(Brief Article)
October 5, 2001... It was only a few months ago that acting Gov. Jane Swift wanted to dole out part of a $500 million budget, surplus in the form of one-time rebates to working families. It's safe to say that idea is off the table. So are a lot of other spending...

After attack, hard-boiled Bostonian changes.(terrorist attacks of September 11, 2001)(Brief Article)(Column)
October 5, 2001... It's been a few weeks now, and I suppose the initial shock has begun to fade. All the stories of where you were when it happened have been told. The -constant monitoring of CNN has slowly regressed back to "must-see TV." The live shots of the...

Coming this fall: The paid parental-leave debate.(Brief Article)
October 5, 2001... Like a State House feature movie, the paid parental leave debate is coming to Beacon Hill this fall. When it is over, Massachusetts may have a paid-leave program for employees with new children funded by a tax on employers unless a sizable and...