Business - BostonHerald.com

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Sat, 20 Oct 2012 07:24:03 -0400 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061169000&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061169000&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061169000&srvc=rss WASHINGTON - Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about... business Sat, 20 Oct 2012 06:51:57 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168949&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168949&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168949&srvc=rss Jamaica Plain residents were left speechless and frustrated Thursday night after the Boston Redevelopment Authority... business Fri, 19 Oct 2012 22:55:00 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168940&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168940&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168940&srvc=rss City Councilor Salvatore LaMattina threw his "full support" yesterday behind a proposed Boston Harbor Cruises floating... business Fri, 19 Oct 2012 22:41:09 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168970&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168970&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168970&srvc=rss NEW YORK - Television viewership for the AL championship series on TBS was up 28 percent over last year's coverage... business Fri, 19 Oct 2012 22:01:35 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168936&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168936&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168936&srvc=rss This architect-designed Cambridge contemporary built in 1955 is the home of famed legal eagle and Harvard law... business Fri, 19 Oct 2012 21:53:04 -0400 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168934&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168934&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168934&srvc=rss Is it a car, a van or a throwback to old-style station wagons? The Ford Flex rides smoothly, seats up to... business Fri, 19 Oct 2012 21:38:16 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168939&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168939&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168939&srvc=rss Somerville resident Sophia Shrand plays the role of the Tooth Fairy during Central Square Theater's Youth Underground... business Fri, 19 Oct 2012 21:33:06 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168929&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168929&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168929&srvc=rss WASHINGTON - Regulators say they have closed two banks in Florida, and one in Missouri, bringing to 46 the number... business Fri, 19 Oct 2012 19:37:24 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168923&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168923&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168923&srvc=rss WASHINGTON - Freezing human eggs can be successful in treating infertility - but guidelines issued Friday still... business Fri, 19 Oct 2012 18:24:16 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168757&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168757&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168757&srvc=rss The struggling New England Patriots have a new song penned by Aerosmith, sung by Steven Tyler to the tune of the... business Fri, 19 Oct 2012 18:12:27 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168896&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168896&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168896&srvc=rss WASHINGTON - The maker of Banana Boat sunscreen is recalling some half-million bottles of spray-on lotion after... business Fri, 19 Oct 2012 17:28:34 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168915&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168915&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168915&srvc=rss NEW YORK - Poor corporate earnings reports pounded the stock market today in a sour end to an otherwise strong... business Fri, 19 Oct 2012 17:05:53 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168913&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168913&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168913&srvc=rss Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about the safety of the... business Fri, 19 Oct 2012 16:51:37 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168897&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168897&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168897&srvc=rss Hub City Councilor Salvatore LaMattina threw "full support" today behind a proposed Boston Harbor Cruises floating... business Fri, 19 Oct 2012 15:06:27 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168894&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168894&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168894&srvc=rss After more than 20 years down the stairs from Suffolk Superior Court, Goverment Center staple Plaza Deli & Catering... business Fri, 19 Oct 2012 14:43:08 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168875&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168875&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168875&srvc=rss The Boston Redevelopment Authority has approved Boston University's $172 million expansion of its law school tower... business Fri, 19 Oct 2012 14:30:50 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168886&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168886&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168886&srvc=rss Steward Health Care System and Partners HealthCare have entered into a partnership, effective immediately, focusing... business Fri, 19 Oct 2012 13:49:51 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168884&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168884&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168884&srvc=rss MADRID - Spain is considering a ban on photographing, filming or reproducing images of police and state security... business Fri, 19 Oct 2012 13:40:06 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168883&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168883&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168883&srvc=rss TransCanada has reaffirmed its plan to restart the Keystone oil pipeline from Canada to the Midwest on Saturday,... business Fri, 19 Oct 2012 13:35:56 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168871&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168871&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168871&srvc=rss The price of oil is falling after TransCanada reaffirmed its plans to restart a pipeline this weekend that carries... business Fri, 19 Oct 2012 11:44:48 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168867&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168867&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168867&srvc=rss Local real estate nonprofit Historic Boston Inc. will receive $200,000 to turn the historic Alvah Kittredge House... business Fri, 19 Oct 2012 11:18:19 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168864&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168864&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168864&srvc=rss Brookline-based Beaver Country Day School has been awarded a Lemelson-MIT InvenTeam grant of $10,000 to create... business Fri, 19 Oct 2012 11:17:27 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168863&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168863&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168863&srvc=rss Local ad agency Hill Holliday was awarded "Best of Show" this week at the Ad Club's 52nd annual Hatch Awards for... business Fri, 19 Oct 2012 11:16:46 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168865&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168865&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168865&srvc=rss Hub-based web production company Bocoup will host a two-day conference in December designed to help aspiring web... business Fri, 19 Oct 2012 11:16:02 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168759&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168759&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168759&srvc=rss Dozens of workers from companies affiliated with Bain Capital, the private equity firm founded by GOP presidential... business Fri, 19 Oct 2012 11:06:32 -0400

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Sat, 20 Oct 2012 07:24:03 -0400 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061169000&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061169000&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061169000&srvc=rss WASHINGTON - Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about... business Sat, 20 Oct 2012 06:51:57 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168949&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168949&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168949&srvc=rss Jamaica Plain residents were left speechless and frustrated Thursday night after the Boston Redevelopment Authority... business Fri, 19 Oct 2012 22:55:00 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168940&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168940&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168940&srvc=rss City Councilor Salvatore LaMattina threw his "full support" yesterday behind a proposed Boston Harbor Cruises floating... business Fri, 19 Oct 2012 22:41:09 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168970&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168970&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168970&srvc=rss NEW YORK - Television viewership for the AL championship series on TBS was up 28 percent over last year's coverage... business Fri, 19 Oct 2012 22:01:35 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168936&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168936&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168936&srvc=rss This architect-designed Cambridge contemporary built in 1955 is the home of famed legal eagle and Harvard law... business Fri, 19 Oct 2012 21:53:04 -0400 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168934&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168934&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168934&srvc=rss Is it a car, a van or a throwback to old-style station wagons? The Ford Flex rides smoothly, seats up to... business Fri, 19 Oct 2012 21:38:16 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168939&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168939&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168939&srvc=rss Somerville resident Sophia Shrand plays the role of the Tooth Fairy during Central Square Theater's Youth Underground... business Fri, 19 Oct 2012 21:33:06 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168929&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168929&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168929&srvc=rss WASHINGTON - Regulators say they have closed two banks in Florida, and one in Missouri, bringing to 46 the number... business Fri, 19 Oct 2012 19:37:24 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168923&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168923&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168923&srvc=rss WASHINGTON - Freezing human eggs can be successful in treating infertility - but guidelines issued Friday still... business Fri, 19 Oct 2012 18:24:16 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168757&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168757&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168757&srvc=rss The struggling New England Patriots have a new song penned by Aerosmith, sung by Steven Tyler to the tune of the... business Fri, 19 Oct 2012 18:12:27 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168896&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168896&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168896&srvc=rss WASHINGTON - The maker of Banana Boat sunscreen is recalling some half-million bottles of spray-on lotion after... business Fri, 19 Oct 2012 17:28:34 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168915&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168915&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168915&srvc=rss NEW YORK - Poor corporate earnings reports pounded the stock market today in a sour end to an otherwise strong... business Fri, 19 Oct 2012 17:05:53 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168913&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168913&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168913&srvc=rss Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about the safety of the... business Fri, 19 Oct 2012 16:51:37 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168897&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168897&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168897&srvc=rss Hub City Councilor Salvatore LaMattina threw "full support" today behind a proposed Boston Harbor Cruises floating... business Fri, 19 Oct 2012 15:06:27 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168894&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168894&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168894&srvc=rss After more than 20 years down the stairs from Suffolk Superior Court, Goverment Center staple Plaza Deli & Catering... business Fri, 19 Oct 2012 14:43:08 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168875&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168875&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168875&srvc=rss The Boston Redevelopment Authority has approved Boston University's $172 million expansion of its law school tower... business Fri, 19 Oct 2012 14:30:50 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168886&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168886&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168886&srvc=rss Steward Health Care System and Partners HealthCare have entered into a partnership, effective immediately, focusing... business Fri, 19 Oct 2012 13:49:51 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168884&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168884&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168884&srvc=rss MADRID - Spain is considering a ban on photographing, filming or reproducing images of police and state security... business Fri, 19 Oct 2012 13:40:06 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168883&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168883&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168883&srvc=rss TransCanada has reaffirmed its plan to restart the Keystone oil pipeline from Canada to the Midwest on Saturday,... business Fri, 19 Oct 2012 13:35:56 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168871&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168871&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168871&srvc=rss The price of oil is falling after TransCanada reaffirmed its plans to restart a pipeline this weekend that carries... business Fri, 19 Oct 2012 11:44:48 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168867&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168867&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168867&srvc=rss Local real estate nonprofit Historic Boston Inc. will receive $200,000 to turn the historic Alvah Kittredge House... business Fri, 19 Oct 2012 11:18:19 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168864&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168864&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168864&srvc=rss Brookline-based Beaver Country Day School has been awarded a Lemelson-MIT InvenTeam grant of $10,000 to create... business Fri, 19 Oct 2012 11:17:27 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168863&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168863&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168863&srvc=rss Local ad agency Hill Holliday was awarded "Best of Show" this week at the Ad Club's 52nd annual Hatch Awards for... business Fri, 19 Oct 2012 11:16:46 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168865&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168865&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168865&srvc=rss Hub-based web production company Bocoup will host a two-day conference in December designed to help aspiring web... business Fri, 19 Oct 2012 11:16:02 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168759&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168759&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168759&srvc=rss Dozens of workers from companies affiliated with Bain Capital, the private equity firm founded by GOP presidential... business Fri, 19 Oct 2012 11:06:32 -0400

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Foreign investment in China falls in September

BEIJING — Foreign investment in China fell again in September and a government spokesman said Friday it was too early to forecast a recovery in trade.

The decline in foreign direct investment added to mixed signals about the health of China's economy following Thursday's report that growth slowed to 7.4 percent in the latest quarter. Retail sales and factory output improved, prompting suggestions a recovery might be taking shape.

Foreign direct investment fell 6.8 percent from a year earlier to $8.4 billion, the Ministry of Commerce reported. FDI includes investment in factories and other assets but excludes stocks and other financial assets.

Ministry spokesman Shen Danyang said it was too early to say trade growth is recovering from its slump despite a 9.9 percent rise in exports in September. Shen said global conditions were still difficult and uncertain.

"External demand still faces a lot of difficulties, so we cannot conclude from this month's data alone that China's foreign trade growth has recovered," Shen said at a news conference.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Bain bus protestors blast Mitt Romney's outsourcing record

Dozens of workers from companies affiliated with Bain Capital, the private equity firm founded by GOP presidential candidate Mitt Romney, demonstrated in Boston yesterday, blasting Romney for vowing he'll be tough on China, the very country to which their jobs are being shipped.

In rallies outside Bain's headquarters in Copley Square and Romney's campaign headquarters in the North End, where they unfurled a 40-foot banner urging "Stop the Romney Bain Economy," employees of Sensata Technologies, which Bain bought in 2006 and still owns 51 percent of, said some of them have been forced to train the Chinese workers who will replace them before the year's end.

"(Romney) plans to run this country like a business, and right now, the most lucrative business is outsourcing," said Dot Turner, who, at 62, will have to start a second career after the Freeport, Ill., plant where she has worked for 43 years closes. "Romney would treat the United States like a business acquisition."

In an email last night, a spokeswoman for Romney, who left Bain Capital in 1999 but remains an investor in the company through his blind trust, said he "built Bain Capital by fixing broken companies and helping new ones grow. The new companies he helped launch — including Staples, Sports Authority and Bright Horizons — have created 100,000 jobs."

A Bain spokesman declined to comment.

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Patriots score 'Legendary' anthem

The struggling New England Patriots [team stats] have a new song penned by Aerosmith, sung by Steven Tyler to the tune of the band's "Legendary Child" and set to drop today just in time to psyche up the team for a crucial AFC East showdown with the New York Jets [team stats] this Sunday.

It's all part of the Pepsi NFL Anthems program and the Jets have a new song, too — "Like a Jet," written and performed by Gang Green fan Lenny Kravitz.

"We're excited to have Aerosmith, America's greatest rock band, involved in the program," Todd Kaplan, Pepsi's director of sports marketing, told the Her- ald yesterday. "They've written new lyrics to 'Legendary Child' inspired by the New England Patriots [team stats] and call the song 'Legendary Child — Patriots Anthem.' "

Fans can download the songs for free starting today at PepsiAnthems.com and Pepsi will premiere commercials featuring the new music during Sunday's game.

The Pepsi program has already produced songs from top artists for five other NFL teams: Kid Rock (Detroit Lions), Kelly Clarkson (Dallas Cowboys), Ice Cube (Oakland Raiders) and Travie McCoy (New York Giants), as well as a remix of Pittsburgh's "Black and Yellow" by Wiz Khalifa.

Starting Oct. 28, those five songs, which are also available online, will be featured in Pepsi spots during NFL games, but the food and beverage giant wanted to premiere its anthem ads during the Pats-Jets battle.

"The rivalry between these two teams — the Patriots and the Jets — is one of the most iconic rivalries in the sport and will serve as a great place to roll out our anthems," said Kaplan, who wouldn't pick a winner on Sunday, saying "I'm a huge fan of all teams" during a phone interview from the Mercedes-Benz Superdome in New Orleans where he was doing a pre-Super Bowl walk-through. PepsiCo has recently signed on as the sponsor of the Feb. 13 event's halftime show featuring Beyonce.

Kaplan called Aerosmith the "perfect fit" for the new Patriots song and Pepsi's "Live For Now" ad campaign.

"Aerosmith has been a huge supporter of the city of Boston and the New England Patriots," he said. "They've really worked on the song and are very excited to release it to Patriots fans."

"It's a great way to reward the fans," Kaplan added. "Ultimately, these songs are for them."

18.38 | 0 komentar | Read More

Boston startup moving money

Scvngr, the Hub startup that uses mobile games to motivate consumers, has shifted focus to its rapidly expanding payment platform LevelUp, nearly doubling its monthly transaction amount in just four months.

"Scvngr (pronounced Scavenger) is doing really well," company founder and "Chief Ninja" Seth Priebatsch told the Herald. "It's growing, but it's not the core focus of the company anymore. Hasn't been for a while."

Make no mistake, Priebatsch — the oft-barefoot, orange-clad, work-obsessed 23-year-old entrepreneurial savant — has hardly abandoned his quest to "place a game layer on top of the world."

But the game has shifted. To money. Not earning it — moving it.

"We sort of made this transition — instead of using game mechanics to drive people to places, using game mechanics to drive people to places and then transact," Priebatsch said.

With a $21 million Series D funding bonanza under its belt, LevelUp is advancing its Interchange Zero mobile network, in which it takes away the processing fees that credit card companies charge. The business model is intended to give the company a cut of only the revenue increases it creates for merchants via special promotions and campaigns.

As for the customers, LevelUp creates loyalty discounts and programs that Priebatsch likens to the sunken rewards that the mobile generation is accustomed to seeing in video games.

It all relates to one goal: make the cost of moving money go away, taking with it the reviled credit card interchange that costs businesses between three and six cents on the dollar.

"We can add a lot more value if we only take a portion of the marginal revenue increase we can create, and we can make a lot more money than if we charge merchants for just the utility of moving money," Priebatsch said.

For someone who claims a complete lack of interest in his own money, Priebatsch certainly has a knack for making it, with 3,800 merchants in 32 cities and transactions expected to approach $4 million a month.

"The cost to move a dollar from point A to point B needs to be free," he said. "Like Google made the idea of moving information totally free and created this entirely weird spawn of awesome companies and awesome things, we look at the same thing happening with money. As we are able to move money cheaper and cheaper, it will move faster, will go more places and there will be more money moving."

To Priebatsch, that's beating the game.

18.38 | 0 komentar | Read More

Business - BostonHerald.com

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Thu, 18 Oct 2012 07:32:58 -0400 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/general/view.bg?articleid=1061168516&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168516&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168516&srvc=rss Massachusetts' top financial cop cracked down on Putnam Investments yesterday for its alleged role in promoting... business Thu, 18 Oct 2012 05:50:37 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168511&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168511&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168511&srvc=rss A new study suggests a multivitamin a day could help reduce the risk of cancer in older men, but one expert cautions... business Thu, 18 Oct 2012 05:50:12 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168533&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168533&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168533&srvc=rss NEW YORK - Macy's is firing its first salvo at the millennials. The venerable department store chain is launching... business Thu, 18 Oct 2012 01:27:25 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168526&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168526&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168526&srvc=rss Hailo says hello to Hub European startup Hailo, which hails cabs for users with just two taps on their smartphones,... business Wed, 17 Oct 2012 22:55:34 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168512&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168512&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168512&srvc=rss Some outdoor advertisers are displaying their displeasure with the state's plan to craft new rules for digital... business Wed, 17 Oct 2012 22:16:09 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168462&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168462&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168462&srvc=rss LOS ANGELES - A federal judge has ruled that the heirs of one of Superman's creators have no right to reclaim copyrights... business Wed, 17 Oct 2012 21:08:55 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168461&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168461&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168461&srvc=rss NEW YORK - The government on Wednesday urged a judge to send a former Goldman Sachs board member convicted of... business Wed, 17 Oct 2012 21:07:24 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168451&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168451&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168451&srvc=rss An office building a block from the State House is up for sale. Real estate firm Jones Lang LaSalle said today... business Wed, 17 Oct 2012 19:01:27 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168356&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168356&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168356&srvc=rss Something as simple - and cheap - as a multivitamin a day could help reduce the risk of cancer in older men, say... business Wed, 17 Oct 2012 18:43:01 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168432&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168432&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168432&srvc=rss NEW YORK - Federal authorities today arrested a man they said was plotting to blow up the Federal Reserve building... business Wed, 17 Oct 2012 18:42:42 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168447&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168447&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168447&srvc=rss Exercise equipment maker Cybex is going private in a merger deal that will result in the Medway company being owned... business Wed, 17 Oct 2012 17:48:29 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168231&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168231&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168231&srvc=rss CNN's Candy Crowley ventured into dangerous territory last night, briefly playing the role of live fact-checker... business Wed, 17 Oct 2012 17:06:01 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168435&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168435&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168435&srvc=rss Hub-based solar power company Satcon filed for Chapter 11 bankruptcy protection today, the second local renewable... business Wed, 17 Oct 2012 16:21:53 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168367&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168367&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168367&srvc=rss Putnam Advisory Co., a subsidiary of Putnam Investments, has been charged with deceiving investors in its role... business Wed, 17 Oct 2012 15:08:33 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168421&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168421&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168421&srvc=rss MGM Resorts International said today it is expanding its investment in Springfield to include a $5 million loan... business Wed, 17 Oct 2012 14:58:48 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168415&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168415&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168415&srvc=rss Richards Barry Joyce & Partners has been hired to market the office space at Copley Place. Mall owner Simon... business Wed, 17 Oct 2012 14:35:09 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168186&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168186&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168186&srvc=rss Consumers planning to mark the start of the holiday shopping season with a Black Friday trip to Wrentham Village... business Wed, 17 Oct 2012 14:17:22 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168414&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168414&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168414&srvc=rss ROANOKE, Va. - An 80-year-old Virginia man who says he contracted fungal meningitis after he received an injection... business Wed, 17 Oct 2012 14:13:36 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168409&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168409&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168409&srvc=rss Lowell C. McAdam, chairman and CEO of Verizon, will be the keynote speaker at Boston College's Chief Executives'... business Wed, 17 Oct 2012 14:00:57 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168407&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168407&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168407&srvc=rss MassChallenge, an annual $1 million global startup competition and accelerator program, has announced the speakers... business Wed, 17 Oct 2012 13:53:25 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168383&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168383&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168383&srvc=rss WASHINGTON - Federal regulators are proposing setting minimum capital levels that banks and other firms that trade... business Wed, 17 Oct 2012 13:49:45 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168406&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168406&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168406&srvc=rss LAGOS, Nigeria - Gunmen attacked a ship operated by a French oil and gas services company off the coast of Nigeria's... business Wed, 17 Oct 2012 13:49:09 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168405&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168405&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168405&srvc=rss BOSTON - Satcon Technology Corp. on Wednesday filed for Chapter 11 bankruptcy protection following years of financial... business Wed, 17 Oct 2012 13:46:45 -0400 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168390&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168390&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168390&srvc=rss Cambridge-based car sharing service Zipcar Inc. said today it has completed the integration of Spain's largest... business Wed, 17 Oct 2012 12:47:53 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168387&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168387&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168387&srvc=rss NEW YORK - A Barry Diller-backed company called Aereo is broadening availability of its service even as broadcasters... business Wed, 17 Oct 2012 12:39:04 -0400

http://www.bostonherald.com/business/?srvc=rss The Boston Herald online: The closest distance between you and the news en-us Copyright 2012, Herald Interactive, Inc. Thu, 18 Oct 2012 07:32:58 -0400 systems@heraldinteractive.com (Web Developers) 120 http://cache.heraldinteractive.com/images/siteImages/rss_logo.jpg http://www.bostonherald.com/business/?srvc=rss 100 48 The Boston Herald online: The closest distance between you and the news http://www.bostonherald.com/business/general/view.bg?articleid=1061168516&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168516&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168516&srvc=rss Massachusetts' top financial cop cracked down on Putnam Investments yesterday for its alleged role in promoting... business Thu, 18 Oct 2012 05:50:37 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168511&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168511&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168511&srvc=rss A new study suggests a multivitamin a day could help reduce the risk of cancer in older men, but one expert cautions... business Thu, 18 Oct 2012 05:50:12 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168533&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168533&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168533&srvc=rss NEW YORK - Macy's is firing its first salvo at the millennials. The venerable department store chain is launching... business Thu, 18 Oct 2012 01:27:25 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168526&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168526&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168526&srvc=rss Hailo says hello to Hub European startup Hailo, which hails cabs for users with just two taps on their smartphones,... business Wed, 17 Oct 2012 22:55:34 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168512&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168512&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168512&srvc=rss Some outdoor advertisers are displaying their displeasure with the state's plan to craft new rules for digital... business Wed, 17 Oct 2012 22:16:09 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168462&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168462&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168462&srvc=rss LOS ANGELES - A federal judge has ruled that the heirs of one of Superman's creators have no right to reclaim copyrights... business Wed, 17 Oct 2012 21:08:55 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168461&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168461&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168461&srvc=rss NEW YORK - The government on Wednesday urged a judge to send a former Goldman Sachs board member convicted of... business Wed, 17 Oct 2012 21:07:24 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168451&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168451&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168451&srvc=rss An office building a block from the State House is up for sale. Real estate firm Jones Lang LaSalle said today... business Wed, 17 Oct 2012 19:01:27 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168356&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168356&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168356&srvc=rss Something as simple - and cheap - as a multivitamin a day could help reduce the risk of cancer in older men, say... business Wed, 17 Oct 2012 18:43:01 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168432&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168432&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168432&srvc=rss NEW YORK - Federal authorities today arrested a man they said was plotting to blow up the Federal Reserve building... business Wed, 17 Oct 2012 18:42:42 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168447&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168447&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168447&srvc=rss Exercise equipment maker Cybex is going private in a merger deal that will result in the Medway company being owned... business Wed, 17 Oct 2012 17:48:29 -0400 http://www.bostonherald.com/business/media/view.bg?articleid=1061168231&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168231&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061168231&srvc=rss CNN's Candy Crowley ventured into dangerous territory last night, briefly playing the role of live fact-checker... business Wed, 17 Oct 2012 17:06:01 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168435&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168435&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168435&srvc=rss Hub-based solar power company Satcon filed for Chapter 11 bankruptcy protection today, the second local renewable... business Wed, 17 Oct 2012 16:21:53 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168367&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168367&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168367&srvc=rss Putnam Advisory Co., a subsidiary of Putnam Investments, has been charged with deceiving investors in its role... business Wed, 17 Oct 2012 15:08:33 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168421&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168421&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168421&srvc=rss MGM Resorts International said today it is expanding its investment in Springfield to include a $5 million loan... business Wed, 17 Oct 2012 14:58:48 -0400 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168415&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168415&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061168415&srvc=rss Richards Barry Joyce & Partners has been hired to market the office space at Copley Place. Mall owner Simon... business Wed, 17 Oct 2012 14:35:09 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168186&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168186&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168186&srvc=rss Consumers planning to mark the start of the holiday shopping season with a Black Friday trip to Wrentham Village... business Wed, 17 Oct 2012 14:17:22 -0400 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168414&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168414&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061168414&srvc=rss ROANOKE, Va. - An 80-year-old Virginia man who says he contracted fungal meningitis after he received an injection... business Wed, 17 Oct 2012 14:13:36 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168409&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168409&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168409&srvc=rss Lowell C. McAdam, chairman and CEO of Verizon, will be the keynote speaker at Boston College's Chief Executives'... business Wed, 17 Oct 2012 14:00:57 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168407&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168407&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168407&srvc=rss MassChallenge, an annual $1 million global startup competition and accelerator program, has announced the speakers... business Wed, 17 Oct 2012 13:53:25 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168383&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168383&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168383&srvc=rss WASHINGTON - Federal regulators are proposing setting minimum capital levels that banks and other firms that trade... business Wed, 17 Oct 2012 13:49:45 -0400 http://www.bostonherald.com/business/general/view.bg?articleid=1061168406&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168406&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061168406&srvc=rss LAGOS, Nigeria - Gunmen attacked a ship operated by a French oil and gas services company off the coast of Nigeria's... business Wed, 17 Oct 2012 13:49:09 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168405&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168405&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168405&srvc=rss BOSTON - Satcon Technology Corp. on Wednesday filed for Chapter 11 bankruptcy protection following years of financial... business Wed, 17 Oct 2012 13:46:45 -0400 http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168390&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168390&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/automotive/view.bg?articleid=1061168390&srvc=rss Cambridge-based car sharing service Zipcar Inc. said today it has completed the integration of Spain's largest... business Wed, 17 Oct 2012 12:47:53 -0400 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168387&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168387&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061168387&srvc=rss NEW YORK - A Barry Diller-backed company called Aereo is broadening availability of its service even as broadcasters... business Wed, 17 Oct 2012 12:39:04 -0400

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After Vikram Pandit, a smaller Citi could get smaller yet

NEW YORK — The incredible shrinking bank may have to shrink more.

In the hours after Tuesday's surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation's third-largest bank.

But one possibility given high odds by financial analysts: More cost-cutting, more shrinking and more focus on boring, traditional banking, like making loans.

"It's going to get a lot smaller," said Gerard Cassidy, a long-time banking analyst at RBC Capital Markets. "You've got to shrink to make big money."

In the nearly five years since Pandit took over as CEO, he shed businesses and cut jobs. Staff fell from 375,000 when he took over to 262,000.

Once the nation's largest bank, Citi is now the third-largest, with $1.9 trillion in assets. It trails JPMorgan Chase, with $2.3 trillion, and Bank of America, with $2.1 trillion.

Citi's new CEO is Michael Corbat, 52. He had been the CEO of Citigroup's Europe, Middle East and Africa division. He also ran Citi Holdings, which contains assets that Citi wants to sell.

Because Corbat isn't widely known, analysts Tuesday were not sure how he might change the direction of the company.

For clues, some are looking to someone more well-known: the man thought to be behind Pandit's departure, Citi Chairman Michael O'Neill. O'Neill became chairman in March, when Richard Parsons left after three years.

O'Neill was elected CEO of Barclays, the British bank, in 1999 but had to give up the job immediately because of heart problems. He joined Citi's board in March 2009. O'Neill had also been CEO of Bank of Hawaii Corp., where he was a big cost-cutter.

"When he ran Bank of Hawaii, he shut down up to 50 percent of its branches. It's a startling number," said Cassidy. He added that at Citi, "if the branch banking businesses doesn't make sense in parts of the United States, (he'll) get rid of it."

Tom Brown, founder of hedge fund Second Curve Capital, agreed.

"O'Neill downsized tremendously, and that's what I think you'll see here," he said.

For years, the goal in banking was to get bigger, spreading expenses over more and more customers and offering a smorgasbord of services. This was the vision of Sandy Weill, the former Citi CEO who built the bank through several deals.

But the appeal of the one-stop shop, though not dead, has lost its luster since the financial crisis. Many banks, Citi included, were so sprawling, they didn't even know the risks they had assumed.

As the housing market imploded, Citi lost $32 billion in 2008, according to FactSet, a financial data provider. Nearing collapse, the bank took $45 billion in government money.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Application process for Mass. casinos to begin

Another step on the long road to casino gambling in Massachusetts is being taken as a 90-day window opens for developers to submit preliminary applications to the state.

The Massachusetts Gaming Commission plans to make applications available on Wednesday to companies interested in bidding for the sole license to operate a slot parlor. Initial applications for companies hoping to build a destination resort casino will be made available on Friday.

Under a two-phase process adopted by the panel, applicants will first be screened to make sure they are qualified financially and ethically to bid for a license under the state's casino law.

Those who are prequalified will then move on to a second, competitive bidding phase.

The preliminary applications along with a $400,000 application fee are due by Jan. 15.

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Obama's battery dying

The fall of Obama-backed A123 Systems gave GOP challenger Mitt Romney new ammunition yesterday against the president's clean-energy investments, with the $250 million stimulus gamble becoming emblematic of an unsuccessful promise to create 5 million green jobs.

"A123's bankruptcy is yet another failure for the president's disastrous strategy of gambling away billions of taxpayer dollars on a strategy of government-led growth that simply does not work," said Romney spokeswoman Andrea Saul. "While the president has said he would 'double down' in a second term, Governor Romney will return the federal government's focus to its proper role supporting research and creating an environment where private sector innovation can thrive."

Sens. John Thune (R-S.D.) and Chuck Grassley (R-Iowa) pounced on the taxpayer-funded blunder yesterday. On the Web, video clips of Obama four years ago at a town hall-style debate similar to last night's showed him saying at the time, "If we create a new energy economy, we can create 5 million new jobs — easily — here in the U.S."

Bloomberg Businessweek estimates that $21 billion of federal stimulus spent by the U.S. Department of Energy has meant 28,854 people employed — or more than $727,000 per job. A123 had pledged to create 38,000 U.S. jobs but employs only 977 in the United States.

Waltham-based A123 Systems landed a $249.1 million federal grant to open plants in Michigan, which Obama called a "tremendous milestone" at the time in 2010. The company also received a $5 million loan from the Patrick administration to expand its Bay State operations and create local jobs, about $2.8 million of which is still outstanding. Including funds from the state of Michigan, the company received $390.1 million in taxpayer subsidies.

The maker of electric car batteries sought Chapter 11 bankruptcy protection yesterday and sold off its automotive business for $125 million to Johnson Controls Inc. In federal bankruptcy court filings, A123 lists $460 million in assets and $376 million in debt.

Based on technology developed at the Massachusetts Institute of Technology and founded in 2001, the battery maker was never able to turn a profit and was decimated by a recall of defective batteries that cost the company nearly $52 million.

Analyst Theodore O'Neill of Litchfield Hills Research, who has been predicting A123's demise for some time, said when the Obama administration committed to helping A123, it seemed like a good bet. But as the money began being distributed, it became clearer A123 was headed for trouble.

"Their oversight of this was worse than you'd think," he said.

What's more, top execs continued to rake in raises, the Herald reported yesterday. Robert J. Johnson, vice president of A123's energy solutions group, landed a 20.7 percent pay raise this year from $331,250 to $400,000. And they protected themselves from a potential takeover, with top execs inking eye-popping severance deals in the event the company were to change hands, including a $1.7 million golden parachute for CEO David P. Vieau.

The deals appear to conflict with A123's policy stating: "Compensation should reflect our performance as well as individual performance over the prior fiscal year and over a longer period. In the short term, compensation should reflect the extent to which goals are missed, met or exceeded."

"You'd think that money ought to get clawed back," O'Neill said.

A company spokesman did not return calls and emails yesterday.

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Nike signs uniform deal with IOC

LAUSANNE, Switzerland — The IOC is going with the swoosh.

The International Olympic Committee has signed a deal with U.S. sportswear giant Nike to supply uniforms and products to members and staff.

The agreement begins in January and runs until the end of 2016.

IOC members will wear Nike outfits at the 2014 Winter Games in Sochi, Russia, and 2016 Summer Olympics in Rio de Janeiro, as well as various other meetings and events.

IOC marketing director Timo Lumme says "we feel that this relationship will be a great fit for the IOC."

Nike replaces Japanese firm Mizuno, which had served as the IOC's uniform supplier since 1995. Mizuno bowed out because it is a sponsor of Tokyo's bid for the 2020 Olympics.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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