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Crowd-funding finds wayto real estate financing

Written By Unknown on Sabtu, 17 November 2012 | 18.38

Crowd-funding has transformed the startup landscape, but can the insular world of real estate benefit from this model as well?

It's being tried in different forms, mostly centered on commercial real estate.

The Boston startup Collaperty, for instance, hopes to connect proven investors with real estate deals. But whether this is the future of property dealing or a dead-end dot-com fantasy is anyone's guess.

The ability for crowdfunding — or democratizing, crowd-sourced investment — was expanded by the federal Jumpstart Our Business Startups Act passed in the spring.

Even before that, sites such as Kickstarter and IndieGogo were replacing rich uncles everywhere.

Now, the real estate industry is an increasing focus.

Some sites operate like Fundrise, which allows investors in Washington, D.C., and Virginia to invest nominal sums of money in real estate projects. For instance, 175 investors contributed a total of $325,000 to fund an urban revitalization project in D.C. in exchange for 30 percent of the profits.

These sites tap into hostility against Wall Street, the egalitarian sense that the Internet can open up opportunities previously reserved for tycoons. Also, the model tends to work well for high-risk, bordering on charitable projects.

Yet that is not the premise of locally grown Collaperty.

Rishi Palriwala, 28, wants his site to cater to proven investors. He's aiming to employ a system of vetting that will weed out the inexperienced.

An amateur real estate investor and corporate finance analyst by day, Palriwala envisions a site with many revenue streams: posting fees for sellers and sponsors who organize the deals, along with subscription fees for providing commercial real estate analytics and third-party escrow services.

"It's this whole idea of collaborating with qualified investors," he said. "Real estate's a pretty private investment vehicle. We're trying to add a little transparency to how that's done."

Commercial real estate is naturally collaborative, with most deals involving some type of joint venture and a variety of equity arrangements. Yet the commercial real estate establishment hasn't warmed to the idea of crowd-funding entering its sphere of influence.

David Begelfer, head of the commercial real estate association NAIOP, said the risks are too complex.

"There are so many elements involved in making this type of investment," he said. "There may be a place for it, but there also might be an element of risk and potential for loss that ultimately might lead to a crackdown on it."


18.38 | 0 komentar | Read More

What happens if Twinkies really do go away?

Let's not panic. We all know that Twinkies, Ding Dongs, Wonder bread and the rest of Hostess Brands' oddly everlasting foods aren't going away any time soon, even if the food culture that created them is gasping its last.

Yes, Hostess is shutting down. And odds seem to favor the roughly century-old company disappearing from our corporate landscape. But before you rush out to stockpile a strategic Twinkie reserve, consider a few things. Namely, that Twinkies never die. You know full well that the snack cakes down at your corner 7-Eleven are going to outlive us all. Probably even after they've been consumed.

And then there's the acquisition-happy nature of the business world, an environment that increasingly prizes intellectual property above all. It's hard to imagine the fading away of brands as storied and valuable as Ho Hos, Ring Dings and Yodels. Within hours of announcing the closure Friday, the company already had put out word that Zingers, Fruit Pies and all the other brands were up for grabs.

Even if production really did stop, how long do you think it would take for some enterprising investor intoxicated by a cocktail of nostalgia and irony for the treats Mom used to pack in his G.I. Joe lunch box to find a way to roll out commemorative Twinkies? Special edition holiday Ho Hos? It's just the nature of our product-centered world. Brands don't die, even when perhaps they should.

But let's pretend for a moment they did. What would we lose if Twinkies fell off the culinary cliff?

Certainly few obesity-minded nutritionists would bemoan the loss. With some 500 million Twinkies produced a year, each packing 150 calories... Well, let's just leave it by saying that shaving 75 billion calories from the American diet sure could add up to a whole lot of skinny jeans.

Except that Twinkies aren't merely a snack cake, nor just junk food. They are iconic in ways that transcend how Americans typically fetishize food. But ultimately, they fell victim to the very fervor that created them.

Despite the many urban legends about the indestructability of Twinkies — Did you know they are made with the same chemical used in embalming? Or that they last 5, no 15, no 50 years? — and the many sadly true stories about the atrocious ingredients used to create them today, these treats once upon a time were the real deal.

They started out back in 1930, an era when people actually paid attention to seasonality in foods. James A. Dewar, who worked at Hostess predecessor Continental Baking Company in Schiller, Ill., wanted to find a way to use the bakery's shortbread pans year round. You see, the shortbread was filled with strawberries, but strawberries were only available for a few weeks a year.

So he used the oblong pans to bake spongecakes, which he then filled with banana cream. Bananas were a more regular crop.

Let's pause so you can wrap your mind around that for a moment. Twinkies once contained real fruit. Twinkies were created because of seasonality.

All went swimmingly until World War II hit and rationing meant — say it with me — Yes! We have no bananas. And so was born the vanilla cream Twinkie, which was vastly more popular anyway. Even then, there was a crafted element to these treats. The filling was added by hand using a foot pedal-powered pump. Pump too hard and the Twinkies exploded. These days you only see that when teenagers post YouTube videos of themselves microwaving them.

It was around this time that American food culture did an about face. It was an era when the industrialization and processing of cheap food wasn't just desired, it was glorified. Cans and chemicals could set you free. And they certainly set Twinkies free of the nuisance of a short shelf life. It's not formaldehyde that keeps these snack cakes feeling fresh, it's the lack of any dairy products in the so-called "cream."

"Something about it just absolutely grabbed the popular culture imagination," says Marion Nestle, a New York University professor of nutrition and food studies — and no fan of junk food. "It's the prototypical indestructible junk food. It was the sort of height to which American technological ingenuity could go to create a product that was almost entirely artificial, but gave the appearance of eclairs."

When Twinkies signed on as a sponsor of the "Howdy Doody" show during the 1950s, their cultural legacy was sealed. Taglines such as "The snacks with a snack in the middle" began etching themselves into generations of young minds and it was considered perfectly fine that Twinkie the Kid would lasso and drag children before stuffing his sugar bombs in their faces.

It was the snack cake heyday. Twinkies were being deep-fried at state fairs, doing cameos in movies like "Ghost Busters" and "Die Hard" and being pushed by Spider-Man in comic books. A pre-vegan President Bill Clinton even signed off on including Twinkies in the nation's millennium time capsule (the two-pack was later removed and consumed by his council overseeing such matters for fear mice would add themselves to the time capsule).

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


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Fidelity shifts to Seaport

Fidelity Investments is moving its corporate headquarters to Summer Street on the edge of the Innovation District — a change that analysts say signals a major shift in the Financial District toward the Southie waterfront and reaffirms the financial giant's commitment to Boston.

"The hub of the financial services industry is clearly moving toward the water. Parking is easier, commuting is easier — both for Fidelity's employees and its clients — and they're right across the street from some of the biggest financial players in town," said Jim Lowell, editor-in-chief of the independent newsletter fidelityinvestor.com, referring to the Federal Reserve Bank of Boston and BlackRock. "I think we'll likely see the complete redefinition of the Financial District away from State Street."

Fidelity, led by founder and chairman Edward "Ned" Johnson, first acquired the 245 Summer St. property in 1999. After initially sharing space in the building with other businesses, the company began to increase its presence in the 14-story, 900,000-square-foot property, and about 2,900 of its employees are based there today. The 600 at its current headquarters and its other buildings on Devonshire and Congress streets will remain there until the company decides the future of that block, said Vincent Loporchio, a Fidelity spokesman.

"The new headquarters is in a prime real estate area that offers lots of options," Loporchio told the Herald. "We've long felt it was a terrific part of the city."

Fidelity was a pioneer in the Innovation District when there was little else there, he said, noting that its developments included the World Trade Center and the Seaport Hotel.

Since then, the area has attracted everything from the Institute for Contemporary Art to the high-end clothing store Louis Boston to the startup accelerator and competition MassChallenge — a string of coups that the head of The Boston Harbor Association credited largely to Mayor Thomas M. Menino,, who branded the area the Innovation District.

"He created the image that this is the place to be," said Vivien Li. "It's about innovation, creativity, edginess. To be in this area is to be in a very exciting part of the city."

Ultimately, Fidelity's move is also good news for Boston and the state, said John Bonnanzio, editor of Fidelity Monitor & Insight, an independent investment advisory newsletter.

"Psychologically, it's a shot in the arm and takes off the table any concern that the company would move elsewhere," Bonnanzio said.

In March 2011, Fidelity announced it would close its Marlboro campus and send most of those 1,100 jobs to its offices in Merrimack, N.H., and Smithfield, R.I. Last month, the company said it would build a $200 million data center in Nebraska.


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Nokia Lumia 920 brightest light for Windows phones

The masterfully botched launch of Windows 8 phones brought zero lines of eager consumers to wireless retailers across the nation.

But here we have Microsoft's last chance to show its smartphone gambit is for real. The Windows 8 platform has been refined and supercharged, with its capabilities fully showcased in the Nokia Lumia 920.

It is, to put it plainly, a beast. The first thing you'll notice is its heft. Nokia's big bet is that the technology packed into this 6.5-ounce, 5.13-inch frame will be worth the tradeoff in bulk. Near-field communication, wireless charging and all-day battery life are some of those features.

The buzz is that the Lumia 920 sports the best camera of any of the Windows phones, but I would go further to say it's among the best smartphone cameras on the market, with remarkable low-light capabilities and image stabilization.

Nokia's camera comes with an excellent suite of exclusive apps. Cinemagraph allows you to animate part of your picture, similar to a built-in Gif maker. Smart Shoot allows you to take a picture of something blocked by moving objects. For instance, if you're at the Louvre and hordes of tourists are walking by the Mona Lisa when you want to take a picture, Smart Shoot will take a series of photos and splice them together, erasing the people blocking your view.

A winning feature of Windows phones has been its people hub for integrating social information — tweets, status updates, photos — from your contacts into one stream. The new OS takes this a step further, allowing you to group your contacts into "rooms." It's similar to Google Plus circles, but with deep integration into Microsoft Apps and office features, so you can push out documents and hold chats.

With high-quality tablets and ultrabooks galore, the Windows ecosystem is improving. And at just $99 on-contract with AT&T, the Lumia 920 will not disappoint if you're OK with its size.


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Business - BostonHerald.com

Written By Unknown on Jumat, 16 November 2012 | 18.38

Business - BostonHerald.comBusiness - 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. Fri, 16 Nov 2012 06:31:32 -0500 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=1061175170&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175170&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175170&srvc=rss WILMINGTON, Del. - A Delaware bankruptcy judge has approved the sale of failed solar power company Solyndra's former... business Thu, 15 Nov 2012 23:21:44 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175093&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175093&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175093&srvc=rss These three homes on the market in Boston offer amenities that will have you celebrating the holidays in style.... business Thu, 15 Nov 2012 22:36:20 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175141&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175141&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175141&srvc=rss Mass. jobless rate up as 7,900 jobs added Massachusetts added 7,900 jobs in October, but a separate survey showed... business Thu, 15 Nov 2012 22:13:02 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175138&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175138&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175138&srvc=rss State Attorney General Martha Coakley would like to see the state tackle energy in the same way it's approaching... business Thu, 15 Nov 2012 22:11:41 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175135&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175135&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175135&srvc=rss State officials and business leaders yesterday blasted out-of-control health-care spending that gobbles up more... business Thu, 15 Nov 2012 22:09:47 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175132&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175132&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175132&srvc=rss Efforts are under way to put the bankrupt Upper Crust pizza chain back in business after the court-appointed trustee... business Thu, 15 Nov 2012 22:07:46 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175128&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175128&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175128&srvc=rss With a $50,000 grant from the Boston committee of the Garden Club of America, the Boston Harbor Association plans... business Thu, 15 Nov 2012 22:07:04 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175111&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175111&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175111&srvc=rss Amid a worldwide push to make energy-eating data centers more efficient, a new environmentally friendly computing... business Thu, 15 Nov 2012 22:05:38 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175153&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175153&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175153&srvc=rss SAN FRANCISCO - FedEx and UPS are disclosing that they are targets of a federal criminal investigation related... business Thu, 15 Nov 2012 21:45:48 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175084&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175084&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175084&srvc=rss NEW YORK - This holiday season, the biggest discount chains in the U.S. will tell the tale of two very different... business Thu, 15 Nov 2012 19:28:38 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174990&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174990&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174990&srvc=rss Despite adding 7,900 jobs last month, Massachusetts' dependence on Europe as an export market and dwindling business... business Thu, 15 Nov 2012 18:30:22 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175006&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175006&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175006&srvc=rss Lt. Gov. Tim Murray this morning said he would "like to be governor," but he would not say whether Gov. Deval Patrick... business Thu, 15 Nov 2012 17:26:29 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174839&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174839&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174839&srvc=rss When it comes to marketing, Harvard Book Store keeps in mind that its audience is really smart. "We're just... business Thu, 15 Nov 2012 17:13:59 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174998&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174998&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174998&srvc=rss WASHINGTON - The struggling U.S. Postal Service on Thursday reported an annual loss of a record $15.9 billion and... business Thu, 15 Nov 2012 16:51:26 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175035&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175035&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175035&srvc=rss WASHINGTON - Federal Reserve Chairman Ben Bernanke said Thursday that banks' overly tight lending standards may... business Thu, 15 Nov 2012 16:49:49 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175063&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175063&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175063&srvc=rss NEW YORK - A computer outage at United Airlines delayed thousands of travelers on Thursday and embarrassed the... business Thu, 15 Nov 2012 16:20:34 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061175061&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061175061&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061175061&srvc=rss NEW YORK - The Spanish-language media company Univision is working with one of its top advertisers to encourage... business Thu, 15 Nov 2012 16:10:53 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174984&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174984&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174984&srvc=rss NEW ORLEANS - A day of reckoning arrived for BP on Thursday as the oil giant agreed to plead guilty to a raft... business Thu, 15 Nov 2012 16:01:32 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175059&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175059&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175059&srvc=rss NEW YORK - Wal-Mart Stores Inc. reported a 9 percent increase in net income for the third quarter, but revenue... business Thu, 15 Nov 2012 15:48:26 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175051&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175051&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175051&srvc=rss Massachusetts Mutual Life Insurance Company was charged with securities law violations today by the Securities... business Thu, 15 Nov 2012 15:06:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175050&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175050&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175050&srvc=rss The gap between Massachusetts' richest and poorest households is the eighth highest in the nation, according to... business Thu, 15 Nov 2012 15:00:02 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175043&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175043&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175043&srvc=rss NEW YORK - Hostess Brands Inc. is warning striking employees that it will move to liquidate the company if they... business Thu, 15 Nov 2012 14:29:14 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175033&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175033&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175033&srvc=rss NEW YORK - Verizon and AT&T say their wireless networks are fully back up after Superstorm Sandy blew into the... business Thu, 15 Nov 2012 13:17:41 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175030&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175030&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175030&srvc=rss WASHINGTON - The Food and Drug Administration is investigating reports of 13 deaths possibly linked to so-called... business Thu, 15 Nov 2012 13:02:49 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175026&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175026&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175026&srvc=rss WASHINGTON - The top lobbyist representing compounding pharmacies says Congress does not need to draft new laws... business Thu, 15 Nov 2012 12:51:19 -0500

Business - BostonHerald.comBusiness - 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. Fri, 16 Nov 2012 06:31:32 -0500 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=1061175170&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175170&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175170&srvc=rss WILMINGTON, Del. - A Delaware bankruptcy judge has approved the sale of failed solar power company Solyndra's former... business Thu, 15 Nov 2012 23:21:44 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175093&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175093&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175093&srvc=rss These three homes on the market in Boston offer amenities that will have you celebrating the holidays in style.... business Thu, 15 Nov 2012 22:36:20 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175141&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175141&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175141&srvc=rss Mass. jobless rate up as 7,900 jobs added Massachusetts added 7,900 jobs in October, but a separate survey showed... business Thu, 15 Nov 2012 22:13:02 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175138&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175138&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175138&srvc=rss State Attorney General Martha Coakley would like to see the state tackle energy in the same way it's approaching... business Thu, 15 Nov 2012 22:11:41 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175135&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175135&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175135&srvc=rss State officials and business leaders yesterday blasted out-of-control health-care spending that gobbles up more... business Thu, 15 Nov 2012 22:09:47 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175132&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175132&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175132&srvc=rss Efforts are under way to put the bankrupt Upper Crust pizza chain back in business after the court-appointed trustee... business Thu, 15 Nov 2012 22:07:46 -0500 http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175128&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175128&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/real_estate/view.bg?articleid=1061175128&srvc=rss With a $50,000 grant from the Boston committee of the Garden Club of America, the Boston Harbor Association plans... business Thu, 15 Nov 2012 22:07:04 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175111&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175111&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175111&srvc=rss Amid a worldwide push to make energy-eating data centers more efficient, a new environmentally friendly computing... business Thu, 15 Nov 2012 22:05:38 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175153&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175153&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175153&srvc=rss SAN FRANCISCO - FedEx and UPS are disclosing that they are targets of a federal criminal investigation related... business Thu, 15 Nov 2012 21:45:48 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175084&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175084&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175084&srvc=rss NEW YORK - This holiday season, the biggest discount chains in the U.S. will tell the tale of two very different... business Thu, 15 Nov 2012 19:28:38 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174990&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174990&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174990&srvc=rss Despite adding 7,900 jobs last month, Massachusetts' dependence on Europe as an export market and dwindling business... business Thu, 15 Nov 2012 18:30:22 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175006&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175006&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175006&srvc=rss Lt. Gov. Tim Murray this morning said he would "like to be governor," but he would not say whether Gov. Deval Patrick... business Thu, 15 Nov 2012 17:26:29 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174839&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174839&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174839&srvc=rss When it comes to marketing, Harvard Book Store keeps in mind that its audience is really smart. "We're just... business Thu, 15 Nov 2012 17:13:59 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174998&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174998&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174998&srvc=rss WASHINGTON - The struggling U.S. Postal Service on Thursday reported an annual loss of a record $15.9 billion and... business Thu, 15 Nov 2012 16:51:26 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175035&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175035&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175035&srvc=rss WASHINGTON - Federal Reserve Chairman Ben Bernanke said Thursday that banks' overly tight lending standards may... business Thu, 15 Nov 2012 16:49:49 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175063&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175063&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175063&srvc=rss NEW YORK - A computer outage at United Airlines delayed thousands of travelers on Thursday and embarrassed the... business Thu, 15 Nov 2012 16:20:34 -0500 http://www.bostonherald.com/business/media/view.bg?articleid=1061175061&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061175061&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/media/view.bg?articleid=1061175061&srvc=rss NEW YORK - The Spanish-language media company Univision is working with one of its top advertisers to encourage... business Thu, 15 Nov 2012 16:10:53 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061174984&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174984&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061174984&srvc=rss NEW ORLEANS - A day of reckoning arrived for BP on Thursday as the oil giant agreed to plead guilty to a raft... business Thu, 15 Nov 2012 16:01:32 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175059&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175059&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175059&srvc=rss NEW YORK - Wal-Mart Stores Inc. reported a 9 percent increase in net income for the third quarter, but revenue... business Thu, 15 Nov 2012 15:48:26 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175051&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175051&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175051&srvc=rss Massachusetts Mutual Life Insurance Company was charged with securities law violations today by the Securities... business Thu, 15 Nov 2012 15:06:08 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175050&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175050&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175050&srvc=rss The gap between Massachusetts' richest and poorest households is the eighth highest in the nation, according to... business Thu, 15 Nov 2012 15:00:02 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175043&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175043&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175043&srvc=rss NEW YORK - Hostess Brands Inc. is warning striking employees that it will move to liquidate the company if they... business Thu, 15 Nov 2012 14:29:14 -0500 http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175033&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175033&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/technology/general/view.bg?articleid=1061175033&srvc=rss NEW YORK - Verizon and AT&T say their wireless networks are fully back up after Superstorm Sandy blew into the... business Thu, 15 Nov 2012 13:17:41 -0500 http://www.bostonherald.com/business/general/view.bg?articleid=1061175030&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175030&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/general/view.bg?articleid=1061175030&srvc=rss WASHINGTON - The Food and Drug Administration is investigating reports of 13 deaths possibly linked to so-called... business Thu, 15 Nov 2012 13:02:49 -0500 http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175026&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175026&format=comments#CommentsArea&srvc=rss http://www.bostonherald.com/business/healthcare/view.bg?articleid=1061175026&srvc=rss WASHINGTON - The top lobbyist representing compounding pharmacies says Congress does not need to draft new laws... business Thu, 15 Nov 2012 12:51:19 -0500


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Forecasters predict buying bonanza

Written By Unknown on Kamis, 15 November 2012 | 18.38

Massachusetts retailers hope for a third straight year of holiday sales increases amid growing consumer confidence despite the looming "fiscal cliff."

The Retailers Association of Massachusetts is forecasting a 3.5 percent rise in November and December sales to an estimated $14 billion based on a survey of its 3,500 members. Sales climbed 5 percent last year and 7 percent in 2010 after three years of single-digit declines.

"It's a solid increase that reflects the fact that the consumer is becoming more confident, but they're still being cautious," said Jon Hurst, the trade group's president. "They're not going to go out and go into debt. They learned a tough lesson in 2008."

Five full weekends between Thanksgiving and Christmas and the maximum number of days between the two holidays mean more opportunities for store trips and unplanned impulse buys to fuel holiday sales, according to Hurst.

"The weekends after Thanksgiving and leading into Christmas are long weekends," Hurst said. "Those are, by far, the most important. I think they'll be gangbuster."

The National Retail Federation, meanwhile, expects holiday sales nationwide to climb 4.1 percent to $586.1 billion.

The NRF yesterday called on President Obama and Congress to devise a plan to avoid the end-of-the-year "fiscal cliff" of tax increases and federal spending cuts by Thanksgiving, saying the uncertainty threatens consumer confidence during the holiday shopping season.

But Hurst sees the "fiscal cliff" as less of a threat, likening it to gasoline prices.

"A lot of consumers have grown accustomed to both political games and gas prices," he said. "Most consumers understand that a solution will come sooner or later. The key for consumers is to see cooperation, to see some progress."

Actual holiday sales grew 5 percent last year in Massachusetts — more than double the projected increase — and 7 percent in 2010 after a 4.3 percent rise was projected. Hurst acknowledged that RAM members may be a little conservative.

"They're small businesses," he said. "They are naturally cautiously optimistic. They, like the consumer, learned some things. In 2008 and 2009, you wanted to come down on the side of being a little cautious as far as how much you invested in your inventory, and you didn't want to over-extend yourself."


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Egad! Nexus 10 nearly outperforms iPad

The Nexus 10 could be an iPad killer. It comes so darn close I can almost taste it.

But it's not quite there yet.

In some ways, Google's new 10-inch tablet is better than the iPad. The grippy, rubbery body is more accessible than the hard-as-a-rock iPad. I don't feel as if it will shatter like fine crystal if my kid drops it on the floor. By contrast, I'd like to cover the iPad 4 that I use in layers of protective bubble wrap. It's a relief not to feel the same compulsion with the Nexus 10.

Another huge plus: The speakers are conveniently positioned on the front edges, so they face you when you watch a movie or video. The audio thus puts the iPad to shame.

What's more, the Nexus 10 is just as "resolutionary" as the iPad. Technically it's got higher resolution than Apple's so-called Retina Display, but it's imperceptible. The picture quality is a draw. That's the biggest compliment a tablet screen could get at this point.

Android continues to perfect its operating system, and the results are increasingly clean and intuitive. Combined with apps that are as good, if not better than what iOS offers, you've got yourself an excellent user experience in the Nexus 10.

However, there's a downside. The Nexus 10 I tested was not as zippy as I've come to expect from the iPad. I used it on the same wireless networks that I connect the iPad to every day, and there's no doubt the Nexus was slower. Searching for apps and movies on Google Play often prompted the screen to say it was "loading." Indefinitely. Google Chrome and Firefox crashed more times than I could count. There were times when I wished for a ctrl+alt+delete option. My guess is Android will push out some bug fixes for this soon. But for now, if you're easily frustrated by glitches, try the Nexus 7 or the iPad.

Still, with its incredibly reasonable price starting at $399, $100 less than the iPad, the Nexus 10 is a solid addition to the world of top-shelf tablets. Anyone who wants a rugged tablet with a great media viewing experience will be pleased. Equip this baby with 4G LTE and I'm sold.


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SEC, Big 12 get 12-year deal from ESPN for Sugar

NEW YORK — The Big 12 and Southeastern Conference have agreed to a 12-year deal with ESPN for the rights to the Sugar Bowl in New Orleans.

A person familiar with the contract said it was worth about $80 million per year through 2026. The person spoke on condition of anonymity because terms of the agreement were not being made public and details were still pending.

The Big 12 and SEC recently picked the Sugar Bowl as the site of their new marquee game, starting in the 2014 season.

The champions of each conference will play in the game, unless those teams are selected for the four-team playoff that also starts that season. In that case, other highly ranked teams from the Big 12 and SEC will play in the game.

The Sugar Bowl will be one of six sites in the playoff rotation, along with the Rose Bowl, Orange Bowl and three more still to be announced. How often each bowl hosts a semifinal is still to be determined. ESPN's deal with the Sugar Bowl calls for it to broadcast the game even in years it hosts playoffs.

ESPN earlier this year reached a similar 12-year deal, for about the same price, with the Pac-12 and Big Ten for the rights to the Rose Bowl.

The person said a 12-year agreement between ESPN and the Orange Bowl will likely be announced soon.

ESPN.com has previously reported that the network will pay about $55 million per year for the rights to the Orange Bowl, which will match the Atlantic Coast Conference champion, or another highly ranked team from the league, against either a SEC team, a Big Ten team or Notre Dame. The ACC struck a deal with the Orange Bowl during the summer.

ESPN also is working on a 12-year deal for the entire playoff package of 24 semifinals and 12 national championship games, along with the other three host bowls, that has been reported to be worth around $500 million per year.

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


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SKorean presidential hopeful vows freer Internet

SEOUL, South Korea — A South Korean presidential candidate is promising to get rid of encryption technology that ties South Korean Internet users to a single web browser — Microsoft's Internet Explorer — for online transactions.

Ahn Cheol-soo, a popular independent presidential candidate, said companies will be free to choose what online security technology they use if he wins the December election.

Voters welcomed the pledge to end the mandatory use of government-designated online certificates for Internet banking and shopping.

The existing system based on 'Active X' technology has been criticized for limiting choice of web browsers and computer operating systems and slowing down computers.

Ahn said that South Korea's unique certificate system has isolated its technology industry from the rest of the world and made web browsing less convenient.

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


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Zynga CFO David Wehner deflects to Facebook

Written By Unknown on Rabu, 14 November 2012 | 18.38

NEW YORK — Zynga's finance chief is leaving the troubled online game company to join Facebook.

San Francisco-based Zynga Inc. said Tuesday that David Wehner will take a "senior finance position" at the social networking company. His exact title will be vice president of corporate finance and business planning, Facebook said.

Chief accounting officer, Mark Vranesh, is replacing Wehner as chief financial officer, returning to the post he held from 2008 to 2010, while Zynga was still a private company.

Zynga also reshuffled its executive ranks, a move CEO Mark Pincus said puts the company in a position for "long-term growth." Zynga, whose games include "FarmVille" and "Texas HoldEm Poker," has seen its stock price fall sharply in recent months amid concerns about its ability to make money from mobile games, off of Facebook.

David Ko, who was previously chief mobile officer, is now chief operations officer. Barry Cottle, who came to Zynga from Electronic Arts Inc., is now chief revenue officer. He was previously executive vice president of business and corporate development.

The appointments seek to fill some of the holes left by executives who've left Zynga in recent months. John Schappert, Zynga's chief operating officer, left in August after less than a year and a half on the job. Schappert's exit was followed by that of Mike Verdu, the company's chief creative officer. And in September Jeff Karp, the chief marketing and chief revenue officer, left the company.

Zynga is also reaffirming its guidance. The company still expects adjusted earnings of 2 or 3 cents per share. Analysts polled by FactSet expect 3 cents.

Zynga shares closed up 1 cent at $2.11 and added 2 cents in after-hours trading.

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


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Asia stocks up after successful Greek bond auction

BANGKOK — Asian stock markets edged higher Wednesday as the threat of an imminent meltdown in debt-swamped Greece receded.

Greece held a sale of short-term treasury bills Tuesday that will help it make a crucial debt repayment at the end of the week. Without the sale, Athens would have found it impossible to repay the €5 billion ($6.4 billion) treasury bill maturing on Friday, the day on which Prime Minister Antonis Samaras has said Greece would run out of money.

Analysts at Credit Agricole CIB in Hong Kong called the auction of 4.06 billion euros ($5.15 billion) in bills a success and said that it "added to the positive tone" helping to boost stocks.

Japan's Nikkei 225 index rose marginally to 8,662.30. Hong Kong's Hang Seng added 0.9 percent to 21,373.88 and Australia's S&P/ASX 200 gained 0.3 percent to 4,393.30. South Korea's Kospi fell 0.1 percent to 1,887.69.

Benchmarks in Taiwan, Indonesia and the Philippines also rose. Singapore and Malaysia fell.

Greece has been locked out of the international long-term debt market by exceptionally high interest rates demanded for its bonds since 2010, and has been relying on funds from rescue loans by other euro countries and the International Monetary Fund.

Traders also have to deal with the uncertainty posed in the U.S. by the looming "fiscal cliff," a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then.

Unless Congress acts, all Bush-era tax cuts would expire, raising 2013 tax bills for most Americans. Obama wants to end those tax cuts only for households making more than $250,000 a year while Republicans oppose all tax rate increases.

Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week.

U.S. lawmakers gathered for talks on Tuesday, giving traders hope that at least a temporary compromise might somehow be reached before the "fiscal cliff" deadline in seven weeks.

"People feel there's been a significant pullback over fiscal cliff worries," said Andrew Sullivan, an independent market analyst in Hong Kong. "The reality is we are likely to see a solution."

Among individual stocks, Japan's Sharp Corp. soared 7.9 percent after Japanese media reports said Intel Corp., the world's largest chipmaker, was in talks with the struggling electronics maker about a business alliance.

South Korean tech shares led gains in Seoul. Chipmaker SK Hynix gained 4.3 percent. LG Electronics added 5.6 percent on an improved sales outlook for the fourth quarter, Yonhap News Agency said.

On Tuesday, the Dow closed down closed down 0.5 percent at 12,756.18. The Standard & Poor's 500 index fell 0.4 percent to 1,374.53. The Nasdaq composite index lost 0.7 percent to 2,883.89.

Benchmark oil for December delivery was down 2 cents to $85.36 in electronic trading on the New York Mercantile Exchange. The contract fell 19 cents to finish at $85.38 per barrel on the Nymex on Tuesday.

The euro rose to $1.2723 from $1.2705 late Tuesday in New York. The dollar rose to 79.49 yen from 79.41 yen.

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


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Obama pressing business and labor on fiscal cliff

WASHINGTON — President Barack Obama is lobbying business and labor groups to support his plan to avoid an impending fiscal cliff, telling the two sides he remains committed to requiring the wealthy to pay more in taxes.

Obama was meeting Wednesday with about a dozen business executives as the White House and Congress face a series of expiring tax cuts and across-the-board spending cuts scheduled to take effect because lawmakers failed to reach a deal to reduce the federal debt. Business groups want an agreement before the end of the year, warning that the uncertainty could roil the financial markets and harm the economic recovery.

The White House meeting follows a gathering of labor leaders and liberal groups Tuesday in which participants said Obama remained clear that he would push for his campaign pledge of making the wealthiest Americans pay more in taxes.

"We're prepared to stand up to make sure there is shared sacrifice here, so the rich actually start paying their fair share and the middle class don't get soaked for that," said AFL-CIO President Richard Trumka.

Obama was expected to speak in greater detail on the year-ending lame-duck session of Congress at a White House news conference Wednesday. Failure to act would lead to spending cuts and higher taxes on all Americans, with middle-income families paying an average of about $2,000 more next year, according to the nonpartisan Tax Policy Center.

The president pledged to raise taxes on the rich during his first term but backed off his stance in late 2010 after Republicans seized control of the House in the midterm election. During his meeting with labor leaders, Obama said he was not going to bend on letting tax cuts expire for top wage earners, according to a participant in the meeting who spoke on the condition of anonymity to discuss the private session. The president said the tax issue was clear during the election and said he had extended those enacted during the George W. Bush administration once and would not do so again, the participant said.

The CEOs have urged Congress to extend the Bush-era tax cuts until a tax overhaul can be reached and prevent the spending cuts from taking place. The executives say the uncertainty over the fiscal cliff is hurting the nation's business climate and preventing hiring.

Obama will meet with several CEOs, including the heads of Aetna, Honeywell, Wal-Mart, Procter & Gamble and Ford.

The participants include members of the Campaign to Fix the Debt, a group founded by Alan Simpson and Erskine Bowles that has pushed for a long-term plan to fix the nation's debt and deficits.

Simpson, a former Wyoming senator, and Bowles, a former White House chief of staff, served as co-chairs of Obama's bipartisan National Commission on Fiscal Responsibility and Reform, which proposed $3 in spending cuts for every $1 in additional revenues.

Among the CEOs attending the meeting are General Electric CEO Jeff Immelt, who chairs Obama's jobs council, and American Express CEO Kenneth Chenault and Xerox CEO Ursula Burns, who are members of the council.

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


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Survey: Families at odds over financial planning

BOSTON — Thanksgiving could be an opportune time to talk turkey about family finances, rather than merely eat the bird and prepare for the next big holiday. A detailed discussion could prove to be worthwhile, given the strong likelihood that older parents and their adult children have conflicting expectations about issues such as elder care, retirement security and inheritance.

Survey results released Wednesday by Fidelity Investments found family members frequently disagree when asked privately about these hard-to-discuss topics.

Key findings from the Boston-based financial services company include:

— Twenty-four percent of the adult children surveyed expected they will have to help their parents financially at some point, yet 97 percent of the parents don't expect to need help.

— Nearly all of the older parents and their grown children — 97 percent — disagreed on whether a child will take care of the parents if they become ill. One reason for the nearly universal disagreement is the small number of families who discuss their expectations in a comprehensive way. Just 10 percent of the adult children believed the conversations they had were very detailed, and 63 percent of the children and parents disagreed on the level of detail they had covered to date.

— Adult children typically underestimate the value of their parents' estate by more than $100,000 on average, in part because few families have a detailed discussion about how much might be passed down through inheritance. Older parents were more likely to believe a conversation had been detailed.

— Expectations differ as to how financially well-off older parents will be in retirement. Thirty-eight percent of children thought their parents will have a very comfortable lifestyle, while just 20 percent of the parents said that about their retirements.

Kathleen Murphy, Fidelity's president of personal investing, said the need for families to discuss these issues is likely to grow as more baby boomers reach retirement age, and as life expectancies continue to increase.

"Getting more comfortable with these conversations is going to be really important," Murphy said. "The burden only gets bigger."

The so-called "fiscal cliff" that's dominating the post-election national political dialogue could serve as a jumping-off point for many families to shift holiday conversations to their own finances, Murphy says. The fiscal cliff denotes the potential tax increases and government spending cuts that begin to take effect Jan. 1 unless Congress and President Barack Obama can work out a deficit-reduction compromise.

"It's a more comfortable way to start these conversations — a conversation about the national economy can lead into a conversation about your personal economy," she says.

Avoiding the conversation means decisions are put off until there's a family crisis, often resulting in sharp disagreements.

Lack of communication was a key theme in the survey findings. Sixty-eight percent of older parents said they were more comfortable talking about these matters to a third-party financial professional than they were with family members. That was the case for 60 percent of the adult children.

The lack of discussion contributed to differing views about how often older parents worry about their long-term financial security. Forty-six percent of adult children think their parents worry at least once a month, while just 32 percent of parents reported they worry that often.

Adult children may be more concerned about these issues than their parents because many are part of what's known as the "Sandwich Generation," middle-aged people trying to care for their elderly parents while also supporting their own children.

Such parents "may be grappling with planning for their own retirement, helping to fund a child's college education and dealing with eldercare and retirement challenges with their parents as well," Murphy says.

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


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Union Oyster House named top eatery

Written By Unknown on Selasa, 13 November 2012 | 18.38

History is on the side of Union Oyster House.

Established in 1826, the Retailers Association of Massachusetts' "Restaurant of the Year" is the nation's oldest restaurant, and the only one that's a national historic landmark.

"We have a really unique designation in that respect," co-owner Joseph Milano said. "That kind of takes your restaurant and puts it in a level where we tend to be a legend."

Statesman Daniel Webster frequented its semi-circular oyster bar, the toothpick is said to be first used in the United States there, and President John F. Kennedy's affinity for an upstairs perch led to a dedicated "Kennedy booth."

The famed seafood restaurant has withstood the test of time by cultivating its brand through hospitality, product consistency, service and value, according to Milano.

"We're in the business to care for our customers," he said. "That's what we've been doing for 186 years, so we're proud to be good caretakers of our precious 'Oyster.' "


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Concord shop parades like big cheese

If a parade to celebrate the arrival of the "Big Cheese" — a 400-pound wheel of Crucolo cheese from Italy — sounds fun, that's the point.

Dec. 6 is the date for the Concord Cheese Shop's third annual Crucolo parade, which in past years has included dancers, music, Italian flags and balloons to celebrate the cheese's on-street arrival and red carpet procession.

"Let's have some fun, whether it be a cheese parade ... or our 45th anniversary 'Flashback,' where we brought back products that were sold in 1967 at 1967 prices," said owner Peter Lovis, who started in the cheese business at age 15 in 1976. "You have to work for a living, why not have fun doing it? If we come up with a idea that's fun, we run with it."

That kind of thinking earned the Concord cheese purveyor this year's creative concepts in retailing award.

Last month's "Flashback" event marking the store's 1967 opening featured gourmandise cheese with kirsch or walnut for $3.99 per pound and Colby longhorn for $2.49 per pound.

"It's a small crack in the time-space continuum," Louis said. "People lined up, and we brought back the old crank cash register," Lovis said. "It was cash only — no credit cards in 1967."


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UPS stops donations to Boy Scouts over anti-gay rule

ATLANTA — United Parcel Service will no longer give money to the Boy Scouts of America, joining other companies that have stopped funding or have spoken out against the organization's prohibition of gay members or leaders.

UPS confirmed Monday it has changed its policy on charitable gifts to require that recipients have a non-discrimination policy that matches its own.

While UPS stopped short of saying the policy change was aimed at the Boy Scouts, the youth organization is the only one UPS had given to in the past that would be affected, company spokeswoman Kristen Petrella said.

Boy Scouts of America spokesman Deron Smith said in a written statement that UPS's decision will hurt communities.

"We are disappointed to learn about this decision but respect everyone's right to have and express a different opinion," he said. "Unfortunately, this decision will have a direct impact on the youth we serve in local communities."

Boy Scouts of America did not have any pending funding requests before UPS, Petrella said.

Chip-maker Intel, identified by a gay and lesbian news magazine as the Boy Scouts' largest corporate benefactor, stopped funding the organization this year.

The chief executives of AT&T and Ernst & Young, both of whom are on Boy Scouts of America's executive board, said they support ending the ban of gay members, and will try to work to change the policy.

Change.org said UPS gave $150,000 to the Boy Scouts in 2010, but Petrella said that was more than the company donated most years.

UPS's charitable foundation oversaw nearly $100 million in donations and in-kind services to charities last year, according to its annual report to the Securities and Exchange Commission, filed in February.

Boy Scouts of America reported revenue of $201.5 million in 2011, including $61 million listed under contributions and bequests, according to the nonprofit's 2011 treasurer's report, which is posted on its website.

Atlanta-based Home Depot said it gave $18,000 to various local Boy Scout projects around the country this year and $14,000 last year. Home Depot did not make any donations to the national organization. Spokesman Stephen Holmes said he said he did not know if Home Depot will change change its donation policies.

UPS received a 100 percent rating in the Human Rights Campaign's 2012 Corporate Equality Index, a survey of firms' inclusion and treatment of lesbian, bisexual, gay and transgendered employees.

———

(J. Scott Trubey contributed to this report).

©2012 The Atlanta Journal-Constitution (Atlanta, Ga.) Visit The Atlanta Journal-Constitution (Atlanta, Ga.) at www.ajc.com Distributed by MCT Information Services


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Joe Tucci: Don't blow budget talks

EMC Chairman and CEO Joe Tucci yesterday said Democrats and Republicans will have to compromise to avoid going over the year-end fiscal cliff and sending the nation back into recession.

At the Techonomy 2012 conference in Tucson, Ariz., Tucci said it would be a "vengeful act not to come together," an act that would have implications not only for the country, but for the world.

"I'm really optimistic — with one big caveat," he said in an onstage interview with Techonomy founder David Kirkpatrick. "I've never seen a time where the rest of the world is looking to the U.S. for leadership more than now."

Congress needs to raise revenues, rein in spending and come up with some plan to balance the budget over time in order to avoid the tax increases and spending cuts scheduled to take effect Jan. 1.

"If we do that, 2013 will be better than we expect," Tucci said. "If we blow that ... we'll be in a recession."

Europe, which is grappling with its own fiscal problems, needs the U.S. to prevent that from happening, he said.

China's new leadership, Tucci said, is "very bright, very well educated," and understands that their country and the U.S. must get along.

As for EMC, which has $22 billion in revenues this year, Kirkpatrick asked how strong the cloud computing company's relationship with Cisco is after EMC's VMware bought network technology startup Nicira, which Cisco had considered acquiring.

"Cisco is our closest and most strategic partner," Tucci answered, "and we will have a long and prosperous relationship" in the area of data communication.

Tucci declined to say how EMC is using technology it acquired with Pivotal Labs, which it bought in March.

"I don't want to give a lot away," he said. "We're going to be talking about it in a couple of months."

Pivotal Labs was one in a string of EMC acquisitions over the past two years. In April 2011, EMC acquired NetWitness Corp.

In May 2012, the company acquired XtremIO, Syncplicity and Watch4net.


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Signature brands make comebacks

Written By Unknown on Senin, 12 November 2012 | 18.38

Automakers are always looking for ways to be original when unveiling new models. In certain instances, this means shifting gears and storing vintage nameplates in the garage.

"There just aren't that many that survive from the old days," said Scott Oldham, editor-in-chief of Edmunds.com. "A lot of brands move away from old nameplates in order for their vehicles to seem more fresh and not old-fashioned, while others hold on to nameplates to sort of have attachment remain to the glory days."

Certain car makers such as Cadillac and Buick have retired vintage nameplates altogether. Other brands, such as Chevrolet, Dodge and Ford, have been known to release a nameplate, keep it in the marketplace for years, put the brakes on it and then re-release it to the world.

On Saturday, the Herald unveiled its top 10 list of the best tough and rugged vehicles for 2013. This time we take a drive down memory lane as we present the 10 greatest survivor nameplates on the market today.

10. Chevrolet Impala

Its peak occurred from the early 1960s to the mid-1970s before disappearing until the mid-1990s. This time around, the modern Impala remains the mainstream American sedan for the everyman, as it is affordable with high value and offers "a large package for the family that's a little fun for Dad to drive," Oldham said.

(Production years: 1957-85, 1994-96, 1999-present; MSRP: $29,189)

9. Chevrolet Malibu

Here, then gone, then back again, the Malibu is a slightly smaller, slightly more affordable sedan than the Impala. Popular in the 1960s and 1970s, the Malibu invokes "positive connotations" with California's eponymous sun-soaked destination, Oldham said, adding, "Either you're a little older and you have grand fun memories of it as a child, or somebody you knew in the '70s had one that fell apart."

(Production years: 1953-82, 1997-present; MSRP: $25,074)

8. Dodge Dart

The new Dart is unrelated to the Darts of yore besides its nameplate and "the desire to deliver an affordable, high value, small car that's a bit fun to drive and doesn't hurt the pocketbook too much," according to Oldham. This year marked the first Dart released since 1976, which is based on the Alfa Romeo, a Fiat offering. Dodge is hoping family-friendly features and a low price will be "a magical combination" this time around, Oldham added.

(Production years: 1960-76, 2012-present; MSRP: $19,763)

7. Chrysler 300

The 300 may have disappeared from 1971 to 1998, but this has become "the signature vehicle for the Chrysler brand as a rear-wheel-drive performance sedan with some old-school characteristics," Oldham said. Undergoing a redesign last year, the 300 is as appealing as ever, offering a luxury standard that competes with German counterparts. "Chrysler's tagline for the vehicle is 'Imported from Detroit,' and that's had some success for them," Oldham added.

(Production years: 1955-65, 1971, 1998-present; MSRP: $39,324)


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Reactor reuses nuclear waste

Two Massachusetts Institute of Technology doctoral candidates are designing a nuclear power plant that would convert nuclear waste from conventional reactors into electricity — a plant you could walk away from, they said, without the risk of a radioactive leak like the meltdown last year that crippled parts of Japan.

Leslie Dewan and Mark Massie, co-founders of Transatomic Power, have developed the WAMSR, or Waste-Annihilating Molten Salt Reactor, a 400- to 500-megawatt plant that would convert high-level nuclear waste into electric power, at a price competitive with fossil fuels.

"About two years ago, we got really excited about nuclear power because we saw so much potential in the industry to improve the design of reactors and stretch the limits of the technology," said Dewan, 27.

The two researched different designs and settled on a molten salt reactor, Massie said, because other types of reactors have not been economically viable.

They estimate the WAMSR could convert the waste produced by conventional nuclear reactors each year into $7.1 trillion worth of electricity, at 10 cents per kilowatt-hour.

At full deployment, the two said, their reactors could use existing stockpiles of nuclear waste to satisfy the world's electricity needs through 2083, all the while reducing the majority of the waste's radioactive lifetime from hundreds of thousands of years to hundreds of years, thereby decreasing the need for permanent repositories such as Yucca Mountain in Nevada.

Most importantly, they said, the WAMSR would differ from conventional reactors like the Fukushima I nuclear power plant — which melted down after the March 2011 earthquake and tsunami disaster in Japan — in that it would not require electric power or water to cool it in the event of an accident.

The WAMSR's efficient modular design also could be manufactured economically at a central location and transported by rail to the reactor site. And utilities could use the profits from the first plant installed to fund construction of additional ones.

Dewan and Massie already have designed the reactor core and are now working on designing the rest of their plant.

With E Ink founder Russ Wilcox as their CEO, their goal is to have a prototype ready in the next five years and a commercial reactor ready within the next 10 years.


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Soldiers get linked in

Yinon Weiss served 10 years on active duty in the military, including two tours of duty in Iraq. But it wasn't until he and another Iraq veteran, Aaron Kletzing, ran into each other as graduate students in the network-savvy world of Harvard Business School that they realized what their military careers had lacked.

"At Harvard Business School, people are always thinking about their next career move and leveraging their connections," Weiss said. "That's not the culture in the military. It's more reactive, which can be frustrating. It also hurts people when they join the private sector because introducing themselves and creating a network aren't necessarily skills they've cultivated."

Weiss and Kletzing had an idea: What service members needed was the military equivalent of LinkedIn, the social networking website for professionals.

Three and a half months after it began on an invitation-only basis with about 500 testers, RallyPoint goes live today, a Veterans Day tribute to the 2.5 million men and women in uniform.

Service members can register for free to connect with one another and find out about job opportunities in both the military and the private sector. Only employers pay to be matched to members who have indicated they wish to be contacted.

As one of the site's testers, Richard Becker, a 31-year-old Army captain attending business school at the University of Hawaii, has used it to reconnect with old friends and find out which units he may ask to be assigned to after he earns his degree.

"Before, you were beholden to human-resource managers," Becker said. "This is a one-stop shop for information on how to manage your career, so once it's time to move on, you have all your ducks in a row."

And he isn't the only one who thinks the idea has merit.

RallyPoint — the military term for the place where scattered service members on a mission are to meet up — recently was awarded $100,000 as one of four top-prize winners in the MassChallenge competition, a validation, Weiss said, of all the nights he and Kletzing stayed up until 1 a.m., refining their idea.

The two plan to eventually extend the service to military spouses and to veterans, for whom the Department of Defense spends about $1 billion annually, reimbursing states for unemployment benefits.

According to a new CareerBuilder study, 65 percent of employers said they would be more likely to hire a veteran over another equally qualified candidate. Yet for post-9/11 veterans, the unemployment rate is 9.7 percent, higher than the national average of 7.8 percent, according to the Bureau of Labor Statistics.

"One of the causes of unemployment is service members only start to look for a job once they get out, and they often don't know where to look," Weiss said. "It should not be the case that someone can risk their life for their country, and the day they get out of the service, they can't find a job.


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BBC says its news chief, her deputy 'step aside'

LONDON — The BBC's news chief and her deputy have 'stepped aside' while the broadcaster deals with the fallout from a child abuse scandal that forced its director-general to resign, the broadcaster said Monday.

Helen Boaden, the BBC's director of news and current affairs, and her deputy, Steve Mitchell, have handed over their responsibilities to others for the time being "to address the lack of clarity around the editorial chain of command," the corporation said.

"Consideration is now being given to the extent to which individuals should be asked to account further for their actions and if appropriate, disciplinary action will be taken," the statement said.

Fran Unsworth, head of newsgathering, would assume Boaden's duties and Ceri Thomas, editor of BBC radio's influential "Today" news program, will serve as deputy, the BBC said.

The move comes after resignation Saturday of the BBC's director-general, George Entwistle, after a BBC news program bungled reports that powerful Britons sexually abused children.

The corporation's governing body, the BBC Trust, confirmed on Sunday that Entwistle would get a payoff of 450,000 pounds ($715,000). It says the settlement took into consideration that Entwistle would continue working on BBC business, including two inquiries in the child abuse scandal.

John Whittingdale, chairman of the House of Commons committee on culture, media and sport, said was surprised by the settlement and called for an explanation.

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


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Extended warranties: Value is a matter of personal choice

Written By Unknown on Minggu, 11 November 2012 | 18.38

I would like to comment on your recent column on whether it is worthwhile to buy an extended warranty for a car. Extended warranties are provided by companies that need to earn a profit. In order to do this, they have to collect more money from their customers than they pay out. It is possible for a car owner to benefit from buying an extended warranty, but most people pay out more than they get back. Otherwise, the company providing the warranty won't stay in business. When I buy a car, computer or home appliance, I always decline the extended warranty. If something breaks after the warranty period, I pay for the repair with money I've saved by not buying any extended warranties, and I come out ahead. With regard to deductibles, I used to pay for low deductibles on car and house insurance. After a while I realized this was not the best option and I switched to higher deductibles. If I have to make an insurance claim, I will pay the higher deductible with money I save on insurance premiums, and I come out ahead. The same principle applies to the deductible on an extended warranty, which is another form of insurance.

I received a number of letters and e-mails commenting on my column regarding my change in position on extended warranties and service contracts. It described how now, after nearly 30 years as a "car guy," I believe in the value of purchasing an extended warranty or service contract on a new or late-model vehicle that you're going to keep for long beyond the original manufacturer's warranty expires.

I agree with the above car owner in terms of extended warranties and service contracts on appliances, home electronics and other relatively low-cost purchases. But with modern vehicles costing hundreds, even thousands of dollars to repair, I disagree.

I certainly respect the position but want to point out that, while liability coverage, and in some states personal injury protection, is mandated by law, insurance for your own vehicle is not. Thus, choosing collision and comprehensive coverage is very much akin to purchasing an extended warranty or service contract.

I choose to carry collision and comprehensive coverage on my newer vehicles. With repair and replacement costs potentially in the tens of thousands of dollars, I can't see operating them with no coverage for a loss from a crash, fire, theft or vandalism.

Ditto health insurance. It's difficult to imagine the consequences of having no coverage for a significant health issue.

I feel the same way about potential mechanical and electronic failures. Labor and replacement parts for major repairs can easily run into the hundreds or thousands of dollars. Most of us worry about engine or transmission failures as a major expense, but systems such as climate control, electronic steering, anti-lock braking system and traction control, and other sophisticated systems can cost just as much to repair or replace.

The question of deductibles is valid. I, too, carry high deductibles for collision and comprehensive coverage (and health insurance) for the basic reason that I don't expect to make claims very often. But I recognize that repairs from mechanical and electronic failures, and wear and tear over the 10-plus years I keep my vehicles, are virtually inevitable. Thus, I want to continue protection for the time/mileage frame beyond the original carmaker's warranty.

I prefer zero or very low deductibles for extended warranties and service contracts because unlike collision or comprehensive claims, which tend to deal with a single large-loss event, mechanical and electronic breakages, failures or problems can occur a number of times, particularly later in a vehicle's service life — precisely the time and mileage framework covered by these warranties and contracts. I'd rather not have to pay $50 or $100 every time I take the vehicle in for even a minor problem.

As always, life is a matter of choices. In this case, you pay your money or you take your chances. There's no right or wrong answer. It's what you're comfortable with.


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Microsoft hopes to 'break barriers' with translator

Reason No. 2,347 why Microsoft is making the world more like Star Trek: its latest voice translation project.

In an astonishing video that's making its way around the web, the company's chief research officer Rick Rashid speaks before an audience in Tianjin, China, as a computer translator spits out his words in Mandarin — in his own voice.

If you're familiar with the United Federation of Planets, you'll know that Star Fleet officers spoke different languages than Klingons and Ferengi and Vulcans. Yet they all communicated seamlessly thanks to the real-time "universal translator" that enabled everyone to hear their native language no matter what dialect was being spoken.

"The results are still not perfect, and there is still much work to be done, but the technology is very promising," Rashid wrote in a blog post this week. "And we hope that in a few years we will have systems that can completely break down language barriers. In other words, we may not have to wait until the 22nd century for a usable equivalent of Star Trek's universal translator."

He added, "We can also hope that as barriers to understanding language are removed, barriers to understanding each other might also be removed."

This latest advance brings to mind another sci-fi quest on the part of the Redmond, Wash.-software giant: its patent for "immersive display experience." As anyone who's ever watched Cmdr. William T. Riker play Parrises squares on the USS Enterprise well knows, the Star Trek holodeck provides a three-dimensional virtual reality experience, projecting images and shapes that surround the user.

While playing on your local holodeck is many decades away, Rashid's translation technology is being perfected now. In a breakthrough technology that Microsoft Research devised in cooperation with the University of Toronto, the translator learns the nuances of an individual's speech and builds a profile.

Using that data, it combines with properties from native Chinese speakers. In the case of Rashid, the system's profile then took his words, found the Chinese equivalents and reordered them to be grammatically correct Chinese.

A video of Rashid's speech shows cheers from the crowd of mostly Chinese students.

Wrote Rashid, "The commentary that's grown on China's social media forums ever since suggests a growing community of budding computer scientists who feel the same way."


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Texas firm takes on 2 apartment complexes

A Houston-based developer will break ground on two major apartment projects — one in Boston, the other in Cambridge — by the end of the year as the rental market heats up in the Hub.

Hanover Co. recently finalized a $25.6 million purchase of a 4-acre site near the Alewife MBTA station where it will build a 398-unit apartment complex. The seller was Equity Office, which carved off a piece of the Cambridgepark Drive site it acquired last year for $81.5 million. With permits for the apartment project already in hand, Hanover expects to start construction next month.

"We like the access to transit at the Alewife station and the biotech and pharmaceutical activity that Cambridge is well known for," said David Hall, a Hanover executive.

Meanwhile, the company is expected to break ground this week on a 21-story tower with 369 apartments at Pier 4 — the first wave in a redevelopment of the South Boston restaurant property.

Hanover purchased a piece of Pier 4 on Northern Avenue for $24.6 million in May from New England Development, the Newton company that shelled out $48.7 million to the Athanas family for the entire waterfront property. Two other buildings will follow.

In Cambridge, Hanover will go up against three other sizable apartment projects in the Alewife area, including a 244-unit complex by Houston-based Hines right across the street at 165 Cambridgepark Drive.

"We certainly will compete with each other," Hall said, "but the projects are somewhat staggered."

The influx of apartment projects has raised concerns among North Cambridge residents about potential traffic and environmental impacts. Construction started on a 227-unit complex at the former Faces nightclub site on Route 2, as well as a 428-unit project on Fawcett Street called The Atmark, by Boston's Cabot, Cabot & Forbes and O'Connor Capital Partners of New York.

"We just think it's a suburb zone for housing given the employment all around it," said Michael Boujoulian, a senior vice president at Cabot, Cabot & Forbes.


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Using their heads to combat cancer

A hair-raising presidential election and Hurricane Sandy didn't stop Small Army's Be Bold, Be Bald! campaign from achieving its highest participation numbers to date.

The 4-year-old initiative, spearheaded by the Hub advertising agency in the wake of co-founder Mike Connell's death from Stage 4 squamous cell carcinoma, saw upward of 6,000 people donning bald caps nationwide Nov. 2 to show solidarity with patients suffering from cancer.

Since 2009, Be Bold, Be Bald! has generated close to $600,000 for 30 large and small cancer organizations, including the Susan G. Komen for the Cure Foundation, The Jimmy Fund and Wellesley-based Heaps of Hope Inc., said Small Army CEO Jeff Freedman.

"Riding a bike, going on a walk, growing a mustache, it's all great and it's all great for fundraising, but we're more than fundraising," Freedman told the Herald. "We want discussions to start to honor the strength of cancer survivors and patients. That's equally, if not more, important than the money itself."

Newton North and Everett high schools and Boston ad agency Connelly Partners were among several local schools and businesses going "bald" for a day.

At Merrimack Pharmaceuticals in Cambridge, nearly half of the company's 240 employees wore the caps. Spokeswoman Kathleen Gallagher said the company, which donated $1,700, was inspired to join the cause after seeing how its pipeline of six clinical cancer drugs was affecting patients.

"It made us think, not just about the fact that what they're doing progresses our drugs, but the sacrifices they're making," Gallagher said.

Connell, a father of three diagnosed with cancer three times, died in November 2007 at the age of 45.

"As weak as he was; as skinny as he looked; even seeing him with all the IVs and knowing he was dying, the strength he had was just amazing to me," Freedman said. "I'd be bawling and crying and he'd be comforting me. It gave me a whole new perspective of how strong he was."


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