Arthur DeMoulas fits market basket to a T

Market Basket shoppers, workers and shareholders dodged a bullet Thursday when the grocery chain's board backed away from a proposal to fire CEO Arthur T. Demoulas, according to a former independent board member.

"There's no question in my mind that if they remove Arthur T. Demoulas as president, the value of the company will go down significantly," said Charles Roazen of Weston, who in June ended a 14-year tenure on the Tewksbury company's board. "He's an excellent operator. It would be a shame if they disrupted the culture of the company, which respects its employees ... (and) customers."

Market Basket took good advantage of a nose-diving real estate market to increase its store count and market share while remaining profitable, according to Roazen, who was elected to the board after a 1999 court order mandated three independent directors.

During a nearly 13-hour meeting Thursday in Andover, the current Market Basket board failed to act on an agenda item motioning for Demoulas' removal. Shareholders led by cousin Arthur S. Demoulas were hoping to wield new power after the June election shifted a board majority to their favor.

Arthur T. Demoulas, in a statement after the meeting, said he hoped to work constructively with the board going forward.

A spokeswoman for Demoulas had no further comment yesterday, and Arthur S. Demoulas, other shareholders and board members did not return calls for comment.

CEO since 2008, Arthur T. Demoulas is credited with increasing the 71-store chain's revenue from 
$2.48 billion in 2007 to 
$4 billion in 2012, when net income was $217 billion. And he remains well-respected in the industry, said Kevin Griffin, publisher of the Griffin Report of Food Marketing.

"He's knowledgeable, and he's a steward for a family business that has a model that works," Griffin said. "Profits are more than above average."

Employees' efforts on Demoulas' behalf — including petitions and newspaper ads — likely influenced the board, he said.

U.S. Rep. Niki Tsongas (D-Mass.) was pleased with the outcome: "... People travel from afar to take advantage of (Market Basket's) tremendous savings, the impact of which can't be understated in the daily lives of residents throughout the region. Market Basket has never stopped growing since its formative days in Lowell. ... All of this has been made possible under the leadership of Arthur T. Demoulas."

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The Ticker

Demolition to make way for Millennium Tower

This weekend Suffolk Constructon will demolish the remainder of a 1905 building at the corner of Franklin and Hawley streets that housed part of Filene's. This will allow developer Millennium Partners to begin work on the 625-foot Millennium Tower, which will include 600 condominiums and apartments, about 218,000 square feet of office space and 231,000 square feet of retail.

SEC files charges against
 hedge fund founder Cohen

The Securities and Exchange Commission leveled its most direct shot against billionaire hedge-fund manager Steven A. Cohen yesterday by filing civil charges that accuse him of failing to prevent insider trading.

The SEC alleged that Cohen, who founded and runs SAC Capital Advisors, failed to prevent two of his portfolio managers from illegally reaping profits and avoiding losses of more than $275 million. Both managers provided information to Cohen that suggested they had access to inside information, the SEC said. But rather than raise any red flags, Cohen praised one of the managers and rewarded the other with a 
$9 million bonus, the SEC said.

Calif. judge finalizing deal
in Toyota acceleration cases

A California judge said yesterday that he's finalizing a settlement worth more than $1 billion in cases in which motorists say the value of their Toyota vehicles plunged after recalls over claims they unexpectedly accelerated.

U.S. District Judge James Selna said he was approving the deal that was announced in December and will affect 22 million consumers.

• Grossman Marketing Group, a print and promotional products company headquartered in Somerville, has announced the hiring of Al Maloney as an account executive who will work out of the company's Somerville office. Maloney's primary responsibility will be to generate new business opportunities throughout the Northeast, including Western Massachusetts and Upstate New York.
• Metabolix Inc. a bioscience company delivering sustainable solutions to the plastics, chemicals and energy industries, announced that Johan van Walsem has been promoted to the position of chief operating officer. In this newly created role, Van Walsem will be responsible for the management of the company's biopolymers, biobased chemicals and crops businesses, as well as the key functional areas that enable these businesses to perform.
• HomeStart has announced the addition of Kate Jordan as the new housing search director. In this role, Jordan will assist homeless individuals and families who are currently being housed in shelters with locating permanent and affordable housing. Jordan will work with HomeStart's management team to oversee the agency's long-term planning goals and assist with the development of programs.

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Wall Street shrinking tech giants’ share prices

The tech sector is fizzling as big-name companies continue to struggle on Wall Street as earnings reports come in lower than expected.

Microsoft fell the most in more than four years after the company wrote off nearly $1 billion on its new tablet computer and reported declining revenue for its Windows operating system.

The Surface RT, Microsoft's tablet, has not had close to the success that Microsoft had hoped, spurring the company to cut prices by $150. 
Microsoft dropped $4.04, or 
11.4 percent, to $31.40 after reporting its earnings late Thursday.

That's the biggest one-day decline since the stock slumped 11.7 percent in January 2009.

Google dropped after its revenue fell below analysts' forecasts, partly because the Internet search leader's ad prices came in lower than expected. The most significant factor was revenue from mobile ads, which still lags behind other Internet ads in terms of profit.

Google fell $14.08, or
 1.5 percent, to $896.60.

"You have a lot of companies that were priced for perfection," said Max Wolff, senior analyst & chief economist at Greencrest Capital. "Neither of them met expectations."

Despite the market's upswing this month, there has been a growing list of poor tech company results.
 Intel and eBay also reported weak results this week, and chipmaker Advanced Micro reported a second-quarter loss because of a worldwide slump in PC demand.

Apple and Samsung phone sales have slowed, largely because the market is already saturated with smartphone owners.

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Crushing on my Candy addiction

The formula for consistent social media profits has been cracked, or perhaps more accurately, crushed. Unfortunately, the solution is eating my soul.

Let me back up. "Candy Crush Saga" is the most popular social media game ever, and the most addictive. A baffling 190 million people worldwide are using it. The Candy got me during a recent cold, when I was laid up and wondering, "What is this Candy Crush thing that I keep seeing on Facebook?"

It looked harmless enough at first. Rows of shiny little gumdrops and jelly beans, and all you have to do is arrange three in a row of the same color.

The first several rounds were a breeze, and I could see how my score stacked up against my Facebook friends — so many of them playing this game, and such a strange cross-section. The mommy/part-time engineer, the owner of a dance school, the do-nothing basement dweller, the high school math teacher — many ages and genders represented here.

Then my first Candy Crush hurdle: I had run out of lives. Oh well. Time to start over. But wait … I have to wait 20 minutes to earn another life, or I can pay 99-cents for a full set? Well, just this one time …

There's another way to get lives: You can beg friends for them. It forces you to connect and commiserate with friends.

And therein lies the genius formula. The route to instant gratification costs money, and they provide an instant circle of equally wayward friends to cheer you on.

Analysts believe this fad will live on far longer than previous runaway hits like "Farmville," "Texas Hold 'Em" and "Words with Friends." For starters, the rules are far simpler. There is no learning curve. And rather than pushing out sequels and add-ons, the makers of "Candy Crush Saga," a European company called King, have vowed to keep the game constantly evolving. And some of the levels are so difficult that winning feels like an accomplishment.

One of my friends was stuck on the same level for 30 days. "Sadly, I still played it several times a day," she reports. There's something about these colorful little candies.

I'm sure the fine folks at King consulted industrial psychologists in their quest to create an addiction. What better way than to tap into society's disgusting love/hate relationship with sugary treats?

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The Ticker

Detroit files for bankruptcy

Detroit yesterday became the largest city in U.S. history to file for bankruptcy, as the state-appointed emergency manager filed for Chapter 9 protection.

A number of factors — most notably steep population and tax base declines — have been blamed on Detroit's tumble toward insolvency. Detroit lost a quarter-million residents between 2000 and 2010. A population that in the 1950s reached 1.8 million is struggling to stay above 700,000. Much of the middle class and scores of businesses also have fled the city, taking their tax dollars with them.

Mass. jobless rate climbs to 7 percent

The state's unemployment rate rose yesterday, further narrowing the employment gap between the state and the rest of the country.

Massachusetts added 2,800 jobs in June, but the unemployment rate rose to 7 percent, the Executive Office of Labor and Workforce Development said yesterday.

While the state unemployment rate remains below the national rate, the state's unemployment is only .6 percent less than the national rate, compared to 1.2 percent lower in January.

Senators make deal on student loans

Student borrowers will see interest rates reduced to levels near those that expired last month under a deal announced by Senate lawmakers yesterday, potentially ending a battle over college costs that had divided Democrats and threatened to leave students with sharply higher costs.

South Station to get new bar

Commuters in South Station hoping to do something other than eat in the food court and stare at the train schedule will finally get their chance.

Bar and restaurant chain Tavern in the Square will be opening an "airport style" bar in the center of South Station, according to restaurant management.

The 750-square-foot location will have televisions, roughly 40 seats ­— bar and table — and will offer 50 draft beers and a limited menu of Tavern's most popular items.

TODAY

 General Electric Co. reports quarterly financial results.

 Christine Ward, left, has been named director of operations for Raising A Reader Massachusetts, an early literacy nonprofit organization. Ward joined the organization in 2010 and continues to work in Operations and Human Resources, helping the organization expand across the state and double the size of the team.

 Intarcia Therapeutics announced the hiring of Dr. Eddie Li to the newly created position of vice president and global head of regulatory affairs. Li brings more than 20 years of experience in regulatory affairs to Intarcia.

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Boston Globe bidder files suit vs. ex-partner

Two media bigs who teamed up to try to buy The Boston Globe in 2011 are now engulfed in a long and pricey breach of contract dispute, as former Time Inc. CEO Jack Griffin is suing Orange County Register publisher Aaron Kushner for up to $10 million in New York Civil Supreme Court, according to court filings.

Griffin — now part of a local group comprised of cousins and former Globe owners Stephen and Benjamin Taylor hoping to buy the broadsheet — is accusing Kushner of stiffing him on payouts after his company, 2100 LLC, acquired the Orange County Register and six other newspapers last year.

Kushner, a former greeting-card merchant from Wellesley, first hired Griffin as a senior adviser at a rate of $600 an hour to consult on the group's possible acquisition of the Globe in June 2011, according to court documents.

The Globe deal never happened, but one year later Kushner's group bought Freedom Communications, which included the West Coast papers.

Griffin alleges the two agreed that he'd be appointed a director and officer, get a one-year consulting contract for $250,000 and a 3.449 percent stake in the company, which, based on the company's then-$5.8 million value, would be worth $200,000.

But six days later, 2100 revalued itself at $89 million and Griffin's share in the company was diluted to 0.225 percent, the lawsuit claims.

Griffin insists in the suit that Kushner relied on Griffin's "name, reputation and contacts" to execute the Freedom deal.

But Kushner's lawyer, Seth L. Levine, vowed to "vigorously" fight the claims.

"Mr. Griffin's lawsuit is frivolous and entirely without merit," said Levine. "His efforts to extract from 2100 Trust and Mr. Kushner an exorbitant sum which he never earned and to which he was never entitled is totally inappropriate."

A spokesman for Griffin said he was a "visible" member of the 2100 leadership team.

"Despite using Mr. Griffin's name, credentials and significant insights gained from working three decades at the highest levels in the publishing industry, 2100 Trust did not compensate Mr. Griffin nor did it grant him equity in the company or name him as a Director, according to its obligations and representations," said Al Minahan.

Judge Barbara Kapnick refused Kushner's motion to dismiss on all four counts earlier this year.

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Upscale units in Hub offer pedalling perk

Does watching the Tour de France make you want to jump on a bike?

Related Companies and Zagster, a Cambridge-based company that provides bicycles, have launched a bike-sharing program, making Related Companies the first real estate company to offer the pedalling perk.

Bikes will be located initially in 10 of Related's New York City and Boston properties — including the Hub luxury rental building One Back Bay.

Readily available bicycles offer a way to go out for appointments and errands as well as on social trips to a restaurant or to visit friends.

"Residents will be able to experience the ultimate in convenience while exercising, running errands and living green," said Daria Salusbury, senior vice president of Related, who leads the company's luxury residential leasing operations.

"Related understands the changing dynamics of today's urban resident, who is very interested in sustainable, convenient and efficient transportation," said Timothy Ericson, co-founder and CEO of Zagster. "By offering Zagster, Related can meet their residents' needs while providing Related a key differentiator in a highly competitive market."

The bike-share program continues Related's foray into groundbreaking advances in sustainability and lifestyle services.

"We see bikes as analogous to the pool or gym at these properties," he said. The benefit to the customer is that Zagster maintains the bikes and storage area.

Just as Zipcar has become a much-sought amenity for urban professionals looking for places to live, he thinks Zagster will influence people looking for apartments or office space.

"We think Zagster will be like Zipcar and become a factor in deciding where they live, work and visit," he said.

Ericson sees Zagster as complementary rather than competitive with city bike-sharing services, such as Boston's Hubway.

"We actually have more interest from clients in cities that have bike sharing programs like Hubway. Bike sharing systems are all about short trips that are one way. Ours are for longer trips, commuting, etc." Ericson said.

Zagster offers riders the Breezer Uptown, an award winning bike known for its lightweight yet durable construction, specifically designed for city riding. All bikes will be located on property in garages or parking structures.

Each bike also comes equipped with a basket so, Ericson said, "You can't go Thanksgiving shopping, but you can certainly do your daily shopping." With an attached flexible lock, riders can park their bikes wherever they want, allowing the ultimate in convenience.

Added Ericson: "We set it up to be completely hands off for the properties. If someone shows up and there is a flat tire, or someone hasn't returned their rental, they fill out an incident report and we go out and fix it."

Jennifer Athas is a licensed real estate broker. Follow her on 
Twitter @Jenathas

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US tech earnings weigh on markets

LONDON — Disappointing earnings from two U.S. technology giants and renewed concerns over the growth prospects for China and Japan weighed on markets Friday despite better U.S. economic news.

Stocks in Asia and Europe retreated even though Wall Street struck record levels again on Thursday after some encouraging U.S. economic data. Stocks around the world have had a generally solid week especially after U.S. Federal Reserve Chairman Ben Bernanke indicated that the scale and scope of the central bank's monetary stimulus may remain in place for longer than many in the markets had been predicting.

"The big question for investors is whether the improving U.S. economic position justifies current market levels or whether, as we've seen from last night's technology earnings, the current levels are overly optimistic," said Rebecca O'Keeffe, Head of Investment at Interactive Investor.

Specifically, she was referring to the less-than-impressive earnings reports from Microsoft and Google that were released after the close of U.S. trading Thursday. Google's quarterly report showed its average ad rate fell from the previous year for the seventh consecutive quarter. In an unexpected turn, the decline deepened for the first time in a year.

Software giant Microsoft booked a large write-off to its Surface RT business after it slashed prices on the tablets to stimulate demand this week. Its quarterly earnings results also showed that Windows 8, an operating system designed to bridge the divide between PCs and tablets, has been so poorly received that it contributed to a revenue drop in its operating system software unit.

In Europe, the FTSE 100 index of British shares was 0.3 percent lower at 6,614, while Germany's DAX fell 0.2 percent to 8,313. The CAC-40 in France was down 0.2 percent at 3,919.

Wall Street was poised for a disappointing open with both Dow futures and the broader S&P 500 futures down 0.2 percent.

Stock markets, particularly in the U.S., have had a bumper month following a bout of jitters prompted by uncertainty over when the Fed will start reducing its monetary stimulus.

The Fed has been buying $85 billion of financial assets a month in the hope of reducing long-term borrowing rates and shore up the U.S. economy. Bernanke has said that the so-called tapering will begin when a number of economic indicators point to a clear recovery path. The prospect that it may remain for longer has been greeted positively by investors who have grown used to the stimulus money floating around markets.

"Despite the weakness in stocks this morning, global equities are still on track to post a fourth week of gains, helping to underpin the generally bullish feeling in the market of late," said David White, a trader at Spreadex.

Earlier in Asia, markets closed mostly lower following the tech reports in the U.S. and amid worries over the Chinese and Japanese economies, the world's number 2 and 3.

China this week reported its second straight quarter of slower growth and authorities appear determined to stick to a path of shifting the economy away from reliance on investment and exports, which could dent economic activity in the near term.

In Japan, the initial euphoria over the "Abenomics" stimulus policies of Prime Minister Shinzo Abe has faded and doubts have emerged about whether deeper reforms will be carried out. Japan holds upper house elections this weekend.

Japan's Nikkei 225 shed 1.5 percent to 14,589.91 while Hong Kong's Hang Seng added just 0.1 percent to 21,362.42. Seoul's Kospi wavered between gains and losses, finishing 0.2 percent down at 1,871.41. China's Shanghai Composite index fell 1.5 percent to 1,992.65.

The mood was fairly steady in other financial markets.

In currency markets, the euro was flat at $1.3103 while the dollar was stable at 100.45 yen.

In oil markets, the price of benchmark New York crude was 14 cents lower at $107.90 a barrel.

____

Cerojano contributed from Manila, Philippines.

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The Ticker

Bernanke soothes investors on bond buys

Federal Reserve Chairman Ben Bernanke mollified investors yesterday with testimony that the central bank's $85 billion per month in bond purchases "are by no means on a preset course."

Testifying before the House Financial Services Committee, Bernanke said the Fed's quantitative stimulus program depends on economic and financial developments.

TODAY

• Labor Department releases weekly jobless claims.
• Freddie Mac, the mortgage company, releases weekly mortgage rates.
• Conference Board releases leading indicators for June.

THE SHUFFLE

• JM Coull Inc., a 29-year-old Massachusetts construction firm, announced Richard Gilfoy, left, has been hired as chief financial officer. Gilfoy was most recently the chief financial officer at Cutler Associates, where he was responsible for all corporate financial matters and information technology.

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Suffolk prof relishes role as ‘explorer’ at visual frontier

He used to be just Andrew Perlman, Suffolk Law professor, and he was fine with that.

But for the past month, he's been Andrew Perlman, Google Glass Explorer, and nothing has been the same.

There was the stranger who refused to walk in front of his technology-enhanced field of vision.

But most people, he says, are curious or excited. Walking into a cellphone store the other day, Perlman said, "I was like a rock star."

Perlman, director of the Institute on Law Practice Technology and Innovation, applied for one of thousands of spots in Google's Glass Explorer program in February, and was selected by Google in March.

"I had both personal and professional reasons," Perlman said. "I've always been fascinated by technology."

Professionally, Perlman plans to use the wearable device in his classroom to increase engagement from students. In the fall, shy or nervous students will be able to text questions to Perlman during lectures. Because the texts will pop up in Glass, Perlman will see them and be able to respond.

"Glass might be a useful complement to the usual way of interacting" in the classroom, he said. "I'm always interested in bringing technology into the classroom in ways I think can be helpful and keep students engaged."

Glass could also have uses in legal environments as well, such as in depositions or for taking notes during a trial, he suggested.

Meanwhile, Perlman said, he is looking forward to seeing what happens when he puts the device on one of his daughters during a gymnastics meet.

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Eyeing Google's vision

OK Glass, I see you.

The technological love-child of a smartphone and glasses with a bit of "Star Trek" mixed in, Google's Glass is the pinnacle of possibly-before-its-time, always connected, wearable technology.

Its role in society and our lives is not quite clear yet, but it sure is cool. It is on the faces of thousands of select Glass Explorers right now, one of whom was generous enough to let me try it out for a bit.

Packed in a frame not much larger than bulky sunglasses, the Bluetooth and Wi-Fi-enabled device feels like wearing a pair of glasses. The side unit, which includes essentially every important part of Glass, sits comfortably on the ear, despite its size.

Using Glass is surprisingly natural, after a couple minutes of adjustment time. Even when the display is on and active, the screen is in my vision if I want it to be and was easy to ignore. Google describes the view as looking at a 25-inch TV floating eight feet away, and that's about right. The speaker behind the right ear works well, but the touch panel menu takes a bit of use to adjust to.

The self-consciousness of using voice commands does go away, eventually. Triggering commands by saying "OK Glass," I was able to reply to an incoming text, take a picture and search the Web. Still, voice control was not as fluid and natural as it could be. Asking for "images" works fine, but "pictures" does not.

The camera likely will provide the most use for consumers. Given the popularity of Go Pro cameras and first person video, there is enormous potential. Google's original demo famously featured skydivers recording with Glass, but any parent sick of watching a dance recital through a phone will love the concept.

The most impressive feature right now is something long taken for granted: navigation. The screen shows a display similar to Google Maps on a smartphone, but the utility and ease that the map adjusts to your position and direction you face is simple, and brilliant.

There is an urge to actively use Glass constantly, but it excels when it passively sits on your head. Posting texts and calendar alerts via Google Now and breaking news alerts from news apps are all natural uses of the technology. The times when I felt slightly disappointed with Glass were when I was searching for a reason to use it. The future of Glass will depend largely on what apps are developed.

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Bernanke comments keep markets firm

LONDON — Stocks continued to rise Thursday after the U.S. Federal Reserve said it will extend its stimulus policies if necessary, though Chinese markets were overshadowed by uncertainty over the country's economic outlook.

In prepared remarks to lawmakers in Congress, Fed Chairman Ben Bernanke said the Fed's timetable for reducing its bond purchases was not decided and that the central bank could even boost them if the economy fails to meet expectations.

The Fed wants to see substantial progress in the job market before scaling back its $85 billion a month in purchase of government bonds and other financial assets, he said.

Expectations the Fed might start tapering off its stimulus in September caused market jitters last month. But recent disappointing economic data has cast doubt over the likelihood of any major changes in the near future.

In Europe, the FTSE 100 index of British shares was up 0.4 percent to 6,597.03 while Germany's DAX was up marginally at 8,256.82. The CAC-40 in France edged 0.3 percent higher to 3,885.19.

Wall Street was expected to show little momentum on the open, with S&P 500 futures up 0.1 percent and Dow futures unchanged.

The focus later in the day will return to Bernanke, who will continue his testimony to the Senate.

Corporate earnings may also affect trading, with Google, Microsoft, Morgan Stanley and Verizon all due to announce results. In Europe, Nokia shares were down 4 percent after the handset maker reported disappointing second-quarter results.

In Asia, Japan's Nikkei 225 rose 1.3 percent to 14,808.50, its highest close in two months, but gains elsewhere in the region were much more modest. Australia's S&P/ASX 200 added 0.2 percent to 4,993.40. Shares in Indonesia, Malaysia, Thailand, India and Singapore were also higher.

China-related shares were mostly lower, reflecting gloom over news earlier in the week that the world's second-largest economy posted its second straight quarter of slower economic growth in April-June.

Hong Kong's Hang Seng shed early gains to fall into negative territory, losing 0.1 percent to 21,345.22. Benchmarks in mainland China and Taiwan also were lower. The Shanghai Composite dropped 1.1 percent to 2,023.40.

"The slowdown of growth in China is still the main concern," said Linus Yip, a strategist at First Shanghai Securities in Hong Kong.

In other markets, the benchmark crude contract for August delivery was down 22 cents at $106.27 in electronic trading on the New York Mercantile Exchange. The contract rose 48 cents on Wednesday.

The euro fell to $1.3111 from $1.3117 late Wednesday. The dollar rose to 100.03 yen from 99.62 yen.

___

Elaine Kurtenbach in Tokyo contributed to this report.

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The Ticker

Yahoo sales drop

Yahoo reported quarterly sales that fell slightly short of both Wall Street's expectations and its own results from a year ago. Excluding revenue shared with advertising partners, Yahoo's sales came up just shy of $1.1 billion for the quarter ended June 30, down about 1 percent from last year. Sales for Yahoo's display advertising business dropped 11 percent.

Cross to sell off its pen division

Lincoln, R.I.-based A. T. Cross Co. is selling its division that makes pens — long an iconic gift item — to an affiliate of private equity firm Clarion Capital Partners for $60 million. The company said it will focus on expanding the Cross Optical Group that includes Costa and Native Eyewear sunglasses.

CDC taps QuantiaMD to update doctors

Waltham-based QuantiaMD, a learning and collaboration Web platform for physicians, has been tapped by the Centers for Disease Control to educate doctors about new or updated CDC guidelines about infectious diseases using interactive, expert-led presentations.

The company's social functionality will allow the CDC to receive feedback from doctors around the country, the company said.

AT&T to let users upgrade more often

A new AT&T plan will allow wireless customers to upgrade their smartphones every year. The carrier announced AT&T Next, an option that lets a smartphone or tablet owner snag a new device every year at no additional costs — instead of every two years — letting customers keep up with fast-paced technology advances. AT&T Next will work similarly to plans introduced by rival T-Mobile.

TODAY

 Commerce Department releases housing starts for June.

 Federal Reserve releases Beige Book.

TOMORROW

 Labor Department releases weekly jobless claims.

 Freddie Mac releases weekly mortgage rates.

 Conference Board releases May leading indicators.

 Citi Performing Arts Center announces the appointment of Patrice Cleaves, left, as the director of concert and event marketing. With 13 years of sales and marketing experience in the live entertainment industry, Cleaves will lead the organization's show-related marketing, advertising, promotions and outreach initiatives towards building new concert and family audiences for Citi Center venues including the Wang, Shubert, and Emerson Colonial Theatres.

 Outercurve Foundation, an open source software foundation, announced today that Jim Jagielski would be taking over as the president of the board of directors. He is a co-founder of the Apache Software Foundation and is a consulting engineer for open source software firm Red Hat.

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Antarctic talks fail on apparent Russia objections

BREMERHAVEN, Germany — Facing apparent Russian objections, the countries that regulate Antarctic fishing failed Tuesday to agree on proposals to create giant marine sanctuaries in the continent's oceans.

Talks in the German city of Bremerhaven ended with no result — the second time in less than a year that negotiations have stalled.

"The outcome is not what we expected or hoped for ... We did not reach a consensus," said Terje Lobach, the chair of the group deliberating the results.

Two plans were on the table: a proposal put forward by the U.S. and New Zealand to protect the Ross Sea, considered one of the world's most pristine, and an Australian-European plan for a sanctuary covering several areas of the Southern Ocean in the eastern hemisphere.

Russia, however, questioned whether there is a legal basis for the 24-nation Commission for the Conservation of Antarctic Marine Living Resources to create the reserves, according to activists present during the talks.

"After two years of preparation, including this meeting, which Russia requested to settle the scientific case for the Ross Sea and East Antarctic proposals, we leave with nothing," the director of the Antarctic Ocean Alliance, Steve Campbell, said in a statement.

U.S. Secretary of State John Kerry expressed regret that the commission was unable to reach agreement on establishing marine protected areas, including in the Ross Sea. Despite the setback, he noted that the majority of commission members "were able to find common ground" and there will be another chance to work out a plan to protect Antarctica.

"I've seen firsthand how acidification, pollution, and sea level rise tear at the fabric of our economies, our communities, even our security," Kerry said in a statement released late Tuesday. "But this isn't just a personal priority. The Ross Sea is a natural laboratory. Its ecosystem is as diverse as it is productive, and we have a responsibility to protect it as environmental stewards — just as we do the rest of the ocean."

Scientists have said the ocean sanctuaries there would be ideal places to monitor climate change away from the influence of man, while conservations say the thriving colonies of seals and penguins should be left alone. However, several countries fear that the sanctuaries would have too much impact on their annual fishing haul.

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Law firm says it's suing Boeing over Asiana crash

CHICAGO — A Chicago law firm has taken steps to sue Boeing Co. on behalf of 83 people who were aboard the Asiana Airlines flight that crash-landed in San Francisco earlier this month, alleging that a malfunction of the plane's auto throttle may have caused the crash.

Ribbeck Law Chartered on Monday filed a petition for discovery, which is meant to preserve evidence, in Cook County Circuit Court in Chicago, where the aircraft manufacturer is headquartered. The firm said in a news release that additional pleadings will be filed against Asiana Airlines and several component parts manufacturers in coming days.

In addition to potential problems with the Boeing 777's auto throttle, some emergency slides reportedly opened inside the plane, injuring passengers and blocking their exit, and some passengers had to be cut out of their seatbelts with a knife, the firm contends.

Three people were killed when the airplane, carrying 307 passengers and crew on a flight from South Korea to San Francisco International Airport on July 6, approached the runway too low and slow. It clipped a seawall at the end of a runway, tearing off the tail and sending the plane spinning down the runway. The impact caused the plane to catch fire.

"We must find the causes of the crash and demand that the problems with the airline and the aircraft are immediately resolved to avoid future tragedies," attorney Monica R. Kelly, head of Ribbeck's aviation department, said in a written statement.

Boeing spokesman John Dern said the company had no comment.

The petition asks a judge to order Boeing to identify the designer and manufacturer of the airplane's autothrottle and its emergency evacuation slides. It also seeks information on the systems that indicate the airplane's glide slope and that warn how close it is to the ground. Kelly said the firm wants to protect the wreckage "from destructive testing" and to obtain maintenance records, internal memos and other evidence.

A passenger filed a lawsuit against Asiana in San Francisco federal court on Monday, saying the airline showed "wanton and willful disregard for the rights and safety of all passengers," the San Francisco Chronicle reported. Younga Jun Machorro and her 8-year-old son, Benjamin Machorro, were seated toward the front of the plane and both suffered back and neck injuries, their lawyer, Michael Verna, told the paper.

The pilots of Asiana Flight 214 have told investigators they were relying on automated cockpit equipment to control their speed. Inspectors found that the autothrottle had been "armed," or made ready for activation, but investigators are still determining whether it had been engaged, the National Transportation Safety Board has said.

Two of the plane's eight slides malfunctioned, opening inside the cabin and pinning two flight attendants underneath.

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Markets edgy ahead of Bernanke testimony

LONDON — Markets grew more edgy in the run-up to Wednesday's testimony from U.S. Federal Reserve chairman Ben Bernanke.

Stocks, which had been solid during the Asian session, started to drift lower as the European day progressed and Wall Street was poised for a modest retreat at the open.

Bernanke's testimony to lawmakers in Congress is the key event for markets this week. Investors will be particularly interested to see if he spells out a more precise timetable for when the Fed starts to reduce its monetary stimulus. The Fed is currently spending $85 billion a month buying financial assets in the markets in order to lower long-term borrowing rates and shore up the U.S. recovery.

In recent weeks, the expectation had been that the Fed might start the so-called tapering in September but a recent run of uninspiring U.S. economic figures have put that assumption into question. Uncertainty is never a good thing in markets and investors will be looking for more clarity.

"Equity traders are certainly in a cautious mood ahead of Ben Bernanke's testimony to lawmakers," said Mike McCudden, head of derivatives at Interactive Investor.

In Europe, the FTSE 100 index of leading British shares was down 0.5 percent at 6,524 while Germany's DAX fell 0.7 percent to 8,140. The CAC-40 in France was 0.6 percent lower at 3,827.

Wall Street was poised for a lower opening, with Dow futures and the broader S&P 500 futures down 0.2 percent.

The dollar was steady ahead of Bernanke's testimony, which could have big repercussions for the currency. As well as boosting stock markets, the Fed's monetary stimulus over the past few years has largely kept a lid on the dollar. In late morning London trading, the euro was steady at $1.3151 while the dollar was 0.4 percent higher at 99.58 yen.

"We expect that Bernanke will be no more dovish than he was last week meaning that the dollar index could find some support after the testimony," said Jane Foley, senior currency strategist at Rabobank International.

Bernanke last week said the central bank would not ease its stimulus before the economy was ready and that the U.S. needs "highly accommodative monetary policy" — or low interest rates — for the foreseeable future.

The next batch of U.S. corporate earnings will also be monitored, especially those from Bank of America, eBay and Intel.

Earlier in Asia, the mood was a bit perkier.

China's Shanghai Composite Index fell 1 percent to 2,044.92 while Tokyo's Nikkei 225 gained 0.1 percent to 14,615.04. Hong Kong's Hang Seng rose 0.3 percent to 21,371.87 and Seoul's Kospi added 1.2 percent to 1,889.50. B

Oil prices drifted lower alongside equities, with the benchmark New York rate down 72 cents at $105.28 a barrel.

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Asiana to sue San Francisco TV station over names

SEOUL, South Korea — Asiana announced Monday that it will sue a San Francisco TV station that it said damaged the airline's reputation by using bogus and racially offensive names for four pilots on a plane that crashed earlier this month in San Francisco.

An anchor for KTVU-TV read the names on the air Friday and then apologized after a break. The report was accompanied by a graphic with the phony names listed alongside a photo of the burned-out plane that had crashed at San Francisco International Airport on July 6, killing three and injuring dozens.

Video of the report has spread widely across the Internet since it was broadcast.

The National Transportation Safety Board has also apologized, saying a summer intern erroneously confirmed the names of the flight crew.

Asiana has decided to sue KTVU-TV to "strongly respond to its racially discriminatory report" that disparaged Asians, Asiana spokeswoman Lee Hyomin said. She said the airline will likely file suit in U.S. courts.

She said the report seriously damaged Asiana's reputation. Asiana decided not to sue the NTSB because it said it was the TV station report, not the U.S. federal agency that damaged the airline's reputation. Lee did not elaborate.

KTVU-TV did not immediately reply to emails sent by The Associated Press seeking comment.

Neither the station nor the NTSB commented on where the names originated.

The four pilots, who underwent questioning by a U.S. and South Korean joint investigation team while in the U.S., returned to South Korea on Saturday. South Korean officials plan to conduct separate interviews with them, South Korea's Ministry of Land, Infrastructure and Transport said.

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Stop ... India sends its last telegram

NEW DELHI — India's last telegram went out late Sunday, marking the end of a service that millions of Indians had relied on for fast communication for more than 160 years.

Hundreds of people thronged the 75 telegraph offices remaining in the country to send their last telegrams to friends or family as a keepsake.

The company canceled holidays for staff at the offices to handle the rush, Shameem Akhtar, general manager at the Bharat Sanchar Nigam Ltd., which runs India's telegram service, said Monday.

The company says declining revenues forced it to end the service, which had become obsolete in an age of email, reliable landlines and ubiquitous cellphones.

Some of the last-day users sent telegrams to Kapil Sibal, India's minister for telecommunications, pleading for the service to be continued.

"The losses were mounting. It was not viable to have kept it going much longer," Akhtar said. That was especially true as the number of cellphone users exploded, with 867 million subscribers as of April.

The telecommunications ministry said it lost $250 million in the last seven years and that it was time to put an end to the service.

India's telegram service began in 1850, when the first telegram was sent from the eastern city of Kolkata to Diamond Harbor, a southern suburb nearly 40 kilometers (25 miles) from the city center.

Over the next few decades, telegraph offices proliferated, wiring the vast subcontinent with a network that became known for its speed and dependability.

At its peak in the mid-1980s, more than 45,000 telegraph offices dotted the country, with tens of thousands of telegraph workers and delivery men dispatching more than 600,000 telegrams a day. From birth and death announcements, to college admissions, job appointments and court summons, the telegram was the main way tens of millions of Indians __ in the remotest parts of the country and in its teeming cities __ received important news.

Until recently, the government used telegrams to inform recipients of top civilian awards and for court notices. India's armed forces even recognized telegrams from troops extending vacations or from soldiers' families requesting their presence at home for a funeral.

It was not immediately known what mode of communication the government will choose to replace the telegram for these types of announcements, but officials said since a lot of work was now done electronically, government departments will likely opt for email.

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Markets shored up by China's 7.5 percent growth

LONDON — Relief over China's economic growth rate helped shore up the mood in financial markets Monday ahead of a raft of U.S. corporate earnings and retail sales figures.

The world's second-largest economy grew 7.5 percent from a year earlier in the second quarter. Though the figure is down on the previous quarter's 7.7 percent, there had been fears that it may have fallen below 7 percent in the wake of efforts by the country's monetary authorities to clamp down on risky lending. A sharp drop would hurt companies around the world that have become increasingly reliant on breakneck Chinese growth to boost earnings.

"China's growth rate might still be on a steadily declining path, but investors were happy enough to see it come in line with expectations, growing by 7.5 percent in the second quarter," said Chris Beauchamp, market analyst at IG. "Beijing was keen to emphasise that internal consumption was picking up the slack, and helpfully retail sales rose strongly during June."

Combined with an easing in tensions over Europe's financial crisis and diminishing fears about the Federal Reserve's plans to rein in its monetary stimulus, the figures bode well for markets.

"We could be in for a week of quiet, steady gains for stock markets," he said.

Following a 1 percent rise in the Shanghai Composite Index to 2,059.39, European stock markets have posted solid gains. The FTSE 100 index of leading British shares was up 0.3 percent at 6,565, while Germany's DAX rose 0.1 percent to 8,225. The CAC-40 in France was 0.4 percent higher at 3,872.

Wall Street was poised for a solid opening with Dow futures and the broader S&P 500 futures up 0.2 percent.

How they open could hinge on a run of earnings, notably from Citigroup. June retail sales figures will also be closely monitored an hour before the bell on how they affect the debate over when the Fed will start 'tapering' its monetary stimulus. The median expectation in the markets is that they rose around 0.8 percent during the month.

"Today's retail sales data for June could well feed into the tapering debate if we get an improvement in line with recent consumer confidence numbers which have been much better than expected," said Michael Hewson, senior market analyst at CMC Markets.

For weeks now, the Fed's monetary stance has been the main driver in markets. The Dow and the S&P 500 struck all-time highs last week partly on an indication from the Fed that the monetary stimulus may be in place for longer than expected. At the moment, the Fed is buying around $85 billion of assets in the markets, and that's helped prop up stocks for months.

The dollar has faltered in recent days as expectations of a Fed tightening have eased. It clawed back some ground Monday, with the euro 0.3 percent lower at $1.3033. The dollar was 0.5 percent higher at 98.81 yen.

Earlier in Asia, Hong Kong's Hang Seng added 0.1 percent to 21,303.31 and Sydney's S&P/ASX 200 gained 0.1 percent to 4,981.10. South Korea's Kospi rose 0.3 percent 1,875.16. Japan's financial markets were closed for a public holiday.

Oil prices gave up some recent gains. Benchmark crude for August delivery was down 33 cents at $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.04 to $105.95 in New York on Friday, driven higher by continuing tensions in Egypt and a sharp drop in U.S. crude stockpiles.

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Nissan re-launches Datsun after 30 years in India

NEW DELHI — Nissan launched a new Datsun in India on Monday, three decades after shelving the brand that helped win Western acceptance of Japanese autos.

The company hopes that bringing back the brand that built its U.S. business will fuel growth in emerging markets with a new generation of car buyers.

The reimagined Datsun — a five-seat hatchback — will go on sale in India next year for under 400,000 rupees (about $6,670). It will also be sold in Indonesia and Russia, with the company saying its offerings will be tailored to each market in terms of price and size.

In India, the English-language promotional website for the car describes it as the "badge of the risers," an appeal to aspirational first-time auto buyers.

"The drivetrain is designed specifically to suit the local environment, eliminating any stress or complexity for the risers to go forth," the website says.

Nissan Motor Co. is hoping the comeback of one of its defining brands will herald the same rapid expansion that the Datsun provided when it hit American showrooms more than 50 years ago.

The Datsun was discontinued globally starting in 1981 to unify the model lineup under the Nissan brand. Nissan also makes Infiniti luxury models.

Faced with stagnating sales in established markets such as Japan and Europe, most global automakers have their eyes on fast-growing developing countries that also include China, Mexico and Brazil.

Nissan CEO Carlos Ghosn said Monday in New Delhi that first-time car buyers in places like India want the best car they can get at a price within their reach.

"We are responding to that with the return of Datsun," Ghosn said.

India's population of 1.2 billion is a lure for automakers hoping to ring up big sales numbers, albeit with cheaper prices and lower profit margins.

But the Datsun enters the Indian market at a tough time. Sales of passenger cars fell by 10 percent in the April-June quarter from the previous year, according to the Society of Indian Automobile Manufacturers.

Indian consumer spending has been hit by an economic slowdown and high interest rates that make car loans less affordable.

Plus, it's unclear whether the Datsun brand — which still retains wide name recognition in Western markets — will translate to emerging markets' younger consumers. Nissan officials have acknowledged that downside but said the brand still stands for good styling, durability and safety.

Ghosn said in 2012 that the Datsun name is part of Nissan's heritage and retains recognition, even in new markets.

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Obama's gift to ESPN's Kornheiser is game of golf

WASHINGTON — President Barack Obama's birthday gift to ESPN commentator Tony Kornheiser is a game of golf. With the president.

The White House said Obama teed off Saturday with Kornheiser and Michael Wilbon, co-hosts of the sports network's "Pardon the Interruption" talk show. Saturday was Kornheiser's 65th birthday.

Obama spent more than four hours at the golf course at the Army's Fort Belvoir in Virginia, south of Washington. The president is an avid sports fan and viewer of ESPN programming.

The White House did not identify the fourth member of the presidential golf party.

In the evening, Obama and first lady Michelle Obama attended daughter Sasha's singing performance at a friend's house in Gaithersburg, Md.

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Drink detectors make a stir

Three years ago, Mike Abramson was at a Boston nightclub celebrating a friend's birthday when he ordered a gin and tonic that turned out to be both impossible to remember and impossible to forget.

"The next thing I recall is being shuffled over the arms of friends as they dragged me out the door," said Abramson, a 31-year-old patent attorney. "Most of the night is a blur. I was so nauseous, I was bedridden the next day. I know that my drink was drugged, but I have no idea by whom."

Because of that, he never reported the incident to police, but he did go on to found DrinkSavvy, a Boston startup and MassChallenge finalist that aims to eradicate drug-assisted date rape with cups, straws and stirrers that change color if a drink has been tampered with.

The U.S. Justice Department estimates that at least 400,000 people are drugged each year, but the number could be much larger because the department estimates that fewer than 5 percent ever report it.

Like Abramson, many don't remember the incident or are afraid of being accused of drinking too much.

Women in particular often are advised not to accept drinks from strangers, not to leave their drink unattended and not to drink from punch bowls.

"But it only takes half a second for someone to slip something in your glass," he said. "And it's difficult to detect because it's usually colorless, odorless and tasteless."

Abramson researched other drug-detectors such as coasters, but found them awkward to use because you have to pour some of your drink onto them and wait for them to dry and change color.

Other companies make testing strips, but they're only as good as the second you dip them into your drink.

So Abramson teamed up with chemists from Worcester Polytechnic Institute and raised more than $52,000 from nearly 2,600 donors on the crowdfunding platform Indiegogo.com to develop plastic party cups, straws and stirrers that, when they are completed, will change color in three to five seconds if a drink has been spiked.

"We make invisible drugs visible without the user having to do anything," Abramson said. "It's discreet, effortless monitoring of your drink throughout the night."

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Study: Locations key to gambling success in Mass.

If Massachusetts picks the right locations for its new gaming resorts, it will pull the plug on much of the $853 million Bay State gamblers spent last year in New England states while drawing gamblers from other states, a new study says.

"Where the commonwealth ultimately sites three casinos and the slot parlor will determine whether Massachusetts is able to reassert dominance over New England's gaming entertainment and tourism sectors," said study author Clyde W. Barrow of the Center for Policy Analysis at the University of Massachusetts Dartmouth.

Massachusetts Gaming Commission Chairman Stephen Crosby called the study "good news" and agreed that siting the Bay State's gaming venues will be critical both in competing with other states' casinos and slots parlors, but also in putting them in places where they will be most attractive to the maximum number of Bay State gamblers.

The study showed Bay State gamblers spent 
$853 million in 2012 in other New England states including Connecticut, Rhode Island and Maine.

"The first criteria, although not the only one, when people choose a facility is convenience, and right now people in Massachusetts have been leaving the state for other facilities," Crosby said. "But convenience is not the only thing, and we're going to have very fancy, very high-end facilities . . . To maximize the economic benefit here in Massachusetts we need to maximize the convenience to people in Massachusetts, and we want to site them so they have the maximum draw for people from outside of the state."

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MGM, anti-casino group make final push before Springfield vote

A big-money casino and a grass-roots movement have entered full campaign mode in the days leading up to Tuesday's referendum in Springfield when residents vote on the $850 million casino proposed by MGM Resorts.

Both opponents and supporters of the casino proposal said they planned to be at the polls Tuesday, drumming up support for their cause.

"We've been working really hard for many, many months," said Mike Mathis, vice president of Global Gaming Development for MGM.

"There's much more support than we even expected to see," said Peter Swarr, one of the leaders of Citizens Against Casino Gaming, a local anti-casino group. "Our goal is to say Springfield is not sold on this."

Springfield election commissioner Gladys Oyola said she expects voter turnout to exceed that of the U.S. Senate special election last month. Everett voter turnout was 50 percent higher for the casino vote than the June 25 Senate race, just three days apart.

The months leading up to the vote have been marked by a massive spending gap between supporters and opponents of the casino. MGM has given nearly 
$1 million in the past month and a half in donations and in-kind contributions to Yes For Springfield, a pro-casino group, according to a campaign finance report. Yes for Springfield spent more than $800,000 in advertising and canvassing. MGM also brought in rap star Pitbull to perform at the MassMutual Center for another $173,000 in May.

Citizens Against Casino Gaming listed in-kind contributions worth just over $2,500 for bumper stickers, yard signs and printing since Jan. 1. The only other expenses listed are bank maintenance fees.

"It's like David and Goliath," Swarr said.

Voters will cast their ballots for or against a Host Community Agreement agreed upon by the City Council and MGM. The agreement lays out the terms of the project, including size and annual payments to the city. The agreement calls for an anticipated annual payment greater than $25 million, 2,000 construction jobs and 3,000 permanent jobs, 90 percent of which must be from the Springfield area.

If the referendum is approved, MGM's proposal will be evaluated by the state Gaming Commission based on criteria including revenue projections, positive impact on the state and local benefit.

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