The Ticker

Judge: Apple to modify e-book contracts

Looking to force Apple to obey antitrust laws, a judge yesterday ordered the technology giant to modify contracts with publishers to prevent electronic book price-fixing and said she will appoint an external compliance monitor to review the company's antitrust policies and training.

Stocks finish flat as traders mull weak jobs data, Syria tensions

The stock market ended flat yesterday as traders hoped for more economic stimulus from the Federal Reserve, and worried about escalating tensions between the U.S. and Syria.

Stocks opened slightly higher but soon fell after Russian media reported that Navy ships were en route to Syria, raising worries of a wider conflict and sending the Dow Jones Industrial Average plunging by as much as 148 points in the first half-hour of trading. The Dow rose as high as 15,009 and dropped as low as 14,789 — a 220-point range.

Vegas newspaper buyout bid a go

The corporate owners of the Las Vegas Review-Journal cleared one hurdle yesterday in a bid to buy out the family publishers of their crosstown rival and end a joint operating agreement with the Las Vegas Sun.

U.S. District Judge James Mahan decided it was too early to block Stephens Media from trying to buy Sun newspaper and Internet interests from four Greenspun family member trustees.

Ticketmaster revises sales process

Fans of popular artists or sports teams are painfully aware how difficult it is to find good seats to live events at affordable prices. With a new ticket resale system, Ticketmaster is trying to show you what seats are available in one place — both unsold ones and those up for resale — so you can price-shop more easily.

The nation's largest ticket-seller quietly began rolling out its system, called TM+, for certain shows, including a Black Sabbath concert in Massachusetts in August. More than two dozen professional sports teams have signed up, including many in the NFL.

THE SHUFFLE

• Deborah Hadden, left, has been appointed port director by Thomas P. Glynn, CEO of the Massachusetts Port Authority (Massport). In her new role, Hadden will be responsible for directing the planning, development, marketing, operation, security, financial management, administration and maintenance of Massport's non-aviation properties in the Port of Boston.
• MacAulay-Brown Inc., a National Security company providing engineering and technical solutions to Defense, Intelligence, Homeland Security and Federal agencies, announced that it has promoted Fred Norman to senior vice president and general manager of MacB's Mission Systems Group. He will report directly to MacB President and CEO Sid Fuchs.

18.39 | 0 komentar | Read More

Nissan rolls out a sleeker Altima

Fully redesigned for 2013, the Nissan Altima is a smart choice for competitively priced, comfortable driving. A quiet cabin features upgraded materials throughout with excellent visibility and well-thought-out controls.

The car may not be a sports sedan, but hop into the NASA-aided-design "no fatigue" seats, grab hold of the leather-wrapped steering wheel, hit the push-button start, flip the paddle shifters, crank the easy-to-use infotainment system and away you go.

Nissan has smoothed out much of the conservative roundness of earlier versions of the car, streamlining it with a tighter grill, lowered roofline, sleeker fender curves and chrome-tipped dual exhaust, adding much to the curb appeal of this popular midsize. The car is slightly wider and longer, and the cabin and trunk are huge. The iconic bug-like headlamps fit well into the new body style with the taillights curling into rear fenders.

Engine choices remain the same from prior years. The midlevel 3.5 SV tester we drove had the 3.5 liter V-6 coupled to a CVT that produced a robust 270 horsepower, allowing the car to easily cruise on the highway and giving me plenty of pop from stop. Gas mileage estimates run from 22 in the city to 31 on the highway, and I averaged 26, right in the middle of the range.

The handling of the sedan left me underwhelmed and wishing for more road feel. The soft and cushy steering response is what prevents Altima from being classed as a sport sedan. However, this daily commuter provides solid footing and a compliant ride, and I think most folks will enjoy driving the car and find maneuvering around town quite easy.

I found the cabin to be very relaxing and the controls well-placed and easy to use. The redesign carries over here, too, with a nice mix of soft and hard surfaces. It replaces the heavily chromed cockpit shape with a slick combination of brushed aluminum and polished surfaces, and the dash is more appealing with streamlined vents and gauges — ending a decade-old design of round, oversized, protruding pieces. My Bluetooth phone-based Pandora streamed with a touch of a button through the stereo, highlighting a new infotainment center that is keyed off the navigation screen.

Nissan has pushed the Altima up into the same crowded class as the Honda Accord, Ford Fusion, Toyota Camry, Mazda 6, VW Passat and Hyundai Sonata vying for market share. At a base MSRP of $27,780 and tested at $29,335, this well-appointed SV has only one trim level higher that primarily adds leather seats and is a worthy entry in the class. The base model starts at $22,000, and with eight models you should be able to configure a nice car for a price point that's affordable.

18.39 | 0 komentar | Read More

Jobs news rattles Fed

An unexpectedly poor jobs report yesterday that included significant downward revisions for employment in June and July has brought uncertainty to the market, and has analysts questioning the timing of the Fed's plan to taper its $85 billion bond-buying program later this month.

The U.S. economy added just 169,000 jobs last month, below analysts' estimates, while the number of jobs added in June and July was revised down by 74,000, the Labor Department said.

The lower-than-expected numbers are likely to cause Federal Reserve Bank chairman Ben Bernanke to think twice about tapering the central bank's $85 billion bond buyback program later this month, experts said.

"A good report would have sealed the case for tapering to being in September," said Nigel Gault, co-chief economist at the Parthenon Group. "The report has thrown everything up in the air."

The central bank was expected to begin tapering its bond-buying program — credited with keeping interest rates low — after its meeting Sept. 17 and 18.

"This report really questions whether the Fed should be doing that," Gault said.

The jobless rate fell to 7.3 percent, but only because labor force participation fell to 63.2 percent, its lowest level in 35 years.

Bernanke has set a target unemployment rate of 7 percent, but Gault said that number does not hold much significance after yesterday's report.

"It's not going to take that long to get the unemployment to 7, but it's getting there for the wrong reasons," he said.

"The Fed's got themselves in a bit of a pickle in my view."

With labor force participation at its lowest level since 1978, Frank Conte of the Beacon Hill Institute said "prospective workers have little confidence about the ability of this economy to create full-time jobs."

Yesterday, two members of the Federal Reserve panel responsible for voting on tapering came out on opposite sides of the issue.

Charles Evans, president of the Chicago Fed, spoke before the job numbers were announced and expressed concerns about the strength and momentum of the economy. Esther George, president of the Kansas City Fed, speaking after the job numbers were announced, called for tapering of $15 billion a month.

Gault still expects the Fed to begin to taper, but not as aggressively as they otherwise would have.

"There's a huge question mark there," he said. "It does suggest that maybe the path to tapering could be a bit longer than anticipated."

18.39 | 0 komentar | Read More

Victorian shines on Waltham street

It's hard not to notice the F.W. Wetherbee House, a striking Queen Anne-style Victorian amid equally large but mostly nondescript homes along Waltham's Crescent Street.

Built in 1892, the 10-room, three-floor dwelling's corner turret, elaborately patterned shingles, ornamented Italianate front porch, and green and red paint scheme give it a commanding presence.

The 3,500-square-foot home — listed on the Massachusetts and National Registers of Historic Places — has been renovated and restored by its owners of 16 years and retains 19th-century elements, both original and reproduced.

The asking price is $739,000 for the five-bedroom, 21⁄2-bathroom home with hardwood floors, down from $769,000 when it previously was on the market about a year ago, according to Realtor Glenna Gelineau of Century 21 Gelineau & Associates in Waltham.

Two sets of original pocket doors lead to the spacious living room and smaller parlor, both of which feature stained-glass windows. A small alcove graces the front of the living room at the base of the turret, while the parlor boasts a working fireplace with original tiles.

Original chair rails, Anaglypta wallpaper and oak flooring decorate the dining room. A pantry with original wooden built-ins leads into the modern kitchen with its maple cabinets, granite countertops and island, and a stainless steel Bosch dishwasher, Thermador gas range with griddle and Sub-Zero refrigerator. There's a half bath off the kitchen and a door to the side, wraparound covered porch.

The home is named for its first owner, Frank W. Wetherbee, who worked as a foreman for the American Waltham Watch Co. on Crescent Street. It formerly served as a college fraternity house and boarding house, traces of which have been erased.

Lincrusta, a deeply embossed wallcovering resembling leather, covers the lower part of the wall in the eight-foot-wide foyer and extends up the original stairway to the second-floor hallway.

The second level includes an office/library with built-in bookcases between two bedrooms, a cedar-lined linen closet and a full bath with dual sinks, granite-tiled, walk-in shower and soaking tub. The master bedroom has a large walk-in cedar closet and bamboo flooring.

The refinished third floor, which includes sloped ceilings, can function as an au pair or teen suite. There are cabinets and a small sink and fridge right off the stairs, a full bath, two bedrooms and another large room. A separate door from that room opens to the sunlit turret, which has five arched windows and an original, but chipping, painted ceiling.

The spacious walk-out basement, which includes workshop-grade wiring and lighting, has a washer and dryer, an original two-basin soapstone sink and door to the backyard.

The backyard includes a small lawn with plantings and a two-car garage, but overlooks an office park.

Other features include central vacuum and alarm systems, a new cast-iron Peerless boiler and a 200-amp electrical service.

The house was featured on HGTV's "Restore America" cable program last year.

Broker: Glenna Gelineau of Century 21 Gelineau & Associates, 781-710-1749

18.39 | 0 komentar | Read More

Google argues for right to continue scanning Gmail

SAN JOSE, Calif. — Attorneys suing Google say the firm violates privacy and takes personal property by electronically scanning the contents of people's Gmail accounts and then targeting ads to them.

"This company reads, on a daily basis, every email that's submitted, and when I say read, I mean looking at every word to determine meaning," said Texas attorney Sean Rommel, who is co-counsel suing Google.

But in a federal court hearing Thursday in San Jose, Google argued that the case should be dismissed, and that "all users of email must necessarily expect that their emails will be subject to automated processing."

Judge Lucy Koh said she would consider Google's request to terminate the case, but she said she is also interested in scheduling a trial for next year, indicating she is unlikely to dismiss. She did not say when she would decide.

The lawsuit, filed on behalf of 10 individuals, is expected to be certified as a class action and is widely seen as a precedent-setting case for other email providers.

The plaintiffs say Google "unlawfully opens up, reads, and acquires the content of people's private email messages" in violation of California's privacy laws and federal wiretapping statutes. The lawsuit notes that the company even scans messages sent to any of the 425 million active Gmail users from non-Gmail users who never agreed to the company's terms.

And Rommel said "the data that's being amassed by this company" could be used for more than just targeting advertising, although the parts of the lawsuit discussing what more Google might be doing with private information is currently under seal.

"The injury is two-fold: the privacy invasion and the loss of property. Google is taking people's property because they can get it for free as opposed to paying for it," Rommel said.

Scrutinizing Google's privacy policy, Judge Koh noted that it doesn't specify that Google is scanning Gmail when it describes the type of information it's collecting.

"Why wouldn't you just say 'the content of your emails?'" she asked.

Google attorney Whitty Somvichian said that the company is attempting to have a single privacy policy for all of its services, meaning it didn't separately reference every single product.

But he said it's "inconceivable" that someone using a Gmail account would not be aware that the information in their email would be known to Google.

Google has repeatedly described how it targets its advertising based on words that show up in Gmail messages. For example, the company says if someone has received a lot of messages about photography or cameras then it might display an advertisement from a local camera store. Google says the process is fully automated, "and no humans read your email..."

"Users, while they're using their Google Gmail account, have given Google the ability to use the emails they send and receive for providing that service," Somvichian said in court. "They have not assumed the risk that Google will disclose their information and they fully retain the right to delete their emails."

Privacy advocates have long questioned the practice, and were closely watching the lawsuit.

"In this Gmail case Google is trying to argue that its technology is exempt from privacy and wiretap laws. If they win, it will set a horrible precedent that they will try to apply to other Google technologies greatly threatening consumers' privacy rights," Consumer Watchdog Privacy Project director John Simpson said on Thursday.

18.38 | 0 komentar | Read More

Market Basket, ‘A’ to ‘B’

Market Basket CEO Arthur T. Demoulas and other so-called "B" shareholders in his camp are asking a court to put on hold a $300 million shareholder payout until a judge decides whether the company's interim board chairman is independent as mandated by a 1998 court ruling.

Because chairman Keith O. Cowan had served since 2012 as one of the "A" shareholders led by Arthur S. Demoulas — who's been trying to remove his cousin as CEO of the Tewksbury-based grocery chain — Cowan cannot be considered independent, the court documents argue.

Although Cowan's designation has changed to an independent "A/B" director, "his marching orders certainly had not," according to a lawsuit filed yesterday in Suffolk Superior Court. He has "continued to take directions from, and execute the agenda of, the family that originally selected him and now has elected him," the lawsuit filed against Arthur S. Demoulas, the other "A" shareholders and Cowan states.

"Mr. Cowan is pursuing in a rapid, almost frantic, fashion, the agenda and interests of the "A" shareholders, including … their hunt for extreme liquidity in the form of large distributions," a slowing of company growth and removal of the CEO at the "expense of a very successful business model," according to the lawsuit.

The lawsuit notes that Cowan voted the same way as Arthur S. Demoulas on 19 of 22 votes at July board meetings — and was the deciding vote in August on the $300 million payout that "B" directors opposed.

"At the meetings, it is very clear that Mr. Cowan's conduct, and votes, are being directed by Arthur S. Demoulas," the lawsuit states.

A spokeswoman for Arthur T. Demoulas declined comment. Cowan and the board's spokeswoman could not be reached.

Under a 1998 Middlesex Superior Court ruling, three members of the seven-member Market Basket Board must be "disinterested, independent" directors meeting New York Stock Exchange standards. The ruling was intended to balance the interests of the two long-warring factions of the Demoulas family.

The "A" shareholders have wielded new power after a June election shifted a board majority to their favor. This allowed them to elect all three independent directors and Cowan as chairman.

The lawsuit is the latest volley in a string of lawsuits between the two factions of the Demoulas family since 1990. A hearing is set for Sept. 19.

18.38 | 0 komentar | Read More

New projects replenish dwindling housing stock

It's no surprise that the inventory levels of residential real estate in Boston are down — way down.

According to the Multiple Listing Service (MLS), in an analysis of the Back Bay, Beacon Hill and South End neighborhoods, it's become extremely low.

Here's a look at the shrinking reality, for Sept. 4
over the past three years:

•    2011: 391 units

•    2012: 196 units

•    2013: 162 units

That's a drop of 141 percent!

So where will the new inventory come from going forward? The current Millennium Place building slated to open this fall is at approximately 75 percent capacity. Beyond that there are plenty of buildings in the works though all seem to be lease options for the moment. Could the developers of these buildings decide to change direction and offer units to purchase instead?

There are approximately 3,200 new leased apartments expecting to be delivered to market in the Boston metro area in 2013, which is more than doubled from 1,500 new supplies in 2012. Add to that an additional 8,000 units expected to be delivered in the next two to three years and you see why we become a bit speculative.

Here are a few of the larger options both hitting the market today and in the near future:

580 Washington St.
 265 units

Currently for sale. Approximately 75 percent capacity.

426 Washington St. 
500 units

Ground breaking Sept. 17

659 Washington St. 
381 units

Currently being leased.

45 Stuart St. 
404 units

Spring 2014

1 Herald St. 
475 units

Spring 2015

Pier 4 
369 units

Spring 2014

L West Square

320 D St. 
260 units

Fall 2013

The bottom line is that the Boston real estate market continues to exhibit strong growth supported by a steady improvement in the overall economic employment environment, a steady rise in new construction, a decrease in the overall vacancy rate and a strong rent growth.

Charlie Abrahams is a licensed real estate agent in Boston who works with buyers and sellers and 
can be reached for any 
additional information 
at Bostonrealestate
@charlieabrahams.com.

18.38 | 0 komentar | Read More

Mass. AG, officials hold forum on foreclosures

SPRINGFIELD, Mass. — Attorney General Martha Coakley is holding a home foreclosure prevention program in Springfield with local officials and advocates.

Coakley's office says the state's first-in-the-nation HomeCorps program has helped work out more than $35 million in reductions of home loan principal and 1,700 loan modifications. Officials of the program, along with a Springfield homeowner whose home was saved by the program will talk about that and other efforts to prevent foreclosures at the Friday morning event.

Others scheduled to take part are state Sen. Gale Candaras, Springfield Housing Director Geraldine McCafferty, and other city and county officials and local housing advocates.

The forum is being held at the attorney general's Springfield regional office.

18.38 | 0 komentar | Read More

State grabs $21 million 
in employer fraud sweep

The state has recovered more than $21 million over an 18-month period by rooting out employer fraud in the so-called underground economy — an amount that is more than the state recovered in the three previous years combined, officials said.

"These efforts are a reflection of the state's capacity to encourage businesses to play by the rules," Secretary of Labor and Workforce Development Joanne F. Goldstein said.

The $21 million in wage restitution, state taxes, unemployment contributions from employers, fines and penalties was recovered from July 2011 to December 2012 by the Joint Enforcement Task Force on the Underground Economy and Employee Misclassification. The task force, which was created in 2008 by Gov. Deval Patrick, focuses on employers in the underground economy who have multiple workers they are misclassifying in order to avoid responsibilities related to wages, payroll taxes, insurance, licensing and safety, Goldstein said. The employees often are mischaracterized as independent contracters, or are paid in cash.

After receiving a tip in the fall of 2011, for example, the joint task force launched an investigation into the Marriott Copley Place renovation project and ultimately uncovered $1.17 million in unreported wages by subcontractors.

"People who operate off the books cheat taxpayers because they're not making state or federal contributions," said Mark Erlich, executive secretary-treasurer of the New England Regional Council of Carpenters. "They also cheat legitimate employers who can't compete with them and workers who don't get unemployment when they're laid off or workers' compensation when they get injured."

18.39 | 0 komentar | Read More

No results from tech tax talk

Frustrated tech industry leaders pushing to repeal a potentially job-killing tech tax say they're stepping up efforts to rally support after a closed-door meeting with the governor and legislators yesterday produced no answers on whether they plan to repeal and replace the controversial new levy.

"This is the No. 1 topic in the State House, and it will only intensify because the grassroots effort is only building," said Michael Widmer, president of the Massachusetts Taxpayers Foundation, who was among those urging Gov. Deval Patrick, House Speaker Robert A. DeLeo and Senate President Therese Murray to ax the new tax on software services, whose broad wording analysts fear will sap the state's competitive edge.

"The calls, the emails, the media attention — none of that will end," Widmer vowed. "We will become a black mark in this nation if this stays in effect."

After inviting a handful of business leaders to air their concerns, Patrick later ducked the media, ordering his staff to cancel a press conference and instead releasing a one-paragraph statement in which he called the discussion "constructive and robust."

"While we did not arrive at a solution, we all committed to seeking one together over the next few weeks," Patrick said. But, attendees noted, the meeting did not include a discussion of what alternatives legislators could have if the tax is repealed, and the $161 million it is expected to generate vanishes.

"I think that the governor and the Legislature has been clear that that is their concern," said Andy Singleton, CEO of Assembla, a Needham software services firm, who attended the meeting.

Widmer and businesses did gain a victory yesterday, however, after Attorney General Martha Coakley's office certified their ballot initiative to repeal the tax, leaving activists to collect nearly 69,000 signatures by December — a goal Widmer said he's "very confident" they'll reach.

"The appetite is the Legislature does not want this to appear on the November 2014 statewide ballot," said Chris Anderson of the Massachusetts High Technology Council.

Andrew Mazzarella Faria of the newly formed Spark Coalition said activists plan to set up another phone-based protest Sept. 9 similar to the one Tuesday that sent at least 180 calls into legislators' offices.

"My general take is we got their attention," he said. "They're noncommittal because they think they can still fix it. But they're getting educated. ... This (tax) is not repairable."

18.39 | 0 komentar | Read More

Samsung tries to take bite out 
of Apple with smartwatch reveal

Samsung Electronics kicked off the busiest week in tech this year with a direct broadside at Apple, announcing a new tablet-style phone, a new 10-inch tablet and its first foray into wearable technology.

At an event in Berlin and simulcast in Times Square, the South Korean technology giant announced the Galaxy Note 3, the Galaxy Note 10.1 and Galaxy Gear, a long-awaited smartwatch.

"Samsung wants its moment in the sun," said Max Wolff, senior analyst and chief economist for ZT Wealth. With the timing ahead of Apple's anticipated iPhone and operating system upgrades, widely expected to be unveiled at an event Tuesday, Wolff said, "Samsung is gaming the PR wars."

Samsung's insurgent assault on the market monolith Apple does not stop at the timing, though.

Samsung's Galaxy Gear smartwatch, functioning as a $299 extension of Samsung's newest, popular high-end phones, displays notifications on its 1.63 inch touchscreen, has a camera built in to the strap, and works with 70 apps, including locally based fitness app RunKeeper.

The Galaxy Gear announcement was likely prompted by rampant rumors of an iWatch, analysts said.

"There was a decision made that being the first one out there with a smartwatch was valuable in itself," Wolff said.

The Galaxy Note 3, a smartphone with a massive 5.7-inch screen, includes many new features like Scrapbook, a way to save content, but much of the presentation focused on the design of the phone, which has a leather-like back.

"The overall launch with the focus on design is really taking aim at Apple," said N. Venkat Venkatraman, a professor of management at Boston University.

18.39 | 0 komentar | Read More

The Ticker

Surgical gear may have spread brain disease

New Hampshire public health officials believe one person died of a rare, degenerative brain disease, and there's a remote chance up to 13 others in multiple states were exposed to it through surgical equipment.

Dr. Joseph Pepe, president of Catholic Medical Center, said officials are 95 percent certain that a patient who had brain surgery in May and died in August had sporadic Creutzfeldt-Jakob disease.

Officials have notified eight people who had brain surgery during that time period, because the faulty proteins that cause the disease can survive standard sterilization.

AG certifies 14 citizens' petitions for potential referendum votes

Citizens' petitions to raise the minimum wage, eliminate the gas tax's tie to inflation and raise the minimum wage to $10.50 per hour were certified by Attorney General Martha Coakley's office to continue on toward the 2014 ballot, while a proposal to prohibit casinos was denied.

Coakley's office certified 28 petitions on 14 topics yesterday and denied five petitions. Generally only a few of the petitions certified by the AG make it all the way to the ballot.

Oil falls as U.S. weighs Syria action

The price of oil fell yesterday amid uncertainty over the United States' plans to launch a punitive strike against Syria.

Benchmark oil for October delivery fell $1.31, or 1.2 percent, to close at $107.23 a barrel on the New York Mercantile Exchange.

TODAY

 Labor Department releases second-quarter productivity data.

 Institute for Supply Management releases its service sector index for August.

 Labor Department releases weekly jobless claims.

 Russia hosts two-day summit of G-20 leaders.

TOMORROW

 Labor Department releases employment data for August.

 Federal Statistical Office releases export and import data for July.

 Lewis Lee, left, has joined Nelson Mullins Riley & Scarborough LLP in its Boston office. Lee focuses his practice on intellectual property. He has a study and research background in intellectual property law that includes patent, copyright and licensing.

 New England College of Business and Finance announced Michele Jurgens has joined the college as chairwoman of the master of science in business ethics and compliance program. She will be responsible for overseeing one of NECB's most innovative graduate programs.

18.39 | 0 komentar | Read More

Candidates tout economic plans

Bostonians would enjoy higher minimum wages, better job training and a better shot at construction jobs under plans touted by three mayoral candidates yesterday, in an indication of the key role the city's economic health will play in the final weeks before the preliminary election.

City Councilor Felix G. Arroyo, Suffolk District Attorney Daniel F. Conley and Charlotte Golar Richie all released economic plans on Labor Day geared to win support from working-class voters. All three called for an increase in the state minimum wage.

Arroyo told the Herald he supports the proposal for an increase from $8 to $11 an hour by 2015 currently in front of the state Legislature.

He also called for using the city's power in negotiating contracts to ensure companies who win city contracts pay their employees a living wage, similar to the Living Wage Ordinance passed by the City Council in 1998.

Golar Richie is also in favor of the minimum wage bill.

Conley agreed that the minimum wage should increase, but his campaign declined to give a specific number, citing the need for further research.

The city has seen skyrocketing growth in recent years, with an unemployment rate of 5.9 percent. But the working-class voters who may be key to the election have seen manufacturing jobs ebb. All three candidates advocated connecting residents to growing industries in Boston, including the high-skill fields of health care and academia.

"I believe that we have a responsibility to link Boston residents to jobs that exist today," said Arroyo, whose plan includes increasing the quality and availability of job-training and expanding STEM education.

Conley outlined a similar plan to "give Boston residents a chance to share in the economic life of the city today and tomorrow." Many health-care jobs are filled from other towns and states, he said, adding that he will work with medical institutions to make sure residents have a shot, as well as increasing training opportunities.

Arroyo and Conley both called for a revision and increased enforcement of the Boston Residents Job Policy, which calls for construction projects in Boston to use at least 50 percent Boston residents, 25 percent minorities and 10 percent women.

"I intend to revise the policy to guarantee more Boston jobs for Boston residents," Conley said.

Arroyo called for better enforcement and an increase to 50 percent minority and 15 percent female workers.

Golar Richie's plan includes the creation of 30,000 jobs over the next three years, with an emphasis on low-income residents and single mothers.

"I will make sure that Boston residents receive a fair share of these new jobs, particularly those residents that have been hardest hit over the past several years by the recession," she said.

18.39 | 0 komentar | Read More

Studies examine cardiac safety of two new diabetes drugs

Two studies published in the New England Journal of Medicine yesterday offered hope for doctors, patients and pharmaceutical firms concerned about the potential negative cardiovascular effects of new drugs designed to combat Type 2 diabetes.

A new class of drugs known as DPP-4 inhibitors did not appear to raise a patient's risk of heart attack, stroke or 
cardiovascular death.

"This large cardiovascular outcome trial sets a new standard for examination of the safety of diabetes drugs," Deepak L. Bhatt of Brigham and Women's Hospital, one of the study's authors, said in a statement.

One study followed more than 5,300 patients for 18 months as a part of the randomized study of the drug alogliptin. The other trial studied the effect of saxagliptin on more than 16,000 randomized patients who had a history of or were at risk for cardiovascular events and monitored them for two years.

The cardiac safety of glucose-lowering drugs has been the subject of keen interest in the pharmaceutical industry since December 2008, when the Food and Drug Administration issued new guidelines with specific requirements for heart-safe drugs before and after the approval of new antidiabetic drugs.

The saxagliptin study found more patients were hospitalized for heart failure compared with the placebo group, an unexpected issue that "deserves further study," said study chairman Eugene Braunwald of Brigham and Women's Hospital.

18.39 | 0 komentar | Read More

Microsoft to buy Nokia phones, patents for $7.2B

REDMOND, Wash. — Microsoft is buying Nokia's line-up of smartphones and a portfolio of patents and services in an attempt to mount a more formidable challenge to Apple and Google as more people pursue their lives on mobile devices.

The 5.44 billion euros ($7.2 billion) deal announced late Monday marks a major step in Microsoft's push to transform itself from a software maker focused on making operating systems and applications for desktop and laptop computers into a more versatile and nimble company that delivers services on any kind of Internet-connected gadget.

Microsoft, which is based in Redmond, Wash., is being forced to evolve because people are increasingly pursuing their digital lives on smartphones and tablet computers, causing the demand for PCs to shrivel. The shift is weakening Microsoft, which has dominated the PC software market for the past 30 years, and empowering Apple, the maker of the trend-setting iPhone and iPad, and Google, which gives away the world's most popular mobile operating system, Android.

Nokia, based in Espoo, Finland, and Microsoft have been trying to make inroads in the smartphone market as part of a partnership forged in 2011. Under the alliance, Nokia's Lumia smartphones have run on Microsoft's Windows software, but those devices haven't emerged as a popular alternative to the iPhone or an array of Android-powered devices spearheaded by Samsung Electronics' smartphones and tablets.

Microsoft is betting it will have a better chance of narrowing the gap if it seizes complete control over how the mobile devices work with its Windows software.

"It's a bold step into the future — a win-win for employees, shareholders and consumers of both companies," Microsoft CEO Steve Ballmer said in a statement.

The acquisition is being made at the same time that Microsoft is looking for a new leader. Just 10 days ago, Ballmer, 57, announced he will relinquish the CEO reins within the next year in a move that many analysts regarded as Microsoft's tacit admission that the company needed an infusion of fresh blood to revitalize itself.

The deal could fuel speculation that Nokia's CEO, former Microsoft executive Stephon Elop, will emerge as a top candidate to succeed Ballmer. Elop will step aside as Nokia's president and CEO to become executive vice president of Nokia devices and services in preparation for joining Microsoft once the acquisition closes. Chairman Risto Siilasmaa will stay in his current role and assume the duties of interim CEO.

Microsoft hopes to complete the deal early next year. If that timetable pans out, about 32,000 Nokia employees will transfer to Microsoft, which currently has about 99,000 workers.

The proposed price consists of 3.79 billion euros ($5 billion) for the Nokia unit that makes mobile phones, including its line of Lumia smartphones that run Windows Phone software. Another 1.65 billion euros ($2.2 billion) will be paid for a 10-year license to use Nokia's patents, with the option to extend it indefinitely.

It will represent the second most expensive acquisition in Microsoft's 38-year history, ranking behind an $8.5 billion purchase of Internet calling and video conferencing service Skype. Tony Bates, who ran Skype, is also regarded as a potential successor to Ballmer.

The money to buy Nokia's smartphones and patents will be drawn from the nearly $70 billion that Microsoft held in overseas accounts as of June 30.

Microsoft expansion into mobile devices hasn't fared well so far. Last year, the company began selling a line of tablets called Surface in hopes of undercutting Apple's iPad. The version of Surface running on a revamped version of Microsoft's Windows operating system fared so poorly that the company absorbed a $900 million charge in its last quarter to account for the flop.

Nokia plans to hold a news conference in Finland on Tuesday morning to discuss the deal. Microsoft executives will elaborate on their rationale for the deal shortly after Nokia wraps up its presentation.

18.39 | 0 komentar | Read More

Nokia stock surges on Microsoft takeover

HELSINKI — Microsoft Corp. is buying Nokia Corp.'s line-up of smartphones and a portfolio of patents and services in an attempt to strengthen its fight with Apple Inc. and Google Inc. to capture a slice of the lucrative mobile computing market.

The 5.44 billion euros ($7.2 billion) deal announced late Monday marks a major step in the company's push to transform itself from a software maker focused on making operating systems and applications for desktop and laptop computers into a more versatile and nimble company that delivers services on any kind of Internet-connected gadget.

"It's a bold step into the future — a win-win for employees, shareholders and consumers of both companies," Microsoft CEO Steven Ballmer told reporters at Nokia's headquarters in Finland Tuesday. "It's a signature event."

Microsoft hopes to complete the deal early next year. If that timetable pans out, about 32,000 Nokia employees will transfer to Microsoft, which currently has about 99,000 workers.

The proposed price consists of 3.79 billion euros ($5 billion) for the Nokia unit that makes mobile phones, including its line of Lumia smartphones that run Windows Phone software. Another 1.65 billion euros ($2.2 billion) will be paid for a 10-year license to use Nokia's patents, with the option to extend it indefinitely.

Investors in Nokia welcomed the deal, sending shares in the company up some 40 percent to 4.12 euros in Helsinki.

Microsoft, based in Redmond, Wash., has been racing to catch up with customers who are increasingly pursuing their digital lives on smartphones and tablet computers rather than the traditional PCs. The shift is weakening Microsoft, which has dominated the PC software market for the past 30 years, and empowering Apple, the maker of the trend-setting iPhone and iPad, and Google, which gives away the world's most popular mobile operating system, Android.

Nokia, based in Espoo, near the Finnish capital, and Microsoft have been trying to make inroads in the smartphone market as part of a partnership forged in 2011. Under the alliance, Nokia's Lumia smartphones have run on Microsoft's Windows software, but those devices haven't managed to compete with iPhone or an array of Android-powered devices spearheaded by Samsung Electronics' smartphones and tablets

Microsoft is betting it will have a better chance of narrowing the gap if it seizes complete control over how the mobile devices work with its Windows software.

Despite the dismal performance of Windows phones — 7.4 million units in the second quarter compared to Apple's 31 million and 187 million Android phones, according to research company IDC — Microsoft CEO Steven Ballmer was upbeat about the partnership with Nokia, saying he was encouraged by a growth of 78 percent in Lumia phone sales in a year.

"Now is the time to build on this momentum and accelerate it further," Ballmer said Tuesday. "Finland will become the hub and center for our phone R&D and we are counting very much on the incredible talent of Nokia employees to be a key part of driving and propelling Microsoft forward."

Ballmer said that Microsoft will invest more than $250 million in a new data center to serve European consumers.

Neil Mawston from Strategy Analytics said the move was good for Nokia's shareholders but did not change much for the ailing Finnish firm which has lost significant market share.

"Nokia is still heavily dependent on Microsoft's software capabilities and Microsoft continues to lag the market like it has done in the last few years," Mawston said. "Not much will change whether Nokia is inside or outside the Microsoft portfolio."

The acquisition is being made at the same time that Microsoft is looking for a new leader. Just 10 days ago, Ballmer, 57, announced he will relinquish the CEO reins within the next year in a move that many analysts regarded as Microsoft's tacit admission that the company needed an infusion of fresh blood to revitalize itself.

Nokia said that Stephen Elop will step down as president and CEO of the company with board chairman Risto Siilasmaa taking over his duties as an interim CEO.

The deal has fueled speculation that Elop, a former Microsoft executive, will emerge as a top candidate to succeed Ballmer. He will become executive vice president of Nokia devices and services in preparation for joining Microsoft once the acquisition closes

The deal with Nokia represents the second most expensive acquisition in Microsoft's 38-year history, ranking behind an $8.5 billion purchase of Internet calling and video conferencing service Skype. Tony Bates, who ran Skype, is also regarded as a potential successor to Ballmer.

The money to buy Nokia's smartphones and patents will be drawn from the nearly $70 billion that Microsoft held in overseas accounts as of June 30.

Microsoft expansion into mobile devices hasn't fared well so far. Last year, the company began selling a line of tablets called Surface in hopes of undercutting Apple's iPad. The version of Surface running on a revamped version of Microsoft's Windows operating system fared so poorly that the company absorbed a $900 million charge in its last quarter to account for the flop.

18.39 | 0 komentar | Read More