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Committee to tackle wage equity

Written By Unknown on Rabu, 01 April 2015 | 18.38

A new advisory committee tackling wage equality in Massachusetts can expect to encounter two types of CEOs: those whose hearts are in the right place, but have to be shown how to implement it, and those who must be convinced it's of value to their companies as well as society.

That's according to James Roosevelt Jr., CEO of Tufts Health Plan, one of 16 members of the committee formed by state Treasurer Deborah B. Goldberg to follow through on one of her campaign planks.

"There are CEOs for whom this is not at the top of their lists when they think about how to show value to their customers and how they differentiate their products from their competitors," Roosevelt said. "You have to have the commitment from the top of the organization that ... every factor that goes into what people are paid — men and women — will be approached with the requirement that there be true equality. It's like any other major management issue. The CEO has to be sure that his or her management team applies that principle in every hiring decision, in every promotion and every salary-setting decision."

White women in Massachusetts earn 82 cents for every $1 earned by a man, according to Goldberg. African-American women earn 61 cents, and Latina women earn 50 cents.

"Pay equity is not a partisan issue, nor solely a women's issue," Goldberg said in a statement. "It is a family issue, and it affects the economic health and well-being of our entire state."

The committee will focus on providing government agencies with tools to review their pay structures; creating a wage equality tool kit for businesses; organizing roundtables to field business input on how a public-private partnership can work; and launching a state-run equal pay website for employers and employees.


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Chamber taps James Rooney as CEO

A nationwide search for the next CEO of the Greater Boston Chamber of Commerce led to its own backyard: James Rooney, executive director of the Massachusetts Convention Center Authority since 2003, was selected yesterday to lead the business group effective July 1.

The South Boston native will succeed CEO Paul Guzzi, who announced his retirement in September after leading the chamber since 1996.

"Jim Rooney was the most strategic thinker of all the candidates and presented the clearest, most ambitious, thoughtful and sophisticated plan for the chamber," Hill Holliday CEO Karen Kaplan, who co-led the chamber's search committee, said in a statement. "With a proven track record and an openness to change, the selection committee unanimously agreed that he is the best candidate to deliver that vision."

Rooney has been leading the MCCA's push for a controversial $1 billion expansion of the Boston Convention & Exhibition Center, but Gov. Charlie Baker has put the brakes on the funding as he weighs how to deal with a crushing budget deficit. Rooney's selection as chamber head could throw another roadblock at the MCCA's expansion plans.

Rooney said his vision for the chamber includes embracing the innovation and technology that are transforming every business and industry in the global economy, as well as the dramatic workplace shift from baby boomers to millennials and the changing racial profile of people participating in the labor force and creating businesses.

"That means having strategies for figuring out what do your members want, what do your potential members want?" Rooney said. "It also means understanding what kinds of issues around us are affecting the conduct of business in Boston. That leads me to ... wanting to create a data-rich analytical capability at the chamber that allows us to lead in those transformations, not just adjust."

Rooney previously was chief of staff to former Mayor Thomas M. Menino. He also worked for 18 years at the MBTA, where he became deputy general manager, and held senior posts with the Massachusetts Turnpike Authority and Central Artery Project.

He was the unanimous choice among four finalists — three from Boston — of the chamber's search committee, executive committee and board. He signed a three-year contract, with $370,000 in annual pay and up to $55,000 in annual bonuses.

Guzzi had a $407,730 salary in 2013 — the most recent year available — with additional deferred compensation and a 401(k) match of $101,000.


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Discount Chromebooks spur laptop war

The release of Google's cheapest Chromebook laptops yet — two versions priced at $149 each — is good news for students, and the cost will likely go even lower in the company's ongoing price war with Microsoft, analysts said.

"It really is excellent news for kids and for education," said Brad Reback of Stifel Nicolaus and Company in Atlanta. "You can now put computing power into the hands of many more kids. And (the price) will go lower. Google will continue to push pricing down to put pressure on Microsoft."

The newest versions of the Chromebook that Google announced yesterday are made by Hisense and Haier, PC manufacturers that have been working with Google to design lightweight laptops that run on the Chrome operating system.

Their arrival coincides with Microsoft's rollout of a lower-priced Surface tablet in an effort to reach students and budget-conscious families. Pre-orders for that device began yesterday, too. The cheaper version of the Surface Pro 3 sells for $499, compared with $799 to $1,949 for the higher-end models.

The Chromebooks don't have a hard drive and function as terminals dependent on an Internet connection to get most work done. The Chrome system is set up so users will automatically begin using Google's search engine and other services, such as Gmail and YouTube. Google also has used the Chromebooks as a prod to bring down the prices of all PCs.

"It has been good news for consumers, but not so good for vendors," said International Data Corp. analyst Jay Chou.

Herald wire services contributed to this report.


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The Ticker

Dot proposal could aid ill with housing needs

A 39-unit apartment building that would allow people with multiple sclerosis and other neurological diseases to live independently is being proposed in Dorchester.

The Boston Home Inc., which operates a 96-bed nursing facility serving adults with progressive neurological diseases, hopes to build the mixed-income housing complex on its Dorchester Avenue campus.

The 134-year-old nonprofit is partnering with Boston-based Affirmative Investments Inc. on the $11 million project, which would include 30 units for people — and their families — with significant physical disabilities transitioning from long-term care, and people already living in the community who need additional support.

The goal is to create a national model for independent community living incorporating advanced technology and specialized support services, Boston Home said in documents filed with the Boston Redevelopment Authority.

Backers plead for film tax credit

Supporters of the state's film tax credit packed a State House hearing to argue against Gov. Charlie Baker's proposal to do away with the decade-old tax break for movie and TV production in Massachusetts.

Baker wants to use the money that would be saved to double the state's earned income tax credit that goes to low-income working families.

Secretary of Economic Affairs Jay Ash told the Legislature's Revenue Committee that for each dollar spent on tax incentives for the film industry, the state gets only 13 cents back in revenue. Administration officials also said nearly two-thirds of film production spending wound up in the hands of non-Massachusetts residents or businesses.

But supporters of the tax credit strongly disagreed, telling lawmakers it has helped create thousands of jobs and boost thousands of small businesses around the state.

Quincy clothing retailer J.Jill sold

Quincy-based women's clothing retailer J.Jill said yesterday that it is being acquired by an investment management firm. J.Jill has about 250 stores around the country that sell clothing, shoes and accessories. It is being acquired by TowerBrook Capital Partners L.P. which is buying it from the investment firm Arcapita and private equity firm Golden Gate Capital. Financial terms of the deal, which is expected to close in the second quarter, were not disclosed. TowerBrook owns high-priced denim brand True Religion and previously owned the high-end Jimmy Choo shoe company before selling it off in 2011.

TODAY

 Institute for Supply Management releases its manufacturing index for March.

 Commerce Department releases construction spending for February.

 Automakers release vehicle sales for March.

THE SHUFFLE

Cambridge-based GNS Healthcare, a provider of analytics solutions for matching health interventions to individuals, announced that Tom McNamara has joined the company as chief revenue officer. McNamara will shape the GNS sales organization to serve an expanding roster of clients, including health plans, health care providers, biopharmaceutical companies and foundations.


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Keolis trumpets return, silent on fine payments

Written By Unknown on Selasa, 31 Maret 2015 | 18.38

The head of commuter rail operator Keolis yesterday ducked questions about whether his company will pay its fines for its delays and cancelled service this winter, letting MBTA General Manager Frank DePaola answer for him at a press event announcing the full restoration of service.

Asked whether the company would pay for its dismal record, Keolis General Manager Gerald C. Francis deferred to DePaola, who said the T is "working with Keolis to assess what's happened over the last couple of months." Keolis has racked up more than 
$3 million in fines since its "no excuses" contract started in July, including nearly $2 million for winter failures. The company has argued that the weather is beyond its control.

"There were extreme weather conditions, so we have to take that all into consideration," DePaola said. "Now that service is back, we need to meet internally and decide what the contract ramifications are."

The state Department of Transportation board approved a plan to provide a free day of service on the T — including commuter rail, buses and boats — for April 24, he added, and a 15 percent discount for weekly or monthly pass holders on their May passes. The commuter rail also is replacing single-level coaches with bi-level ones to ease crowding.

None of that satisfied Angelica Martinez, a South Shore commuter who said Keolis made her late to her paralegal job for an entire month, forcing her to make up the time in her lunch hour.

"Of course (Keolis) should pay a fine," said Martinez, 40. "I want a full month (free) to make up for that lost month."


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The Ticker

BU business school gets $50M gift from graduate

Boston University received $50 million, its largest gift ever, for its management school from retailing executive Allen Questrom and his wife, Kelli. The renamed Questrom School of Business will use the donation to endow 10 faculty positions and help pay for added facilities for the graduate program, the university said. Questrom, 74, who earned a bachelor's degree from BU in 1964 and is a trustee, has led retailers including Barneys New York Inc., J.C. Penney Co., Federated Department Stores and Neiman Marcus. He is currently a senior adviser to Lee Equity Partners LLC, a New York private equity firm.

McDonald's to test all-day breakfast

McDonald's Corp. will experiment with serving breakfast all day at some San Diego-area locations as CEO Steve Easterbrook seeks to pull the restaurant chain out of a U.S. sales slump.

The test, slated to begin next month, will keep hash browns, Egg McMuffins and other sandwiches on the menu beyond the standard breakfast hours. McDonald's is the fast-food breakfast leader, and the morning menu accounts for about 25 percent of its business. As more Americans eat breakfast away from home, competitors such as Taco Bell and Starbucks have tried to take market share from McDonald's with expanded offerings.

Woman denies defrauding One Fund

A Boston woman has pleaded not guilty to fraudulently receiving thousands of dollars by claiming she was injured in the Boston Marathon bombings.

Joanna Leigh was arraigned yesterday on charges of larceny and making a false claim to a government agency. She was released without bail and ordered to surrender her passport and not travel outside New England or New York. Her attorney said she's "a very fragile person."

Prosecutors say Leigh got $8,000 from The One Fund victims' charity; $18,000 from a state victims' compensation fund; $9,000 from an online fundraiser; and $1,700 raised by Boston school students.

Authorities say she was at the April 2013 marathon but wasn't hurt. Leigh, 41, says she suffered traumatic brain injuries, and the charges are retaliation for her criticism of The One Fund for not helping people with brain injuries.

TODAY

 Standard & Poor's releases S&P/Case-Shiller index of home prices for January.

 Conference Board releases the Consumer Confidence Index for March.

TOMORROW

 Institute for Supply Management releases its manufacturing index for March.

 Commerce Department releases construction spending for February.

 Automakers release vehicle sales for March.

THE SHUFFLE

North Andover-based Watts Water Technologies has named Todd A. Trapp as its chief financial officer, effective April 9. Trapp most recently was vice president of financial planning and analysis at Honeywell International Inc., where he was responsible for leading the annual strategic planning processes for the $40 billion conglomerate. Prior to his 12-year Honeywell career, he held several treasury and finance operational roles at United Business Media Inc. and Pearson Inc.


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Jay Z launches Tidal streaming-music service at star-studded event

Music impresario Jay Z has launched Tidal -- positioned as an ad-free, high-quality streaming-music subscription service priced starting at $10 per month -- with the participation of numerous big-name artists including Alicia Keys, Beyonce (who is married to Jay Z), Chris Martin of Coldplay, Usher, Nicki Minaj, Rihanna, Kanye West and Madonna.

Jay Z, the stage name of Shawn Carter, in January acquired Sweden-based Aspiro for $56 million. The artists announced onstage at the New York event Monday were introduced as co-owners of the company, representing the first artist-owned digital-music service -- a salvo lobbed against companies like Spotify and Pandora.

"Our goal is simple: We want to create a better service and a better experience for both fans and artitsts," Alicia Keys said at the event. "We believe that it is in everyone's interests -- fans, artists and the industry as a whole -- to preserve the value of music, and to ensure a healthy and robust industry for years to come."

Tidal's mobile launch partner is Sprint. Other artists participating in the service include Arcade Fire, Calvin Harris, Daft Punk, Jack White (formerly of the White Stripes) and Deadmau5.

The Tidal service will compete with other subscription-music services including Spotify and Apple's forthcoming music-streaming service, based on its acquisition of Beats Music, which is expected to launch this summer.

Tidal will not offer a free version of the service; the standard-audio version (Tidal Premium) will be $9.99 per month and the high-def audio version (Tidal HiFi) will be $19.99 per month. Both tiers are free to try out for 30 days, according to the company.

Tidal says it provides a library of more than 25 million tracks, 75,000 music videos and curated editorial articles. The service is available across iOS and Android devices, as well as in Web browsers and desktop players, available in the U.S. and 30 other countries at launch. Tidal provides streaming quality at more than four times the bit rate of competitive services, according to the startup.

© 2015 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Harman buying Bang & Olufsen Automotive audio business

NEW YORK — The audio and electronic systems company Harman International Industries Inc. will buy Bang & Olufsen Automotive for about $157.3 million.

Bang & Olufsen makes sound systems, which are available in high-end luxury cars including Audi, Aston Martin, BMW and Mercedes-Benz car models. Stamford, Connecticut-based Harman brands are in more than 25 million cars and include AKG, Harman/Kardon, Infinity, JBL, Logic 7, Mark Levinson, Lexicon, Revel, Selenium, and yurbuds.

In January, Harman reported-better-than-expected quarterly financial results as it continues to benefit from an industry trend toward cars that provide users with Internet-connected audio and entertainment options. The company expects demand will remain strong and forecast profit of $5.85 per share for the fiscal year through June on revenue of $6 billion.

The Bang & Olufsen deal includes a purchase price of 145 million euros, or about $157.3 million, as well as license payments for an exclusive license to the Bang & Olufsen and B&O PLAY brands within the automotive industry.

"Bang & Olufsen is a distinctive brand that will complement our existing premium branded offerings and strengthen HARMAN's position in this segment," said Harman President and CEO Dinesh C. Paliwal, in a statement.

Harman will assume all Bang & Olufsen Automotive customer programs, and all Bang & Olufsen Automotive development and production resources will be transferred to Harman.


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Lincoln Continental, the car of presidents, is returning

Written By Unknown on Senin, 30 Maret 2015 | 18.38

DEARBORN, Mich. — Elvis Presley had one; so did Clark Gable. It was even the sedan of presidents. Then the name vanished amid an invasion of newer luxury cars from Europe and Asia.

Now, the Lincoln Continental is back.

Thirteen years after the last Continental rolled off the assembly line, Ford Motor Co. is resurrecting its storied nameplate. The new Continental debuts in concept form at this week's New York auto show. The production version of the full-size sedan goes on sale next year.

After more than a decade of toying with alphabetical names like LS and MKS to be more like its foreign rivals, Ford's 98-year-old Lincoln brand is embracing its heritage. It's a measure of the growing confidence at Lincoln, which is finally turning around a decades-long sales decline. And it's a nod to the importance of China, where customers know the Continental name and appreciate brands with a rich history.

Ford CEO Mark Fields says the Continental always represented the best of Lincoln. Resurrecting it sets higher expectations, both within the company and outside of it.

"When we get a chance to work on an iconic nameplate like that, it's a mixture of pride and a mixture of fear, because when you put that name out there, it's got to deliver," Fields told The Associated Press in a recent interview.

The Continental was born in 1938, when Henry Ford's son Edsel commissioned a convertible he could use on his spring vacation. Thrilled by the reception he got as he drove the elegant sedan around Palm Beach, Edsel made the Continental part of Lincoln's lineup.

The Continental soon became the pinnacle of American luxury. Warner Brothers gave Elizabeth Taylor a 1956 Continental with a custom paint color to match her eyes. A darker historical note: John F. Kennedy was riding in the back of a 1961 Continental convertible when he was assassinated in Dallas.

Continental sales peaked in 1990 at 62,732. But after that, Lincoln's sales began slipping.

Ford had acquired other luxury brands such as Jaguar and Volvo. Lincoln's designs got dull and failed to stand out from lower-priced Fords. The Continental was also squeezed by competition from the midsize Lincoln LS, which debuted in 2000, and the bigger Town Car.

Ford also underestimated the threat posed by German rivals, who were expanding their lineups, and newer Japanese luxury brands. By 2000, Lexus was the top-selling luxury brand in the U.S.; last year, BMW was.

To make its way back, Lincoln isn't trying isn't trying to be sporty like BMW or showy like Cadillac. Instead, Fields says, it wants to give drivers an experience that is elegant and serene.

"We want folks to get into our vehicles and — for lack of a better term — chill," Fields said.

It appears to be working. Lincoln's U.S. sales rose 16 percent last year, making it one of the fastest-growing luxury brands in the market. The midsize MKZ was the brand's top seller.

Full-size sedans like the Continental are a tough sell in the U.S., where buyers tend to prefer midsize sedans or SUVs. U.S. sales of Lincoln's current full-size sedan, the MKS, fell 24 percent last year.

But globally, the segment is growing, Fields says. Ford has high hopes for the Lincoln brand in China, where it's opening dazzling new dealerships complete with waterfalls. Ford began selling Lincolns in China late last year, and the company will open more than 20 dealerships there this year.

The concept car being unveiled Monday in New York is painted a deep Prussian blue, an homage to Continentals of the 1950s and 1960s. But there are few other references to its history.

Lincoln's split-wing grille, a feature that dates to the 1940s, has been replaced by a tight, rectangular mesh grille, its shiny chrome patterned with tiny versions of Lincoln's rectangular logo. The sides are smooth; even the door handles are hidden within a narrow strip of chrome at the beltline.

The concept is a technology showcase. The driver's seat has a patented split cushion, so if the driver holds one leg out further than another, it will support each leg separately. The moonroof glass turns opaque with the touch of a button. Another button automatically moves the front passenger seat forward and fully reclines the rear passenger seat. That's another nod to China, where luxury car owners often have their own drivers.

Under the hood is a 3-liter V6 EcoBoost engine that's unique to Lincoln. Ford isn't yet revealing more details, like whether the car is front- or rear-wheel drive. The Continental switched to a front-wheel-drive sedan in the 1980s, but many of its current competitors — the Infiniti Q70, Mercedes Benz S-Class and Lexus LS — are rear-wheel drive.

The Continental is expected to replace the seven-year-old MKS, which currently sits atop Lincoln's car lineup.


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Autodesk headed to Boston

Silicon Valley software design giant Autodesk is moving into Boston, and will open up its new Seaport District office to startups and researchers, focused on the construction industry's innovation needs.

"The Seaport area for us is a perfect location because of the creative activity that's going on right now," said Autodesk spokesman Paul Sullivan. "We really wanted to be in the heart of the academic community."

Autodesk and Mayor Martin J. Walsh will formally announce the move today.

"We're going to make sure we signal this is really important to the city," said John Barros, chief of economic development for Boston. "We want to try to bring (companies) back into the city and (Autodesk) symbolizes an important company coming in and saying to other companies, 'You should come to Boston.' "

Barros said a company such as Autodesk represents the kind of business the city is hoping to attract and retain.

"This is the kind of company we want, these are the kind of jobs we want. This is perfect," Barros said. "This is a company that's at the nexus of Boston's innovation economy and manufacturing, this is advanced manufacturing, this is exactly where we think the sweet spot is."

Autodesk, which makes design software, will move about 175 jobs to the new office at 23 Drydock Ave. from its current office in Waltham. The new office will span 70,000 square feet across three floors at the Boston Design Center, with an option to expand an additional 50,000 square feet. Autodesk plans to move in later this year.

The space will also include a "Building Innovation Learning & Design" space, complete with tools including laser scanners, robots and robotic manipulators, large-scale 3-D printers and water-jets.

"This particular facility is going to be focused more on our building and construction industry," Sullivan said. Autodesk makes a suite of software for architects and building engineers.

The company will also expand its startup in residence program, bringing in companies that fit with Autodesk.

"We're going to be looking around Boston for different creative minds that are out there looking to do great things but they need a little bit of help, they need a little space, they need a little technology," he said. The program has about seven companies right now.

Autodesk plans to start a similar program for researchers.

The company has strengthened its Boston connections recently, including acquiring local Web- and app-development company Terrible Labs and working with connected-office company Robin and 3-D printing company Voxel8.

City Hall has put emphasis on keeping technology companies in the city as well as attracting new companies. Late last year, LogMeIn received a tax break to expand its headquarters and stay in Boston. Autodesk is not receiving any tax incentives for the move to the city.


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