Nokia Lumia 920 brightest light for Windows phones

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

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

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

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

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

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

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

22.26 | 0 komentar | Read More

Crowd-funding finds way to real estate financing

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

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

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

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

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

Now, the real estate industry is an increasing focus.

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

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

Yet that is not the premise of locally grown Collaperty.

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

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

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

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

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

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

22.26 | 0 komentar | Read More

J.C. Penney CEO tries to change the way we shop

NEW YORK — J.C. Penney CEO Ron Johnson seems unfazed that the department store chain's mounting losses and sales declines have led to growing criticism of his plan to change the way we shop. Perhaps that's because this isn't the first time during Johnson's 30-year career that he's attempted what seemed impossible.

People predicted he'd fail at selling high-end housewares and designer dresses at discounter Target, but shoppers still flock there years later for cheap chic goods. Likewise, almost no one believed that the Apple stores he designed to sell the consumer electronics giant's gadgets would make money. Yet Apple's retail operations have become the most profitable in the industry.

At the time, both decisions seemed radical. Now, they each are viewed as strokes of genius.

But Johnson's latest gamble is shaping up to be his biggest. He's not only aiming to reverse the fortunes of Penney, a 110-year-old chain that has had sales declines in four of the past five years as it's struggled to adapt to changing consumer tastes and shopping habits. He's also attempting to do something no other retailer has before: reinvent the department store from the ground up.

Since leaving Apple to become Penney's CEO in November, Johnson has been overhauling everything from the retailer's pricing to its merchandise to its stores. He got rid of most sales. He's brought in hip brands. And he's replacing rows of clothing racks with small shops that make the stores feel like outdoor mini malls.

But since Penney started the changes, the chain has reported three consecutive quarters of big losses on steep sales declines. Its stock has lost more than half its value. Its credit rating is in junk status. And critics are beginning to doubt that Johnson has what it takes to make the chain cool.

"He's trying to start a retail revolution without an army of consumers behind him," says Burt Flickinger, III, president of a retail consultancy. "Penney will suffer dire financial and competitive circumstances as a result."

But Johnson, 53, a Midwest native who speaks about his vision for J.C. Penney Co. with boyish enthusiasm, is undeterred: "Lots of people think we're crazy. But that's what it takes to get ahead."

THE BEGINNINGS: 'NO MORE JUMPING THROUGH HOOPS'

Virtually no one questioned Johnson's savvy when it was announced in June 2011 that he was leaving his role as Apple Inc.'s senior vice president of retail to take over the top job at Penney, a chain that had gained a reputation in recent years of having un-hip, boring stores and merchandise. To the contrary there were lofty expectations for the man who had made Apple's stores hip places to shop and before that, pioneered Target Corp.'s successful "cheap chic" strategy.

Johnson, who says that his biggest inspirations in life are "sunrises" and "smiles," spent several months before becoming Penney's CEO traipsing across the globe to find ideas on how to transform the company. On the itinerary: meetings with executives at trendy retailers and designers such as Gap, J. Crew, Diane Von Furstenberg and Ralph Lauren.

During these trips, Johnson hatched an idea to make Penney stores appealing not only to its core of middle-income shoppers, but also to new groups of younger and higher-income customers. Johnson decided to focus on three areas: price, merchandise and the stores.

Johnson started as Penney's CEO in November 2011. In his first couple of months in the role, Johnson hired big-name executives that he trusted. Among them, Michael Francis, a top Target executive that he'd met while he worked there, was brought in as president to help redefine Penney's brand.

Johnson's boldest move came on Feb. 1 of this year when he rolled out new pricing in Penney's 1,100 stores. That's virtually unheard of in retail, where significant changes are typically tested in a few locations for several months before being rolled out nationally.

Johnson says that Penney didn't have several months to waste. Testing would've been "impossible," he says, because Penney needed quick results.

Johnson's plan was designed to wean customers off the markdowns they'd become accustomed to, but that eat into profits. He ditched the nearly 600 sales Penney offered throughout the year for a three-tiered strategy that permanently lowered prices on all items in the store by 40 percent, and offered monthlong sales on select items and periodic clearance events throughout the year.

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

22.26 | 0 komentar | Read More

J.C. Penney's journey from 1 store to 1,100

NEW YORK — A look at J.C. Penney's milestones:

—1902: James Cash Penney, son of a Baptist preacher and farmer, opens The Golden Rule, a dry goods and clothing store in Kemmerer, Wyoming. The name was based on his guiding principle of building a business through serving the community with fair dealing and honest value.

—1913: Incorporated in Utah as the J.C. Penney Co. Inc. and the Golden Rule name was phased out.

—1914: Headquarters moves from Salt Lake City, Utah, to New York City.

—1929: Begins selling shares as a publicly traded company.

—1951: Store sales exceed $1 billion for the first time.

—1963: Issues its first catalog.

—1971: James Cash Penney dies at age 95.

—1972: Launches first national television.

—1979: Catalog sales pass $1 billion for the first time.

—1992: Headquarters moves to Plano, Tex.

—1994: Launches jcpenney.com, its online store.

—2005: Penney's e-commerce business surpasses $1 billion in sales.

—2009: Opens its first store in Manhattan.

—2010: Becomes the exclusive retailer of Liz Claiborne and Claiborne in the U.S. and Puerto Rico. Exits catalog business. Introduces mobile coupons.

—2011: Ron Johnson, a former Apple executive, becomes CEO.

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

22.26 | 0 komentar | Read More

Old is new again at historic Lewis Wharf

This duplex condo on the top two floors of Lewis Wharf has been rehabbed into a contemporary-looking condo that works well in this historic brick-and-beam 1830s building.

Unit 517-617 combines two units, with the lower floor opened up to create a large dining/living space with 11-foot beam ceilings, brick walls and sliding-glass doors with views of Boston Harbor. Wide-pine hardwood floors have been added and a new maple and granite kitchen has a matching beverage bar in the dining area.

This 1,658-square-foot condo has three bedrooms, plus a study that could be a fourth bedroom. It's on the market for $1,599,000.

The venerable gray granite Lewis Wharf building, once a shipping warehouse, has 95 condos, and features a 24/7 concierge, a rose garden and a seasonal heated pool at the harbor's edge. Its four residential floors have carpeted hallways with sconce lights and original gray granite lintels.

The unit opens into a large brick-walled dining/living area with two closets off to one side, one for coats and the other to serve as a pantry. The dining area, framed by a nicely redone staircase to the top floor, has a built-in beverage bar with gray granite counters and a small refrigerator and wine cooler. Overhead is a stunning contemporary light fixture hanging from the 11-foot beam ceilings.

Straight ahead is the living room with overhead pendant lighting, a granite-backed media built-in and glass doors out to a balcony with harbor views.

To the left of the dining area is a recessed-lit galley kitchen entirely redone in 2009 with 25 maple cabinets, gray granite counters, a beige ceramic tile floor and Maytag stainless-steel appliances.

Off the living room is a bedroom with pine floors and a double-mirrored door closet. The adjacent full bathroom was redone three years ago with beige ceramic tile floors and walls for a combination tub and shower. There's a linen closet and a white Carrara marble-topped vanity.

A staircase leads to the two bedrooms and study on the second floor, all with 10-foot beam ceilings. At the top of the landing is a den/media room with contemporary lighting, two large closets, one outfitted for an in-unit washer/dryer hookup, which the condo board has recently approved.

The master bedroom has a high-end contemporary overhead light fixture, brick walls, pine floors, two large closets and two floor-to-ceiling windows with harbor views.

The second bedroom has one window with harbor views and a double-door mirrored closet.

The bathroom for these bedrooms was redone three years ago, and features beige ceramic tile floors and walls for a tub and shower, a linen closet and white Carrara marble-topped vanity.

There's also a study without a closet that could be used for a fourth bedroom, if needed.

There's a public laundry room with great city views on the sixth floor of the building, and on-site parking is $250 a month.

For more information or to see this property, call Carmela Laurella of CL Waterfront Properties at 617-624-9700.

22.26 | 0 komentar | Read More

Bay State logs in super servers

Amid a worldwide push to make energy-eating data centers more efficient, a new environmentally friendly computing facility backed by the state officially opens for business today.

The Massachustts Green High Performance Computing Center is a 90,000-square-foot, $90 million server warehouse located in Holyoke. It has a total power capacity of 15 Megawatts, with more than 70 percent of its electricity supply generated by hydroelectric power.

For university researchers throughout the Bay State, the center will supply new, badly needed computing capacity for large-scale data projects such as human genome analysis and climate modeling.

Constructed in partnership with colleges including Boston University, Harvard University, MIT, the University of Massachusetts and Northeastern University, as well as EMC Corp. and Cisco, the center will host Gov. Deval Patrick and other dignitaries at its unveiling this afternoon.

"This landmark project is a testament to what is possible when government, academia and business work together," Patrick said. "And it will serve as an economic development model for the state and the nation for generations to come."

Academic researchers will begin moving their servers into the facility in the coming weeks.

Among them is a group of four scientists who recently won a $2.3 million grant to support research in areas including life sciences, genetics, weather modeling, geosciences and engineering.

"It's really a resource for the broad campus community," said UMass Amherst computer science researcher Prashant Shenoy, one of the grant recipients. "Our intent is to have a way for all our campuses to benefit from and use this cluster, which we think of as an academic cloud."

The center, which generated 400 construction jobs, marks the latest effort by the Patrick administration to boost the economies of long-neglected towns in western Massachusetts.

22.26 | 0 komentar | Read More

Oil prices steady as traders eye Mideast conflict

The price of oil swung between slight gains and losses above $85 a barrel on Friday as investors monitored fighting between Israel and militants in Gaza and its potential impact on supplies, which so far remain ample.

By early afternoon in Europe, benchmark oil for December delivery was up 25 cents to $85.70 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped by 87 cents to finish at $85.45 per barrel in New York on Thursday.

Some investors fear that oil supplies could be disrupted if the Israel-Hamas conflict grows to destabilize the Middle East, a huge producer of crude. But the impact of those concerns was offset mostly by signs that global economy is struggling, meaning demand is weak, and that supplies are still high, particularly in the U.S.

"Any sustained rally in prices is likely to be capped by its downside impact on demand whilst economic growth remains as is," said a report from analysts at Sucden Financial Research in London.

On Thursday, the U.S. government reported a rise in U.S. jobless claims, as Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months.

At the same time, the U.S. Energy Information Administration said crude oil supplies grew by 1.1 million barrels last week to 375.9 million barrels. That's 11.6 percent above year-ago levels.

"Unemployment remains high and economic growth has been extremely modest. Petroleum demand is reflecting that," said American Petroleum Institute chief economist John Felmy.

Gains by the dollar also kept oil prices from rising too much by making crude more expensive for traders using other currencies. On Friday, the euro was down to $1.2743 from $1.2781 late Thursday in New York.

Meanwhile, Brent crude, used to price many kinds of international oil, was up 46 cents to $108.47 per barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

— Heating oil rose 0.42 cent to $2.9777 per gallon.

— Wholesale gasoline added 0.26 cent to $2.6638 per gallon.

— Natural gas was down 1.7 cents to $3.686 per 1,000 cubic feet.

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

22.26 | 0 komentar | Read More

AG pushes energy reform at retail confab

State Attorney General Martha Coakley would like to see the state tackle energy in the same way it's approaching health care reform.

Energy, like health care, is a major cost-driver for small businesses, Coakley said in a keynote address at the Retailers Association of Massachusetts' Awards of Excellence luncheon at Bentley University in Waltham yesterday.

"If it's not kept under control, if it's not contained, it's one of those costs that breaks the camel's back," Coakley said.

Coakley, who noted she's been sounding the alarm in the past few months about the need for cost-effective energy, said her attendance at a recent national conference showed that the stakeholders in the energy debate — the energy industry, legislators and retailers — "aren't that far apart."

22.26 | 0 komentar | Read More

Ikea regrets use of forced labor in East Germany

BERLIN — Swedish furniture giant Ikea expressed regret Friday that it benefited from the use of forced prison labor by some of its suppliers in communist East Germany more than two decades ago.

The company released an independent report showing that East German prisoners, among them many political dissidents, were involved in the manufacture of goods that were supplied to Ikea 25 to 30 years ago. The report concluded that Ikea managers were aware of the possibility that prisoners would be used in the manufacture of its products and took some measures to prevent this, but they were insufficient.

"We deeply regret that this could happen," said Jeanette Skjelmose, an Ikea manager. "The use of political prisoners for manufacturing was at no point accepted by IKEA."

But she added that "at the time we didn't have the well-developed control system that we have today and we clearly did too little to prevent such production methods."

Ikea commissioned auditors Ernst & Young to look into allegations aired by a Swedish television documentary in June, but first raised by a human rights group in 1982.

Rainer Wagner, chairman of the victims' group UOKG, said Ikea was just one of many companies that benefited from the use of forced prison labor in East Germany from the 1960s to 1980s.

"Ikea is only the tip of the iceberg," he told The Associated Press in an interview earlier this week.

Wagner said he hoped that Ikea and others would consider compensating former prisoners, many of whom carry psychological and physical scars from arduous labor they were forced to do.

"Ikea has taken the lead on this, for which we are very grateful," he told a news conference in Berlin, where the findings of the report were presented.

Peter Betzel, the head of Ikea Germany, said the company would continue to support efforts to investigate the use of prisoners in East Germany in future.

Today, he said, "we can exclude with almost 100 percent certainty that such things as happened in East Germany happen elsewhere."

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

22.26 | 0 komentar | Read More

US industrial production drops 0.4 percent

WASHINGTON — Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses.

The Federal Reserve says industrial output fell 0.4 percent last month, after a 0.2 percent gain in September. Excluding the storm's impact, production at the nation's factories, mines and utilities would have been up about 0.6 percent.

Factory output, the most important component, fell 0.9 percent. It would have been unchanged without the storm. Machinery production fell 1.9 percent, while production of electrical equipment, appliances and components declined 1.4 percent.

Manufacturing has weakened since spring, partly because companies have scaled back purchases of equipment and machinery. Many are worried about tax increases and federal spending cuts that take effect in January unless Congress reaches a budget deal.

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

22.26 | 0 komentar | Read More

Post office reports record loss of $15.9B for year

WASHINGTON — The struggling U.S. Postal Service is reporting a record annual loss of $15.9 billion.

The financial losses for the fiscal year ending Sept. 30 were nearly $11 billion more than the previous year.

The numbers cap a tumultuous financial year in which the post office was forced for the first time to default on more than $11 billion in payments to avert bankruptcy.

The mail agency for months has been urging Congress to pass an overhaul bill to let it trim letter delivery to five days a week and reduce annual payments for future retiree health care.

Postmaster General Patrick Donahoe says the large losses cannot be sustained.

The mail agency forecasts billions in additional losses next year as it awaits financial relief from Congress.

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

22.26 | 0 komentar | Read More

RIM offers free voice calls over Wi-Fi with BBM

TORONTO — BlackBerry users will be able to make free voice calls over a Wi-Fi network using the popular BBM messaging service.

Research In Motion Ltd. announced Wednesday that it's adding the feature to BBM. Users will be able to switch back and forth from a text chat to a voice call. A split-screen option will let them talk and text at the same time.

The new feature is a free update for existing customers and comes months before RIM introduces its new BlackBerry 10 smartphones, which are seen critical to RIM's survival.

RIM surprised analysts in September when it announced that the number of BlackBerry subscribers grew, thanks in part to emerging markets and its popular BBM service. It's struggling in North America as customers migrate to flashier iPhones and Android phone.

RIM stopped short of offering the BBM voice feature over wireless carriers' own cellular networks. Doing so would have potentially created more congestion on cellular data networks and deprive carriers of revenue for voice calls. With the new feature, the free calls are limited to times and places where Wi-Fi is available.

The Canadian company said the BBM voice feature is especially attractive for developing markets. Unlike regular texts, BBM messages are not charged on a per-text basis.

Although RIM is struggling in North America, the BlackBerry continues to sell well in such markets as South Africa, Nigeria and Indonesia.

The BBM service has long been a reason for BlackBerry users to not defect to other smartphones but there are rival messaging services. There are more than 60 million BBM users worldwide.

RIM said the BBM voice update is currently available for BlackBerry smartphones running the BlackBerry 6 operating system or higher, with plans for BlackBerry 5 later. RIM's latest phones run the 7 operating system. The next version, BlackBerry 10, will come soon after a Jan. 30 launch event.

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

22.26 | 0 komentar | Read More

Massachusetts adds 7,900 jobs in October; unemployment rises to 6.6 percent

Massachusetts added 7,900 jobs in October even as the unemployment rate ticked up to 6.6 percent, a slight increase from September's 6.5 percent, according to the Bureau of Labor Statistics.

The monthly labor report also included a revised gain of 2,700 jobs in September. Because the data is preliminary, it is often revised with each new report. Also, because the unemployment rate and the number of jobs created are based on two separate surveys, it's not uncommon for the two statistics to move in opposite directions.

The state unemployment rate is down 0.5 percent from the October 2011 rate of 7.1 percent.

Massachusetts has created 43,300 jobs so far this year, with 42,400 of them in the private sector.

22.26 | 0 komentar | Read More

McDonald's replaces head of US operations

NEW YORK — McDonald's Corp. is replacing the head of its U.S. operations after the world's biggest hamburger chain reported its first monthly sales decline in nearly a decade.

The company, based in Oak Brook, Ill., says its global chief restaurant officer, Jeff Stratton, will succeed Jan Fields as president of McDonald's USA effective Dec. 1.

Fields, 57, is leaving after more than 35 years with the company. She was behind many major menu innovations, including the expansion of the specialty drinks menu.

After years of outperforming its rivals, McDonald's has struggled recently amid intensifying competition at home and a persistently weak economy abroad. In October, the company reported its first monthly sales decline since 2003.

McDonald's has more than 34,000 locations around the world, with about 14,000 in the U.S.

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

22.26 | 0 komentar | Read More

Source: Chrysler to add jobs at Detroit plants

DETROIT — A person briefed on the matter says Chrysler plans to add 1,250 jobs at three Detroit-area factories in the near future.

The person says the company plans to invest $238 million at engine plants in Detroit and suburban Trenton, and at a pickup truck factory in Warren, Mich. The person didn't want to be identified because the formal announcement hasn't occurred.

Chrysler CEO Sergio Marchionne is scheduled to make the announcement Thursday morning at the Mack Avenue Engine Plant in Detroit.

Most of the jobs are for a third shift at the Warren truck plant, which will build more Ram pickups.

The hiring is another step in Chrysler's comeback from its 2009 government-funded bankruptcy. The company is now majority-owned by Italian automaker Fiat.

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

22.26 | 0 komentar | Read More

In latest intrusion, Facebook creates relationship profile

The nicest thing you can do for your spouse or significant other right now is to dump them. On Facebook.

The latest sputtering strategy from the post-IPO social network is to treat couples like people. Now not only do users have a profile page, so does their relationship. Want to see what yours looks like? Go to Facebook.com/us. No, you cannot delete the profile for your relationship. There's no opt-out provision. It's there whether you want it or not. An automatic catalog of all your interactions with your plus-one — wall posts, mutual friends and even mutual likes.

The issue is not that Facebook has made these relationship pages possible, it's that they're involuntary, marking the latest intrusion by a network that is increasingly hostile toward personal boundaries. Although users are allegedly able to edit these profiles, I found it impossible to change the cover photo of my husband and me arbitrarily chosen for the relationship page.

Let's set aside for a second the "ick" factor. I dislike cheesiness and detest Valentine's Day. I find these pages equally icky, but such things are a matter of personal taste.

But there's a bigger issue. An estimated 20 percent of Facebook users are between the ages of 13 and 18. Is there any worse message to send to teens than one that says their crushes are so important that we must curate the details online? Now every LOL and OMG and exhibitionist photo shared between hormonal flights of fancy will be showcased to the public (unless by some chance they happen to employ tight privacy settings). It's yet another outlet for teen jealousy, bullying and distractions. Becoming "Facebook official" just got even more complicated.

That's not to say that oversharing is limited to teens. I have an old friend whose on-again, off-again relationship status with his baby momma would seem theatrical to Kim Kardashian. What's more, each time their relationship status changes, people feel the need to offer their pearls of wisdom. And that often will prompt responses, ranging from angry to faux relief, from the principals involved. Now, their kid can one day grow up to view this tawdry back-and-forth immortalized on the Web. Thanks, Facebook.

22.26 | 0 komentar | Read More

New owners for health IT firm Arcadia Solutions

Burlington-based Arcadia Solutions LLC, a provider of data-driven health information technology services, said today it will be acquired by private-equity firm Ferrer Freeman & Co. LLC and Arcadia's senior management team.

Terms of the deal were not disclosed. Based in Greenwich, Conn., Ferrer Freeman & Co. focuses exclusively on growth capital investments in the health-care industry.

Carlos Ferrer, David Freeman and Ted Lundberg of FFC will join Arcadia's board of managers. In addition, Jim Crook, a health-care IT industry veteran who was CEO of IDX Systems when it was sold to GE Healthcare for $1.2 billion, will also join the board.

22.26 | 0 komentar | Read More

People magazine says Channing Tatum is sexiest man

NEW YORK — Channing Tatum is People magazine's "sexiest man alive" for 2012.

The 32-year-old actor says his first thought on hearing the news was: "'Y'all are messing with me.'"

Tatum's film roles include "Magic Mike" and the upcoming "Foxcatcher."

People announced its 2012 list Wednesday.

___

Online:

http://www.people.com/people

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

22.26 | 0 komentar | Read More

AAA: More expected to travel by car this Thanksgiving weekend

A whopping 43.6 million Americans are projected to travel 50 miles or more from home during the Thanksgiving holiday weekend, a 0.7 percent increase from last year and the fourth consecutive annual uptick, according to AAA Southern New England.

While holiday air travel is expected to decline to 3.14 million travelers this year from 3.2 million last year, 39.1 million will travel by automobile, an increase of 0.6 percent, AAA said.

Median spending is expected to drop 10 percent to $498, compared to $554 last year as Americans continue to prioritize travel while finding ways to economize, AAA said, adding the average distance traveled will drop to 588 miles from 706 miles, due in part to a decrease in the number of air travelers and Americans' desire to economize budgets.

The Thanksgiving holiday travel period is defined as Wednesday, Nov. 21, to Sunday, Nov. 25. AAA said its projections are based on economic forecasting and research by Colorado-based business information provider IHS Global Insight.

22.26 | 0 komentar | Read More

Pending Massachusetts home sales jump in October

The Massachusetts Association of Realtors said today that pending home sales in October had their second biggest year-over-year increase since the organization began tracking this data.

The number of single-family homes put under agreement last month was up 35.9 percent to 4,355, compared to 3,204 for the same period last year. This marks the 18th straight month of year-over-year increases, and the 10th straight month of double-digit year-over-year increases.

On a month-to-month basis, single-family homes put under agreement went up 6.45 percent compared to 4,091 homes put under agreement in September.

Pending sales figures are a leading indicator of actual housing sales in Massachusetts for the following two to three months.

The number of condos put under agreement last month was up 43.5 percent to 1,673 units compared to 1,166 in October 2011, marking the 11th straight month of double-digit year-over-year increases.

22.26 | 0 komentar | Read More

BP, AAR settle all disputes from TNK-BP

LONDON — British oil company BP and its Russian partner AAR say they have settled all disputes between them as both prepare to sell their stakes in their lucrative but contentious joint venture, TNK-BP.

Both have agreed to sell their positions to the Russian state-controlled oil company Rosneft.

BP noted Tuesday that the agreement ends its commitment to give AAR the right of first refusal to join any new ventures in Russia. That provision had killed BP's earlier deal to join with Rosneft in exploring for undersea oil in the Arctic.

Neither side would comment on reports that some cash from BP helped to seal the peace pact.

"This agreement is a win-win for both parties," said AAR Chief Executive Stan Polovets.

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

22.26 | 0 komentar | Read More

German investor confidence drops unexpectedly

BERLIN — German investor confidence slipped unexpectedly this month over worries Europe's largest economy will cool over the next six months, a survey showed Tuesday.

The ZEW institute said its monthly confidence index fell to minus 15.7 points in November from minus 11.5 last month. Economists had expected a third straight monthly increase, albeit only a small one.

ZEW said that this month's drop may be due to disappointing indicators such as poor industrial orders.

Official figures on Thursday are expected to show that Germany's economy grew in the third quarter, though only modestly. Many economists think it may slacken further over the winter months.

Germany enjoyed robust growth over the past two years but the debt crisis that has pushed several European countries into recession is hitting confidence as well as exports.

"Prevailing recessionary developments in the eurozone impact the German economy via foreign trade and a lack of confidence," ZEW head Wolfgang Franz said. "This is likely to be a burden for economic growth in Germany during the next six months."

The ZEW, or Center for European Economic Research, surveyed 263 analysts between Oct. 29 and Nov. 12.

The German government's panel of independent economic advisers last week forecast that the economy will grow by only 0.8 percent this year and next.

More than half of Germany's exports, a traditional strength of its economy, go to other countries in the 27-nation European Union — but its export performance has been kept buoyant so far by strong demand from Asia, Russia, the United States and elsewhere, which more than offset falling sales to southern European strugglers.

The country's main exporters association, the BGA, predicted Tuesday that total German exports will climb 4 percent this year to a little over €1.1 trillion ($1.4 trillion). Imports, it said, will rise 3 percent to €929 million.

BGA head Anton Boerner said world trade should pick up speed next year so long as protectionist measures in various parts of the world don't get in the way. The group forecast that, as a result, German exports could grow another 5 percent in 2013.

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

22.26 | 0 komentar | Read More

Wilmington lighting plant to close

WILMINGTON -- Company officials say a Wilmington plant that makes fluorescent light fixtures is scheduled to close within the next six to nine months.

Workers at the Lightolier plant were informed of the closure Friday.

Lightolier is a subsidiary of Philips Electronics.

Philips spokeswoman Silvie Casanova tells The Sun of Lowell that because the fixtures made at the Wilmington plant rely on older technologies, the company decided to phase out that facility.

She says it has not been determined what will happen with the jobs of the nearly 250 employees, many of whom are unionized.

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

22.26 | 0 komentar | Read More

Ahead of the Bell: Microsoft shakeup drags stock

NEW YORK — Microsoft shares slid more than 4 percent before the opening bell Tuesday after the software company revealed that Steven Sinofsky, who oversaw its Windows operations, was leaving.

Sinofsky's departure comes just weeks after Microsoft launched Windows 8, a major overhaul of the operating system that's used on most of the world's computers. The Windows 8 was met with lackluster reviews.

Citi Investment Research analyst Walter Pritchard said he was surprised by the departure, likening it to a football team changing quarterbacks in the middle of the playoffs.

He said he'd assumed that Sinofsky, whose duties will be taken over by two executives, would stay at Microsoft to see through the project — Windows 8 — that he had led.

"The move itself is a surprise since many saw Sinofsky as a possible successor to (Microsoft CEO) Steve Ballmer, although with Windows 8 released the timing isn't," Pritchard said. Sinofsky, he added, had a reputation for a "regimented, inflexible and focused approach to development that pre-dated his Windows tenure."

Shares of Microsoft Corp., based in Redmond, Wash., fell $1.24 to $28.22 in premarket trading.

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

22.26 | 0 komentar | Read More

Home Depot 3Q results edge up, beat Street's view

ATLANTA — A boost from the gradually recovering housing market helped boost Home Depot's net income in its fiscal third quarter.

Home improvement companies have long been under pressure due to the weak housing market, as consumers cut back on large-scale renovation projects. But they stand ready to benefit as evidence mounts that the housing market is slowly improving.

Last week a measure of U.S. home prices reported by real estate data provider CoreLogic climbed the most in six years. And low interest ratings are making it attractive for those that can afford purchases.

New home sales jumped last month to the highest annual pace in the past two and a half years. And while sales of previously occupied homes dipped in September, they have risen steadily in the past year.

Home Depot's CEO said the slowly recovering housing market is reflected in results, although credit availability remains an issue.

"Our third-quarter results were better than we expected and reflected, in part, what we believe is the start of the path toward the healing of the housing market," Chairman and CEO Frank Blake said in a statement on Tuesday.

In a call with analysts, Blake added he sees the housing market becoming "an assist to our growth rather than an anchor."

His statement signaled a "stronger tone" on the housing market than in prior quarters, said NBG Productions analyst Brian S. Sozzi, who called the remarks encouraging.

Home Depot Inc.'s smaller rival Lowe's Cos. reports results on Monday.

For the period ended Oct. 28, Home Depot Inc. reported net income of $947 million, or 63 cents per share. That's up from $934 billion, or 60 cents per share, a year earlier.

Excluding a charge for closing some stores in China, earnings were 74 cents per share.

That topped the 70 cents per share that analysts surveyed by FactSet predicted.

Revenue rose more than 4 percent to $18.13 billion. Wall Street expected $17.92 billion.

Home Depot's stock added $1.21, or 2 percent, to $62.37 in premarket trading.

The Atlanta company posted strong sales in the U.S., with revenue at U.S. locations open at least a year climbing 4.3 percent. For the total company, the figure increased 4.2 percent.

This metric is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

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

22.26 | 0 komentar | Read More

Stocks higher after bruising week

NEW YORK — Stocks are opening higher on this Veterans Day.

Just after the start of trading, the Dow Jones industrial average is up eight points at 12,823. The Standard & Poor's 500 index is up two at 1,382. And the Nasdaq composite index is up 11 at 2,916.

Last week, the market had its biggest sell-off of the year after the re-election of President Barack Obama. Investors are worried about the "fiscal cliff," tax increases and government spending cuts that go into effect Jan. 1 unless Congress acts.

The bond market is closed Monday.

Stocks in Europe are mixed after Greek lawmakers approved a 2013 budget overnight. The head of the finance ministers of the 17 euro countries says lenders have prepared a "positive" report on the country.

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

22.26 | 0 komentar | Read More

Signature brands make comebacks

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

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

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

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

10. Chevrolet Impala

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

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

9. Chevrolet Malibu

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

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

8. Dodge Dart

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

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

7. Chrysler 300

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

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

22.26 | 0 komentar | Read More

Fiat Industrial announces new management structure

MILAN — Capital goods maker Fiat Industrial on Monday announced a new management structure aimed at making it easier to merge with its U.S. subsidiary CNH Global N.V., the agriculture equipment maker.

Fiat Industrial, which makes trucks, agriculture and construction equipment, said it has created a 20-seat Group Executive Council, which will be headed by Chairman Sergio Marchionne and CNH CEO Richard Tobin in the new position of group chief operating officer.

"The new organization announced today represents a key step in the integration of Fiat Industrial and CNH," Marchionne said in a statement.

The structure, which puts emphasis on brands, geography and industrial processes, is similar to a four-region management organization adopted at carmaker Fiat last year to drive integration between Italy's Fiat and the U.S. carmaker Chrysler, which it controls.

CNH advisers have rejected the original terms of the full merger proposed last spring, but Marchionne is working to save the deal. He told analysts recently that it would be more expensive, without elaborating.

Fiat Industrial owns 88 percent of CNH, which is based in the Chicago suburb of Burr Ridge, Illinois, and sells farm and construction equipment under the Case and New Holland brands in 170 countries

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

22.26 | 0 komentar | Read More

Our experts see great returns

Our StoxSmart experts continue to soar.

Of 7,867 U.S. stock funds tracked by Morningstar, the best performer this year is Fairholme, which has returned 32 percent.

John Fish's 42 percent return blows that out of the water and Frank Quaratiello's 22 percent return would rank 14th on the Morningstar list.

Fish's two best picks have been Bank of America (81 percent annualized return) and Synovus Financial Corp. (74 percent).

Quaratiello's stocks are all in positive territory with returns ranging from 11 percent (Clorox) to 41 percent (Apple).

Greg Turner's Vanguard High Dividend Yield Index ETF and Vanguard Total Stock Market ETF have returned 9 and 12 percent, respectively.

Rob Lutts' best pick, EGShares India Infrastructure, has returned more than 22 percent.

The benchmark Standard & Poor's 500 Index is up 9.7 percent this year.

Investors will be looking for signs of agreement this week on budget and tax policy between President Obama and Congress, which returns to Capitol Hill tomorrow. Bond markets are closed today in observance of Veterans Day, but stocks and other markets have normal hours.

TJX reports earnings tomorrow while struggling Staples reports earnings Wednesday. Also watch for a retail sales report and the Federal Open Market Committee's minutes Wednesday.

Thursday's earnings include Wal-Mart, Target and Viacom, plus weekly jobless claims will be out.

22.26 | 0 komentar | Read More

Elmo puppeteer accused of underage relationship

NEW YORK — The puppeteer who performs as Elmo on "Sesame Street" is taking a leave of absence from the popular kids' show following allegations that he had a relationship with a 16-year-old boy.

Sesame Workshop says puppeteer Kevin Clash denies the charges, which were first made in June by the alleged partner, who by then was 23.

In a statement issued Monday, Sesame Workshop said its investigation found the allegation of underage conduct to be unsubstantiated. But it said Clash exercised "poor judgment" and was disciplined for violating company policy regarding Internet usage. It offered no details.

At his request, Clash has been granted a leave of absence in order to "protect his reputation," Sesame Workshop says. No duration for the leave was specified. Clash has voiced and animated Elmo since the 1980s.

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

22.26 | 0 komentar | Read More

The Ticker

Hydroid's sub station

Robotic mini-sub maker Hydroid Inc. will break ground later this week on a new research and manufacturing facility in Pocasset on Cape Cod.

The subsidiary of Norway-based Kongsberg Maritime makes autonomous underwater vehicles for the marine research, defense, hydrographic and offshore energy markets.

Cloud backup Intronis raises $12M

Boston-based Intronis Inc., which offers cloud backup services for information technology providers, said it received $12 million in funding led by new investor Greenspring Associates, with participation from OpenView Venture Partners and the company's executive management team.

Interim CEO Jay Bolgatz said Intronis will use the funding to hire workers, develop its technology and expand its market.

MONDAY

L Bond markets are closed for Veterans Day, but stock markets are open.

TUESDAY

L BG Medicine, Home Depot and TJX Cos. report quarterly financial results.

WEDNESDAY

L The U.S. Commerce Department releases retail sales data for October.

THURSDAY

L Massachusetts releases the unemployment report for October.

L Lt. Gov. Tim Murray speaks at a Greater Boston Chamber of Commerce forum.

L The Boston Redevelopment Authority board meets.

22.26 | 0 komentar | Read More

Extended warranties: Value is a matter of personal choice

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

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

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

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

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

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

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

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

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

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

22.26 | 0 komentar | Read More

Using their heads to combat cancer

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

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

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

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

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

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

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

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

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

22.26 | 0 komentar | Read More

Microsoft hopes to 'break barriers' with translator

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

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

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

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

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

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

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

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

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

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

22.26 | 0 komentar | Read More

Texas firm takes on 2 apartment complexes

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

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

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

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

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

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

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

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

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

22.26 | 0 komentar | Read More