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For-profit schools sue state over new regulations

Written By Unknown on Sabtu, 27 September 2014 | 22.27

BOSTON — An association representing for-profit schools is suing Attorney General Martha Coakley over new regulations they say are unconstitutional.

Coakley says the regulations require for-profit and occupational schools to provide accurate information to the public while prohibiting misleading advertising and addressing unfair lending practices.

The Massachusetts Association of Private Career School filed a complaint in federal court, arguing the rules impose "a new and unworkable regulatory regime on for-profit educational institutions that is unnecessary, overly burdensome, and in many aspects, impossible to satisfy."

The group also argues the regulations are a violation of the First Amendment right to free speech by compelling certain speech while restraining other speech.

Coakley says the regulations will help protect students by requiring schools disclose in advertisements and recruitment materials information about tuition and fees, placement statistics and graduation rates.


22.27 | 0 komentar | Read More

Electric hikes will shock poor

Organizations that rely on government aid to help pay for low-income residents' heat during the winter say the dramatic rate hikes utilities are planning could leave people in the cold.

Liz Berube, assistant director of Citizens for Citizens in Fall River, called National Grid's plan to hike rates by 37 percent "the worst news of the day."

"We're just hoping and praying the most vulnerable people — the elderly and the disabled — don't choose not to eat or fill a prescription just to cover their bill," said Berube, most of whose clients use National Grid.

Of the 17,000 people Citizens for Citizens helped with fuel last winter with the $9 million it received in federal aid and the $1 million it received from the state, she said, more than 4,000 people already have applied for help so far this year, roughly a
33 percent increase over the number of applications received by this time last year.

Action for Boston Community Development — about 60 percent of whose clients are NStar customers and the rest of whom rely primarily on oil for heat — has received more than 10,000 applications as of yesterday, about half the total number received last year, said President and CEO John J. Drew.

Since NStar has warned customers to brace for a rate increase, Drew worries that if ABCD receives about $2 million from the state and $10 million in federal aid, as it did last year, the benefits his clients will receive could be less.


22.27 | 0 komentar | Read More

HubSpot looks to raise $120M

Cambridge enterprise software company HubSpot plans to raise up to 
$120 million from its initial public offering, according to a filing with the Securities and Exchange Commission.

In the filing, HubSpot said it will sell 5 million shares of common stock with an option for 750,000 more for between $19 and $21 per share. That would value the company at more than $600 million.

Renaissance Capital, which manages an IPO ETF, expects shares of Hubspot to hit the market within two weeks.

Kathleen Smith, chairman of Renaissance Capital, said HubSpot will have to convince investors it is different from other enterprise software companies, many of which have struggled in the public markets so far this year.

"This sector sold off back in March," Smith said. "Investors weren't making any money."

HubSpot, best known for its software for marketers, announced several new products last week designed to move the company into the sales industry.

At its annual customer conference last week, CEO Brian Halligan said he is trying to build an "anchor company" in Boston that can help lead the region's charge as a global technology leader.


22.27 | 0 komentar | Read More

'World News Tonight' anchor David Muir recalls his move from local Boston news

David Muir recently took over the chair at ABC's "World News Tonight," joining the elite club of evening news anchors -- at an age, 40, that is decidedly younger than the rest. He was first noticed in Variety back in July 2003, when he left a gig as a reporter at Boston's WCVB TV to anchor ABC's overnight broadcast.

What was working at WCVB like?

I felt like the luckiest kid in the world when I landed that job. Anyone who knows the industry (there) will remember the anchor team of Chet Curtis and Natalie Jacobson. They were really known for their sign-on as "Chet and Nat." Their standards were extraordinarily high … I remember my first live report, and you do your return, "Chet and Nat, back to you." I felt so good, and then a moment later thought, "Was that too presumptuous to send it back to them in that tone?" When I got to the newsroom, I went to Natalie and I said, "Was that OK?" She looked at me. "Of course, you're part of the team."

Were you aware of your first mention in Variety?

I try not to look at much coverage about me in this job. I try to keep my head down. But I'm honored it was covered.

Was life as hectic for you then as it must be for you now?

It was a different kind of hectic. At that time, Boston was one of the greatest markets to cover. Viewers wanted information on politics, but also the Red Sox and the Patriots. Snowstorms were outsized, too. It was a great training ground.

How did it feel when you got the call to go to a national network?

Network news was always my dream, but it wasn't as though I planned on it happening that quickly. There were a couple of calls of interest, and I felt privileged to have had those calls.

What did it take to adjust to life in New York City?

A Metrocard. I still use it after the show is over. Couldn't live without it.

Did you ever imagine anchoring an evening newscast was in your future?

Oh, no. I did grow up as a 12-year-old boy in upstate New York who would, playing at the end of the day, excuse myself from the backyard to go and watch the evening news. Peter Jennings was my choice, and I even remember then thinking that this guy is the James Bond of the evening news. I never dreamed I would be sitting in his chair one day. I still don't think it has set in.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Massachusetts electric rates shoot up 37 percent

BOSTON — Many Massachusetts households are going to see their electric bills shoot up 37 percent this winter, a rate increase that some advocates fear will put additional strain on low-income families.

State regulators approved the increase for National Grid household customers that would mean an average of $33 per month more for the typical residential customer and would push a typical monthly bill higher than $150.

Large-business customers will see even higher increases.

National Grid has almost 1.3 million residential and business electric customers in Massachusetts. The new rates take effect in November.

"This is pretty bad, and it's going to really have a bearing on a lot of Massachusetts households' abilities to just make ends meet this winter," John Howat, senior energy analyst at the National Consumer Law Center in Boston, told The Boston Globe.

The utility blame the rate hikes on the cost of buying electricity from power plants, which has soared because of an increased demand for natural gas used to generate electricity.

"This is something that's not within National Grid's control," spokesman Jake Navarro said. "This is a market-based problem."

The rate hikes will also hurt businesses.

"It's a very difficult thing, particularly for small businesses at a time when they're already struggling with the highest health care costs in the country and soon to be highest minimum wage," Jon Hurst, president of the Retailers Association of Massachusetts, told the Boston Herald. "All these things are required costs of doing business, and it's very difficult to be profitable."

NStar, with more than 1.1 million customers in the state, and Western Massachusetts Electric Co., with about 213,000 customers, also expect to seek rate increases, a spokesman said.

Those companies, both owned by Northeast Utilities, won't file their winter rate requests until later this fall.


22.27 | 0 komentar | Read More

Asian stocks up as US data boost sentiment

Written By Unknown on Kamis, 25 September 2014 | 22.26

SEOUL, South Korea — Asian stock markets were mostly higher Thursday after a surge in new home sales in the U.S. bolstered sentiment. But gains were limited by worries about Europe's stagnant economy and violence in Iraq and Syria.

KEEPING SCORE: Japan outperformed the region with the Nikkei 225 up 1.2 percent to 16,364.74 after the dollar rose above 109 yen overnight, a fresh six-year high. In mainland China, the Shanghai Composite rose 0.3 percent to 2,351.39. Australia's S&P/ASX 200 added 0.1 percent to 5,380.30. Stocks in Southeast Asia rose. South Korea's Kospi drifted 0.1 percent lower to 2,034.80 and Hong Kong's Hang Seng edged down 0.2 percent to 23,884.90.

HOUSING JUMP: The Commerce Department said new home sales climbed 18 percent in August to an annual rate of 504,000 homes, beating the 430,000 expected by economists. It was the fastest clip since May 2008 and a sign that the real estate market might improve after the recovery from the Great Recession stalled during the past year because of sluggish wage growth and rising prices.

ANALYST TAKE: The unexpected increase in U.S. home sales may "indicate that young people are perhaps now starting to feel economically secure enough to buy their own homes," Chang Wei Liang of Mizuho Bank said in a commentary. "Continuation of this strength would provide further concrete evidence that even the labor market for young people is already near normality."

SLOW EUROPE: On Wednesday, data showed that business confidence in Germany, Europe's largest economy, dropped for the fifth straight month. The Ifo institute said its confidence index dropped to 104.7 points for September from 106.3 last month as the mood among executives darkened regarding both the current situation and the outlook for the next six months. The fall was bigger than anticipated.

WALL STREET: The Dow Jones industrial average advanced 0.9 percent to 17,210.06 on Wednesday, its best day since Aug. 18. The Standard & Poor's 500 rose 0.8 percent to 1,998.30 and the Nasdaq composite rose 1 percent to 4,555.22.

ENERGY: Benchmark U.S. crude oil edged down 7 cents to $92.73 a barrel on the New York Mercantile Exchange. On Wednesday, the contract rose $1.24 to $92.80 after the government reported a larger-than-expected decline in oil stocks.

CURRENCY: The euro dropped to $1.2767 from $1.2777 late Wednesday. The dollar fell to 109.14 yen from 109.19 yen.


22.26 | 0 komentar | Read More

One Seaport Square complex to include movie theater

WS Development has signed a 20-year lease for a movie theater at One Seaport Square, an estimated $600 million pair of 22-story apartment and retail towers slated for South Boston's Seaport District.

Chicago-based Kerasotes ShowPlace Theatres will occupy about 41,375 square feet of third-floor space in the project, which will include 260,000 square feet of retail in total.

Kerasotes operates ShowPlace ICON Theatres in Chicago and St. Louis Park, Minn., that include a lobby lounge, reserved seating and dining with alcohol in leather sofa-style chairs with tables. It also runs a standard multiplex movie theater, Kerasotes Showplace 14, in Secaucus, N.J.

Kerasotes couldn't be reached for comment, but its website says it plans to open more of its ICON Theatres in other major U.S. markets.

Michael McNaughton, senior vice president of Chestnut Hill-based WS Development, would not comment on the deal.

"We're planning a groundbreaking in the next 30 days, and our goal was to work within that time-frame to unveil some key announcements," he said.

At 1.1 million square feet, One Seaport Square is the largest project in the $3.5 billion Seaport Square neighborhood, which is set to include 6.3 million square feet of mixed-used projects on 23 acres. WS Development is handling all of the leasing for the 1.3 million square feet of Seaport Square's retail space.

Boston multifamily-housing investor and manager Berkshire Group paid $72 million in December to buy three acres for One Seaport Square from master developers Morgan Stanley and Boston Global Investors, which will remain a limited partner.


22.26 | 0 komentar | Read More

ESPN suspends Bill Simmons for NFL comments

ESPN has suspended analyst Bill Simmons for three weeks over a profanity-laced rant in which he called NFL commissioner Roger Goodell a "liar" and challenged his bosses at ESPN to punish him for criticizing the league's recent handling of its domestic violence issues.

The network made the announcement on Wednesday.

"Every employee must be accountable to ESPN and those engaged in our editorial operations must also operate within ESPN's journalistic standards," the company said in a statement. "We have worked hard to ensure that our recent NFL coverage has met that criteria. Bill Simmons did not meet those obligations in a recent podcast, and as a result we have suspended him for three weeks."

Simmons, a Holy Cross grad who got his online sports journalism start with his The Boston Sports Guy blog, made the Goodell remarks on his Monday podcast.

"I'm just saying it. He is lying," he said on the B.S. Report. "I think that dude is lying. If you put him up on a lie detector test that guy would fail. For all these people to pretend they didn't know is such f-king bullsh-t. It really is. It's such (explitive) bullsh-t. And for him to go in that press conference and pretend otherwise, I was so insulted. I really was."

Goodell has claimed that nobody from the NFL saw the video of Ray Rice assault his fiance in a casino elevator last February until TMZ posted it on Sept. 8.

"I really hope somebody calls me or emails me and says I'm in trouble for anything I say about Roger Goodell," Simmons said. "Because if one person says that to me, I'm going public. You leave me alone. The Commissioner's a liar and I get to talk about that on my podcast. . . . Please, call me and say I'm in trouble. I dare you."

ESPN suspension of Simmons was quickly denounced on Twitter, where #FreeBillSimmons was the top trend in the U.S. late Wednesday.

It is the second time ESPN has suspended Simmons. Last year for criticizing one of the network's football segments on Twitter

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Permits Wynn Resort's next battle

Among the mountain of permits Wynn Resorts must secure to capitalize on its casino license in Everett is a risky waterfront development approval that one expert said is prone to delays and appeals from project opponents.

Wynn, which has a 3-year construction schedule, needs up to 15 permits for its $1.6 billion casino from a range of agencies, including the state departments of transportation, conservation and recreation, and environmental protection, as well as the Boston Transportation Department, U.S. Army Corps of Engineers, and Massachusetts Water Resources Authority.

Wynn also needs to close a $6 million deal with the MBTA to acquire land for its site access, and file detailed reports with the DEP on cleanup of the arsenic and lead contamination on the former Monsanto site.

One of the most difficult permits Wynn has to obtain for its casino on the Mystic River is a "Chapter 91" waterfront approval, which can be appealed by a group of 10 opponents, as long as five are residents. And it's not unheard of for competitors to prop up local opposition, said Jamy Buchanan Madeja, a permitting expert and former general counsel to the Executive Office of Environmental Affairs.

"The processing time is always long and the appeal opportunities abound," Buchanan Madeja said. "There is no reason this proposal couldn't meet all the legal criteria. However, appeals are allowed either way."

Wynn project manager Chris Gordon acknowledged Chapter 91 is the "longest-lead item" in the menu of approvals it needs, but said the recent explosion of development under the law along Boston's waterfront bodes well.

"I don't think we have any more exposure than a regular developer would have all along the waterfront in Boston," Gordon said. "We've built it into our schedule so it won't hold us up, but it's one we want to make sure we get going on. In this kind of development, you certainly have a lot of regulatory work that's required. We think that we're in pretty good shape."

Gordon said Wynn reps are meeting weekly with state transportation officials to answer their questions about traffic counts, and plan to meet with Boston officials about traffic work at Sullivan Square in Charlestown before filing a key catch-all environmental impact report by the first week of November, when voters will decide whether to repeal the state's casino law.

Gaming commission spokeswoman Elaine Driscoll said the panel will require periodic progress reports from Wynn.

"The commission will use those reports to see where progress is occurring at an appropriate level and where greater speed or effort is needed," Driscoll said in a statement. "However, the commission ... respects the statutory and regulatory responsibilities that other agencies have in making permitting decisions."


22.26 | 0 komentar | Read More

End of line for thoroughbred racing in New England

BOSTON — Suffolk Downs, New England's last thoroughbred racing track which once hosted Seabiscuit and other premier horses of the day, is closing this year, a victim of changes in a gaming industry that now revolves around lotteries and casinos.

The 160-acre track, located just outside downtown Boston, had hoped to revive its sagging fortunes with a $1.1 billion Mohegan Sun casino project. But after the proposal was rejected last week, operators said they had no choice but to close the nearly 80-year-old track.

The live racing season ends Oct. 4. Betting on televised races — or simulcasts — will be offered until about December. It is a blow to the local racing industry and, to some, the end of an era for Boston.

"It was a great, great part of the sports tradition we had here," says Anthony Spadea, who, as president of the New England Horsemen's Benevolent and Protective Association, remains optimistic that state leaders will find a way to preserve thoroughbred racing in the state, perhaps on a smaller scale. "Now, there's so much competition for the entertainment dollar."

The Thoroughbred Racing Associations says the number of tracks in the U.S. has slowly but steadily declined from around 120 venues three decades ago to 100 or fewer today. There once were as many as 17 racing venues in New England alone, local officials say.

"We're losing more major city tracks as casinos expand," says Christopher Scherf, executive vice president of the Maryland-based group.

As word of the track's likely closing spread in recent days, first-time visitors have been stopping by.

Late Monday afternoon, as the day's races were winding down, a few dozen people milled around the property, snapping photos of the horses near the finish line and wandering through the track's cavernous grandstand and concession area.

"It's so strange walking through here," said Paul Christie, a Somerville resident who was with his wife and two young boys. "It's like one of those post-apocalyptic movies where you walk through the city and everything is as it was, but no one is there."

Industry experts say the track's closing will be felt across the country. One less track means fewer owners producing thoroughbreds, fewer jobs for lower-skilled horse workers and fewer bettors for simulcast races.

"Losing Suffolk is kind of like wiping out a region," Scherf says. "You'll lose a good portion of the New England and Boston bettors. They'll leave the sport and become slots players, poker players or fantasy football players. ...That's not good for the industry as a whole, especially when you're looking around the country at how we survive."

Massachusetts gambling regulators scheduled to meet Thursday morning at the Hynes Convention Center promise to look for ways to preserve the racing industry and its approximately 1,200 permanent and seasonal jobs.

But Suffolk Downs' owners, which include prominent casino developer Richard Fields, say they're not holding out for an eleventh-hour reprieve. After losing nearly $60 million over the last seven years, they're eyeing other development options for the property.

In the meantime, horse owners and others working at Suffolk Downs' stables said they face an uncertain future.

Kevin McCarthy, a Pembroke resident who has owned and trained racehorses for only a few years, says he'll send some of his horses south for the winter to compete, as he normally does. Beyond that, he's not sure.

"The shame of it is there are horsemen here that are as good as horsemen from around the country," he said. "They're just New Englanders, so they stayed here."


22.26 | 0 komentar | Read More
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