Boston Herald - Boston Herald

http://bostonherald.com/feed/4%2039%2037%2038%2041%2036%2040 en http://bostonherald.com/business/real_estate/2013/09/cambridge_penthouse_could_be_your_castle <p>This four-bedroom duplex penthouse condo, the home of former Channel 4 meteorologist Mish Michaels, features a dramatic sweeping staircase that joins what were two separate units.</p><p>Part of the 113-unit Bay Square condo complex built in 1989, Michaels and her husband, Wes Atamian, combined two units in 2006 to create a showpiece custom-designed penthouse highlighted by a dramatic two-story vaulted turret with a living area overlooking a great room connected by a curving metal staircase.</p> Real Estate Sat, 21 Sep 2013 00:00:00 -0400 Paul Restuccia 1063304401 http://bostonherald.com/business/business_markets/2013/09/mit_study_us_needs_to_step_up_manufacturing <p>The nation's booming innovation economy is in danger of losing steam and moving overseas unless there is a significant increase in manufacturing in the U.S., according to a new study from the Massachusetts Institute of Technology, but Massachusetts is poised to take advantage of such an increase, a state official says.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Jordan Graham 1063304411 http://bostonherald.com/business/business_markets/2013/09/colonial_drug_departs_from_harvard_square <p>Another vestige of the much lamented Harvard Square of old will close its doors today.</p><p>Colonial Drug, known for its stock of more than 1,000 fragrances, is relocating after 66 years on Brattle Street to combine with the Stoddard's cutlery store in Newton at month's end.</p><p>"We did business with (Stoddard's owner David Marks') father, and his grandfather did business with our father," co-owner J.P. Botindari said. "We said someday we should get together, and we are. We complement each other."</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Donna Goodison 1063304531 http://bostonherald.com/business/automotive/2013/09/magnificent_jag_is_a_treat_for_all <p>It's the chicken or the egg conundrum: Do you want to be the driver of the sleek 2013 Jaguar XJL or the passenger in the elegant cabin?</p><p>The long wheelbase of the XJL affords rear passengers a playground of luxurious creature comforts. Start with the reclining soft leather seats, drop-down glass trays and personal remote controls for the headrest-mounted entertainment centers. Add a whisper-quiet ride, a footrest to leisurely stretch out your legs, cooled and heated massaging seats and you arrive at work or the weekend estate in style.</p> Automotive Sat, 21 Sep 2013 00:00:00 -0400 Jim Mahoney 1063304386 http://bostonherald.com/business/business_markets/2013/09/bay_state_defense_firms_get_work_despite_cuts <p>Massachusetts companies that work with the U.S. Defense Department are still getting contracts in spite of federal budget cuts, but the firms say those contracts tend to be smaller.</p><p>The Defense Department this week announced more than $865 million in contracts, including $9.9 million to Boston Dynamics of Waltham for work on the Legged Squad Support System, or LS3, a legged robot to help service members carry their gear, following them through rugged terrain and interpreting verbal and visual commands.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063304391 http://bostonherald.com/business/business_markets/2013/09/pipe_had_leak_1_year_before_hawaii_molasses_spill <p>HONOLULU — A state inspector saw molasses dripping last year from the same spot where a pipe leaked up to 1,400 tons of the sugary substance into Honolulu Harbor earlier this month, killing more than 26,000 fish and other marine life.</p><p>Department of Transportation Deputy Director Randy Grune said Friday he sent a letter in July 2012 to Matson Navigation Co. notifying the company of the leak. The letter, provided to reporters Friday, asked Matson to tell the state when the pipeline was repaired.</p> Business & Markets Fri, 20 Sep 2013 22:27:32 -0400 Associated Press 1063303856 http://bostonherald.com/business/business_markets/2013/09/scheme_to_snag_iphones_leads_to_chaos_in_calif <p>PASADENA, Calif. — An overnight campout for the new iPhone turned chaotic Friday morning when two men were arrested for fighting outside an Apple Store and a man's plan to hire homeless people to wait in line for the coveted devices backfired, authorities said.</p><p>Dozens of people recruited at a downtown Los Angeles homeless shelter to buy iPhones at a Pasadena store were left unpaid, and they mobbed the man who had hired them, Pasadena police Lt. Jason Clawson said.</p> Business & Markets Fri, 20 Sep 2013 21:22:17 -0400 Associated Press 1063302971 http://bostonherald.com/business/business_markets/2013/09/blackberry_slashes_jobs_in_face_of_1b_2q_loss <p>TORONTO — It was once so addictive it inspired the nickname "CrackBerry." President Barack Obama confessed to being among the millions of devotees who couldn't bear to stop tapping feverishly away on its tiny keyboard. Madonna once said she slept with hers under her pillow.</p><p>Then came the iPhone.</p><p>Users newly addicted to Facebook and photo-sharing and Angry Birds started flirting with the opposition. And as more smartphones flooded the market with their supersize Samsung screens and thousands of apps, the BlackBerry failed to keep up with the flash.</p> Business & Markets Fri, 20 Sep 2013 20:06:10 -0400 Associated Press 1063303256 http://bostonherald.com/business/business_markets/2013/09/navy_suspends_company_implicated_in_scheme <p>WASHINGTON — The Navy suspended a Singapore-based company and its president from contracting with the federal government after the arrests earlier this week in a bribery conspiracy scheme.</p><p>The president and chief executive officer of Glenn Defense Marine Asia Ltd., Leonard Francis, and his company and its affiliates are barred from federal contracts and can't receive benefits from federal assistance programs.</p> Business & Markets Fri, 20 Sep 2013 19:52:00 -0400 Associated Press 1063304181 http://bostonherald.com/business/business_markets/2013/09/allegiant_delays_cancels_flights_to_check_md_80s <p>LAS VEGAS — Allegiant Air officials said Friday that delays and cancelations could continue for several days as more than half of the airline's MD-80s remain grounded for overhauls of emergency slides like the ones deployed in an evacuation this week.</p><p>The inflatable chutes worked properly Monday when smoke was reported in the cabin of an Allegiant MD-80 at McCarran International Airport in Las Vegas, company officials said. An incident review, however, found that fleetwide maintenance hadn't complied with the slide manufacturer's recommendations.</p> Business & Markets Fri, 20 Sep 2013 19:51:00 -0400 Associated Press 1063302331 http://bostonherald.com/business/business_markets/2013/09/gop_house_keep_government_open_hit_obamacare <p>WASHINGTON — Charting a collision course with the White House, the Republican-controlled House approved legislation Friday to wipe out the 3-year-old health care law that President Barack Obama has vowed to preserve — and simultaneously prevent a partial government shutdown that neither party claims to want.</p> Business & Markets Fri, 20 Sep 2013 19:35:48 -0400 Associated Press 1063301316 http://bostonherald.com/business/business_markets/2013/09/stocks_drop_as_investors_fret_over_budget_fight <p>Washington's budget fight jolted investors on Friday, reminding them that the next few weeks could bring a lot of uncertainty. Wall Street hates uncertainty.</p><p>Stocks fell in an afternoon sell-off that wiped out most of the gains from a rally earlier this week, when the Federal Reserve decided to keep its huge economic stimulus program intact.</p><p>Major indexes were mixed in morning trading, but turned lower around midday after the U.S. House of Representatives voted to defund President Barack Obama's health care law.</p> Business & Markets Fri, 20 Sep 2013 17:50:51 -0400 Associated Press 1063302201 http://bostonherald.com/business/technology/technology_news/2013/09/senator_concerned_about_apples_fingerprint_tech <p>NEW YORK — Sen. Al Franken is asking Apple for more clarity on privacy and security concerns he has with its use of fingerprint recognition technology in the new iPhone 5S.</p><p>The iPhone 5S, which went on sale Friday, includes a fingerprint sensor that lets users tap the phone's home button to unlock their phone, rather than enter a four-digit passcode.</p> Technology News Fri, 20 Sep 2013 17:39:16 -0400 Associated Press 1063302701 http://bostonherald.com/business/business_markets/2013/09/oil_falls_as_another_us_budget_battle_looms <p>NEW YORK — Oil fell more than 1 percent Friday as fears of a disruption to Middle East supplies eased while concerns about a shutdown of the U.S. government grew stronger.</p><p>Benchmark oil for October delivery dropped $1.72, or 1.4 percent, to close at $104.67 per barrel on the New York Mercantile Exchange. For the week, oil dropped $3.54, or 3.3 percent. That's despite a 2.5 percent increase on Wednesday, when the U.S. Federal Reserve announced it would keep its stimulus policy in place.</p> Business & Markets Fri, 20 Sep 2013 17:14:39 -0400 Associated Press 1063303601 http://bostonherald.com/business/business_markets/2013/09/moodys_established_gambling_markets_faltering <p>LAS VEGAS — Established gambling towns like Las Vegas and Atlantic City are hurting as more states start welcoming bettors' dollars, Moody's Investors Service warned this week.</p><p>The credit rating agency issued a report describing a shift in casino tax revenues away from New Jersey, Indiana and Nevada to new markets in places like Pennsylvania, Illinois and Ohio.</p><p>The recession crushed gambling revenues across the county, and casino towns have been slow to bounce back.</p> Business & Markets Fri, 20 Sep 2013 16:13:19 -0400 Associated Press 1063303041 http://bostonherald.com/business/business_markets/2013/09/obama_moves_to_limit_power_plant_carbon_pollution <p>WASHINGTON — Linking global warming to public health, disease and extreme weather, the Obama administration pressed ahead Friday with tough requirements to limit carbon pollution from new power plants, despite protests from industry and Republicans that it would dim coal's future.</p> Business & Markets Fri, 20 Sep 2013 16:02:01 -0400 Associated Press 1063301306 http://bostonherald.com/business/healthcare/2013/09/ag_rides_for_dead_people_billed_to_medicaid_program <p>A medical transportation company billed the government for rides for dead people, according to the attorney general's office, which today indicted the owner of the Webster-based business for allegedly defrauding a Medicaid program of more than $470,000.</p><p>Cynthia J. Keegan, 50, of Webster and her company, Cross Roads Trolley, were indicted yesterday by a Worcester County grand jury for multiple counts of larceny and Medicaid false claims.</p> Healthcare Fri, 20 Sep 2013 12:21:00 -0400 Ariel Rodriguez 1063302521 http://bostonherald.com/business/business_markets/2013/09/employers_cut_jobs_in_20_us_states_in_august <p>WASHINGTON — Employers cut jobs in 20 states last month, suggesting modest improvement in the U.S. job market this year is not enough to benefit all areas of the country.</p><p>The Labor Department said Friday that 29 states added jobs, while Montana showed no net gain or loss in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15.</p><p>"The picture is decidedly mixed," said Jim Diffley, chief US regional economist at IHS Global Insight. "We're still optimistic about the improvement (in hiring), but it's been slow."</p> Business & Markets Fri, 20 Sep 2013 11:59:51 -0400 Associated Press 1063302231 http://bostonherald.com/business/technology/technology_news/2013/09/3_mayoral_candidates_who_understand_innovation <p>In a race focused heavily on schools, jobs and crime, mayoral candidates John R. Connolly, John F. Barros and Michael P. Ross have emerged as the tech trio – the ones who understand the critical role that innovation could play in the next administration.</p> Technology News Fri, 20 Sep 2013 00:00:00 -0400 Jessica Van Sack 1063300636 http://bostonherald.com/business/business_markets/2013/09/mit_prez_fed_budget_cuts_killing_growth <p> </p><p>Massive federal budget cuts are threatening Boston's innovation economy, and could significantly derail the industry's momentum years from now, education and business leaders say.</p><p>"It would be hard to overstate the negative impact on the people, the businesses and the future of Greater Boston and our nation," MIT President Rafael Reif yesterday told the Greater Boston Chamber of Commerce.</p> Business & Markets Fri, 20 Sep 2013 00:00:00 -0400 Jordan Graham
, Chris Cassidy 1063300641

http://bostonherald.com/feed/4%2039%2037%2038%2041%2036%2040 en http://bostonherald.com/business/real_estate/2013/09/cambridge_penthouse_could_be_your_castle <p>This four-bedroom duplex penthouse condo, the home of former Channel 4 meteorologist Mish Michaels, features a dramatic sweeping staircase that joins what were two separate units.</p><p>Part of the 113-unit Bay Square condo complex built in 1989, Michaels and her husband, Wes Atamian, combined two units in 2006 to create a showpiece custom-designed penthouse highlighted by a dramatic two-story vaulted turret with a living area overlooking a great room connected by a curving metal staircase.</p> Real Estate Sat, 21 Sep 2013 00:00:00 -0400 Paul Restuccia 1063304401 http://bostonherald.com/business/business_markets/2013/09/mit_study_us_needs_to_step_up_manufacturing <p>The nation's booming innovation economy is in danger of losing steam and moving overseas unless there is a significant increase in manufacturing in the U.S., according to a new study from the Massachusetts Institute of Technology, but Massachusetts is poised to take advantage of such an increase, a state official says.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Jordan Graham 1063304411 http://bostonherald.com/business/business_markets/2013/09/colonial_drug_departs_from_harvard_square <p>Another vestige of the much lamented Harvard Square of old will close its doors today.</p><p>Colonial Drug, known for its stock of more than 1,000 fragrances, is relocating after 66 years on Brattle Street to combine with the Stoddard's cutlery store in Newton at month's end.</p><p>"We did business with (Stoddard's owner David Marks') father, and his grandfather did business with our father," co-owner J.P. Botindari said. "We said someday we should get together, and we are. We complement each other."</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Donna Goodison 1063304531 http://bostonherald.com/business/automotive/2013/09/magnificent_jag_is_a_treat_for_all <p>It's the chicken or the egg conundrum: Do you want to be the driver of the sleek 2013 Jaguar XJL or the passenger in the elegant cabin?</p><p>The long wheelbase of the XJL affords rear passengers a playground of luxurious creature comforts. Start with the reclining soft leather seats, drop-down glass trays and personal remote controls for the headrest-mounted entertainment centers. Add a whisper-quiet ride, a footrest to leisurely stretch out your legs, cooled and heated massaging seats and you arrive at work or the weekend estate in style.</p> Automotive Sat, 21 Sep 2013 00:00:00 -0400 Jim Mahoney 1063304386 http://bostonherald.com/business/business_markets/2013/09/bay_state_defense_firms_get_work_despite_cuts <p>Massachusetts companies that work with the U.S. Defense Department are still getting contracts in spite of federal budget cuts, but the firms say those contracts tend to be smaller.</p><p>The Defense Department this week announced more than $865 million in contracts, including $9.9 million to Boston Dynamics of Waltham for work on the Legged Squad Support System, or LS3, a legged robot to help service members carry their gear, following them through rugged terrain and interpreting verbal and visual commands.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063304391 http://bostonherald.com/business/business_markets/2013/09/pipe_had_leak_1_year_before_hawaii_molasses_spill <p>HONOLULU — A state inspector saw molasses dripping last year from the same spot where a pipe leaked up to 1,400 tons of the sugary substance into Honolulu Harbor earlier this month, killing more than 26,000 fish and other marine life.</p><p>Department of Transportation Deputy Director Randy Grune said Friday he sent a letter in July 2012 to Matson Navigation Co. notifying the company of the leak. The letter, provided to reporters Friday, asked Matson to tell the state when the pipeline was repaired.</p> Business & Markets Fri, 20 Sep 2013 22:27:32 -0400 Associated Press 1063303856 http://bostonherald.com/business/business_markets/2013/09/scheme_to_snag_iphones_leads_to_chaos_in_calif <p>PASADENA, Calif. — An overnight campout for the new iPhone turned chaotic Friday morning when two men were arrested for fighting outside an Apple Store and a man's plan to hire homeless people to wait in line for the coveted devices backfired, authorities said.</p><p>Dozens of people recruited at a downtown Los Angeles homeless shelter to buy iPhones at a Pasadena store were left unpaid, and they mobbed the man who had hired them, Pasadena police Lt. Jason Clawson said.</p> Business & Markets Fri, 20 Sep 2013 21:22:17 -0400 Associated Press 1063302971 http://bostonherald.com/business/business_markets/2013/09/blackberry_slashes_jobs_in_face_of_1b_2q_loss <p>TORONTO — It was once so addictive it inspired the nickname "CrackBerry." President Barack Obama confessed to being among the millions of devotees who couldn't bear to stop tapping feverishly away on its tiny keyboard. Madonna once said she slept with hers under her pillow.</p><p>Then came the iPhone.</p><p>Users newly addicted to Facebook and photo-sharing and Angry Birds started flirting with the opposition. And as more smartphones flooded the market with their supersize Samsung screens and thousands of apps, the BlackBerry failed to keep up with the flash.</p> Business & Markets Fri, 20 Sep 2013 20:06:10 -0400 Associated Press 1063303256 http://bostonherald.com/business/business_markets/2013/09/navy_suspends_company_implicated_in_scheme <p>WASHINGTON — The Navy suspended a Singapore-based company and its president from contracting with the federal government after the arrests earlier this week in a bribery conspiracy scheme.</p><p>The president and chief executive officer of Glenn Defense Marine Asia Ltd., Leonard Francis, and his company and its affiliates are barred from federal contracts and can't receive benefits from federal assistance programs.</p> Business & Markets Fri, 20 Sep 2013 19:52:00 -0400 Associated Press 1063304181 http://bostonherald.com/business/business_markets/2013/09/allegiant_delays_cancels_flights_to_check_md_80s <p>LAS VEGAS — Allegiant Air officials said Friday that delays and cancelations could continue for several days as more than half of the airline's MD-80s remain grounded for overhauls of emergency slides like the ones deployed in an evacuation this week.</p><p>The inflatable chutes worked properly Monday when smoke was reported in the cabin of an Allegiant MD-80 at McCarran International Airport in Las Vegas, company officials said. An incident review, however, found that fleetwide maintenance hadn't complied with the slide manufacturer's recommendations.</p> Business & Markets Fri, 20 Sep 2013 19:51:00 -0400 Associated Press 1063302331 http://bostonherald.com/business/business_markets/2013/09/gop_house_keep_government_open_hit_obamacare <p>WASHINGTON — Charting a collision course with the White House, the Republican-controlled House approved legislation Friday to wipe out the 3-year-old health care law that President Barack Obama has vowed to preserve — and simultaneously prevent a partial government shutdown that neither party claims to want.</p> Business & Markets Fri, 20 Sep 2013 19:35:48 -0400 Associated Press 1063301316 http://bostonherald.com/business/business_markets/2013/09/stocks_drop_as_investors_fret_over_budget_fight <p>Washington's budget fight jolted investors on Friday, reminding them that the next few weeks could bring a lot of uncertainty. Wall Street hates uncertainty.</p><p>Stocks fell in an afternoon sell-off that wiped out most of the gains from a rally earlier this week, when the Federal Reserve decided to keep its huge economic stimulus program intact.</p><p>Major indexes were mixed in morning trading, but turned lower around midday after the U.S. House of Representatives voted to defund President Barack Obama's health care law.</p> Business & Markets Fri, 20 Sep 2013 17:50:51 -0400 Associated Press 1063302201 http://bostonherald.com/business/technology/technology_news/2013/09/senator_concerned_about_apples_fingerprint_tech <p>NEW YORK — Sen. Al Franken is asking Apple for more clarity on privacy and security concerns he has with its use of fingerprint recognition technology in the new iPhone 5S.</p><p>The iPhone 5S, which went on sale Friday, includes a fingerprint sensor that lets users tap the phone's home button to unlock their phone, rather than enter a four-digit passcode.</p> Technology News Fri, 20 Sep 2013 17:39:16 -0400 Associated Press 1063302701 http://bostonherald.com/business/business_markets/2013/09/oil_falls_as_another_us_budget_battle_looms <p>NEW YORK — Oil fell more than 1 percent Friday as fears of a disruption to Middle East supplies eased while concerns about a shutdown of the U.S. government grew stronger.</p><p>Benchmark oil for October delivery dropped $1.72, or 1.4 percent, to close at $104.67 per barrel on the New York Mercantile Exchange. For the week, oil dropped $3.54, or 3.3 percent. That's despite a 2.5 percent increase on Wednesday, when the U.S. Federal Reserve announced it would keep its stimulus policy in place.</p> Business & Markets Fri, 20 Sep 2013 17:14:39 -0400 Associated Press 1063303601 http://bostonherald.com/business/business_markets/2013/09/moodys_established_gambling_markets_faltering <p>LAS VEGAS — Established gambling towns like Las Vegas and Atlantic City are hurting as more states start welcoming bettors' dollars, Moody's Investors Service warned this week.</p><p>The credit rating agency issued a report describing a shift in casino tax revenues away from New Jersey, Indiana and Nevada to new markets in places like Pennsylvania, Illinois and Ohio.</p><p>The recession crushed gambling revenues across the county, and casino towns have been slow to bounce back.</p> Business & Markets Fri, 20 Sep 2013 16:13:19 -0400 Associated Press 1063303041 http://bostonherald.com/business/business_markets/2013/09/obama_moves_to_limit_power_plant_carbon_pollution <p>WASHINGTON — Linking global warming to public health, disease and extreme weather, the Obama administration pressed ahead Friday with tough requirements to limit carbon pollution from new power plants, despite protests from industry and Republicans that it would dim coal's future.</p> Business & Markets Fri, 20 Sep 2013 16:02:01 -0400 Associated Press 1063301306 http://bostonherald.com/business/healthcare/2013/09/ag_rides_for_dead_people_billed_to_medicaid_program <p>A medical transportation company billed the government for rides for dead people, according to the attorney general's office, which today indicted the owner of the Webster-based business for allegedly defrauding a Medicaid program of more than $470,000.</p><p>Cynthia J. Keegan, 50, of Webster and her company, Cross Roads Trolley, were indicted yesterday by a Worcester County grand jury for multiple counts of larceny and Medicaid false claims.</p> Healthcare Fri, 20 Sep 2013 12:21:00 -0400 Ariel Rodriguez 1063302521 http://bostonherald.com/business/business_markets/2013/09/employers_cut_jobs_in_20_us_states_in_august <p>WASHINGTON — Employers cut jobs in 20 states last month, suggesting modest improvement in the U.S. job market this year is not enough to benefit all areas of the country.</p><p>The Labor Department said Friday that 29 states added jobs, while Montana showed no net gain or loss in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15.</p><p>"The picture is decidedly mixed," said Jim Diffley, chief US regional economist at IHS Global Insight. "We're still optimistic about the improvement (in hiring), but it's been slow."</p> Business & Markets Fri, 20 Sep 2013 11:59:51 -0400 Associated Press 1063302231 http://bostonherald.com/business/technology/technology_news/2013/09/3_mayoral_candidates_who_understand_innovation <p>In a race focused heavily on schools, jobs and crime, mayoral candidates John R. Connolly, John F. Barros and Michael P. Ross have emerged as the tech trio – the ones who understand the critical role that innovation could play in the next administration.</p> Technology News Fri, 20 Sep 2013 00:00:00 -0400 Jessica Van Sack 1063300636 http://bostonherald.com/business/business_markets/2013/09/mit_prez_fed_budget_cuts_killing_growth <p> </p><p>Massive federal budget cuts are threatening Boston's innovation economy, and could significantly derail the industry's momentum years from now, education and business leaders say.</p><p>"It would be hard to overstate the negative impact on the people, the businesses and the future of Greater Boston and our nation," MIT President Rafael Reif yesterday told the Greater Boston Chamber of Commerce.</p> Business & Markets Fri, 20 Sep 2013 00:00:00 -0400 Jordan Graham
, Chris Cassidy 1063300641

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Boston Herald - Boston Herald

http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/3_mayoral_candidates_who_understand_innovation <p>In a race focused heavily on schools, jobs and crime, mayoral candidates John R. Connolly, John F. Barros and Michael P. Ross have emerged as the tech trio – the ones who understand the critical role that innovation could play in the next administration.</p> Technology News Fri, 20 Sep 2013 00:00:00 -0400 Jessica Van Sack 1063300636 http://bostonherald.com/business/business_markets/2013/09/mit_prez_fed_budget_cuts_killing_growth <p> </p><p>Massive federal budget cuts are threatening Boston's innovation economy, and could significantly derail the industry's momentum years from now, education and business leaders say.</p><p>"It would be hard to overstate the negative impact on the people, the businesses and the future of Greater Boston and our nation," MIT President Rafael Reif yesterday told the Greater Boston Chamber of Commerce.</p> Business & Markets Fri, 20 Sep 2013 00:00:00 -0400 Jordan Graham
, Chris Cassidy 1063300641 http://bostonherald.com/business/business_markets/2013/09/the_ticker_5 <p><strong>Logan to get Dubai flights</strong></p><p>The Massachusetts Port Authority yesterday announced that Emirates Airlines will begin daily nonstop flights from Dubai to Boston starting March 14.</p><p>The Emirates service comes with a $1.5 million sweetener, a Massport incentive program that includes landing fee credits and joint advertising opportunities.</p><p>The flights on Emirates follow announcements in the past 18 months of new international service between Logan and Tokyo, Panama City and Istanbul.</p> Business & Markets Fri, 20 Sep 2013 00:00:00 -0400 herald.staff 1063300696 http://bostonherald.com/business/real_estate/2013/09/much_needed_hub_condos_on_the_way <p> </p><p>For the past year, Bay State homeowners and potential home buyers competed in bidding wars as they targeted a dwindling supply of properties for sale. Massachusetts' housing market rebounded strongly in the first two quarters as the median sale price for single-family homes and condos jumped at double-digit rates and sales reached levels not seen since 2006.</p><p>But has the market cooled with mortgage rates up by a full percentage point over the past four months? And if so, what will the fall and winter markets look like?</p> Real Estate Fri, 20 Sep 2013 00:00:00 -0400 Jennifer Athas 1063300131 http://bostonherald.com/business/real_estate/2013/09/price_y_offices_rise_in_seaport <p>Shovels were ceremoniously lifted yesterday to mark construction already under way on the first office tower in Seaport Square, one of the largest mixed-used, master plan developments in the nation in one of the fastest growing areas of the city.</p> Real Estate Fri, 20 Sep 2013 00:00:00 -0400 Donna Goodison 1063300231 http://bostonherald.com/business/automotive/2013/09/california_adopts_ride_hailing_service_regulations <p>SAN FRANCISCO — Web-based ride-hailing companies will have to make sure drivers undergo training and criminal background checks and have commercial liability insurance under rules approved Thursday by California regulators.</p><p>The state Public Utilities Commission voted unanimously in favor of those rules and others for such companies as Lyft and Sidecar. Both companies rely on smartphone applications to connect riders and drivers who use their own vehicles.</p><p>Commissioners said the rules were needed to ensure public safety.</p> Automotive Thu, 19 Sep 2013 22:17:13 -0400 Associated Press 1063298791 http://bostonherald.com/business/business_markets/2013/09/senate_passes_bill_to_avert_helium_shortage <p>WASHINGTON — Break out the balloons.</p><p>Congress moved a step closer Thursday to averting an impending shutdown of the federal helium reserve, a key supplier of the lighter-than-air gas used in a products ranging from party balloons to MRI machines.</p><p>The Federal Helium Program, which provides about 42 percent of the nation's helium from a storage site near Amarillo, Texas, is set to shut down Oct. 7 unless lawmakers intervene. The shutdown is a result of a 1996 law requiring the reserve to pay off a $1.3 billion debt by selling its helium.</p> Business & Markets Thu, 19 Sep 2013 19:17:22 -0400 Associated Press 1063299126 http://bostonherald.com/business/business_markets/2013/09/jpmorgan_admits_fault_pays_920m_in_trading_loss <p>WASHINGTON — The financial penalty is staggering. JPMorgan Chase &amp; Co. will pay $920 million for trading losses that shook the financial world last year.</p><p>But the bigger price may be a few words rarely uttered in settlements with U.S. regulators: The nation's largest bank is also admitting wrongdoing.</p><p>JPMorgan's acknowledged failure of oversight in the $6 billion trading loss is a first for a major company since the Securities and Exchange Commission reversed its longstanding practice of allowing firms to pay fines without accepting fault.</p> Business & Markets Thu, 19 Sep 2013 18:27:41 -0400 Associated Press 1063297606 http://bostonherald.com/business/business_markets/2013/09/ex_halliburton_manager_charged_in_gulf_spill_probe <p>NEW ORLEANS — A former Halliburton manager was charged Thursday with destroying evidence following BP's 2010 oil spill in the Gulf of Mexico, a case that coincides with a guilty plea to a related charge by the Houston-based oilfield services company.</p><p>Anthony Badalamenti, who had been the cementing technology director for Halliburton Energy Services Inc., was charged in federal court with instructing two other employees to delete data during a post-spill review of the cement job on BP's blown-out well.</p> Business & Markets Thu, 19 Sep 2013 17:12:15 -0400 Associated Press 1063297266 http://bostonherald.com/business/business_markets/2013/09/man_accused_in_bogus_phone_bill_scheme_indicted <p>HELENA, Mont. — A Montana man being sued by the federal government over $70 million in charges to unsuspecting phone customers' bills nationwide is now facing criminal counts of wire fraud, conspiracy and money laundering.</p><p>The 35-count indictment against Steve Sann was unsealed Wednesday during a settlement conference in a separate civil lawsuit filed by the Federal Trade Commission over the allegations.</p> Business & Markets Thu, 19 Sep 2013 16:40:21 -0400 Associated Press 1063298406 http://bostonherald.com/business/business_markets/2013/09/americans_increasingly_hungry_for_hipster_foods <p>So maybe the chance to taste the flaky spawn of a doughnut and croissant won't get you lining up at the crack of dawn. Maybe you're holding out for a burger nestled between fried ramen noodles. Or perhaps it's the elusive McRib that moves you.</p><p>Whatever flies your foodie flag, it's hard to deny that Americans love feeling part of something deliciously exclusive, that they clamor to taste trendy, hard-to-get morsels.</p> Business & Markets Thu, 19 Sep 2013 16:30:14 -0400 Associated Press 1063298871 http://bostonherald.com/business/technology/technology_news/2013/09/tj_maxx_lets_customers_shop_online <p>NEW YORK — Deal hunters have a new online option: This week, off-price retailer T.J. Maxx has quietly begun letting its customers shop online.</p><p>Off-price retailers like T.J. Maxx buy excess clothing and home goods from other merchants and sells them at about 20 percent to 60 percent off regular prices.</p> Technology News Thu, 19 Sep 2013 15:59:17 -0400 Associated Press 1063298891 http://bostonherald.com/business/business_markets/2013/09/postmaster_says_usps_may_need_emergency_rate_hike <p>WASHINGTON — Postmaster General Patrick Donahoe said Thursday his agency is in "the midst of a financial disaster" and may need an emergency increase in postage rates to keep operating.</p><p>"The Postal Service as it exists today is financially unsustainable," he told the Senate Homeland Security and Governmental Affairs Committee. It's a message that the postmaster general has been delivering to Congress with regularity over the past several months.</p> Business & Markets Thu, 19 Sep 2013 15:18:47 -0400 Associated Press 1063297716 http://bostonherald.com/business/business_markets/2013/09/pandora_boosts_stock_offering_as_shares_hit_high <p>LOS ANGELES — Pandora stock hit an all-time high Thursday in the wake of a court ruling that should help the Internet radio giant trim its songwriter royalty costs.</p> Business & Markets Thu, 19 Sep 2013 13:54:35 -0400 Associated Press 1063298411 http://bostonherald.com/business/business_markets/2013/09/google_releases_digital_wallet_app_for_iphones <p>SAN FRANCISCO — Google is bringing its digital wallet to the iPhone in its latest attempt to upstage Apple on its own popular device.</p><p>Thursday's release of the Google Wallet app represents a challenge to the Passbook program that Apple has built into the iPhone's operating system.</p><p>Both Google Wallet and Passbook allow iPhone users to store loyalty cards from some merchants and scan coupons offering discounts.</p> Business & Markets Thu, 19 Sep 2013 13:43:30 -0400 Associated Press 1063298446 http://bostonherald.com/business/business_markets/2013/09/mass_unemployment_rate_flat_despite_7500_new_jobs_in_august <p>Massachusetts added 7,500 jobs in August but the unemployment rate stayed flat at 7.2 percent, officials said today.</p><p>The private sector added 6,700 jobs in August, as education and health services, leisure and hospitality, manufacturing, construction, information and financial activities all added to their ranks, the preliminary Bureau of Labor Statistics estimates show. Government added 800 jobs over the month and 1,600 over the year.</p> Business & Markets Thu, 19 Sep 2013 12:00:00 -0400 Marie Szaniszlo 1063298086 http://bostonherald.com/business/technology/technology_news/2013/09/mass_computer_contact_had_many_problems <p>BOSTON — A state contract for a computer system to process unemployment claims provided few protections for taxpayers and little oversight of consultants, resulting in a system that arrived years late, millions of dollars over budget, and riddled with problems, according to review of contract documents.</p> Technology News Thu, 19 Sep 2013 11:02:04 -0400 Associated Press 1063297341 http://bostonherald.com/business/media_marketing/2013/09/mass_adds_jobs_but_jobless_rate_remains_steady <p>BOSTON — The Massachusetts unemployment rate held steady at 7.2 percent last month even though the state added 7,500 jobs.</p><p>The state Executive Office of Labor and Workforce Development announced Thursday that most of the job additions came in the private sector, with the education and health services sector leading the way with about 4,100 new jobs. Leisure and hospitality, manufacturing, and construction also gained jobs.</p><p>The agency says the state has added more than 45,000 jobs in the past 12 months. Revised statistics show the state lost 300 jobs in July.</p> Media & Marketing Thu, 19 Sep 2013 09:48:39 -0400 Associated Press 1063297696 http://bostonherald.com/business/business_markets/2013/09/us_unemployment_benefit_applications_rise_to_309k <p>WASHINGTON — The number of people seeking U.S. unemployment benefits rose 15,000 last week to a seasonally adjusted 309,000. But the data was distorted for the second straight week by reporting delays.</p><p>The Labor Department says the less volatile four-week average fell 7,000 to 314,750, the lowest in nearly six years.</p><p>Applications plummeted two weeks ago when California and Nevada were unable to report all their data because of computer upgrades in both states.</p> Business & Markets Thu, 19 Sep 2013 09:22:34 -0400 Associated Press 1063297546 http://bostonherald.com/business/business_markets/2013/09/mit_president_sequester_choking_innovation_economy <p>"Drastic" federal budget cuts caused by sequestration threaten to derail major innovative breakthroughs — like an AIDS vaccine, 3D printing and digital learning — unless the Hub's business leaders lobby Congress for change, the president of MIT told the Greater Boston Chamber of Commerce this morning.</p> Business & Markets Thu, 19 Sep 2013 09:00:00 -0400 Chris Cassidy 1063297631

http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/3_mayoral_candidates_who_understand_innovation <p>In a race focused heavily on schools, jobs and crime, mayoral candidates John R. Connolly, John F. Barros and Michael P. Ross have emerged as the tech trio – the ones who understand the critical role that innovation could play in the next administration.</p> Technology News Fri, 20 Sep 2013 00:00:00 -0400 Jessica Van Sack 1063300636 http://bostonherald.com/business/business_markets/2013/09/mit_prez_fed_budget_cuts_killing_growth <p> </p><p>Massive federal budget cuts are threatening Boston's innovation economy, and could significantly derail the industry's momentum years from now, education and business leaders say.</p><p>"It would be hard to overstate the negative impact on the people, the businesses and the future of Greater Boston and our nation," MIT President Rafael Reif yesterday told the Greater Boston Chamber of Commerce.</p> Business & Markets Fri, 20 Sep 2013 00:00:00 -0400 Jordan Graham
, Chris Cassidy 1063300641 http://bostonherald.com/business/business_markets/2013/09/the_ticker_5 <p><strong>Logan to get Dubai flights</strong></p><p>The Massachusetts Port Authority yesterday announced that Emirates Airlines will begin daily nonstop flights from Dubai to Boston starting March 14.</p><p>The Emirates service comes with a $1.5 million sweetener, a Massport incentive program that includes landing fee credits and joint advertising opportunities.</p><p>The flights on Emirates follow announcements in the past 18 months of new international service between Logan and Tokyo, Panama City and Istanbul.</p> Business & Markets Fri, 20 Sep 2013 00:00:00 -0400 herald.staff 1063300696 http://bostonherald.com/business/real_estate/2013/09/much_needed_hub_condos_on_the_way <p> </p><p>For the past year, Bay State homeowners and potential home buyers competed in bidding wars as they targeted a dwindling supply of properties for sale. Massachusetts' housing market rebounded strongly in the first two quarters as the median sale price for single-family homes and condos jumped at double-digit rates and sales reached levels not seen since 2006.</p><p>But has the market cooled with mortgage rates up by a full percentage point over the past four months? And if so, what will the fall and winter markets look like?</p> Real Estate Fri, 20 Sep 2013 00:00:00 -0400 Jennifer Athas 1063300131 http://bostonherald.com/business/real_estate/2013/09/price_y_offices_rise_in_seaport <p>Shovels were ceremoniously lifted yesterday to mark construction already under way on the first office tower in Seaport Square, one of the largest mixed-used, master plan developments in the nation in one of the fastest growing areas of the city.</p> Real Estate Fri, 20 Sep 2013 00:00:00 -0400 Donna Goodison 1063300231 http://bostonherald.com/business/automotive/2013/09/california_adopts_ride_hailing_service_regulations <p>SAN FRANCISCO — Web-based ride-hailing companies will have to make sure drivers undergo training and criminal background checks and have commercial liability insurance under rules approved Thursday by California regulators.</p><p>The state Public Utilities Commission voted unanimously in favor of those rules and others for such companies as Lyft and Sidecar. Both companies rely on smartphone applications to connect riders and drivers who use their own vehicles.</p><p>Commissioners said the rules were needed to ensure public safety.</p> Automotive Thu, 19 Sep 2013 22:17:13 -0400 Associated Press 1063298791 http://bostonherald.com/business/business_markets/2013/09/senate_passes_bill_to_avert_helium_shortage <p>WASHINGTON — Break out the balloons.</p><p>Congress moved a step closer Thursday to averting an impending shutdown of the federal helium reserve, a key supplier of the lighter-than-air gas used in a products ranging from party balloons to MRI machines.</p><p>The Federal Helium Program, which provides about 42 percent of the nation's helium from a storage site near Amarillo, Texas, is set to shut down Oct. 7 unless lawmakers intervene. The shutdown is a result of a 1996 law requiring the reserve to pay off a $1.3 billion debt by selling its helium.</p> Business & Markets Thu, 19 Sep 2013 19:17:22 -0400 Associated Press 1063299126 http://bostonherald.com/business/business_markets/2013/09/jpmorgan_admits_fault_pays_920m_in_trading_loss <p>WASHINGTON — The financial penalty is staggering. JPMorgan Chase &amp; Co. will pay $920 million for trading losses that shook the financial world last year.</p><p>But the bigger price may be a few words rarely uttered in settlements with U.S. regulators: The nation's largest bank is also admitting wrongdoing.</p><p>JPMorgan's acknowledged failure of oversight in the $6 billion trading loss is a first for a major company since the Securities and Exchange Commission reversed its longstanding practice of allowing firms to pay fines without accepting fault.</p> Business & Markets Thu, 19 Sep 2013 18:27:41 -0400 Associated Press 1063297606 http://bostonherald.com/business/business_markets/2013/09/ex_halliburton_manager_charged_in_gulf_spill_probe <p>NEW ORLEANS — A former Halliburton manager was charged Thursday with destroying evidence following BP's 2010 oil spill in the Gulf of Mexico, a case that coincides with a guilty plea to a related charge by the Houston-based oilfield services company.</p><p>Anthony Badalamenti, who had been the cementing technology director for Halliburton Energy Services Inc., was charged in federal court with instructing two other employees to delete data during a post-spill review of the cement job on BP's blown-out well.</p> Business & Markets Thu, 19 Sep 2013 17:12:15 -0400 Associated Press 1063297266 http://bostonherald.com/business/business_markets/2013/09/man_accused_in_bogus_phone_bill_scheme_indicted <p>HELENA, Mont. — A Montana man being sued by the federal government over $70 million in charges to unsuspecting phone customers' bills nationwide is now facing criminal counts of wire fraud, conspiracy and money laundering.</p><p>The 35-count indictment against Steve Sann was unsealed Wednesday during a settlement conference in a separate civil lawsuit filed by the Federal Trade Commission over the allegations.</p> Business & Markets Thu, 19 Sep 2013 16:40:21 -0400 Associated Press 1063298406 http://bostonherald.com/business/business_markets/2013/09/americans_increasingly_hungry_for_hipster_foods <p>So maybe the chance to taste the flaky spawn of a doughnut and croissant won't get you lining up at the crack of dawn. Maybe you're holding out for a burger nestled between fried ramen noodles. Or perhaps it's the elusive McRib that moves you.</p><p>Whatever flies your foodie flag, it's hard to deny that Americans love feeling part of something deliciously exclusive, that they clamor to taste trendy, hard-to-get morsels.</p> Business & Markets Thu, 19 Sep 2013 16:30:14 -0400 Associated Press 1063298871 http://bostonherald.com/business/technology/technology_news/2013/09/tj_maxx_lets_customers_shop_online <p>NEW YORK — Deal hunters have a new online option: This week, off-price retailer T.J. Maxx has quietly begun letting its customers shop online.</p><p>Off-price retailers like T.J. Maxx buy excess clothing and home goods from other merchants and sells them at about 20 percent to 60 percent off regular prices.</p> Technology News Thu, 19 Sep 2013 15:59:17 -0400 Associated Press 1063298891 http://bostonherald.com/business/business_markets/2013/09/postmaster_says_usps_may_need_emergency_rate_hike <p>WASHINGTON — Postmaster General Patrick Donahoe said Thursday his agency is in "the midst of a financial disaster" and may need an emergency increase in postage rates to keep operating.</p><p>"The Postal Service as it exists today is financially unsustainable," he told the Senate Homeland Security and Governmental Affairs Committee. It's a message that the postmaster general has been delivering to Congress with regularity over the past several months.</p> Business & Markets Thu, 19 Sep 2013 15:18:47 -0400 Associated Press 1063297716 http://bostonherald.com/business/business_markets/2013/09/pandora_boosts_stock_offering_as_shares_hit_high <p>LOS ANGELES — Pandora stock hit an all-time high Thursday in the wake of a court ruling that should help the Internet radio giant trim its songwriter royalty costs.</p> Business & Markets Thu, 19 Sep 2013 13:54:35 -0400 Associated Press 1063298411 http://bostonherald.com/business/business_markets/2013/09/google_releases_digital_wallet_app_for_iphones <p>SAN FRANCISCO — Google is bringing its digital wallet to the iPhone in its latest attempt to upstage Apple on its own popular device.</p><p>Thursday's release of the Google Wallet app represents a challenge to the Passbook program that Apple has built into the iPhone's operating system.</p><p>Both Google Wallet and Passbook allow iPhone users to store loyalty cards from some merchants and scan coupons offering discounts.</p> Business & Markets Thu, 19 Sep 2013 13:43:30 -0400 Associated Press 1063298446 http://bostonherald.com/business/business_markets/2013/09/mass_unemployment_rate_flat_despite_7500_new_jobs_in_august <p>Massachusetts added 7,500 jobs in August but the unemployment rate stayed flat at 7.2 percent, officials said today.</p><p>The private sector added 6,700 jobs in August, as education and health services, leisure and hospitality, manufacturing, construction, information and financial activities all added to their ranks, the preliminary Bureau of Labor Statistics estimates show. Government added 800 jobs over the month and 1,600 over the year.</p> Business & Markets Thu, 19 Sep 2013 12:00:00 -0400 Marie Szaniszlo 1063298086 http://bostonherald.com/business/technology/technology_news/2013/09/mass_computer_contact_had_many_problems <p>BOSTON — A state contract for a computer system to process unemployment claims provided few protections for taxpayers and little oversight of consultants, resulting in a system that arrived years late, millions of dollars over budget, and riddled with problems, according to review of contract documents.</p> Technology News Thu, 19 Sep 2013 11:02:04 -0400 Associated Press 1063297341 http://bostonherald.com/business/media_marketing/2013/09/mass_adds_jobs_but_jobless_rate_remains_steady <p>BOSTON — The Massachusetts unemployment rate held steady at 7.2 percent last month even though the state added 7,500 jobs.</p><p>The state Executive Office of Labor and Workforce Development announced Thursday that most of the job additions came in the private sector, with the education and health services sector leading the way with about 4,100 new jobs. Leisure and hospitality, manufacturing, and construction also gained jobs.</p><p>The agency says the state has added more than 45,000 jobs in the past 12 months. Revised statistics show the state lost 300 jobs in July.</p> Media & Marketing Thu, 19 Sep 2013 09:48:39 -0400 Associated Press 1063297696 http://bostonherald.com/business/business_markets/2013/09/us_unemployment_benefit_applications_rise_to_309k <p>WASHINGTON — The number of people seeking U.S. unemployment benefits rose 15,000 last week to a seasonally adjusted 309,000. But the data was distorted for the second straight week by reporting delays.</p><p>The Labor Department says the less volatile four-week average fell 7,000 to 314,750, the lowest in nearly six years.</p><p>Applications plummeted two weeks ago when California and Nevada were unable to report all their data because of computer upgrades in both states.</p> Business & Markets Thu, 19 Sep 2013 09:22:34 -0400 Associated Press 1063297546 http://bostonherald.com/business/business_markets/2013/09/mit_president_sequester_choking_innovation_economy <p>"Drastic" federal budget cuts caused by sequestration threaten to derail major innovative breakthroughs — like an AIDS vaccine, 3D printing and digital learning — unless the Hub's business leaders lobby Congress for change, the president of MIT told the Greater Boston Chamber of Commerce this morning.</p> Business & Markets Thu, 19 Sep 2013 09:00:00 -0400 Chris Cassidy 1063297631

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Slots license bid clouded by SEC suit

The Gaming Commission yesterday grilled Penn National Gaming executives over what it called poor hiring decisions as it weighed the firm's suitability to apply for the sole slots parlor license.

Among the hires questioned was Daniel Mudd, the former CEO of Fannie Mae, who the Securities and Exchange Commission has accused of lying to Congress. Mudd was hired by Fortress Investment Group, a major investor in Penn National.

"That nobody had a concern about it is astonishing to me," commission chairman Stephen Crosby said.

"We dealt with the facts and circumstances expeditiously," said Wesley Edens, a Penn National board member, once they became aware of the SEC lawsuit.

Penn National has an agreement to buy the Plainridge Racecourse in Plainville for $42 million.

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$300M ruling due from judge in Demoulas case

The latest legal tug-of-war in the Demoulas family feud over their Market Basket grocery chain hits a Boston courtroom today, where a judge could decide whether to temporarily block a $300 million shareholder payout.

Shareholder and director Arthur S. Demoulas yesterday fired back against his rival cousin, CEO Arthur T. Demoulas, calling the latter's lawsuit seeking to unseat the board's interim chairman — and set aside some board votes taken under his leadership — as "malnourished by a severe lack of factual allegations."

The CEO's legal move is a "perverse request to obstruct the proper, lawful management of the business and affairs of Demoulas Super Markets Inc. by its board," according to court documents filed by Arthur S. Demoulas, who's been trying to oust his cousin for alleged fiscal recklessness.

The CEO alleges Keith O. Cowan should be disqualified as an independent director because he's "controlled" by Arthur S. Demoulas — in violation of a 1998 court order that three of seven directors be independent. In addition to the $300 million payout — taken from a $500 million cash balance, court documents state — votes taken since Cowan's July election that the CEO wants set aside include formation of a committee to evaluate his performance and report back on whether he should be removed.

Cowan — an attorney and former Sprint executive who previously was an "A" director elected in 2012 by Arthur S. Demoulas and his backers — also filed court documents asserting his independence and painting him as the "latest casualty" of a litigious family feud dating to 1990.

Allegations against him are "replete with the innuendo, invective and ad hominem allegations — not to mention a healthy dose of conspiracy theory — that have come to typify disputes between the Demoulas factions," but devoid of facts, the documents state.

Arthur S. Demoulas and Cowan could not be reached. Spokespeople for the board and CEO declined comment.

Board members are scheduled to meet tomorrow morning in Boston, prior to the court hearing.

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Hugging Elmo, bracelet loom on Toys R Us hot list

Will your kids be clamoring for an Elmo that gives hugs, a loom that lets you make rubber bracelets or a kid-size go-cart this holiday?

Those and others have made Toys R Us' annual list of "hot" toys that the company is betting kids will want around holiday time.

It's a crucial calculation because retailers can make up to 40 percent of annual holiday sales during the holiday season, so Wayne, N.J.-based Toys R Us needs to make sure it has the right mix of toys at the right prices.

Overall holiday spending is expected to be cautious. Retail revenue in November and December is expected to rise 2.4 percent during the biggest shopping period of the year, Chicago-based research firm ShopperTrak said Tuesday. That compares with a 3 percent increase in 2012 from 2011.

Meanwhile, Toys R Us, the largest specialty toy retailer in the U.S., has its own challenges. It's facing tough competition from discount stores and online retailers, and is in the midst of a CEO search since Jerry Storch left in February.

But executives at the privately held company say they expect a bustling season.

"Christmas always comes and parents want to give their kids items on their wish list," said Chief Merchandising Officer Richard Berry. "We're pretty bullish on what holiday looks like."

Toys R Us' list of the top 15 toys for the season is split nearly evenly between toys that are available everywhere and toys that are exclusive to Toys R Us. Exclusives help retailers compete since shoppers can't buy the toys elsewhere for cheaper.

Among non-exclusive offerings: Hasbro's Playskool Big Hugs Elmo, a $59.99 22-inch Muppet doll with flexible arms that plays songs, knows phrases and gives out hugs; LeapFrog's LeapPad Ultra, the educational toy company's latest $149.99 tablet for kids; and a $119.99 Lego set Legends of Chima The Lion CHI Temple construction set.

Exclusives on the list include a $14.99 Shimmer 'N Sparkle Cra-Z-Loom by Cra-Z-Art, which creates rubber band bracelets; a $399.99 Razor Crazy Cart go-cart for kids a Toys R Us' own $149.99 tablet for kids called the tabeo e2.

For a full list of the 15 top toys and the overall list of 36 products, go to toysrus.com/hottoys.

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Alaska asks ConocoPhillips to reopen LNG plant

ANCHORAGE, Alaska — The state of Alaska wants ConocoPhillips to reopen its mothballed Kenai Peninsula liquefied natural gas plant to provide an incentive for petroleum companies to explore and invest in Cook Inlet.

In a Sept. 5 letter to ConocoPhillips President Trond-Erik Johansen, acting Natural Resources Commissioner Joe Balash requested that the company apply for a three-year federal LNG export license for the plant at Nikiski, about 70 miles southwest of Anchorage.

ConocoPhillips in March announced it would not extend its natural gas export license beyond March 31 but said it would consider a new license if the needs of local gas markets were met and sufficient natural gas was on hand to export.

Balash said contracts are in place to support local utility needs through 2018. Concerns exist, he said, for future exploration.

"Without market opportunities for gas discoveries, companies lack the incentive to invest in continued exploration activities," he wrote. "In addition to the economic challenges this would present for those employed in the Cook Inlet energy industry, a lack of healthy exploration now may lead to supply contractions in the future as existing wells' production levels decline."

ConocoPhillips spokeswoman Natalie Lowman said Tuesday the company appreciates the state's comments and shares its interest in promoting local energy security and the local economy.

"We're going to begin evaluating this and working with stakeholders to evaluate the feasibility of resuming LNG export," she said.

The U.S. Geological Survey has estimated the Cook Inlet basin may hold trillions of cubic feet of gas, Balash said.

"More market opportunities would create a more attractive business environment for gas sales that would in turn encourage aggressive exploration," he said.

Balash also requested that ConocoPhillips install equipment that could be used to truck LNG throughout Alaska. The plant could back up plans for providing North Slope natural gas to Fairbanks and other interior Alaska communities.

Lowman said truck-rack facilities would be part of the evaluation.

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Builders: City Hall redo is hard to nail

Builders were receptive to mayoral candidate Marty Walsh's plan to level City Hall, but warned that redeveloping Government Center would be no easy feat.

"Without a doubt it's a tremendous development site because of its location and access to public transit," said developer John Rosenthal. "But I know there's a lot of constraints due to the fact the JFK federal building shares the site and there's a lot of restrictions that the federal government can put on what goes on next to it."

The Herald first reported Sunday night that Walsh is pushing a dramatic plan within the first 90 days of his administration to sell City Hall Plaza to a private developer to transform into possible office, retail, hotel and residential space. He'd also relocate and privatize City Hall and use proceeds from the entire project for education, recreation, the arts and the rainy day fund.

Suffolk Construction CEO John Fish said there would be plenty of construction challenges, including the underground T lines, utilities and soil constraints, not to mention navigating city, state and federal agencies for various approvals.

"I wouldn't dismiss any creative thinking regarding City Hall Plaza," said Fish. "It's a very attractive site that has a lot of pros to it. But it also has a lot of cons."

With a week to go, the 12 mayoral candidates are all scrambling to break away from the rest of the pack — and many wasted no time teeing off on Walsh's plan yesterday.

"It seems like a make work project for Marty's unions," Suffolk District Attorney Daniel F. Conley said Boston Herald Radio's "Morning Meeting" show yesterday. "It's not an original idea. It's not innovative."

Mayoral contender Michael P. Ross even called a press conference in Uphams Corner, hammering Walsh for focusing on the downtown while neglecting neighborhoods.

"I do not think this is a game-changer," Ross told the Herald. "It's the same old issue that's been tossed around for decades."

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State bill eyes easing of fed flood insurance rates

State lawmakers will hold a hearing today to see if they can bring relief to thousands of Massachusetts homeowners and businesses facing a dramatic rise in flood insurance rates under new federal law and a redrawing of flood lines by the Federal Emergency Management Agency.

House Bill 865 would have the state insurance commissioner investigate how rates are set by the National Flood Insurance program and make suggestions to ensure that rates are not excessive.

State Rep. Jim Cantwell introduced the bill because of FEMA's decision to redraw flood lines and because the Biggert-Waters Flood Insurance Reform Act of 2012 will do away with the grandfathering of properties that used old flood-risk data.

"This is the most significant fiscal threat to coastal communities and inland communities that have water running through them because rates in some instances are quadrupling," said Cantwell (D-Marshfield).

Kerry Bogdan, senior engineer at FEMA, said the agency updated its maps for every coastal community in Massachusetts because "key updates to engineering and modelling approaches were not accounted for in the 1980s maps."

Her explanation comes as little solace to Mitch Haddad of Haddad's Ocean Cafe in Marshfield, who said he and his brother rebuilt their restaurant last year 2 feet above the then-required elevation at a cost of $3.3 million, only to learn six weeks ago that the new required elevation is another 3 feet higher.

"It's just insane," Haddad said. "We tried to be proactive. ... We certainly could have built it another 3 feet higher."

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Tech talk on tap at cop confab

Tech companies are targeting the law-enforcement market as 3-D printing, Google Glass and other advances open new crime-fighting frontiers — innovations to be showcased at a conference in Cambridge this week that is drawing cops from around the country.

"Technology can help in every aspect of policing," said Dan Riviello, spokesman for the Cambridge Police Department and co-director of the two-day Police Innovation Conference at Microsoft New England, where representatives from police departments including Boston, Cambridge, New Mexico and Michigan will work to improve their use of technology and learn how to use new technology.

"As police forces have had to downsize because of the recession, their workload hasn't decreased," said Joe Rozek, executive director of homeland security and counterterrorism for Microsoft, who helps to put together "fusion centers" — police hubs where cameras, sensors and other real-time information can be collected and disbursed to responders.

"(The center) takes the information and raw data and turns it into actionable intelligence," Rozek said.

The conference will touch on social media, but also new and emerging technologies, like drones and 3-D printing.

"There's a lot to learn about and to harness and to understand. It's all moving very fast," said Peter Olson, founder of WiredBlue, makers of an app police departments can sign up for to better connect with the public.

Riviello will be speaking about the CPD's unique use of Twitter, where dispatch calls are automatically tweeted with the reason for the call and rough location.

"We think an informed community is a safer community," he said.

Mutualink, a Westford company that creates a secure method of interagency communication that is private for both parties, will show off its method for giving hands-free context and tactical awareness to first responders using Google Glass.

That would allow police responding to an incident to see vital information — like a map or surveillance camera feed — without using their hands. For example, in a school shooting, the school could provide law enforcement with a map and live feeds of video cameras that show up on Glass so first responders could make better and quicker decisions.

Still, all the information in the world is only as useful as the back-end system to put it together, experts said.

The key, Rozek said, is not looking at one technology as the "end-all solution."

The answer, and the way to use technology, "is one based on logic and reason."

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Harvard profs target cure for Lou Gehrig’s

Two Harvard stem-cell scientists are teaming up with a German biotech company to expand the search for a cure for Lou Gehrig's Disease.

Harvard University professors Kevin Eggan and Lee Rubin will conduct amyotrophic lateral sclerosis trials in partnership with Evotec, the university and the company announced.

"We're not a pharmacy company and they're set up for this," said Harvard science spokesman B.D. Colen. "We are doing some of that already, but they're able to do it on a much larger scale."

ALS destroys nerve cells in the brain and the spinal cord, eventually leading to paralysis and death. There is currently no known cure or treatment that halts or reverses ALS, although several drugs in clinical trials hold promise.

The new amyotrophic lateral sclerosis trials will expand on Eggan and Rubin's brain motor neuron research and is the university's fourth collaboration with Evotec. The company is led by the former student of another Harvard researcher whose hormone treatment of diabetes sparked an earlier Evotec deal, said Colen.

Eggan, the first researcher to link the deterioration of motor neurons with the onset of ALS, is known for his development of a revolutionary use of stem cells in research that spares patients the danger of taking experimental drugs across the spectrum of human disease, Colen said.

"It literally moves the disease out of the patient and into a lab dish so then you can use it to screen for possible drug treatments," Colen said,

The finances for the ALS deal are confidential, Colen said. "But if ... down the road this does prove successful and it becomes a drug, there will be revenue coming back to the discoverers and to the university."

Efforts by former Gov. Paul Cellucci to fight the debilitating disease that claimed his life did not contribute directly to Rubin and Eggan's research, Colen said, "But in terms of making Massachusetts a hospitable environment to do this kind of research, absolutely."

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Ponzi schemes proliferate

The Securities and Exchange Commission and law enforcement continue to see a steady stream of Ponzi schemes nearly five years after the Bernard Madoff scandal rocked the securities world.

Since fiscal year 2010 alone, the SEC has brought more than 100 enforcement actions across the nation against nearly 200 people for carrying out Ponzi schemes, prompting the commission to launch a Web page in 2011 for whistle-blowers to report violations of federal securities laws and apply for a financial award.

"Investors should continue to be wary of Ponzi schemes, which we steadily uncover and prosecute in regions throughout the country," said Kevin Callahan, an SEC spokesman. Red flags, such as promises of extraordinarily high returns with little or no risk, can signal that something may be amiss."

Among the recent local cases is that of Steven and Lori Palladino of West Roxbury, who were indicted earlier this year for allegedly running a multimillion-dollar Ponzi scheme. Prosecutors allege the couple used their company, Viking Financial Group, to borrow investors' money, which often went into the Palladinos' personal bank accounts to fund their lavish lifestyle. Money from new investors then allegedly was used to repay earlier ones and make monthly payments to all of them. But prosecutors allege it didn't stop there. Earlier this month, Palladino also was charged with one count of usury, or loan-sharking, for allegedly demanding a 40 percent interest rate on a loan his company made to a businesswoman.

"He's continuing to buy time, but inevitably, he needs to answer where our money is," one of their alleged victims, who declined to give his name, said of Steven Palladino. "History tells us we don't always get back what we've lost. But we do want to see justice served."

Prosecutors in the Economic Crimes Unit of the U.S. Attorney's Office in Boston make a point of bringing victims to perpetrators' sentencings so that judges can see firsthand that the impact of the crimes goes beyond dollars.

"People literally find overnight that they're destitute," said Assistant U.S. Attorney Paul Levenson, whose unit has prosecuted 13 Ponzi schemes in the last five years.

Beginning in November, Levenson's office will hold a series of forums to warn the elderly in particular of the dangers of investing with people who promise inordinately high returns.

"It's clear that it is prevalent. It's a form of violence, a form of sociopathology.
 And I think it's becoming increasingly defined that way," said Gaytri Kachroo, a lawyer who has represented hundreds of Madoff victims.

People frustrated with low bank and bond rates "make a very appetizing opportunity" for perpetrators, said Secretary of State William Galvin, whose office has taken action against seven schemes in the past five years.

"The problem with Ponzi schemes is finding them," Galvin said. "They strive for secrecy. When we hear about them, all you have to do is follow the money. The problem is you don't hear about them until they default. It's like a game of musical chairs. Ultimately, the music has to stop, and you're going to be one chair short."

Antonio Planas contributed to this report.

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Prep test for MBA goes mobile

It took Elad Shoushan five tries to master the Graduate Management Admission Test. But Shoushan turned his circuitous route to Massachsuetts Institue of Technology's Sloan School of Management to his advantage by developing an app that he claims is cheaper, more convenient and ultimately more effective than any test-prep course on the market.

The 31-year-old Israeli native used his experience as a serial GMAT underachiever and former professional basketball player to figure out what he'd been missing.

"As a basketball player, it was very simple to identify what I needed to improve," he said. "But with the GMAT, it's really hard to focus on one weakness at a time."

So in 2012, he founded LTG Exam Preparation Platform, a mobile learning platform for standardized tests. The company's first product, Prep4GMAT, is available for the iPhone and iPad, and categorizes questions based on what concepts they're testing.

When a user gets a question wrong, the app breaks it down based on keywords. Over time, Shoushan said, the app helps the user focus more quickly on keywords inside questions, associating them with the concepts learned.

"You start to see where your deficiencies are so you can really hone in on those areas," said Tarlin Ray, Shoushan's mentor in the 
$1 million startup competition and accelerator MassChallenge, where he is now a finalist.

This approach of dissecting a test through pattern recognition, coupled with the fact that LTG was built "from the ground up" to be a mobile company, distinguishes it from other test-prep companies, said Ray, including Kaplan, where he worked for 3 1⁄2 years.

"It's almost like you have a coach in your pocket," he said.

Alba Medina, 28, needed a 650 on the GMAT to get into a top-10 graduate school. So for help, she turned to three programs — Manhattan Prep, Veritas Prep and Knewton.com — spending between $300 and $800 on each.

"After failing four times, I was desperate," Medina said.

So she tried LTG for $20, she said, and improved her score by 120 points, just enough to get into MIT.

"I didn't have to carry around books with me," Medina said. "The software discovered my weaknesses, so it was easy to concentrate on them."

LTG's other advantages are that it doesn't require users to log into a website that might not be available if they don't have an Internet connection, and, for the next few weeks, it's also free until Shoushan and his team finalize LTG's premium version, which will cost between $30 and $50.

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