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Japanese fashion giant eyes Boston

Written By Unknown on Rabu, 08 Januari 2014 | 12.32

Japanese casual clothing retailer Uniqlo yesterday confirmed plans to enter the Hub market in the fall.

But the company, which planted a U.S. foothold in New York in 2006, wouldn't disclose when and where.

"We plan to open a couple of stores in the Boston market in the fall, and the specific opening dates or where … is still being determined," said Larry Meyer, CEO of Uniqlo USA and senior vice president of Japanese parent company Fast Retailing. "It's a great city. I think there's an appreciation for our fashion."

The Herald reported last month that plans submitted to the city by Faneuil Hall Marketplace operator Ashkenazy Acquisition included Uniqlo as a tenant for one of two new two-story tenant spaces in a proposed redesign of Quincy Market.

Meyer declined comment on whether Uniqlo had a deal with Ashkenazy. "We're in talks with quite a few landlords in the Boston area," he said. "It's not unusual for landlords to put our name on various lease plans."

Billed as the world's fourth largest clothing retailer, Uniqlo has 1,300-plus stores in 14 markets worldwide, including 17 in New York, New Jersey, Connecticut and California. Yesterday, it said it would open five more U.S. stores this spring and enter the Philadelphia and Los Angeles markets, in addition to Boston, in the fall.

The company typically first opens a flagship store in a new market and then expands in close proximity, to area malls, for example.

"We're very pleased with the performance of all (U.S.) stores," Meyer said. "There is enough interchange between New York — Manhattan, particularly — and Boston, that my sense is people from Boston know our stores and products."


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State unveils new health email system

The state today is launching a secure email system that will allow health care facilities to share patient records — but only after patients give consent.

The goal of the Mass 
HIway Health Information Exchange is to prevent errors, reduce unnecessary tests and trim costs, for example, by helping emergency physicians learn about patients' allergies before treating them.

"This will enable physicians to have a clearer picture about what's going on in a patient's health," said Dr. Michael A. Lee, director of clinical informatics at Atrius Health.

More than 50 health care providers have joined the Mass HIway exchange, which went live in 2012 but until now didn't have a mechanism for requesting patient records.


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3 challenges awaiting Yellen as next Fed chairman

Written By Unknown on Selasa, 07 Januari 2014 | 12.32

Janet Yellen, confirmed Monday evening to succeed Ben Bernanke as chairman of the Federal Reserve, will confront numerous challenges when she begins the job Feb. 1. Here is a look at three of them.

BOND PURCHASES

The Fed announced in December that the job market had strengthened enough for the central bank to reduce the extraordinary stimulus it's given the economy since the Great Recession. The Fed said it would trim its bond purchases from $85 billion a month to $75 billion starting in January. The bond purchases have been intended to keep long-term borrowing costs low to stimulate borrowing and spending.

Economists expect further modest reductions of around $10 billion a month. The bond purchases could be phased out altogether by year's end if the economy keeps improving.

Despite paring its new purchases, the Fed said in December that it would keep reinvesting its bond holdings. The bond purchases have raised its investment portfolio above $4 trillion — four times its size before the financial crisis.

The Fed will need to be careful in navigating the wind-down of its bond purchases. If it moves too fast, it could spook financial markets, sending stock prices plunging and interest rates rising. If it acts too slowly, it could run the risk of creating asset bubbles in areas of the economy from stocks to real estate.

GUIDANCE ON SHORT-TERM RATES

Investors will carefully watch Yellen for any signal that the Fed is preparing to raise its key short-term interest rate, which affects many consumer loans.

The rate has been near zero since December 2008. Last month, the Fed revised its guidance to say it plans to keep that rate ultra-low "well past" the time when the unemployment rate hits 6.5 percent. The rate reached a five-year low of 7 percent in November.

The Fed foresees unemployment falling as low as 6.3 percent this year. Many economists think the first increase in the Fed's short-term rate won't occur before late 2015. But if unemployment falls faster or more slowly than that, Yellen might feel the need to modify the Fed's guidance.

FED INDEPENDENCE

The Fed's efforts to rescue the U.S. economy from the recession and financial crisis have made it a target for criticism. Some Republicans argue that the central bank isn't accountable enough to Congress.

Jeb Hensarling, the Republican chairman of the House Financial Services Committee, plans to examine whether changes should be made to the Fed's operations. Fed supporters worry that Congress could end up weakening the Fed's independence. They argue that its independence is critical to assuring markets that the Fed's actions aren't being swayed by political interests.

Last week, Bernanke criticized legislation that would give the Government Accountability Office the power to expand its audits of the Fed to review decisions on interest rates. The GAO, the auditing arm of Congress, can currently conduct audits of the Fed. But it's barred from investigating interest rate decisions.


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China caution, US data subdue Asian stocks

Caution about China's economic prospects kept Asian stock markets subdued Tuesday.

Investors are also awaiting economic events in the U.S. with Federal Reserve minutes due Wednesday and a monthly jobs report on Friday.

Japan's Nikkei 225 fell 0.7 percent to 15,795.32 while Hong Kong's Hang Seng added 0.3 percent to 22,762.29. China's Shanghai Composite Index gained 0.2 percent to 2,048.74. Australia's S&P/ASX shed 0.1 percent to 5,317.40 and Southeast Asian markets were mixed.

Confidence was weakened by lackluster services industry activity in the U.S., Wall Street's fall and recent signs of renewed weakness in China's manufacturing.

"China is defiantly in play right now," said Chris Weston, chief market strategist at IG in Melbourne, Australia. "We certainly aren't seeing the sort of flows that suggest the Chinese and Hong Kong markets are going to see double-digit appreciation this year."

On Wall Street, the Standard & Poor's 500 notched its worst start to a year in almost a decade Monday, closing lower for the third straight trading day.

It fell 4.60 points, or 0.3 percent, to 1,826.77. The Dow Jones industrial average dropped 0.3 percent to 16,425.10. The Nasdaq composite fell 0.4 percent to 4,113.68. Although the declines for stocks in the New Year have been modest, the direction has been consistently down.

On Monday, data showed U.S. service companies grew at a steady but slightly slower pace in December. Sales dipped and new orders dropped to a four-year low, according to a report from the Institute for Supply Management. It suggests growth may remain modest in the coming months.

The most closely watched economic report of the week will come on Friday, when the Labor Department is scheduled to release its jobs survey for December. That's going to influence the Fed's decision on how fast to reduce its bond purchases in the coming months. The Fed has been buying $85 billion worth of bonds each month to keep long-term interest rates low to boost borrowing and spending.

In currencies, the euro dropped to $1.3625 from S1.3634 late Monday in New York. The dollar rose to 104.56 yen from 104.20 yen.

Benchmark oil for February delivery was up 21 cents a barrel to $93.64 in electronic trading on the New York Mercantile Exchange. The contract fell 53 cents to close at $93.43 on Monday.


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Sloan ‘Tech Trek’ students hit road

Written By Unknown on Senin, 06 Januari 2014 | 12.33

Dozens of MIT Sloan School of Management MBA students will test the job market waters this week when they visit some of the nation's top companies on their annual job-hunting, network-building 
"Tech Treks."

This year's treks will include stops in Seattle and San Francisco to visit tech titans such as Microsoft, Apple, Facebook and Google, as well as Los Angeles and Las Vegas to visit media and entertainment companies such as Sony, Warner Brothers and MGM — the company that wants to build a resort casino in Springfield.

"It's one thing when they come to campus and talk in the abstract about the kind of company they are; it's quite another to be able to go to their headquarters and see how everyone interacts," Zachary Freeman, 27, of Swampscott said. "You get a much more up-close and intimate understanding of those companies, which will help us get a better idea of what we want to do in that space."

Freeman, one of three students who organized the trips to Seattle and San Francisco, said it's a testament to Massachusetts Institute of Technology's brand and alumni base that they were able to set up meetings with executives at so many top-tier companies.

"I'm cautiously optimistic that I'll be able to find a job that gets me started on the road toward being able to design my own product, something that's based on a community," he said. "Mobile web applications are allowing communities to be formed in ways that weren't possible previously. But it's pretty clear there's still a lot of unemployment. So just because I'm in a particular program like MBA, or just because I'm interested in technology, it seems naive to assume I'll be able to find a job. I don't expect it to be handed to me. I have to earn it."

Unlike Freeman, Michael DiBenigno, 26, of Atlanta hopes to have his own startup or work for one in the entertainment or media industry after he graduates next year.

A startup's chance of success today might be better than it was at the height of the recession, he said, "but it might be harder to attract talent if that talent is being recruited by larger, more established organizations."

That's good news for other MBAs such as Jarek Langer who aren't looking to start their own companies straight out of school.

"The opportunities are out there," Langer, 29, said. "Companies are recruiting heavily. They're looking for people to have this kind of MBA and the knowledge that comes with that."


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Inauguration brings pressure

Days before Martin J. Walsh's inauguration, organizers drove across the state, hand-delivering about 100 credentials and parking passes to performers because FedEx could not guarantee delivery because of last week's storm.

For more than a month, a team of event organizers, politicians and administration officials have been making plans, fixing problems and averting crises.

"It's so many different organizations and parties and considerations," said Denise Kirk, head of Brattle Entertainment in Cambridge, a co-producer of the events. "There's so much detail it's unbelievable."

Inaugurations come with extra complications, Kirk said. By law, Walsh must be officially sworn in by noon.

To go with the expected details are surprises, good and bad.

Bryan Rafanelli, head of Rafanelli Events, spent part of Friday night trying to find a place for thousands of balloons that had been unexpectedly donated.

"We're scrambling," Rafanelli said Friday. "We are right now going through all of that ... how can we work with this donation and make this look awesome and cool?"

For Kirk, the snow threw a wrench into the plans to mail credentials and parking passes to musicians and performers for the Boston College event.

"A whole group of us have formed a convoy and we're going to spend the weekend hand-delivering them to everyone," Kirk said late last week. "It's all over the South Shore, west of the city, north of the city."

Rafanelli, who is helping to put on the celebration that includes Blue Man Group, the Dropkick Murphys and others, managed to skirt any snow complications.

"We moved in all of our sound and lighting equipment and actually gave it to First Night," Rafanelli said. "All our lights were hung, our backdrop is up. We outsmarted the storm."

Kirk, Rafanelli and their partner Live Nation all are veterans of political event planning — Rafanelli put on many of Mayor Thomas M. Menino's inaugurations — but they say inaugurations take something special.

"Every single person working on this has worked eight to 12 hours every single day, including Christmas Eve, the day after Christmas, New Year's Eve, New Year's Day, Saturdays, Sunday," Kirk said. She said there is "absolutely" more pressure to get things right.

This is all while preparing to host several high-profile politicians and dignitaries, including Cardinal Sean O'Malley.

Walsh's inaugural committee has been co-chaired by a range of politicians and community representatives, including U.S. Rep. Stephen Lynch and Felix D. Arroyo, the father of former mayoral candidate Felix G. Arroyo, co-chairman of Walsh's transition team and his newly appointed health and human services chief.

"He made it very clear to us at the outset that it was very important to him that this event be one Boston. It was very important to him that we don't lose sight of that," Kirk said.


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Audi SQ5 SUV is spacious and sporty

Written By Unknown on Sabtu, 04 Januari 2014 | 12.33

The SQ5, Audi's first utility vehicle available in a sport version, has the capacity of a midsize vehicle with the performance and handling of a sport sedan.

Our tester with its blue paint and 21-inch wheels had an understated appearance that shrouds the SQ5's power and performance. A 3.0-liter, supercharged V6 produces 354 horsepower that was accentuated by a beefy exhaust note. An eight-speed Tiptronic transmission made acceleration silky smooth and provided the option to shift manually. Paddle shifters on the steering wheel were useful for a quick downshift for highway passing.

The Audi's throttle response was swift and I was pinned back in the seat while accelerating on straightaways. The SQ5's sport suspension reduced body roll through tight turns. Ride quality remained reasonable considering its size and weight.

Audi's quattro permanent all-wheel drive that sends power to wheels with the most grip gives the SQ5 an edge on both dry roads and in adverse driving conditions. Our tester's low-profile tires would have to be replaced for the snow. The SQ5 yields an average of 19 miles per gallon in fuel economy and burns premium fuel.

The SQ5's black interior was highlighted with a bulging flat-bottomed steering wheel and supple Nappa leather seats. Heated front bucket seats were comfortable and reduced fatigue on long drives. Extended seat belt buckles that stayed on top of the rear seats made strapping in our children with boosters a breeze. A panoramic sunroof made the interior feel much larger. Audi takes navigation to another level with its system enhanced with Google Earth satellite imagery that provides a realistic picture of the route. Other interior highlights were an excellent Bang & Olufsen sound system with 14 speakers, a rearview camera, thermal cupholders and a three-zone climate control system.

Many of the interior features were part of a $7,500 prestige package that was included in our $64,770 tester. The SQ5 has a base price of $51,900. My only gripe with the SQ5 was the location of the cruise control stalk. It's difficult to see behind the steering wheel, which made it hard to use.

A non-sport version Q5 with a turbocharged four cylinder starts at $37,700. Audi also offers the Q5 with hybrid and turbo diesel engine options. Other SUVs to consider are the BMW X3, the Land Rover Evoque, or the Volvo EC60.


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Cold weather stalls U.S. auto sales in December

U.S. auto sales fell short of expectations last month, thanks to strong November sales and cold December weather, but the industry is in a good position for 2014, experts said.

General Motors sales fell 6.3 percent last month, Toyota sales fell 1.7 percent, and Ford and Chrysler both missed analysts' expectations.

Still, the industry had its best year since 2007, and the Ford F-series truck was the top-selling vehicle for the 32nd year.

Chris Hopson, an auto analyst for IHS, said he sees a recent trend of strong sales continuing.

"If you look at this five-month period as a whole, it reflects a nice running rate for sales," Hopson said. "The strength that we've seen in the second half of 2013 will continue in 2014."

Hopson said auto sales will follow the trajectory of the economy as a whole.

"We're hoping that sales are going to be supported by a recovery economy," Hopson said.

Both analysts and automakers blamed poor weather for slow sales at the year's end.

"When you start taking a look at the end in terms of when we closed in the month of December, there was some bad winter weather," said Erich Merkle, U.S. sales analyst for Ford.

Michelle Krebs, an analyst with Edmunds.com, said, "The sales pace at the beginning of the month was slower than expected as a lot of places were hit by bad weather."

Hopson said the end of November was strong, and that may have played a factor in the slow month.

"It looks like the pace of sales might have been attributable to sales in November," Hopson said.


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Kitchens, baths go for simplicity

Written By Unknown on Jumat, 03 Januari 2014 | 12.32

If you're aiming to create kitchens with a unique look and bathrooms with atmosphere, think gray, silver and white rather than beige and brown, say local kitchen designers.

Black granite counters and cherrywood/maple/oak cabinets in the kitchen along with beige ceramic tile bathrooms have been done to death, and homeowners are yearning for something different.

"There's a move away from granite countertops to quartz counters that are easy to maintain and come in a lot of solid colors," says Mariette Barsoum, principal at Divine Kitchens in Wellesley.

Barsoum says that people are looking for cleaner lines and simplicity — tall, flat-panel cabinets painted white or light gray rather than stained wood.

Cassia Wyner of CW Design in Brookline is doing more transitional kitchens, ones that combine traditional and contemporary styles. She has been mixing color schemes — white, grays, taupe and even red.

"New England tends to be conservative," she says. "But my clients, many of whom own old Victorians, are getting more adventurous by adding color, creating two-tone kitchens that are more modern-looking."

The two-tone color scheme is also coming to bathrooms, says Mary Porzelt, manager of Boston Kitchen Designs in Needham.

"Bathrooms are going for the Zen minimalist look," says Porzelt. "People are doing creams and light grays with dark wood vanities."

Kathie Bonchack, showroom manager at Frank Webb's Bath Center in Bedford and Needham, says she is selling more larger-sized 18-by-18 inch and 12-by-24 inch tiles for bathroom floors and shower and tub walls.

"Smaller tiles are out," said Bonchack, "and wall-mounted vanities and toilets are in. And we're also seeing chrome fixtures, which are the best value, making a real comeback."

One noticeable trend in bathrooms is the look of tubs.

"People are walking away from the jacuzzi with marble surround in favor of free-standing soaking or air jet tubs," says Barsoum.

To get a unique bathroom look, Wyner points clients to porcelain tile, which comes in a wide variety of stylish textures and colors.

"Porcelain tile is just exploding in bathrooms," she says. "It really looks like stone."

Designers say people don't have to spend a lot more money to create a stylish kitchen. Quartz counters cost about the same as granite, and some of the most reliable and attractive appliances aren't the high-end brands.

As for kitchen sinks, there are some new choices besides the ubiquitous stainless steel, with soapstone and farmer's sinks becoming popular. New sinks that are 80 percent granite and 20 percent resin can add color. And while stainless steel appliances are still king, designers say, black and glossy-finish white appliances are making inroads.

LED recessed lighting, which now comes in warmer, yellower tones, has come into its own, and LED strips are being increasingly used for under-cabinet lighting or in tray ceilings.

Kathy Cremone, design manager of Carole Kitchen & Bath Design in Woburn, says she's seeing more wood than tile on kitchen floors to make them look bigger and blend in with adjacent rooms. But bamboo wood floors are out of style, as the softer wood loses its luster quickly and dents easily.

"Everyone wants a kitchen that looks like a chef owns it but never uses it," Cremone said. "They want 60-inch stoves, double ovens, oversized refrigerators. You have to bring people down to reality and to what they can afford. You don't design for the Taj Mahal for a little house on the corner."


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Unifying Boylston St.

The city is eyeing a 10-year reconstruction project to unify the streetscape of one of Boston's major commercial streets.

The Boston Redevelopment Authority is seeking a consultant to develop new design standards for the sidewalks of Boylston Street, from the Fenway to Arlington Street in the Back Bay, where the thoroughfare is the neighborhood's commercial "spine."

"Boylston Street is one of Boston's premiere shopping, dining and tourist destinations," BRA spokeswoman Melina Schuler said in a statement. "The Boylston Street design study will lay the groundwork for the future reconstruction of the street, which seeks to improve sidewalk conditions while preserving the distinct character of the pedestrian experience."

The BRA has budgeted $300,000 for the consultant to develop recommendations that will cover the sidewalks, including pavement materials, from the curb line to the building faces on both sides of the street in the 10-block area.

In 1991, the city hired consultants to create a master plan for unified Boylston Street improvements block by block.

Since then, the BRA and Back Bay Architectural Commission have been "primarily responsible for the design review of new development along Boylston and mandating the implementation of the design standards and material palette, but with varying degrees of success," the BRA's request for proposals states.

The two sides of Boylston Street have different design identities — the south side is comparatively modern and aligned with the city's "high spine," an urban design concept that's governed development of many office and residential towers. The north side, where projects have been more "piecemeal," is monitored by the BBAC, which has preserved the historic architecture and provided generous sidewalk widths, according to the city's request for proposal.

While design standards have been maintained on the street's north side, the "application and construction of projects have been diverse, with mixed results," according to the RFP.

The new design standards also will incorporate the city's "Complete Streets" program adopted in 2009 to create multi-modal, green and "smart" streets suitable for cars, pedestrians, people with disabilities, bicyclists and public transportation.


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