Massachusetts employment sets record
BOSTON – While the jobless rate last month in Massachusetts rose above 3 percent to 3.1 from the 2.9 percent level of April, the number of people employed in the state set another record last month of 3.218 million, even though the pace of new jobs fell off. With the 900 new jobs in May contrasting sharply with the 7,600 created in May, it still represents record growth in the state over the last four months with 24,000 jobs created during that period, according to the state Division of Employment and Training.
Pentucket Medical near link to Partners
HAVERHILL – Pentucket Medical Associates announced last week it was beginning “final discussions” about joining Partners Health Care System and expects to conclude the discussions by the end of the summer. Pentucket, the largest physicians group on the North Shore, with 63 affiliated doctors, reportedly serves more than 100,000 patients. Partners recently announced that it had sustained operational losses of $38.8 million over the first six months of the current fiscal year, ended March 31. The major participants in Partners are Massachusetts General Hospital and Brigham and Women’s Hospital, both in Boston. Pentucket, which is a profitable organization, has been seriously courted since putting itself on the market last fall.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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Ocean Spray Cranberries chief to step down
WELLFLEET – Thomas E. Bullock, chief executive of Ocean Spray Cranberries, Inc., for the last three years will step down next year, the third Ocean Spray executive to announce his departure this year. Bullock, 53, has been with Ocean Spray for 18 years, and according to the company will assist the cooperative’s board of directors in finding his replacement.
Raytheon reports agreement on Airbus plan
LEXINGTON – Raytheon Co.’s aviation unit reports it has reached agreement with Airbus Industrie, the European consortium, for exclusive cooperative development of a military tanker aircraft. Raytheon’s Aircraft Integration Systems and Airbus, under the agreement, will become the design authority for the planned Multi Role Tanker Transport, according to Raytheon. The aircraft would be offered (at least initially) to Australia and Turkey, Raytheon reported.
Physiometrix dropped by NASDAQ, shifts to OTC
BILLERICA – Physiometrix, Inc., a manufacturer of noninvasive patient neuromonitoring devices for use during surgical procedures announced that its stock would now be included for quotation on the OTC, rather than the NASDAQ National Market. It was determined that the company no longer met the minimum market value standards of either the NASDAQ National or the NASDAQ SmallCap Market.
TI to acquire Israeli chip maker
DALLAS, Texas – Texas Instruments, which employs several thousand workers in the Attleboros, announced it had agreed to acquire Libit Signal Processing Ltd., a maker of computer chips and parts for cable TV and set-top boxes in Israel for $365 million. Dow Jones quoted a company spokesperson as saying the acquisition would enable TI to extend its domination of the market for digital signal processors technologies into all segments of the broad-band communications area providing high speed voice, video image and data transmission.
Lotus to add Lycos Net service
ARMONK, N.Y. – In a maneuver considered an attempt to get an edge on Microsoft, Inc., IBM, Inc., announced that it was adding Lycos Inc.’s Internet service to its Lotus Notes software. Terms were not disclosed. Lycos, of Waltham, the third largest on-line directory, will provide news and stock prices tailored for individual users of Lotus. IBM reportedly hopes that by adding more services to its Lotus system, it will set itself apart from Microsoft whose Exchange software is threatening Lotus’ groupware lead. Although Lotus has more than 37 million customers worldwide, Microsoft added more new customers in the first quarter than Lotus, with 4.6 million compared with Lotus’ 3.8 million.
Firm boosting Internet performance
CAMBRIDGE – Akamai Technologies, Inc. has signed contacts to improve the Internet performance of 20 top World Wide Web sites. Among the signees are Time Warner Co.’s Cable News Network and Disney’s Go Network. Akamai, using software developed by Frank Leighton, an MIT mathematician, and using a worldwide network of server computers, would speed up the distribution of pictures, advertisements, audio and video clips over the Internet. Terms of the deals were not disclosed, but Akamai charges each company by the amount of data transmitted through the system.
Raytheon gets British radar contract
LEXINGTON – Raytheon Co. has a $1.3 billion order from the British Ministry of Defense to build and maintain its Airborne Standoff Radar for use by 2003 by the country’s army and air force. A spokesperson for the company’s London-based subsidiary said it is expected that about 2,500 persons would be hired for the project, mainly in Northern Ireland, Scotland and Wales.
