Governor announces worker training grants
BOSTON – Gov. Paul Cellucci announced grants totaling $3.2 million to employers to train 6,000 workers in information technology (IT). The money is drawn from the state’s $1 billion trust fund for training. The Massachusetts of Employment and Training will administer the program.
Seafood firms make way for Convention Center
BOSTON – Atlantic Seafood, Inc. and AB Seafood Co., sister companies have reached agreement with the Boston Redevelopment Authority to vacate their space on the South Boston waterfront by March 3 to enable developers of the city’s new convention center to start construction this spring on the $700 million project. The seafood companies are expected to move their operations to the Newmarket area.
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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Polaroid rally continues
CAMBRIDGE – Polaroid Corp. reported a strong fourth quarter with earnings of $28.5 million or 64 cents a share, attributed largely to sales of its new instant picture cameras. Sales were reported up to $648.9 million compared with $541.8 million in 1998. After 10 years of stagnant sales of about $2 billion annually. In 1999 the company broke its 1978 record for sales with 9.7 million instant cameras sold. Many of its sales are related to Polaroid’s shift in its target to a more youthful audience with its first disposable camera, called PopShots and its low cost camera, the JoyCam. The company also reported 400,000 digital cameras sold, most of them through mass market venues such as Wal-Mart. Meanwhile the company disposed of some of what are non-core businesses, such as its fiber optics business and the antiglare filters for computers.
Shuttle America to add Hanscom flights
BEDFORD – Shuttle America, the discount commuter airline operating from Hanscom Field, announced that it will begin flights to Greensboro, N.C. and add service to Trenton, N.J. Starting Feb. 13, the airline announced seven flights will link Bedford with Trenton. Three of those flights will continue on to Greensboro. Meanwhile the airline said it would discontinue service to Islip, Long Island, N.Y. and Wilmington, Del. Three daily flights to Buffalo, N.Y. are being continued, the airline reported, adding that it is seeking permission to provide daily service to LaGuardia Airport in Flushing, N.Y.
Kresge awards Wheaton a challenge grant
WHEATON – The Kresge Foundation has approved a $1 million challenge grant for Wheaton College when the college successfully raises the $18 million it needs for the renovation and expansion of Meneeley Hall and the renovation of Watson Fine Arts Center. The college, which is in the last year of its fund-raising campaign, has set its deadline for June 1, 2001.
Fall River receives $1.5 million for revolving fund
FALL RIVER – Fall River has been awarded a total of $1.5 million in low-interest loans for its Revolving Loan Fund. The awards–each for $750,000– are from the Fleet Community Development Corporatiopn and the Massachusetts Life Insurance Community Investment Initiative. These awards bring the loan pool under the supervision of the Fall River Office of Economic Development to $9,902,426, Of that amount, the FROED announcement reported, $5,276,000 is available for loans.
Painting found in church sells for $1.1 million
WEST NEWBURY — An Italian masterpiece that was discovered in a West Newbury church attic sold at auction for $1.1 million. Members of All Saints’ Episcopal Church and its pastor, Rev. Bill Murdoch, attended the auction of “Madonna and Child” by Andrea del Sarto at Sotheby’s in New York. Murdoch said the money will be used to maintain the church,
The Eagle-Tribune of Lawrence reported. The painting was bequeathed to the All Saints’ Episcopal Church in 1935, but parishioners thought it was a copy of the original painting by del Sarto, a leader of the Florentine Renaissance who died in 1530. The piece hung in a choir stall until about 1980, when parishioners decided it was too ornate and took it down.
Gillette reports decline in sales and earnings
BOSTON — Gillette, the troubled leader of the world’s shaving products industry, reported declining profits in the fourth quarter as sales slumped in most key product lines. The company’s net income for the three-month period ending Dec. 31, 1999 was $339 million, down from $435 million in the same period of 1998. Earnings per share dropped from 39 to 32 cents, meeting the expectations of analysts surveyed by First Call/Thomson Financial. Sales for the quarter fell from $3.18 billion in 1998 to $3.04 billion in 1999. In October, Gillette warned investors to expect a decline in sales and profits as it worked to fix problems in underperforming sectors.
American Home Products settles Fen-Phen lawsuit
CAMBRIDGE — American Home Products settled a lawsuit with the family of a Quincy woman who died after taking the fen-phen drug combination in an attempt to lose weight for her wedding, the company announced. Terms of the deal with relatives of Mary J. Linnen were not released, but the Madison, N.J.-based company said much of the settlement will be used to fund a medical research foundation established by the Linnen family. American Home Products’ Wyeth-Ayerst Laboratories division marketed the “fen” drugs fenfluramine and dexfenfluramine, which were combined with phentermine to make “fen-phen.” The Linnens’ lawsuit against phentermine-maker Fisons Corp. of Collegeville, Pa., was dropped earlier this month after a judge ruled a medical witness’ conclusions were too speculative. The Linnens’ wrongful death case was the first filed against American Home Products in connection with the fen-phen drugs, said their lawyer,Alex MacDonald.
