Mall development proposal falls through
BOSTON — A controversial proposal to replace the old Northern Avenue Bridge with a retail-restaurant mall development has fallen through, city officials said. The project came to a surprise end after the developer, Forest City Enterprises of Cambridge, failed to meet a deadline to submit a revised plan for the proposed 150,000-square-foot mall, Mayor Thomas Menino said. Forest City officials could not be reached. The developer had requested more than $6 million in subsidies to complete the project and other developers would have required the same amount, which the city could not afford, Menino said. Menino said the historic bridge probably will be replaced with a new pedestrian walkway, even though preservationists are trying desperately to save the bridge, one of two remaining swing bridges in Massachusetts. Menino said he is opposed to preserving the bridge because it would cost $3 million to $4 million.
Accounting firms merge
WORCESTER – The accounting firm of Carin, Charron & Rosen announced it has merging with Gerald P. Bonder & Co. of Boston, solidifying its position as the second largest regional accounting firm in New England. Carin, Charron & Rosen also recently merged with Rhode Island’s Suls Westgate & Parente. The new firm will have annualized billings of $14 million and employ more than 175 people in six locations in Massachusetts and Rhode Island, according to the company. Both Suls Westgate & Parente and Bonder & Co. will operate under the name of Carlin, Charron & Rosen.
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Aerovox says results will reflect restructuring costs
NEW BEDFORD – Aerovox, Inc. announced that its fourth quarter and year ending results would include $5.5 million to $6 million for costs related to the company’s previously announced restructuring efforts. The company said the figure includes a one-time $5 million charge for the impairment of long-lived assets and assets deemed obsolete by the restructuring initiatives, and $700,000 for payments to “associates affected by the consolidation.” The company intends to reduce manufacturing costs by streamlining operations, including the consolidation of three Mexican plants into two. Meanwhile, the company is building a manufacturing facility and corporate headquarters building in New Bedford, with state of the art equipment that the company believes will help lower overhead costs. The new building is expected to be completed in the third quarter of this year.
EUA to provide services to Textron Systems
LOWELL – EUA Cogenex Corp., a wholly owned subsidiary of Eastern Utilities Associates, signed a $3.1 million Phase II contract with Textron Systems to provide additional Energy Management Services at its Wilmington, MA. facility. Similar to Phase I, EUA Cogenex will implement self-funded building improvements at the facility. These improvements will lower Textron Systems’ annual utility and maintenance expenses. This comprehensive project will include the installation of a new 1,200 horsepower boiler plant, new energy efficient chillers, variable speed drives, and an expansion of the Energy Management System installed under the Phase I contract with Textron Systems. These conservation measures will reduce Textron Systems annual energy cost by an additional 20 percent without any investment on their part. The $2.5 million Phase I contract reportedly reduced Textron Systems energy cost by 24 percent.
Ferry service OK’d from New Bedford to Vineyard
NEW BEDFORD – While officials have given the go-ahead for limited freight-car- carrying ferry service this spring between New Bedford and Martha’s Vineyard, some officials are not optimistic about the system’s success. The Woods Hole, Martha’s Vineyard and Nantucket Steamship Authority board voted to approve the $1.475 million contract with Hyde Marine, Inc. of Florida to run two boats a day, Monday through Friday, from May to October. While New Bedford officials see the service as a boost to the city’s depressed economy, Vineyard officials are wary and believe it may prove too costly to operate. They approved the service on what they said was a “trial” basis.
Murder rate in Boston lowest in nearly four decades
BOSTON – Officials here credit the strong economy as part of the reason for a decline in homicides in the city, the lowest in 38 years. Officials said that in 1999 there were 31 homicides in Boston, far less than the 152 recorded at the start of the decade in 1990. Officials credit a strong economy, declining use of crack cocaine and the combined work of the Police Department and city’s clergy, schools and nonprofit agencies for reducing the murder rate. That rate has been declining every year since 1996. In 1998 there were 35 homicides.
Rail project on schedule for Fall River, New Bedford
FALL RIVER – Construction of a commuter rail system between Boston and Fall River and New Bedford is scheduled to begin by the fall of 2002, with completion the middle of 2004, according to state transportation officials. The department has put that schedule in writing for a project that is expected to cost $410 million. While the project has been talked about for years, a Boston labor shortage has helped spark the current interest since both Fall River and New Bedford offer significant labor pools.
(Compiled from news reports and releases, print and electronic.)
