The Ticker

Flea market bust yields

$30M in knockoffs

A flea market raid racked up more than 
$30 million in knockoff apparel and electronics, making it the largest counterfeit bust in Massachusetts, authorities said.

Authorities confiscated enough fake designer purses, clothing and pirated DVDs and CDs from two flea markets May 10 to fill three tractor trailers, U.S. Immigration and Customs Enforcement said.

Local businesses told police in January that illegal items were being sold at the flea markets, which have been open for years, said Lawrence interim Police Chief James Fitzpatrick.

"We didn't expect it to be this wide-ranging," he said. "We expected a couple dozen vendors, but I think they were ramping up for Mother's Day."

Forty-two vendors were arrested. Each pleaded not guilty to state charges of selling counterfeit items and is due back in court in July. The markets' managers have not been charged.

Phony items labeled as brands including Michael Kors, Nike, Louis Vuitton and Ugg Australia were confiscated.

"Counterfeiting is not a victimless crime," said Special Agent Bruce Foucart of the Department of Homeland Security. "People are losing revenue and jobs," he said. The items, many of which originated in China, will be destroyed, he said.

S&P 500 closes at record high

The S&P 500 closed at a record high yesterday, buoyed by a rally in housing stocks after better-than-expected home sales and a jump in Hewlett-Packard shares a day after the personal computer maker said it would cut more jobs.

The S&P 500 closed 1,900.53, just below a record intraday high of 1,902.17 set May 13 and above its record closing high of 1,897.45 the same day.

Hewlett-Packard jumped 6.1 percent to $33.72. The stock was among the S&P 500's best performers a day after the personal computer maker said it may cut as many as 16,000 more jobs in a major ramp-up of CEO Meg Whitman's years-long effort to turn the company around and relieve pressure on its profit margins.

Credit card cos. renew microchip push

Visa and MasterCard are renewing a push to speed the adoption of microchips into U.S. credit and debit cards in the wake of recent high-profile data breaches, including this week's revelation that hackers stole consumer data from eBay's computer systems.

Card processing companies argue that a move away from the black magnetic strips on the backs of credit cards would eliminate a substantial amount of U.S. credit card fraud. They say it's time to offer U.S. consumers the greater protections microchips provide by joining Canada, Mexico and most of Western Europe in using cards with the more advanced technology.

•  Gordon Brothers Group, a Boston-based global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, announced that Michael P. Muldowney has joined the firm as chief financial officer. Muldowney's primary focus will be to work with all business units on transactional, strategic, financial and operational initiatives.

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Summer rides great for escape

Summers in Boston are precious.

The winters can be long and tough. Spring lasts about 45 minutes. And fall is barely 100 days away.

So New Englanders know when summer finally gets here, it's time to own it. We work hard, we play hard. And it all begins in earnest on Memorial Day weekend.

Almost 90 percent of travelers this holiday weekend will go by car, and the 36.1 million Americans hitting the road for trips of more than 50 miles will be the highest in 10 years, according to AAA.

"It's an economic indicator," said Mary Maguire, director of public and government affairs for AAA Southern New England. "The great majority of people travel by car, especially if you have a large family. These numbers are very encouraging. We all endured 'Snowmaggedon' and now we're ready for summer."

New England's top summer travel destination is the beach. Cape Cod has more than 550 miles of shoreline, and the Cape Cod National Seashore alone draws more than 4.5 million people each year.

Ready to go? On the recommendations of Mark Takahashi, the automotive editor of Edmunds.com, here are three vehicles perfect for a Cape escape:

Audi A5 convertible

Admit it: Nothing's better than a convertible when you're thinking sea and sand. And if you're going al fresco, go in style — ditch the Geo Metro and get the luxury A5 droptop. The folding soft top doesn't impact trunk space, so you've got room for your beach chairs. Headroom is a little lacking in the rear seats, but with the top down, it won't matter. And really, the top should be down. (Starting MSRP: $44,500)

Mazda CX-5

If your beach trip skews more toward family fun than romantic getaway, this stylish choice has more room for passengers and stuff — as well as attractive fuel economy, averaging more than 30 mpg on the highway. "As one of our favorite compact crossover SUVs, the Mazda CX-5 delivers all the space and utility you'd expect, but also brings a more engaging driving experience," Takahashi said. "It also looks pretty sharp for an SUV. With available all-wheel drive, you can also venture out onto the sand." (MSRP: $22,945)

Jaguar F-Type

Probably more suitable to the one-percenters who summer on the Vineyard or Nantucket, the Jaguar F-Type is the pick if you can't make it to the Hamptons. A V8-powered roadster ($92,000) might be a waste, because there's no place to open it up on Route 6. But you can still be the first one to the yacht club. (MSRP: $69,000)

Some people prefer a different approach to summer. Rather than sun, sand and salt water, many Hub escapees head for the hills — to the Berkshires, the Adirondacks or the peaceful Green Mountains of Vermont. For those folks, a luxury sedan doesn't make sense, but these rides do:

Toyota Highlander

Takahashi's top recommendation for a mountain excursion combines roominess and affordability. "It's one of our highest-rated SUVs for good reason," he said. With a thoughtful, refined interior and strong V6 power, the Highlander is right at home for camp or cabin. Best of all: seating for eight, although the rear-most seats should be reserved for children. (MSRP: $29,215)

BMW X5

What's better for a westward march than a well-crafted, powerful, stylish SUV? As it's a BMW, expect and receive luxury and superior construction. "This one should make a long road trip seem shorter," said Takahashi, who recommends the diesel-powered xDrive35d for its authoritative acceleration and frugal fuel consumption. (MSRP: $52,800)

Range Rover Sport

There aren't a lot of vehicles that have the wide range of capabilities of the Land Rover Range Rover Sport. "The V8-powered version defies logic, and probably physics, with its sports car-like performance, yet it also can handle off-road terrain like a pickup," noted Takahashi. "It makes a strong statement." (MSRP: $62,600)

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The Ticker

State Senate votes to expand bottle bill law

Advocates for an expanded bottle bill in Massachusetts are praising a Senate vote to expand the nickel deposit law to include bottled water and other non-carbonated beverages.

The measure was approved as an amendment to the state budget for the fiscal year starting July 1. Supporters of the effort to update the three-decade-old law are gathering signatures to put it before voters in November if the Legislature doesn't act first.

The Senate has voted in the past to expand the law to cover bottled water and sports drinks, but the measure has not advanced in the House.

HP to cut more

Hewlett Packard is bracing to slash an additional 11,000 to 16,000 jobs after it announced a dip in revenue for its second quarter.

The computing giant, which is in the midst of a long restructuring program by CEO Meg Whitman, said revenue was down 1 percent, to $27.3 billion, from the same quarter a year ago.

HP had previously announced plans to cut 34,000 jobs.

TODAY

 Commerce Department releases new home sales for April.

THE SHUFFLE

Disruptor Beam, the company that developed the popular "Game of Thrones Ascent," announced the appointment of Boston PR veteran Elicia Basoli as the company's new director of communications.

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Gov. Deval Patrick reveals jobs pact with Japan

Gov. Deval Patrick yesterday let slip that his administration is working on a pact with a Japanese agency that promotes foreign investment in the country as he defended his globetrotting to entrepreneurs, saying the frequent travels are part of "a strategy" to grow education, innovation and infrastructure in the Bay State.

At a briefing on his Innovation Economy Mission last December to Japan, Hong Kong and Singapore emceed by Jim Paul, director of the Boston office of the U.S. Department of Commerce, Patrick said his administration is working on a memorandum of understanding with the Japan External Trade Organization, a government-related agency, but was stopped short of elaborating by someone in the audience.

"I guess I'm not supposed to announce that today," Patrick said. "Stay tuned."

There are currently 130 Japanese companies in Massachusetts supporting 10,000 jobs as part of the state's $3 billion trade relationship with the country.

Patrick said his trade missions aren't about "how many fistfuls of purchase orders" he can bring home, but rather, "How many relationships can we deepen, can we create, can we extend."

But with little more than seven months left to serve on Beacon Hill, Patrick, said it will be up to others to build on his team's groundwork by forging future partnerships with senior government leaders.

"You realize of course it's up to you, not me. It's about whether you're willing to walk through the door we open," Patrick said.

Yesterday's event was held at District Hall on Northern Avenue, the world's first dedicated open workspace for the innovation community.

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Hot Beacon Hill homes offer luxury for less

If you're looking to buy a historic single family in toney Beacon Hill, prepare to pay for the privilege, but less than the original asking prices.

While low inventory in some Boston neighborhoods is leading to multiple offers, bidding wars and sales above asking price on some properties, two of the Hill's top-of-the-market single-family homes are seeing their prices chopped.

This week, Beth Dicker­son of Gibson Sotheby's relaunched her recently 
acquired listing at 23 W. Ced­ar St., a five-bedroom townhouse that was handsomely redone last year, by dropping the price by $400,000 May 15, after having already dropped it $150,000 May 2. It is now on the market for $5,350,000.

"I did a re-analysis, something you generally do when a property hasn't sold within 60 days in this market," said Dickerson, consistently ranked as the second-highest-volume real estate broker in Boston who has sold dozens of super-high-end properties. "With the end of the spring market coming, reducing the price gives the property some buzz before the summer comes in and buying slows down."

The 5,341-square-foot property certainly pops, from its stately 1836 Greek Revival brick and wrought-iron exterior to an elegantly restored living/dining area, a chef's kitchen with honed Carrara marble countertops and a private two-tiered garden and roof deck. Original floors and woodwork were redone, but there's also a contemporary feel in its four levels of living space.

"The owner's an interior decorator who's done a great job mixing in the old with the new," Dickerson said.

It was originally listed by another broker at $6,250,000 in July 2013, so the property has actually been reduced $900,000 since its makeover.

Another top-tier single family, a spectacular 8,684-square-foot Beacon Hill townhouse overlooking Boston Common at 56 Beacon St., has had its price cut by $600,000, to $11,900,000.

Jeannemarie Conley of Otis & Ahearn has had the listing — along with colleague John Corcoran — since January 2011.

"Cutting the price brings in new potential buyers, and encourages others who've looked at it to look at it again," said Conley, who sold 15 Commonwealth Ave. for $12.5 million in 2012, the highest sales price in Boston that year. "The price cut is already working because it's increasing activity on the property.

In addition to its beautiful restored woodwork, the townhouse, built in 1819, features a huge dining room with a marble fireplace, a master bedroom suite taking up an entire floor and an elevator to all floors. It also has something unheard of in the city — a private 
attached four-car garage.

"The market for single-family properties like these are families looking to make a long-term commitment to city living," Conley said. "It's a major decision."

Both of these properties have had a number of 
offers, their brokers say, but for various reasons have not sold.

"Selling these kinds of properties is a combination of the right timing and price coming together," Conley said.

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Later business hours fit to a T

The MBTA's late night weekend service pilot program is spurring Cambridge to join the Hub in taking a look at extending the hours businesses can remain open.

"We want to look at the potential benefits, not just for our employees and our residents, but also for our local businesses," said Lisa Hemmerle, director of economic development for Cambridge. "We have a task force formed."

Government officials make up the task force and they are laying the groundwork before its membership is opened up to the public, Hemmerle said.

The city, said Hemmerle, already has granted requests from two businesses — the Kendall Square Cinema and Veggie Galaxy — to stay open later. And Hemmerle said Cambridge plans to begin an outreach program soon to encourage businesses to stay open later.

"We're hoping to have more, as people realize now their staff can get home," said Elizabeth Lint, executive director of the Cambridge License Commission. "It's something the city has an interest in."

The MBTA's yearlong late night service pilot program, which extended the hours trains and some buses run on Friday and Saturday nights until 2:30 a.m., kicked off in late March.

Meanwhile, Boston's late night task force has met twice since Mayor Martin J. Walsh announced his proposal to let bars and restaurants stay open until 3:30 a.m.

Still, the city hasn't opened up the floodgates yet. The Boston Licensing Board last week denied a request from Amelia's Taqueria in Allston to stay open until 3 a.m. on the weekends. Melina Schuler, a spokeswoman with the mayor's office, said those kinds of requests could be viewed more favorably in the future.

"Moving down the road we'll work better in terms of managing later operating hours," she said.

The task force, trying to get a pilot program rolling by the summer, is looking at how to best implement later hours.

"What's driving this is the two main things we want to look at is the quality of life and the demand for this service," said John Fitzgerald, senior project manager at the Boston Redevelopment Authority and co-chairman of the task force.

The task force, with the help of students from the Harvard Kennedy School, so far is collecting information, including crime statistics, streetlight concentrations and is even combing through Twitter to see the age of those most likely to be tweeting between 2 and 4 a.m.

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Boston HQ’s score skyline spots

The city's skyline has long been largely off limits to companies looking to advertise their names atop high-rises, but lately several companies planting roots in Boston have been allowed to emblazon their corporate logos on their rooftops and rooflines.

Boston-bound motorists heading over the Zakim Bridge are now greeted by giant letters that spell out Converse on the roof of the sneaker makers' soon-to-be opened world headquarters. Meanwhile, travelers to the Seaport District — particularly at night — can't help but notice the illuminated Vertex sign atop the pharmaceutical company's new waterfront home.

The tenants of the two buildings join only a handful of companies — State Street's headquarters in the Financial District being the most notable — granted permission by the Boston Redevelopment Authority to vertically advertise their names.

Boston's downtown skyscrapers are mostly devoid of rooftop advertising due to a 1979 BRA rule prohibiting signs atop high-rise buildings.

Lara Merida, the BRA's deputy director for community planning, said exemptions are granted to companies that locate their corporate headquarters in Boston and occupy the entire building. Hotels such as the Westin and Renaissance can erect signs on their rooflines as "wayfinders" for visitors, she said.

"Generally, signage on top of large projects is discouraged. However, corporate signs have been approved as an economic development incentive for companies building their headquarters in, or transferring their headquarters to Boston," the BRA said in a statement.

Other companies that got BRA approval to erect logos above their corporate headquarters include John Hancock Financial on Congress Street and New Balance in Brighton Landing.

Vertex recently moved its headquarters from Cambridge to Fan Pier, bringing with it 1,300 employees.

"As part of our move to Boston, we followed the BRA's policy related to placing a Vertex sign on our building. This was based on the building serving as our global headquarters and the fact that we occupy 100 percent of the space," said Vertex spokesman Zach Barber.

Converse is moving its world headquarters, now in North Andover, to 187,000 square feet of new office space being created by the $230 million refurbishment of a nine-story building across from the TD Garden. The rehabbed building will house some 400 Converse employees when it opens in the spring of 2015.

"The decision for signage was made by the city. Ultimately, the sign is a reflection that Converse is here to stay," Converse said in a statement.

Melina Schuler, a spokeswoman for Mayor Martin J. Walsh, said that while the Converse building will contain 45,000 square feet of ground floor retail, the sneaker company is occupying "100 percent of the office space."

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Diminutive driver’s hubby worries about her safety

My wife is 5 feet 2 and has a driving posture that places her about 12 inches from the steering wheel of her 2010 Subaru Forester, even with the pedal extenders I have installed. Years ago I was convinced that this is pretty dangerous given the geometry and violence of airbag deployments. Should I be concerned about the risk of injury from a deploying airbag?

The basic rule of thumb is a minimum of 12 inches between the driver's chest and the steering wheel/airbag. The crash management system in modern automobiles is engineered to make sure the sea belt/restraint system prevents the driver's upper body from entering the "zone of deployment" prior to the airbag inflating.

So in this case the seatbelt is the critical factor. The good news is that her Subaru, like many modern vehicles and unlike many early-generation airbag-equipped vehicles, is equipped with front seatbelt pretensioners that will rapidly retract and lock the seatbelt in any frontal collision that triggers the airbag. The mechanism for this is an "explosively expanding gas" driving a piston that retracts the belt. This helps prevent "submarining" — sliding downward and forward in the seat — and helps prevent the upper body from reaching the airbag's zone of deployment.

It would appear that you've done everything possible to allow the Subaru's crash management system to work properly for your wife in the event of a serious frontal impact.

• • •

Some new cars do not have much space around the tire in the wheel well, which results in snow collecting and freezing in the small space. Could this affect how the brakes work?

Very unlikely. As long as the wheel can roll, the hydraulic pressure applying the brake pads against the rotors will force out moisture and debris as well as generating more than enough heat to melt any ice/snow in proximity. With that said, it's always a good idea to knock off the large "icebergs" that collect at the rear of the wheel wells before driving. These can initially limit steering until worn or knocked clear.

• • •

I have a 2002 Buick Century with about 180,000 miles on it. The transmission shifts smoothly when it first starts, but after driving for a while it starts to "clunk" when shifting to the next gear. The transmission was rebuilt in 2010. Transmission "conditioner" was added a couple of weeks ago and it's a little better, but not much. Any suggestions for eliminating the clunk except a $2,000 rebuild? Our son will be driving the car over the summer and we'd like it to last a while longer.

Does the "Service engine soon" light ever come on when the harsh shifting occurs? Hard upshifts or downshifts can be indicative of "limp" mode operation — a self-protective, high hydraulic pressure mode to prevent slippage/damage to the transmission. If so, a diagnostic scan tool may pinpoint the problem.

If no service light comes on, the problem may be mechanical. Even though the transmission apparently has been rebuilt, sediment or worn/binding valves or accumulator pistons may be causing the symptom. This might explain the temporary improvement from adding the conditioner. If the additive wasn't SeaFoam Trans-Tune, give this a try.

Recognize that harsh shifts aren't necessarily damaging to the transmission or drivetrain. Short of major work, I'd suggest continuing to drive the car until the symptoms worsen significantly. More gentle acceleration and/or manually upshifting/downshifting the transmission may improve shift quality.

• • •

Motoring Note: A hearty "thank you" to the armchair quarterbacks who commented on my response to the faulty fuel pump on the 2000 Ford Explorer that wouldn't start in cold weather unless the owner tapped on the bottom of the fuel tank. In describing the additional amperage drawn by a worn/tired fuel pump, I should have said higher mechanical rather than electrical resistance. The additional mechanical resistance in the pump is what causes the increased draw of current I described.

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