Housing on Greenway, Brighton, Southie OK’d

Brighton, South Boston and downtown will get 195 new housing units — including apartments for veterans — under projects unveiled by the Boston Redevelopment Authority yesterday.

Under a $40 million redevelopment of its campus, the nonprofit Brighton Marine Health Center will build 101 new apartments, including 80 affordable units, and give leasing preference to veterans.

Boston Residential Development got the green light for a 12-story luxury condo building with 44 units and 4,000 square feet of street-level commercial space downtown at 55 India St. The building will replace a small parking lot along the Rose F. Kennedy Greenway.

In South Boston, developer Sing Ming Chan will build a four-story, 20-apartment project with two- and three-bedroom units at 933 East Second St. The $5.7 million project will include 27 parking spaces.

The BRA authorized 26 market-rate and four affordable condo units for 
45 L St., a site currently used predominantly by an auto repair shop. Quincy developer Peter Leoutsakos will erect the five-story, $11.05 million building, which will include 32 parking spaces.

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Style, comfort in Southie townhouse

This contemporary, chalet-style attached townhouse on Southie's City Point has park and water views and a suburban single-family feel.

One of two side-by-side units built in 1982 and extensively updated, this unusual three-bedroom condo has a chalet-style interior with high ceilings, picture windows and an open staircase with skylights. The 2,017-square-foot townhouse with an attached one-car 
garage and driveway is on the market for $1,095,000.

The home's exterior has beige vertical vinyl siding with a hip roof, and a hedge-enclosed front yard leads to a clay tile vestibule with coat closet and into a hardwood foyer with a double-height ceiling.

The current owners have opened up the living/­dining space so that it flows into the kitchen. The living area has hardwood floors and a three-part picture window — replaced last year — that affords views of ­Marine Park across the street with Pleasure Bay beyond. The dining area also has oak floors, and features a wrought-iron chandelier.

The adjacent hardwood-floored kitchen was entirely redone in 2007 and features custom-built maple cabinets with undermount lighting and beige granite counters with a bi-level breakfast bar that seats three. This recessed and pendant-lit space also has a granite-topped desk area and Bosch, GE Profile and Whirlpool appliances.

A back door leads out to a Trex-floor rear deck, and down to a fence-enclosed backyard with grass and perennial gardens that extend to a side yard with a shed.

Back inside, down a half flight from the dining area, through a French door, is a newly carpeted third bedroom, now outfitted as a den, that has a cherry­wood desk built-in and four windows overlooking the backyard. A redone adjacent multicolored marble-floored bathroom has a 
granite-topped vanity and one-piece Fiberglas shower.

The home's second floor is reached via a chalet-style open staircase with recently replaced skylights. There is new carpet throughout in the hallway and the bedrooms.

The rear-facing master bedroom has two windows and two double-door closets. The adjacent bathroom has multicolored tumbled marble tile floors, a white-granite-topped double vanity and a ceramic tiled surround for a tub and shower. A closet has an LG washer and dryer, and there's a linen closet outside the bathroom.

The front bedroom also has two closets, and its three-part picture window has views of the Marine Park and Pleasure Bay.

The home has a central cooling system updated with new compressors four years ago, and features gas heat on the first floor and electric heat on the second.

Home Showcase

• Address: 123 Farragut Road, 
Unit 123, South Boston
• Bedrooms: Three
• Bathrooms: Two full
• List price: $1,095,000
• Square feet: 2,017
• Price per square foot: $543
• Annual taxes: $7,446
• Monthly condo fee: $175
• Location: At South Boston's City Point, across from the Marine Park and Pleasure Bay. Three MBTA bus lines within a few blocks; a mile and a half to Southie's main Broadway retail district.
• Built in: 1982; updated 2003-2013

Pros:

• Open living dining ­areas overlooking Marine Park and Pleasure Bay
• Redone kitchen with maple cabinets, granite counters, recessed and pendant lighting
• Enclosed back and side yards with grass, perennial gardens
• Attached one-car garage and driveway

Cons:

• One bathroom has Fiberglas shower
• Broker: Tia Zaferakis of Jack Conway Realtor at 617-699-6268

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Beetle’s got more juice than old Bugs

This is not your father's VW Beetle.

Revamped a couple of years ago to make it brawnier, bigger and less rounded, the 2014 VW Turbo R-line brings it all together.

The R-line starts by kicking up the size of the base Turbo engine from 1.8 to 2.0 liters that pops 210 of horsepower, adds a slick gauge cluster over the center stack, is tricked out with a sport suspension and most notably has a new aggressive exterior styling. The sharpened bumpers and fender flares now complete the makeover that initially started with flattening the rounded roof line.

Add some nice subtle styling notes such as aluminum trim under the door, a small air dam on the trunk, leather-wrapped steering wheel and shifter knob, and 19-inch spoked wheels with red painted brake calipers and suddenly this is a GTI in Bug clothes.

I've tested a few Beetle models over the past couple of seasons and the R-line is the most fun to drive by far. The crisp engine response through the dual clutch transmission makes driving this Beetle like driving a rally car. Excellent feedback through the squared off steering wheel pays homage to a racing car but impressively the car actually drives better at speed. Throw the Bug into a corner with gusto and the independent suspension pulls the machine smoothly through with minimum roll. The short wheelbase turns the car in a small space and parking is a snap.

The upgraded Sunroof and Sound model we tested checks in at $28,995 and delivers terrific sound through the Fender system. VW engineers worked their magic on the sunroof. It's not quite panoramic yet it's large and easy to use and the glass pops up or slides back giving the car an airy feeling. What was nice was the interior screen that maintained the spaciousness of the vehicle yet provided superb diffusion of the sun.

Gas mileage does not suffer due to the macho engine. Twenty-six around town and 30 miles per gallon on the highway is a pretty nifty, thrifty sporty car.

The interior is quite masculine with racing-inspired gauges, brushed aluminum trim and pedals. Needless to say the flower holder is a distant memory and the metal dash has a tip of the hat to yesteryear with the flat mounted glove compartment. A bigger and deeper one is mounted under the dash. The cloth covered seats are supportive, comfortable and have a nice subtle detailing in the fabric. Of all the seat covers in the VW line, I find these to be preferable. An upgraded model has the leatherette that I don't find as appealing.

If you are looking for a fun, super sporty commuter that sets itself apart from competitors with its iconic Beetle style this is a fine car to investigate.

2014 VW Beetle Turbo R-line

• MSRP: $26,095
• As Tested: $28,995
• MPG: 26 city, 30 highway

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Apple juices up line of gadgets

Apple Inc. unveiled its latest gadget updates yesterday, rolling out new iPads with fingerprint recognition and a new version of its iMac desktop computer.

At its headquarters in Cupertino, Calif., chief executive Tim Cook announced the iPad Air 2, a full-sized tablet that is a quarter-of-an-inch thick, and a new iPad Mini.

Last month, Apple introduced the iPhone 6 and 6 Plus, as well as its first wearable gadget, the Apple Watch. Yesterday, Cook said all of the new products are designed to complement each other.

"They're designed to be incredible products individually, but they're also designed to work together seamlessly," he said.

Apple is hoping the updates will be a shot in the arm for its tablet industry, which has only grown 11 percent this year, far behind last year's 55 percent growth.

Roger Kay, a technology analyst with Endpoint Technologies, said the updates are not massive, but are still impressive.

"They're still the same products, they're just thinner, faster, brighter," he said. "It was a tour de force of technological prowess."

Among the announcements was an ultra-high resolution iMac, which sports a 5k resolution screen.

"If they're going to charge a premium price, they have to justify it," Kay said.

Apple also said yesterday that Apple Pay, its mobile wallet announced last month, will debut on Monday.

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Tuning out cable? HBO Internet-only plan changes picture

"It's not TV, it's HBO."

HBO's longtime marketing slogan aside, soon there might not be any TV at all, at least in the traditional sense.

The premium cable channel's announcement earlier this week that it will offer an Internet-only streaming service sometime next year sent shock waves through the cable industry, cheered cord-cutters and sent rival Netflix's stock plummeting by 25 percent.

"It is time to remove all barriers to those who want HBO," said CEO Richard Plepler, taking aim at the 10 million households with broadband but no cable subscriptions.

CBS, home to "NCIS," "Big Bang Theory" and "Criminal Minds," yesterday jumped on the streaming service bandwagon, launching "CBS All Access." It offers current shows, past seasons, and such classic series as the original "Star Trek" and "Cheers" for $5.99 a month on the device of your choice, commercials included.

Many industry watchers expect rival premium network, —CBS' premium stationShowtime, to announce its own streaming service any day.

These moves could sound the death knell for the traditional cable companies that have made billions by bundling channels together — and forcing millions of subscribers to suffer through channels they don't want.

But these seismic shifts could ultimately shake down a higher price tag for access to the shows you love.

HBO has revealed precious little about the fine print of its new service, such as cost or what series will be offered and when they'll be available. (Live? A day after broadcast? A week?)

The network's HBO GO, its streaming service available to its cable TV subscribers, has a less-than-stellar record. It crashed during the premiere of "Game of Thrones" last April, and the network took to Twitter to apologize for the spotty service.

It's premature to write the obit on the traditional bundling model just yet. HBO probably won't want to burn its relationships with cable providers on an untried product, so it seems likely that the new streaming service will probably cost a little bit more than its cable subscription — or offer something less than you can find in its current library.

And you might be willing to pay for HBO, but how much would you pony up for TLC or E! or Animal Planet? This brave new world could lead to a catastrophic culling of content providers. Viewers, ironically, could end up with fewer choices.

And if every channel goes a la carte, we all might look back at our cable bills and think: "What a pittance we paid. That truly was the Golden Age of Television."

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Custom homes go on the block

Build a custom mansion if you have the means, but you may end up auctioning it off because you can't find a buyer.

That's what's happening to two high-end Bay State properties, one in Andover and another in Osterville on Cape Cod.

"Some homes that are custom-­crafted by their owners­ don't fit into the mold of the area they're in," said Trayor Lesnock, founder­ and president of Platinum Luxury Auctions, which is auctioning a 10,000-square-foot Osterville mansion owned by retired EMC executive Edward Breslow that had long been on the market for $13.9 million.

Lesnock said the architect-­designed waterfront home, which has almost $3 million in interior finishes and technology, sits on a relatively small 1.32 acre site, amid grand houses with larger lots.

"While the lot is small, the architecture of the home, with its circles and curving lines, is very impressive," Lesnock said. "It's very sunny and has great harbor views from many rooms. There's an outdoor swimming pool and a dock out to the ocean."

The interior has custom millwork, stained-glass window panels and large living spaces built for entertainment, including three full wet bars. The technology includes more than a dozen mounted Apple devices, smart-home technology that controls lighting, temperature and music and a secure private network powerful enough to host a company.

A custom home in Andover that's also going to auction is double the size, with 20,000 square feet of living­ space. When the Herald profiled the Haggetts Pond Road mansion in March 2013, the 2003-built nine-bedroom home on 4 acres was on the market for $5.5 million. Almost 9,000 square feet is taken up by a regulation-size basketball court with water slides down to an indoor swimming pool. There's a bowling alley, locker room and a large family game room.

"It has fairly traditional high-end living spaces outside of having the gym attached," said Jeff Hubbard, president of Madison Hawk Partners, which is auctioning the Andover home, with sealed bids due by Nov. 4. "It could be a sportsman's home or even a corporate retreat."

Lesnock expects three to six live bidders at tomorrow's auction for the Osterville home, and perhaps a few by phone.

"Although I've never been involved in a real estate auction before, it seemed to me the best way to get the most exposure for the property in the shortest amount of time," said Breslow, who added he and his wife are looking to downsize and spend more time traveling and in their Florida home.

Hubbard says auctioning a super high-end custom home like the Andover property is akin to selling fine art — it involves identifying those with the means and ability to close quickly.

"The auction route offers sellers the certainty of a sale so they can move on with their lives," he said.

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The Ticker

HBO to cut cable cord

HBO is cutting the cord next year and selling its popular streaming video service, HBO Go. as a standalone product, as more Americans choose to watch the Web, not the TV. Viewers longing to see "Game of Thrones," "True Detective" and "Veep" will no longer have to pay big bucks for cable and satellite contracts.

Millions already have cancelled pay-TV subscriptions — up to 10 million U.S. households are currently broadband-only. And about 45 percent of Americans stream television shows at least once a month, according to research firm eMarketer. That number is expected to increase to 53 percent or 175 million people by 2018, it says.

Conn. casinos see decline in revenue

Connecticut's Indian-owned casinos are reporting declines in slot machine betting and revenue in September. Mohegan Sun said yesterday slot machine bets last month totaled $569.6 million, down from $621.5 million in September 2013. Slot revenue was $46.5 million in September, down from nearly 
$50 million a year ago.

Foxwoods Resort Casino said total slot bets were $445.8 million, down from $508.1 million. Slot revenue of $36 million was down from $44.8 million in September 2013.

Walsh launches financial literacy center

Boston Mayor Martin J. Walsh is embarking on a plan to address poverty and income inequality that includes a new financial literacy center for residents.

Walsh announced yesterday the launch of a new city Office of Financial Empowerment to help residents with job searches, training for career development and financial coaching. The office's first two centers will be in Roxbury and in the Financial District. They are being paid for by the United Way and the Local Initiatives Support Corporation.

The mayor's office said 46 percent of Boston households do not have enough savings to live for three months if they face a major life change such as losing a job or a medical crisis. The mayor's office said that for black and Latino households, that figure rises to 
69 percent and 75 percent, respectively.

Today

• Labor Department releases weekly jobless claims.
• Federal Reserve releases industrial production for September.
• Freddie Mac, the mortgage company, releases weekly mortgage rates.
• National Association of Home Builders releases housing market index for October.
• U.S. Treasury releases foreign holdings data for August.
• South Coast Improvement Co. of Marion and Reading, Pa., a design-build general contractor serving New England and the Mid-Atlantic states, announced the hiring of Jared Butler, left, for its business development department in its Northeast region.

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Fed Reserve chair to tour Boston-area job center

BOSTON — Federal Reserve Chair Janet Yellen is visiting the Boston area to tour a local job center and to speak at a conference on economic opportunity, as the central bank's first female head continues her focus on employment issues in her first year in office.

Yellen will stop in Thursday at the office of CONNECT, a coalition of local organizations that provides employment services in Chelsea, an industrial city across the Mystic River from Boston. Yellen is expected to hear about the local economy and how programs like CONNECT are helping residents enter or re-enter the workforce.

On Friday, she'll be the keynote speaker at the Federal Reserve Bank of Boston's conference on the "Inequality of Economic Opportunity." That two-day conference will focus on the "extent of inequality of economic opportunity in the United States and its manifestations," according to its website.

Yellen, who chaired the White House Council of Economic Advisers under President Bill Clinton, has made employment a priority since officially succeeding Ben Bernanke and becoming the Fed's first woman chair in February.

Despite improvements in the national unemployment rate, she has argued that the labor market has not yet fully healed from the Great Recession of 2007-2009. Yellen has pointed to weak wage growth, a large number of long-term unemployed people and many workers who are part-time but who would rather have full-time jobs.

___

Associated Press Economics Writer Martin Crutsinger in Washington contributed to this report.

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Boston eyes tenant for former Navy digs

Two years after plans for a seafood processing plant fell through for a pair of Boston Marine Industrial Park parcels, the Economic Development and Industrial Corp. is seeking proposals for one of the sites.

A long-term industrial tenant is sought for Parcel N, a 3.25-acre site with a two-story, 160,000-square-foot, 1941 building originally used by the Navy for heavy metal fabrication.

"We're looking for a lessee occupant who would operate their business out of there as opposed to a developer who would be building something on spec," said Dennis Davis, deputy director of industrial development and commercial leasing for the Boston Redevelopment Authority/EDIC.

In 2011, the city had a tentative deal for American Seafood Exchange to build a $68.9 million seafood processing center on Parcel N and the adjacent Parcel M. But the company couldn't secure financing and withdrew in 2012.

Market conditions since have changed, Davis noted. "The capital markets are very favorable right now," he said. "This is one of the parcels … the BRA audit identified as potentially ripe for development."

The BRA audit, completed by accounting firm KPMG this past summer, recommended an asset-monetization plan to ensure BRA/EDIC properties were generating their optimal values.

The Parcel N building is structurally sound, but its skin, made of metal panels impregnated with asbestos, poses environmental issues. "We fully expect anybody ... more than likely would have to replace (it)," said Larry Mammoli, director of engineering and facilities management. "That's why it's been a challenge over the years."

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Vent sensor co. now controls $2.2M

What do you do after designing missile, radar and submarine systems? Redesign heating and cooling vents, of course.

Ecovent, led by chief executive and former Lockheed Martin engineer Dipul Patel, has raised $2.2 million for its system of connected heating and cooling vent covers and sensors that Patel said addresses the long-standing challenge of controlling temperatures in individual rooms in a home.

Unlike lights, which are either on or off, temperature is at the mercy of many different factors, including the weather outside and airflow.

"Our system can understand what the sun position is, what the outdoor temperature is, what's going on in the house. The system adapts," he said.

With Ecovent, sensors in each room determine when to open or close vents to make each room the right temperature.

"We can make your home more comfortable," he said.

The company will use the money to continue development of Ecovent, with a target of shipping to consumers next August. Ecovent is taking preorders now.

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Asia stocks rise as oil slump promises benefits

Asian stock markets were mostly higher Wednesday as a slump in energy prices promised benefits for the region's major economies.

KEEPING SCORE: Japan's Nikkei 225 stock average was up 0.2 percent at 14,971.79 and Hong Kong's Hang Seng added 0.7 percent to 23,205.38. China's Shanghai Composite rose 0.4 percent to 2,369.76 and Seoul's Kospi was little changed at 1,928.08. Markets in Southeast Asia, Australia and New Zealand also were higher.

ENERGY SLUMP: The price of oil suffered its biggest drop in nearly two years after the International Energy Agency reduced its forecast for demand for this year and 2015. The benchmark U.S. crude futures contract fell $3.90 to close Tuesday at $81.84 a barrel on the New York Mercantile Exchange. That was the biggest drop since November of 2012, and it's the lowest closing price since June of 2012. The contract was up 30 cents at $82.14 on Wednesday.

ASIA UPSIDE: Countries such as Japan, China, India, Indonesia and South Korea are major importers of oil and other fuels. They could benefit in multiple ways from a sustained drop in crude prices from improved trade balances to reduced subsidy bills. Lower overall energy prices could also flow through to higher disposable income for consumers.

THE QUOTE: "Lower energy prices are having a positive effect on the perception of improved real wages, i.e., inflation-adjusted wages, while many emerging markets are seeing increasing 'real' bond yields, which in turn could attract capital," said Chris Weston, chief market strategist at IG in Melbourne, Australia. "In the U.S., gasoline has fallen of late and should positively impact household wealth, which in turn should support future retail sales, promoting upside in GDP."

WALL STREET: Hit by a drop in energy stocks, the Dow lost 5.88 points, or 0.04 percent, to 16,315.19 on Tuesday. The S&P 500 index rose 2.96 points, or 0.2 percent, to 1,877.70. The Nasdaq gained 13.52 points, or 0.3 percent, to 4,227.17.

CURRENCIES: The euro rose to $1.2643 from $1.2638 late Tuesday. The dollar dropped to 107.22 yen from 107.30 yen.

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European stocks wallow, Asia gains on oil slump

European stocks wallowed Wednesday on dour growth prospects while Asian shares were mostly higher as a slump in energy prices promised benefits for the region's major economies.

KEEPING SCORE: Amid the prospect Europe will relapse into recession, France's CAC 40 sank 0.8 percent to 4,057.65 and Germany's DAX lost 0.6 percent to 8,767.19. Britain's FTSE 100 swooned 1.2 percent to 6,314.50. Futures augured losses on Wall Street. Dow futures fell 0.2 percent and S&P 500 futures shed 0.3 percent.

ENERGY SLUMP: The price of oil suffered its biggest drop in nearly two years after the International Energy Agency reduced its forecast for demand for this year and 2015. The benchmark U.S. crude futures contract fell $3.90 to close Tuesday at $81.84 a barrel on the New York Mercantile Exchange. That was the biggest drop since November of 2012, and it's the lowest closing price since June of 2012. The contract was down $1.14 at $80.72 on Wednesday.

ASIA UPSIDE: Countries such as Japan, China, India, Indonesia and South Korea are major importers of oil and other fuels. They could benefit in multiple ways from a sustained drop in crude prices from improved trade balances to reduced subsidy bills. Lower overall energy prices could also flow through to higher disposable income for consumers.

THE QUOTE: "Lower energy prices are having a positive effect on the perception of improved real wages, i.e., inflation-adjusted wages, while many emerging markets are seeing increasing 'real' bond yields, which in turn could attract capital," said Chris Weston, chief market strategist at IG in Melbourne, Australia. "In the U.S., gasoline has fallen of late and should positively impact household wealth, which in turn should support future retail sales, promoting upside in GDP."

ASIA'S DAY: Japan's Nikkei 225 stock average closed up 0.9 percent at 15,073.52 and Hong Kong's Hang Seng added 0.4 percent to 23,140.05. China's Shanghai Composite rose 0.6 percent to 2,373.67 Seoul's Kospi fell 0.2 percent to 1,925.91 after the central bank cut its growth forecasts for this year and next. Markets in Southeast Asia, Australia and New Zealand were higher.

CURRENCIES: The euro rose to $1.2649 from $1.2638 late Tuesday. The dollar dropped to 107.18 yen from 107.30 yen.

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Fuel meter co. to gas up with Kickstarter

A Somerville startup could be the next big innovation in the burgeoning smart-home industry as its fuel monitor hits Kickstarter next week.

Tank Utility, the brainchild of former EnerNOC mechanical engineer Nick Mashburn, is coming out of stealth mode with its app-enabled propane meter just in time for the season of home-heating headaches.

Tank Utility is a small, Wi-Fi-connected device that clips onto fuel tank gauges to collect and report usage data to homeowners via a mobile app. Based out of Greentown Labs, a clean energy business incubator in Somerville, Tank Utility aims to make sure homeowners always have a full tank, sending notifications when fuel levels are running low and projecting when a refill is needed. It's a potentially useful innovation for anyone who doesn't make it a habit of checking their fuel levels daily.

And it's a potential life-saver for owners of seasonal vacation homes, with frozen pipes and flooding posing big risks to that investment. New England is ground zero for that market. There are 94,000 vacation homes in Massachusetts, 101,000 in Maine and another 100,000 in Vermont and New Hampshire combined.

In fact, Mashburn got the idea for Tank Utility when he bought a vacation cabin in the White Mountains, his first experience with a fuel-heated home.

"I asked around about how people manage their tank levels and the answers were 'meh,' " he said. "Nobody's created anything like that."

So Mashburn built his own remote monitor, and that became the prototype for Tank Utility. He's also lucky enough to have a live-in mobile developer. His wife, Gwen Heimburg, has recently spent her weekends and nights designing and programming Tank Utility.

Mashburn has taken an interesting approach to bring the product to market. Rather than looking to the venture capital community, he's going crowdfunding first.

He believes the Kickstarter campaign, beginning Oct. 22, is the path toward raising enough capital for manufacturing. It's certainly going to be a good bellwether for consumer interest in this type of device.

The stats are on his side, with more than $11 billion in annual residential spending on fuel heat and lots of room for more efficiency in that space. More than 8 million homes nationwide use fuel.

It's easy to envision Tank Utility being of interest to Nest and other home automation players, because as they say in "Game of Thrones" and here in New England: Winter is coming.

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The Ticker

MIT celebrates ties to Nobel economics winner

The announcement that a French economist had won the Nobel Prize for economics set off celebrations yesterday across the Atlantic at the Massachusetts Institute of Technology, where he has strong ties.

Jean Tirole's research showing how regulators can manage markets dominated by a few powerful companies to keep them from blocking competition and overcharging customers is credited with helping drive the deregulation of industries in developed economies in the 1980s and '90s.

Tirole, 61, who works at the Toulouse School of Economics, earned his doctorate from MIT in 1981, was on the faculty from 1984 until 1991 and is still a visiting professor.

Cautious IPO for Fiat Chrysler shares

Investors cautiously greeted the Wall Street debut yesterday of Fiat Chrysler Automobiles, a move that shifts the carmaker's center of gravity away from Italy and caps a decade of canny dealmaking and tough restructuring.

The shares opened at $9.00 in New York and rose as high as $9.55 before closing at $8.92, up 2.5 percent from a Friday close of $8.70 for the predecessor company Fiat SpA. Trading was muted, with about 5.8 million shares changing hands on the New York Stock Exchange.

Markets have another bad day

The stock market slumped , unable to shake off worries of a global economic slowdown and plunging oil prices. Airlines, energy and materials stocks were among the biggest decliners. Stocks are coming off their worst week in more than two years.

The downturn leaves the Standard & Poor's index 500 down 6.8 percent from its recent peak last month and up just 1.4 percent for the year.

All told, the Dow Jones industrial average lost 223.03, or 1.4 percent, to 16,321.07. The Standard & Poor's 500 index shed 31.39, or 1.7 percent, to 1,874.74. The Nasdaq slid 62.58 points, or 1.5 percent, to 4,213.66.

TOMORROW

• Labor Department releases the Producer Price Index for September.
• Commerce Department releases retail sales data for September.
• Commerce Department releases business inventories for August.
• Federal Reserve releases Beige Book.

Real estate firm JLL has hired Ryan Enright as an executive vice president, specializing in representing tenants, investors and owners in the leasing of office space throughout Greater Boston. Enright joins JLL from Equity Office Properties.

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Abby ascends to CEO at Fidelity

Abigail Johnson's long-expected ascension to the CEO chair at Boston's Fidelity Investments was announced yesterday in an internal memo sent by her father, Edward C. "Ned" Johnson III, to employees of the second-largest U.S. mutual-fund company.

The 52-year-old "Abby" Johnson, who already had day-to-day control over operations that include mutual funds, an online brokerage and the biggest U.S. administrator of 401(k) retirement plans, will retain her president's title as she takes the CEO position from her 84-year-old father to become the industry's most powerful woman.

"Abby Johnson has agreed to become chief executive officer of Fidelity, reflecting a further step forward in our leadership succession plan," Ned Johnson, who'll remain chairman, said in the memo. "Along with our senior team, we will work together to strengthen Fidelity's industry leadership and to innovate in ways that enhance the experience we provide to our customers."

The elder Johnson had been chairman and CEO since taking over from his father in 1977. Fidelity signaled Abby Johnson was the clear successor in 2012 when it named her president overseeing asset management, retail and institutional brokerage, retirement and benefits services. The appointment resolved the long-running question of succession at the family-controlled firm.

Over the past decade, Fidelity, which had managed assets of $2 trillion at the end of August, has ceded its once-powerhouse status to Vanguard Group as its actively managed mutual funds have become less appealing to investors focused on lower-cost index funds and exchange-traded funds.

Abby Johnson, who has an MBA from Harvard Business School, has a net worth of $9.2 billion, according to the Bloomberg Billionaires Index. She started her full-time Fidelity career in 1988 as an equity research analyst and has worked in almost every major company division.

Herald wire services contributed to this report.

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Weather station is cool, but costly

Netatmo smartphone weather station ($179, Amazon)

Just in time for winter, I checked out this urban weather station, which is billed as a smartphone-connected air quality monitor. It comes with two sensor-laden aluminum cylinders, an AC adapter, mounting materials and a USB cable.

The good: You'll fly through the setup process and be impressed with the sleekly designed monitors for indoor and outdoor use. It collects lots of helpful data, tracks temperature, humidity, carbon dioxide, barometric pressure and even noise.

The bad: It's a little pricey when you can get most of that information from the thermostat.

The bottom line: There are some compelling potential uses for this device, including another way to monitor carbon dioxide and the ability to make sure your home is the right temperature when you're away (as anyone who's ever had their pipes freeze can attest). It's worth your consideration.

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Boston the hot spot for bots

Global robotics executives will converge on Boston this week as the leading business development event for the robotics industry has its 10th annual conference here, solidifying the Hub's reputation as a national leader in artificial intelligence bots.

Cutting-edge innovators will display robots that teach special education students, toy robots, autonomous vehicles for mining and military manufacturing, wearable robots that help people with disabilities walk, and humanoid bots complete with arms and legs.

"Boston has really become the focal point for leadership in the promotion of robotics on a national stage," said RoboBusiness attendee Rich Mahoney, director of robotics at SRI International, a Silicon Valley research and development nonprofit. "More than iRobot being founded there, it's the leadership those founders have shown."

Executives from Bedford-based iRobot, forefathers of the iconic Roomba and to a large extent Greater Boston's robotics scene, will be among the 1,200 CEOs, CTOs, CSOs, investment partners and VPs of business development who will attend RoboBusiness at the John B. Hynes Veterans Memorial Convention Center. The three-day event, which begins tomorrow, draws visitors from more than 22 countries to network, meet experts and see the newest technology in the global robotics industry.

Billerica-based Harvest Automation plans to debut a new, unnamed robot for handling and moving crates in warehouses.

Charles Grinnell, founder and COO of Harvest Automation, said the size and capabilities of his robots allow them to work alongside people, increasing safety and resulting in an estimated efficiency increase of up to 50 percent.

It's a version of their HV-100, a robot that picks up plants, already used in agricultural businesses throughout the nation.

"No other automation suppliers are doing that type of thing," Grinnell said. "It's a very low-cost and flexible solution that are safe to work around people."

Another notable Hub appearance: Cynthia Breazeal, the creator of family robot Jibo, profiled by Booting Up in August, is a keynote speaker.

Casey Nobile, co-chairwoman of the conference, said collaboration is the key to progress in the industry.

"Technologists who may be in labs all over the world working on very specific challenges can meet and share ideas so that these technologies are built into tomorrow's robotics systems," she said. "That's what really drives the industry."

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Identity theft dogs woman in Palmer

A Palmer woman has spent five years fighting to restore her credit rating after identity thieves stole her personal information — including her Social Security number — a cautionary tale as a seemingly endless parade of data breaches hit retail stores.

Adria Champney said she realized she was a victim of identity theft after she started getting flooded with calls from banks about fraudulent checks, from credit card companies about unpaid bills and hotels complaining of damaged rooms in 2009.

"There were charges pressed against me. I had to go for so many lineups at the police station," Champney said.

"Luckily, there would be people who were like, 'No, it's not her.' "

Champney's mother, Marisa, estimates that she and her husband are out more than $30,000 in legal fees. She said she's on medication to alleviate anxiety that she's developed since the ordeal began. But she's most concerned about her grandchildren.

"Now, if they see a cruiser or something, they freak out," Marisa Champney, 60, said.

It's a situation many shoppers could find themselves in as more and more stores report that consumer information has been stolen. Dairy Queen and Kmart last week both said stores were hit in a cyberattack. As in the cases of Target and Home Depot, criminals hacked payment systems, stealing information from customer credit cards to use and sell on "dark clouds," or black market cloud platforms. Security experts say the most important thing to do is watch your bank accounts diligently.

"If your credit card information is stolen, it's a hassle, but the real danger comes if they're able to get other information, like your Social Security number," said Dan Schiappa, general manager of security firm Sophos.

Schiappa said consumers may be inadvertently putting themselves at risk online by not using different passwords on individual sites or by using passwords that hackers can guess by reviewing social media profiles, where information such as favorite music and sports teams are on display.

In Champney's case, local authorities have been able to investigate the identity theft, but Chris Sullivan of the Massachusetts Bar Association said many cases involve hackers from other countries. In those cases, victims have to rely on federal authorities to step in, and even then, they're vulnerable to the potentially more lax laws abroad.

The Champneys hope for improved security measures to lessen the prevalence of identity theft.

"I think a lot of people think somebody steals your bank account and that's that," said Marisa Champney, "but they don't realize the extent of how far it can go."

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She’s got Nancy Drew game

For nearly a century, Nancy Drew, the bright, young amateur sleuth in the mystery series of the same name, has served as a role model for the likes of Hillary Rodham Clinton, former First Lady Laura Bush and Supreme Court Justice Sonia Sotomayor.

Now, a 16-year-old Concord girl who shares the same admiration for the fictional heroine has launched a Kickstarter campaign to fund her first entrepreneurial venture: the Nancy Drew Board Game.

"I feel especially in the modern day, (Nancy) is a huge role model, not only for girls, but for all young people who aren't sure they can make their dreams come true," said Quincy MacShane, who has read all 56 books in the series, beginning when she was about 9. "She gave me the confidence to know I could make mine come true. She empowered me."

One night about three years ago, Quincy was in her room and her parents came in and asked if she had finished her homework.

"No, but I have this," she said, holding up the game she'd made on the back of a Monopoly board.

Designed for two to four players ages 8 and up, the game is a kind of Trivial Pursuit for Nancy Drew fans. Players choose a character and a token from the series — a magnifying glass, a flashlight, Nancy's roadster — and move around the board's perimeter, "buying" books from the series by correctly answering questions about them. The player who acquires the most titles wins.

When Quincy told her father she wanted to make the game for more people so that they could learn about Nancy Drew, he said, "That's a big endeavor."

"We as parents want to encourage our kids to be creative," Nick MacShane said. "What we were surprised by was how persistent she was."

Quincy made a second version of the game, which a family friend, a designer, helped refine. And then she and her father approached Simon and Schuster Children's Publishing, which owns the Nancy Drew trademark, and demonstrated the game.

"I was very impressed," said Stephanie Voros, vice president and director of subsidiary rights. "It's a niche market, but, 84 years after the first book was published, there are still enthusiastic fans like Quincy out there. She really represents the Nancy Drew reader these days, who is smart and inquisitive."

After obtaining the rights from Simon and Schuster, Quincy and her family formed a company, Sutherland (her middle name) Games, which she heads as president. Then she applied for a patent and launched a campaign on the crowd-funding website Kickstarter to raise $20,000, with the hope of getting the game on store shelves before the holidays.

As of Friday, with 15 days to go in the campaign, she had raised $8,346.

"I did not anticipate the amount of support I'm getting," Quincy said. "To have it come this far is an amazing feeling."

To support the game, go to: https://www.kickstarter.com/projects/2026070997/nancy-drew-board-game

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Local law firm serving craft beer industry

Local law firm Bowditch & Dewey is hopping on the explosive growth of craft breweries in Massachusetts and across the country with the creation of a specialty practice focusing on the beer industry niche.

"It's a thriving and growing industry," said Bob Young, an attorney in the firm's Framingham office and a co-chairman of the new group. "In a lot of ways, they're facing issues that are common to a lot of startup businesses. One of the key challenges ... for the brewers is how to convert their passion and their skill of making beer into a viable business."

Overall beer consumption is down somewhat, but craft beer sales have been growing by double digits. The market represented $14.3 billion of the total 
$100 billion beer market in 2013, up 20 percent from the prior year, according to the Brewers Association, a Boulder, Colo., trade group for craft brewers, which it defines as small, independent brewers.

"There are new breweries in planning or coming online at an astounding rate," Young said.

Bowditch & Dewey will tap 10 to 12 attorneys from offices in Framingham, Boston and Worcester to address corporate formation, real estate, environmental, employment, insurance and licensing issues in the heavily regulated industry.

"Employment issues come to the fore quite quickly as the business evolves from a couple of buddies in the basement to rented or even owned space with a 200-
barrel tank producing mass quantities of product," Young said.

Young and his firm already have represented craft brewers, including San Francisco's Anchor Brewing in a non-compete case brought against it and an employee this year by Boston's Harpoon Brewery. The parties resolved the case, and it has been dismissed.

The new practice also allows for a melding of personal and professional interests for Young, whose current fridge selection includes Morph IPA from Night Shift Brewing in Everett, some brews from Framingham's Jack's Abby Brewing and Allagash Saison from the Portland, Maine-based Allagash Brewing Co.

"I have long-considered myself an aficionado of craft beer," he said, "One of the great aspects of the craft beer movement, is it's really become more or less the equivalent of — at least in my mind — wine, where you have a glass with a meal, and the flavor of the beer can enhance the food."

Bowditch & Dewey's move is an interesting one, said Eric Hendler, who founded Jack's Abby in 2011 with his brothers. "Personally we haven't needed something like that as of yet, but … if an issue arose, it would be nice knowing that there was someone who had experience in particular to breweries," he said.

The small brewery — which expects to produce about 15,000 barrels this year and whose best-seller is an India-style pale lager called Hoponius Union — also is riding on craft beer's increasing popularity. "We've been fortunate that more and more consumers are giving beer a shot," Hendler said. "A lot of places that would not have considered us a year ago are now giving us a chance."

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Shift in kids' TV watching habits drives big changes to Discovery-Hasbro partnership

The seismic shifts in the way kids watch TV has led to major changes in the partnership between Discovery Communications and Hasbro in the Hub Network.

The kidvid channel that launched in October 2010 will be rebranded Discovery Family Channel as of Oct. 13. Hasbro's ownership stake in the channel will drop from 50 percent to 40 percent as the programming focus shifts to Hasbro-produced children's fare in the daytime hours and family-friendly fare in primetime.

Discovery group prexy Henry Schleiff will add oversight of the rebranded channel to his growing portfolio. Discovery exec Tom Cosgrove will serve as general manager of the Discovery Family.

The changes were sparked in part by the fact that the sides were coming up on the expiration of their original partnership agreement. With so much of kidvid viewing moving to VOD and SVOD platforms, the partners realized that a linear channel squarely devoted to kivid has limited growth potential. That reinforces how much the rise of on-demand options has changed the game for linear TV programmers in just the four years since the Hub was born.

At the same time, Discovery's research showed that the Hub attracts a healthy "co-viewing" audience of kids and adults watching together in primetime. With the brand overhaul, the plan is to program original series designed to appeal to multigenerational family auds in primetime. The partners see an opening for a channel that is consistently focused on drawing multigenerational viewers in primetime.

Hasbro, meanwhile, gains more flexibility to sell new and existing shows to digital outlets such as Netflix and Amazon. Kidvid is a huge component of overall viewing for the SVOD heavyweights, even though it doesn't get nearly as much attention in pop culture as original series aimed at adults.

Discovery bought out the additional 10 percent stake in the channel from Hasbro. That allows Discovery to consolidate the outlet's revenue and earnings with those of its 12 other majority-owned channels in the U.S.

Hub, which was a makeover of the former Discovery Kids channel, has been consistently overshadowed by its more established rivals, Disney Channel and Nickelodeon, but it is nonetheless a profitable venture for the partners, and those earnings will now flow directly to Discovery's bottom line as it will have majority control.

Discovery and Hasbro execs stressed that the decision to revise the terms of the partnership was done by mutual agreement in the best way to make the most of the asset. Hub Network has grown its subscriber base from 56 million cable homes in 2010 to about 70 million today. The channel makes most of its money on affiliate fees, so the hope is to grow the advertising side with broader-based programming in primetime.

"Hasbro is a world-class company with franchises and characters that appeal to kids and families around the world. They have been terrific partners over the past several years as we developed our kids television audience in the U.S., and we look forward to a continued strong collaboration as we evolve to the Discovery Family Channel together," said Discovery Communications' prexy-CEO David Zaslav.

The decision by Hub's founding president Margaret Loesch to step down by year's end also accelerated the makeover process. Discovery and Hasbro both recognized that they stood to benefit from modified terms.

"This was the result of conversations about the most important elements of our success and how to bring the strengths of each parent company to bear to move the channel forward," Brian Goldner, president-CEO of Hasbro, told Variety. "We saw the opportunity to build up the audience in the evenings and show advertisers that they have a great opportunity to reach adults and kids."

Hasbro-produced hits for the Hub include the toons "My Little Pony," "Littlest Pet Shop" and "Transformers Rescue Bots." Primetime programming will now be drawn in part from the Discovery vault of shows revolving around natural history, adventure and science themes.

For Rhode Island-based Hasbro, the Discovery channel is a the centerpiece of a content-focused strategy that involves feature films, such as the "Transformers" series with Paramount and the upcoming "Ouija" due out next month from Universal.

The toymaker is investing big in production through its Burbank-based Hasbro Studios arm. "We are continuing to develop partnerships with the big studios for some of our biggest brands," Goldner said. "And you'll see us developing movies with smaller budgets and strong filmmakers."

(c)2014 TRIBUNE CONTENT AGENCY, LLC.

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