Workers: $1 hike in Mass. minimum wage is welcome

An estimated 280,000 Massachusetts workers — including 28,000 in Boston — will ring in the new year with a welcome addition to their paychecks.

That's the number of minimum-wage earners expected to get a $1-per-hour boost in their pay starting Jan. 1, when the first of three state Legislature-approved minimum-wage hikes takes effect, bringing the rate to $9-an-hour for 2015.

"That helps me very much," said Rita Dias, a 26-year-old Dorchester resident who helps support her mother and brother. "When it's going to be more up, it's going to be more helpful."

Dias earns the minimum wage for the 20 hours per week she works at Popeyes Louisiana Kitchen in Roslindale and CW Price in Dorchester.

"It's not enough," Dias said. "Sometime I need to think about the rent I need to pay or buy food and help my family."

The $1-per-hour increase in the minimum wage will be the first increase since 2006 and will be followed by $1 increases in 2016 and 2017.

"It's not a living wage, but it's at least a step toward it," said Lew Finfer, director of the faith-based Massachusetts Communities Action Network and co-chairman of Raise Up Massachusetts.

According to the MIT living-wage calculator, a single adult in Boston needs to make $12.65 an hour and work full time to earn a living to meet average monthly expenses.

Raise Up Massachusetts, a coalition of community, religious and labor groups, collected 193,000-plus signatures to put a minimum-wage increase on the November ballot, prompting the Legislature to approve the wage hikes.

"We can come back in 2017 and hopefully get it up further," Finfer said.

Meanwhile, Mattapan resident Wendelly Innocent said the extra $1 per hour will provide a little help when it comes to making ends meet.

"It's better than the $8," said Innocent, 19, who works about 30 hours a week at a Dunkin' Donuts in Dorchester. "It's a struggle to make ends meet, paying bills. It's going to be less of a struggle, but it still will be a struggle."

16.30 | 0 komentar | Read More

Maura Healey may sue drug cos. to rein in Rx abuse

Attorney General-elect Maura Healey said she would consider taking legal action against pharmaceutical companies to help rein in prescription drug abuse that can lead to heroin addiction.

Healey pointed to a lawsuit brought by Kentucky against Purdue Pharma alleging the company misled health care providers, consumers and government officials regarding the risk of addiction associated with the drug OxyContin.

"It's something I want to look at," Healey said. "I certainly won't hesitate to take action against pharmaceutical companies that are engaged in unfair or deceptive marketing practices and aren't being straight with the public."

Healey said the problem of opiate addiction has been growing, in part, because prescription painkillers have become so powerful while the cost of illegal drugs such as heroin has plummeted as their potency has increased. That's led to a rise of overdoses, she said.

The Kentucky lawsuit was filed in 2007 and remains pending.

Richard Silbert, a lawyer for Purdue Pharma, said the company agrees prescription drug abuse is a serious problem. He said that's why the company reformulated OxyContin to make it harder to abuse. But Silbert said the evidence doesn't show the company's marketing caused harm.

Kentucky Attorney General Jack Conway has said the state is moving ahead with the lawsuit.

Kentucky isn't alone. In July, the city of Chicago filed a lawsuit alleging five pharmaceutical companies, including Purdue Pharma, deceptively marketed their drugs to treat long-term, non-cancer pain. Chicago's lawsuit mirrors a complaint filed in June by two California counties.

16.30 | 0 komentar | Read More

France drops its super tax on millionaires

PARIS — It was supposed to force millionaires to pay tax rates of up to 75 percent: "Cuba without the sun," as described by a critic from the banking industry. Socialist President Francois Hollande's super tax was rejected by a court, rewritten and ultimately netted just a sliver of its projected proceeds. It ends on Wednesday and will not be renewed.

And that critic of the tax? He's now Hollande's economy minister, trying mightily to undo the damage to France's image in international business circles.

The tax of 75 percent on income earned above one million euros ($1.22 million) was promoted in 2012 by the newly-elected Hollande as a symbol of a fairer policy for the middle class, a financial contribution of the wealthiest at a time of economic crisis.

But the government was never able to fully implement the measure. It was overturned by France's highest court and rewritten as a 50 percent tax paid by employers.

Faced with a stalling economy and rising unemployment, the government reversed course in 2014 with a plan to cut payroll taxes by up to 40 billion euros ($49 billion) by 2017, hoping to boost hiring and attract more investments.

All the while, Prime Minister Manuel Valls kept repeating his new credo: "My government is pro-business".

Ultimately, while the super tax affected only a small number of taxpayers, it triggered huge protests in business, sporting and artistic communities.

French actor Gerard Depardieu decried it vociferously and took Russian citizenship. Soccer clubs threatened to boycott matches for fear that 114 of their players or coaches would be taxed. The final version of the tax allowed them to minimize the burden.

The announcement of the 75 percent tax had "a very bad psychological effect" in business circles, says Sandra Hazan, a lawyer who heads Dentons Global Tax Group. Even if most of the companies were able to minimize or avoid the tax, "I think it had an extremely devastating impact on the attractiveness of France for foreigners."

At the time of its proposal, British Prime minister David Cameron ironically proposed to "roll out the red carpet" to French companies willing to avoid the tax.

Economist Thomas Piketty, author of the book "Capital in the Twenty-First Century", criticized it as "a millstone around the neck" of the government, asking instead for global reform of tax laws.

Proceeds from the tax are estimated to total 420 million euros ($512 million) for about 1,000 employees in 470 companies, according to the government. By comparison, France's budget deficit has soared well over 80 billion euros ($97 billion).

16.30 | 0 komentar | Read More

Chipotle apologizes for NY worker's police protest

NEW YORK — Two Chipotle chief executives have apologized to New York City police officers who were greeted by a restaurant employee making the "hands up, don't shoot" gesture popular with protesters.

Co-Chief Executive Officers Steve Ells and Monty Moran said in a statement Monday that the employee's action appeared to be spontaneous. They said it happened at one of their Brooklyn restaurants on Dec. 16 when a group of nine police officers entered. They said the officers were not refused service, but chose to leave after encountering the gesture while in line.

The executives said appropriate actions had been taken toward the crew member after the Denver-based Chipotle Mexican Grill Inc. reviewed video footage from security cameras. They said they could not discuss what actions were taken.

16.30 | 0 komentar | Read More

Alert issued after likely HIV porn set infection

LOS ANGELES — California public health officials issued an alert Monday after finding "very strong evidence" that an adult film actor became infected with HIV as a result of unprotected sex on an out-of-state film shoot.

The Department of Public Health said the male actor tested positive for the virus that causes AIDS after engaging in unprotected sex with several other male actors during two separate film shoots. He had tested negative before the shoot.

"During the second film shoot, he had symptoms of a viral infection," the alert states. "The actor went to a clinic and had another blood test that showed he had recently become infected with HIV."

One actor from the second shoot has since tested positive for HIV. According to the health department, lab results indicate the first actor who tested positive "probably transmitted" HIV to the second.

A health department official was unable to immediately release further details regarding the lab testing and investigation. The alert notes that very early in an HIV infection, the test can be negative "even though the actor really does have HIV."

"In this case, the actor and production company thought he was HIV-negative during filming," the alert states. "Shortly after his negative test, HIV levels in his body rose rapidly to where he could infect other actors through unprotected sex.

A California-based trade group for the adult film industry declined to comment.

A health department official declined to release any information regarding when the transmission had taken place or which company it involved, citing privacy restrictions, but said the apparent transmission occurred in Nevada.

"It's happened before, it's happened now, and it will happen in the future," said Michael Weinstein, president of the Los Angeles-based AIDS Healthcare Foundation. "The big lie the industry has been saying all these years, there are no on-set transmissions, has been proven to be untrue."

The foundation championed an ordinance adopted by Los Angeles County voters in 2012 requiring actors in pornographic films to use condoms. The porn industry has fought the ordinance, saying having actors use condoms would interfere with a film's fantasy element by subjecting viewers to real-world concerns like pregnancy and sexually transmitted diseases.

A federal appeals court recently ruled the ordinance does not violate First Amendment rights.

Several porn companies have moved shoots out of the county over the last two years in response to the ordinance. The number of porn filmmakers applying for permits in LA County has declined sharply, from 485 in 2012 to 40 in 2013.

The last confirmed on-set HIV infection was in 2004. After that, the porn industry adopted monthly testing for a range of STDs. Last year, the industry increased testing to every 14 days after a woman who performs under the name Cameron Bay contracted HIV. Her diagnosis triggered a moratorium on adult film production until all performers who worked with her were medically cleared.

16.30 | 0 komentar | Read More

No health insurance? Penalties to rise in 2015

WASHINGTON — The cost of being uninsured in America is going up significantly next year for millions of people.

It's the first year all taxpayers have to report to the Internal Revenue Service whether they had health insurance for the previous year, as required under President Barack Obama's law. Those who were uninsured face fines, unless they qualify for one of about 30 exemptions, most of which involve financial hardships.

Dayna Dayson of Phoenix estimates that she'll have to pay the tax man $290 when she files her federal return. Dayson, who's in her early 30s, works in marketing and doesn't have a lot left over each month after housing, transportation and other fixed costs. She'd like health insurance but she couldn't afford it in 2014, as required by the law.

"It's touted as this amazing thing, but right now, for me, it doesn't fit into my budget," she said.

Ryan Moon of Des Moines, Iowa, graduated from college in 2013 with a bachelor's degree in political science and is still hunting for a permanent job with benefits. He expects to pay a fine of $95. A supporter of the health care law, he feels conflicted about its insurance mandate and fines.

"I hate the idea that you have to pay a penalty, but at the same time, it helps other people," said Moon, who's in his early 20s. "It really helps society, but society has to be forced to help society."

Going without health insurance has always involved financial risks. You could have an accident and end up with thousands of dollars in medical bills. Now, you may also get fined. In a decision that allowed Obama's law to advance, the Supreme Court ruled in 2012 that the coverage requirement and its accompanying fines were a constitutionally valid exercise of Congress' authority to tax.

In 2015, all taxpayers have to report to the IRS on their health insurance status the previous year. Most will check a box. It's also when the IRS starts collecting fines from some uninsured people, and deciding if others qualify for exemptions.

What many people don't realize is that the penalties go up significantly in 2015. Only 3 percent of uninsured people know what the fine for 2015 will be, according to a recent poll by the nonpartisan Kaiser Family Foundation.

Figuring out your potential exposure if you're uninsured isn't simple.

For 2014, the fine is the greater of $95 per person or 1 percent of household income above the threshold for filing taxes. It will jump in 2015 to the greater of 2 percent of income or $325. By 2016, the average fine will be about $1,100, based on government figures.

People can get a sense of the potential hit by going online and using the Tax Policy Center's Affordable Care Act penalty calculator.

Many taxpayers may be able to get a pass. Based on congressional analysis, tax preparation giant H&R Block says roughly 4 million uninsured people will pay penalties and 26 million will qualify for exemptions from the list of more than 30 waivers.

But it's unclear whether taxpayers are aware of the exemptions.

Deciding what kind of waiver to seek could be crucial. Some can be claimed directly on a tax return, but others involve mailing paperwork to the Health and Human Services Department. Tax preparation companies say the IRS has told them it's taking steps to make sure taxpayers' returns don't languish in bureaucratic limbo while HHS rules on their waivers.

TurboTax has created a free online tool called "Exemption Check" for people to see if they may qualify for a waiver. Charges apply later if the taxpayer files through TurboTax.

Timing will be critical for uninsured people who want to avoid the rising penalties for 2015.

That's because Feb. 15 is the last day of open enrollment under the health law. After that, only people with special circumstances can sign up. But just 5 percent of uninsured people know the correct deadline, according to the Kaiser poll.

"We could be looking at a real train wreck after Feb. 15," said Stan Dorn, a health policy expert at the nonpartisan Urban Institute. "People will file their tax returns and learn they are subject to a much larger penalty for 2015, and they can do absolutely nothing to avoid that."

The insurance requirement and penalties remain the most unpopular part of the health care law. They were intended to serve a broader purpose by nudging healthy people into the insurance pool, helping to keep premiums more affordable.

Sensitive to political backlash, supporters of the health care law have played down the penalties in their sign-up campaigns. But stressing the positive — such as the availability of financial help and the fact that insurers can no longer turn away people with health problems — may be contributing to the information gap about the penalties.

Dayson, the Phoenix resident, says she's hoping her employer will offer a health plan she can fit into her budget, allowing her to avoid higher fines for 2015.

In Des Moines, recent college graduate Moon has held a succession of temporary local and state government jobs that don't provide affordable coverage. The penalties are on his mind.

"When it gets up to $325, I hope I have a career that actually offers me a good health care plan," he said.

___

Associated Press Social Media Editor Eric Carvin contributed to this report.

___

Online:

Tax Policy Center ACA penalty calculator: http://tinyurl.com/mrppjoe

TurboTax Exemption Check: http://bit.ly/1xu9hDl

16.30 | 0 komentar | Read More

Somerville program helps young adults develop skills for employment

A Somerville workforce development program has teamed up with a jobs website to match low-income young adults with local businesses.

Although anyone can post or apply for one-off jobs or part-time work for free on HelpAroundTown.com, young adults age 18 to 24 in the city's Pocket Change program can signify their membership by using a badge on their profile, and employers can give preference to those applicants if they choose, said program manager Amanda Maher, the city's senior economic development specialist.

Pocket Change members get alerts when new jobs become available, and their case managers help them to apply and act as contacts if a job-poster wants to provide feedback.

Through a $7,500 contract, Somerville will pay for improvements to the Help Around Town website, which will allow the city to continue to use it for the Pocket Change program, Maher said.

Reem Yared, chief executive of Help Around Town, said Somerville initially approached her for advice, but it became clear that both sides were on the same page.

"We had exactly the same goals," she said. "I started Help Around Town with the specific purpose of helping youth find local jobs and build a reputation."

She said many employers will go the extra mile if they know they will be helping someone who really needs a job.

"It's really out of good citizenship, they know they are hiring local youth who want to make it," Yared said.

Funding for the contract and the program is provided through a $100,000 Working Cities Challenge Grant, awarded to Somerville early this year by the Federal Reserve Bank of Boston.

The city applied for the grant after a 2013 report by Commonwealth Corporation and the Drexel University Center for Labor Markets and Policy found that many young adults lack the "soft skills" needed for a job, such as knowing how to write a cover letter and resume, showing up for work on time and not talking on their cellphones on the job, Maher said.

"Many employers were saying, 'If you can send us someone with those skills and a good work ethic, we'll train them to do the rest,' " she said. "So the whole idea behind the program using Help Around Town is to provide young adults with pocket change while we work with them on soft-skill training. It also provides them with work experience for their resumes, as well as references, so that they'll be ready some day for full-time permanent employment."

The partnership between Pocket Change and Help Around Town has already paid dividends, Maher said. Several young adults who applied for one-off jobs with Somerville businesses through the site have since moved into more permanent employment with a local business.

In the meantime, the city has been seeking additional funders to sustain the program, she said.

For more information, contact Amanda Maher at amaher@somervillema.gov or 617-625-6600, ext. 2528, or go to HelpAroundTown.com.

16.30 | 0 komentar | Read More

Amazon quick-delivery plans threaten small stores

Bay State convenience stores could be in for a world of pain in 2015 if Amazon speeds up and expands its same-day delivery services.

All signs point to Amazon vastly growing its Massachusetts footprint in the next year, and CEO Jeff Bezos has made no secret that instant delivery of goods to consumers is the end-game of America's biggest e-commerce giant. That means we may see the same one-hour delivery window that is currently being piloted in Manhattan — and that spells disaster for the sales volume of corner marts, which will simply no longer seem convenient.

A 1-million-square-foot fulfillment facility in Fall River, with part of the land located in Freetown, is on track to begin construction in 2015. Another 328,000-square-foot warehouse is planned for Stoughton, fueled by $2.89 million in state tax breaks over the next decade.

It's hard to blame the state for luring Amazon: The proposed facilities and its already existing properties stand to create many Bay State jobs, including an estimated 1,000 positions in Fall River and another 125 in Stoughton.

Amazon has been growing its same-day delivery service for years, and it's already available in parts of Boston and a dozen other U.S. cities. It's unclear how popular the service is locally. I've never used it, and you have to hunt around the website to find what's available for same-day delivery. But expect Amazon to start heavily promoting the service as part of its Prime subscription loyalty program in 2015.

"Our long-term vision is that customers can order and receive a sellers' product the same day anywhere in the world," reads a job listing posted by Amazon in late October, one of several open positions that point to a major hiring blitz to extend the same-day strategy across 
the globe.

Manhattan appears to be the test city for that strategy. One week before Christmas, Amazon launched the Prime Now app, which enables one-hour delivery for Prime members in parts of Manhattan. With more than 25,000 items available, delivery within an hour costs $7.99 and Prime members can select a two-hour delivery window from 6 a.m. to midnight for free. Amazon's video commercial for the service says customers can order everything from coffee grinders to TVs and have them within an hour.

Considering Amazon's shipping costs were more than double its shipping revenue for most of 2014, I'm skeptical that they'll find a way to make money on same-hour delivery anytime soon. Let's just hope they don't put too many convenience stores out of business before they raise their prices to the intended rates.

16.30 | 0 komentar | Read More

Mayor Martin J. Walsh: ‘A ways to go’ on securing Wynn agreement

Mayor Martin J. Walsh said the city still has "a ways to go" before reaching a deal with Wynn Resorts that would clear the way for the casino giant to obtain Boston roadwork permits for its $1.6 billion gaming palace in Everett.

Walsh told the Herald his team met internally about the matter Friday, and said talks have been slow going as of late.

"My Transportation Department's been meeting with the Wynn people, but we have to get back on this and see where we go with this," Walsh said. "Right now it's slow. We still have a ways to go before we have any type of an agreement."

Wynn needs permits from Boston for road alterations in Charlestown, and pledged to submit Sullivan Square fixes to the city's Public Improvements Commission by February.

A Wynn spokesmen declined to comment.

Walsh — who cut a now-defunct mitigation deal with Mohegan Sun, which competed with Wynn for the Boston-area casino license — had an introductory meeting in October with casino magnate Steve Wynn at the Parkman House.

16.30 | 0 komentar | Read More

Can Mass. casinos compete?

The state's gaming czar says local casinos are ready to weather mounting competitive pressures in New York and Connecticut in 2015, as his commission gears up to regulate its first gambling facility in Plainville and grapples with uncertainty over whether there will be a third Bay State casino in Southeastern Massachusetts.

Gaming Commission chairman Stephen Crosby said developments such as New York approving three new upstate casinos on Dec. 17 — including one in Schenectady, 90 minutes from the MGM Springfield project — have been "part of the calculation from the beginning."

"The Springfield facility is going to take a backseat to nobody," Crosby said. "I think we are going to have by far the most compelling, most competitively well-positioned facilities out there."

But Michael Paladino, who assesses the credit worthiness of casino companies for Fitch Ratings, said the types of casinos New York has opened, and the commercial one rumored on Connecticut's Bay State border, generally eat away at the existing local customer base, not add to it.

"We do think the market in the Northeast is saturated, particularly with the competition coming online in New York and Massachusetts," Paladino said. "It means that, generally, new competition has limited ability to grow the market, and essentially cannibalizes existing properties to a great degree."

MGM, which this year was licensed to build an $800 million casino in downtown Springfield, isn't worried.

"We are confident that as an urban revitalization project our innovative design, tested marketing plan, and strong brand will make MGM Springfield a premiere destination resort casino in the Northeast," MGM spokeswoman Carole Brennan said. "We are moving full steam ahead for a spring 2015 groundbreaking."

Boston College professor Richard McGowan, a casino expert, expects to see Massachusetts projects cut back as New York facilities come online, and for the Mohegan Sun and Foxwoods casinos to adjust to hold on to market share.

"In the long run ... you're going to see a repeat of Atlantic City, eventually," McGowan said, referring to the widespread shuttering of casinos this year. "There's going to be too many."

The first facility to open will be the $225 million Penn National slots parlor at the Plainridge Race Course in Plainville, expected in June. Crosby said the commission will add 10 to 15 staff members to regulate the Penn facility, which he called the gaming panel's "real focus" in 2015.

Meanwhile, there is a dearth of developments for the "Region C" resort casino license in the southeastern part of the state, with a Jan. 9 deadline for interested parties to submit a list of principals for background checks.

KG Urban has been approved to pursue a license in Region C, but has yet to announce an operator or win the support of New Bedford Mayor Jon Mitchell, who is shopping the municipal golf course and a waterfront industrial site to casino operators.

"The market here in the Southeast is clearly weaker than it is in the other two regions," Mitchell said. "We're not holding our breath, but we're also open for a good proposal still."

16.30 | 0 komentar | Read More

Mass. skiing awaits cold

Massachusetts ski areas are awaiting this week's forecasted return of colder weather to make more snow and kick the season up a notch.

Wachusett Mountain Ski Area in Princeton, which opened Nov. 21, had one of its strongest and earliest launches in years for a record month.

"As the result of cold early temperatures, we were able to make snow early, and then we got the bonus of a 10-inch snowstorm around Thanksgiving," marketing director Tom Meyers said. "So we've had one of the best Novembers we've ever had."

But December has been a different story.

"December has been challenging all month, not just the last few days," Meyers said. "We've made snow whenever we can, but it's been not as cold as it was early. But, nevertheless, we still have over three-quarters of the mountain open, and the forecast now calls for cold temperatures to return … and we're looking to start making snow again and building base depths, expanding coverage and opening additional terrain."

Wachusett had 14 trails and four lifts open yesterday, with snow base depths of eight inches to 12 inches.

Jiminy Peak Mountain Resort in Hancock opened Nov. 16 with expanded snow-making operations. Yesterday, 34 trails and nine lifts were in operation with average snow base depths of eight inches to 28inches. 

"The season started out very solid and … we were able to get all our snow-making terrain open before Christmas," CEO Tyler Fairbank said. "We've never been able to do that before."

Rain on Christmas Eve and into Christmas knocked down Jiminy Peak's trail count a bit, but with a significant amount of manmade snow on the mountain, it was able to recover very quickly with its grooming fleet, according to Fairbank.

It's been a slow start at Nashoba Valley Ski Area in Westford, where eight of 18 trails and eight of 11 lifts were open yesterday.

The recent warmer weather has proved a challenge, according to marketing and corporate sales director Pam Fletcher. This time last year, Nashoba Valley had its entire mountain open thanks to a series of December snowstorms and more days of super cold temperatures.

"But with the cold weather coming, we can cover and open a slope from bare ground," Fletcher said. "And we already had, going into the rain, decent coverage — anywhere from 2 feet in some areas to 2 inches. That depth really helps you when you're going into the warm weather that we got over the holiday. We just need a couple of cold nights, and they can cover the whole thing."

16.30 | 0 komentar | Read More

Short-sellers get last-minute gift with debt relief extension

WASHINGTON — For David Foster of Chicago, it was a stunning and welcome early Christmas present for him, his wife and three young children.

The Senate's 11th-hour extension of the Mortgage Forgiveness Debt Relief Act through Dec. 31 will save Foster, who works for a nonprofit ministry group, from having to pay the IRS about $28,000 next year on $100,000 of mortgage debt canceled by his bank as part of a short sale on his condo. Before the Senate's action, he told me he had no idea "how or where we could come up with" that sort of money.

The federal tax code treats forgiven debt as ordinary income to the borrower, taxable at regular rates. But under an exception that took effect in 2007, qualified home mortgage debt that is canceled by a lender as part of a short sale, loan modification or foreclosure is treated as non-taxable. However, that exception expired last Dec. 31 and its renewal has been in doubt all year leaving short-sellers such as Foster unsure whether they would be facing crushing taxes in 2015.

Thousands of Americans who completed short sales during 2014 and received cancellations of mortgage debt by banks had reason to celebrate when the Senate extended the exception for transactions just before adjourning for the holidays. According to data prepared for this column by research firm RealtyTrac, nearly 122,000 short sales went to closing nationwide between January and October, involving an estimated average debt forgiveness of about $88,500. The average seller had a mortgage balance one and a half times higher than the market value of the house.

In a short sale, an underwater homeowner agrees to sell the property to a new purchaser, typically for a price well below what is owed to the bank. If the bank agrees to the sale, the proceeds pay off part of the loan balance and the bank forgives, or writes off, the rest.

Richard Eastern, CEO of Washington Property Solutions Inc. in Bellevue, Wash., a brokerage specializing in short sales, says people such as Foster are the lucky ones. Substantial numbers of owners have been rushing to beat the Dec. 31 deadline. "I got a call today from a client who asked, 'we're still scheduled for Dec. 29, right?' " Eastern recounted. The typical client served by his firm is an underwater owner with $300,000 of mortgage debt on a $200,000 house.

But Eastern said he has dozens of other listings where a 2014 closing won't be possible, and some of these clients "are now devastated" in the wake of the Senate's limitation of the extension to 2014 transactions only. They could be plunging into a federal tax policy black hole when they complete their sales next year, uncertain of any further extension of the debt forgiveness law.

Eastern is mystified that Congress could not have lengthened the extension to two years, retroactive for 2014 and good through Dec. 31, 2015, a provision approved in a bipartisan vote by the Senate Finance Committee last summer. He predicts that without protection from heavy tax burdens, many underwater owners will opt instead for bankruptcy filings. In some cases, they might be able to qualify for an "insolvency" declaration, which could wipe away tax liability for unpaid mortgage balances.

How do you know whether your short sale, loan modification or foreclosure is covered by the extension for 2014? Though a tax professional familiar with the law should be your best guide, here are the key tests you'll need to pass: The house securing the mortgage debt must be your principal residence. The maximum amount of debt that qualifies for relief is $2 million ($1 million if you are married filing taxes separately.) Any portion of the mortgage debt forgiven that was used for purposes other than improving or building the house — say you refinanced, pulled cash out and used it to buy a car — will not qualify for the exclusion and may be taxable.

What are the prospects that Congress will extend the law for 2015, covering people who didn't quite make the deadline for 2014? Not great. The Republican tax policy leadership in the House favors broad tax reforms in the upcoming session and wants to put an end to temporary tax code benefits that require periodic extensions.

Unless proponents can make a strong case for mortgage debt relief as a permanent part of the tax code, it will be tough to get it extended again.

16.30 | 0 komentar | Read More

Insurer to rescue Connector

A Massachusetts health plan, citing widespread bewilderment over the Health Connector's latest attempts to sign up Obamacare recipients, said it will offer last-minute insurance to Bay Staters who missed key deadlines.

"The bottom line is many members have been very confused," said Thomas Policelli, the CEO of Minuteman Health. "So we thought this made sense to extend this for people who didn't realize they have a problem. ... We've gotten panicked phone calls from fully paid members."

Bay Staters looking for health insurance effective Jan. 1 have until Sunday to pay for plans that they already selected through the Connector. But those who missed a separate Dec. 23 deadline to pick a plan may end up uninsured on Jan. 1, said Policelli.

Adding to the confusion, many Bay Staters have reported not receiving payment confirmation and some paid enrollees won't receive insurance cards by Jan. 1.

Minuteman said it is allowing people who missed the deadlines and need insurance by Jan. 1 to buy plans right up until Dec. 31. The plans are non-subsidized because they're being purchased outside the Connector, but Policelli said the alternative is no coverage at all.

Eric Linzer, spokesman for the Massachusetts Association of Health Plans, blamed the Connector's revamped Obamacare portal for not effectively providing payment confirmation to consumers.

"What this shows is a failure on the part of the Connector's website to offer some basic functionality that most consumers have come to expect with any kind of online shopping experience," said Linzer. "The subsequent workaround by the Connector has contributed to consumer confusion on this."

Connector officials, however, defended the enrollment process. They said they gave insurance companies information on everyone who signed up for their plans so they could collect payment. They also conducted a comprehensive outreach campaign, and they insist enrollees without ID cards are still covered.

Some 40,065 Bay Staters have paid for plans so far, while 34,138 people have selected plans but not paid.

Obamacare czar Maydad Cohen defended the functionality of the website and said the decision to extend the payment deadline has made a difference.

"I strongly believe the extension to pay has resolved any concerns consumers had about ensuring they could get access to ... coverage," said Cohen.

16.30 | 0 komentar | Read More

Union Wharf duplex location can’t be beat

This brick-and-beam duplex on Union Wharf was completely redone three years ago, incorporating original granite details with contemporary finishes, including a wine cellar.

Unit 101 is a first-floor and basement-level corner duplex with wood-beam ceilings and brick walls, new oak floors throughout and a large, open kitchen/living area. The large three-bedroom unit has 2,552 square feet of living space and is on the market for $1,895,000.

Originally built as a warehouse in the 1830s, Union Wharf still has much of its interior granite lintels on its large windows as well as granite supporting columns. The six-story 89-unit complex was converted into condos in 1978, with two gray granite buildings as well as brick row houses added along the wharf.

Entry is into a foyer with a coat closet and into an open kitchen/living area with a brick side wall. The track- and recessed-lit kitchen, redone in 2011, features 25 cherrywood cabinets, some glass-fronted and ­others pantry-style. There's bilevel granite counters with a glass-mosaic tile back­splash and an island with a breakfast bar withthat seats four and pendant lighting above. Jenn-Air stainless steel appliances include a refrigerator, dishwasher and electric stove and oven along with a Marvel wine cooler.

The adjacent 20-by-20-foot living room has two large windows, track lighting and a ceiling fan/light.

A half-wall with wood columns leads into a formal dining room with track lighting, brick walls, two large windows and a jelly-jar chandelier.

The short hallway leading to the master bedroom holds a half bathroom redone in 2011.

The master bedroom suite has a brick wall, recessed lighting and a dropped white ceiling. There's a walk-in closet with built-in storage and wardrobes. The en suite bathroom, redone three years ago, has a standalone clawfoot tub and porcelain tile floor and surround for a glass-doored walk-in shower. There are two sinks in a cherrywood vanity topped with black granite, as well as a handcrafted cherrywood linen closet.

A set of oak stairs leads down to the lower level, where there are original granite columns integrated into the renovations. Straight ahead is a family room with track lighting and a custom storage cabinet.

There are two bedrooms on this level with wood-beam ceilings, new oak floors and track lighting but with very small windows. A full bathroom has porcelain tile floors and surround for a walk-in shower as well as a whirlpool tub. A cherrywood vanity has two sinks and a marble countertop, and a closet holds a full-sized front-facing Whirlpool washer and dryer.

An adjacent closet has a temperature-controlled wine cellar that holds hundreds of bottles.

Heat and hot water are included in the $999 monthly condo fee, as well as access to the complex's heated outdoor swimming pool. There's also a top-floor common roof deck as well as a marina.

The unit comes with one deeded outdoor parking space on a gated lot manned 24/7, and there are spaces allotted for visitor parking.

Home Showcase

• Address: 343 
Commercial St., Unit 101, Union Wharf, Waterfront
• Bedrooms: Three
• Bathrooms: Two full, one half
• List price: $1,895,000
• Square feet: 2,552
• Price per square foot: $743
• Annual taxes: $17,724
• Monthly condo fee: $999 (includes heat, hot water, on-site heated pool)
• Location: Three blocks from restaurants and shops on Hanover Street in the North End; a quarter-mile from Faneuil Hall and the Financial District.
• Built in: 1830s; converted to condos 1978; unit completely renovated in 2011
• Broker: Ruth Ann Bowers and George Jedlin of Otis & Ahearn at 857-263-2181

Pros:

• Original brick walls, wood-beam ceilings, granite columns and lintels
• New oak floors, recessed and track lighting throughout
• Kitchen redone with 26 cherry cabinets, granite counters, Jenn-Air appliances
• Temperature-controlled wine cellar
• Complex has heated outdoor pool, marina and common roof deck with Harbor views

Cons:

• Very small windows on lower level

16.30 | 0 komentar | Read More

Hacks are security wake-up call

Businesses are re-examining their security controls and wondering where the next attack will come from after the Sony Pictures hack and a subsequent cyberattack that crippled the Xbox and Sony PlayStation networks on Christmas morning.

"It is the new normal," said Adam Towvim, chief executive of TrustLayers, a data security company. "This is a wake-up call. Who is accessing the data isn't the right question to be asking anymore, it should be how is the data being used, what are they doing with the data, which country is it being moved to."

The networks powering the two largest video game consoles, XBox Live and The PlayStation Network, were both down yesterday after a group called Lizard Squad claimed responsibility for the hack on Twitter. As of last night, the PlayStation Network remained down, but Xbox Live was largely operating.

PlayStation is owned by Sony, but it is unclear if there is any connection between that attack and the Sony Pictures hack.

"Just like we see in physical life, there are copycats in cyberworld," said Christopher Ahlberg, chief executive of Recorded Future, which monitors cyber-threats.

Towvim said many businesses reached out after details of the Sony Pictures hack emerged, asking what other steps can be taken to protect their networks. He said companies can't just try to keep attackers out, they need to also monitor internal data so red flags go up if there is any change in the way it is being used.

"Access control is still important, but real time visibility is now critical," Towvim said. "You can't just lock the data down. These persistent threats that happen inside the network, they do not look like proper use of the data. If you attach usage limitations to that data and you monitor that use, you have a totally different way, if not preventing, at the very least going a long way towards mitigating the risk."

Computer security expert Bruce Schneier, said the Sony hack could give other companies with lax security protocols the necessary incentive to tighten their controls. The hackers apparently were able to run rampant inside Sony's network, he said, thanks in part to an unencrypted list of passwords called "Passwords."

Said Schneier: "Maybe if we're lucky some more companies wake up and take security more seriously."

16.30 | 0 komentar | Read More

Quincy residents to be left with emergency facility only

The long-struggling Quincy Medical Center will permanently close its doors tomorrow, leaving Quincy residents without an official health facility sooner than originally planned, which could spur legal action from the Attorney General's office.

"Because of significant declines in patient volume, the department has determined that this closure timeline is necessary and appropriate to protect the health and safety of patients served by QMC and the department waives the remainder of the 90-day closure notice period," Department of Public Health official Sherman Lohnes wrote Tuesday in a letter to QMC owner Steward Health Care System.

Hospitals are obligated to give 90 days' notice before closing, which would have required the medical center to stay open until February if DPH had not waived the requirement.

The for-profit company previously agreed in a contract with Attorney General Martha Coakley to keep the 196-bed center open until at least 2017, and Coakley's office has raised the possibility of taking legal action if the hospital's emergency services did not stay open past Dec. 31.

Although AG spokesmen declined to specifically comment on whether that still may be in the cards, talks with Steward were said to be ongoing.

"We have made clear that any efforts to close Quincy Medical Center must maintain emergency services beyond Dec. 31," said Brad Puffer, spokesman for Coakley. "This is an important step in that process and we are continuing our discussions with Steward."

According to a press release, Steward QMC will close at 11:59 p.m. tomorrow, and the Steward Satellite Emergency Facility will officially open at midnight.

Steward said it will keep the emergency facility open until Dec. 31, 2015, through Carney Hospital's license.

The center has been fraught with financial woes and a dwindling patient base for several years.

But the closing of the center leaves Quincy residents without a hospital and the center's health care workers in employment limbo.

Brooke Thurston, a spokeswoman for Steward, said many of the center's employees will be paid and receive benefits through Jan. 6, and that a majority will be transferred into new positions within the Steward network.

16.30 | 0 komentar | Read More

Honda recalls 1,252 Crosstours over side air bags

NEW YORK — Honda is recalling 1,252 Crosstour vehicles due to a faulty side air bag made by troubled air bag supplier Takata.

The Honda recall is for 2015 model year Crosstours. The National Highway Traffic Safety Administration says the side air bag may not inflate properly because of a problem with its inflator tube. Crosstour owners will receive a letter in the mail asking them to take their car to a Honda dealer and have the side air bags replaced free of charge.

Honda said no injuries were reported. Takata Corp. declined to comment.

Takata, a Japanese air bag maker, is at the center of massive recalls around the world. Several automakers have recalled vehicles with air bags made by the company because they can explode and send shards flying at drivers and passengers. In response to the recalls, Takata on Wednesday apologized to those killed or hurt by its faulty air bags and announced it was reshuffling its executives.

16.30 | 0 komentar | Read More

Mayor Marty Walsh makes Dorchester tour

It was a merry Christmas Eve day in Dorchester yesterday as the mayor and police commissioner went on a goodwill tour of businesses.

The event began with a gathering at the Teen Center at St. Peter's where neighborhood kids received presents from police and seasons greetings from community leaders including Mayor Martin J. Walsh, police Commissioner William B. Evans and state Rep. Evandro C. Carvalho.

Walsh and police officers then took to Bowdoin Street towards Geneva Avenue to shake hands and wish happy holidays to shoppers along the boulevard.

16.30 | 0 komentar | Read More

Single-family home sales fall in Nov.

Single-family home sales fell last month while the median price rose, particularly in Greater Boston, driven by a continuing shortage of inventory, according to the Massachusetts Association of Realtors.

Statewide, the number of closed sales dropped by 6.7 percent, from 3,817 in November 2013 to 3,560 last month, while the median price increased 4.4 percent, from $316,000 to $330,000 over the same period, MAR statistics show.

Condominium sales fell even more precipitously — by 10.2 percent — from 1,494 to 1,342, but the median price increased only 1 percent, from $299,000 to $302,000.

"Both the falling numbers of sales and the increasing median prices are a reflection of low inventory," said MAR President Peter Ruffini. "There's a lack of affordable housing for first-time buyers. It's very rare to see new construction priced at under $400,000. That's simply not a viable price point for most people looking to enter the housing market."

In the Metro Boston area, the median selling price for a single-family home rose even more dramatically — by 9.4 percent, the largest percentage increase since April — from $480,000 in November 2013 to $525,000 last month, the highest median home price ever recorded for November in the area, according to the Greater Boston Association of Realtors.

"Even at these prices, what is available is being jumped on pretty quickly," said Michael DiMella, the association's president and managing partner of Charlesgate Realty Group in Boston. "We're still seeing some multiple offers and bidding wars, although not as much."

16.30 | 0 komentar | Read More

Bitcoin now available at local stores

You can now pick up some bitcoin with that bottle of soda and bag of chips at the store down the street.

LibertyX, a company that originally made and operated bitcoin vending kiosks, has expanded to let any store sell bitcoin for cash at the register, just like anything else they have in stock.

"You hand over cash, you get a code," said Kyle Powers, co-founder of LibertyX, formerly known as Liberty Teller. A cashier gives the customer a pin number, which can be redeemed for bitcoin. LibertyX is working with 2,500 stores, mostly local businesses including convenience and computer stores, across the country in the obvious places — Cambridge and San Francisco — and some less obvious, such as Lowell and Missoula, Mont.

The move away from dedicated ATMs that sell bitcoin came from overwhelming demand, Powers said.

"We had people driving for hours," Powers said. "The whole thing was to reach areas that we couldn't otherwise."

The ATMs are still operational, including the one at South Station.

"We're doing the same thing (as the ATMs), just cheaper, faster, more convenient," Powers said.

To help LibertyX expand, the company has raised a little more than $400,000 in private investment. Project 11, the venture capital firm headed by Katie Rae, Reed Sturtevant and Bob Mason, formerly of TechStars Boston, led the investment.

Powers said much has been made of bitcoin's ups and downs, but he continues to have faith in the online currency.

"Bitcoin is like gold, except the market is a thousand times younger" he said. "What we're doing is a fundamental, foundational piece of the bitcoin ecosystem."

16.30 | 0 komentar | Read More

Sony tries to save face with 'Interview' flip-flop

ATLANTA — Sony's flip-flop on releasing "The Interview" shows the studio is working furiously to try to chart the right course through political and public-opinion minefields.

Although analysts don't believe the decision will have any effect on Sony's image, it will at least give the movie-going public a chance to vote with their wallets and send North Korea a protest message.

Last week, Sony canceled the Christmas Day release of "The Interview" in the wake of an extensive hacking attack and release of confidential emails by a group linked with North Korea. The movie stars Seth Rogen and James Franco as journalists tasked by the CIA with killing North Korean leader Kim Jong Un. The hackers threatened violence if Sony didn't pull the movie. Sony did so after major theater chains decided not to screen it.

But the company then wavered in the face of public outcry and criticism from President Barack Obama. On Tuesday, Sony Entertainment CEO Michael Lynton said Seth Rogen's North Korea farce "will be in a number of theaters on Christmas Day."

The film is set to open in over 200 theaters, down from an original release planned in 3,000. Atlanta's Plaza Theater and 16 theaters that are part of the Alamo Drafthouse chain in Texas are among those that plan to show it.

Lynton said Sony also is continuing its efforts to release the movie in more theaters and through more platforms — namely digital channels, such as Internet streaming or video on demand on cable systems. But Sony isn't offering specifics. Starz, which has first pay TV and streaming rights to Sony releases, didn't respond to requests for comment. Streaming service Netflix declined comment, while YouTube didn't respond to requests.

Plaza Theater owner Michael Furlinger said he was thrilled to be showing the movie. He canceled plans to fly to Long Island, New York, to see his parents for the holidays.

"We play a lot of controversial pictures, things I don't necessarily agree with, but I will never censor them," he said. "It's not for me to decide. It's for the customer to decide. If they want to come, they'll spend their money. If they don't, that's their choice. It should not be the choice of somebody from North Korea or China or anywhere else."

Atlanta Police spokesman Sgt. Greg Lyon said police will monitor the location for potential threats, but he wouldn't discuss specifics. Furlinger said the theater will take some precautions, though he said he wasn't worried about the threats.

If anything, the controversy has raised awareness about the movie. Although fewer theaters are showing it, those theaters might be more packed than they would have been otherwise.

Anthony LoRusso, 54, of Atlanta, thought the premise of the movie was "silly" and initially planned to wait for the DVD. Now, he plans to see it at The Plaza.

Colby Cohen, 29, of Atlanta said he probably would have seen it anyway, but the brief cancellation made him want to see it more.

"I'm going to get to fight terrorism on Christmas Day now," he said.

Because Sony has been wavering on its release of "The Interview" since last week, deciding to release it after all should not have a major effect on its image. Laura Ries, president of Atlanta-based branding consulting company Ries & Ries, said most moviegoers don't tie movies with the studio that makes them in the first place.

If Sony ends up expanding the theatrical release and sells the movie through digital channels, it could end up recouping some of its box offices losses. Doug Stone, president of film industry newsletter Box Office Analyst, had estimated domestic box office for the movie would be $75 million to $100 million, of which Sony keeps about 55 percent. But the release is too limited so far to give Sony much of a financial bump.

Furthermore, costly damage from the email leaks to relationships and future projects cannot be recouped, and there is a threat of more leaks as Sony plans on releasing the film now.

"Panic-based decisions are not sound crisis management," said Jonathan Bernstein, president of Los Angeles-based crisis management company Bernstein Crisis Management. The studio is making decisions too quickly and could face more embarrassment if hackers leak additional documents and emails in retaliation for showing the movie, he said. He said Sony should have waited until it is sure it can protect itself.

Still, moviegoers seemed enthusiastic Tuesday. Isaac Sokol, a 21-year-old university student in the Dallas suburb of Richardson, bought two tickets for a Christmas night show at the Alamo Drafthouse theater in Richardson.

"The only way to tackle world conflicts and human rights violations and all of the dreaded things around the world is to take them with a grain of salt," he said. "If you don't, it's going to just be sadness."

The Alamo Drafthouse said many showtimes across the chain were selling out for Christmas Day, but the company did not provide specifics.

Once James Wallace, the Richardson theater's creative manager, received word Tuesday morning that the movie was back on, the theater got to work preparing for several shows. Among other touches, the theater will offer a patriotic menu featuring burgers, "freedom fries" and apple pie.

"You better believe it's going to be all-American," Wallace said.

___

AP Film Writer Jake Coyle in New York and AP writers Kathleen Foody in Atlanta, Nomaan Merchant in Dallas, Joseph Pisani in New York and Michael Liedtke in San Francisco contributed to this report.

16.30 | 0 komentar | Read More

The Ticker

Dow, S&P hit record highs in 'Santa' rally

The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs as the market delivered its fourth gain in as many trading days.

Pharmaceutical and technology stocks were among the big risers, while shares in energy companies fell sharply as the decline in oil prices deepened. Discouraging data on U.S. home sales failed to derail the "Santa" rally, as traders call a pre-Christmas advance.

The National Association of Realtors reported that sales of previously occupied homes fell 6.1 percent last month to a seasonally adjusted annual rate of 
4.93 million. That's the slowest pace in six months.

The Dow Jones industrial average rose 154.64, or 0.9 percent, to 17,959.44. Its last record close was 17,958.79 on Dec. 5.

The Nasdaq composite picked up 16.04 points, or 0.3 percent, to 4,781.42. The Standard & Poor's 500 index gained 7.89 points, or 0.4 percent, to 2,078.54. The S&P's most recent record close was 2,075.37, set on Dec. 5.

Gillette owner to sell soap brands

Procter & Gamble, owner of Boston-based Gillette, said it would sell soap brands Camay and Zest to Unilever for an undisclosed amount to focus on its faster-growing brands.

The deal includes the global sale of the Camay brand and the sale of the Zest brand outside of North America and the Caribbean, P&G said.

The company will also sell its Talisman facility in Mexico to Unilever. The facility has 170 employees.

P&G said in August that it would shed 80 to 100 slow-growing product lines to focus on about 80 brands, including Tide laundry detergents and Pampers diapers, which generate most of its revenue.

Carbonite moves downtown

Carbonite Inc., a provider of cloud and hybrid backup and recovery solutions for businesses, has opened its new headquarters in Lafayette City Center in Boston's Downtown Crossing. Carbonite's new 52,000-square-foot home will accommodate up to 400 employees.

The owner of Lafayette City Center is Boston-based the Abbey Group.

Today

 Commerce Department releases durable goods for November.

 Commerce Department releases third-quarter gross domestic product.

 Commerce Department releases personal income and spending for November.

 Commerce Department releases new home sales for November.

THE SHUFFLE

 Wentworth Institute of Technology announced today that it has named Associate Provost Charles Hotchkiss as the new dean of the College of Architecture, Design and Construction Management. Hotchkiss has extensive experience in higher education administration, including serving at Southern New Hampshire University.

16.30 | 0 komentar | Read More

Business Protocol: Toe the line in kissing under mistletoe at holiday parties

Hung over a doorway during Christmas, mistletoe remains one of the season's most beloved traditions.

They say mistletoe has spiritual and healing powers. It is also said to be a sexual symbol and an aphrodisiac. One legend states couples kissing underneath mistletoe will have good luck but a couple not performing the ritual will have bad luck. And while mistletoe is widely viewed as a symbol of love, it was traditionally a symbol of peace. Enemies who encountered each other underneath mistletoe-bearing trees are supposed lay down their arms, embrace and agree to a truce until the next day. This gesture of goodwill evolved into the custom of kissing as we know it today.

Finding yourself underneath the mistletoe can be festive and fun, especially after a few cocktails, but be careful not to get cornered … or carried away! For starters, full "lip lock" should be reserved for your spouse/significant other.

Here are some options to consider before you get near those innocent-looking dangling sprigs:

• Consider kissing at least one other person before an office crush, to conceal your true intentions!

• Men should consider offering a female co-worker the hand kiss, showing the ultimate respect.

• Rest your hands on the other person's shoulders to help respect personal space/comfort zone issues:

• The cheek kiss — always appropriate.

• The "never wrong" air kiss, even better, while simultaneously shaking the other person's right hand, and squelch any budding office rumors.

• The corner to corner kiss — allowing the corner of your lips to just barely touch their lips.

• The motherly forehead kiss.

• Finally, you will never go wrong with the old-fashioned handshake.

Some other things to bear in mind: Your mistletoe should be real — with white berries. Fake mistletoe is tacky. If the berries are red, it's probably holly. Hang it from the ceiling — beforehand! Don't walk around with it, holding it over people.

And tradition calls for men to remove a berry when they kiss a woman. When all the berries are gone, the kissing is over.

Bottom line: Treat other people with respect and defer to their wishes while protecting your own dignity and reputation. And if you're uncomfortable with any of this ... steer clear of the mistletoe!

Judith Bowman is the president and founder of Protocol Consultants International and author of "Don't Take the Last Donut: New Rules of Business Etiquette" and "How to Stand Apart @ Work ... Transforming '"Fine'" to Fabulous!" Email her at Judith@ProtocolConsultants.com.

16.30 | 0 komentar | Read More

Two top execs leaving MassChallenge

Two members of MassChallenge's executive team are stepping down.

In emails yesterday, Akhil Nigam, president and co-founder of the Boston-based startup accelerator and competition, and Karl Buttner, chief mentorship officer, said they will remain advisers to the organization but did not say what their next career move would be or who would replace them.

"Akhil and Karl are two of the most dedicated, sincere, enthusiastic and fun people I know ," John Harthorne, co-founder and CEO, said in a separate email. "We've been planning for this moment for a while now. MassChallenge has made some new hires, reorganized the team and worked to ensure a smooth transition. We'll announce more in the coming months as we head into an exciting 2015."

Nigam, a Harvard Business School alumnus and former Bain and Co. employee, did not say why he is leaving. Buttner, an MIT graduate, said he is trading his "lengthy car commute" to spend more time with his family.

16.30 | 0 komentar | Read More

Booting Up: A cure for credit card debt

'Tis the season for credit card debt, but don't fear: We've got you covered with a list of some of the top digital tools to help you dig yourself out of that financial holiday hole.

The average consumer is expected to spend more than $800 on gifts for Christmas, Hanukkah and Kwanzaa, according to the National Retail Federation. That doesn't include the wallet-walloping impact of all those family gatherings and festive home decor.

But lucky for you, the digital revolution delivers with some credit-control solutions, my favorite of which is the website 
MyFico.com.

If you're not a subscriber to MyFico, you're missing out. For the past 10 years or so, I've benefited from its monthly credit tracking service and credit score simulator tools.

For $19.95 a month, MyFico will monitor your credit score and advise you how to repair your credit. You'll see a list of the factors impacting your credit score, gain the ability to calculate the best way to pay off your balances and how long that will take.

MyFico also rates the best credit cards and lists balance-transfer deals available to you, which leads me to my next tip.

For whatever reason, balance transfers are almost entirely found and initiated online. For instance, the "Discover it" card is now offering 0% APR on balance transfers for 18 months, with a 3 percent fee applied to the transferred amount. If it's going to take you months to pay off your holiday debt, you should look into an online balance transfer and calculate whether that 3 percent fee is less than the cost of the current APR on the credit card you've charged up.

Now, let's say you decided to be Mr. or Mrs. Claus and are really staring down a barrel of serious financial problems. Your APRs could be so high at this point that it actually makes sense to take out a loan. I know that sounds crazy — going into debt to pay off debt.

But there's an intriguing service founded by some Google alums that may be worth your consideration. Upstart.com is a peer-to-peer lender that is targeting highly educated people with a good work history and debt — i.e., student loan debt. With APRs starting at 5.7 percent, upstart.com appears to provide an elegant solution in the face of a greedy Wall Street that doesn't much care that we're churning out a generation of Americans that will never be able to buy a house.

The last solution I'm going to suggest is like a digital financial consultant at your fingertips: Mint. Go to mint.com and input information about your credit cards and bank accounts and voila — you'll have your entire financial outlook in real time, for better or worse. Ironically, this tool may help you decide that it's time to forgo some of these 21st-century tools for something a little more time-tested: a pair of good ol' fashioned scissors.

16.30 | 0 komentar | Read More

Cambridge frets over business climate

Two of Cambridge's top priorities — supporting biotech companies and being green — are in a tug-of-war as the city mulls tougher emissions standards for new construction.

A city task force has been meeting for nearly a year to come up with a way for new buildings in Cambridge to be "net zero" to significantly reduce emissions. But some of the most energy-intensive buildings in Cambridge are biotech labs, which require a significant amount of specialized infrastructure, including high-powered ventilation systems to deal with any potentially hazardous gases.

"We want to reduce greenhouse gas emissions in the built environment," said Susanne Rasmussen, director of environmental and transportation planning for Cambridge and co-chairwoman of the task force. "The actions we take could have much broader impact than in our own community."

Joe McGuire, vice-president of development for Alexandria Real Estate Equities, one of the largest developers of lab space in Cambridge and also a member of the task force, said, "There are less than a handful of cases where a lab can be made net zero. (Labs) could be five or six times more expensive (to power) than an office building."

He said his own company makes energy efficiency a priority, but developing a net-zero emissions lab in Cambridge would be nearly impossible.

Because Cambridge is so densely packed, particularly in Kendall Square where most labs sit, there is less room for renewable energy infrastructure, such as solar panels.

McGuire estimates roughly half of Cambridge's commercial office space is taken up by laboratories, a far greater percentage than anywhere else in the world.

"It's impossible with technology that's currently available to build a 200k-square-foot lab building that's net zero," said Peter Abair, director of economic development for the Massachusetts Biotechnology Council.

McGuire said increased costs to developers will be passed on to companies, some of which may start to look outside of Cambridge if the cost gets too high.

"I'm concerned that what Cambridge does is so aggressive that it makes other communities more attractive," he said.

The task force is anticipating that there will be significant technological breakthroughs in the coming years for renewable energy.

Under current plans, which have not been finalized, the task force would require new lab space to have net-zero emissions by 2030.

"We recognize that laboratory buildings have unique circumstances that make them at least right now have a higher energy consumption," Rasmussen said.

The task force plans to reevaluate the timeline and other regulations every five years.

16.30 | 0 komentar | Read More

Asian markets gain as oil rebounds

SEOUL, South Korea — Asian markets were mostly higher Monday after the Fed's pledge not to rush to raise interest rates prompted investors to add risky assets ahead of the year-end holiday. A rise in the price of oil boosted energy stocks.

KEEPING SCORE: China's Shanghai Composite Index was up 1.6 percent to 3,158.94. South Korea's Kospi added 0.7 percent to 1,943.77 and Hong Kong's Hang Seng rose 1.5 percent to 23,452.25. Japan's Nikkei 225 dipped 0.1 percent to 17,610.33 while Australia's S&P/ASX 200 jumped 1.9 percent to 5,422.00. Stocks in Southeast Asia and Taiwan also rose.

ANALYST'S TAKE: "Our markets have opened firmer after the strong rebound in energy prices," said Tony Kwok, a sales trader in Sydney for CMC Markets. "Oil futures in particular, jumped 3.3%, despite Saudi Arabia refusing to cut production, which is seen as a very positive sign for the recently battered commodity."

OIL REBOUND: Saudi Petroleum Minister Ali Naimi said Sunday that he was certain the oil market would recover with the improvement of the global economy. Oil peaked at $107 a barrel in June but has plunged since then due to weak demand, especially after Saudi Arabia and other members of the Organization of Petroleum Exporting Countries agreed to maintain production levels. Naimi, in a speech at an energy summit in Abu Dhabi, denied his government was trying to suppress oil prices.

ENERGY STOCKS: Shares of energy companies, which have underperformed benchmarks, made gains as crude prices rebounded after the Saudi petroleum chief, Naimi, expressed confidence the market would stabilize. State-owned Chinese oil and gas company PetroChina Co. jumped 5.4 percent while another state-owned energy company, Sinopec Shanghai Petrochemical Co., advanced 3.1 percent.

FED PLEDGE: Last week's volatile stock movements found an upward direction after the Federal Reserve reassured investors on Wednesday it was in "no hurry" to hike interest rates and that a rate hike will not take place during the first quarter of next year. The news emboldened investors and the U.S. dollar rose against other major currencies.

ENERGY: Benchmark U.S. crude was up 78 cents to $57.92 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $2.77 on Friday to settle at $57.13 a barrel. Brent crude, used to price international oils, rose $2.23 to $62.24 per barrel in London.

CURRENCIES: The dollar was steady at 119.513 yen while the euro rose to $1.254 from $1.2230.

16.30 | 0 komentar | Read More

Mass. lagging on tech IPOs

Massachusetts has fallen farther behind California and New York in the number of companies in the tech IPO pipeline, according to industry tracker CB Insights.

This year, California had 308 companies in the tech IPO pipeline, while New York had 61 and Massachusetts had 52.

In 2015, California, driven by Silicon Valley, will continue to dominate, with 315 companies in the tech IPO pipeline, while New York, which had sizable financings in 2014, will have 69 companies — 57 percent more than Massachusetts' 44.

"While there were fewer companies for 2015, it wasn't a huge difference from this year, meaning many companies from this year either remained unexited or raised additional funding," said Matthew Wong of CB Insights.

"All of these companies are valued at more than $100 million and have demonstrated they have enough traction to go public if they want to."

Fifty-nine percent of Massachusetts companies in next year's tech IPO pipeline are in the Internet sector, while 16 percent are in computer hardware and services. Mobile/telecommunications and software each account for 11 percent, with other companies accounting for 2 percent.

Among the Bay State firms most likely to go public in 2015, Wong said, are Actifio, a Waltham data storage firm valued at $1.1 billion; 
SimpliVity, a Westboro data center management company; Dataxu, a Boston marketing software firm; Veracode, a Burlington cloud-based service; and Bit9, a Waltham leader in advanced threat protection.

"If Massachusetts has a few big IPOs next year, that could increase investors' interest and provide some tailwinds for other Massachusetts companies," he said.

SimpliVity already has 
$101 million in equity, and since August 2013, the number of its employees has quadrupled from 100 to 400, CEO Doron Kempel said.

"We're assuming an IPO is in our future," Kempel said. "If we stay focused, good things will happen."

Two of the top five tech companies in the U.S. that are expected to go public in 2015 were founded in Massachusetts, but moved to California. Dropbox, an online file-sharing firm started by MIT students, is now valued at $10 billion, Wong said, while Stripe, a payments-processing company started by a Harvard student and his brother, is valued at $3.5 billion.

This year, several Massachusetts companies had IPOs, including Wayfair, a Boston-based online furniture and home goods retailer that raised $319 million; HubSpot, a Cambridge maker of marketing software that raised $125 million; and Care.com, a Waltham-based online marketplace for personal care services that raised $104.6 million.

16.30 | 0 komentar | Read More

Foreign-trained med workers need help

Massachusetts needs more centralized information on relicensing pathways, improved career supports at workforce-development and educational institutions, and a review of licensure regulations to help the state's more than 12,000 foreign-born health care professionals, according to a new report.

More than one in five foreign-trained health care professionals in Massachusetts are unemployed or working in low-wage, low-skill jobs because they have limited English proficiency, lack help navigating complex and costly relicensing requirements, or have trouble completing the relicensing process while holding down low-paying "survival jobs," according to the Governor's Advisory Council on Refugees and Immigrants' Task Force on Immigrant Healthcare Professionals.

And with an aging native-born workforce, a projected increase from 12 percent to 30 percent in statewide demand for clinicians in all fields by 2020, and an increasingly diverse state population in need of linguistically and culturally competent health care services, the state cannot afford to ignore these barriers to the skills foreign-trained health care professionals have to offer, the report says.

"This is an opportunity to help the commonwealth capitalize on these skills for our economy and our health care system," said Eva Millona, co-chairman of the Governor's Advisory Council and executive director of the Massachusetts Immigrant and Refugee Advocacy Coalition. "It's a win-win for everybody."

The report's recommendations include the creation of a user-friendly, centralized online portal featuring detailed relicensing information and career-development resources for foreign-trained immigrants in licensed professions, with an initial focus on health care; the promotion of pilot programs at one-stop career centers and community colleges that could offer these professionals expert career supports; collaborations with professional associations and philanthropies to pilot funding tools such as a microloan fund to help low-income, foreign-trained professionals cover the educational, testing and licensing costs of re-entering their fields; and the establishment of a staff position in the Office for Refugees and Immigrants to oversee immigrant integration policy, including career pathways for foreign-trained professionals.

Tim Buckley, a spokesman for Gov.-elect Charlie Baker, said Baker "will continue to pursue reforms that grow Massachusetts' economy and strengthen our health care system, and looks forward to reviewing the recommendations of MIRA and all stakeholders involved in the process."

16.30 | 0 komentar | Read More

Research shows owners coming up short on home values

WASHINGTON — Do American homeowners think their properties are worth less than the actual market value, as measured by professional appraisers?

Highly unlikely, you'd probably say. Everybody knows that owners tend to have optimistic impressions of what their homes are worth. They know how much money they've sunk into improving the place and they know — or think they know — the prices for houses in the neighborhood.

But provocative new research from the country's second-largest mortgage lender suggests the opposite may be true. According to new statistical analyses by Quicken Loans, owners on average now underestimate the value of their homes by 1.6 percent compared with appraisers' valuations.

Using massive databases of 50,000 to 60,000 new applications for mortgage refinancings per month, Quicken has created what it calls the Home Price Perception Index to measure the differences between owners' upfront estimates — routinely provided to loan officers as part of the application process — and the appraisals that are subsequently performed.

During November, owners seeking to refinance in roughly three-quarters of the major metropolitan areas covered by the index had lower estimates of their homes' worth than what turned out to be the appraised value, according to researchers. The dollar differences were not huge in most cases — between $2,000 and $4,000 on a $200,000 home. But in a few markets they were considerably larger. Owners in San Jose, Calif., estimated their houses to be worth 
6 percent less than the value subsequently determined by appraisers. With a median sale price of $860,000 for existing homes during the third quarter, a 6 percent perception gap translates into big bucks — $51,600.

In Los Angeles, applicants for refinancings underestimated values on average by 3.8 percent ($482,000 estimate versus $499,641 appraisal); in Seattle, the gap was 2.8 percent ($360,000 versus $370,080); Miami 2.3 percent ($270,000 versus $276,210); Boston 2.2 percent ($400,000 versus $408,880). In the Washington, D.C., area, the gap was 1.8 percent ($389,000 versus $395,885).

Owners overestimated values in a handful of major markets. In Philadelphia, the gap was 1.6 percent, Charlotte, N.C., 
1.3 percent and Chicago 0.3 percent. Quicken researchers found the widespread pattern of undervaluation is in distinct contrast with owners' estimates a few years ago, which often were far out of sync with appraisers' reports.

At the peak of the housing bubble in 2005-06, appraisals often came in below owners' estimates, in part because prices were spiraling upward at double-digit rates in overheated markets. In the recession years following the bust, the gap between what owners believed their homes to be worth and appraisers' valuations gradually narrowed, and by 2013, with the market rebounding solidly in many areas, it virtually disappeared. More recently, the trend has shifted to slight underestimations by owners.

Why are owners a little behind on pricing? Quicken chief economist Bob Walters attributes it in part to the fact that owners are more likely than professional appraisers to lag market trends. "Appraisers are looking at the market all the time," he said in an interview. Owners, especially those who are seeking to refinance but not sell, aren't as likely to stay on top of month-to-month changes.

Appraisers I contacted for reactions generally were skeptical of the Quicken index findings. Kenneth J. Mullinix of Laguna Beach, Calif., said "never" in 20 years in the business "have I done an appraisal where the owner has said to me, 'Wow, the appraised value is higher than I thought."

But one nationally known appraisal expert, Gary Crabtree of Bakersfield, Calif., thinks that Quicken may be on to something. "Today's homeowners have access to numerous (online) valuation tools and multiple listing service systems that they didn't have" until recently, he said in an email. As a result, they "tend to more closely track the market conditions in their neighborhood."

Does it matter much if you underestimate your home's worth by a percentage point or two? It definitely does if you plan to sell — you could end up leaving money on the table.

16.30 | 0 komentar | Read More

Three T rail lines reopen on weekends

The MBTA is restoring weekend service to three commuter rail lines beginning next Saturday, two years after budget constraints forced it to cut the runs.

Saturday and Sunday service will resume for the Kingston/Plymouth and Greenbush lines, and Saturday service will restart for the Needham line.

"We are happy to be delivering weekend service on these three commuter rail lines once again in response to customer demand and opening up more transportation options and access for the communities they serve," acting Massachusetts Department of Transportation Secretary Frank DePaola said in a statement.

The same service schedules as those previously offered will be in effect.

MassDOT and the MBTA said the resumption of service was in response to requests from commuters and state legislators.

This year's state budget included $2 million in funding that allowed the weekend service to be restored.

The MBTA also will start a new weekday schedule for the Needham line Dec. 27, while adjustments in the Newburyport/Rockport line schedule will allow for a new weekday 11:45 p.m. departure from North Station to Newburyport.

All of the new MBTA commuter rail schedules are posted at mbta.com/about_the_mbta/news_events/?id=6442453545&month=&year.

16.30 | 0 komentar | Read More

Row house gets modern updates

This two-bedroom condo is one of two just carved out of a brick row house in Boston's charming Bay Village.

While the upper-floor unit has just gone under agreement, Unit 1 at 34 Melrose St., a 1,229-square-foot first-floor and basement duplex, is available for $1,079,000.

The row house has been completely redone. The exterior has all new windows and a refurbished wood-paneled entryway, and the interior has new dark-stained oak floors throughout. There's a built-in iPad that controls the unit's temperature through Nest thermostats and a built-in sound system with ceiling speakers in most rooms.

Unit 1 opens to the right off the first floor into an open living/dining area with crown molding and 9-foot ceilings with recessed lighting. There are two six-over-six windows and a refurbished fireplace with a black stone hearth.

The adjacent dining area has two windows that overlook a community garden next door, and two more rear-facing windows front on a fire escape.

Off the dining area is a marble-floored half bathroom.

The kitchen space is through a large opening and features Shaker-style white cabinets, bullnose-cut white granite counters and glass-mosaic tile backsplash. Stainless-steel appliances include a Samsung refrigerator, a GE Cafe gas stove, a GE dishwasher and built-in microwave. It has a window and French doors out to a fire escape.

The unit's two bedroom suites are on the lower level, down a set of turning oak stairs with a closet on a landing halfway down. Under the staircase is additional storage.

The master bedroom suite has recessed lighting, but at 12-by-9-feet is average-sized, and it has a small closet. A glass door leads up to a small private fenced-in brick patio that brings in light. The en-suite bathroom has white marble floors and surround for a glass-doored tub and shower. There's a wood vanity topped with polished white granite.

The hallway to the second bedroom holds a closet with a stacked Whirlpool washer and dryer.

The second bedroom suite has an 11-by-9-foot bedroom, on the small side, but it does have a full wall storage built-in as well as upper windows that reach street level and bring in light. There's a small closet. Its en-suite bathroom has a marble tile floor and surround for a walk-in shower as well as a white-granite topped vanity.

The unit has its own water heater, gas-fired central heating and cooling system.

It does not come with a parking space. Residential parking with a permit or renting a space in one of several nearby garages are the options.

Home Showcase

• Address: 34 Melrose St., Unit 1, Bay Village
• Bedrooms: Two
• Bathrooms: Two full, one half
• List price: $1,079,000
• Square feet: 1,229
• Price per square foot: $878
• Annual taxes: To be determined
• Monthly condo fee: $353
• Location: Three blocks from Park Square and quarter mile from shops and restaurants on Boylston Street in Back Bay
• Built in: 1899; gut-renovated into duplex condo in 2014
• Broker: PT Vineburgh of Charlesgate Realty Group at 617-921-9060

Pros:

• Living dining area with crown molding, fireplace, lots of windows
• New dark-stained oak floors, built-in custom window moldings
• Both bedrooms feature en-suite marble bathrooms
• Built-in iPad system controls unit-wide sound system and Nest thermostats

Cons:

• No on-site parking space
• Bedrooms and closets are not large

16.30 | 0 komentar | Read More

Mercedes SUV more than meets the eye

Do not let the understated appearance of the 2015 Mercedes-Benz ML250 make you shy away from taking a long look at this diesel-
powered sport utility vehicle.

Although Mercedes offers a wide array of crossovers and SUVs in many shapes and sizes, I found the ML250 to be a solid, subtle, sporty and hearty entry, if not a head-turner like some of its stablemates.

With its new-to-the-U.S.-market 2.1-liter twin turbo, 200 horsepower engine, this diesel-fuel-sipping SUV is an easy-driving cargo-hauling machine that offers the luxurious, upscale interior finery of the top of the fleet. Yet it's the everyday driving ease that impressed me, along with the very secure sense of wellbeing the vehicle embodies.

But it's the power plant that shines in this car. With average mileage of 26 mpg, I was able to drive the vehicle for a week in mixed driving and used just about 11 gallons out of a 24 gallon tank. What's impressive is the low-end acceleration and quickness of the SUV. A good-sized vehicle, it moves quite amiably, and although the steering has an electronic feel to it, the truck is very responsive and nimble. It's a quiet rider, too. Road noise is minimized, and the standard 18-inch wheels prove a good match.

Hop into the leather-trimmed seats, note the simple yet well crafted door panels and dash, and you'll find the ML250 makes you feel right at home. A thick, leather-wrapped steering wheel frames a two-gauge cluster with all digital information in line of sight. The steering column controls include the gear shifter, wipers, cruise settings and directionals. They are compact and literally at your fingertips. The redundant infotainment controls are classically set at your thumbs while the main controller is driven off the center console.

The standard 4Matic all-wheel drive turns through a seven-speed transmission and, along with a nice Harman Kardon sound system, rounds out some of the core features of this truck. Checking in at an MSRP of about $51,000, our tester was a well-packaged model that priced out at nearly $64,000. A moonroof with powered shade helped give the comfortable cabin a bit of an airy feel, and the legroom in the rear seats was excellent. Some of the extra goodies on the tester included the safety package featuring lane drift, blind spot warning and adaptive cruise control.

Having just tested the BMW X3 diesel a couple of weeks ago, I found both SUVs to be of excellent value and premium construction. Although the ML250 is closer to the X5 in body size, the engines compare favorably. I'd have a tough time deciding which way to go if I were in the market. If you're shopping the luxury and upscale ends of the diesel-powered SUV market, do drive these two.

The ML250 replaces the diesel-powered ML350, and although you give up some raw muscle in horsepower, you make up for it with superior mileage.

16.30 | 0 komentar | Read More

Weak coffee sales hurt Dunkin’ Donuts earnings

Dunkin' Brands announced weaker-than-expected fourth-quarter sales and lowered its 2015 outlook yesterday, blaming declining sales of Dunkin' Donuts' packaged coffee and continued pressure on consumers.

Shares fell as much as 9.45 percent yesterday to $41.85 — the most since Dunkin' Brands' 2011 initial public offering — before closing at $43.05, down 6.86 percent.

"This has been a challenging year for our businesses," CEO Nigel Travis said in a statement. "While our earnings growth expectations for 2015 are below our longer-term targets, we are committed to returning to double-digit growth in the subsequent years."

Struggling joint-venture Dunkin' restaurants in Korea and Baskin-Robbins in Japan also remain under pressure and are forecast to negatively impact 2015 results, according to Travis.

"We are disappointed by the ongoing softness in Dunkin' U.S. (comparable-store sales), which was attributed to a tough environment — presumably being caused by heightened competition — and decelerating sales of packaged coffee — probably weakness in K-cups," Baird Equity Research analyst David Tarantino said in a research note yesterday.

16.30 | 0 komentar | Read More

Boston’s Revere Hotel gets a new owner

Boston's trendy Revere Hotel has a new owner, a little more than 2 1⁄2 years after it debuted following a $29 million transformation of an undistinguished Radisson Hotel into the luxury boutique property.

Bethesda, Md.-based Pebblebrook Hotel Trust, owner of Boston's W Hotel, has bought the 356-room hotel, a lucrative 826-space attached parking garage and a vacant adjacent Stuart Street property for $260.4 million from New York's Northwood Investors.

The parking garage makes it difficult to decipher the strength of Pebblebrook's purchase on a per-room basis, the typical metric for hotel purchases, according to Matthew Arrant, executive vice president of Pinnacle Advisory Group, a Boston hospitality consulting firm.

"The parking garage is a really big component of the revenue stream," he said. "But (the total purchase price) is a testament to the strength of the Boston market right now and how far the market has come since Northwood bought (the hotel)."

Northwood acquired the hotel for $143.5 million in 2010.

It's a strong time for hotel sellers, with additional value gained because of the strength of the market overall, said Andrea Foster, vice president and New England practice leader of PKF Consulting USA.

"It's also a good time for buyers," she said. "With the future forecast for occupancy and rate projections, there's still upside for buyers in the next couple of years."

16.30 | 0 komentar | Read More

Hot Property: Think inside the Box in Chelsea’s Flats at 22

The Flats at 22 in Chelsea's new Box District neighborhood is now leasing — and providing some relief from Boston's high apartment prices.

This is developer Mitchell Properties and builder Traggorth Cos.' third apartment project in the area of former box and bedding factories that has been reborn into a neighborhood of market-rate and affordable apartments and condos as well as a new park along Gerrish Avenue. The Box District won the 2014 Urban Land Institute's Jack Kemp affordable and workforce housing award.

The Flats at 22, with 50-units of mixed-income new construction apartments, is renting market-rate units for as little as $1,425 for studios, which includes a garage parking space and building amenities such as a rooftop fitness center, roof deck lounge, a community room with a full kitchen and projection TV, and an outdoor patio with barbecue grills.

One-bedrooms in the pet-friendly complex start at $1,625 per month and two-bedrooms at $1,900.

The Flats at 22 has 29 market-rate units, of which 20 percent have been leased ahead of a Jan. 15 opening. It's offering one month free rent for 12-to-18-month leases.

"We are renting to a lot of young professionals who have looked for apartments in Boston and balked at the prices," said Tanya Hahnel, Traggorth's project manager for Flats at 22. "You get much more for your money over here along with the amenities and free garage parking."

For example, model Unit 111, a 659-square-foot one- bedroom, has hardwood floors throughout and a recessed-lit kitchen with 18 tall cabinets, bi-level gray granite counters with a breakfast bar, stainless-steel Whirlpool appliances and an open living/dining area with floor-to-ceiling windows and a private back entrance. There are stylish barnboard-style doors, a walk-in closet in the bedroom and a large tiled bathroom. The rent is $1,695 a month, which also includes an in-unit washer and dryer, a tankless water heater and USB outlets for phone charging.

Model Unit 115, with similar finishes and two carpeted bedrooms, two full bathrooms and a private rear entrance, is going for $2,100 a month.

The 46 units at the adjacent The Flats at 44 opened in March, and the 41 market-rate units leased quickly.

"People looking for afford­ability and nice, modern apartments have been finding us," said Margaret Farrell, regional manager of HallKeen Management, which manages the 150 ­total units in Mitchell's three buildings, including the brick-and-beam Atlas Lofts, carved out of a former bedding factory in 2010.

The rehabbed Box District is only a block from City Hall just north of Bellingham Square. A new Silver Line Box District stop connecting to South Station is under construction behind the Flats at 22 and will open in 2016.

"Getting the Silver Line will be a huge boost for Chelsea," said HallKeen marketing manager Courtney Mathiowitz. "And this neighborhood is a national model on how to do mixed-income housing in an urban neighborhood."

Hahnel said that the mostly young professionals renting in Mitchell's Box District properties like the fact that it's a diverse neighborhood with lots of children.

"It's not a sterile place," she said. "It's active and full of life."

16.30 | 0 komentar | Read More

The Ticker

UMass prez leaving for Maryland post

University of Massachusetts President Robert Caret is leaving to become chancellor of the University System of Maryland.

The announcement was made yesterday by James Shea, chairman of the USM Board of Regents. Caret will start his new position July 1.

Caret has served as president of the five-member UMass system since January 2011. He previously served as president of Towson University in suburban Baltimore, part of the University of Maryland system.

State Street names new prez, COO

The board of State Street Corp. has named Michael F. Rogers as president and COO, the company said yesterday. Rogers will report to Jay Hooley, who previously held those posts and will keep his positions as chairman and CEO.

Rogers was appointed to oversee information technology, operations and the firm's global exchange business.

Hooley was appointed president and COO in 2008. He was named chairman and CEO in 2010.

Adelphic raises $11M in financing

Boston-based targeted mobile ad-buying platform Adelphic has raised $11 million in private financing, the company said. The company will use the money to expand internationally and develop cross device targeting of ads.

"This funding round allows us to continue influencing the future of marketing by expanding a DSP that creates more meaningful engagement opportunities for our clients with their audiences — illuminating the real consumers behind their devices," said Michael Collins, chief executive of Adelphic.

The round was led by Blue Chip Venture Co., and included previous investors Matrix Partners and Google Ventures.

TODAY

 Labor Department releases weekly jobless claims

 Conference Board releases leading indicators for November

THE SHUFFLE

Eastern Bank, a full-service commercial bank headquartered in Boston, announced that it has added Paul D. Spiess to its board of directors. Spiess, former chairman of Centrix Bank & Trust's board of directors, was elected to Eastern Bank's board shortly after Centrix merged with Eastern in late October.

 Pingup, provider of a mobile application programming interface that enables directories and software providers to easily add booking capabilities to business listings, announced the addition of Ron Braunfeld as vice president of business development. Braunfeld will focus on building strategic relationships with publishers and listing providers to drive adoption for Pingup's API.

16.30 | 0 komentar | Read More

Patient Fed spurs Wall Street

The Federal Reserve yesterday said it will be "patient" in raising interest rates, sending stocks soaring as Wall Street registered its best day in more than a year.

Fed chairwoman Jan­et Yellen said economic fundamentals will be the guide for raising the benchmark interest rate, not a specific date, and she foresees no rate hikes in the first quarter of 2015.

Yellen also said the central bank would not make policy changes right now, despite plunging oil prices­ and potential turmoil overseas, particularly in Russia.

The Fed made a slight distinction in its policy statement by adding the word "patient," said David Wessel, a federal reserve expert with the Brookings Institution.

"They're trying to not signal any change in policy, (but) wean themselves off of language that was so dependent on when they stop buying bonds and put more focus on the economy," Wessel said.

The Fed also lowered its expectation for inflation, which the bank has repeatedly said is a key indicator that will affect policy.

The Dow Jones Industrial Average closed up 288 points or 1.7 percent, while the Standard and Poor's 500 index closed 40.15 points higher, or 2.04 percent.

16.30 | 0 komentar | Read More

Brewery expansion on tap for Jack’s Abby

Framingham craft beer maker Jack's Abby Brewing will undergo a major expansion that will allow it to ramp up production, offer its beer in cans and 12-pack bottles and open a restaurant and much larger tasting room.

The 3-year-old company has leased new space in Framingham that will expand its brewery more than five-fold to 67,000 square feet with state-of-the-art brewing equipment.

"The craft beer industry, as a whole, has been picking up (and) we've been beneficiaries of that," said Eric Hendler, who cofounded Jack's Abby with brothers Jack and Sam. "Additionally, we do only lagers, which are not very common for craft breweries to make. We feel that distinguishes us to the consumer."

Jack's Abby's best-selling beer is Hoponius Union, an India pale lager.

Its new quarters in a former Avery Dennison plant will have an initial brewing capacity of 50,000 barrels annually — which it doesn't expect to hit in the first year — and space to expand to 125,000. The Hendlers plan to start brewing there in late 2015.

This year, in its current 12,000-square-foot brewery, the company will brew 14,000 barrels to service customers in Massachusetts, Connecticut and parts of New York and Vermont — up from 6,500 barrels last year.

"We're expecting to brew around 25,000 barrels in 2015, which is the maximum our current space is capable of producing," Hendler said.

16.30 | 0 komentar | Read More

Menus will sport new calorie labels for alcohol

WASHINGTON — Don't want to be confronted with the number of calories in that margarita or craft beer? Then avoid the menu and order at the bar.

New menu labeling rules from the Food and Drug Administration will require chain restaurants with 20 or more outlets to list the amount of calories in alcoholic drinks, along with other foods, on menus by next November. The idea is that people often don't know — or even think about — how many calories they are imbibing.

But the rules don't apply to drinks ordered at the bar or any drinks that aren't listed on the main menu. The wine list will also be guilt-free — individual calorie amounts aren't required there either. And unlike other beverages and foods, most bottles and cans don't have to list full nutritional information.

After years of lobbying for more nutritional information on alcoholic beverages, public health advocates say the menu labeling rules are a first step.

"Alcoholic beverages are a key contributor to the calories Americans are consuming, and most of the time when people have a drink they have absolutely no idea what its caloric impact is," says Margo Wootan of the Center for Science in the Public Interest. Her group petitioned the government more than a decade ago to require that bottles and cans be labeled with robust nutritional information.

The FDA's proposed menu labeling rules in 2011 exempted alcohol. But FDA Commissioner Margaret Hamburg said the agency decided to include it in the final rules this year after those who commented on the rule were largely in favor of such labeling because of its potential impact on public health.

The beer, wine and spirits industries objected, arguing that they were regulated by the Treasury Department, not the FDA, a setup that dates back to Prohibition. Treasury's oversight, which includes minimal input from FDA, has "well served the consuming public," a coalition of alcohol groups wrote in a 2011 comment asking to be left out of the menu labeling rules.

The new rules are designed to not be too burdensome for the alcohol industries or restaurants. Endless combinations of mixed drinks won't have to be labeled at bars, unless they are listed on a menu, and the FDA is allowing restaurants to use estimates of calories and ranges of calories without listing the exact amount in every different drink. That means menus will list the average amount of calories in a glass of red or white wine, but won't list calories by every brand of wine on the wine list. Same with beers and spirits.

So every winery or craft brewery won't have to pay to have their products' nutritional content analyzed — for now, at least.

The labeling rules have "more of an indirect effect on our business," says Wendell Lee of the California-based Wine Institute. Lee says brand-specific menu calorie labels could be especially burdensome on the wine industry, where every vintage and varietal is different.

Craft brewers, with many varied brands and styles, have similar concerns.

The regulations "could have a slight chilling effect" on small breweries if some restaurants decide to go beyond them and list calories for individual beers, said Paul Gatza of the Brewers Association, which represents craft breweries.

The rules could have advantages too, he said.

"The more customers know about a brewery, the more they feel connected with it," Gatza said.

Off the menu, labeling rules appear further away.

For years, most alcohol companies have tried to put off mandatory bottle and can nutrition labeling as public health advocates have fought for it. Rules proposed in 2007 would have made such labels mandatory, but the FDA never made the rules final.

Last year, Treasury's Alcohol and Tobacco Trade and Tax Bureau said for the first time that beer, wine and spirits companies could use labels that include serving size, servings per container, calories, carbohydrates, protein and fat per serving. The labels are voluntary and will likely be used mostly by liquor companies touting low calories and low carbohydrates in their products.

Current labeling law for bottles and cans is complicated.

Wines containing 14 percent or more alcohol by volume must list alcohol content. Wines that are 7 percent to 14 percent alcohol by volume may list alcohol content or put "light" or "table" wine on the label. "Light" beers must list calorie and carbohydrate content. Liquor must list percent alcohol content by volume and may also list proof, a measure of alcoholic strength.

Wine, beer and liquor manufacturers don't have to list ingredients but must list substances people might be sensitive to, such as sulfites, certain food colorings and aspartame.

Tom Hogue of the Tobacco Trade and Tax Bureau said the current goal is to make sure that companies that want to label may do so, and that labeling is consistent. It is important that labels "don't mislead the consumer," he said.

___

Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

16.30 | 0 komentar | Read More