The Ticker

Third of Americans have no retirement savings

More than a third of American adults have no retirement savings, including 14 percent of those 65 years of age or older, according to a new study released yesterday. The low savings rate for people at or approaching retirement age is alarming, said Greg McBride, chief financial analyst for Bankrate.com, which conducted the survey.

About a quarter — 26 percent — of those age 50 to 64 haven't started saving for retirement, the survey said; the figure was 33 percent of people who are 30- to 49-years-old. Some 36 percent of adults have no retirement funds saved. Overall, 36 percent of those 18 years or older have not started saving for retirement, according to the survey of 1,003 adults.

Harbor Towers hires prof to look at Chiofaro Co.'s waterfront plan

Harbor Towers, the 43-year-old pair of Boston waterfront buildings with more than 1,100 residents, has engaged George Thrush, professor and director of the school of architecture at Northeastern University, for advice on proposed redevelopment plans for the Harbor Garage, owned by Hub developer Don Chiofaro and his partner, Prudential Real Estate Investments.

Thrush and a team of architects and urban planners will assess the recent proposal by the Chiofaro Co. to replace the garage with a mixed-use complex made up of two towers, 660 feet and 550 feet high, and totaling 1.3 million square feet.

Temazcal opening Lynnfield eatery

Temazcal Tequila Cantina, an upscale Mexican food restaurant, will open a new eatery in the MarketStreet development in Lynnfield this fall, and is now hiring 100 workers, including managers, bartenders, kitchen staff, hostesses and servers.

Today

 Commerce Department releases housing starts for July.

 Labor Department releases Consumer Price Index for July.

TOMORROW

 Federal Reserve releases minutes from its July interest rate meeting.

THE SHUFFLE

Ray LaPorte and Ted Desrosiers are joining Martha's Vineyard Financial Group, the wealth management division of Martha's Vineyard Savings Bank. LaPorte and Desrosiers, both affiliated with LPL Financial Services, bring more than 50 combined years of financial services experience. The new relationship will create the largest wealth management group on the island with $300 million in assets under management.

 Smarterer announced that Larry Israelite, an established learning and development executive, is joining its executive team as senior vice president of learning and assessments. Israelite brings over 30 years of enterprise experience to the team, and will play an instrumental role in shaping Smarterer's employee capability platform. Prior to Smarterer, Israelite served as the vice president of corporate learning and development for Liberty Mutual Insurance.

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