Davis eyes security deals with Sox, Globe

Former Boston Police Commissioner Edward F. Davis is in talks with Red Sox principal owner John Henry to provide security for the Boston Red Sox and the Boston Globe, a spokeswoman confirmed.

Henry and Davis have not yet hammered out a final deal, said Henry spokeswoman Zineb Curran, but discussions are ongoing.

"There have been talks with Ed Davis and his security firm about providing security consulting services for the Red Sox and Fenway Park, however, no formal agreement has been reached at this time," she said in a statement.

Similar discussions are ongoing with the Boston Globe, Curran said.

Henry would not confirm a price for providing the security services.

The deal is on top of Davis' recent other work that includes acting as a security commentator for a local news outlet, as well as a consulting business for national and international police departments.

16.30 | 0 komentar | Read More

Going the preowned route a smart move

Americans typically buy about 15 million to 16 million new cars each year. But it's only a fraction of the nation's used-car sales, which, save for a few down years after the 2008 recession, usually surpass 40 million annually.

"If you think about it," said Philip Reed, senior consumer advice editor at Edmunds.com, "we all drive used cars. The second we drive a new car off the lot, we're driving a used car."

The reasons to get, as Bruce Springsteen said, a "brand new used car" are many. Chief among them: cost. According to auto resource Kelley Blue Book, the median sales price of a new car is $32,342. Most of that cost will often be financed, and loan terms are becoming longer and longer.

The median used-car price is a little more than $18,000.

"People have a restricted budget," Reed said. "A lot of people either can't qualify or don't want to take on a loan, especially younger people who haven't established credit yet. That makes used cars a great option."

Here are some pros and cons of going the preowned route:

PROS

• Price. Monthly payments are much more affordable to buyers on a budget.

• Many preowned vehicles still carry factory warranty coverage.

• Reliability issues aren't what they once were. There are millions of great used-vehicle choices available to the patient, informed buyer.

• Certification programs. As long as these are manufacturer-sponsored programs, these allow consumers to buy with confidence.

CONS

• Are you "buying someone else's trouble," asked Reed. "Has a seller disguised something wrong with a car?"

• Used cars won't have the latest technological innovations. Accident-prevention systems top this list.

• A used car may not have the desired prestige for image-conscious owners.

• The average age of cars on the road is about 11 years old, according to AAA. Older cars usually require more repairs.

"The days of buying a used car carrying a stigma are over," said Michelle Krebs of AutoTrader.com. "In fact, quite the contrary. Buying used is seen as the smart money move by many."

A quick and easy way to determine the viability of a used-car purchase is to use Edmunds.com's "Affordability Calculator." Plug in a few numbers and targets, and the tool quickly spits out a shopping price range. Advanced shoppers can go to their lender beforehand and prequalify for a loan; at that point, the process turns to hitting dealerships, finding the right vehicle and negotiating the price.

Before buying, it's a good idea to check out the vehicle's history. Once that hurdle is cleared, take a test drive and arrange a pre-purchase inspection.

It's a bit of a grind, but worth it when committing thousands of dollars. Probably the most important consideration for shoppers: Be patient.

16.30 | 0 komentar | Read More

Savin Hill rebuild has flair to spare

This Savin Hill property, redone in 2010, has been transformed into a stylish home with high-end finishes and design flair.

Carved out of an 1859 former carriage house, 62 Grampian Way is a legal two-family, with a three-­level two-bedroom unit as well as an income-­generating studio apartment on the ground floor. It's on the market for $729,000.

Located over the Expressway bridge high atop Savin Hill, the house has cedar shingles on the front and sides and HardiePlank clapboard in the rear. The home has stained mahogany floors and built-in surround sound throughout.

The owner's unit is reachable via a stone staircase down to a front paver courtyard. There's a frosted glass front door into a hallway with a half bathroom and a wall of Brazilian tiger­wood cabinets.

To the right is a kitchen with tigerwood cabinets and white Italian marble-topped counters with glass-mosaic tile backsplash. There's a Jenn-Air gas cooktop and oven and cabinet-enclosed refrigerator. There's a waterfall-­style Italian marble island with a dishwasher as well as a breakfast bar that seats three. An adjacent dining area has glass doors out to a front courtyard.

Off the kitchen is the home's showpiece space, a double-height recessed-lit living area with a rolled bamboo ceiling and slatted wood loft space halfway up. In one corner of the room sits a marble-faced horizontal gas fireplace. There's a wall of windows and glass doors out to a treetop mahogany deck.

Mahogany stairs with slatted rails lead to the loft home office space on the second floor that overlooks the living room. There's also a small bedroom on this floor with an en-suite porcelain tile bathroom with a marble-topped vessel sink vanity and a deep soaking tub. Adjacent is a laundry room with full-size washer and dryer and the unit's gas-fired heating and central air conditioning.

The entire third floor is taken up by a master suite with a track-lit vaulted-­ceiling bedroom with a built-in gas fireplace and two frosted door closets with built-in wardrobe systems. The large, stylish en-suite bathroom has porcelain and glass-mosaic surrounds for a deep soaking tub and a walk-in shower with a white marble bench. There's also a marble-topped vanity with a long porcelain sink.

The 350-square-foot ground-floor studio rental unit, down a flight of stone steps, has a separate entrance. It features black ceramic tile floors, a kitchen area with Frigidaire appliances and a bedroom/­living space with glass sliders­ out to a paved-stone patio. Its white tile bathroom has a deep soaking tub and shower.

There's parking for two vehicles in a driveway at the top of the main entry stairs.

Pros:

• Double height living area with wall of glass and marble gas fireplace
• High design Italian marble and Brazilian tigerwood kitchen
• Top-floor master suite with stylish en-suite bathroom
• Treetop rear deck and stone front courtyard
• Ground level studio apartment for extra income

Cons:

• Not much yard space
• Second bedroom in owner's unit on the small side

Home Showcase

• Address: 62 Grampian Way, Dorchester
• Bedrooms: Three
• Bathrooms: Three full, one half
• List price: $729,000
• Square feet: 2,059
• Price per square foot: $354
• Annual taxes: $4,996
• Location: About a half mile to Savin Hill Red Line T station and to restaurants and retail along Savin Hill and Dorchester avenues.
• Built in: 1859, gut renovated in 2010
• Broker: Anne and Craig Galvin of The Galvin Group at 617-426-2000

16.30 | 0 komentar | Read More

AG gets partners deal delay

A judge has again delayed a hearing on the state's controversial settlement with Partners Healthcare over its merger with three smaller hospitals after Attorney General Martha Coakley asked for more time to renegotiate the pact, as a health panel warned the mega-deal could jack up medical costs by as much as $50 million a year.

The next hearing on the deal was pushed back from Aug. 5 to Sept. 29 yesterday after Coakley filed a motion asking for a delay until the state's Health Policy Commission issues a final report on Partners' proposed merger with South Shore Hospital and Hallmark Health System, which operates Lawrence Memorial and Melrose-Wakefield hospitals.

Coakley suggested yesterday her office could negotiate another agreement with the health care goliath, which employs 6,500 doctors and runs eight acute-care hospitals, including Massachusetts General and Brigham and Women's.

"Our office always retained the option to seek to renegotiate portions of this agreement as it relates to Hallmark following a final report by the Health Policy Commission," said spokesman Brad Puffer.

Meanwhile, the state health panel yesterday warned in public comments sent to Coakley that the Partners takeover of the three hospitals would boost costs by between $38.5 million and $49 million for the state's top three insurance companies.

Partners disputes the South Shore Hospital numbers, arguing that savings associated with privately insured patients that the commission failed to calculate would save $158 million.

Coakley's office insists the settlement will control health costs better than any lawsuit could.

Coakley, the frontrunner in the race for the Democratic gubernatorial nomination, has come under fire from her two rivals over the Partners deal.

Pediatrician Donald Berwick launched an online petition against the settlement this week, which his campaign claims garnered 1,000 signatures in just 24 hours. State Treasurer Steve Grossman yesterday wrote a letter to Coakley, saying: "Your rhetoric as attorney general has emphasized transparency and the lowering of health care costs. But in negotiating this current deal, you have fallen far short of each of those objectives."

Coakley's campaign fired back, saying, "Steve Grossman ... is playing politics by changing his position by the day in a desperate attempt to find another way to attack Martha Coakley, regardless of the facts."

16.30 | 0 komentar | Read More

BRA blasted for failing to collect rents

The BRA and one of its affiliates — owed a combined $5.6 million in outstanding rent as of April, according to a recent audit — were criticized yesterday as lenient landlords that are far too "cozy" with the businesses that lease space from the agencies.

But several tenants defended the Boston Redevelopment Authority and its offshoot, the Economic Development Industrial Corp., saying their mission is to promote business growth.

Former state Inspector General Gregory W. Sullivan, a longtime BRA critic, said the agency has an obligation to Boston taxpayers to manage its assets and collect the money due.

"The BRA has a dismal record of collecting the full amount due from its licensees and grantees," said Sullivan, now the research director at the Pioneer Institute. "What we have been seeing is that the BRA is way too cozy with business owners, and they cut them slack and coddle them and do everything but what they are supposed to be doing, which is to get value for the taxpayers... It's an outrage."

But Michael Labadie, president of National Color, a printing company that is behind on its rent for space in the EDIC-controlled Boston Marine Industrial Park, said carping on unpaid rent misses the point.

"It's tough to be a manufacturing company in Boston right now," Labadie said. "I think people do get behind in their rent, and they do try to work with people. The whole program was instituted to keep manufacturing jobs in Boston."

According to the KMPG audit of the BRA released Wednesday, National Color owed the EDIC $93,118 as of April, but the BRA said yesterday the amount in back rent now stands at $24,874.

The audit also contended that as of April, Geekhouse Bike owed the EDIC $86,162, of which $62,704 was 90 days past due. The BRA said yesterday the rent that is three months past due has climbed to $86,162.

Geekhouse owner Marty Walsh said the debt applies to a separate company he owns, Headquarters Boston, that rents EDIC space on Channel Street.

"We're on the right track now ... but we got behind, and now we're trying to fix it," he said. "The BRA is working with us. They want us to stay here and do well."

The two companies are among more than a dozen the audit highlighted for owing the BRA and EDIC large amounts. Copy Cop, a print shop, as of April owed $213,859, of which $197,658 is now 90 days past due; while Pappas Enterprises, a real estate developer, owes $295,908, all of it 90 days past due. Neither company returned messages.

The auditors criticized the BRA for lacking a policy to deal with delinquent tenants and a process to evict them.

"We are trying to support businesses and don't want to force anyone out before negotiating an agreement (on back rent)," said BRA spokesman Nicholas Martin. "But at the same time it's clear there was a lack of a standardized protocol on what do to in these situations where the rent goes unpaid for so long."

16.30 | 0 komentar | Read More

Cutting-edge condos dock in Eastie

An unlikely team of a developer and a contractor from Revere and a Harvard-trained architect is bringing cutting-edge lofts to the East Boston waterfront.

The Marginal Street Lofts, which are adjacent to the Boston Harbor Shipyard & Marina in Jeffries Point, are the first new Eastie water­front condos in decades.

The contemporary design by Elizabeth Whittaker of Boston's Merge Architects has an unexpected exterior — black corrugated metal, red cedar planks and steel-boxed exterior frames with sides wrapped in stainless-steel mesh. Large front windows maximize un­obstructed views of Boston Harbor from all units.

The nine one-bedroom condos, which are 1,126 to 1,191 square feet, cost $549,000 to $679,000. The higher-priced, upper-floor units have private roof decks with harbor views. Each unit comes with a garage space under the building.

"We're hoping this captures the demographic of Boston buyers who don't want to pay $1 million for a condo with the same square footage as our units, but without views and without parking," Whittaker said.

Revere contractor Anthony DelVecchio, who built some commercial work that Whittaker designed, recommended her to Revere developer Michele Catalano of Tay's Realty LLC.

"I was a little gun-shy about the design, but now that it's done I think it's beautiful," Catalano said.

Realtor Paul Campano brought Catalano the three-lot site, where the developer could have built a row of three-families. But Campano, whose niche is unique properties, prevailed on her to be open-minded about a more contemporary design.

"High design and high quality sell," said Campano of Keller Williams.

Trying to put nine units on a tight site required building up and over central corridors to access rear-facing bedrooms.

"It was a challenge to build, something completely out of the box compared to the work we normally do," said DelVecchio. "It takes more time and it's more expensive."

Units have different configurations. Unit 3, on the market for $599,000, has a kitchen/dining area that steps up to a living room with harbor views. Another half flight up leads to a loft-style bedroom.

Unit 9 has a large open kitchen/living/dining area overlooking the harbor and a rear-facing bedroom. This unit and three others have 500-square-foot private roof decks.

Kitchens have quartz or honed-granite countertops, KraftMaid or Ikea cabinets, GE Cafe stainless-steel appliances and Grohe faucets. Living rooms have built-in gas fireplaces. Bathrooms have porcelain tile floors and white tiled tub and showers. There are white oak floors throughout.

Whittaker, who also teaches­ at Harvard's Graduate School of Design, said the Jeffries Point neighborhood and the Boston Re­development Authority were supportive of her design, and she hopes the project will lead to more contemporary design and perhaps a future brand for Catalano's projects.

"I'm a hands-on devel­oper, on site every day," said Catalano. "It's taken a lot of work to get this done but it's come out looking just like the renderings."

16.30 | 0 komentar | Read More

Sepia in on ground floor of red-hot condo market

With 60 percent of its condos sold before shovels hit the ground yesterday, the 83-unit Sepia at Ink Block project on the former site of the Boston Herald has timed the city's hot real estate market well.

"When we decided to build 83 luxury condos there, everyone was asking why we would do that in this part of the South End," said Ted Tye, managing partner of Newton-based developer National Development, at Sepia's groundbreaking yesterday. "Now they're asking us to build more condos."

There are still two more sites on the 6.2-acre property and Tye said he is considering building more condos in the rapidly changing area.

The Ink Block complex already has three luxury apartment buildings with 392 units under construction, along with a ground-floor 50,000-square-foot Whole Foods Market that will open early next year. Sepia's one- to three-bedroom condos, ranging from 510 to 2,000 square feet, are slated to open in the late fall of 2015.

Sue Hawkes, president of The Collaborative Cos., which is handling the sales and marketing for Sepia, said a lot of buyers are South End residents moving up from older properties as well as empty nesters from the suburbs.

"We are averaging about $1,000 a square foot, which is pulling up pricing in the entire neighborhood," Hawkes said.

The eight-story building designed by Boston Elkus Manfredi Architects has a jewel-box look with its projecting balconies and terraces. Amenities include a common rooftop deck, garage parking, a clubroom with kitchen, fitness facility and access to the Ink Block's outdoor pool. Sepia also will have ground-floor retail and restaurant space.

Boston Herald Publisher Patrick J. Purcell, who sold the site to National Development, is a minority investor. Tye said the former Herald outdoor sign will be incorporated into the Ink Block.

The Herald moved to new office space in the Seaport District.

The South End neighborhood was torn down in the 1950s as Boston's first urban renewal project and industrial companies relocated there. "This was once a vibrant neighborhood and we are bringing that back," said Tye.

The district revival also includes the 378-unit Troy Boston apartment project as well as about 600 apartments planned for the former Graybar Electric Co. property.

"This area had become something of a no man's land," said Mayor Martin J. Walsh. "Now its transformation is happening quickly. It's having a new chapter with new residents and new businesses."

16.30 | 0 komentar | Read More

Dow hits 2nd record close in July

The Dow Jones industrial average surged to its second record close this month as major stock indexes rebounded yesterday.

The Dow added 77.52 points to close at 17,138.20. Its previous record high was 17,068.65, set July 3.

Investors had lots of market-moving news to consider, but trading appeared to get the biggest jolt from the latest batch of corporate deal news.

Investors drove Time Warner's stock up 17 percent on news that Twenty-First Century Fox made a takeover bid for the media giant. Other deals involving Apple and IBM as well as slot machine maker International Game Technology also helped lift the market.

"It's a continuation of what we've really been seeing this year, and it's almost a record amount of (mergers and acquisitions) going on," said David 
Chalupnik, head of equities at Nuveen Asset Management.

16.30 | 0 komentar | Read More

Asia stocks surrender gains before earnings, data

SEOUL, South Korea — Asia's major stock markets abandoned earlier modest gains, trading mostly lower on Thursday ahead of the release of U.S. economic data and corporate earnings reports.

Most of the region's markets finished in negative territory or were little changed with the optimism from China's growth report the previous day proving to be short-lived.

South Korea was the only major market that finished higher. The Kospi in Seoul rose 0.4 percent to 2,020.90. The market was boosted by expectations that the country's new pro-growth finance minister would introduce measures to ease housing market regulations and encourage domestic spending.

Japan and Australia were little changed. Tokyo's Nikkei 225 closed 0.1 percent lower at 15,370.26 and Sydney's S&P/ASX 200 added 0.1 percent to 5,522.40.

Hong Kong's Hang Seng dipped 0.1 percent to 23,497.81 while China Shanghai Composite declined 0.6 percent to 2,055.59.

For the rest of the week, earnings reports from Google and IBM are key events on the corporate side. Investors cheered Intel's report of a 40-percent jump in its bottom line, a sign of recovery in PC demand.

The U.S. government is also set to release economic data including unemployment claims and home construction.

The escalation of the U.S. sanctions against Russia appeared to have no immediate impact on Asian markets, although the move hit Russian stocks. The new rounds of U.S. sanctions targeted two major energy firms, a pair of powerful financial institutions, eight weapons firms and four individuals. The U.S. penalties are meant to increase pressure to end the insurgency in eastern Ukraine believed to be supported by Moscow.

In energy trading, benchmark U.S. crude for August delivery was up 32 cents at $101.52 a barrel in electronic trading on the New York Mercantile Exchange. The contract added $1.24 to settle at $101.20 on Thursday.

In currencies, the euro inched down to $1.3526 from $1.3528. The dollar fell to 101.50 yen from 101.65 yen late Wednesday.

16.30 | 0 komentar | Read More

Asia stocks lukewarm after China growth report

TOKYO — Asian stock markets were lukewarm Wednesday after China met expectations of solid but unspectacular growth in the second quarter.

The world's second-largest economy expanded 7.5 percent over a year earlier in the April-June quarter, picking up slightly from 7.4 percent growth in the first quarter, and suggesting the government's mini-stimulus measures had helped to offset a housing slowdown.

The Nikkei 225, the benchmark for the Tokyo Stock Exchange, was little changed at 15,379.30, closing down 0.1 percent after zigzagging in a short range throughout the day.

Hong Kong's Hang Seng added 0.1 percent to 23,489.78, while Seoul's Kospi inched up 0.04 percent to 2,013.48.

China's Shanghai Composite reversed earlier gains to fall 0.2 percent to 2,067.17 while Australia's S&P/ASX 200 inched up 0.1 percent to 5,518.90.

Other Asian stock markets were mostly higher, including shares in Singapore, Indonesia and Thailand.

Communist leaders in China have been trying to boost domestic consumption to drive the economy as its longstanding engines of exports and industrial investment lose momentum. They have acknowledged that growth won't return to the double-digit rates experienced for much of the preceding decade.

"The results were merely in line with expectations. There was relief but nothing was new," said Nobuhiko Kuramochi, head of the investment information department at Mizuho Securities Co. in Tokyo.

In Tuesday's trading, markets drifted as U.S. Federal Reserve chair Janet Yellen did not deviate too much from previous comments and following some lackluster U.S. retail sales figures.

The main focus had been on Yellen, who was delivering her half-yearly testimony to Congress. She largely stuck to her previous script telling lawmakers that the Fed intends to keep providing significant support to the U.S. economy to boost growth and improve labor market conditions.

Her comments didn't dislodge market expectations that the first interest rate increase from the Fed will come next summer. Yellen said the Fed's current monthly bond purchases will likely end in October.

Yellen spoke after figures showed U.S. retail sales grew by only 0.2 percent in June, less than the 0.6 percent expected. However, May's figures were revised up to show a 0.5 percent increase, so the net effect was negligible.

"Today's retail sales report, while not terrible by any means, just isn't all that great," said Dan Greenhaus, chief strategist at BTIG.

In Europe, Britain's FTSE 100 closed down 0.5 percent at 6,710.45 and the CAC-40 in France fell 1 percent to 4,305.31. Germany's DAX fell 0.7 percent to 9,719.41.

In the U.S., stocks finished the day mixed, with the Dow Jones industrial average eking out a tiny gain.

The Dow added 0.03 percent, to 17,060.68 while the Standard & Poor's 500 fell 0.2 percent to 1,973.28. The Nasdaq composite shed 0.5 percent to 4,416.39. The three stock indexes are all up for the year.

In currencies, the euro slipped to $1.3558 from $1.3571 late Tuesday. The dollar edged up to $101.73 yen from 101.68 yen.

Benchmark U.S. crude for August delivery was up 51 cents at $100.47 a barrel in electronic trading on the New York Mercantile Exchange.

___

Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama

16.30 | 0 komentar | Read More