Bella Sera announced the purchase of Lorraine Roy Women’s Apparel and portions of its inventory. As part of this business reorganization, Bella Sera plans to keep the name and merge the two stores into a new entity, titling a portion of its Danvers, Massachusetts, store Lorraine Roy at Bella Sera. The merger is scheduled to…
New casino proposal could change the face of Springfield
In a multi-million dollar business formation proposal, Penn National Gaming has offered to develop an $807 million resort in Springfield, Massachusetts, to include a Hollywood-branded resort and casino on 13.4 acres of land in the north end of the city. The proposed development would include establishing the casino into the downtown area along with a…
Staples closings may signal new plan for competitors
The largest office supply chain in the United States has announced its intention to close 45 European locations and is speeding up plans to close 15 U.S. stores. These closings are part of Staples efforts to save around $250 million per year and may work into business formation plans for other companies. Staples Inc. has…
T-Mobile and MetroPCS agree to merger
Over the past decade, U.S. cellphone providers have been involved in a ferocious competition to gain subscribers in a growing market. While some companies have found huge success through this competition, many others are now struggling to stay afloat. This week, a couple of those struggling underdogs reached a business reorganization deal that they hope…
A123 considers cash infusion from Chinese manufacturer
A123 Systems, a battery maker based in Waltham, Massachusetts, reported a second-quarter loss of $82.9 million, or 53 percent of revenue, from the second quarter of 2011. Given the company’s precarious financial position, directors announced that A123 is considering a non-binding memorandum of understanding, or MOU, with a Chinese-based auto parts manufacturer, Wanxiang Group Corp….
Cost of business in Mass. forces decline in national ranking
According to CNBC’s ranking of the country’s friendliest states to do business in, Massachusetts fell from sixth place to 22nd place in one year. Just two years ago our state was in the top five for business-friendly states. The judging categories included cost of living, business friendliness, technology and innovation, quality of life, education, economy,…
New climate of accountability yields better corporate governance
Throughout Massachusetts businesses, activist shareholders are insisting on having a greater voice, litigation seems to be a constant threat, regulators are stepping up enforcement, and whistleblower incentives are bringing misconduct to light. On the plus side, the pressures are also yielding better corporate governance. Corporate board members and directors who once seemed above the fray…
Go west young man and start a company!
As we enter the graduation season and send our young adults out into the world, we thought we’d share this story of a resourceful young businessman with our Worcester, Massachusetts, readers. As a recent high school grad, the 19-year-old put off college and accepted an internship at the AOL offices in California. He was part…
Boston listed as one of top cities to start a business
The Tax Foundation, a tax research group based in the nation’s capital released a new study called, “Location Matters: A Comparative Analysis of State Tax Costs on Businesses.” Looking at several corporate tax categories and other regulations they determined the best and worst countries and states in which to start different companies. Boston, Massachusetts, was…
Being a green Worcester business makes good dollars and sense
Last week the Worcester company Saint-Gobain was tapped with the U.S. Environmental Protection Agency’s Energy Star Sustained Excellence Award for the second year in a row. The manufacturer and producer of products and materials for economical and energy-efficient buildings employs 1,300 people at our local plant. The EPA cited energy efficiencies established by Saint-Gobain last…