Massachusetts’ real gross domestic product grew faster than the recovering national economy in the fourth quarter of 2012, increasing at an annual rate of 1.0 percent, according to the latest MassBenchmarks Current Economic Index released today by the University of Massachusetts Donahue Institute and the Federal Reserve Bank of Boston.(Read Full Article)
Spokesman Shawn Watson told Mass High Tech that this is the first engine maintenance award Pratt & Whitney has received from the Republic of Korea.(Read Full Article)
Pratt & Whitney’s F100 engine powers F-15 and F-16 aircraft worldwide, used by more than 23 air forces around the world, the company said. Pratt & Whitney has built more than 7,200 F100 engines, and also supplies the F135 engine for the F-35, F117 for the C-17 and F119 for the F-22.
No layoffs? Sounds too good to be true, right?(Read Full Article)
Well, yes, it does. It turns out there were a number of layoffs after all – or, as NU likes to call them, “Merger-Related eliminations of redundant corporate positions.” Under pressure from the state Department of Public Utilities, NU disclosed in a Nov. 29 letter that at least 173 employees left the company because of merger-related layoffs after the merger was complete.
Employer groups say they are faced with a burgeoning list of new mandates every year that threaten their ability to provide affordable health care to workers.(Read Full Article)
The bill, first filed in 2009 by State Senator Stephen M. Brewer, is designed to mitigate the sometimes astronomical co-pays for newly-approved therapies.
“The bottom line is that this bill is about keeping up with technology. Oral cancer therapies are the future of cancer treatment and most importantly they are not interchangeable with IV drugs,” Brewer said in a statement. “This new law will provide an additional level of comfort for patients as well ...
Springfield, Mass., which has among the highest unemployment rate in the Bay State, had the largest percentage drop in construction employment nationwide over the past year at 27 percent, according to an analysis by the Associated General Contractors of America of U.S. Labor Department data.(Read Full Article)
Chicopee Bancorp, parent of Chicopee Savings Bank, and Springfield-based Hampden Bancorp, parent of Hampden Bank, are weighing sales amid pressure from an activist investor, “people with knowledge of the matter” told Bloomberg.(Read Full Article)
The University of Massachusetts could lose nearly $32 million in federal research funding next year if the Obama Administration and Congress do not reach a deal on automatic cuts to defense and government spending programs in a so-called fiscal cliff scenario, according to UMass.(Read Full Article)
Friendly's Ice Cream LLC has hired Boston-based Regan Communications to handle the struggling restaurant chain's public relations moving forward, the agency said on Wednesday.(Read Full Article)
We’ve got to wait until 2014 before employment in the Bay State returns to pre-recession levels. And after we get there, we’ll be staring at a dramatically different economy than the one we left behind in early 2008.(Read Full Article)
Hosted by Transportation Secretary Richard A. Davey, the sessions are being held statewide to generate ideas and help prioritize the Massachusetts Department of Transportation’s initiatives.(Read Full Article)
The Pittsfield-based parent of Berkshire Bank has been on an acquisition blitz since spring 2011, and it ended the quarter with $4.6 billion in assets compared to $3.9 billion at the end of 2011.(Read Full Article)
The University of Massachusetts Donohue Institute and the Federal Reserve Bank of Boston said the state’s economy grew at a feeble annual rate of 1.9 percent in the third quarter, slower than the national economy.(Read Full Article)
In particular, the report singles out three relatively affordable regions in New England: the I-91 corridor, particularly in the Pioneer Valley area;(Read Full Article)
As of 2010, 15 Bay State colleges have graduation rates at 80 percent or above. All are private, four-year institutions. The top state school is the University of Massachusetts Amherst, at No. 19, with a 68.9 percent graduation rate. Westfield State University, with a graduation rate of 60.5 percent. The University of Massachusetts Boston was far lower, with 41.1 percent.(Read Full Article)
Greg Bialecki, Gov. Deval Patrick’s economic affairs secretary, knows more work needs to be done to help bridge this training gap. He says state officials are launching two related initiatives aimed at boosting the manufacturing sectors in four key regions: the northeastern corner of the state, the South Coast, central Massachusetts, and western Massachusetts.(Read Full Article)
Policyholders are suing the Springfield, Mass.-based insurer, alleging it improperly withheld millions that rightfully should have been disbursed or invested back into the company(Read Full Article)
The Massachusetts Green High Performance Computing Center will house a facility to support the research needs of Boston University, Harvard University, the Massachusetts Institute of Technology, the University of Massachusetts and Northeastern in partnership with the commonwealth of Massachusetts, EMC Corp. (NYSE: EMC) and Cisco Systems (NasdaqGS: CSCO).(Read Full Article)
The good news for Holyoke Hospital is that it recently received $7 million in extra Medicaid funding to support one of the poorest patient populations in the state. The bad news is without those funds, the hospital and its aging facilities would have booked a $5.6 million operating loss in fiscal 2011(Read Full Article)
Manufacturing jobs may have actually declined in Massachusetts in 2011, according to MassBenchmarks, an organization of economists that tracks the state's economic activity.(Read Full Article)