Issue Highlights: Feb. 20, 2012
BUCKING THE TREND IN SMALL-BUSINESS LENDING – Since mid-2008, when the recession was beginning to take hold across the United States, lending to small business has fallen nationwide. But in Central Massachusetts, lending has gone in the other direction.
THE RISE OF THE ‘LONE WOLF’ ECONOMY – Either out of choice or necessity, there are more self-employed individuals in Central Massachusetts. In fact, between 2002 and 2007, the number of “non-employer firms” in Worcester County grew 15 percent.
INTERNSHIPS PROVIDE EXPERIENCE AND HELP ON THE CHEAP – College students who take on internships, which are usually unpaid, gain work experience they need before they enter a competitive job market after graduation. But at the same time, interns allow employers to complete work that might otherwise go undone.
CENTRAL MASS. OFFICIALS SEE NEGATIVE IMPACT FROM MBTA CUTS - Proposed fare hikes and service cuts at the MBTA may not have an effect on Central Massachusetts business now, but they may impact area officials' efforts to bring Boston-area commuters out here for work and leisure, as well as attempts to make it easier to travel into Boston from here.
NEW STATE PROGRAM AIMS TO RESHAPE PAYMENTS TO NONPROFITS – State officials plan to pilot a new way to pay for social service programs: Don’t pay the providers unless they achieve positive results.
PREACHING AND PRACTICING ENTREPRENEURSHIP IN ATHOL – Mount Wachusett Community College is encouraging potential entrepreneurs to take the leap with the help of its new North Quabbin Entrepreneurship Center in downtown Athol.
THE PAYOFF FOR CHARITIES - According to a report from state Attorney General Martha Coakley's office, only 45 percent of the money raised in 2010 by professional solicitors on behalf of nonprofits went to the nonprofit groups. But the findings also highlight the complications involved in judging the return a nonprofit gets on its fundraising investments.
SPECIAL FOCUS: BANKING & FINANCE
THE BANKING INDUSTRY LANDSCAPE – Small banks, large banks and credit unions are all scattered across Central Massachusetts, but their distribution isn’t even. In the MetroWest area, where median incomes are highest, the larger banks have a stronger presence.
HOME REFINANCINGS KEEP CENTRAL MASS. BANKS BUSY – Home refinancings made up more than 80 percent of mortgage activity one recent week. In Central Massachusetts, local bankers are busy crunching numbers and having homeowners sign on the dotted line.
BERKSHIRE BANK JUMPS INTO CENTRAL MASS. MARKET – Nearly four years after its parent company came up short in a bid to acquire Commonwealth National Bank, Pittsfield-based Berkshire Bank has opened a commercial lending office in the region.
THE LIST
Top SBA Lenders in Central Massachusetts
SHOP TALK
Q&A with Peter Alden of Bay State Savings Bank
VIEWPOINT
EDITORIAL: THE CHANGING FACE OF MANUFACTURING IN MASSACHUSETTS - A recent report trumpeted the return of the manufacturing industry in the Bay State after revealing that there were about 73,000 job openings in the industry in 2011. But there's much the industry and state must do before we can say the industry is back to stay.
VIEWPOINT: CLEAN ENERGY FOR TODAY AND TOMORROW - The state's secretary of energy and environmental affairs defends the Patrick administration's clean energy policies, especially the Green Communitie Act.
VIEWPOINT: WHO'S THE REAL ENEMY IN INTELLECTUAL PROPERTY WARS? - Thanks to the blackout of Wikipedia and the efforts of Google and Facebook, the federal bills known as SOPA (Stop Online Piracy Act) and PIPA (Protect IP Act) have been put on the back burner for revision. But as unpopular as the bills are because of their perception as going against the spirit of keeping the Internet free and open, the problem of stolen goods continues to be pervasive, the founder of an IT services firm argues.
DEPARTMENTS
Behind The Sound Bite: Mortgage Settlement
Knowhow: Estate Planning For The Business Owner
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