Regional Briefs
Initiative Targets Mass. Cos. Willing To Reinvent
A new program called the Next Generation Manufacturing Initiative wants to help reinvent companies in Worcester, Fitchburg and other cities.
The initiative is spearheaded by the Associated Industries of Massachusetts Manufacturing Institute, MassDevelopment and the Worcester-based Massachusetts Manufacturing Extension Partnership. Manufacturers who apply by May 15 could be among the five selected for the program.
But those companies must be "open to change and willing to reinvent themselves," according to the initiative. The first step in the program includes a complete assessment of the company, recommendations for change, a determination of return on investment and a "technology roadmap."
Companies that apply must be committed to growth and expansion in Massachusetts and must be willing to invest in technology, equipment and employees. The initiative will focus on companies in the state's "gateway cities": Worcester, Fitchburg, Lowell, Lawrence, Haverhill, Brockton, Fall River, New Bedford, Holyoke, Springfield and Pittsfield.
Unitil Files To Buy Northern Utilities
Unitil Corp., the New Hampshire-based utility company that provides gas and electrical services in North Central Massachusetts, has filed paperwork with regulatory agencies to buy Northern Utilities Inc., a gas company serving customers in New Hampshire and Maine.
Unitil reports that it plans to take out $160 million in long-term loans to purchase Northern Utilities from its current owner, Indiana-based natural gas company NiSource. Unitil said it will retain Northern's workforce and add more than 40 new jobs.
Currently, Unitil serves 115,000 customers, and the new acquisition will add 52,000 more. The company said the move will also increase its total capitalization by more than 60 percent. Unitil said it expects the regulatory agencies, the Maine Public Utilities Commission and the New Hampshire Public Utilities Commission, to act on the company's request by Oct. 1.
Home Loan Applications Increase
Mortgage applications were up 5.4 percent in the week ended April 4 compared to the previous week, according to the Mortgage Bankers Association market composite index.
The market composite index is a measure of mortgage loan application volume.
The MBA also said its refinance index increased 3.4 percent compared to the previous week and its conventional purchase index increased by 6.1 percent.
According to the MBA, the average interest rate for a 30-year mortgage was up to 5.78 percent from 5.75 percent during the week.
Mass. Labor Demand Remains High
Labor demand in Massachusetts remained relatively strong as online advertised job vacancies posted their first annual decline in March, according to the Conference Board.
The nonprofit business research organization said there were 3.7 million job vacancies advertised online in March. That's a 0.6 percent decline from March 2007 and the first year-over-year decline reported by the Conference Board. The decline reflects slowing annual growth in much of the nation, the board said.
However, the board found 4.24 online job ads per 100 people in Massachusetts' civilian workforce, behind only Delaware, Nevada and Alaska. Also, the board said 136.7 unduplicated job ads appeared in Massachusetts in March, putting it eighth in the nation behind California, Texas, New York, Florida, Pennsylvania, Illinois and New Jersey.
The board said states in the top 10 of those two categories demonstrated continued high labor demand.
The conference board also produces the Consumer Confidence Index and Leading Economic Indicators for the U.S. and other countries.
Business Confidence Index Negative
It's official. Massachusetts employers aren't happy.
The Associated Industries of Massachusetts' business confidence index fell into negative territory in March. The index, which had hovered just above the neutral mark of 50 in January and February, dropped to 47.4. Business confidence hasn't been so low since May 2003, according to AIM.
The survey of AIM member companies found that 43 percent of respondents said the economy is already in recession, and 22 percent said one is likely before the end of the year.
Students: Ethics Low On List Of Job Qualifications
A poll of 725 kids between the ages of 13 and 18 found that 71 percent of young people believe they're ready to solve ethical dilemmas in their work careers, but 38 percent think lying, cheating, plagiarizing and occasionally violence may be necessary to do well.
The Junior Achievement/Deloitte Teen Ethics Survey was given online by Harris Interactive.
Mass. Biz. Schools Highly Ranked
Several Massachusetts schools are among the top 50 undergraduate business programs in the country, according to BusinessWeek magazine. The Massachusetts Institute of Technology's Sloan School led the commonwealth's pack, coming in at No. 9. Boston College came in No. 14 on the magazine's annual list. Bentley College in Waltham came in at No. 30 and Northeastern University in Boston came in at No. 34.
Worcester Polytechnic Institute's part-time MBA program ranked ninth among part-time MBA programs. MIT and Harvard ranked seventh and fourth respectively among full-time MBA programs.
WBJ Web Partners
Most Recent
Most Recent
0 Comments