Modiv Media, aka MobileLime, was acquired by Florida-based Catalina Marketing Corporation for an undisclosed amount of money, the companies announced today. Modiv, the Quincy-based mobile marketing business, was the Massachusetts Innovation & Technology Exchange Best Commerce Game Changer winner last year. Modiv's applications reportedly influence millions of shoppers each month. Their mobile apps are said to drive over $1 billion in retail sales annually.
The strength of unions representing employee rights continues to dwindle. One of the remaining union contract strongholds was in the airline industry. However, with mergers and falling profits, the airline industry is going through a major labor relations restructuring, according to an industrial relations professor at Massachusetts' Clark University.
The state-of-the-art manufacturing facility that was the former Evergreen Solar Plant has been acquired by Hackman Capital and Calare Properties. The founder and CEO of Hackman Capital said the company is thrilled about the real estate transaction as it builds its presence in the Greater Boston Area. It is looking forward to finding tenants for the facility and expanding employment opportunities in the area.
When a company owner hires vendors to manage and facilitate portions of their property or business, it is imperative that the two parties sign a contract. Business contracts should try to define the responsibilities and actions of each partner under every possible circumstance including tax ramifications, business plans and budgets, and how to handle disputes and breaches. When those contracts and business agreements are also affected by municipal permits, the waters get even murkier.
The town of Foxborough, Massachusetts, must allow FXP LLC, a real estate affiliate of the Kraft Group, to speak at a town meeting to address a dispute over a billboard on property owned by the Kraft Group, which also owns the New England Patriots professional football team. The Patriot's Gillette Stadium and the Kraft Group's Patriot Place shopping center are located in Foxborough. The rare public real estate dispute resulted in the group filing a legal complaint against the town in an attempt to protect their rights as landowners.
Facebook users in Worcester may be interested in knowing that when you don't have an aseptic business contract, you leave yourself and your company wide open to pathogens. As Facebook approaches its Initial Public Offering as early as mid-May, it first has to tie up loose ends, complete any acquisitions in the pipeline and try to settle any pending business litigation. The IPO is expected to raise more than $5 billion for the social media site.
It is a tough time for golf clubs all over the country and Central Massachusetts is no exception. In the last two years, Shaker Hills Golf Club will be the third golf club in Central Massachusetts to be sold at a foreclosure auction. According to this report, many clubs are struggling financially due to the weak economy along with the over building of golf courses in the region in recent years.
According to predictions from a number of economists, interest rates have hit bottom and will gradually rise as the housing market and overall economy recover. If you are waiting to purchase a home or refinance your mortgage because the interest rates might go even lower, you may have missed out. The average rate for a 30-year mortgage hit record lows in February of this year and rose above 4 percent for the first time since last October.
Neighboring Connecticut utility regulators have approved the $5 billion acquisition of Boston's NStar by Northeast Utilities. Once approval is garnered from the Massachusetts Public Utilities Regulatory Authority, the merger would create the largest New England utility owner and provider, serving nearly 4 million electric and gas customers in 632 communities.