Hyatt Hotels Corp., responding to public outcry, political pressure, and threatened boycotts, yesterday offered the 98 housekeepers it fired last month new jobs at their old wages, a move that was met with mixed reaction by those who protested the firings.
News of the Globe’s intention to charge for Boston.com came a day after News Corp. [NWS] Chairman Rupert Murdoch announced his company would start charging for content at all of its news Web sites, including the New York Post, The Times of London and The Sun, a popular British tabloid. News Corp. already charges for some access to The Wall Street Journal’s Web site.
From the front, Ryan & Wood Inc. Distilleries headquarters looks like a regular strip-mall office. But the building drops down a slope at its rear, creating a warehouse-like space three stories high. It’s there that the two men and still operator Jim Cook work amid pallets of grain and other raw materials, tanks of vodka and barrels of rum and whiskey spirits stacked to the ceiling.
Logue, the chief executive of State Street Corp., a financial services giant in Boston that handles investments around the world, said he first started to worry in 2007, while traveling abroad on business. He feared that markets were becoming so complex and intertwined that the next hedge fund meltdown or foreign currency crisis could threaten the financial system, and ultimately State Street.
A spokeswomen for the state Executive Office for Administration and Finance tells The Boston Globe the money was denied because the project will not produce enough in tax revenue to cover the bond payments.
In the survey, 3 percent of CFOs in the Boston area indicated that they expect to add accounting and finance staff during the third quarter of 2009, and 6 percent anticipate reductions in personnel, according to the most recent Robert Half International Financial Hiring Index; 89 percent of respondents anticipate no change in hiring.
He’s right, of course. But there’s another factor here that might make us yearn for a little more righteous indignation on the part of our mayor. I’m referring to the involvement of a certain newspaper from a certain city. The New York Times Company (NYT) bought the Globe for $1.1 billion in 1993, and later added a 17% stake in two other Boston heirlooms, the Red Sox and Fenway Park.
The meeting came two days after the company reported a first-quarter loss of $74.5 million. With advertisers continuing to pull back, revenue dropped 19 percent in the first quarter, and Chief Executive Janet Robinson said the current quarter looks about as bleak.
For the past few years, ad revenues at the Globe have been declining. Now executives at the Globe have been forced to sell a product to advertisers which may not exist in a month.
Local advertisers, such as Herb Chambers, would likely move the print advertising over to online sites like CNN.com or Boston.com.
Margaret M. Greer “Meg” – Smith Barney Financial Advisor – Waltham, MA
Margaret M. Greer is a Smith Barney Financial Advisor located in Waltham, MA. Margaret M. Greer primarily focuses on Asset Management…