COLUMN: MONEY BRIEFS
Westboro lease renewed
WESTBORO - Rand-Whitney Packaging Corp. has renewed its lease on the 73,710-square-foot industrial and warehouse building at 10 Otis St. Ned Halloran, assistant vice president at Boston-based Lincoln Property Co., represented Invesco Real Estate's institutional client, the owner of 10 Otis Street. James Umphrey and Don Mancini of Kelleher & Sadowsky Associates of Worcester represented the tenant in the transaction.
US sues over 401(k)
BOSTON - The U.S. Department of Labor has reached a consent agreement with the administrator and trustee of a defunct DEFUNCT. A term used for one that is deceased or dead. In some acts of assembly in Pennsylvania, such deceased person is called a decedent. (q.v.) Fitchburg company to restore nearly $23,000 owed to the company's 401(k) plan. The department sued Davis Design Associates Inc. and its president, Paul S. Smith, the 401(k) plan trustee, for allegedly violating the Employee Retirement Income Security Act The Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C.A. § 1001 et seq. (1974), is a federal law that sets minimum standards for most voluntarily established Pension and health plans in private industry to provide protection for individuals enrolled in these plans. .
The lawsuit, filed in U.S. District Court, alleged that starting Jan. 1, 2005, the defendants failed to forward to the plan some $1,661 in employee contributions and to take steps to take action; to move in a matter.
See also: Step to collect contributions to the plan. Further, the suit alleges they failed to allocate $21,154 of plan assets to the appropriate plan participant and to ensure the plan was properly administered. The judgment requires restitution In the context of Criminal Law, state programs under which an offender is required, as a condition of his or her sentence, to repay money or donate services to the victim or society; with respect to maritime law, the restoration of articles lost by jettison, done when the to the plan and proper allocation of $22,816, plus interest, to the accounts, and permanently bars Mr. Smith from serving in a fiduciary capacity to any ERISA-covered plan.
ATHOL - The board of directors of L.S. Starrett Co. voted yesterday to issue a quarterly dividend of 12 cents per share Cents per share
The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for class A and B common stock, payable June 26 to shareholders of record as of June 15. The board also voted to set the record date at Aug. 21 for those entitled to vote at the annual meeting of stockholders to be held on Oct. 7.
New software firm
NORTHBORO - With a combined 40 years in the computer and software industries, Frank Leonard of BAESIS Inc. and Joe Barrett Joe Barrett was a very successful Gaelic footballer from County Kerry in Ireland in the 1920s.
Joe won six All-Ireland senior football finals medals with Kerry in 1924, 1926 and the 4-in-row teams of 1929 to 1932, when he was also captain. of AXiXA Corp. have merged their firms to create BAESIS Inc., a distributor of software and IT services. BAESIS is a licensed reseller of popular business software products including Peachtree, ACT! and E-Drawer document management. It also developed a proprietary software product known as MAGNUM MAGNUM - A database language for DEC-10's, used internally by Tymshare, Inc.. MAGNUM was designed in the late 1970's by Dale Jordan, Rich Strauss and Dave McQuoid originally, and was written in BLISS-10. It was the world's first commercial relational database. Opus opus (ō`pəs) [Lat.,=work], in music, term used in cataloging a composer's works, designating either a single composition or a group published together or considered a unit. , which was created to assist legal firms with real estate closings. AXiXA Corp. has been a provider of IT services and consulting to numerous small- to medium-size businesses.
From local and wire service reports