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COLUMN: BUSINESS BRIEFS

Telegram & Gazette Bloomberg Index

Central Massachusetts

-3.48

172.61

Volume: 60,568,548

Up: 6

Down: 17

Unchanged: 6

Gainer: Commerce Group Inc. $36.19 +$0.14 (volume of 590,562 shares)

Decliner: Double-Take Software Inc. $11.21 -$4.09 (volume of 3.7 million shares)

People

WPI gets Immelt

WORCESTER - Jeffrey R. Immelt, chairman and chief executive officer of General Electric Co., will be the commencement speaker at Worcester Polytechnic Institute's May 17 graduation.

Mr. Immelt became chief executive in 2001, succeeding retiring CEO Jack Welch. Mr. Immelt joined General Electric in 1982 and became an officer of the company in 1989. He is on the board of directors of the Federal Reserve Bank of New York. Mr. Immelt is a graduate of Dartmouth College and has a master's degree from Harvard.

Local

St.-Gobain purchase

WORCESTER - Saint-Gobain Abrasives Inc. said it has acquired Moyco Precision Abrasives Inc. of Montgomeryville, Pa. Moyco, which has 45 employees, makes coated abrasive products used to polish and smooth products that include nail files, auto parts and semiconductors. The company traces its roots to 1893.

Clinton units sold

CLINTON - NAI Hunneman, a Boston-based commercial real estate company, said it brokered the $16.5 million sale of Town Lynne Village at 290 Berlin St. and Camelot Apartments at 1021 Main St. Robert Tito, executive vice president and principal of NAI Hunneman, represented the seller, Clinton Management Corp. and Camelot Management Corp., and procured the buyer, Micozzi Management, a Boston-based apartment rental, commercial leasing, management and investment company. The combined transaction totaled 193 units.

Evergreen speaks

MARLBORO - Evergreen Solar Inc., a manufacturer of solar power products, will give a presentation at the Deutsche Bank Small and Mid Cap Growth Conference in Naples, Fla. at 8 a.m. Feb. 15. Chief Financial Officer Michael El-Hillow will discuss Evergreen Solar's business strategy and recent accomplishments.

Intel is sued

Intel Corp., the world's largest computer chipmaker, was sued by the University of Wisconsin after the parties failed to agree on licensing a patent related to microprocessors. The university owns a patent for technology it said improves the speed and efficiency of chips. One of the inventors, Gurindar Sohi, presented his work to Intel and offered to discuss licensing it, according to the complaint. WARF contends that Intel never informed Mr. Sohi that it was incorporating the patented technology into its products nor did it seek to license the invention. The university wants compensation for use of its inventions.

ART: PHOTO

CUTLINE: Mr. Immelt
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Title Annotation:BUSINESS
Publication:Telegram & Gazette (Worcester, MA)
Date:Feb 7, 2008
Words:419
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