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Bloomberg Index

Central Massachusetts



Volume: 63,017,820

Up: 15

Down: 9

Unchanged: 8

Gainer: Cytyc Corp. $41.44 +$0.70

(Volume of 4.27 million shares)

Decliner: Commerce Group Inc. $33.98 -$0.20

(Volume of 434,800 shares)


SBA official

BOSTON - Mark S. Hayward has been named acting New England Regional Administrator for the U.S. Small Business Administration.

Mr. Hayward will continue to serve as the SBA's Rhode Island district director, a post he has held since 2000. A graduate of Providence College, he replaces Charles E. Summers Jr., who resigned last week. Mr. Summers was recalled to active duty by the U.S. Navy.


Biovest analysis

WORCESTER - Biovest International Inc. said an independent panel reviewing its late-stage anti-cancer vaccine trial found there were no identifiable safety concerns related to the therapy.

The Independent Data Monitoring Committee has requested an interim analysis of all primary and secondary goals of BiovaxID, the company said in a statement.

Rest home 40th

WORCESTER - The Dodge Park Rest Home, 101 Randolph St., will mark its 40th anniversary from 5 to 7 p.m. today. Anthony E. Penny, owner, will be given a key to the city by Worcester Mayor Konstantina B. Lukes.

Suit dismissed

NATICK - Boston Scientific Corp., the world's second-largest maker of heart devices, won dismissal of a suit that faulted two top executives for breaking a contract to make stents with another company that cost $750 million to settle. U.S. District Judge Alvin Hellerstein in New York dismissed the so-called derivative suit today, adopting an earlier finding by the Boston Scientific board which concluded that Chairman Peter Nicholas and ex-finance chief Lawrence Best had not breached their duty to the company.

The suit stems from a separate legal battle in which Boston Scientific, which has operations in Marlboro, was accused by Medinol Ltd., a Jerusalem-based company, of breaking a contract to jointly manufacture stents. Boston Scientific paid $750 million in 2005 to settle Medinol's claims. (Bloomberg News)

Hanover rated

WORCESTER - Fitch Ratings has affirmed its debt and financial strength ratings for The Hanover Insurance Group Inc.

The Chicago-based ratings agency said the property and casualty insurer's rating outlook is stable. Hanover has adequate capitalization and a conservative investment portfolio, but its underwriting results lag those of its peers, Fitch said. Fitch said it will continue to monitor Hanover's efforts to reduce its exposure on Cape Cod, Florida and in Louisiana.
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Title Annotation:BUSINESS
Publication:Telegram & Gazette (Worcester, MA)
Date:Jun 14, 2007
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