 | Fri. Sep. 30, 2011 Netezza CEO Jim Baum Out at IBM, On to New “Non-Competitive” Venture
Former Netezza chief executive Jim Baum has left IBM, Xconomy has learned. Baum was the chief executive of Marlborough-based Netezza since early 2009 and oversaw the “big data” analytics company’s $1.7 billion acquisition by IBM almost exactly a year ago. Baum was not reachable for comment, but a spokesperson for IBM confirmed that he left the company a few weeks ago. Netezza’s website no longer lists Baum on its executive team page. BJ’s Wholesale Club buyout completed
Private equity firms Leonard Green & Partners and CVC Capital Partners have completed their $2.8 billion acquisition of BJ’s Wholesale Club Inc., the Westborough-based warehouse club operator said today. BJ’s agreed to the buyout in June. It was considered an attractive target because membership-based warehouse club operators were among the businesses that performed well during the recession as consumers looked to stretch their dollars further. They have continued to perform well during the ongoing economic uncertainty plaguing the US. BostonGlobe.com will continue to be free until mid-October
The Boston Globe said today it will extend the free trial period until mid-October for its new subscription-only website, BostonGlobe.com. The plan was for BostonGlobe.com to start charging for its content tomorrow, but in a memo to employees this morning, publisher Christopher M. Mayer said that the Globe is taking extra time to make technical improvements. BostonGlobe.com launched earlier this month and was to be free to all readers until today. Leaders back casino in N.H. town
A group of Salem officials and business leaders in Salem, N.H., are backing a casino in town. Several people who recently toured a Pennsylvania casino say it’s a safe bet a similar operation could prosper at Rockingham Park. They say it would create thousands of jobs and boost economic development. The group visited the Meadows Racetrack & Casino in Washington, Pa., last month. The Meadows is owned by Millennium Gaming. TomTom will support traffic-jam scholarship
TomTom, the car-navigation device company with a presence in Concord, is launching an International Traffic Foundation, which will help scholars looking to devise ways to ease traffic jams and study gridlock. According to TomTom, its foundation will nurture talent in the field of traffic management, funding Ph.D. and post-doctorate research, publishing research papers, and hosting a number of traffic-related events. Rattle lands BTS Asset Management account
Rattle said that it has been selected to be BTS Asset Management’s first agency of record after an ad agency review. Billings were not disclosed. Headquartered in Lexington, BTS Asset Management provides money management and risk management services to investors. Beverly-based Rattle has a client roster that includes Boston Harbor Cruises, Connecticut Science Center, the City of Salem, Mass., Kittery Shopping Outlets, Samuels & Associates, York Hospital, and Boston Main Streets Foundation. Report: Friendly’s may file for bankruptcy
Friendly’s restaurant chain is considering a potential bankruptcy reorganization and sale, according to a published report. The Wall Street Journal reported today on its web site that Friendly Ice Cream Corp. , of Wilbraham, could seek Chapter 11 protection from creditors as early as next week, and could then try to sell itself through a bankruptcy auction. The Journal cited unnamed sources in its report. Massachusetts economy showing `clear signs’of weakening
The Massachusetts economy, like the nation’s, is showing “clear signs of slowing,” and unemployment remains “troublingly high,” according to a leading group of local economists. Acadian’s Franklin to become CEO
Acadian Asset Management LLC, a Boston-based money manager that uses quantitative techniques to invest, said Churchill G. Franklin will become chief executive officer on Jan. 1, 2013. Franklin has been with Acadian for 25 years, most recently as executive vice president overseeing client service, sales, marketing and technology, the company said today in a statement. He will replace Ronald D. Frashure, 68, who will become chairman as Gary L. Bergstrom retires from that role at the end of this year. AMSC superconductor cable energized in Korea’s power grid
A second-generation superconductor wire made by American Superconductor Corp. has been switched on in Korea’s electricity grid. Devens-based American Superconductor, known as AMSC, said that this is the longest second-generation superconductor cable to be in use in a grid anywhere in the world. According to AMSC, its superconductor power cable systems can conduct up to 10 times the amount of power of conventional cables made with copper wire. Jordan’s: If the Bruins win the cup again, customers could win free furniture
Jordan’s Furniture unveiled a promotion that could have customers winning free furniture if the Boston Bruins repeat as Stanley Cup champions. The promotion, called “The Big Check,” is similar to those that Jordan’s has pegged to the fortunes of the Boston Red Sox. Under the Big Check promotion, sofas, sectionals, beds, dining room tables, rugs, or mattresses purchased starting tomorrow and until October 30 will be free if the Bruins win the championship this season. |
