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Range Rover maintains its regal reign

Written By Unknown on Sabtu, 21 Desember 2013 | 20.25

Still big, burly and brawny, but always with a regal air, the 2014 Range Rover holds its spot as the aristocrat of full-sized SUVs. Battling able competitors such as the Mercedes-Benz, Cadillac Escalade and Lexus LX 570, Range Rover rules not because of its luxury, but because it still wants to careen through nearly 3 feet of water and not get your feet wet.

In 2013, Range Rover trimmed down the fleet king by almost 800 pounds, and year 2 of the revamp features only a noteworthy tweak — a new 3.0 liter 340- horsepower supercharged V-6 engine replaces the 5.0 liter V-8. And it runs strong and smoothly mated to the slick eight-speed automatic. Gas mileage in this all-wheel-drive titan is 17 miles per gallon in the city and 23 on the highway — an improvement of nearly 4 mpg over earlier models. The V6 is quick, powerful and has excellent acceleration through traffic. It's hard to believe, but this truck easily bests many performance sports sedans, reportedly doing 0-60 mph in 7.1 seconds.

Three trim levels are available and our tester was the base model. All feature the Response 2 Terrain system that can be used either manually or automatically to adjust height and suspension for any type of terrain. Having recently tested and enjoyed driving the top level Range Rover Supercharged, the base model does not disappoint. The classic angular design continues to set this SUV apart from others in the class and, coupled with refined interior components, Range Rover strives to remain atop the competitive pile.

One drawback is that I do not find the driver's seat particularly comfortable to sit in. It feels stiff, a bit bench-like to me. The leather on the base model is nice but not as supple as the Oxford leather the HSE trim features, although it still outpaces many other manufacturers in quality. Fit and finish of the interior is pristine. The blend of soft touch surfaces, leather panels, metal and hard plastics creates a solid and sensible interior that is also very inviting.

The ghostly electronic virtual dash display is standard across the fleet and is subtle yet feeds you all the information you need. This tester had the stock 380-watt 13-speaker system and its sound is terrific. The 8-inch touch screen is easy to use and I found it quite intuitive. All the controls are redundant, responding to voice commands or the steering wheel controls.

As always the high driver's position makes for easy driving and fine sight lines. The rear seats provide plenty of legroom and a quick flip of a lever drops the seats down to create a cavernous deck. The split tailgate makes a nice spot to sit on if you've a picnic packed.

At $86,895, the Range Rover price slots in the middle of the mix of luxury SUVs, but delivers top- notch performance and creature comforts.


20.25 | 0 komentar | Read More

Ariad’s stock soars after drug approved by FDA

Ariad Pharmaceuticals' stock rose 16 percent yesterday after the company announced that the Food and Drug Administration had approved revised prescribing information and other steps the FDA required to allow Ariad to resume marketing and distribution of its leukemia drug, Iclusig.

Commercial distribution of the drug is expected to begin by mid- to late-January after the Cambridge company agreed to change Iclusig's label to include new warnings about the risks of blood clots and heart failure, and to revise recommendations about dosage and administration of the drug.

"We are committed to ... helping patients and their physicians make informed decisions about the most appropriate use of Iclusig in the context of the revised product label," said Dr. Frank Haluska, Ariad's senior vice president and chief medical officer.

At the FDA's request, the company agreed on Oct. 31 to voluntarily suspend marketing of the drug because of concerns that patients taking it could suffer life-threatening blood clots.


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Patriots fan’s paradise

The owner of this new Brookline home will be neighbors with Patriots owner Robert Kraft and quarterback Tom Brady.

The 6,000-square-foot shingle-style home at 324 Heath St. occupies nearly an acre in the wealthy Chestnut Hill enclave of south Brookline, on one of two pieces of land recently sold by Pine Manor College. The other parcel, which is 5.2 acres, went to Brady, whose palatial home is scheduled to be completed by next summer.

Designed by Cambridge architect Peter Quinn, 324 Heath is elegant without being ostentatious, with some farmhouse-style touches such as low-set windows and a wraparound covered rear deck. It has hand-stained oak floors, high-quality window and door moldings, coffered ceilings, stone fireplaces and lots of windows to bring in natural light. Each of its six bedrooms has an en-suite bathroom, and there are porches off most of them.

The home, with expansive living spaces and an attached three-car garage with a media room/guest bedroom above, is on the market for $4,699,000, just reduced by $200,000.

There's a low stone wall in front of the property, and much of its front yard is a U-shaped paver driveway for outdoor parking that also connects to the garage.

The exterior of the home is gray clapboard with large gables with second-floor porches and rounded bumpouts in the back. The covered front entrance is flanked with stone walls, and you enter a two-story foyer with hand-stained oak floors, coat closets, a turning staircase with a Rococo chandelier, a built-in display cabinet and even a stone chimney wall.

To the right is a formal living room where the other side of the chimney wall is a gas fireplace with a carved wood mantel above. There's a backlit coffered ceiling, recessed lighting and five windows.

On the other side of the foyer is a formal dining room with paneled wainscoting, a back-lit coffered ceiling and a Rococo chandelier. Off this room is a butler's pantry with gray granite countertops and a wine cooler.

The formal living spaces open into a huge open family room/kitchen area. The high-end kitchen features white cabinets, gray granite counters and gray glass mosaic tile backsplashes. There's a large center island with built-in microwave. Appliances are high-end stainless steel G.E. Monogram, including an oversized refrigerator, a dishwasher and professional grade gas stove with a white marble tile backsplash and a stainless steel hood. The eat-in area has seven windows overlooking the backyard and a door out to a wraparound covered back deck.

The backyard has a large bluestone patio and grass area edged by a stone wall. From this vantage point you can see some of the acreage of the Kraft and Brady properties on either side.

Back inside, the adjacent family room has a backlit ceiling as well as a rounded bumpout with a wall of windows also overlooking the backyard.

There's a second front entrance on the far left end of the home, with a foyer with a porcelain-tiled half bathroom, direct access to the garage and a set of back stairs to the second floor.

The main foyer's staircase leads up to the oak-floored master bedroom suite with recessed lighting and a gas fireplace with a wood mantel set into a stone chimney. There's a large walk-in closet with custom wardrobe built-ins. The showpiece of the master bathroom is a freestanding soaking tub. It also features porcelain tile floors that are radiant heated, a white marble-lined steam shower, and a granite-topped vanity with two sinks.

The other bedrooms all have oak floors, large closets and en-suite radiant-heated porcelain tile bathrooms. The second bedroom has cathedral ceilings and glass doors out to a balcony. The third bedroom opens onto a back porch. There's a wall of windows in the fourth bedroom. The large fifth bedroom, which also makes a great family/media room, sits above the garage and has three closets,

Also on this floor is a laundry room with a long granite countertop for folding, a sink and storage cabinets.

The sixth bedroom and full bathroom is on the first floor, down a set of back stairs.

The home is prewired so a smart-home. surround sound and alarm systems can be easily installed.

There's a huge unfinished basement that can accommodate more living space. The basement also houses the home's five-zone gas-fired heating and central cooling system.

Broker: Scott Miller of Realty Executives at 617-216-9260


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Boston OKs new farming rules

Boston officials are hoping to open up new opportunities for urban farmers by debuting city land-use regulations that make clear businesses growing fresh produce for inner city consumers are not only accepted, but welcomed.

Outgoing Mayor Thomas M. Menino this week announced the Boston Zoning Commission approved new zoning rules, after a three-year push to raise urban agriculture to a commercial level. The effort brought together city agencies and companies that had pioneered farming in the city.

"Growing food within our city limits means better access to food and economic empowerment, all while cultivating a sense of neighborhood unity and greening our city," Menino said, indicating he will sign the new rules into law.

The Boston Redevelopment Authority worked with the mayor's office in 2010 to launch two pilot "micro-farms" on city-owned land in Mattapan that helped shape the new zoning rules.

Jessie Banhazl, owner of Green City Growers, a Somerville firm that builds horticulture projects in city spaces, said Boston ordinances did not discourage city farming but neither did they regulate it, leaving urban farmers worried about how they would weather opposition from neighbors.

"I think, because of the visibility the ordinances bring to urban agriculture, it will make people more confident to take this on as a career choice," Banhazl said. "I think there's no limit to what will be possible."

There are other communities ahead of Boston, she said, but the new regulations put the Hub at the forefront of big cities in the country pushing commercial agriculture in urban patches and on rooftops.


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Obama names China envoy, economic ties in mind

WASHINGTON — The nomination of veteran Sen. Max Baucus as U.S. ambassador to China reflects the importance to Washington of advancing the economic relationship with the Asian power despite recent strains on security issues.

The Montana Democrat lacks foreign policy credentials but has a track record in pressing Beijing over trade barriers and its currency exchange rate. If his appointment is confirmed by the Senate, he will be looking to see that U.S. companies can benefit from market reforms the ruling communist party promised in November.

While the economic relationship between the countries is loaded with its own problems, including accusations of rampant Chinese cybertheft of U.S. trade secrets, it is one where their national interests are more aligned than on security, as China challenges decades of U.S. military pre-eminence in the Asia-Pacific.

China's declaration of an air defense zone over disputed territory in the East China Sea and a near-collision of U.S. and Chinese naval vessels this month brought those concerns to the fore. Defense Secretary Chuck Hagel on Thursday described China's conduct in the Dec. 5 incident in the South China Sea as "irresponsible."

But when President Barack Obama announced Friday his intent to nominate Baucus as ambassador, he was stressing the senator's work over two decades on economic agreements with China that he said have created millions of American jobs. "He's perfectly suited to build on that progress in his new role," Obama said in a statement and called for a swift confirmation.

Baucus pushed for China's inclusion in the World Trade Organization in 2001, a key step in its integration in the world economy. Since then China has emerged as world's second-largest economy after the U.S., and America's second-largest trading partner. Two-way trade is projected to reach $558 billion in 2013.

But China's record on its WTO obligations is mixed, and trade with the U.S. is skewed heavily in China's favor. As chair of the powerful Senate Finance Committee, which oversees trade, Baucus has in recent years sponsored legislation to punish China for undervaluing its currency to benefit its exporters. The measure never made it into law. He's also criticized China for shutting out U.S. beef imports. But he's remained a strong advocate of expanding trade.

"The economic and financial relationship with China is crucial," said Cheng Li, a China expert at the Brookings Institution, a Washington think tank. "If that part of the relationship is healthy it can spill over and have a positive effect in other areas. But if it's jeopardized it can adversely affect other areas, including on security."

He expected China's leaders to welcome Baucus' appointment, given his stature as a six-term senator and close ties with Obama.

China's Global Times newspaper, which is affiliated with the ruling party, said Baucus' experience made him a good pick for the job.

"We hope and believe that Mr. Baucus can bring his Capitol Hill experience and personal relationship with the president to use in furthering U.S.-China trade ties and the building of a new type of major state-to-state relationship," the paper said, using Beijing's buzzword for its desire to be treated by Washington as an equal.

Comments on China's Twitter-like Weibo microblogging service were also largely positive, although some wondered whether the 72-year-old would be able to adapt to the Chinese capital's notorious smog.

The incumbent is former commerce secretary Gary Locke. As the first Chinese-American ambassador to Beijing, Locke has been a well-known and generally well-liked figure in China. He created a buzz among ordinary Chinese even before he arrived in Beijing after he was photographed wearing a backpack and trying to use a coupon to buy coffee at Seattle's airport. Many Chinese Internet users pointed out the contrast with Chinese bureaucrats, who routinely have aides carry their bags and attend to minor tasks.

Locke has navigated choppy waters in the relationship, notably when dissident lawyer Chen Guangcheng in 2012 sought refuge in the U.S. Embassy on the eve of high-level U.S.-China talks in Beijing. China subsequently allowed Chen to leave for New York, and the talks proceeded.

The latest turbulence has centered on China pressing its territorial claim against U.S. ally Japan in the East China Sea. China's effort to control air space in the region was criticized this week by Secretary of State John Kerry, who said it "clearly increases the risk of a dangerous miscalculation or an accident."

Given the prickly state of the relationship, Bonnie Glaser, a China expert at the Center for Strategic and International Studies, voiced surprise that Obama did not select an envoy with more clout on hard security issues.

She said the nomination of Baucus reflected the president's tendency to focus on the economic aspects of the relationship with China, as he seeks to boost exports and reduce unemployment at home.

His administration wants to "level the playing field" for American companies: curb cybercrime and theft of intellectual property and improve market access, particularly in the heavily restricted services sector. The U.S. has welcomed China's intent to open state-dominated industries wider to private competition and ease limits on foreign investment.

Erin Ennis, vice president of the U.S.-China Business Council, said a key U.S. priority for Baucus should be to negotiate a strong bilateral investment treaty. She said discussions on a text are expected to start early next year, and as new ambassador, Baucus could help China understand what it will take for an agreement to win Senate ratification.

_____

Associated Press writer Christopher Bodeen in Beijing contributed to this report.


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Robert DeLeo: We’re not changing Mass. gaming law for Wynn

Written By Unknown on Jumat, 20 Desember 2013 | 20.25

House Speaker Robert DeLeo yesterday said he doesn't think Massachusetts' gaming law should be modified to suit casino operators, as Las Vegas billionaire Steve Wynn suggested this week.

"When we had written the casino law ... we wanted to make sure we kept that balance between the state getting adequate money and the casinos making adequate profits so that they could hopefully build and create more jobs," DeLeo said. "... I'll take a look at any and all requests to make it better. But my feeling is we have a very good law, and I'm not inclined to make any changes to it. I'm pleased with what we have."

The Winthrop Democrat declined to say whether he had met with Wynn or whether he favored Wynn's proposed casino in Everett over Mohegan Sun's Revere proposal at Suffolk Downs.

Michael Weaver, a Wynn spokesman, said in an email yesterday that it "appears that the speaker and Wynn have the same objectives: to benefit the state while creating jobs and successful enterprises."

But DeLeo took issue with Wynn's remarks during a break from a Gaming Commission hearing earlier this week when he suggested the state's 2011 gaming law may need revisiting.

"In our conversations with the state, we're attempting to get issues resolved that will comfort us," Wynn said. "We're expected to make unequivocal commitments — both in the way we do our business, financially, and everything else — to the state of Massachusetts. And we want to make sure that we have the same thing in return."

"Is it the duty of the state to talk about comforting Mr. Wynn or anyone else?" DeLeo said yesterday. "No."


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Lost piece of Chinatown to rise again

In the 1950s, Paul Lee's family was forced to leave a stretch of Hudson Street that was demolished to build the Southeast Expressway.

Lee, now board chairman of the Asian Community Development Corp., recalled that the block "was full of Chinese families out on the stoops."

"My dad worked in a local restaurant and my mom in a local garment factory," Lee said. "It was a real neighborhood where people looked out for one another."

Now ACDC and joint venture partner New Boston have broken ground on a residential development on that same block, known as Parcel 24, that will bring 50 affordable condos and 95 affordable apartments to a 362-unit complex called One Greenway, which sits at the end of the mile-long swath on top of the Big Dig tunnel.

"We saw it as a time to bring this site back as part of Chinatown that was lost so many years ago," said ACDC Executive Director Janelle Chan.

With many developers saying that luxury housing is the only option in central Boston because of land and construction costs, the developers of One Greenway are out to prove that a project that has a significant amount of affordable housing — 40 percent — can be financially feasible.

The state Department of Transportation controls the long, narrow 64,000-square-foot lot, and awarded the site in 2008, later signing a 99-year ground lease with the developers.

"It helped that the ground lease only charges for the market-rate units," said Sean Sacks, vice president of development for New Boston, which brought its experience in mixed-income development and its commitment to affordable housing in its $190 million Urban Strategy America Fund.

"This is a great opportunity for us and our investors as well, but to do this sort of project requires a commitment," said Sacks, who said that New Boston has been on board since 2005. "It takes more patient money with a triple bottom-line mission."

The complex project has taken many years to develop and finance, but One Gateway was able to get more than $10 million from state and city programs, including city linkage funds.

The first phase, opening in summer 2015, will include a 21-story tower fronting on Kneeland Street with 217 market-rate apartments, and rents ranging from $2,500 for a studio up to $5,500 for a three-bedroom. The units will have all the amenities young professionals are looking for, including a skydeck with city views, a gym and fitness studio.

For the developers, it's not luxury versus affordability.

"We need the market-rate apartments to be successful because these and the affordable component are dependent on one another," Chan said.

The 95 affordable apartments will be in a connected 10-story building, also part of the first phase, and those making less than 50 percent of Boston's area median income will pay about $866 for a one-bedroom, Chan says. Some of the units will be reserved for very low-income and even formerly homeless people, who will pay no more than $531 a month for a one-bedroom. The maximum for a two-bedroom will be around $1,275, with those making 50 percent of the median paying about $1,063.

The second phase of the project, the 50 affordable condominiums, will be farther down Hudson Street in a six-story building, separated from the apartments by a one-third-acre park — much needed green space in this dense neighborhood.

The average two-bedroom condo is expected to cost about $200,000 for those who meet the income guidelines, and will be chosen by lottery.

The affordable condos, scheduled to be finished in summer 2016, are being designed with families in mind, with many three-bedroom units.

"There are very few opportunities for family-sized, affordable ownership here," Chan said.

She said ACDC's mission is also to ensure that Chinatown continues to be a gateway community for new immigrants.

"We know we have to build, not just preserve," said Chan. "The neighborhood has to grow so it doesn't become a ghost of itself as other citys' Chinatowns have. New immigrants bring new life."


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Anti-Koch activists post T bus-stop ads

Environmental activists are launching a new wave of protests against conservative billionaire and WGBH board bigwig David Koch, sponsoring ads at MBTA bus stops with his image and the station's logo calling for his ouster.

"We've discovered that as locals are learning about David Koch's connection to WGBH, their first reaction is one of shock and their second reaction is one of disgust," said Emily Southard, campaign manager for Forecast the Facts. "We are disappointed that WGBH has resisted our calls to kick Koch off the board. That's why we're ... taking it to the local community."

The ads read "Boston: We have a Koch problem," and are located at Harvard University, near Charles River Ventures, Ruggles Station, and Massachusetts Avenue in Cambridge by MIT.

The ads cost about $2,400, she said. The group has received about $5,000 in donations since launching its Koch protests.

"This has probably been one of our most successful fundraisers for Forecast the Facts," said Southard.

The group — including a sign-waiving Elmo — protested outside the WGBH Brighton studios in October and urged trustees to kick Koch off their board.

WGBH spokesman Michael Raia told the Herald that Koch and other board members do not influence programming and that Koch is staying put.

"Nothing has changed with the board," said Raia. "We welcome the diversity of opinions and we appreciated the time Forecast the Facts took. We heard them. The board plans no action."

A spokeswoman for Koch said, "Mr. Koch has never interfered with or tried to influence WGBH's programming decisions and he has no intention to resign from the WGBH board."


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Bay State’s jobless rate now higher than U.S.

The gap between state and national unemployment rates, once just under 2 percent, has been erased after the Bay State posted higher jobless numbers than the nation yesterday for the first time in six years.

The state unemployment rate for November dipped slightly to 7.1 percent from 7.2 percent the previous month, but the U.S. rate, announced earlier, dropped to 7 percent in November.

"Massachusetts recovered early and more strongly and the rest of the nation is now catching up," said Joanne F. Goldstein, secretary of the Executive Office of Labor and Workforce Development. "We're pleased in the direction we continue to head."

Preliminary estimates show that the Bay State gained 6,500 jobs in November. Still, the state unemployment rate has risen 0.6 percent since April, while nationally the rate has dropped 0.5 percent.

Experts say the reasons for the difference aren't clear, but are likely due to a number of factors, not just the government shutdown and the federal cuts known as sequestration.

"The big question is why and I don't have all the answers there," said Eliot Winer, chief economist for the Northeast Economic Analysis Group and former chief economist for Massachusetts.

Some say it is easy to blame the state's job woes on Washington, D.C., but that may not be fair. The state economy also relies on trade with Europe and Canada, which may also be a factor.

"Attributing everything to the sequester and the shutdown is a little overwrought," said Frank Conte of the Beacon Hill Institute.


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Walgreen fiscal 1Q profit jumps 68 percent

Walgreen says its fiscal first quarter earnings soared 68 percent, helped in part by investments that the nation's largest drugstore chain has made in other companies.

Walgreen Co. says its results were helped by its stakes in European health and beauty retailer Alliance Boots and pharmaceutical wholesaler AmerisourceBergen Corp.

The Deerfield, Ill., company earned $695 million, or 72 cents per share, in the three-month period that ended in November. That compares to net income of $413 million, or 43 cents per share a year ago.

Walgreen's revenue climbed 6 percent to $18.33 billion.

Adjusted earnings totaled 72 cents per share, excluding one-time items.

Analysts forecast earnings of 72 cents per share on $18.36 billion in revenue.

Walgreen shares are up nearly 2 percent to $58 in premarket trading.


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Facebook to offer 70 million shares

Written By Unknown on Kamis, 19 Desember 2013 | 20.25

MENLO PARK, Calif. — Facebook plans to offer 70 million shares of its Class A stock in a sale that includes more than 41 million shares from chairman and CEO Mark Zuckerberg, who also will buy Class B shares that carry more voting weight.

The secondary offering of stock comes as the social media network prepares to join the Standard & Poor's 500 index. Its shares fell more than 4 percent in premarket trading Thursday.

The Menlo Park, Calif., company said Thursday that the Class A shares will be offered mainly to index funds whose portfolios are based on stocks included in the index. The S&P 500 will add Facebook on Friday after markets close. The index is a list of companies that have a market capitalization over $4 billion and is meant to be a snapshot of the U.S. economy.

At Wednesday's closing price of $55.57 per share, that would put the total value of the offering, not counting expenses, at about $3.89 billion. The company said Zuckerberg will use most of the proceeds from his sale of Class A shares to pay taxes he will incur in connection with exercising an option to buy 60 million shares of Class B stock.

Each Class B share gives the shareholder 10 votes, while each Class A share comes with one vote. The deal will give Zuckerberg control over nearly 63 percent of the voting power of the company's outstanding stock, according to a Securities and Exchange Commission filing.

Facebook Inc. will offer 27 million Class A shares, and the company expects to use any proceeds for working capital.

The company will have 2.54 billion Class A and Class B shares outstanding after the offering, or about 4 percent more than it had at the end of September.

Facebook's stock went public in 2012. After a rocky start, the company's shares gained momentum and were up more than 46 percent from their initial public offering price of $38, as of Wednesday's close.

The shares then fell more than 4 percent, or $2.32, to $53.26 in premarket trading Thursday 90 minutes before the markets open.


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Holidays key test for Nintendo as Wii U struggles

TOKYO — This holiday season Nintendo faces a critical test with its Wii U video game console that is pitted against Sony's PlayStation 4 and Microsoft's Xbox One as it seeks to revive flagging sales.

Analysts say there's a chance for the Kyoto-based company to stage a turnaround as new game releases such as Super Mario 3D World and Wii Fit U could lift Wii U sales. Should lackluster sales persist, the company which shot to prominence in the 1980s with Family Computer consoles and Game Boy portables might be forced to reconsider the core of its business strategy.

Nintendo's business, long associated with the hit Super Mario, Donkey Kong and Pokemon games, has been shaken in recent years as more people play games on their smartphone and tablets. So far Nintendo has been steadfast in its refusal to adapt games for those devices.

The company reported an 8 billion yen ($81 million) loss for the three months ended Sept. 30. Quarterly Wii U sales nearly doubled to 300,000 units from 160,000 in the previous three months, but cumulative sales remained far short of the company's goal of 9 million units for the financial year ending March 2014.

Eiji Sato, analyst at Toyo Securities, said Nintendo needs "killer content" for the Wii U to turn around its business after a weak lineup of game titles added to its woes. That has caught the company in a vicious cycle because developers are reluctant to create games for a poor-selling console.

Most game creators are also pouring resources into mobile games, which are easier and faster to develop compared with those for home game consoles that take more time, energy and expense due to the need for higher quality graphics, said Sato.

Nintendo's management principle has been to increase the population of gamers in the general public. When its strategy works, Nintendo wins big as it did with the motion-sensing Wii in 2007, Sato said.

The Wii U, the successor to the original Wii, reached cumulative global sales of 3.9 million units at the end of September since its launch over a year ago. In contrast, sales of Sony's PS4 reached more than 2.1 million after going on sale Nov. 15. More than one million Xbox One machines were purchased on the first day of sales in 13 countries on Nov. 22.

The arrival of the PS4 and XBox One leaves Nintendo in a "bad place in the console world," said Steve Boxer, a game reviewer for The Guardian and an avid gamer.

"If I was Nintendo, I would be thinking very hard about some means of damage limitation."

On the latest Super Mario 3D World game, Boxer said it is a "very good game with classic Mario-type platform game action, but it doesn't feel like it's something new and fresh."

But Hirokazu Hamamura, president of gaming magazine publisher Enterbrain, said the PS4 and Xbox One consoles are flying off the shelves because their core fans waited up to eight years for these new consoles to come out. And he said their release was accompanied with strong game software.

What has been happening to the Wii U is very similar to the Nintendo's experience with the 3DS, said Hamamura.

The popular Nintendo handheld device had a suggested retail price of $249.99 in the United States when it first became available in March 2011. After weak sales, Nintendo slashed the price to $169.99 in August of that year.

Strong software titles such as Mario Kart and Monster Hunter ensued and "3DS sales exploded," said Hamamura, who points out that Nintendo now has a pipeline of unreleased games for the Wii U.

Since Sept., the Wii U's recommended retail price has been reduced to $299.99 for the 32-gigabyte model in the U.S. It was $349.99 when it debuted in November last year.

Another price cut is a strong possibility for the Wii U if sales stay sluggish, said Sato, the Toyo Securities analyst. Nintendo has 460 billion yen in cash ($4.4 billion) and is prepared to survive a bad sales year or two, he said.

Still, some say it's time for Nintendo to change rather than take comfort in its big cash pile.

"Nintendo should broaden its revenue stream in order to grow," said Tomoaki Kawasaki, senior analyst at IwaiCosmo Securities.

Nintendo has strong software, with hit titles like Super Mario and Zelda, so it may be prudent to make that content mobile while preserving Nintendo's style, he said.


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Report: 99.8 percent of store scanners accurate

BOSTON — Holiday shoppers in Massachusetts can have confidence that the checkout scanners at their local stores are working properly.

The Division of Standards released the results of its annual survey of retail scanners Wednesday, finding a 99.8 percent accuracy rate.

Officials from the agency checked 98 stores representing 50 retailers across the state, from clothing to electronic stores.

Of more than 2,800 items scanned, only five overcharges were found at five separate stores. The highest overcharge was $3.80.

The survey compared the prices as marked on the actual item or on shelves against the price at the checkout counter.

Overcharges occur when the checkout price rings in higher than the listed price. The division issued a $100 dollar fine to each of the five retailers that had overcharges.

Last year's survey found an accuracy rate of nearly 99.6 percent.


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Daimler, Aston Martin in engine development deal

BERLIN — Daimler AG and British sports car maker Aston Martin Lagonda Ltd have signed a deal that will see the two companies develop engines together and the German company get a stake in Aston Martin.

The companies said Thursday that Aston Martin and Daimler subsidiary Mercedes-AMG will develop V8 engines for a new generation of Aston Martin cars.

Daimler will get a nonvoting stake of up to 5 percent in Aston Martin in several steps as the two companies' partnership progresses. It will receive observer status on the Aston Martin board.

The companies say they're working to conclude a further agreement on supplying electronic components and will look into other areas where they can cooperate.


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Target: 40M card accounts may be breached

MINNEAPOLIS — Target says that about 40 million credit and debit card accounts may have been affected by a data breach that occurred just as the holiday shopping season shifted into high gear.

The chain said that accounts of customers who made purchases using their cards at its U.S. stores between Nov. 27 and Dec. 15 may have been exposed. The stolen data includes customer names, credit and debit card numbers, card expiration dates and the three-digit security codes located on the backs of cards.

The Minneapolis company said it immediately told authorities and financial institutions once it became aware of the breach and that it is teaming with a third-party forensics firm to investigate the matter and prevent future breaches. It. said it is putting all "appropriate resources" toward the issue.

Target Corp. advised customers to check their statements carefully. Those who suspect there has been unauthorized activity on their cards should report it to their credit card companies and call Target at 866-852-8680. Cases of identity theft can also be reported to law enforcement or the Federal Trade Commission.

Target didn't say exactly how the data breach occurred, but said it had since fixed the problem and that credit card holders can continue shopping at its stores.

But news of the breach comes at the height of the holiday shopping season and threatens to scare away shoppers worried about the safety of their personal data.

Target is just the latest retailer to be hit with a data breach problem. TJX Cos., which runs stores such as T.J. Maxx and Marshall's, had a breach that began in July 2005 that exposed at least 45.7 million credit and debit cards to possible fraud. The breach wasn't detected until December 2006. In June 2009 TJX agreed to pay $9.75 million in a settlement with multiple states related to the massive data theft but stressed at the time that it firmly believed it did not violate any consumer protection or data security laws.

An even larger hack hit Sony in 2011. It had to rebuild trust among PlayStation Network gamers after hackers compromised personal information including credit card data on more than 100 million user accounts. Sony was criticized for slowness in alerting users to the breach.

"Target's first priority is preserving the trust of our guests and we have moved swiftly to address this issue, so guests can shop with confidence. We regret any inconvenience this may cause," Chairman, President and CEO Gregg Steinhafel said in a statement Thursday.

Target has 1,797 U.S. stores and 124 in Canada.


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Shopping hits homestretch

Written By Unknown on Rabu, 18 Desember 2013 | 20.25

If yesterday's snow put a crimp in your holiday shopping plans, fret not: Today is "Free Shipping Day," and close to 900 online stores have agreed to a new change this year — no minimum purchase required for orders with guaranteed delivery by Christmas Eve.

With Christmas just a week away, 49.9 percent of consumers expect to finish their shopping online, according to the National Retail Federation.

Meanwhile, this weekend's "Super Saturday" is projected to be among the busiest shopping days of the holiday season for brick-and-mortar stores.

Analyst Ken Perkins said he expects those sales to finally pick up after a couple of weeks of the "typical December doldrums" that follow Black Friday weekend.

In-store retail sales fell 0.8 percent last week from the same period last year, and foot traffic dropped 19.9 percent, as a weekend snowstorm hit the Northeast and Midwest, retail tracking firm ShopperTrak said yesterday.

"The issue is going to be whether it really picks up and there's a crush, or did more sales go online the previous two weeks" said Perkins, of Swampscott's Retail Metrics Inc. "We would expect the retailers ... to ramp up discounts in order to generate more traffic for this final push."

Toys'R'Us yesterday said its stores would stay open for 87 straight hours starting Saturday at 6 a.m. to take advantage of the final rush through 9 p.m. Christmas Eve.

But armchair shoppers can find online stores participating in the sixth annual Free Shipping Day at FreeShippingDay.com. The for-profit venture derives revenue from participating retailers.


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Mohegan Sun chief: Casino law just fine as is

The head of Mohegan Sun, competing with Vegas magnate Steve Wynn for the sole Greater Boston casino license, told the Herald he thinks the state's gaming law is just fine — showing a sharp distinction from Wynn's view that the Bay State's gaming law needs changes before it is conducive to successful casinos.

"I think everybody who got into this process had the opportunity to review the law before we began doing anything, and so I don't know why all of a sudden you would feel that there's things that you don't like," Mohegan Sun CEO Mitchell Etess told the Herald. "We went into this eyes wide open, and I think they've done a really great job overall with the legislation."

In remarks to the media Monday, Wynn, in town to help his company pass a screening by the state Gaming Commission, said he's talking to state officials in an attempt "to get issues resolved that will comfort us," and said some requirements of the law don't jibe with the "arithmetic of gaming establishments." Wynn, who is eyeing a $1.3 billion resort in Everett, declined to be more specific.

The Gaming Commission, which has discussed the merits of the law in meetings and has sway with legislators, appears willing to listen.

"The commission welcomes constructive opinions from participants as it pertains to elements of the statute," commission spokeswoman Elaine Driscoll said. "The commission would consider opinions and then proceed accordingly."

State Rep. Wayne Matewsky (D-Everett) said he's not sure what changes Wynn is seeking, but said it would only be fair for the commission to hear him out after it allowed changes to procedure for Mohegan and Suffolk Downs and permited a second referendum vote in Revere.

"They bent over backward (for Suffolk Downs), as it appears to me," Matewsky said. "If Mr. Wynn is seeking to have some kind of consultation along the line, they could be fair to us just as they've been fair to the other community. Mr. Wynn has worked hard to get this off the ground."

Etess said tax rates in the law — 25 percent of casino gaming revenues and a 5 percent withholding for all winnings over $600 — are in line with other jurisdictions that recently opened to gaming.

"Are there lower tax rates in the industry? Yes, New Jersey and Nevada," Etess said. "But if you look at the jurisdictions that have more recently added gaming, the tax rates are higher. This tax rate is right in the middle, to create a nice revenue for the commonwealth and still create the series of operators who want to participate and be able to get enough returns on their investment."


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B.R.A. adds huddle to end Menino era with project OKs

The Boston Redevelopment Authority is squeezing in an additional meeting Jan. 2 to approve development projects before the Menino administration comes to an end.

"The lending and financing community is very confident in Boston right now, so we want to take advantage of that," BRA spokeswoman Melina Schuler said. "There are projects in the pipeline that we think are going to be ready."

A BRA board meeting tomorrow has hearings on proposed projects, including Boston Properties and Delaware North's 
$950 million redevelopment of the old Boston Garden site into a mixed-use complex with a 600-foot tower and a Star Market. A vote on $7.8 million in tax breaks also is expected.

Other projects up for approval are a 21-story, 202-room hotel at Tremont and Stuart streets; Trinity Place, a 33-story building with 220 hotel rooms and 142 residential units; 1350 Boylston St., a 200,000-square-foot building with 200-plus residential units and ground-floor retail; and Innovation Square, a 355,000-square-foot research and development/manufacturing facility in the Boston Marine Industrial Park.


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The Ticker

Consumer prices unchanged in Nov.

The cost of living was unchanged last month as lower gas prices saved Americans money and offset price increases elsewhere, the government reported yesterday.

November's unchanged inflation rate followed a 0.1 percent drop for October in the Consumer Price Index.

Cisco acquires Collaborate.com

Cisco yesterday said it has acquired Boston-based Collaborate.com, a company that develops mobile tools for document sharing, task management and team communication.

Cisco said that the acquisition will allow it to build better mobile collaboration tools. Collaborate.com engineers will fold into Cisco's collaboration technology group, which includes everything from Webex to video-conferencing tools.

IRobot shares continue to soar 
after Google's Boston Dynamics buy

IRobot shares soared yesterday finishing up 
5.4 percent to 36.71, after already gaining 6.6 percent Monday. The pure-play robotics company that makes the Roomba, which was recently upgraded, seems to be benefiting from Google's acquisition of Boston Dynamics and Amazon's drone delivery system unveiling, moves that show how valuable artificial intelligence and autonomous technology may be in coming years.

Today

  • Commerce Department releases housing starts for November.
  • Federal Reserve policy makers release a statement on interest rates.
  • Senate Finance subcommittee hearing on retirement security.

TOMORROW

  • Labor Department releases weekly jobless claims.
  • National Association of Realtors releases existing home sales for November.
  • Freddie Mac, the mortgage company, releases weekly mortgage rates.
  • Conference Board releases leading indicators for November.

THE SHUFFLE

  • Kirkland Albrecht & Fredrickson, LLC, a CPA firm in the Boston area, announced that Gena F. Badin, left, of Boston has joined the company as a member of the audit staff. Badin's responsibilities include audit engagements and the preparation of basic tax returns.
  • Fenway Sports Management announced that Randall Harris has joined the organization as a sales representative. Harris will be responsible for generating sales revenue across Fenway Sports Group's portfolio of owned and operated properties.

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India central bank keeps interest rate unchanged

MUMBAI, India — India's central bank surprised many Wednesday by keeping its key interest rate unchanged despite a worrying rise in inflation, citing concerns over sluggish economic growth.

The Reserve Bank of India held the benchmark rate at which commercial banks borrow from it steady at 7.75 percent. Markets reacted enthusiastically, with the Bombay Stock Exchange's Sensex index breaking a six-day slump to jump 1.3 percent to 20,872.58 in the hours after the trading.

The central bank had been widely expected to raise the rate for a third time in a row after November inflation rates were worse than expected. Ninety percent of bankers polled by local CNBC-TV 18 ahead of the decision had predicted another 0.25 percent hike.

However, the bank also is walking a tightrope in its monetary policy because raising interest rates too high could weigh down already sluggish economic growth. Asia's third-largest economy hit a 10-year low earlier in its expansion this year before improving somewhat to 4.8 percent in the most recent quarter, still far below the average 8 percent growth India saw for the past decade.

Reserve Bank chief Raghuram Rajan reiterated the tough balancing act, saying the decision was a close one, especially because rising food and fuel costs drove inflation to a 14-month high of 7.5 percent in November.

"Current inflation is too high. I repeat, it is too high," Rajan said, but added that the growth numbers were still "weaker than we would like."

He said there was a risk that being overly reactive to the prices could further weigh down growth in light of recent weak industrial output numbers. And he said the two rate hikes since September should be given more time to take effect.

Since taking over as governor of the RBI, Rajan has kept markets guessing on his moves, hiking the benchmark rate in his first policy review in September when he was expected to keep them steady or even make a cut to try to spur growth.

Speaking to reporters Wednesday, the respected former International Monetary Fund chief economist told reporters he resisted being labeled as either an inflation hawk or dove, adding that the job of the reserve bank is to consider all economic data as a whole.

A drop in India's current account deficit plus the expectation that soaring vegetable prices may come down in coming months prompted the bank to hold the interest rate steady, especially since core inflation — which excludes volatile food and fuel prices — has been more stable.

Rajan warned, however, that it will raise rates again if inflation continues to rise in coming months.

"Let me assure you, the Reserve Bank will be vigilant," he said.


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Nonprofit to invest $20M in South End

Written By Unknown on Selasa, 17 Desember 2013 | 20.25

Community Builders Inc. is planning more than $20 million in renovations to its South End properties, including 32 additional apartment units it has acquired for 
$5 million.

The Hub-headquartered nonprofit housing developer, which has a 49-year history with affordable housing in the South End, will outfit a total of 146 apartments in 29 South End buildings with new safety systems, upgraded heating systems and improved handicap accessibility. The work is scheduled for completion in late 2014.

Included in the rehab program will be the apartments in eight separate, but contiguous buildings at 160-174 West Springfield St. that Community Builders purchased from Ebenezer Homes Associates.

"The acquisition ensures continued affordability and professional management of the Ebenezer-owned apartments as part of the (Community Builders) portfolio," spokeswoman Stephanie Anderson Garrett said.

Community Builders recently formed Historic South End Limited Partnership to combine into one entity the West Springfield Street units and the two other South End Section 8 developments slated for renovations.

It is financing the acquisition and rehab with tax-exempt bonds, 4 percent low-income housing tax credits from the state, federal and state historic tax credits, and a $22.9 million loan from the Massachusetts Housing Finance Agency, according to Garrett.


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Michael Jordan estate fails to sell at auction

HIGHLAND PARK, Ill. — Michael Jordan's 56,000-square foot home in suburban Chicago has failed to sell at auction after the bidding fell short.

Jordan spokeswoman Estee Portnoy says nobody offered the reserve price of $13 million for the seven-acre estate in Highland Park, north of Chicago.

Portnoy says Concierge Auctions publicized Monday's auction well, but that market conditions aren't ideal. She says options for the property will be evaluated next year.

The former Chicago Bulls superstar's home originally was listed at $29 million in early 2012.

It has nine bedrooms, 15 full bathrooms, a pool pavilion and a regulation-size indoor basketball court. It also features what's described as a "gentleman's retreat," complete with a library, wet bar and the original doors from the Playboy Mansion in Chicago.

Jordan now owns the Charlotte Bobcats.


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Buses to make Back Bay to Logan run

The Massachusetts Port Authority plans to launch a new express shuttle bus service between the Back Bay and Logan International Airport.

The agency is soliciting proposals from operators to start the route in April, initially to help mitigate the impact on airport passenger access when the MBTA's Government Center Blue Line Station closes in the spring for at least two years of renovations.

The proposed fare is $5 for the shuttle service, which would run from 5 a.m. to 9 p.m. from the Back Bay and from 6 a.m. to midnight from the airport.

The service is subject to approval by the Massport board once proposals are submitted by the Jan. 23 deadline, according to spokesman Matt Brelis.

The shuttle bus service tentatively is slated to make Boylston Street pickups at the John B. Hynes Veterans Memorial Convention Center and the MBTA's Copley Station, outside the Boston Public Library, before heading to Logan.

Return service from the airport would drop off passengers on St. James Avenue, across from the Fairmont Copley Plaza Hotel, and on Boylston Street at the Hynes. The stops are subject to approval from the Massachusetts Convention Center Authority and the city's Transportation Department.

At the airport, passengers would be dropped off at designated Logan Express stops at the upper-level departure areas of Terminals A, B1, B2, C and E, while pickups would occur at stops at the terminals' lower-level arrival areas.

Massport has reserved the option of extending the service contract for up to three one-year periods after the initial two-year run.


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Google will keep robot co. in Mass.

Boston Dynamics — the maker of uncannily agile robots including Cheetah, WildCat and BigDog — is staying in Massachusetts for now after its acquisition by Google, a purchase that could draw investors to other robotics companies in the state and ultimately lead to more jobs.

A Google spokesman yesterday declined to comment. Marc Raibert, the former Massachusetts Institute of Technology professor who founded Boston Dynamics in 1992, said in an email:

"We have had a great time building our unusual robots and bringing them this far along. Now we are excited to see how much further ahead we can take robotics, working with Google's gangbuster team. Our entire robotics team will continue on, working here in Waltham."

The acquisition — Google's eighth in robotics in the past six months — "materially changes the odds of getting a return if you're a prospective investor in robot companies," said Colin Angle, CEO and co-founder of Bedford-based iRobot.

"Massachusetts is kind of the Silicon Valley of the robot industry, with more than 50 companies here," Angle said.

"If these exits create more of an appetite for investments in robot companies, Massachusetts will benefit disproportionately because we're the hot spot for robot entrepreneurship in the world. Even though we're losing one of our top-tier robot companies as an independent business ... we could see the creation of new jobs as other robot entrepreneurs found new companies here."

Angle said he suspects Google acquired Boston Dynamics to help develop an autonomous car that can drive itself and deliver packages, which could lower costs and decrease delivery times for e-commerce.

Jordan Graham contributed to this report.


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Need for dementia caregivers grows as boomers age

ELMHURST, Ill. — World leaders set a goal for a cure or treatment for dementia by 2025 at the recent G8 summit in London.

But for now, caregiving is among the most pressing issue for people with Alzheimer's and other forms of dementia.

The Chicago-based Alzheimer's Association says there are an estimated 15 million caregivers in the United States. And as baby boomers age and live longer, those numbers are expected to grow.

Katie Halloran, a 29-year-old teacher from suburban Chicago, is one of those caregivers.

She races home each day to her 62-year-old father Mike, who has Alzheimer's, to take over for his paid caregiver. As his condition worsens, she and her siblings are considering full-time care — a move Katie dreads.


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China bans shellfish imports from US West Coast

Written By Unknown on Minggu, 15 Desember 2013 | 20.25

SEATTLE — China has suspended imports of shellfish from the U.S. West Coast, cutting off one of the biggest export markets for Northwest companies.

KUOW public radio reports (http://bit.ly/1fe35To) that the Chinese government imposed the ban after discovering that recent shipments of geoduck clams from Northwest waters had high levels of arsenic and a toxin that causes paralytic shellfish poisoning.

The Chinese government says the ban that started last week will continue indefinitely.

Clams, oysters and all other two-shelled bivalves harvested off Washington, Oregon, Alaska and Northern California are affected.

The U.S. exported $68 million worth of geoduck clams last year — most of which came from Puget Sound. Nearly 90 percent of those geoduck exports went to China.

___

Information from: KUOW-FM, http://www.kuow.org/


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Chamber lists priorities for next Boston mayor

BOSTON — Boston business leaders are out with a list of priorities for the city's incoming mayor.

The Greater Boston Chamber of Commerce unveiled a "growth agenda" that outlines four key initiatives the group hopes Mayor-elect Martin Walsh will focus on after taking office on Jan. 6.

The chamber is calling for Walsh to work with business and government leaders throughout Greater Boston on infrastructure improvements including the expansion of South Station, upgrades to the Port of Boston and new international connections from Logan International Airport.

The report also asks Walsh to work toward lowering of the city's commercial property tax rate, a streamlining the permitting process and relaxing the current cap on charter schools in Boston.


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Michelin recalls 1.2 million tires in US

WASHINGTON — Tire-maker Michelin says it is recalling about 1.2 million tires sold in the U.S. because an increasing number are experiencing tread loss or rapid air loss.

The tires are commonly used for pickup trucks, heavy-duty vans, small RVs and commercial light trucks. The Greenville, S.C-based company says no deaths or injuries have been reported because of the tires.

The tires, known as Michelin LTX M/S tires, were manufactured between January 2010 and June 2012. They were sold as original equipment on some vehicles and as new replacement tires.

The company says that fewer than 200 of the tires have been returned by customers. Owners can have them replaced at Michelin stores for no charge.


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Reading the tech tea leaves

Predictions are a tricky business, but I did tell you last year that 2013 would be the year that Best Buy started to go bye-bye, that wearable devices like the Jawbone Up would be huge and that Apple's stock surge would start to collapse. So I'm reading technological tea leaves again for 2014. Here is my five-part forecast for next year:

5: It will be the year foreign diplomacy goes social. We saw the first hint of this Nov. 23, when the Iranian president retweeted Secretary of State John Kerry's comments following a historic agreement on nukes between the two parties in Geneva.

Though I wouldn't call Kerry and the Iranian president "tweeps," Hassan Rouhani's Twitter olive branch received thousands of retweets and exposed a new way to take foreign policy directly to the people — for better or worse — in 140 characters or less. More foreign leaders, perhaps even some right here at home, are sure to follow suit.

4: Health care will go the way of the wearable. Consumers will begin to see and experience many more devices and apps that help them to monitor personal health and wellness, with metrics like blood-sugar levels, blood pressure and more. These devices will begin to automatically send information on you to your doctor, and will be pushed by health insurance carriers who see their value in disease prevention.

3: Google Glass will not come to market. Though I'm as jazzed as anyone about the prospect of augmented reality goggles that make my line of sight a whole lot smarter, I don't see how they get the price down to a level that consumers will be willing to pay. Despite many pronouncements that the product will be available to consumers in 2014, I see the device remaining with a select group handpicked by Google for their beta-testing program, at least for the next year.

2: Haptics will be the next big thing. That's a field of technology devoted to tactile feedback, or in some cases tricking your nerves into thinking they feel virtual objects that aren't actually present.

We'll start to see the first rumblings of tablets that allow you to virtually "feel" a sweater before you buy it online.

1: The next holiday shopping season will feature a new addition: 3-D printers and pens. A beneficiary of this hopefully will be the fine folks at Somerville's Formlabs, whose pioneering 3-D printer, the Form 1, is a sleek-looking producer of three-dimensional objects.


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Fuel assistance drying up

Community activists are urging the federal government to increase fuel assistance funding, saying 50,000 households across the Bay State who depend on the aid to heat their homes may be left out in the cold by Christmas.

"We have thousands of households who do not have enough assistance," said John Drew, CEO of Action for Boston Community Development. "We're not in a position to help a lot of people right now."

ABCD has significantly less money this year, in part because of the federal sequester, to provide fuel assistance benefits to those who heat their homes with oil, Drew said.

"We're starting this winter off with about 25 percent less money than last year," he said.

The maximum benefit for the poorest families is $950, and with oil at $4 a gallon, ABCD is only able to fund one tank of oil, he said, meaning those who applied early will use up their benefits soon. ABCD estimates 5,000 households they help are maxed out and may run out by Christmas, and 50,000 across the state are in the same position.

"In past winters, we had enough money to provide two tanks for the winter," Drew said.

ABCD has received more than 17,000 applications for fuel assistance so far.

Maria Cazeau, a 54-year-old minister who was laid off and receives heating assistance, said she depends on the oil ABCD provides.

"I don't have enough money to support me, so I need that help," Cazeau said.

She said her home needs to be kept warm because a sick, elderly woman is staying with her.

In November, Gov. Deval Patrick and governors of 13 other states sent a letter to Congress seeking a boost in the funding for the Low-Income Home Energy Assistance Program from the current $2.6 billion to $3.6 billion. The letter noted average winter home heating costs have increased by 6 percent.

"LIHEAP is a critical bridge of Americans — many of them elderly, disabled or caring for dependent children — who otherwise may be forced to choose between paying home energy bills and paying for food, medicine or other essentials," the letter said.

Still, Drew said more funding is anything but certain, even with the promise of a newly signed federal budget deal.

"There may be some federal money, and there may not be federal money," Drew said.


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