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Is Marty right to bunker down?

Written By Unknown on Sabtu, 26 Juli 2014 | 20.25

A day after the state Gaming Commission suggested Boston was "abandoning" Charlestown, neighborhood residents were split yesterday on whether Mayor Martin J. Walsh did the right thing by breaking off talks with Wynn Resorts about how much money the city should get to cope with the company's proposed Everett casino.

"The mayor is not abandoning Charlestown residents. He was a strong ally in arguing for Charlestown to be considered a host community. ... The commission rejected that," said James Matsoukas, who has lived in Charlestown for three years. "There's just so much the mayor can do to negotiate deals that give the city some compensation, when the party he is dealing with is not forthcoming, not approaching the situation in good faith and making a public offer far below what the project requires. What the mayor is saying implicitly is that a decision has already been made."

The offer Wynn made — but Walsh rejected — called for $6 million in one-time payments and $2.6 million annually, compared to the $30 million upfront and minimum annual $18 million pledged to Boston by Mohegan Sun — Wynn's rival for the sole-Boston-area casino license — for a casino on the Revere side of Suffolk Downs.

But Evelyn Addante said she is "incredulous" that Walsh has ceded all dealings with Wynn over to the commission without telling it what the city wants.

"I believe the traffic impacts and safety implications are so important that the mayor should not have missed an opportunity to provide an estimate of the cost of providing road improvements that would ameliorate these impacts," said Addante, 64.

In an email, Walsh spokeswoman Melina Schuler said: "Wynn failed to provide critical information to the city ... We're confident the commission will not have the same issue accessing information from Wynn and expect it will be able to properly assess the project impacts and award Charlestown an appropriate mitigation package."

On Thursday, the commission said it would have its staff continue to urge Boston to negotiate with Wynn and, if that fails, it may appoint someone to serve as the city's advocate.

Its license deliberations will begin Sept. 8, and the commission hopes to make a licensing decision on Sept. 12.


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California state senator facing additional charge

SAN FRANCISCO — A federal grand jury on Friday charged a California state senator with more felonies in addition to the eight counts he already faced in a sweeping organized crime and public corruption case centered in San Francisco's Chinatown.

A new indictment unsealed in San Francisco federal court charged Sen. Leland Yee with racketeering and conspiracy "to obtain property under the color of official right." Those charges are in addition to the previous bribery, conspiracy and related charges.

Yee pleaded not guilty to the original eight charges. He will have to enter a plea Wednesday to the charges in the new indictment.

The new accusations allege that San Francisco Democrat offered to help pass legislation making it harder for professional football players to obtain workers compensation in California, in exchange for campaign contributions from an unidentified NFL owner.

The new indictment also accuses Yee of taking bribes in exchange for votes in favor of several bills, including one on medical marijuana and another to extend the life of the California State Athletic Commission.

Also charged with racketeering was Raymond "Shrimp Boy" Chow. The grand jury called a Chinese-American association that Chow headed, the Ghee Kung Tong, a racketeering enterprise.

Chow previously pleaded not guilty to money laundering and other charges.

Yee also is accused of accepting bribes and attempting to connect an undercover FBI agent with an arms dealer in exchange for cash. He has pleaded not guilty.

A call to Yee's attorney for comment on the additional charge was not immediately returned. An attorney for Chow, Curtis Briggs, said he was "completely underwhelmed" by the superseding indictment, which he said lacked new investigative findings or new accusations.

"It doesn't hold water, evidenced by the fact that they could have brought the racketeering charge in the first indictment," Briggs said. "We believe that he's innocent, we're still very optimistic about his case, and we look forward to the trial."

Yee was arrested with 19 others in March during coordinated raids throughout the San Francisco Bay Area.

The arrests were the culmination of an FBI investigation started in 2006 after Chow left prison and was elected "dragonhead" of the Ghee Kung Tong. The FBI says undercover agents laundered $2.6 million in cash purportedly garnered through illegal bookmaking through the organization.


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Amazon̢۪s big stock slide shows strategy̢۪s shaky

Time for Amazon to hit the Mayday Button.

Investors are beginning to wake up and realize that maybe this whole thing about putting long-term profits over short-term profits isn't as enchanting and magical as CEO Jeff Bezos once made it seem.

Amazon's stock plummeted an astonishing 
10 percent in a day after the announcement of a $126 million quarterly loss on Thursday — the latest in a long string of losses for the e-commerce beast.

For consumers, Amazon's prices seem impossibly low. And that's because they are, in fact, impossible. You can't sell items that cheaply. No company could ever make a profit by selling goods at or below cost, and that's exactly what Amazon has done for as long as anyone can remember.

Bezos is a puzzling man. The delivery drones. The atomic clock. The Washington Post. Who can figure this dude out? Some commentators have wondered whether Amazon was set up to function as a de facto consumer charity. I've wondered that myself. I've come to quite the opposite conclusion.

Amazon won't raise its prices until it has achieved a majority of the market that brick-and-mortar retailers currently occupies. An entire generation of locally owned small businesses — and mid- to large-sized businesses — hang in the balance.

"The current investment cycle layers in increased technology and content costs as Amazon seeks to build itself into a complete consumption, payment and advertising platform for physical and digital goods," wrote analyst Colin Gillis of BGC Financial in a note to investors yesterday.

In other words, all this taking over the world ain't cheap!

Currently valued at 
$147 billion, Amazon is the 28th largest publicly traded company in the United States. And in the past 48 hours it lost $15 billion of its market value.

Investors are getting antsy.

I'm all about encouraging that sense of angst. Although Amazon's convenience and prices are hard to beat, I find myself spending a little more offline lately: shopping local, paying a little bit more here and there, and chalking it up to charity. You too can help keep Amazon stockholders worried and a little ticked off. You know what to do.


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Home Showcase: Cabot mansion unit receives updates

This unit is part of the former mansion of Godfrey Lowell Cabot, founder of the Cabot Corp., that has seen extensive updating over the past several years.

Unit 3 at 242 Beacon St. is one of nine units carved out of the grand mansion. And Unit 3's living/dining area was the home's original receiving parlor.

Recent renovations include two redone bathrooms, updated kitchen, walnut-stained red oak floors throughout, three new HVAC units, new living room windows and built-in shelving for bedroom closets.

The brick exterior of the building and the roof were recently repaired and the front landscaping was redone last year. The marble floor in the building's lobby was replaced in 2012, and a reconditioned elevator and stairways lead up to the condos.

Unit 3 opens into a foyer with a large storage closet. This space is approved for installation of an in-unit washer and dryer. Right now, there is washer/dryer for common use in the building's basement.

Straight ahead is the unit's updated kitchen with oak floors, recessed lighting, 16 white-painted cabinets and dark granite countertops with a tumbled marble backsplash. Stainless-steel appliances include Kitchen Aid and G.E. Profile.

The large living/dining space has a lot of original detailing such as crown molding and a blue tile-faced original wood fireplace. This recessed-lit room has high ceilings, three new front windows in a bay arrangement and cabinet and bookcase built-ins on either side of the fireplace.

The master bedroom suite has a large arched architectural window and a walk-in closet with newly built-in storage. It has a redone en-suite bathroom with black-and-white ceramic tile floors but does not have a tub or shower, although there's space in a corner of the living room to expand.

There's a also fully redone second full bathroom with black-and-white ceramic tile floors, and this bath does have a deep soaking tub/ shower lined with white subway tile.

The second bedroom does not have a window to the outside, but an interior lightwell with storage space. There's also a closet with built-in storage.

There are three new HVAC units, in the living room and in the two bedrooms with new electric thermostats. Heat and hot water is provided as part of the unit's condo fee.

There is a waiting list for parking behind the building for $300 a month. But the owner may be able to get a nearby transferable rental space for $325 a month.

Home Showcase

• Address: 242 Beacon St., Unit 3, Back Bay
• Bedrooms: Two
• Bathrooms: One full, one half
• List price: $899,000
• Square feet: 1,254
• Price per square foot: $717
• Annual taxes: $9,547
• Monthly condo fee: $407 (includes heat and hot water)
• Location: On Beacon Street near the corner of Dartmouth two blocks from retail and restaurants on Newbury Street, three blocks from offerings on Boylston Street.
• Built in: 1884; updated 2011-2014
• Broker: Robb Cohen of Boston Realty Advisors at 617-962-0142

Pros:

  • Large, open living dining area with original details, new built-ins and new windows.
  • New walnut-stained red oak floors throughout
  • Redone bathrooms with black-and-white tile floors
  • Three new HVAC units and electric thermostats

Cons:

  • En-suite master bathroom doesn't have tub or shower
  • Second bedroom doesn't have window to outside
  • In-unit laundry has not been installed
  • Waiting list for parking behind building

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Car Smart: New Kia Soul offers spirited ride, features

The 2014 Kia Soul 2.0 L is a five-seat wagon with an oddball shape and quirky angular front windows. It looks like anything but a luxury automobile. However, it's equipped like a car twice its cost, boasting some features seen only in high-end models.

This Soul is loaded to the core.

Heated and ventilated seats in this "urban hatchback" keep you the right temperature year-round. The ventilated seats work so well you can even go easy on the air conditioning on a hot day.

The Soul's navigation system has a substantial 8-inch display, but its two-dimensional display will not show a third dimension until a destination is entered.

Also driven by the big touch screen display is the Infinity sound system, which cranks deep rich bass to its eight speakers including a center dash speaker and sub-woofer. The speakers also glow with the music for some mood lighting.

Controls for the audio system are mounted on the leather-wrapped steering wheel as well as on the touch screen.

The Soul has a power panoramic roof with a power sunshade which helps give an open feel to this small car with big features.

Sleek 18" alloy wheels complement its textured front grille and smart- looking headlights.

Kia also equips this car with a backup camera that is among the best. It provides clear detail of the area behind your bumper as you back in and out of those tight parking spots the 13-foot-7-inch Soul can squeeze into.

Rounding out the Soul's nice features is a 6-speed automatic with manual overriding paddle shifters commanding a spirited 2.0-liter inline-4,
164 -horsepower engine.

The Soul sips gas, getting 23 mpg in the city. It is responsive and fun to drive around the city, but the city is where the luxury similarities are left.

While the Soul gets 31 mpg on the highway, I found the 10-way adjustable driver's seats uncomfortable for longer drives. I'd like to see the headrest re-engineered so it is more adjustable and not pushed as far forward as the testers.

Its rigid chassis and tight suspension keep a snug connection to the road, but at higher speeds this car gets bounced around by bumps in the road, possibly because it is so lightweight.

Kia equips this car with a horn that nobody can possibly respect. This is not to suggest that smaller cars should have foghorns, but when other drivers hear such a wimpy sound, it barely gets their attention.

The hands-free phone performance is a major shortcoming, especially these days given the need for full concentration on the road and laws in most other states requiring hands-free cellphone use.

Essentially, the Soul is a well-equipped inexpensive compact wagon that is better for city driving than cruising on the highway in spite of the great mileage it gets.

2014 Kia Soul 2.0 L

  • MSRP: $17,695
  • As tested: $21,295
  • MPG: 23 city, 
31 highway

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Family feud sparks revolt at grocery store chain

Written By Unknown on Jumat, 25 Juli 2014 | 20.25

WEST BRIDGEWATER, Mass. — It's been called a David vs. Goliath story, a "Tale of Two Arthurs" and even the "ultimate Greek tragedy," but the characters in this drama are not Biblical or literary figures. They're grocery store owners.

A workers' revolt at the Market Basket supermarket chain has led to empty store shelves, angry customers and support for a boycott from more than 100 state legislators and mayors.

Industry analysts say worker revolts at non-union companies are rare, but what's happening at Market Basket is particularly unusual because the workers are not asking for higher pay or better benefits. They are demanding the reinstatement of beloved former CEO Arthur T. Demoulas, who workers credit with keeping prices low, treating employees well and guiding the company's success.

The New England grocery store chain is embroiled in a family feud featuring two cousins who have been at odds for decades.

While earlier squabbles between Arthur T. Demoulas and Arthur S. Demoulas were fought in courtrooms, this dispute has spilled into Market Basket stores.

For the past week, warehouse workers have refused to make deliveries to Market Basket's stores, leaving fruit, vegetable, seafood and meat shelves empty. Workers have held huge protest rallies and organized boycott petitions through social media, attracting thousands of supporters.

Customers are defecting to other grocery stores. In some cases, customers have taped receipts from competitors to Market Basket windows.

"We are going to go somewhere else from now on," said Soraya DeBarros, as she walked through a depleted produce department at the Market Basket in West Bridgewater this week. "I'm sad about it because of course I want to keep the low prices, but I want to support the workers."

Despite threats by new management to fire any workers who fail to perform their duties, some 300 warehouse workers and 68 drivers have refused to make deliveries. So far, eight supervisors have been fired. Massachusetts Attorney General Martha Coakley, who is running for governor, and New Hampshire Gov. Maggie Hassan have publicly supported the employees.

"If you had told me that workers at a grocery store would walk out to save the job of a CEO, I would say that's incredible. There is usually such a gulf between the worker and the CEO," said Gary Chaison, a professor of industrial relations at Clark University in Worcester.

Market Basket stores have long been a fixture in Massachusetts. The late Arthur Demoulas — grandfather of Arthur S. and Arthur T. and a Greek immigrant — opened the first store in Lowell nearly a century ago. Gradually, Market Basket became a regional powerhouse, with 25,000 employees and 71 stores in Massachusetts, New Hampshire and Maine.

The feud dates back to the 1970s, but the most recent round of infighting began last year when Arthur S. Demoulas gained control of the board of directors. Last month, the board fired Arthur T., sparking the current uprising.

Workers are fiercely loyal to Arthur T.

"You know the movie, 'It's a Wonderful Life.' He's George Bailey," said Tom Trainor, a district supervisor who worked for the company for 41 years before being fired last weekend over the protests. "He's just a tremendous human being that puts people above profits. He can walk through a store, and if he's met you once, he knows our name, he knows your wife, your husband, your kids, where they are going to school."

Employees said they believe the fight between the family members loyal to Arthur T. and Arthur S. is largely over money and the direction of the company. They say Arthur S. and his supporters have pressed for a greater return to shareholders.

Arthur T. and his supporters have focused on keeping prices low.

Many employees are distrustful of Arthur S. and two co-chief executives who were brought in from outside the company: Felicia Thornton, a former executive of the grocery chain Albertsons, and Jim Gooch, former president and chief executive at RadioShack Corp.

"I'm worried about my job," said Valerie Burke, a worker in the West Bridgewater store. "It's a great company to work for now, but we are worried it won't stay that way," she said as she picketed outside the store Tuesday.

Arthur S. has not spoken publicly, while Gooch and Thornton have communicated only through prepared statements. They assured workers in a statement that they are not planning drastic changes in the way the company is operated, and urged employees to return to work.

Arthur T. on Wednesday offered to buy the company for an undisclosed amount.

Gooch and Thornton declined to comment.

Workers have planned another rally Friday in Tewksbury, while the company's board of directors is scheduled to hold a meeting the same day in Boston.

Steve Paulenka, who started in 1974 as a bag boy and rose to facilities and operations manager before being fired last weekend, said he sees no end to protests unless Arthur T. is reinstated.

"A big part of me doesn't like what's going on — it's like breaking your favorite toy on purpose," he said. "But we'll get through this."


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Regulators foaming over liter beers

Liters of lager are an essential piece of Bavarian beer culture. They're apparently verboten in Bay State beer halls.

The Alcoholic Beverages Control Commission threatened to put Firebrand Saints in Cambridge under surveillance yesterday to ensure it did not go ahead with plans to host a liter-mug patio party last night with Bay State beer maker Notch Brewing Co.

The board argued the promotional mugs used to serve the low-alcohol "session beers" that are Notch's speciality ran afoul of happy-hour regulations, after reading about the party plans in yesterday's Herald.

"We got a call from the ABCC and were told that we'd be under surveillance and that if we served the (liter mugs) we'd get in trouble," said Firebrand Saints owner Gary Strack. ABCC spokesman John Carlisle could not be reached for comment.

A liter is 33.8 ounces, slightly more than two pints. Notch Brewing's session beers are brewed with low- alcohol content, generally about 4 percent, to satisfy drinkers looking for full flavor without the heavy buzz.

"You can get a pint of beer with 10 percent alcohol in this state no problem," said Notch Brewing Co. owner Chris Lohring. "But you can't get a two-pint serving of beer with 4 percent alcohol. It makes no sense."

"We were trying to create the same sort of spirit of a German beer garden," said Strack. "It's a great event with cultural relevance."

As of press time, the party was in full swing, with the following workaround in place: patrons had empty liter mugs, bought full pitchers of sessions beer, and poured them into the mugs, Lohring confirmed.


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A fixer-upper for $3.4 million?

This 8,208-square-foot Chestnut Hill mansion is unlike most high-end properties you'll see in this toney neighborhood.

First of all, the 1904-built home at 152 Suffolk Road was designed in Spanish Mission style, rare for this area, complete with a stucco exterior, red terra cotta tile roof and a pagoda-style entry.

The original 26-acre estate was built for prominent shoe tycoon Clement S. Houghton, and included a large carriage house and a 10-acre garden. The city of Newton acquired the garden in 1968 and turned it into a city park. Other lots were sold off. The main house, which is listed on the National Register of Historic Places, sits on just 1.61 acres now.

For the past 43 years, the main house has been owned by architect Branko Brankovic and his artist wife Angela Vinkler-Petrovic, founders of the well-known Baak jewelry and fine arts gallery in Harvard Square.

"I envision the buyer as someone who's socially prominent in the community and loves to entertain," said Brankovic, who once worked for the storied Architects Collaborative in Cambridge.

The interior of the home has great architectural detail. The main entry hall is lined with oak paneling, has elegant window seat cushions and arts-and-craft style brick floors. There's a sweeping central staircase with an original carved metal chandelier hanging over it. The large dining and living rooms have magnificent fireplaces with carved woodwork and beamed ceilings. There's a study lined with bookcases, a sunroom off the dining room and an outdoor terrace off the living room.

On the market for $3.4 million, the house undoubtedly has great bones, but as a disclaimer in the listing sheet states: "The home is in need of major renovations."

So is this the Boston area's priciest fixer-upper?

"It does need a lot of work," admitted co-listing broker Marjorie Gold of William Raveis Real Estate. "But what we're offering here is a piece of history in a great location."

Not that there haven't been updates. Over the years, Brankovic added a first-floor kitchen (the original is in the basement with its vintage stove), updated the bathrooms and even replaced the tar paper and flashing under the terra cotta roof tiles.

He created and redid the master bedroom suite, but the purple bathroom fixtures here and elsewhere on the second floor are outdated.

There's a great original linen closet with walls of glass cabinets, beautiful hardwood floors and original doors and moldings on the second floor, which has six bedrooms.

There's a warren of rooms on the third floor, which once housed the Houghtons' 11 servants. And there's lots more storage in the huge basement.

Potential buyers should bring their own architects. Giving this grand house the makeover it needs will be a major undertaking.


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Rupert Murdoch's BSkyB to merge with German and Italian sister companies to create pay TV giant

Rupert Murdoch-controlled U.K. pay TV operator BSkyB announced deals on Friday to take control of its German and Italian sister companies to create a pan-European pay TV giant. The total value of the deals will be 5.35 billion ($9.09 billion).

Murdoch's 21st Century Fox owns a 39% stake in BSkyB, 100% of Sky Italia and 57% of Sky Deutschland. The proposed deals, which are subject to shareholder approval, will see BSkyB acquire Fox's stakes in Sky Italia and Sky Deutschland. It also will bid for the remaining Sky Deutschland shares.

The acquisition of Sky Italia will cost 2.45 billion ($4.16 billion) with approximately 2.07 billion ($3.51 billion) to be paid in cash, and the balance to be secured through the transfer of BSkyB's 21% stake in National Geographic Channel Intl. to Fox at a value of 382 million ($649 million).

The acquisition of Fox's shareholding in Sky Deutschland will cost 2.9 billion ($4.92 billion) in cash, valuing Sky Deutschland at EUR6.75 ($9.09) a share. BSkyB will offer Sky Deutschland minority shareholders that price for the remaining shares.

The total worth of the deals to buy Sky Italia and 57% of Sky Deutschland would be 5.35 billion ($9.09 billion). Depending on how many Sky Deutschland minority shareholders accept the offer for their shares, the total cash consideration overall may be up to approximately 7 billion ($11.9 billion).

The coin will add to Fox's war-chest, which it could dip into should it decide to make an improved bid for Time Warner.

The merged entity, which some observers are calling Sky Europe, will have 20 million pay TV subscribers in the U.K., Ireland, Italy, Germany and Austria. Potentially, Sky Europe will be able to reach up to 97 million households. The German market offers large opportunities for growth. Only 20% of German households subscribe to premium pay TV channels, compared with 50% in the U.K., according to research group IDATE. Italy is a tougher market -- Sky Italia has lost more than 200,000 customers since 2011.

Goldman Sachs analysts estimate that combining the three companies could generate synergies of 100 million ($170 million) by 2017, the Financial Times reported Thursday.

Jeremy Darroch, BSkyB's chief executive, said: "This transaction will create a world-class, multinational pay TV business with enhanced headroom for growth and immediate benefits of scale. The three Sky businesses are leaders in their home markets and will be even stronger together. By creating the new Sky, we will be able to use our collective strengths and expertise to serve customers better, grow faster and enhance returns."

Financial analysts have speculated in recent days that Murdoch's long-term goal may be to acquire the remaining shares in BSkyB and then sell Sky Europe to a telco.

BSkyB also announced results for the 12 months ended June 30. Adjusted revenue was up 7% to 7.6 billion ($12.9 billion). Profit after tax was 937 million ($1.59 million), compared with 969 million ($1.65 billion) in 2013.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Report: Google seals deal to buy Twitch for $1 billion

Google has finally clinched a deal to buy videogame-broadcasting company Twitch for $1 billion, VentureBeat reported, citing anonymous sources.

Variety first reported in May that Google had reached a preliminary pact to acquire Twitch for $1 billion in cash, in order to augment its YouTube video site.

Reps for Twitch and Google declined to comment.

Twitch was created by the founders of Justin.tv, a website designed for users to "lifecast" themselves with online video. After a growing number of videogamers began using Justin.tv to broadcast their gameplay, the company launched the dedicated Twitch.tv service in mid-2011.

Privately held Twitch has raised about $35 million in funding -- meaning the $1 billion deal is a significant windfall for its backers. Investors include Bessemer Venture Partners, Alsop Louie Partners, WestSummit Capital, Take-Two Interactive Software, Thrive Capital and Draper Associates. Twitch Interactive, which includes Justin.tv, has about 130 employees.

San Francisco-based Twitch says it has more than 45 million monthly users, who watch an average of 106 minutes of video daily. Users can upload and watch free, live gameplay videos from Microsoft Xbox One and Sony PlayStation 4 consoles. Twitch generates revenue through ads and as well as subscriptions, with about 300,000 paying members.

With Twitch, YouTube could extend live-streaming to other categories, including with multichannel network partners like Disney's Maker Studios and Machinima, which focuses heavily on the male-oriented videogame segment. YouTube's own efforts to intro live broadcasting have had limited success to date.

Google and YouTube also want Twitch because it has established a proven model for subscription-based video. A year ago, YouTube launched a paid-channel initiative with 30 partners, including The Jim Henson Co., NatGeo Kids, Nelvana Enterprises and DHX Media. But to date, the pay channels have seen very little traction. Meanwhile, the Internet-video leader - which generates a large amount of traffic from music videos - expects to launch a paid music service in the next few months.

One potential issue with Google's Twitch deal is that regulators may challenge the transaction if they believe the combination of the No. 1 online-video platform (YouTube) and the No. 1 live-streaming Internet service (Twitch) raises anticompetitive issues. Google's lawyers have been preparing for such an objection, sources said.

In March 2014, Twitch represented 1.35% of all downstream bandwidth on North American fixed-access broadband networks during primetime hours, nearly triple from last fall, according to bandwidth-equipment company Sandvine. YouTube's share of downstream bandwidth was 13.2%, while Netflix remained the biggest consumer of traffic with 34.2%.

(C) 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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