The Ticker

Kmart hit by data breach

Retailer Sears Holdings Corp. said the payment data systems at its Kmart stores had been compromised, the latest in a series of computer security breaches to hit U.S. companies in recent months.

The U.S. Secret Service confirmed it was investigating the breach, which occurred in September and compromised the systems of Kmart, which has about 1,200 stores across the United States. The breach did not affect the Sears department store chain.

Sears said it believes hackers made off with some credit and debit card numbers.

More e-cig regs eyed on planes

Federal regulators should consider further regulations on electronic cigarettes on airplanes, the state's top fire official said after his office recently concluded one of the devices caused a small fire on a plane at Logan International Airport.

The Aug. 9 fire, confined to a single piece of luggage in the cargo hold, forced an evacuation of the plane. It was extinguished before the JetBlue aircraft took off. State Fire Marshal Stephen Coan said his office's investigators confirmed that an e-cigarette in a passenger's checked luggage turned on, causing the fire.

Coan sent a letter to the FAA this week about the incident, and U.S. Sen. Edward Markey said he'll ask the FAA to investigate whether e-cigarettes should be allowed on airplanes at all.

Corcoran Jennison files hotel plan

Corcoran Jennison Co. has filed a project notification form with the city to expand the DoubleTree Club by Hilton hotel in Dorchester's Columbia Point.

The Boston developer proposed a six-story, 89,500-square-foot addition that would include 96 new rooms for a total of 187 rooms, an expanded ground-floor restaurant, kitchen and back-of-house space, function rooms and a ballroom.

The addition would take the place of a parking lot on the northeast side of the Mount Vernon Street hotel, which is next to the former 20-acre Bayside Exposition Center site that Corcoran Jennison lost to foreclosure in 2009 and is now owned by the University of Massachusetts-Boston.

Raytheon, UMass Lowell open center

Raytheon and the University of Massachusetts Lowell yesterday officially opened a new collaborative research facility that will advance innovative technologies in a state-of-the-art setting.

The Raytheon-UMass Lowell Research Institute is located at the university's Mark and Elisia Saab Emerging Technologies and Innovation Center. Raytheon has committed $3 million with options to $5 million throughout the next 10 years to establish the facility. Initial research will focus on technologies for radar and communication systems.

Boston-based Phoodeez catering services has hired three new employees: Ian Danielson as director of business development, Brian Vicente as director of operations, and Tyler Smith as part of the business development team.

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Designer Regatta unit boasts luxury, views

This designer-created 20th-floor unit at the Regatta Riverview in East Cambridge has great views of the Zakim Bridge, the Charles River, NorthPoint Park, Charlestown and the Boston skyline.

The 436-unit two-tower Regatta was built on land across from the Museum of Science in 1998 as high-end apartments, and conversion to condos began in 2004. Unit 2003-2004 is actually two condos combined in 2007 as a contemporary-styled staged model by Mitchell Freedland Design. The 1,853-square-foot two-bedroom plus den is on the market for $1,549,000, which includes two deeded parking spaces­ in the complex's underground garage.

The unit opens into a light-colored marble foyer that leads to a smallish galley kitchen with Absolute black granite counters, light wood cabinets, a stainless steel Fisher Paykel refrigerator and a Bosch dishwasher, electric stovetop and oven with a matching microwave. An opening out to the living/dining space has a two-seat breakfast bar.

The open living/dining area features walnut floors and large windows on two sides with great views of the Zakim Bridge and NorthPoint Park. The living­ area has a wall-length media center built-in with a white marble-­encased gas fireplace. There's also a large dining area with a built-in wet bar featuring black lacquered cabinets, a stainless-steel sink and a wine cooler.

There's a half bath off one side of the living area that has light marble floors, bamboo wall covering, a black-marble topped vanity and a closet with a stacked washer/dryer.

Off the dining room is a small den, currently used as a home office, with glass doors out to a side balcony with views of Charlestown.

There are also sliding-glass doors out to the same balcony in the adjacent master suite, which has a carpeted bedroom with built-in glass shelving in recessed niches. A large walk-in closet has built-in wardrobe storage, and the en-suite bathroom has a marble-surround deep soaking tub and walk-in shower, a two-sink vanity and a closet with a second washer and dryer.

The second bedroom suite is off the foyer behind the kitchen and its big window offers great views of the Charles River and downtown Boston. There's a frosted-glass sliding door closet and an en-suite bathroom with black marble tile floors and tub/shower surround.

The condo fee includes heat and hot water and building amenities such as 24/7 concierge staff, a lap pool, gym, business center, clubroom and movie theater. The two deeded garage spaces include valet parking, and the unit also comes with two basement storage cages.

Home Showcase: 

• Address: 8 Museum Way, 
Unit 2003-2004, Regatta Riverview 
Residences, East Cambridge
• Bedrooms: Two, plus a den
• Bathrooms: Two full, one half
• List price: $1,549,000
• Square feet: 1,853
• Price per square foot: $836
• Annual taxes: $9,210
• Monthly condo fee: $1,398 (includes heat and hot water)
• Location: In East Cambridge across from the Museum of Science and a quarter mile from the Science Museum stop on the Green Line. About a half mile to CambridgeSide Galleria and Cambridge Street restaurants and retail.
• Built in: 1998; converted to condo 2007
• Broker: Nikki Dinari of Coldwell Banker Residential Brokerage at 617-620-261

Pros:

• Great views of Zakim Bridge, Charles River, NorthPoint Park, Charlestown and downtown Boston
• Contemporary interiors by Mitchell Freedland Design with living room, dining area, and master bedroom built-ins
• Two bedroom suites with en-suite marble bathrooms and two washers and dryers
• Comes with two deeded garage spaces, two basement storage cages

Cons:

• Galley kitchen on the small side

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Bowman: Microsoft CEO’s comments on awaiting raises thoughtless

Some men just don't get it.

Satya Nadella, the CEO of Microsoft, is one of them.

More than 8,000 people from all over the world traveled to Phoenix this week to attend a conference to celebrate women in technology and to hear Nadella speak on the topic, "Building the Career of Your Dreams."

When he was asked to give his advice to women who are uncomfortable requesting a raise, Nadella told them to "have faith that the system will actually give you the right raises as you go along." He also said "not asking for a raise was good karma that would help a boss realize the employee could be trusted and should have more responsibility."

Nadella's comments were obviously thoughtless and irresponsible, and they set off a predictable firestorm. And naturally he apologized.

But was Nadella really sorry? Would he have apologized had there not been all this hoopla?

I don't think so. I believe Nadella went into CYA mode and said sorry to save face.

As a woman in business who has worked, fought, lobbied and negotiated for every raise, promotion, advancement, praise, new title (often in lieu of more money) — and helped pave the way for my sisters — it was hard for me to read Nadella's words.

In light of Cheryl Sandberg and others who encourage women to "lean in," Nadella's advice was unworthy of a man and a technology leader, all the more so because he was addressing a historic conference for women.

"Smile and everything will be fine"… "believe in destiny and karma" — and we will all get our raises?

Sorry, karma doesn't cut it in the real world. If a woman is self-confident and projects a positive attitude, she will advance. But it's up to all of us, women and men, to manage our own careers. If you make it clear that you are team-oriented, adaptable, flexible, passionate and capable of building relationships, you will advance. That's the cornerstone of success in the business world.

Satya Nadella's faux pas has circled the world. He's apologized. We've been warned. Let's forgive him perhaps, but let this incident serve as a reminder — we expect more from our leaders.

Next time, Mr. Nadella, a gentle suggestion: prepare your remarks, don't wing them.

Judith Bowman is president of her own business protocol consulting company.

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State report asks business to close gender wage gap

Gov. Deval Patrick is challenging businesses to close the wage gap and recruit more women to senior positions as a task force yesterday released a report showing women still earn less than men in comparable positions.

The "Successful Women, Successful Families" task force, led by state Secretary for Labor and Workforce Development Rachel Kaprielian, outlined recommendations, including promoting science, math and technology careers to young women, and developing training programs to increase the number of women executives.

It also called for more family-friendly policies such as flexible work schedules.

"This is an ongoing, important issue, and will become an even greater issue over time," said Kaprielian. "To have the kind of talent we need to compete in a global economy, we need to have all our players dressed and ready to play."

The report found that women earn 77 cents for every dollar earned by men in the state, creating a $12.2 billion wage gap.

Patrick yesterday said that 14 businesses had agreed to take part in a corporate challenge and work with Bentley University's Center for Women and Business to close the wage gap and put more women in leadership roles.

"I appeal to other business leaders to participate in this program and help break down the barriers facing women in the workplace so we can even the playing field and ensure that Massachusetts strengthens its leadership position in our global economy," Suffolk Construction CEO John Fish said in a statement.

C.A. Webb, executive director of the New England Venture Capital Association and a task force member, said it's up to the private sector to address workplace inequality.

"The governor and his staff are only in office for a few months ... We have to see what efforts private entities can take on," Webb said. 'We can't just keep talking about this stuff."

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Artists for Humanity to be big draw

A South Boston nonprofit that pays Hub teens to work with professional artists and designers is planning a major expansion of its flagship facility that's a model for economical green building.

The Artists for Humanity EpiCenter would nearly quadruple in size under an approximately $25 million, 63,500-square-foot expansion that would create an "energy-positive" building.

"We'll create more energy than we'll use, using a lot of solar and geothermal and some wind and really illustrating some of the great and progressive technologies that are out there," executive and artistic director Susan Rodgerson said. "It's a big challenge, but I think we can do it."

There currently are no such buildings on the East Coast that are 50,000 square feet or larger, according to the organization.

The expansion would allow the 23-year-old Artists for Humanity — which counts itself as the largest single employer of Boston teens — to double the number of youths served. This year 250 teens are working with artists to create fine art, industrial design and provide digital graphic services.

"The need to create jobs for teens is really important," Rodgerson said. "And the fact that there will be this space in the Innovation District providing access to technology and maker space and innovation … is really important for the kids in the city who don't really have access to that kind of stuff."

The teens, who work on projects ranging from a video for National Grid to public art for State Street Corp., are paid wages plus commissions. Last year they received close to $1 million.

The expansion also would add a "maker's studio," new gallery, meeting and conference space, a retail store and a cafe in addition to 25,000 square feet of leasable space for creative industry tenants.

Artists for Humanity plans a capital campaign to raise funds for the expansion, which will take advantage of a 9,000-square-foot parking lot donated by Gillette last year. It already has received some funding commitments, which Rodgerson declined to divulge.

The group moved into the 23,500-square-foot EpiCenter, built at a cost of $7 million, in 2004.

The Platinum Leadership in Energy and Environmental Design (LEED)-certified facility has become a popular place for weddings and other events.

"It was built on a budget, and we've become a really popular place for folks to come and see sustainability at a value," Rodgerson said.

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Asian stocks sink after Wall Street plunge

BANGKOK — Asian stocks sank Friday after Wall Street suffered its worst day of the year and weak German trade data fueled worry Europe is sliding into recession.

KEEPING SCORE: Tokyo's Nikkei 225 index plunged 1.3 percent to 15,286.25 points and Hong Kong's Hang Seng lost 1.6 percent to 23,144.81. China's Shanghai Composite Index shed 0.6 percent to 2,375.28. Seoul fell 1.3 percent and Sydney and Singapore also declined.

WALL STREET: Volatility returned to U.S. markets as stocks had their worst day of the year just 24 hours after recording their best. Prices fell after members of the Federal Reserve board expressed concern about inflation, tempering suggestions in minutes of a recent Fed meeting released Wednesday that suggested interest rates would not be raised for now. The Dow Jones industrial average and Nasdaq composite both lost 2 percent and the broader Standard & Poor's 500 fell 2.1 percent.

EUROPE: Concerns Europe is headed for recession rose after Germany, the continent's biggest economy, reported its weakest year-on-year export growth in five years. The president of the European Central Bank, Mario Draghi, gave no indication of any further monetary stimulus, suggesting in a speech in Washington that governments need to do more on the fiscal side.

ANALYST'S TAKE: "Markets are markets are rather unimpressed with the state of global growth (EZ in the most unflattering state) and equally unimpressed with potential policy response," said Mizuho Bank in a report.

HONG KONG: The government called off talks with pro-democracy protesters, possibly extending demonstrations that have blocked streets for almost two weeks. The protesters want a bigger public voice in the selection of the territory's next leader in 2017. The impact on this Asian financial center's economy has been limited but analysts warn it could rise if protests erode its appeal to foreign companies and investors.

ENERGY: Benchmark U.S. crude plunged $2to $83.77 per barrel on concerns slowing global economic growth will reduce demand while production stays high. The contract lost $1.56 on Thursday to $85.77. Brent crude, used to price international oils, lost $2.08 to $88.29.

CURRENCY: The dollar declined to 107.78 yen from Thursday's 107.87. The euro held steady at $1.27.

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Boston Public Market gets fresh start

Chefs, fishermen, farmers and local specialty food producers yesterday joined public officials and benefactors to mark the start of construction of the Boston Public Market — the Hub's first indoor public food market since Quincy Market was built in 1825.

The year-round Boston Public Market, more than a decade in the making, is set to open next summer above the Haymarket MBTA station. It was hailed yesterday for its prospects of increasing city-dwellers' accessibility to fresh, local food and being a boon for New England vendors who'll supply it with fresh produce, meat and poultry, fish and shellfish, bakery and dairy products, flowers and prepared foods.

"Today is a milestone for this project," said market CEO Elizabeth Morningstar. "For many of us here, it's been 13 years of advocacy."

Organizers raised more than $15 million in public and private funds for the 28,000-square-foot market. And it's gaining national attention from the likes of the Conservation Fund and the U.S. Department of Agriculture as the first in the nation of its size to have a local focus and the potential to greatly affect farmers by generating increased consumer demand for their products, Morningstar said.

The market will have 40-plus permanent vendors, including Boston Smoked Fish, which operates as the Amazing Smokehouse. The Sudbury company makes small-batch, hot-smoked local fish, including bluefish pate and salmon fillets.

"The Boston Public Market is a game-changer for the city, but absolutely for businesses like ours in terms of exposure and business opportunity," said Chris Avery, who runs the company with Matt Baumann. "This is going to give us the financial support to build our new processing facility on the Fish Pier."

The market will be a "showcase" for the city, and allow people to meet vendors and learn more about the food supply system, Mayor Martin J. Walsh said. "It shouldn't have taken 13 years," he said. "Food is obviously a key to a healthy city as well."

The Trustees of Reservations, a nonprofit conservation group, will handle programming such as educational workshops for the market, which will have a 3,000-square-foot demonstration kitchen.

Gov. Deval Patrick asked Boston Public Market supporters to "remember it's for everybody."

"Make it a place where everybody feels welcomed and encouraged," he said. "I'm a foodie, so I look forward to using (it)."

The market will accept SNAP/EBT and WIC benefits from low-income customers and give them incentives to buy fresh fruit and vegetables. It also will offer nutrition classes and information on how to shop on a budget.

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Taxi interests, Uber rep clash at meeting

A group of transportation leaders met for the first time yesterday to start hashing out the differences between ride-sharing services, such as Uber, and taxis, and try to come up with new guidelines, but much of the session was dominated by finger-pointing.

"We are pitted against each other by nature," said James Endicott, representing large medallion owners.

"This is an illegal, unlicensed industry," said Donna Blythe-Shaw, representing the taxi drivers union, of Uber and other ride-sharing companies. "You want to play ball here in the city, you need to play the same way."

Meghan Joyce, general manager of Uber Boston, called for an end to hyperbole.

"I implore all of you that when we have this conversation, it is rooted in facts, in data," Joyce said.

Mayor Martin J. Walsh put together the Taxi Advisory Committee and charged it with overhauling the city's for-hire transportation regulations.

"The issues that exist in the industry today are significant," said Christopher English, chairman of the commission and part of the mayor's office of intergovernmental relations. "We have a lot to do, and we don't have a defined timeline when we want to get it done, because we want to have a comprehensive approach."

English said the regulations will center on equity for drivers and companies, access to transportation options for riders and drivers, and safety.

"This is something that's very important to us, very important to the future of the city," said Daniel Koh, Walsh's chief of staff. "Every single city in the country is thinking about how to move forward with these issues."

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HubSpot’s shares soar on first trading day

Shares of Cambridge-based software company HubSpot shot up on their first day of trading yesterday, marking the third successful initial public offering for a Boston tech company in the past three weeks.

HubSpot shares closed up 20 percent, valuing the company at nearly 
$914 million. HubSpot raised $125 million.

"We don't really see it as the finish line, we see it as a start line," said Dharmesh Shah, HubSpot co-founder and chief technology officer. "We're thinking ahead now to continue to grow our business."

HubSpot, which makes software for marketers and salespeople, has been one of the fastest growing companies in the area.

It's the second largest Boston tech IPO in the past week after online home goods retailer Wayfair, which went public Oct. 2 and raised more than 
$300 million.

Neeraj Agrawal, a partner at venture capital firm Battery Ventures in Boston, said the HubSpot IPO and recent successful public offerings from Wayfair and other companies will have a ripple effect for the Boston tech community.

"Two, three years from now you should see a wave of startups created by some folks who might cash out over time," Agrawal said. "There's a virtual cycle between successful companies, IPOs and new startups."

Chief operating officer J.D. Sherman said HubSpot wants to become a major global tech company.

"Our goal is to not only be an IPO, but be a real tech business, make a dent in the tech business and do it from Boston," he said.

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The Ticker

Dow down 334 points, its worst day of 2014

Just one day after the market had its best day of 2014, it had its worst day of 2014.

The Dow Jones industrial average plunged 334 points yesterday as a decline in energy stocks and worries about the global economy sent investors fleeing out of the market. It was the biggest point drop since June 2013.

It was also the third straight day investors have been taken on a wild roller coaster ride. On Tuesday, the Dow fell 272 points, only to jump 275 points on Wednesday.

By the end of the day yesterday, the Dow had lost 334.97 points, or 2 percent, to 16,659.25. The Standard & Poor's 500 index lost 40.68 points, or 2.1 percent, to 1,928.21 and the Nasdaq composite fell 90.25 points, or 2 percent, to 4,378.34.

Worries about the global economy, particularly in Europe and Asia, were again center stage.

Providence Phoenix closing down

The Providence Phoenix, a 36-year-old alternative news and entertainment weekly, is ceasing publication next week.

Stephen Mindich, the Phoenix Media/Communications Group's owner and publisher, announced yesterday the last issue will be distributed Oct. 16.

Chief Operating Officer Everett Finkelstein said shrinking print advertising revenue and increasing production costs led to the decision.

The paper had survived for more than a year after the closing of the Boston Phoenix, the group's flagship publication. According to its website, the publication began as NewPaper and was acquired by the Phoenix in 1988. The group also publishes the Portland Phoenix in Maine.

Developers propose 94 housing units on East Boston property

Two local developers, Michael Merullo and Joseph Ricupero, who own Revere-based EZ Disposal and Recycling, have filed notice with the city to build a 126,000-square-foot mixed use project at 135 Bremen St. in East Boston, which would have 94 residential units, 7,700 square feet of commercial space and 126 parking spots.

Amazon to open first physical store

Online retailer Amazon.com Inc. plans to open its first physical store in midtown Manhattan, the Wall Street Journal reported, citing people familiar with the matter.

The store will be located at 7 West 34th St., across from the Empire State Building, the Journal reported. The store, expected to open in time for holiday shopping, would function as a mini warehouse with limited inventory allowing for same day delivery within New York City, product returns, exchanges and pickup of online orders, according to the report.

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McGladrey LLP, a provider of assurance, tax and consulting services focused on the middle market, with 550 employees in Boston, recently announced the promotion of 39 employees to partner and principal roles. Three of those employees are based in the firm's Boston office: Chris Goguen, principal, Chris Ladue, partner, and Greg Natalucci, partner.

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