Boston Scientific, among others, making moves

Major employers in MetroWest played another round of musical chairs yesterday as Boston Scientific made plans to move its headquarters to Marlboro and leave its Natick campus behind for software maker MathWorks.

Starting next spring, the medical device giant will shift about 800 jobs to the three-building Marlboro campus it bought in 2004 while in expansion mode.

"Consolidating our ... facilities is expected to foster greater collaboration and efficiency, benefitting our employees, our customers and, ultimately, the patients they treat," said new CEO Mike Mahoney.

Meanwhile, MathWorks is finalizing a deal to buy Boston Scientific's campus even as it finishes constructing a fourth building at its own bustling base a mile away on Route 9 where it employs 1,800.

"MathWorks is fortunate to be in a growth mode, and is pleased at the prospect of expanding into such a renowned property ... situated so close to our current campus," said Jeanne O'Keefe, MathWorks' finance chief.

Boston Scientific has occupied its three-building campus between the Natick Mall and Lake Cochituate since 1995. The site was previously home to Prime Computer in the 1980s and Carling's Brewery in the '70s.

The moves represent a win-win situation for Marlboro and Natick, suburbs known for their major corporations and job centers, according to Garry Holmes, a top MetroWest broker working for MathWorks.

"When the timing hits and you need some expansion space, there's only so many places they can make these big numbers work," said Holmes, president of R.W. Holmes Realty in Wayland. "I think it's a real positive and good to see these companies take advantage of the opportunities."

Marlboro's office vacancy rate spiked to 32 percent, the worst in Massachusetts, amid a corporate exodus that ended when retailer TJX said it would buy a campus Fidelity Investments was dumping for out-of-state digs, and Quest Diagnostics said it would fill an old Hewlett-Packard site with 1,200 workers.

"Companies continue to view Marlboro as an optimal location for their operations," said Tim Cummings, head of the city's economic development agency.

TJX subsequently purchased its longtime headquarters on the Natick-Framingham line. The operator of T.J. Maxx and Marshalls expects to eventually employ 1,600 at each campus.

The MathWorks growth will help make up for Natick losing longtime tenant BJ's Wholesale Club to Westboro. BJ's filled a former National Grid space.

Westboro is where the music started playing five years ago, when Framingham-based Bose expanded into an office complex abandoned by Hopkinton-based tech giant EMC.

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Massachusetts high-end housing market holds steady

The number of homes selling for $1 million and over in Massachusetts was 1,915 during the past year, almost unchanged from the 1,913 homes that sold for $1 million and over the year before. Here's a look at five properties that sold recently in the Bay State for a cool $1 million:

At 82 Middle St. in Newburyport, an award-winning restoration of The Ebenezer Dole House has resulted in an artful blend of historic ambiance and modern amenities. The 1810 Federal period home is located steps from downtown and includes a designer kitchen with granite counters, a Wolf range, Sub Zero fridge, walk-in fireplace and an office area.

Listing broker Margaret Cargill of RE/MAX on the River said, "Buyers are seeking renovations that feature an open floor plan including a family room, open kitchen and dining area as well as a full master suite."

The 2,900-square-foot, four-bedroom home includes a master suite with a 25-foot Carrara marble spa bath, soaking tub and walk-in closet.

This architect-designed, 3,869-square-foot home is located at 280 Great Meadows Road in Concord. The house sits on 4.7 acres overlooking Borden's Pond and has over 600 feet of pond frontage. Sold by listing agent Wade Staniar of Landvest, the property is configured as two separate units with kitchens on the first and second floors.

Carved out of a handsome stone church, Unit 4 at 444 Mount Auburn St. in Waltham is a three-bedroom, 3,850-square-foot condo that has its own four-story bell tower with views into Boston.

Listing agent Gail Roberts of Coldwell Banker Residential Brokerage, who sold the property, said, "It was so unique and dramatic in that it offered buyers multiple uses for the space."

The living room boasts a 30-foot ceiling plus a fireplace and the eat-in-kitchen has granite counters, stainless-steel appliances as well as an island. Other details include interior stone arches, arched windows and a 22-foot cathedral ceiling in the master suite.

The sellers of 55 Alexander Ave. in Belmont made careful and informed choices as they reconfigured the layout and renovated extensively with high quality materials, said listing broker Susan Murie of ePlace Real Estate.

The 2,056-square-foot, single-family home includes an eat-in kitchen, custom cabinets, as well as a marble fireplace and surround sound. New plumbing, electric, windows and a roof were added in 2005.

"When finishing the new addition, the sellers sourced slate tiles from Vermont to match the existing roof tiles of the original part of the building. Smart renovation decisions made while preserving the unique charm inspired multiple offers on the home that was originally listed for $940,000," Murie said.

Elizabeth Bone of Macdonald & Wood Sotheby's International Realty, who listed 670 Washington St. in Duxbury, said, "This home is a waterfront paradise, where you can moor your boat close by, paddle your kayak or swim in the Blue River."

The six-bedroom, 5,300-square-foot home has water views on two sides and was originally established as the First Bank of Duxbury in 1833.

Completely restored, the home has three levels, four-and-a-half baths and six fireplaces.

Jennifer Athas is a licensed real estate broker and can be reached by email at heraldhotproperty@gmail.com. Follow her on Twitter @JenAthas.

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Students, mentors invest in StoxSmart

The Herald's StoxSmart program is back as a new class of budding student entrepreneurs learn the money management and financial skills necessary to tackle the unpredictable stock market.

Suffolk Construction CEO John Fish returns for a second year, this time to mentor two Madison Park Technical Vocational High School students.

The program's second installment also welcomes a new mentor, Dr. Ralph de la Torre, chairman and CEO of Steward Health Care System, who will team up with TechBoston Academy students Edson Brito and Ephraim Norman.

StoxSmart mentors, who include Herald business editor Frank Quaratiello and Cabot Money Management President Rob Lutts, work with their student partners to come up with the best way to invest $1 million in the stock market.

The contest officially kicks off Jan. 1 and runs through the first quarter. The Herald will keep tabs on the competition every Monday in the BizSmart section and with a blog at bostonherald.com.

"The idea here is to learn as much as you can and have some fun doing it," Herald publisher Patrick Purcell told students yesterday.

"Really try to make the most of the experience, because it's a unique one," added Editor-in-Chief Joe Sciacca.

Fish and de la Torre have agreed to provide complimentary iPads to the students and to work with other Hub business leaders to create summer internships.

"It's a fabulous time to get involved and ask a lot of questions and challenge yourself to ask those questions," Fish said.

Brito, a 17-year-old senior, agreed: "I want this to be a huge learning experience for me."

De la Torre said StoxSmart would establish "a framework to learn about business stocks as well as expand horizons."

"We're going to talk about the market and think about opportunities that are America- and world-driven," he said.

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US futures off before Obama addresses fiscal cliff

NEW YORK — U.S. stock futures fell sharply Friday in some of the heaviest trading this week before President Barack Obama speaks about avoiding the so-called fiscal cliff, an issue that has driven markets lower since his re-election three days ago.

Dow Jones industrial futures slid 102 points to 12,673. The broader S&P futures gave up 11.2 points to 1,364.10. Nasdaq futures fell 14.75 points to 2,575.

What Obama says Friday from the White House will likely give markets a better idea of the path ahead in a showdown with Republicans, and the odds of avoiding the one-two punch of tax increases and automatic spending cuts that come due in January.

On the corporate front, J.C. Penney shocked investors again with a loss of $123 million for the quarter. Like the previous quarter, it is much worse than was expected.

Much of the turnaround push at J.C. Penney has been focused on modernizing tired and deteriorating stores. However, even online sales were terrible.

At a time when some retailers are seeing online sales double, sales through jcp.com plunged 37.3 percent from the same period last year.

It marked the third consecutive quarter of overall losses and plunging sales as well.

J.C. Penney shares fell 6 percent before the market opened.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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MoneyGram agrees to settle scam charges

DALLAS — MoneyGram said Friday that it has agreed to set up a $100 million compensation fund as part of a settlement of government allegations of fraud through money-transfer scams from 2003 to 2009.

Under the terms of the deal with the U.S. Attorney's Office for the Middle District of Pennsylvania and the Department of Justice, MoneyGram International Inc. said it has also taken other steps to prevent more scams. These include adding more investigators and beefing up technology to detect fraud.

The payment services provider said it has terminated relationships with the agents suspected of masterminding the fraud. It said it has also overhauled its corporate compliance program and began a new training program for agents to better sniff out and report scams.

The company previously set aside the money to compensate victims.

"The conduct described in the (settlement agreement) is unacceptable to MoneyGram and counter to everything we strive to stand for," said Pamela H. Patsley, chairman and chief executive officer, in a statement. "We take compliance very seriously at MoneyGram, and nothing angers us more than when our services are used to perpetrate illegal activity."

The Dallas-based company also said Friday that it lost $54.1 million, or 77 cents per share, in its third quarter due to costs related to the fraud settlement and related legal expenses. It had net income of $15.8 million, or 22 cents per share, a year ago.

Its revenue rose 5 percent to $338.6 million from $322 million a year ago.

It now expects full-year earnings to come in at the low end of its previous expectations.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Chrysler to recall 919,000 SUVs to fix air bags

DETROIT — Chrysler is recalling more than 919,000 older-model Jeep Grand Cherokee and Liberty SUVs worldwide because the air bags can inflate while people are driving them.

The recall affects Grand Cherokees from the 2002 through 2004 model years and Libertys from model years 2002 and 2003, according to documents posted Friday on the U.S. National Highway Traffic Safety Administration website.

The safety agency said that a part can fail in the air bag control computer, and the front and side air bags can inflate while the SUVs are being driven. An agency investigation started last year found that the air bags went off 215 times, causing 81 minor injuries. No crashes were reported, but NHTSA said the problem could cause a wreck.

Chrysler, which makes Jeeps, will install an electrical filter free of charge to fix the problem. The company will begin notifying owners of the recall in January.

The recall includes nearly 775,000 SUVs in the U.S., 49,000 in Canada and 22,000 in Mexico. The rest are outside North America.

Dashboard warning lights normally come on before the air bags are inflated, Chrysler spokesman Eric Mayne said. If that happens, the driver should contact a Jeep dealer.

The problem happens in less than three-hundredths of a percent of the vehicles on the road, Mayne said.

NHTSA began investigating the air bags in October of last year after getting complaints about air bags inflating for no reason in Jeep Libertys. Investigators traced the cause to electrical stress on one of two circuits in the control computer. The problem also causes the seat belts to tighten as if a collision were about to happen.

The Grand Cherokees covered by the recall were built from Aug. 1, 2001 to May 16, 2003, while the Libertys were built from June 6, 2001 to March 19, 2003.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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'NBA 2K13' tops video games titles in October

NEW YORK — U.S. retail sales of new video game hardware, software and accessories fell 25 percent in October, marking the 11th straight month of declining sales for physical game products, according to a report from NPD Group.

Many gamers are waiting for big holiday releases such as Activision's "Call of Duty: Black Ops II."

NPD said sales fell to $755.5 million from $1 billion a year earlier. Sales of video games themselves, excluding PC titles, fell 25 percent to $432.6 million. Sales of hardware such as Microsoft's Xbox 360 fell 37 percent to $187.3 million. Sales of accessories, meanwhile, grew 5 percent to $135.6 million.

Thursday's study from NPD Group tracks sales of new physical products — about 50 percent of the total spending. Excluded are sales of used games and rentals as well as digital and social-network spending.

NPD also listed the top-selling games in October:

1. "NBA 2K13," Take-Two Interactive Software Inc.

2. "Resident Evil 6," Capcom USA

3. "Pokemon Black Version 2," Nintendo Co.

4. "Dishonored," Bethesda Softworks

5. "Pokemon White Version 2," Nintendo Co.

6. "Madden NFL 13," Electronic Arts Inc.

7. "FIFA Soccer 13," Electronic Arts Inc.

8. "Medal of Honor: Warfighter," Electronic Arts Inc.

9. "Borderlands 2," Take-Two Interactive Software Inc.

10. "Skylander Giants," Activision Blizzard Inc.

© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Brandon Lloyd's leap

By now, word has gotten out about Brandon Lloyd's daring jump over a car that was traveling 35 miles per hour as part of a challenge by Mobile Technology's company MobiSquad.

For those who were more than a little concerned the Patriots [team stats] wide receiver was unnecessarily risking his health and jeopardizing his status with the AFC-East division-leading club, fear not.

The video of Lloyd's amazing leap, which was shot in Arizona during the offseason and is expected to be released early today, isn't quite what it seems.

Lloyd, in fact, yesterday admitted there were some "camera tricks" involved, and he would never put himself in harm's way with his career on the line. He understands how it might seem, but cautions not to get too caught up in the danger element.

''It's more so about the product than the actual act,'' Lloyd said. "As an athlete, when you do something like that, and it seems like there's a lot of danger involved, and there's a lot of controversy, it raises the awareness. The product is a mobile payment device for small businesses.

''I think that's more (the message) than the danger involved,'' he went on. ''Obviously, I'm not going to do anything to jeopardize my career ... so we can say I jumped a car for small business.''

Lloyd said if the personal risk was too great, he wouldn't have been involved. As for signing off with Patriots coach Bill Belichick, the wideout, who has 37 catches for 435 yards with three touchdowns, indicated he hadn't since it was filmed in the summer.

Also, to try and prevent people at home from trying to repeat the feat, Lloyd indicated there is "a large disclaimer" before the video warning this challenge is not advised.

LA Laker Kobe Bryant performed a similar stunt.

So why was Lloyd chosen to leap over MobiSquad's signature purple Smart Car?

He still holds his high school's record in the high jump at 7 feet, 2 inches, and wasn't too bad in the long jump and high hurdles.

Said Lloyd: ''It was amazing.''

The Pats receiver indicated he became involved through friend Nate Reis, the CEO of MobiSquad.

''He's been a friend of mine for three years,'' Lloyd said. ''He thought it would be a good idea to see if we could do a partnership. So we were just tossing around some ideas.

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HapYak raises $850G in VC funding

HapYak.com, a Waltham-based social video commentary platform, said today it has secured $850,000 in seed funding to expand and build upon its platform.

The funding round was led by Kepha Partners with participation and coordination from CommonAngels of Boston and angel investor Tom Burgess, former CEO of Third Screen Media.

HapYak invites users to create drawings, record narration and add comments directly to any video from YouTube, Vimeo and other popular services. Platform users have already created hundreds of video commentary experiences that range from video game walkthroughs to vegan cooking to the presidential election, HapYak said.

"Video on the web is changing fast and users are demanding richer and more interactive experiences. By making it possible for different people to contribute to each other's videos, HapYak is creating a whole new type of valuable user-generated content that's great for viewers and great for publishers who need to engage them," said founder Kyle Morton.

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Free Coffee Fridays return to Cumberland Farms

Cumberland Farms is looking to perk up customers with the return of Free Coffee Fridays.

Starting today, the convenience and gasoline retailer is giving away cups of its Cumberland Farms Farmhouse Blend coffee — any way you like it, in any size — for free every Friday this month.

"We're so convinced that you will love our coffee that we're giving it away. Satisfying your coffee craving with a cup (or three) shouldn't break the bank, or disappoint your taste buds," the chain said in a statement. "That's why Cumberland Farms created Farmhouse Blend — freshly brewed, surprisingly delicious and competitively priced at 99 cents any size, any day of the week; it will wow your taste buds and your wallet."

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