Aerosmith drummer’s coffee rolls into local stores

Fans of Aerosmith and fans of java unite! Beginning next month, you'll be able to indulge your taste for both when drummer Joey Kramer's organic brew hits store shelves.

Rockin' & Roastin' coffee will be available in 100 locations throughout New England, including Big Y's 59 stores in Massachusetts and Connecticut.

"I'm a coffee addict forever," Kramer told the Herald. "This is not just another celebrity putting his name on a product. I'm hands on. I'm working really hard on it. There's no reason people should be gouged."

For $7.99, you can take your pick from his trio of small-batch brews: two dark roasts from Sumatra and Ethiopia and one dark-medium roast from Guatemala.

All three previously were available only online. But in May, Kramer announced his partnership with Comfort Foods of North Andover, which now roasts, packages and distributes them.

Currently, the coffee is available in both whole bean and ground forms, and soon Kramer will unveil a single-serving option.

Java lovers need feel no guilt for indulging their addiction. Through June 2014, he'll donate a portion of his coffee sales to auto-dealership magnate Ernie Boch Jr.'s nonprofit, Music Drives Us, which offers grants for music programs for people in need.

In addition to Big Y, Rockin' & Roastin' coffee will also be available at five other grocers: Roche Bros., Trucchi's Supermarkets, Dave's Fresh Marketplace in Rhode Island; Durham Marketplace in New Hampshire; and Geissler's Supermarket in Connecticut.

Next stop for Kramer's coffee: Texas, where he owns a home, although no date has been set.

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Study: Consolidate state’s 105 pension systems

Consolidating the administration of the state's 105 public employee retirement systems would save nearly $25 million annually in employment costs and stipends that could be used to pay off unfunded pension liability, according to a new study.

The Pioneer Institute, a Boston think tank, estimates that consolidation could save up to $22.5 million in annual labor costs and another $2.3 million in retirement board member stipends. Each local retirement system is overseen by a board, each of whose five members receives a $4,500 annual stipend, plus travel and other expenses.

"We have so many retirement systems it's very hard to know whether they're doing the right thing," said Iliya Atanasov, Pioneer's senior fellow on finance and one of the study's authors. "If we consolidated that system, we would be able to have substantial savings and have much more transparency about what is going on with pension assets because it would be clear where the responsibility lies and what's happening with those dollars."

Atanasov and co-
author Casey Miles found that the median local board had 524 beneficiaries for every board member, but one of the least staffed boards — Middlesex County — was almost four times as efficient. Only the state employees' system had a lower staffing level, with 2,597 beneficiaries per employee compared with Middlesex's 1,968.
 The largest local system, Boston, has 2 1⁄2 times as many beneficiaries as the Middlesex system but employs almost six times as many staff.

Daniel J. Greene, executive officer of the Boston Retirement Board, could not be reached for comment.

Jon Carlisle, a spokesman for state Treasurer Steven Grossman, who oversees the state retirement board, said the treasury strongly supports cost-saving initiatives but cannot compel independent retirement boards to merge into the state system.

"Instead, the Pension Reserves Investment Management Board, the investment arm of the state retirement system, has encouraged local boards to invest their holdings with it and has attracted those investments through strong performance and outstanding customer service," Carlisle said. 
"The management fees that an independent board can save through this arrangement are substantial."

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Stakes raised at Belmont Estate

When it comes to satellite communities, Belmont is in its own orbit.

It's a place where professionals retreat and families thrive — all within sight of the city skyline.

Belmont Estate Homes is the latest project from renowned builder Cindy Stumpo of C. Stumpo Development. A fixture in the high-end construction business, you might also know her from her HGTV and FoxLife Series "Tough as Nails."

Originally a private estate, the property now includes four spectacular residences, three of which are built from the ground up.

They will all include five bedrooms, four full-bathrooms and two half-bathrooms, with anywhere from over 5,000 square feet of living space to upwards of 8,000 square feet, depending on the level of finish work a buyer chooses to include.

The basement and third floor can be customized according to the owner's specifications. Additionally, the homes will feature marble and hardwood floors, custom-built cabinets, granite countertops, state-of-the-art appliances from Sub-
Zero, Bosch and others, abundant outdoor space, mature landscaping complete with full irrigation systems and magnificent views of the Boston skyline.

Care to have the latest "Smart Home Technology"? Not a problem. Belmont Estate Homes already contain distributed pre-wiring for audio, television, Internet, outdoor cameras, touch panel and security. All of this may be controlled from a remote, mobile device, allowing you to alter temperature, check the cameras and so much more.

Ranging in price from $3,135,000 to $3,950,000, the homes will "work well in the Belmont environment as they are all beautifully elegant" says Stumpo. She goes on to say that "the homes are both stunning yet simplistic, following very classic lines and details."

Two of the three new structures are nearing completion with an early fall, 2013 target date.

These homes are being marketed exclusively by Michael Carucci of Group Boston Real Estate, LLC who can be reached at Michael@Bostonrealestate.net.

For more information on this project visit Bel-
montestatehomes.com.

Charlie Abrahams is a licensed real estate agent in Boston who works with buyers and sellers and 
can be reached for any 
additional information 
at: Bostonrealestate@
charlieabrahams.com

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The Ticker

Initial jobless claims up

Initial jobless claims rose by 7,000 last week, according to the Labor Department, but the overall trend points to an improving job market.

New jobless claims rose to 343,000 last week after dropping by 22,000 the week before. The four-week average, which is seen as a less volatile number, fell by 1,250 to 345,250.

New unemployment applications indicate layoffs in the country.

More than 4.8 million Americans received unemployment benefits in the week that ended July 6, down nearly 20 percent from a year before. July unemployment numbers will be released on Aug. 2.

Starbucks profit rises on U.S. sales

Starbucks Corp. yesterday posted a bigger than expected jump in quarterly profit after new "Refresher" fruit beverages and seasonal Frappuccino iced drinks helped drive more visits to its shops in the United States, its top market. The world's biggest coffee chain also raised its full-year profit forecast, sending shares soaring almost 6 percent in after-hours trading.

Amazon reports $7 million loss

Amazon reported a loss of $7 million for the second quarter, or 2 cents per share for the three months through June.

Wall Street analysts had expected Amazon to earn 
5 cents per share in the second quarter.

The company reported sales of $15.7 billion, a 
22 percent increase from the same quarter last year. The growth in sales was just shy of analysts' expectations of $15.73 billion. Amazon shares dropped by almost 2 percent in after hours trading.

GM sales increase 3.9 percent

General Motors second-quarter sales rose 3.9 percent, signaling the largest U.S. automaker is poised for growth with one of the biggest waves of new models in its history.

While net income dropped on falling profit from the unit that includes India and southeast Asia, earnings excluding some items beat analysts' estimates. Revenue rose to $39.1 billion from $37.6 billion.

TODAY

• Samsung Electronics reports quarterly financial results.

THE SHUFFLE

• Seven Step RPO announced that Jason Berkowitz, above, has joined the company as vice president of client services. Berkowitz will maintain strategic client relationships, while further developing Seven Step's high-performing strategic directors and delivery teams across its Boston and Denver offices.
• Newton-Wellesley Hospital's board of trustees voted to approve the search committee's recommendation to name Kerry Watson as the next president of Newton-Wellesley Hospital. Watson will join Newton-Wellesley from the Duke University Health System in Durham, N.C., where he has been president of Duke Regional Hospital.

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USO not sweet on NECCO

A Revere candy maker's 2009 "salute to the troops" partnership with the USO has turned sour.

The nonprofit United Service Organizations Inc., which supports American troops and their families, is suing New England Confectionery Co. for alleged trademark infringement and false advertising.

NECCO continued to market its "Red, White & You Sweethearts" candies featuring sentiments such as "Proud of U," "USO" and "Home Safe" long after its sponsorship deal with the USO ended — and without compensating the USO, according to a lawsuit filed Tuesday in U.S. District Court in Boston.

The USO yesterday declined comment on the ongoing litigation and 
NECCO did not return calls from the Herald.

Under a one-year agreement in 2009, the USO signed NECCO as exclusive confections sponsor of its Operation USO Care Package program for May through September of that year. The deal allowed NECCO to use the USO trademarks and logo to market its specially themed red, white and blue Sweethearts in return for a $75,000 donation. The Sweethearts were included in USO care packages sent to American military troops, and NECCO sold them online and in stores in packaging that promoted the program.

But NECCO continued to sell the USO-branded candies and tout a USO partnership from May 2010 through February 2011, even though both sides failed to negotiate a new contract for that period, according to court documents.

"…Without the consent or authorization of USO, NECCO unilaterally produced and packaged candy displaying USO trademarks and logos, and commenced a marketing campaign using USO's trademarks and logos for candies identified as "Red White & You Sweethearts," court documents state.

And despite repeated demands from the USO, NECCO "failed and refused to pay" the additional $75,000 donation referenced in its marketing campaign and product packaging, the court documents allege.

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Greece's rescue creditors clear new batch of loans

BERLIN — Greece's international creditors have cleared a 2.5 billion-euro ($3.3 billion) installment of bailout loans following the approval of new austerity measures by authorities in Athens.

European Commission spokesman Simon O'Connor said the decision was made by deputy finance ministers of the 17-country eurozone on Friday, pending some national approval procedures to be concluded Monday.

He added that Greece will also get a 1.5 billion-euro payout stemming from profits on bonds bought by the European Central Bank under a now-defunct bond-buying program.

Greece has approved new debt reduction measures, including thousands of public-sector job cuts, to meet the conditions that are part of its 240 billion-euro rescue package from its EU partners and the International Monetary Fund.

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Japan's All Nippon finds damaged 787 beacons

TOKYO — Japan's All Nippon Airways has found damage to wiring on two Boeing 787 locator beacons, a device suspected as the cause of a fire on an Ethiopian Airlines 787.

ANA spokesman Ryosei Nomura said Friday that Boeing Co., the U.S. Federal Aviation Administration and Japanese regulators had ordered checks of the beacons.

ANA has 20 of the jets dubbed the Dreamliner.

The transmitters, made by Honeywell International Inc., guide rescuers to aircraft in emergencies. They may be behind the Ethiopian Airlines fire that occurred July 12 at London's Heathrow Airport.

Dreamliner jets were grounded worldwide in January because of a separate set of problems with lithium ion batteries that caused overheating and fires.

Flights resumed four months later after the battery system was revamped.

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Vivendi sells Activision stake for $8.2 billion

PARIS — Vivendi SA is selling most of its majority stake in video game maker Activision Blizzard Inc. for $8.2 billion as the French conglomerate tries to strengthen its balance sheet.

In a statement Friday, Vivendi said that 429 million of its shares will be sold to Activision itself, which makes such games as "World of Warcraft." Another 172 million shares will be sold to a consortium of key investors including Activision's CEO Bobby Kotick and Co-chairman Brian Kelly.

With the sale, at $13.60 per share, Vivendi will reduce its holdings from 61.1 percent of Activision's common shares to 12 percent. The French company will continue to hold 83 million Activision shares after the sale, expected to close in September.

Vivendi has held a majority stake in Santa Monica, California-based Activision since 2008.

Vivendi , whose shares were up 1.35 percent to 16.20 euros in trading in Paris after the announcement, said in the statement that the sale "provides the group with greater financial flexibility and creates value for our shareholders."

Part of the cash will be used to strengthen the balance sheet and maintain its credit rating. Vivendi has been trying to restructure and sell off some businesses in its diverse conglomerate, and announced earlier this week that it's in talks to sell its stake in Maroc Telecom.

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Apple's smartphone market share slips

Apple's share of the global smartphone market fell during the second quarter to its lowest level in four years, according to data released Friday.

Apple took 13.1 percent of the worldwide market, according to ABI Research, down from 16.6 percent a year ago. That's the lowest level since the third quarter of 2009, two years after the launch of the first iPhone.

Apple Inc., based in Cupertino, Calif., sold 31.2 million iPhones in the April-to-June period, up from 26 million in the same period a year ago, the report said. But the company's sales growth isn't keeping pace with the overall smartphone market, which grew 52 percent from last year.

The No. 3 and No. 4 smartphone makers, LG Electronics of Korea and Lenovo Corp. of China, doubled their sales in the quarter, according to ABI research.

Samsung, the world's largest maker of smartphones, also saw a drop in market share.

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PepsiCo to no longer call Naked juices 'natural'

NEW YORK — PepsiCo Inc. says it will no longer label its Naked juices as being "all natural," after a lawsuit complained that the drinks contain ingredients that don't fit that bill.

The company, based in Purchase, N.Y., is also paying $9 million to settle the lawsuit.

In an emailed statement, the company said it uses "an added boost of vitamins" in some of the drinks. But a lawsuit filed against the company noted that the vitamins are actually synthetic ingredients, including a fiber made by Archer Daniels Midland.

PepsiCo did not respond when asked whether those synthetic fibers are in fact included in the juices. The company's statement said it will drop the use of the word "natural" until there is more regulatory guidance around the world.

The case highlights the confusion around the use of the word "natural" in in the industry. The Food and Drug Administration doesn't currently have a definition for what constitutes a natural product. But it says that it doesn't object to the term's use if the food doesn't have "added color, artificial flavors or synthetic substances."

Notably, the FDA says it's difficult to define a food product that is natural, since it has likely been processed and is no longer a "product of the earth."

Michele Simon, a public health lawyer and critic of food industry marketing practices, noted that there are numerous cases making their way through the legal system because of food companies' use of the word natural. She said the PepsiCo case was notable because the company was in essence addressing the murkiness of the word with the settlement.

"This company is basically surrendering the use of the offensive, deceptive marketing term," Simon said.

The lawsuit against PepsiCo noted that the company cultivates a "healthy and socially conscious image" to boost sales of the drinks, which typically cost around $4 a bottle. It noted that PepsiCo knew its target market would be willing to pay more for natural drinks that are 100% juice and free of genetically modified organisms.

The lawsuit also claimed that PepsiCo used genetically modified organisms in its Naked juices. In its statement, the company denied that claim and said its drinks will continue to be labeled "non-GMO." It said it plans to enlist a third-party to confirm the non-GMO status of the juices.

PepsiCo did not say when it planned to make the labeling changes in line with the settlement, reached earlier this month. On Friday, the website for Naked Juices still showed bottles with the words "all natural" on them.

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