Massport OKs Logan garage space funds
The Massachusetts Port Authority board yesterday approved a partial project budget of $20 million to fund work on adding up to 2,050 parking spaces at Logan International Airport.
Massport will start construction later this year on additions to the central and Terminal B garages that will cost an estimated $60 million. The added spaces will be completed in 2015 and 2016.
Hundred subpoenas issued in R.I. probe that includes 38 Studios loan
A lawyer for former Rhode Island House Speaker Gordon Fox told a judge yesterday more than 100 grand jury subpoenas have been issued in what he believes is a wide-ranging investigation by federal and state authorities that includes looking at the failed 38 Studios deal.
The attorney made the comments before Superior Court Judge Michael Silverstein as he sought to quash a subpoena issued to Fox for a range of documents related to ex-Red Sox pitcher Curt Schilling's now-bankrupt company. Silverstein is overseeing a lawsuit brought by the state's economic development agency over the $75 million loan guarantee it gave 38 Studios.
Bay State jobless rate drops, but so does the number of jobs
The state unemployment rate fell to 6 percent yesterday, but the state lost jobs for the first time since January.
"It's a bit of a mixed picture," said Alan Clayton Matthews, a professor at Northeastern University.
The state lost 1,600 jobs, and saw the largest drop in the leisure and hospitality sector. Clayton Matthews said that sector can be volatile, and may not reflect the economy's true direction.
"The payroll survey was very weak this month, but it's not indicative of a weakening trend in the economy," he said.
Today
Commerce Department releases housing starts for April.
THE SHUFFLE
Agios Pharmaceuticals Inc., a leader in the fields of cancer metabolism and inborn errors of metabolism, announced the appointment of Chris Bowden, M.D.to the newly created position of chief medical officer. He will oversee global clinical development and regulatory initiatives. Bowden, who brings more than 17 years of experience in clinical drug development, including the approval of several cancer medicines, was previously vice president, product development oncology, franchise lead at Genentech Inc.
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