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Report says MIT ‘bursting at seams’

Written By Unknown on Sabtu, 06 Desember 2014 | 00.32

Demand for entrepreneurship and innovation opportunities, facilities and classes is far outpacing the Massachusetts Institute of Technology's ability to meet those needs in terms of space and programs, according to a report commissioned by the university.

"We're bursting at the seams," said Vladimir Bulovic, associate dean for innovation in the School of Engineering and co-author of the preliminary report. "There is a tremendous drive by students for more and more entrepreneurial activity."

The report says many classes and facilities are far too popular to serve everyone, finding:

• A student machine shop that has a six-month, 200-student wait list.

• More than 1,000 applicants for the MIT $100K Entrepreneurship Competition.

• More than 3,000 students — out of roughly 11,000 — who take an innovation and entrepreneurship class each year.

The report recommends a number of solutions, including a co-working space for recent MIT graduates, the construction of two "Innovation Hubs" on campus, and the creation of the Laboratory for Innovation Science and Policy, a department that would study the innovation process and how to foster it.

"We need to provide our students an even better education so they can make an impact," Bulovic said. "Today's students want to make a difference tomorrow with the stuff they learn today."

The report's authors are hosting community briefings — the first on Monday — to solicit feedback before revising and finalizing it next year.


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Logan eyeing more direct foreign flights

With Mexico City crossed off the list, Massport is looking at adding more nonstop international flights to China, new direct service to India and Brazil, and the return of a direct connection to Milan, Italy.

"Mayor (Martin J.) Walsh also wants us to look at Belfast," CEO Thomas Glynn said, noting Walsh made the request after his September trip to Ireland and Northern Ireland, where he wants to forge greater business ties. "Part of our success has been the enthusiasm from the business community."

The economic impact on the Boston region of Aeromexico's six nonstop flights per week between Boston and Mexico City, which were announced yesterday and start June 1, will be an estimated $49 million, according to Massport. Mexico is Massachusetts' third largest trading partner.

The Aeromexico flights are getting a premium schedule to allow for connections to other parts of Mexico and Central and South America, and to Europe through Aeromexico's Delta Air Lines partnership, said Aeromexico CEO Andres Conesa Labastida.

"Today, Boston has good connectivity to Cancun," Conesa said. "But for leisure (travelers), there is a huge offering of places on the Pacific coast."

Logan's fast-growing international service — Mexico City will be its 42nd international destination — is putting pressure on Terminal E. Massport is investing $100 million in terminal improvements, but an expansion isn't on the immediate horizon, said Glynn. Massport instead has been moving airlines to other terminals.

"So far we're making it work, but it's definitely a question we need to look at," Glynn said. "It's not an easy thing to do when we're surrounded by residential neighborhoods."


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Panel waits on Wynn’s IRS flap

State gaming commissioners stopped short of faulting Wynn Resorts for failing to disclose an IRS request for documents a month before it won the Boston-area casino license — a probe the commission acknowledged Wynn only brought to its attention after a newspaper report.

Commissioner James F. McHugh said the gaming panel's Investigations and Enforcement Bureau (IEB) needs to report back on the nature of the IRS inquiry — which the Wall Street Journal reported is linked to a federal money laundering probe — to determine if Wynn should have notified them earlier.

"There's a difference between an inquiry about customers and an inquiry about them," McHugh said yesterday, after the commission's investigative chief gave her first public report on the matter. "There's an inquiry about them that's routine, there's an inquiry about them that is not routine. Until we know the answers to those kinds of questions, we're not in a position to make a judgment about whether or not we should have known."

IEB director Karen Wells said yesterday the IRS inquiry was brought to the commission's attention when Wynn's general counsel emailed her the Nov. 20 Wall Street Journal article. Wells said her agency's review has not yet turned up any summonses or subpoenas of Wynn employees.

"To my knowledge, at this time, one does not exist," Wells said.

Under the state's gaming law, licensees must "upon receipt of a criminal or civil process compelling testimony or production of documents in connection with a civil or criminal investigation, immediately disclose such information to the commission."

McHugh said, "It sounds to me like a process was not served … the statutory and regulatory obligation to report was not triggered."

But former state Inspector General Gregory Sullivan, now at the Pioneer Institute, said Wynn should have disclosed the inquiry considering the feds had recently reached a settlement with Las Vegas Sands.

"Since Las Vegas Sands had settled a high-roller money laundering investigation by the IRS for $47 million a year earlier, I would have expected the applicant to disclose to the Gaming Commission an administrative summons from the IRS criminal division for information about high-roller money laundering," Sullivan said.

Wynn VP Robert DeSalvio declined comment yesterday, referring questions to a company spokesman who did not respond to an inquiry.


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Sony hackers reveal Seth Rogen and James Franco's pay for 'The Interview'

The cyber-attack targeting Sony Pictures uncovered a few more confidential details on Wednesday in what has turned into a publicity nightmare for the entertainment company.

Seth Rogen was reportedly paid $8.4 million for "The Interview," according to new data obtained by Bloomberg, while his co-star James Franco earned $6.5 million for the comedy.

The film, which allegedly cost $44 million, also paid Britney Spears' ex-husband Kevin Federline $5,000 for a cameo.

"The Interview," about two journalists tasked with assassinating North Korea dictator Kim Jong-un, is at the center of a recent hack attack at Sony, which this past week saw several new films leak online in addition to personal data and salary information about the company's top executives.

The FBI is investigating the corporate hacking, one of the worst in recent memory.

The hackers, identifying themselves as "The Guardians of Peace," have claimed that more information will be released about the movie distributor in the coming days.

North Korea, meanwhile, hasn't denied its involvement in the computer breach, simply telling the media to "wait and see" if the country is retaliating for Rogen and Franco's new comedy, which opens Christmas Day.

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


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Ringo Starr re-lists Shoot N' Starr ranch near Aspen

SELLER: Ringo Starr
LOCATION: Woody Creek, CO
PRICE: $3,850,000
SIZE: 3,192 square feet, 3 bedrooms, 2.5 bathrooms

YOUR MAMA'S NOTES: Two weeks ago Your Mama dissed and discussed the pretty well palatial, 200-acre-plus English country estate that Beatles drummer Ringo Starr has up for sale at an undisclosed price that circumstantial digital evidence suggests is right around £15,000,000. (That's $23,541,600 as per our handy-dandy currency conversion contraption.) Earlier this week, as we first heard from the eagle-eyed kids at Curbed, the vaunted veteran rock star and his long-time wife, former Bond girl Barbara Bach, hoisted their 15-ish-acre spread along the Roaring Fork river in Woody Creek, CO, back on the open market with an asking price of $3.85 million.

Our research shows the Starrs picked up their rustic-luxe Colorado mini-ranch, which they dubbed the Shoot N' Starr ranch according to the wooden sign that hangs on the fence out front, way back in 1991 for $1.164 million. This is not, some of the children may already know, the first time the Starrs have tried to unload their Rocky Mountain retreat; They unsuccessfully had the place on the open market in 2010 for $4.5 million and then again in late 2013 and early 2014 for the (familiar) asking price of $3.85 million.

The equine accommodating property includes a 3,192-square foot main residence decked out in all manner of Americana regalia that Curbed accurately if cattily called "kitchy." There are three bedrooms and 2.5 bathrooms, as per listing details, plus a separate, studio-style caretaker unit. A Mexican paver tiled entry leads to a combination living and dining room with oatmeal-colored wall-to-wall carpeting, a stone-lined arched fireplace and high vaulted ceilings criss-crossed with a version of the rugged wood beams that are almost ubiquitous in a high percentage of the multi-million dollar homes in and around Aspen. The flooring switches to wood in the adjoining, window-lined family room that looks out over the yard and towards the river.

A row of muscular, tree-trunk beams make a bold and rustic statement in the spacious and well-maintained if outdated kitchen where the blue and white ceramic tile countertops are most certainly custom and have a sort of native American pattern thing happening that -- no offense to anyone -- this sometimes sassy property gossip is not so keen about as a countertop design. And, children, let's not even address the wacky wagon wheel "chandelier" over the center island that's laced with chili lights because just the very idea of it makes Your Mama need a nerve pill in the worst way imaginable.

One guest/family bedroom has multi-colored credenza painted in a rather cliché southwestern style and bevy of black and white photographs of what appear to be Native Americans while the other has a clunky television atop a dresser and a bed set -- we're afraid -- at a cattywompus angle. In general, Your Mama does not care for furnishings set at funny angles to a room's geometry but we find the practice particularly objectionable in bedrooms. Just imagine, children, how many times in the middle of the night a person has to reach down and retrieve a pillow that's fallen in to that sad little triangle between the head of the bed and the corner of the room? Anyhoodles, poodles, clunky boob-toobs and angled bed orientations are really neither here nor there when it comes to the real estate matter at hand so let's move on and wrap it up, shall we?

A dining and lounging deck off the back of the house looks out over a vast, tree-dotted lawn that slopes gently down to the rocky river's edge and a charming and perfectly appropriate split rail fence separates the landscaped areas around the house from a multi-acre horse pasture.

We can't confirm it directly but, so the story goes, Mister and Missus Starrs plan to spend more time in Los Angeles where our research shows they own a gated mini-estate near the eastern border of Beverly Hills that they scooped up in May 1991 for $3.2 million.

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


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Fox 25 broadcasting again on Verizon after reaching agreement

Verizon and the new owner of Fox 25 have resolved the fee dispute that led to broadcast blackouts for hundreds of thousands of Bay State Verizon Fios customers, the news organization announced today.

"We apologize to our viewers for any disruption that this dispute caused, and we thank Verizon FiOS for its willingness to continue working with FOX 25 to reach an agreement that is favorable for both companies and all of our viewers," Fox 25 said in a statement posted online. "FOX 25 is very pleased to be back on Verizon FiOS."

The fee dispute between Verizon and Cox Media group — which recently acquired the Boston-area Fox affiliate — made headlines last month when a failure to renew a deal for "retransmission consent" fees caused about 400,000 Massachusetts households to miss a Thanksgiving Day NFL game.


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The Ticker

Partners teams up with MedSpring

Beginning early next year, patients will have access to health care at multiple walk-in clinics in eastern Massachusetts through a partnership between Partners HealthCare and MedSpring Urgent Care.

The new Partners Urgent Care locations, which will be announced at a later date, will have physicians on site from 9 a.m. to 9 p.m. daily, including weekends and holidays, to treat routine illnesses and injuries, from colds and coughs to cuts and broken bones.

Sirius to pay Mass., 44 other states

Resolving claims that the satellite radio company engaged in misleading advertising and billing practices, Sirius XM Radio Inc. of New York has agreed to pay $3.8 million and provide restitution to eligible consumers, Attorney General Martha Coakley announced yesterday. The settlement will bring more than $80,000 to the commonwealth.

Coakley has joined 44 other states and the District of Columbia in the settlement with Sirius XM, resolving allegations that the company engaged in misleading, unfair, or deceptive acts or practices in violation of state consumer protection laws.

  • Vantage Builders of Waltham has announced the hiring of construction industry veteran Mark Price, left, as project manager. Price has more than 25 years of experience in construction and property management.

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East Somerville home rings with history

There are many historic homes for sale around Boston, but only one can claim to be the site of the world's first residential telephone connection.

The 4.958-square-foot house at 1 Arlington St. in East Somerville, on the market for $899,000 — down from the original $995,000 asking price — has a fascinating history as well as mahogany and cherry woodwork, original wood floors and brass chandeliers and sconces.

The 10-bedroom house was built in two phases: the 1858 Italianate main house built for the Tufts family and an Eastlake-style renovation and side addition completed in 1888.

In 1877, then-owner Charles Williams Jr., a Hub telegraph manufacturer who teamed up with his business tenant Alexander Graham Bell to build the first telephones, had the world's first home phone. It was connected via a dedicated line to his office at 109 Court St. with "1" and "2" as the phone numbers.

The home is on the city, state and the national registers of historic places.

The first floor living spaces still reflect the home's grandeur, with original doors, carved window and door moldings, and a grand front staircase.

The living room, to the left of the entryway, is a large space with restored oak floors, bay windows and two original fireplaces with cast-iron grates and carved wood mantels. Two brass chandeliers hang from elaborate plaster medallions, and original sconce lights ring the walls.

The formal dining room has elaborate wood floor patterns, a carved fireplace with an Italian tile hearth, and a large original walk-in pantry with glass cabinets. An adjacent library has tall windows and a carved wood mantel fireplace.

Original hinges and brass door knobs, some with carved lion's heads, add to the authenticity.

The house's exterior has much of its original detailing, with covered balconies on either side topped with iron brackets. There's a pedimented covered front porch and brackets under the roof. But the clapboard has been replaced by vinyl and the original facia boards need work.

The kitchen has two intact pantries, but its appliances need to be replaced.

The bedrooms on the second and third floors are good-sized, but bathrooms — two on the second and one on the third floor — need to be redone.

The electrical systems also need updating, but the heating system was replaced about a decade ago.

Despite its condition, the historic home is starting to connect with potential buyers. Several are considering converting it into a bed and breakfast, a use that the city of Somerville will allow, and the Lincoln-based Telephone Museum is interested in buying the house as its headquarters.

"It's taken awhile to attract offers because it has more space than many people require and it needs upgrading," said broker Thalia Tringo. "But the house has a lot to offer with its intricate wood detailing and wonderful room scale."


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Globe CEO: Smartphones great for news, but print’s better for ads

Most journalism in the years to come will be delivered on smartphones, Boston Globe CEO Mike Sheehan said yesterday, but print journalism may not be on its way out entirely.

Asked what role smartphones will play in the industry's future, Sheehan said, "Everything."

"It's not going to be an overnight migration, but it's important for us to appeal to 18- to 35-year-olds, and their life is on the smartphone," he said at the Massachusetts Newspaper Publishers Association annual meeting in Boston. "But it'll be easier to do from a journalistic sense than from an advertising sense. That's going to be the challenge."

Because of the difficulty of creating advertising that works well on a smartphone, he said, the industry may see a stabilization in print journalism.

"More and more," Sheehan said, "I talk to advertisers who come back to print because they say, 'You know what? It just works.'"

There is no turning back the clock on digital journalism, however, he said, and to remain viable, more and more newspapers, including the Globe, are charging readers for that content — something he doesn't see as a bad thing.

"It always bothered me that newspapers gave away journalism for free. It killed me," he said. "We just have to make sure the quality is always there, that digitally, it's updated regularly, and it's terrific, relevant, important content ... I know of no other way to build a business than to improve the quality of the product. The great thing about a newspaper is in print you can improve it every 24 hours, and digitally, you can improve it every two minutes."


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US adds 321,000 jobs, the most in nearly 3 years

WASHINGTON — A burst of U.S. hiring in November — the most in nearly three years — added 321,000 jobs and provided the latest evidence that the United States is outperforming other economies throughout the developed world.

In addition, the government said Friday that 44,000 more jobs were added in September and October combined than it had previously estimated. So far this year, job gains have averaged 241,000 a month, putting 2014 on track to be the strongest year for hiring since 1999.

The unemployment rate remained at a six-year low of 5.8 percent.

"These were boom-like numbers," said Mark Zandi, chief economist at Moody's Analytics. "They indicate that the U.S. economy is on very solid ground."

November's robust job growth, reflecting a steadily rising economy, could make it likelier that the Federal Reserve will start raising interest rates by mid-2015 as many economists have speculated. The Fed has kept its key short-term rate at a record low near zero since 2008 to support the economy.

The job gains last month coincided with a sharp increase in workers' pay. The average hourly wage rose 9 cents to $24.66, the biggest gain in 17 months. Still, over the past 12 months, hourly pay has risen just 2.1 percent, barely above the 1.7 percent inflation rate.

Hiring last month was broad-based but particularly concentrated in retail, temporary services and transportation and warehousing. Those increases likely reflect seasonal hiring for the holiday season. Shipping companies have announced ambitious plans: UPS has said it expects to add up to 95,000 seasonal workers, up from 85,000 last year. FedEx plans to hire 50,000, up from 40,000.

In addition, manufacturers added 28,000 jobs in November, the most in a year, and education and health services 38,000. Professional and business services, a category that includes generally low-paid temps but also higher-paying jobs in fields such as accounting and engineering, added the most jobs in four years.

The surge in hiring comes after the economy expanded from April through September at its fastest six-month pace in 11 years. The additional jobs should support steady economic growth in coming months.

The U.S. recovery still has far to go to fully rebound from the Great Recession, given that many people without jobs have stopped looking for one and are no longer counted as unemployed and many others have received little or no pay increases.

"At this rate, we won't return to pre-recession labor market health until October 2016 — nearly nine years since the recession began," said Elise Gould, a senior economist at the liberal Economic Policy Institute.

Even so, the improving U.S. job market contrasts with weakness elsewhere around the globe. Growth among the 18 European nations in the euro alliance is barely positive, and the eurozone's unemployment rate is 11.5 percent. Japan is in recession.

China's growth has slowed as it seeks to rein in excessive lending tied to real estate development. Other large developing countries, including Russia and Brazil, are also straining to grow.

Most economists say the United States will likely continue to strengthen despite the sluggishness overseas. The U.S. economy is much less dependent on exports than are Germany, China and Japan. U.S. growth is fueled more by its large domestic market and free-spending consumers, who account for about 70 percent of the economy.

That trend helps support the steady U.S. job growth. Most of the industries that have enjoyed the strongest job gains depend on the U.S. market rather than on overseas demand. Retailers, restaurants and hotels, and education and health care, for example, have been among the most consistent sources of healthy hiring since the recession officially ended in 2009.

Seva, a chain of fast-casual spas located mainly inside Wal-Mart stores, has been adding jobs all year while expanding from about 75 to 100 sites. It plans to open more free-standing spas in Georgia and Illinois next year.

CEO Vas Maniatis says its customers have been willing to spend more this year on higher-priced services such as body waxing and facials, which have boosted revenue. Just after the recession, the company had focused more on lower-priced procedures such as eye brow shaping.

"People want the services," he said. "They are willing to spend more money and are spending more in our stores."

Most recent figures on the economy have been encouraging. Americans are buying more cars, which will likely keep factories busy in coming months. Auto sales last month rose to their second-fastest pace this year. Car sales are on track to rise 6 percent this year from 2013.

And a survey by the Institute for Supply Management, a trade group of purchasing managers, showed that services firms expanded at nearly the fastest pace in eight years last month. The ISM's separate survey of manufacturing firms showed that factories are expanding at a brisk pace.

There have been some signs of moderating growth. Consumer spending rose only modestly in October. And businesses ordered fewer big-ticket manufactured goods that month, excluding the volatile aircraft category. That indicates that companies are holding back on investment.

___

AP Economics Writer Josh Boak contributed to this report.


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