Modern style lights up Southie home

This architect-­designed freestanding contemporary townhouse offers a mix of Manhattan and the South End in a traditional neighborhood on South Boston's East Side.

Designed by Boston architectural firm Touloukian Touloukian Inc., this three-­bedroom unit has an open, airy feel on its four levels of living space. Winner of a Boston Society of ­Architects design award, this stylish abode was added to the rear of an 1890s brick bowfront home, and features a custom full-wall maple built-in in the living/dining area, a high-end kitchen and lots of picture windows, skylights and a three-floor light shaft that bring in daylight. It's on the market for $825,000.

The house has a clapboard exterior and is topped with a decorative fin. A private ­entrance leads into a double-height foyer with a two-tier chandelier.

To the left is a ­recessed-lit open living/dining/kitchen area with high ceilings, maple floors and a large picture window. Along one full wall sits a custom maple built-in with bookshelves above, a granite shelf and cabinets below.

The dining area segues into a kitchen with custom maple cabinetry, granite counters and a full-wall granite backsplash with glass shelves. There's a granite-topped island with stainless-steel cabinets and stainless-steel appliances including a Bosch refrigerator and dishwasher and a Frigidaire four-burner gas stove.

Off the kitchen is a half bath with basket-weave Carrara marble floors and a pedestal sink.

The turning stair­cases to bedrooms on the second and third floors have metal and glass rails and there are corner windows at the top of the landings.

The second floor has an en-suite guest bedroom with maple floors and a bathroom with Carrara marble floors and lined shower. The bath also opens onto a third small bedroom, which is nursery-sized but with a large closet with built-in storage. Along the second-floor hallway is a closet with a stacked Bosch washer and dryer.

The townhouse's master bedroom suite takes up the entire third floor, which is crowned with a series of skylights and a light well that make it very sunny. There's a decent-sized bedroom with maple floors and a large picture window and the room steps down to a light-filled home office. The master suite has a large walk-in closet with built-in storage and frosted-glass wardrobe space. The master bathroom has a radiant heated marble floor as well as a marble-lined steam shower. There's also a lot of extra cabinet space along the outside wall of the bedroom.

The carpeted lower level of the unit has a family room/home ­office with built-in maple cabinets and a decent amount of storage space in an unfinished area behind. This area also houses a gas-fired two-zone heating and central air-conditioning system.

There is garage parking for this unit behind, along with one tandem outside space. But there is no green space in the backyard.

Broker: Colin Sullivan of Coldwell Banker Residential Brokerage at 617-529-6622

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AOL's Patch local news site to lay off up to 500

NEW YORK — AOL Inc. is laying off up to half the workforce at its Patch local news sites and shuttering or consolidating roughly 150 of the 900 sites while looking for partners for others.

Up to 500 of Patch's 1,000 employees will go in the layoffs, which started on Friday with 350 people getting pink slips. In all, the layoffs amount to about 9 percent of AOL's total workforce of 5,500.

AOL Inc. CEO Tim Armstrong co-founded Patch, an ambitious experiment in local news meant to compete with newspapers, in 2007. AOL bought it in 2009 after Armstrong had taken over the helm of the New York-based Internet company.

Patch ran into the same problems that newspapers had already discovered — that it's expensive to cover local news. For about an 18-month period in 2010 and 2011, Patch was the biggest hirer of journalists, just as they were being laid off from struggling U.S. newspapers, said media analyst Ken Doctor of Outsell Inc.

AOL does not break out Patch's finances in its earnings reports, but Doctor said it was obviously "a financial drag on earnings." He estimates that AOL has invested more than $100 million into Patch over time.

In a statement, AOL said that "Patch's strategy will be to focus resources against core sites and partner in sites that need additional resources."

Shares of AOL, which also owns the Huffington Post and TechCrunch, fell 31 cents to $35.14 in midday trading.

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BlackBerry chief executive could receive $55.6M

TORONTO — BlackBerry CEO Thorsten Heins could receive as much as $55.6 million if the company is sold and he is ousted from the top job.

Heins would receive $48 million in equity awards, based on the company's share price at the end of its latest fiscal year, according to a regulatory filing earlier this year. He would also get $7.5 million in compensation for his salary and bonus under the change of control provisions in his contract.

The company would pay $72,000 in benefits and retirement savings.

BlackBerry announced that a sale of the company was one option that would be considered under a strategic review of the company, which has lost market share to Apple and Android-based phones.

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JPMorgan Chase to pay $23M to settle dispute

JPMorgan Chase & Co. has agreed to pay $23 million to settle claims that it mishandled pension fund money by investing with Lehman Brothers.

A court document filed Friday shows that the New York bank denies any wrongdoing but agreed to settle the lawsuit to avoid the burden, expense and distraction of litigation. A U.S. District Court must approve the settlement before it is final.

The lawsuit was filed by the Operating Engineers Pension Trust in 2009. They claim JPMorgan handled its funds recklessly by investing in notes issued by failed investment firm Lehman Brothers Holdings Inc.

Lehman's bankruptcy filing in September 2008 helped spark a credit crisis that plunged the nation into its deepest recession since the Great Depression.

A representative for JPMorgan did not immediately respond to a request for comment.

Paul Geller, an attorney for the plaintiffs said in an email that, "We are pleased with the resolution for our client and other class members," but noted that the case still requires court approval.

J.P. Morgan Chase shares closed unchanged Friday at $53.29 and added 2 cents in after-hours trading.

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Former Kings suitor funds drive to defeat arena

SACRAMENTO, Calif. — Billionaire Chris Hansen, who tried to move the Kings NBA franchise from Sacramento to Seattle, is behind a secretive effort to thwart the city's efforts to build a new downtown arena for the professional basketball team, California's campaign watchdog disclosed Friday after an investigation.

The announcement is an embarrassment for Hansen, who lost his bid after NBA owners voted to keep the team in California's capital city, and it could undermine support for the local ballot measure Hansen funded that is designed to put to a citywide vote the council's planned $258 million subsidy for a downtown arena.

"I made a mistake I regret," Hansen said in a written statement. "While I'm sure everyone can appreciate how easy it is to get caught up in the heat of battle, with the benefit of hindsight, this is clearly a decision I regret."

Hansen had said he would end his effort to buy the Kings for $625 million after the NBA blocked the sale, and a group of investors led by technology executive Vivek Ranadive bought the team a day later for $535 million.

Hansen publicly wished the city well after losing his bid to buy the team. Yet the California Fair Political Practices Commission said that a month later, Hansen gave $80,000 to pay signature gatherers trying to get the measure on next June's ballot, and the group violated state law by refusing to disclose the donation.

The NBA has said that Sacramento must build a modern arena to keep the Kings in town. The team's new owners have set a 2016 target.

Hansen's money was funneled through the Los Angeles law firm of Loeb & Loeb. Hansen said the firm approached him about making a contribution to the petition effort after he had hired them to gauge citizen opposition during the battle over the sale.

Members of Sacramento Taxpayers Opposed to Pork, which filed to put the initiative on the June 2014 ballot, distanced themselves from the money and said they use only volunteers to circulate petitions. Spokesman John Hyde said the money went to a political group that offered to assist STOP's efforts.

"No doubt this is a PR nightmare for STOP," Hyde said. "We didn't know where that money came from and we weren't the recipient of any of that funding."

The signature gatherers are halfway to the 22,000 they need to qualify the measure by December, Hyde said.

Gary Winuk, chief of the commission's enforcement division, said Hansen donated $100,000 total. It was not immediately clear what happened to the additional $20,000, though Winuk said it might have been spent on other expenses. He said the investigation is continuing.

"These are as sophisticated parties as you can get and they should know better," Winuk said. "Most people just comply when we call them. They just happened to make us take them to court."

The donors were intentionally denying the public information that could help them decide whether to sign the petition, he said.

The commission filed a lawsuit Thursday to learn the donor's identity and revealed during a Friday news conference that it was Hansen.

"Unbelievable," said state Senate President pro Tempore Darrel Steinberg, who is from Sacramento and was active in efforts to keep the Kings in town.

Kings and NBA officials declined comment, as did Sacramento Mayor Kevin Johnson, a former NBA all-star who led the fight to keep the team.

Suspicion about the origins of the money originally had fallen on the Maloof family that previously owned the team because the same law firm had long represented them.

The commission was dropping its lawsuit, but Winuk said Hansen and the law firm could face a civil fine of up to $80,000 plus an administrative fine of up to $5,000 for each of at least three campaign-reporting violations.

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Baker’s cooks up a problem

There's a meltdown in the baking aisle as consumers, angered at Baker's Chocolate shaving the size of its iconic bars, took their fudgy feud to Facebook.

Baker's Chocolate, which originated in Dorchester, halved its package from 8 ounces to 4 ounces in the spring, but the cocoa cacophony went viral this week when the pop culture site Buzzfeed harvested and posted the best barbs from Baker's Facebook page.

Cambridge resident Amy Todd, 47, was among those brought to the boiling point.

"The box has been the same size my entire life. I stood in the aisle thinking there is something strange about this. I really wondered if there had been a mistake. Why was the price so high?" Todd told the Herald about her Facebook rant.

Todd, an anthropology professor at UMass Boston, was prompted to post a complaint after paying $4.99 for a 4-ounce package at a local supermarket in May.

Kraft Foods, Baker's parent company, responded to a Herald inquiry with a statement. The size reduction was "consumer driven" and the "suggested retail price was lowered to $2.89," wrote a Kraft spokesman.

At Shaw's in Brighton, a 4-ounce box of Baker's Chocolate was priced at $3.29. Nearby at Stop & Shop, Baker's was selling for $3.19.

Excerpts from the vitriol on Baker's Facebook page included this from Sarah Carol Bing: "Another loyal customer lost. I have been making my great aunt's recipe using Baker's Chocolate for 25 years now. The original recipe, written in her own handwriting calls for an 8 oz package of 'Baker's Chocolate.'"

Another user, Shannon Harris, quipped, "Christmas is coming, and baking season. Too bad, I will be switching brand for all my zillion kitchen adventures." Tammy Borushko railed, "Wow! What a crappy way to treat your customers."

Edgar Dworsky, a Somerville-based consumer advocate, said a communication meltdown may be to blame.

"Did they cut the price in half? No, there's a bit of a premium. The product was cut in half content-wise but the price wasn't, but the price was definitely reduced," said Dworsky. Even if sold at Kraft's suggested retail price of $2.89, the chocolate is now 72 cents per ounce as compared to 62 cents.

But the damage has been done for Dorchester baker Chirelle Hitt. Hitt, 40, tackles the holiday baking for her family and is known for whipping up batches of chocolate crinkles for workmates.

"At this point, I'm so used to using the 8-ounce it feels like I'm cheated even if the prices are lower," said Hitt, a staff assistant at Harvard Medical School. "I'm already looking for different chocolate."

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MIT, Ford: Road worries

Ford Motor Co. is collaborating with the high-powered brains at the Massachusetts Institute of Technology to help tackle some of the biggest future transportation problems they foresee, such as global gridlock.

"We want to try to solve the problems that matter," said MIT professor John Leonard. "We want the world to bring the problems to our doorstep so we can try to solve them."

Leornard is principal investigator for the Ford/MIT Alliance, which is now in its 15th year.

"MIT is clearly at the very top level," said Ed Krause, Ford's global manager for external alliances. "MIT does a great job blending theoretical research and practical research."

The transition to electric and hybrid vehicles isn't an issue, as far as the alliance is concerned. "We can sort of see our way to that solution," Krause said.

Instead, the alliance is primarily focusing on problems that have barely presented themselves, such as global gridlock.

Rooted in the idea that developing countries such as China and India will eventually be overrun with cars, Ford — surprisingly — is trying to find a solution.

"Increasing amounts of people and wealth are going to end up in these cities. How is that going to change how people move and how goods move?" Krause said. "If there's a huge traffic jam, how are you going to get ambulances somewhere?"

One way to help address the issue is by designing a new transportation system. MIT professor Cynthia Barnhart is working on a solution that "integrates vehicle-sharing and public transportation systems. The goal is to provide users with end-to-end transportation while helping to alleviate gridlock," Leonard said.

Global gridlock is an issue that Bill Ford, executive chairman of Ford, is especially passionate about. He has given a number of talks on global gridlock, including one at the high-profile TED Talks series, Krause and Leonard said.

Researchers from MIT have also worked on other projects, including making batteries more efficient and analyzing the business of selling cars to make it more efficient.

"They really run the gamut of all sorts of different things," Leonard said.

One added benefit is the research that comes from MIT has real-world use.

"Our alliance with Ford and other major companies give us this grounding in real-world and practical problems," Leonard said. "It's a way for our work to have impact."

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Nissan 370Z is 100% sports car

The 2013 Nissan 370Z Roadster Touring boasts outstanding sports car performance that is priced well under the German and Italian competition — an entry level 370Z is yours for under $45,000.

Our gorgeous test Z was dressed in a midnight blue metallic paint and capped with a black cloth droptop. Conspicuous red-painted brake calipers glared out from 19-inch Rays alloy wheels, which were part of a sport package that pushed the price of our tester up to $50,000.

While the price tag says entry level, the Z is 100 percent sports car. The Nissan's 3.7 liter V-6 engine produces 332 horsepower. The Z, which weighs in at 3,488 pounds, does 0 to 60 mph in 4.9 seconds. A 6-speed manual transmission was a blast to rip through, especially with the top down.

Driving the Z was all about performance. Our tester's firm suspension, bigger wheels and low ground clearance provided sharp handling. The Z felt fast even at low speeds as it was hard to hold back in stop and go situations. The Z's sport tuning was great for highway straightaways and twisty roads, but gave the coupe a harsh feel on bad pavement and bridge expansion joints. The Z also suffered from permeating road noise with the top up, which was a great excuse to keep it down.

Despite being only a two seater, I found plenty of leg room with the roadster's power adjustable seats. The leather and mesh cloth buckets were both heated and air conditioned, features that kept the convertible top down on cool nights and in hot weather. The coupe's interior featured a leather-wrapped steering wheel and stick shift. Aluminum-trimmed pedals also stood out. Storage space was limited, but I did find some space behind the seats for a bag or two of groceries.

Trunk space was sparse, barely enough room to fit a couple of overnight bags, but it does offer a diagram on how to fit a bag of golf clubs into the tight space.

The Z has an engaging dashboard with red dials and digital readouts constantly changing on six gauges.

While overwhelming at first, I found the additional controls on the steering wheel, combined with a compact media center and a full array of radio dials, simple to operate.

The Z is expensive when compared to the Subaru Scion coupe offerings, which are clearly out-muscled on the straightaways by the Nissan, but all match in handling. On the higher end, the Z's agility, muscle and abundance of modern technology really gives the $90,000 Porsche Boxter S a run for the money. 

Clearly the Z is not a long road tripper and it would be hard to justify as a daily driver, but who wouldn't love to haveone sitting in his garage for a midsummer night dinner reservation for two or for a fall foliage run.

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Mass. likely to mirror U.S. start stats

Massachusetts builders appeared to follow a national trend of breaking ground on more apartments than single-family homes in July, particularly in Boston and its suburbs, according to a local builders group.

"Massachusetts continues to lag behind the vast majority of states in new construction, which is going to lead to a spike in housing prices," said John Smolak, chairman of the Homebuilders and Remodelers Association of Massachusetts' governmental affairs committee. "Because of housing prices and the state of the economy, apartments are a more affordable option."

In some parts of the state, existing homes for sale are drawing multiple bids because of a lack of new housing starts due to regulatory hurdles such as zoning and energy-efficiency requirements, Smolak said.

State housing-start statistics will not be available until later this month.

Nationally, developers broke ground on homes at a faster pace in July, but the rise was because of apartment construction, according to data released yesterday by the U.S. Commerce Department. Builders began work on fewer single-family homes — the bulk of the market — and sought fewer permits to build them.

Robert Authier, executive vice president of the Massachusetts Association of Realtors, said one of the reasons may be that it can be harder for buyers to get a mortgage.

"We've seen nine straight months of housing price increases," Authier said. "A lot depends on whether an appraisal is keeping pace with rising home prices. If the appraisal comes in lower than the value ratio of the house, the buyer won't qualify."

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The Ticker

Dow has worst week

Stocks fell yesterday, closing out what was the worst week of the year for the Dow Jones industrial average.

The market was dragged lower by a weak performance from retailers and companies sensitive to higher interest rates. Homebuilders and banking stocks were among the best performers.

Stocks had a decent start to the week, but investors were hit hard the past three days. The Dow retreated 2.2 percent for the week, its worst in 2013. The broader Standard & Poor's 500 index lost 2.1 percent for the week, its second-worst performance of the year.

The possibility of a cutback in the Federal Reserve's bond-buying program in September has roiled the bond market, which has spilled over into stocks. The yield on the benchmark U.S. 10-year Treasury note rose to 2.83 percent, its highest level since July 2011.

Judge hurts Icahn bid for Dell

A Delaware judge yesterday dealt a blow to activist investor Carl Icahn's effort to stop CEO and founder Michael Dell's $24.8 billion buyout offer for the struggling computer maker.

He refused to fast-track proceedings on Icahn's claims that Dell Inc. directors have betrayed their duties to shareholders in trying to win support for Michael Dell's bid.

After three delays, Dell's board has scheduled a special shareholder vote on Sept. 12 for Michael Dell's offer of $13.75 per share, plus a 13-cent dividend. That's to be followed by an overdue annual meeting on Oct. 17.

Icahn, who is seeking to oust Michael Dell as CEO, wanted the vote and annual meeting to be held on the same day. That would give shareholders a chance to vote on a rival board he is offering as part of his proposal, a complex alternative plan that he says would be worth at least $15.50 per share.

Egypt violence sends oil higher

The price of oil rose for the sixth consecutive day yesterday on continuing violence in Egypt and supply disruptions elsewhere in the Middle East and North Africa.

U.S. benchmark crude edged up 13 cents to $107.46. It rose 1.4 percent for the week. Brent crude, which is used to price imported crude used by many U.S. refineries, rose 80 cents to $110.40 per barrel for October delivery.

The average retail price for a gallon of gasoline rose less than a penny to $3.54 per gallon. It is down 9 cents per gallon in August, however, and it is 17 cents lower than it was last year.

THE SHUFFLE

• Acella Construction Corp., a construction services company, announced that Dennis Tellier, left, has joined the firm as a project superintendent. Tellier will coordinate site construction activities and supervise field personnel to complete projects on time and within budget.
• Eastern Insurance Group LLC announced that Timothy J. Lodge has joined the agency as a senior vice president in its commercial lines division. Lodge will work out of Eastern Insurance's Providence, R.I., office as a sales executive focusing on the real estate, manufacturing and technology industries.

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