HubSpot looks to raise $120M

Cambridge enterprise software company HubSpot plans to raise up to 
$120 million from its initial public offering, according to a filing with the Securities and Exchange Commission.

In the filing, HubSpot said it will sell 5 million shares of common stock with an option for 750,000 more for between $19 and $21 per share. That would value the company at more than $600 million.

Renaissance Capital, which manages an IPO ETF, expects shares of Hubspot to hit the market within two weeks.

Kathleen Smith, chairman of Renaissance Capital, said HubSpot will have to convince investors it is different from other enterprise software companies, many of which have struggled in the public markets so far this year.

"This sector sold off back in March," Smith said. "Investors weren't making any money."

HubSpot, best known for its software for marketers, announced several new products last week designed to move the company into the sales industry.

At its annual customer conference last week, CEO Brian Halligan said he is trying to build an "anchor company" in Boston that can help lead the region's charge as a global technology leader.

00.48 | 0 komentar | Read More

For-profit schools sue state over new regulations

BOSTON — An association representing for-profit schools is suing Attorney General Martha Coakley over new regulations they say are unconstitutional.

Coakley says the regulations require for-profit and occupational schools to provide accurate information to the public while prohibiting misleading advertising and addressing unfair lending practices.

The Massachusetts Association of Private Career School filed a complaint in federal court, arguing the rules impose "a new and unworkable regulatory regime on for-profit educational institutions that is unnecessary, overly burdensome, and in many aspects, impossible to satisfy."

The group also argues the regulations are a violation of the First Amendment right to free speech by compelling certain speech while restraining other speech.

Coakley says the regulations will help protect students by requiring schools disclose in advertisements and recruitment materials information about tuition and fees, placement statistics and graduation rates.

00.48 | 0 komentar | Read More

Genesis creates bible on value

If you are in the market for a mid-sized luxury car that is equipped like a Lexus, looks like a BMW and feels like an Audi, with a lower price tag, look no further than the 2015 Hyundai Genesis AWD.

At just $52,450 fully loaded, the Genesis delivers posh luxury at a modest price. While the Korean manufacturer is not known for high-end vehicles like its Japanese and German counterparts, Hyundai makes a solid effort to continue to gain footing in this category.

Beginning with the heads-up display, which projects speed limit and current speed on the windshield, the Genesis sports features only seen in superior automobiles. The display is adjustable for driver height, making it easier for you to monitor your speed while keeping your eyes on the road.

Like its opulent counterparts, the Genesis has heated and ventilated 12-way-adjustable ultra leather power seats and a supremely comfortable burlwood-framed cabin. The steering wheel has controls for volume, phone and adjusting the cruise control. A large power tilt and slide sunroof lets light in when you want it.

The Genesis, of course, has a proximity key with push-button start — a feature quickly becoming a must in cars over $20,000. Like its pricey rivals, the Hyundai even has puddle lights, a bat signal-like projection from the side view mirrors that lights up the ground with the car moniker.

The mirrors also have safety features such as blind-spot detection and will alert you to crossing traffic.

The Genesis has lane departure detection, which can warn you when you drift. And the smart cruise control keeps the car from gaining on the car in front of it, modifying the speed to match it.

Perhaps the Genesis' best feature is the auto emergency braking, which uses both cameras and radar sensors to keep the vehicle from colliding with another, even if the driver isn't paying attention.

The handling on this car is excellent. A revamped high-performance system with gas shock absorbers translates power to the 18-inch alloy wheels with precision. Driving this car creates a feeling of balance that is expected in a high-end car.

Hyundai tops this car off with a potent Lexicon 17-speaker sound system commanded by a 9.2-inch touchscreen, which also controls the GPS. Menus on the system make sense — an attribute often overlooked even in the luxury market.

The only letdown compared to its higher-priced competition was in performance. While the Genesis' 8-speed automatic transmission with paddle shifters provides a sporty driving experience, the thrust will not impress as much as its competition. Coupled with the fact that the accelerator pedal does not have much depth to it, the Genesis feels like it has little less zip.

Acceleration aside, the Genesis is an excellent value and is well on its way to proving it belongs in the luxury class.

00.48 | 0 komentar | Read More

California cities crack down on ride-sharing firms

SAN FRANCISCO — Ride-sharing companies Uber, Lyft and Sidecar are being threatened with legal action in San Francisco and Los Angeles over how they screen drivers and charge passengers, along with other business practices.

The cities' district attorneys sent letters to the three companies, warning they could face legal action if they fail to change the practices.

The company Sidecar publicly released a copy of the letter it received Thursday from San Francisco District Attorney George Gascon.

Gascon said he and Los Angeles County District Attorney Jackie Lacey have concluded Sidecar is making "misleading representations" on its website that it screens out drivers "who have ever committed driving violations, DUI, sexual assault and other criminal offenses."

The prosecutors also claim the way Sidecar calculates shared fares — allowing people going the same way to hop in a car and pay separately — is illegal.

Sidecar's rivals Lyft and Uber received similar letters that also included complaints about airport trips and the transparency and accuracy of the companies' fares. The companies and Gascon's office declined to release those letters.

In the letter to Sidecar, Gascon and Lacy threatened to seek fines and other penalties in court if the company didn't comply with his demands to change its business practices. The district attorneys want a response by Monday and a face-to-face meeting by Oct. 8.

Sidecar chief executive Sunil Paul said the company conducts criminal background checks reaching back seven years for each driver. He said he believes the message on the company's website is accurate, but that he's open to discussions with Gascon.

Meanwhile, Paul defended the company's new "shared rides" carpooling feature that Gascon and Lacy say violate California law barring drivers from charging separate fees for passengers in the same car going to the same destination. Paul said the law is "archaic and arcane."

Officials with Uber and Lyft didn't return phone calls Friday. However, each company issued a statement saying company officials would meet with the district attorneys.

"The DAs have made numerous inaccurate assertions that we will correct and discuss with them," Uber spokeswoman Eva Behrend said.

"We are confident that we can work with the District Attorneys' offices to address the items outlined in their letter and look forward to discussing with them soon to do so," Lyft spokeswoman Paige Thelen said.

The legal threats are the latest challenges to the companies that have popular smartphone apps allowing passengers to order rides in privately driven cars instead of taxis.

Cab and limo operators in places such as New Mexico and Washington state have sued the ride-sharing businesses. Officials in some states have enacted rules regulating the companies, while other cities and states have struggled to pass laws.

"We value innovation and new modes of providing service to the public," San Francisco District Attorney George Gascon said in a statement. "However, we need to make sure the safety and wellbeing of consumers are adequately protected in the process."

___

Information from: San Francisco Chronicle, http://www.sfgate.com

00.48 | 0 komentar | Read More

Sox fans buy into Jeter goodbye

Another legend is ending his career at Fenway Park and Red Sox Nation is embracing the moment at a record pace.

Tickets for this weekend's Red Sox-Yankees games are skyrocketing as Derek Jeter ends his career in Boston. In a rare move, the Sox are also selling the Captain's merchandise.

Tickets for the game tomorrow, Jeter's last, are going for an average of $386 per seat, the second most expensive Sox home game this year. Opening Day was tops when World Series rings were presented, according to Jesse Lawrence, CEO of TiqIQ.

That is close to four times more than the average ticket this year, at $101.

"This game will end up being the third most expensive regular season game over the last four years," Lawrence said of the final game tomorrow. He said fans are clearly willing to pay to say farewell to the Big Apple icon.

Still, prices could have been even higher. When Jeter said he would only be a designated hitter for the series in Boston, prices began to drop, Lawrence said.

"If people are going to pay up, they want to see him," he said.

Jeter has been making a goodbye tour this season after announcing he would retire, ending a 20-year career that began when he won the Rookie of the Year award. He was selected to 14 All-Star teams and won five World Series championships.

Tickets to Jeter's farewell to Yankee Stadium on Thursday went for an average of $768, more expensive than any of the five World Series games in the past four years. He also hit the game-winning single in a made-for-the-Hall moment.

"There's a pretty good argument that it was the most expensive regular season game ever," Lawrence said.

All three games this weekend in Boston are sold out.

Meanwhile, the Red Sox team shop is selling Jeter souvenirs — offering merchandise for an opposing player in a rare move for a "special occasion," Red Sox spokeswoman Zineb Curran said.

The Sox sold merchandise for Ichiro Suzuki when he joined the Mariners from Japan and became an international phenomenon, and sold Cal Ripken Jr. souvenirs at one point.

But the Fenway Faithful showed their class last night — even though Jeter wasn't in the lineup — donning Yankees hats and shirts and waving signs praising the shortstop for all the great memories. "Simply the Best," one sign read. "Farewell Captain & Legend. RE2PECT," stated another placard.

00.48 | 0 komentar | Read More

Lovely flats in Chelsea shoe factory

This sunny corner unit at the Spencer Lofts in Chelsea has 10 large windows and 15-foot ceilings in a building that used to be a Buster Brown shoe factory.

The price of Unit 210 is just $289,000, and that includes two deeded outdoor parking spaces.

Built, in 1910, the brick factory building housed the Brown Shoe Co. before being converted into 100 condos in 2004. Along the ground floor is an attached art gallery that shows local artists, a number of whom live in the complex.

The 1,126-square-foot unit has an open floor plan with the bedroom set off by a large walk-in closet.

You enter into an open ­living/dining area with a wall of 10-foot-high windows and a light/fan hanging from 15-foot ceilings. Jelly-jar lamps add to the industrial feel, along with exposed ductwork bracketed wood posts and concrete floors.

To the right is a galley kitchen with Ikea wood and frosted cabinets, Formica counters, stainless-steel Frigidaire gas stove and refrigerator, and a Kitchen­Aid dishwasher that was added in 2009.

The adjacent full bathroom has a white porcelain sink, a white-tiled tub and shower, and also has a stacked Kenmore washer/dryer. There's additional storage above the bathroom, which also holds the unit's just-replaced electric water heater and gas-fired heating and central air conditioning system.

On the wall separating the living area from the bedroom is built-in shelving.

A large walk-in closet with built-in wardrobes on either side screens the corner bedroom, with walls of windows on two sides.

00.48 | 0 komentar | Read More

State’s new 911 system will increase phone bills

The state's planned shift to a next-generation 911 system that accepts emergency messages via mobile texts, video and Web-based platforms such as Skype in addition to phone calls will increase residents' monthly phone bills.

The State 911 Department is petitioning to raise its monthly enhanced 911 surcharge, which is tacked on to consumers' phone bills, from 75 cents per line/phone to $1.25.

The agency in August hired General Dynamics Information Technology to design the new 911 system to replace an antiquated, analog-based one that it says is largely unchanged since its 1968 debut.

"Our objective is to be prepared to handle anyone's emergency," said spokesman Terrell Harris. "All situations are different. People react to emergencies differently. Kids don't even make phone calls — they text."

The next-generation 911 network, expected to be in place by June 30, 2016, has an initial startup cost of about $56 million for emergency calling equipment and new software systems, with an average projected annualized cost of about $21.5 million to support it.

The surcharge hike requires state Department of Telecommunications and Cable approval. The 75-cent surcharge has been in place since 2008.

The State 911 Department receives all of its funding from the surcharge, which generated $75 million in fiscal 2014. "This revenue is deposited into a dedicated fund to provide for the cost of the enhanced 911 program, which includes the operation of the emergency services network," Harris said. The department also provides grants to municipal and regional public safety answering points to train and maintain staff.

00.48 | 0 komentar | Read More

Electric hikes will shock poor

Organizations that rely on government aid to help pay for low-income residents' heat during the winter say the dramatic rate hikes utilities are planning could leave people in the cold.

Liz Berube, assistant director of Citizens for Citizens in Fall River, called National Grid's plan to hike rates by 37 percent "the worst news of the day."

"We're just hoping and praying the most vulnerable people — the elderly and the disabled — don't choose not to eat or fill a prescription just to cover their bill," said Berube, most of whose clients use National Grid.

Of the 17,000 people Citizens for Citizens helped with fuel last winter with the $9 million it received in federal aid and the $1 million it received from the state, she said, more than 4,000 people already have applied for help so far this year, roughly a
33 percent increase over the number of applications received by this time last year.

Action for Boston Community Development — about 60 percent of whose clients are NStar customers and the rest of whom rely primarily on oil for heat — has received more than 10,000 applications as of yesterday, about half the total number received last year, said President and CEO John J. Drew.

Since NStar has warned customers to brace for a rate increase, Drew worries that if ABCD receives about $2 million from the state and $10 million in federal aid, as it did last year, the benefits his clients will receive could be less.

00.48 | 0 komentar | Read More

'World News Tonight' anchor David Muir recalls his move from local Boston news

David Muir recently took over the chair at ABC's "World News Tonight," joining the elite club of evening news anchors -- at an age, 40, that is decidedly younger than the rest. He was first noticed in Variety back in July 2003, when he left a gig as a reporter at Boston's WCVB TV to anchor ABC's overnight broadcast.

What was working at WCVB like?

I felt like the luckiest kid in the world when I landed that job. Anyone who knows the industry (there) will remember the anchor team of Chet Curtis and Natalie Jacobson. They were really known for their sign-on as "Chet and Nat." Their standards were extraordinarily high … I remember my first live report, and you do your return, "Chet and Nat, back to you." I felt so good, and then a moment later thought, "Was that too presumptuous to send it back to them in that tone?" When I got to the newsroom, I went to Natalie and I said, "Was that OK?" She looked at me. "Of course, you're part of the team."

Were you aware of your first mention in Variety?

I try not to look at much coverage about me in this job. I try to keep my head down. But I'm honored it was covered.

Was life as hectic for you then as it must be for you now?

It was a different kind of hectic. At that time, Boston was one of the greatest markets to cover. Viewers wanted information on politics, but also the Red Sox and the Patriots. Snowstorms were outsized, too. It was a great training ground.

How did it feel when you got the call to go to a national network?

Network news was always my dream, but it wasn't as though I planned on it happening that quickly. There were a couple of calls of interest, and I felt privileged to have had those calls.

What did it take to adjust to life in New York City?

A Metrocard. I still use it after the show is over. Couldn't live without it.

Did you ever imagine anchoring an evening newscast was in your future?

Oh, no. I did grow up as a 12-year-old boy in upstate New York who would, playing at the end of the day, excuse myself from the backyard to go and watch the evening news. Peter Jennings was my choice, and I even remember then thinking that this guy is the James Bond of the evening news. I never dreamed I would be sitting in his chair one day. I still don't think it has set in.

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

00.48 | 0 komentar | Read More

Massachusetts electric rates shoot up 37 percent

BOSTON — Many Massachusetts households are going to see their electric bills shoot up 37 percent this winter, a rate increase that some advocates fear will put additional strain on low-income families.

State regulators approved the increase for National Grid household customers that would mean an average of $33 per month more for the typical residential customer and would push a typical monthly bill higher than $150.

Large-business customers will see even higher increases.

National Grid has almost 1.3 million residential and business electric customers in Massachusetts. The new rates take effect in November.

"This is pretty bad, and it's going to really have a bearing on a lot of Massachusetts households' abilities to just make ends meet this winter," John Howat, senior energy analyst at the National Consumer Law Center in Boston, told The Boston Globe.

The utility blame the rate hikes on the cost of buying electricity from power plants, which has soared because of an increased demand for natural gas used to generate electricity.

"This is something that's not within National Grid's control," spokesman Jake Navarro said. "This is a market-based problem."

The rate hikes will also hurt businesses.

"It's a very difficult thing, particularly for small businesses at a time when they're already struggling with the highest health care costs in the country and soon to be highest minimum wage," Jon Hurst, president of the Retailers Association of Massachusetts, told the Boston Herald. "All these things are required costs of doing business, and it's very difficult to be profitable."

NStar, with more than 1.1 million customers in the state, and Western Massachusetts Electric Co., with about 213,000 customers, also expect to seek rate increases, a spokesman said.

Those companies, both owned by Northeast Utilities, won't file their winter rate requests until later this fall.

00.48 | 0 komentar | Read More