A roundup of Massachusetts business news.
Tax credit spurred home buying flurry
Low interest rates and the potential expiration of an $8,000 tax credit for first-time buyers sparked a flurry of home buying in October, with single-family home sales rising by 17 percent in Massachusetts from the same month a year ago. Prices continued to decline, although the depreciation is moderating, with the state's median price falling 2.8 percent to $277,000. Real estate agents hope the buying trend will continue now that Congress has extended the tax credit.
New bid to expand Boston Convention & Exhibition Center
State and city leaders unveiled a new effort to expand the Boston Convention & Exhibition Center. Since opening in 2004, the BCEC has certainly spurred some development on the South Boston waterfront. But city officials believe expanding the BCEC's meeting space and adding another hotel will help pick up the pace of development by drawing more visitors to the area.
Brigham's eateries face hard times
Fans of Brigham's restaurants have watched the financial troubles at the chain lead to widespread restaurant closures. A principal at Deal Metrics, the Maryland private equity firm that bought the Brigham's chain last year, said the chain needs to file for bankruptcy because the recession has taken a bite out of the restaurant industry. Some independently owned Brigham's restaurants remain open, and HP Hood continues to make Brigham's ice cream.
SEMASS owner faces NLRB sanctions
A battle between a union and the owner of the SEMASS incinerator in Rochester is heating up now that the National Labor Relations Board has decided to pursue the power plant company in federal court. The labor agency is preparing an injunction request aimed at restoring pay raises for nearly 140 members of the Utility Workers Union of America Local 369 who work at the plant. The labor agency argues that Covanta Energy put Local 369 at an unfair disadvantage in contract talks by taking away workers' raises this year.
The Patriot Ledger