Subject: WBJ Daily: Mass. foreclosures jump 44 percent
From: "Worcester Business Journal"
Date: Wed, 24 May 2006 11:27:44 -0500
To:

Worcester Business Journal
May 24, 2006










Mass. foreclosures jump 44 percent
FRAMINGHAM - ForeclosuresMass (
www.ForeclosuresMass.com) reports April '06 foreclosures increased 44 percent in Massachusetts compared to April '05, and almost 90 percent higher than April of ?04.  The largest increases on a per-county basis were seen in Barnstable, Bristol and Suffolk counties.  The 1,227 foreclosures started in April of '06 is the second highest level ever since ForeclosuresMass started collecting data in 2003.  President and co-founder of ForeclosuresMass, Jeremy Shapiro, noted that Massachusetts homeowners are "feeling the pressures of living in one of the nation's most costly real estate markets."  ForeclosuresMass is a provider of online Massachusetts foreclosure data.

AXIS tapped by Gautier Steel 
MARLBORO - AXIS Computer Systems, Inc. (
www.axiscomp.com) announced its selection by Johnstown, PA-based Gautier Steel for its AXIOM Enterprise Management System.  Gautier, a producer of hot rolled carbon and alloy products, will use the software as the company's next generation management information system.  The AXIOM line is a system built around the operational requirements of metal producers, processors, and service centers.  The system's installation at other metal companies lead to its selection by the Pennsylvania firm, said Gautier Steel Controller Lynn Weber. AXIS Computer Systems is a provider of enterprise resource management software solutions. 

Retail giant unloads area stores
NATICK and NEW YORK - Federated Department Stores, Inc. (
www.fds.com) will sell nine department stores across the country.  Included in the deal are the Macy's store in the Natick Mall, and a Filene's men's store and main store in the Maine Mall in Portland, ME.   The sale between Federated and General Growth Properties (www.generalgrowth.com) will allow Federated to dispose of duplicate stores collected in last year's acquisition of the May Department Stores Company. Overall, Federated is looking to sell off 80 duplicate locations, and has announced that 55 of those stores have buyers lined up.  Specific terms of the deal were not disclosed, but the proceeds will be included in the $400 million to $500 million in after-tax proceeds expected to come from the sale of all duplicate locations.

UMASS opens specialized center
WORCESTER - UMASS Memorial Medical Center (
www.umassmemorial.org) will service the needs of patients with cancers of the digestive system at its new Center for Gastrointestinal Oncology (CGO), the institution announced.  The CGO is located at the Levine Cancer Center on the Memorial Campus, and will offer the expertise of specialists who can follow patients from diagnosis through treatment, and subsequent monitoring.  Treatments will span a wide variety of cancers, including the cancers of the esophagus, stomach, pancreas, liver, bile ducts, colon, rectum, and anus.  The CGO is aimed to be within the top 20 destinations for cancer care in the country, said co-director Dr. Steven R. Grossman.  The UMASS Memorial Cancer Center is a comprehensive model of cancer care, and provides cancer services to patients throughout New England. 

Area manufacturer: EPA falsified documents
NORTHBRIDGE and WASHINGTON, D.C. - James Knott, Sr., president and CEO of Northbridge-based Riverdale Mills Corp. (
www.riverdale.com) yesterday told Congress how the Environmental Protection Agency falsified documents to make a case against him.  He cited the "overzealous bureaucrats" of the EPA as being responsible for altering test results of discharges from his factory's water treatment plant, and ultimately costing him $218,000 in legal expenses that he said he was unable to recover due to limitations in the Equal Access to Justice Act (EAJA). Knott expressed a desire to see that the EAJA offer compensation for small businesses bearing the cost of defending themselves.  Knott described how the test results were manipulated to show that his treatment plant was releasing acidic compounds, and that after the EPA inspector admitted on the witness stand that the test was altered, the US Justice Dept. asked the case be dismissed.

Etnus releases latest version of debugging technology
NATICK - Etnus LLC (
www.etnus.com) began beta-testing Version 7.3 of TotalView, the company announced.  TotalView assists in the debugging of multiprocess and multithreaded HPC programs on Mac OS X, Linux, and UNIX.  The newest version of the product includes full support for the Intel Core Duo-based products from Apple, including MacBook, iMac and Mac mini.  Programmers have the capacity to interactively locate problems that otherwise would be sourced using post-mortem dumps.  The expansion of environments on which TotalView can run will allow for developers to use a proven tool, says Scott Tate, vice president of marketing for Etnus.  Etnus is a provider of debugging and analysis solutions for complex code. 

'07 City budget plans unveiled
WORCESTER - The City unveiled its FY2007 budget plans, with City Manager Michael V. O'Brien citing its fiscal soundness.  The proposed budget of $465.5 million is a 3.7 percent increase, and includes plans to negotiate wage and benefit increases of $4.55 million based on the 9.25 percent model employee contract dating back to FY2004 with the understanding that current employees will pay 20 percent of health insurance costs.  Other plans included monies for new sidewalks and streets, increased funding for public schools, and allotments for increasing energy expenses. 

Common Pathways to support Worcester's 1,000 jobs for youth initiative
WORCESTER - Common Pathways (
www.commonpathways.org) announced it has committed to support those organizations that are creating 1,000 jobs for young people this summer. By lending support to the City, the leadership council of Common Pathways aims to make sustainable, year-round jobs available for youth ages 16 to 21. Additionally, the group intends to create opportunities that pay at least the minimum wage of $6.75 an hour. The 8-week summer program looks to connect lower-income neighborhood youth with jobs in those communities, in an effort to both provide employment opportunities and forge relationships with those small and large businesses. Common Pathways' mission is to help set priorities for improving the quality of life in Worcester. Yesterday's report on Common Pathways did not specify that Common Pathways' initiative in this program is to support other agencies and entities which will create the jobs.

Submit your business news tips to Chris Oneill at coneill@wbjournal.com or 508-755-8004 x254. To advertise, call or e-mail Bonnie Leroux at bleroux@wbjournal.com or 508-755-8004 x228.

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