Million-dollar teardowns | Boston's nightlife czar | Golden parachutes
Boston Business Journal
The Boston region's source for local business news & events. Part of the American City Business Journals network.
Welcome back to the BBJ's LinkedIn Weekly Edition! I'm Digital Editor?Jess Aloe , bringing you the top business stories from this week, plus what's going on in Boston's tech economy.?This week...
Million-dollar teardowns
In many of the area’s wealthiest pockets, what were already spacious homes are being increasingly knocked down for homes many times larger.
As many households are being squeezed out of the region, homeowners with exceptionally deep pockets are able to take advantage of smaller homes they have little interest in inhabiting.?
Such teardowns are happening in wealthy communities across the Boston area, according to a Boston Business Journal review of more than 2,000 residential demolition permits.
The Business Journal’s review shows that the area’s booming wealth has dramatically transformed not just parts of the Boston skyline — such as new luxury towers in Back Bay, downtown or the Seaport — but also residential neighborhoods outside the city.?
? ? ??
Nominations are about to close for this year's Best Places to Work event, so if you work at one of the best companies in Boston, be sure to nominate your company! The deadline has been extended through the weekend, so be sure to nominate your company today by Feb. 26.
? ? ??
Meet the woman tasked with making Boston fun
Boston has hired a leader to improve the city’s social scene — a position informally dubbed the “late-night czar.” Corean Reynolds will serve as Boston’s new director of nightlife economy.
“Her goal will be to focus on the macro-level on how we create long-term solutions to have a more vibrant and sustainable nightlife here in the city, and how we're redefining nightlife to be something that's more than clubs and more than restaurants and bars," Segun Idowu ,? Boston’s chief of economic opportunity and inclusion, said. Read more.
? ? ??
Duck Creek execs get golden parachutes
In connection with the company's planned $2.6 billion sale to private-equity firm Vista Equity Partners , Duck Creek Technologies CEO Michael Jackowski is slated to get about $11.4 million in total compensation — just under his CFO's and COO's combined "golden parachute" payments, according to newly filed securities documents.
领英推荐
? ? ??
Nonprofits preparing for ‘rainy day’ ahead
Nonprofits were hit hard by the pandemic. Now, nonprofits are bracing themselves for a new economic challenge on the horizon: getting ready to weather drops in their funding as corporate and individual givers rethink their charitable budgets in the face of economic uncertainty.?
Meera Raman has the details here about how nonprofits are preparing for a rainy day.??
? ? ??
Starry files for Chapter 11
Starry Inc. filed for Chapter 11 bankruptcy protection this week and has proposed a restructuring agreement with lenders holding its debt — a move that will allow the Boston internet provider to reorganize its troubled business or look for a bidder while continuing to operate. Learn more here.?
? ? ??
Motherboards and molecules — this week in Boston's tech economy:
Amid a spate of layoffs in the tech industry, Tripadvisor grew its headcount by 15% last year. Read more.
Wayfair stock plummeted after the company reported yet another quarterly loss and gave mixed messages about its return to profitability. Get the details.
Blood disorder startup Hemab Therapeutics raised $135 million in a Series B round. Find out more about the company's plans here.
Moderna is expecting sales of its Covid-19 vaccine to fall precipitously this year. Here's what the company had to say about the dwindling vaccine market.
Want all the latest news from Boston's busy tech and biotech sectors??Subscribe to our TechFlash and BioFlash newsletters.