What a week, right? Before slipping into relaxation mode, please check out the latest from Jon Chesto, plus a recap of the top stories for Friday, Jan. 27.
Chesto Means Business
The project has become a bit of a legend around Boston, ever since it was first scrapped in the 1980s during planning for the Big Dig. Connecting North and South stations, a little more than a mile apart, sounds sensible on its face. But these kinds of projects are often more complex than they seem — and usually more expensive.
The Baker administration is embarking on a study, one that will cost up to $2 million, to evaluate the benefits and costs. Stephanie Pollack, Charlie Baker’s transportation secretary, huddled with Rail Link supporters last week to discuss parameters before the study goes out to bid in the coming weeks.
Baker would prefer to focus on a competing project, the South Station expansion, and on badly needed upgrades to existing infrastructure. But Pollack and her team seem to be giving this analysis a good faith effort.
Representative Seth Moulton has emerged as an important voice of support, and former Governor Mike Dukakis remains a driving force. Nearly all of Boston’s city councilors endorse the project now, proponents say, as do a number of mayors.
But the Rail Link remains a long shot until the power brokers on Beacon Hill and Moulton’s colleagues in Congress climb on board. That’s why this report is important to the project’s future, and why supporters know they’ve got to get it right.
Market Wrap
Executive Summary
The Globe’s Priyanka Dayal McCluskey reports Partners HealthCare is acquiring specialty hospital Massachusetts Eye and Ear. Chief Executive John Fernandez announced the deal in an e-mail Friday morning to employees at Mass. Eye and Ear.
The deal adds to Partners large and prestigious network of hospitals and doctors, which includes Massachusetts General Hospital. Mass. Eye and Ear already had affiliations with the Partners group.
The Globe’s Beth Healy reports Joseph Meli and Matthew Harriton raised about $81 million from at least 125 investors in 13 states. Among the allegations outlined in the complaint filed in New York is that the men told investors the money would be used to buy and resell tickets to high-profile concerts and events, including Hamilton, Broadway’s hottest ticket.
The alleged scheme was investigated by the Boston office of the Securities and Exchange Commission.
The Globe’s Curt Woodward reports Jounce Therapeutics, a Cambridge company that develops drugs that spur a patient’s immune system to attack tumors, raised nearly $102 million in a sale Thursday night.
Jounce priced the deal at $16 a share, above the $13 to $15 range the company had projected. On Friday, the stock gained 7.8 percent to $17.25.
Meanwhile, the Globe’s Robert Weisman has an interesting piece on why so many local biotechs are getting swallowed up by larger companies.
The Globe’s Deirdre Fernandes reports that the state’s low unemployment rate of 2.8 percent is making it difficult for employers to find workers to fill vacant positions. Experts say the end of year slowdown could also be the result of companies holding off on issuing bonuses until after President Donald Trump took office and has a chance to push through a tax cut.
It remains to be seen whether this is a “real slowdown” or a “temporary blip,” says Alan Clayton-Matthews, an economics professor at Northeastern University.
The Globe’s Adam Vaccaro writes there has been a bit of a turf war between the two cities over a plan by New Bedford Chamber of Commerce to change its name to South Coast Chamber of Commerce. Fall River officials cried foul saying it overstates the Whaling City’s influence in the region.
Not so fast. Fall River is now renaming its chamber to Bristol County Chamber of Commerce, a moniker that is also more regional.
Trending pick
Line Items
Slow growth for US:
Economy slumps in fourth quarter -- Wall Street Journal
US, Mexico mending fences:
Presidents talk after clash over wall -- New York Times
Starbucks has coffee breakdown:
Mobile orders cause chaos, market reacts -- Business Insider
They shared dinner and a vision:
Uber, Airbnb CEOs traded ideas -- Quartz
ICYMI
This week, when Trump tweeted about green lighting two pipelines, shares of a contractor involved in one of them rose. On the flip side, when he criticized the price of fighter jets, shares in Lockheed Martin took a nosedive.
That has fund managers like Raman Srivastava of Standish Mellon signing up for Twitter, while others like Michael Trotsky of the state pension fund are holding out.
There’s even an app for following the ups and downs of the nation’s “tweeter-in-chief.” Trigger, the financial app, has added Trump Triggers for investors who want to keep a watchful eye.
Now, if you’ll excuse us, we have to go check our Twitter feed.
The Talking Points newsletter is compiled by George Brennan. Follow George on Twitter at @gpb227. If you liked what you’ve read, please tell your friends tosign up.