News

Riverstone Networks says it plans to sell off its assets for $170 million to Lucent Technologies as part of a Chapter 11 bankruptcy reorganization, the company announced Tuesday afternoon. Both companies said they hope that the deal can be finalized…

Tom Walsh, founder of Ocean Properties Limited, will be honored for his achievements in and contributions to the hospitality management industry when he is given the University of New Hampshire’s inaugural Hotelier of the Year Award next month. Established in…

The 2006 Eastern Region Malcolm Baldrige Awards Conference for the eastern region will be held September 21 at the Sheraton Nashua Hotel in Nashua. Senior leaders and other representatives of award recipient organizations in health care, education and business will…

Shopping mall operator Simon Property Group Inc. on Monday said its funds from operations - or FFO, a key real estate measure - rose 9 percent in the last quarter, helped by increased occupancy and rental income. The company posted…

What started out as a bill to crack down on home improvement contractors has morphed into a bill that could allow contractors to press charges against unscrupulous homeowners. The state Senate last week amended House Bill 177, which was originally…

White Mountains Insurance Group is hiring California-based consultant Thompson Hutton to be chief executive officer and president of the company’s major reassurance subsidiary, White Mountains Re Group. Hutton will be taking over the subsidiary from Steve Fass, who serves as…

The town of Pittsfield made its case at a state Public Utilities Commission hearing last week to keep a subsidiary of Pennichuck Corporation from taking over three private water systems in other areas of the state for $750,000. Pittsfield Aqueduct,…

Hampton-based electric utility Unitil Corp. released its 2005 year-end earnings with an increase over 2004 earnings. In 2005, the company earned $8.4 million, or 4.8 percent, over 2004 full-year earnings of $8 million. Earnings per share rose to $1.51 for…

Plans to sell the Bellows Falls, Vt.-based Internet service provider SoVerNet to Atlantic Tele-Network for $12 million have been approved by the Vermont Public Service Board. While Vermont is its core market, SoVerNet provides dial-up service to much of New…

If you took out a mortgage from Ameriquest Mortgage Company during the past six years, you may be entitled to a piece of a $325 million national settlement over the sub-prime lender’s alleged predatory lending practices. The settlement was announced…