SBD/18/Finance

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  • AFTER HEARING OFFERS, NEW BALANCE DECIDES TO STAY IN BOSTON

              MA-based New Balance is scheduled to announce today
         that it has decided to remain in Boston and relocate its
         headquarters and local manufacturing to a redeveloped site
         in Brighton, according to Jennifer Babson of the BOSTON
         GLOBE.  New Balance said last year it had outgrown its
         headquarters near the Allston-Brighton line and was "courted
         by cities and towns throughout New England and as far away
         as North Carolina."  As part of the new arrangement, sources
         said that New Balance will "likely" obtain some form of city
         and state tax relief (Jennifer Babson, BOSTON GLOBE, 6/18). 
          
    

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  • LYNX GOLF SAYS THAT IT MAY SEEK BANKRUPTCY PROTECTION

              CA-based Lynx Golf "disclosed that it cannot repay a
         loan and may seek federal bankruptcy protection," according
         to Bruce Bigelow of the SAN DIEGO UNION-TRIBUNE.  Lynx "laid
         off 25 full-time workers and has negotiated salary cuts with
         its senior executives."  The number of remaining employees
         was "unclear," but Bigelow notes that before relocating to
         Carlsbad, CA, last year, Lynx had 120 employees.  Lynx also
         reorganized its board of directors, saying that six members
         "had resigned."  Paul Little, a former Lynx director and
         principal with GTL Securities of Toronto, has rejoined the
         board.  Despite introducing new lines of titanium clubs last
         year, the company said that losses "widened to" $11.2M for
         the second quarter ended January 31, compared with $3.6M
         last year.  Lynx was sold last year to an investment group
         that includes actors Jack Nicholson and Clint Eastwood, and
         golfer Fred Couples is the second-largest shareholder in the
         company with a 5% interest (SAN DIEGO UNION-TRIBUNE, 6/17).
         
    

    Print | Tags: Finance, Minnesota Lynx
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