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Volume 24 No. 115

Finance

          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). 
      

          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).