It wasn’t so long ago that biotech was thought to be the future of the Massachusetts economy, but grim financial news has hit the industry hard. According to story in today’s Globe, funding for biotech has dropped 54 percent from 2007 and small and mid-sized companies are aggressively downsizing.

The crunch hits developing companies hardest, as those with product already on the market will probably be able to withstand the tumult. A couple of interesting takeaways from the story, however. (more…)

In the November issue of Boston magazine, Tom Matlack wrote about “Q,” a microbe discovered in the Quabbin Reservoir that produces pure ethanol from plant waste. As the future of American automakers looks increasingly bleak and interest in alternative fuel technologies continues to grow, this super-efficient little microbe could soon become a big player.

Today, the company that’s been researching Q got a big infusion of funding and a new name.

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We love our friends at the Cambridge Chronicle, but they’re breaking our hearts with their report that Harvard Square’s venerable newsstand, Out of Town News, is going to close.

The lease is up at the end of November, but the city has worked out a temporary lease until the end of January so the building’s owner can put out a bid for a new business. There’s talk of setting up a bike rental service in the building, which is nice. We guess.

But what about our needs?  Where will we pick up exotic newspapers or the latest French Vogue now?

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Embattled state senator Dianne Wilkerson is giving the Boston Licensing Board a headache that rivals any we’ve ever had. As Wilkerson slowly prepares to leave the senate, the focus is slowly shifting to the Boston Licensing Board, which she reportedly described in the FBI complaint as an agency that does business with “smoke and mirrors.”

Former city council candidate Kevin McCrea wants Suffolk County District Attorney Dan Conley to investigate whether or not the agency violated open meeting laws by not allowing Dejavu a hearing.

It looks like Conley has obliged, requesting documents from Board chairman Dan Pokaski.

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We did a cartoon double-take, complete with bulging eyes and comical AWOOGAH! sound effect, when we read this stunning statistic in the Boston Business Journal.

The [Globe] told its unions it was losing close to $1 million a week as recently as this summer.

One million dollars. A week. That’s a loss of $142,857.14 a day, or nearly $100 per minute.

Ouch.

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If you’ve been waiting to see if you still have a job in mid-December before you start buying Christmas presents, you may wish to reconsider. Boston.com reports that the owner of three local shopping meccas is in deep financial trouble. (more…)

Talk about timing. A day before the Boston Public Health Commission was scheduled to approve or reject Mayor Tom Menino’s proposal to limit the sale of cigarettes and shutter cigar bars, a study by the State Department of Public Health found that the number of fatal heart attacks in Massachusetts has dropped precipitously since the state banned smoking in bars and restaurants.

Does this seem a little off to anyone else?

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If we’ve learned anything from the presidency of George W. Bush, it’s that waging a multi-front war can be dangerous. Which is why we’re worried about Dunkin’ Donuts.

The Canton-based coffee chain, which has recently decided to do battle with Krispy Kreme on its home turf in the South, has now turned its sights toward Seattle. Dunkin has fired the first shot, kicking off a new ad campaign that celebrates a taste-test in which coffee drinkers preferred its brew to Starbucks’.

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In the June 2008 issue of Boston magazine, we told you about Bart Steele, the Chelsea musician who believes Jersey rockers Bon Jovi stole his song “Man, I Really Love This Team” and released it as “I Love This Town,” which was used in TV spots for baseball’s playoffs.

Today’s Herald reports that Steele is suing Bon Jovi for $400 billion. Yes, that’s billion. With a “B.” Surely that must a typo.

“Actually, they owe me more than that,” Steele tells Boston Daily.

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It’s a beautiful day in America, no? Public money continues to rain down like manna from heaven on Wall Street (yay, capitalism!) now aiding $2 trillion of once-ironclad money market funds. Thankfully, John McCain has found the solution: fire SEC Commission Chairman Chris Cox. Problem is, he can’t.

Still, stronger regulation of financial company excess is on order in Washington these days, and the next president might look to bring a man like Secretary of the Commonwealth William Galvin into the administration. His ballyhooed recent settlements with the likes of Merrill Lynch, UBS and Bank of America have made him a national figure of strength second only to hockey moms, and some people are already talking about his future in D.C. (more…)