MassPort to give update on stalled E. Boston project

Massachusetts Port Authority officials are scheduled to give East Boston residents an update tonight on the troubled East Pier residential and retail project, which got underway this year on the waterfront. Roseland Property Co. and its partner, Lennar Urban Northeast, planned a seven-building, $275 million, 550-unit luxury condo and apartment complex for a 13-acre site at Pier One, but high construction costs and a spotty residential market have caused the developers to reevaluate their options, said Lowell L. Richards III, chief development officer for Massport. "Roseland still desires to proceed with the project," he said, but construction ceased about a week ago. The developer has also made a commitment to build a second phase of the popular nearby public space, Piers Park. (Thomas C. Palmer Jr.)

Michael W. Metzler , president of St. Anne's Hospital in Fall River, will resign effective Oct. 1. He has been president of St. Anne's for nine years and before that held a series of senior administrative jobs at Caritas Christi Health System , the hospital chain run by the Archdiocese of Boston. The resignation widens Caritas Christi's leadership gap: Both the chain and St. Elizabeth's Medical Center in Boston, its flagship hospital, are searching for chief executives. A deal under which Ascension Health would take over the Caritas chain fell apart last month. (Jeffrey Krasner)

Iron Mountain Inc., the world's largest seller of record-management services, is expanding into Greece by acquiring a minority stake in SafeDoc. SafeDoc, an Athens-based provider of document bar codes, tracking, and storage, will operate as a joint venture with Boston-based Iron Mountain. Iron Mountain, with operations in 36 countries on five continents, will hold options to acquire more SafeDoc shares in the next five years. (Bloomberg)

Multimedia software developer Avid Technology Inc. said David Krall will resign as chief executive, president, and board member at the end of July. Board member and former chairwoman Nancy Hawthorne will serve as interim CEO. The Tewksbury company also reaffirmed second-quarter guidance for adjusted earnings of 15 to 20 cents a share on sales of $220 million to $230 million. Analysts polled by Thomson Financial predicted earnings of 15 cents a share on sales of $223.1 million. (AP)

Pennichuck Corp., a Merrimack, N.H., water utility and real estate holding company, said six months of talks failed to resolve a dispute with Nashua officials seeking control of the company's water utility there. Pennichuck has been locked in a disagreement with city officials, who are seeking state approval to acquire all or a significant portion of Pennichuck Water Works Inc., which provides water to Nashua and other municipalities in Southern New Hampshire. In January, eminent domain proceedings were postponed for 120 days as the two sides discussed a potential settlement, Pennichuck said. Those talks were extended, but failed to reach a resolution, the company said. Pennichuck said it expects eminent domain proceedings to resume later this year before the New Hampshire Public Utilities Commission. (AP)

The town of Milton, Mass., ranked seventh on a list of "America's Best Places to Live" compiled by Money magazine. Hanover, N.H., placed second. The magazine said its editors looked at such criteria as economic vitality, job availability, safety, racial and ethnic diversity, and cultural amenities. Middleton, Wis., topped the list. Other communities were Louisville, Colo., (3); Lake Mary, Fla., (4); and Claremont, Calif., (5). (Chris Reidy)

THE NATION

Macy's Inc., the second-largest US department store chain, replaced the president of its home goods division as sales at former May Department Stores Co. locations failed to meet company expectations. John Harper was named president and chief operating officer of the New York-based division, effective Aug. 6, replacing Michael Osborn, Macy's said. Harper will report to unit chairman Timothy Adams. Harper is currently vice chairman of Macy's Midwest division. Osborn, who had held the post for almost two years, will retire Aug. 3, Macy's said. (Bloomberg)

(Correction: Because of a reporting error, a story in last Tuesday's Business section about the status of executive searches at local hospitals incorrectly reported that Caritas St. Elizabeth's Medical Center is searching for a chief executive. St. Elizabeth's named Christopher M. O'Connor president in September.)