Who was on top of the business world and who just blew in it 2013? Here’s a look at the year’s winner and losers from the local and national business scene. Next
Winner: Logan International Airport
Four new international flights were added at Logan in 2013 offering passage to Panama City, Dubai, Instanbul, and Beijing. The new routes open up important gateways to Latin America, the Middle East, and Asia.
The inaugural Copa Airlines flight 718 from Panama City, pictured, was welcomed to the airport with a traditional water cannon salute in July. Next
Winner: Wayfair LLC
The online home goods retailer based in Boston saw its sales explode from $600 million last year to nearly $1 billion in 2013, according to Business Insider.
Chief Executive Officer Niraj Shah, pictured left, has said “it makes sense” to take his company public, but the question is of when. The company has also started aggressively marketing itself directly to consumers as it positions itself for more public success.
At right, is Steve Conine, co-founder and chairman of Wayfair.
Winner: Janet Yellen
The 67-year-old Yale-trained economist is positioned to become the first woman to lead the Federal Reserve when Chairman Ben Bernanke’s term expires on Jan. 31.
A former University of California at Berkeley professor, Yellen was a Fed governor from 1994 to 1997, chairman of President Bill Clinton’s Council of Economic Advisers from 1997 to 1999, and San Francisco Fed president from 2004 to 2010. She has been the central bank’s vice chairman since 2010.
The US Senate is set to take up a vote on her nomination on Jan. 6. Next
Twitter soared during its initial public offering of stock a year after Facebook fell flat during its Wall Street debut. Twitter’s stock rose 73 percent in its first day of trading in November.
The stock has surged 76 percent this month and has nearly tripled since its IPO.
Pictured from left to right are Twitter co-founders Jack Dorsey, Biz Stone, and Evan Williams on the floor of the New York Stock Exchange during the Nov. 7 IPO. Next
Winner: Sheryl Sandberg
The chief operating officer of Facebook is considered one of the most powerful women in business. She added to her stature this year by publishing her first book, “Lean In: Women, Work and the Will to Lead.” The book inspired a movement to push women to pursue their ambitions and take on workplace challenges. Next
Winner: David Karp
The 27-year-old founder and chief executive officer at Tumblr sold his blogging platform to Yahoo for $1.1 billion.
As part of the deal, Karp received an estimated $250 million in cash and a small amount of Yahoo stock, according to Forbes. Security and Exchange Commission filings show Karp was also awarded a $10 million annual salary, plus an additional $41 million worth of stock if he stays with the company for four years. Next
Winner: Michael Dell
The Dell founder won a long-fought bidding war with activist investor Carl Icahn to complete a $25 billion deal to take the computer manufacturer private. Next
Loser: Deloitte Consulting
Deloitte Consulting delivered a new, online unemployment benefits system that was riddled with technical glitches that left some unemployed people without benefits and unable to pay bills.
The system was delivered two years late and $6 million over budget. Separately, the sate Department of Revenue fired the firm for falling behind on a $114 million tax-system overhaul mired in errors.
Company officials and stat e Secretary of Labor and Workforce Development Joanne Goldstein defended the $46 million system.
Governments in Florida, Pennsylvania, and California also ran into trouble with multimillion-dollar projects managed by the New York consulting giant, The Boston Globe reported.
Earlier this month, Florida labor officials fined Deloitte $1.5 million over numerous problems with a new unemployment benefits system it created for the state.
A federal judge ruled that Cambridge-based ReDigi infringed on copyrights controlled by record companies by reselling digital goods such as music. The decision stemmed from a lawsuit filed by Capitol Records after ReDigi launched an online platform to let people upload and resell songs that they had purchased from online retailers such as Apple’s iTunes.
The case was considered a test of whether a person who owns a copy of a copyrighted work has a right to resell it in the case of digital goods.
Pictured are ReDigi cofounders John Ossenmacher, left, and Larry Rudolph.
The company said at the time of the ruling that it was disappointed in the decision and planned to appeal.
Loser: Chinatown bus carriers
The Federal Motor Carrier Safety Administration shut down bus services offered by Fung Wah and Lucky Star over safety violations.
Lucky Star resumed operations in November after spending nearly $1 million on upgrades.
Fung Wah is still awaiting approval to get back on the road. Next
Loser: Jamie Dimon
JPMorgan Chase CEO Jamie Dimon is probably happy to see 2013 end.
The largest US bank agreed to pay $13 billion to the Justice Department for its role in the housing debacle that sparked the financial crisis.
JPMorgan Chase and banks it had acquired had misled Fannie Mae and Freddie Mac about mortgage bonds it sold them that later went belly up. The settlement represented 60 percent of JPMorgan’s 2012 net income.
In November, JP Morgan had to quickly shut down a program allowing college students to tweet questions to an executive after receiving a flood of critical tweets. Next
Losers: Fast food franchise owners
Fast food franchise owners faced revolts from their workers who staged several highly publicized nationwide strikes to try to raise awareness of their low wages. Next
BlackBerry’s decline continuted in 2013. The company posted a $4.4 billion loss in the third quarter and a 56 percent drop in revenue in its first quarterly report under new chairman and chief executive John Chen.
Despite the results, Chen said on a conference call with analysts that BlackBerry ‘‘has a really good shot’’ of turning a profit in 2016 and management will try its best to achieve the goal. Back to the beginning
Advertisement - Continue Reading Below