Arthur Caparell would love to be riding the stock market’s recent resurgence, but he’s still trying to recover from the recession’s blows.
The burly 57-year-old machinist watched his retirement savings wither and then, last March, he was laid off. He depleted his savings to get by, and now, with no money left to invest, he is watching the stock market rise with no hope of recouping his loss.
“Now is the time to invest,’’ said Caparell, who has picked up hours working at his girlfriend’s Roslindale flower shop. “But I’m more concerned about taking care of bills than with stocks.’’
Money will be hard to come by for venture capitalists next year as they struggle to lure skittish investors whose portfolios are still recovering from the recession.
“There will be fewer firms, fewer venture capitalists, by this time next year,’’ said Michael Greeley, a general partner with the Boston venture capital firm Flybridge Capital Partners. “Marginal venture firms will definitely be leaving the market.’’
Former venture capitalist Howard Anderson looks toward 2010 and thinks of a line from “The Lion King’’: “Not everyone invited will be coming back from lunch.’’
LogMeIn Inc., a Woburn software company that raised $106 million by going public less than five months ago, was back in the stock market last week to sell more shares.
Why? Because it could, for one thing. The public market ate up more than 3.1 million shares of LogMeIn without a burp last Thursday. Nearly all the shares were offered not by the company but by its venture capital backers and other insiders. Total take: $58 million.
Most companies that sell additional shares so soon after their initial public offering represent one of two extremes, businesses that are hotter than a pistol or burning through so much cash they must ask for more. LogMeIn is neither, and that says something encouraging about the market for all kinds of Massachusetts companies in search of funding.
It may not seem like the best time to talk about a massive expansion for the Boston Convention & Exhibition Center.
The economic downturn has pummeled the convention industry for the past two years. The size, the number of exhibitors, and attendance have fallen in nearly every quarter, according to the industry publication Tradeshow Week.
But the convention business has fared better in Boston than in the nation as a whole, as the medical and life science sectors, which account for about a third of the convention business in the city, have stayed relatively strong compared to other industries during the economic downturn.
In the age of swine flu, Greyhound bus drivers have a lot more to think about than driving the bus.
Each driver now goes through training to assess passengers who look sick, asking them: “Are you running a fever? Do you feel achy?’’ Buses are also now equipped with vinyl gloves and a respirator mask in case drivers have to interact with a passenger who becomes ill.
Millions of Americans will be boarding planes, buses, and trains this week to visit friends and relatives for Thanksgiving, and this year riding in enclosed spaces with other people comes with a new worry: Does the person coughing in the seat next to me have the H1N1 virus?
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