Worcester Business Journal

wbjournal.com | October 28, 2024 | Worcester Business Journal 17 35th Anniversary WBJ 2002 • Spag's? Sold! – About six years after the death of Anthony "Spag" Borgatti, his daughters sold the iconic Shrewsbury discount retail destination to Building 19, which renamed the store Spag's 19. It would become Building 19 in 2004 before closing for good in 2013. Opened as Shrewsbury Battery & Tire Service in 1934, the store didn't accept credit cards until 1992, offer plastic shopping bags until 1996 – "No bags at Spag's" – or shopping carts until 1998. • Abbott ascends with approval – On New Year's Eve day, the Food and Drug Administration announced it had approved Abbott Laboratories' new rheumatoid arthritis drug Humi- ra, which was developed and man- ufactured at the Abbott Bioresearch Center in Worcester. Now owned by Abbott spinoff AbbVie, Humira has long been among the top-selling drugs in the world. 2003 • Chamber changes – The Corridor Nine Area Chamber of Commerce dissolved its 24-year affiliation with the Worcester Regional chamber. The Westborough-based group chose to align with the 495/MetroW- est Corridor Partnership, affording area business leaders "a larger voice in a region that has more common goals," according to Corridor Nine President Nancy Carlson. • Boss, a supernova – In an enormously consequential development for not only the company but the city of Worcester, Allmerica Property & Ca- sualty hired Frederick H. Eppinger away from The Hartford, naming him president, CEO and director in September. As recently as the third quarter of 2001, Allmerica had reported a pre-tax operating loss of $534.5 million. 2004 • Tenet sells Saint Vincent Hospital – It might be easy to forget that Tenet Healthcare Corp. wasn't always the owner of Saint Vincent Hospital. In October, Vanguard Healthcare Systems agreed to buy St. V's and the Framingham and Natick campuses of MetroWest Medical Center for $126.7 million from the flagging Tenet, which was embroiled in a Medicare billing scandal. Tenet emerged from financial difficulties and acquired Vanguard in 2013 for $4.3 billion. • Going-out-of-business sale – A decade after the Worcester Center Galleria was relaunched as the Worcester Common (Fashion) Outlets, the sprawling 32-year-old downtown mall was sold for about $30.4 million. Under pressure from then-Mayor Timothy P. Murray Cigna Investments sold the near-empty retail space and parking garage to Berkeley Investments. 2005 • Tornadoes whip up winning de- but – After 71 years without a minor league baseball team, Worcester hosted a championship celebration on Sept. 15, when the Worcester Tornadoes topped the Quebec Capitales to win the Can-Am League championship in their inaugural season. The Tornadoes folded due to financial difficulties in 2012. 2006 • Bristol-Myers holds down the (former) fort – In the wake of Procter & Gamble downsizing its Devens presence, Bristol-Myers Squibb announced plans in June to build a $1.1 billion manufacturing facility at the former Army base. The 750,000-square-foot facility would sit on 80 acres and house 550 new employees. • Sharks, thanks – About a year after the NHL's St. Louis Blues announced they would be selling their AHL affiliate Worcester IceCats, Continued on next page

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