Worcester Business Journal

6 Worcester Business Journal • May 25, 2015 www.wbjournal.com revenue and profit increases were smaller, but still up 13.4 percent and 15 percent, respectively. Revenue was $126 million and net income $11.55 million. PEPPERELL — A Pepperell firm is one of eight across Massachusetts to receive grants from the Baker administration toward training in workplace safety and health. Masy Systems, which provides validation, calibration and biorepository storage at controlled temperatures, will receive $12,337 as part of more than $100,000 in grants that will train 552 workers in preventing workplace injuries, illnesses and deaths, according to a statement from the state's Executive Office of Labor and Workforce Development. Seven other companies received money. FRAMINGHAM — The market for 3D printers is poised to take a "major step forward" as more companies begin to use them and the technology improves, according to new survey findings from technology research firm IDC, of Framingham. IDC reported that 90 percent of respondents at companies that use 3D printing are "very satisfied" with them as they see the business benefits of using the devices. Manufacturers and ver y large companies represent the most promising markets for sales, but new pockets of opportunity will continue to emerge, IDC said. Compliance with new provisions of the Affordable Care Act were cited as factors in the first-quarter losses reported by four major Massachusetts health insurers. Blue Cross Blue Shield of Massachusetts, Harvard Pilgrim Health Plan, Tufts Health Plan and Fallon Health all reported operating losses in the first quarter: Blue Cross, the state's largest insurer, incurred an operating loss of $73.1 million, and a net loss of $41.8 million; Harvard Pilgrim, the second largest, lost $19.6 million and $17.6 million, respectively; Tufts, the third largest insurer, lost $24.2 million and $19.9 million, while Worcester-based Fallon reported an operating loss of $6.6 million and a net loss of $4.2 million. Massachusetts businesses worried about running afoul of the new ballot law guaranteeing compensated sick time are applauding a regulation they say will give some companies "breathing room" to comply with the new statute. Attorney General Maura Healey's aides said that the "safe harbor" provision will address some concerns by businesses about implementation while ensuring the law still takes effect on July 1 for 1 million workers who lack access to paid or unpaid earned sick time. The provision calls for a transition period for employers with existing paid-time-off policies. (State House News Service) Telecommunications giant Verizon Communications said it's buying AOL Inc., one of the earliest Internet service providers, for about $4.4 billion, or $50 a share. Lowell McAdam, Verizon's chairman and CEO, said the deal "supports our strategy to provide a cross- screen connection for consumers, creators and advertisers," touching the wireless and video platforms, as well as the evolving Internet of Things. The Verizon statement lists AOL's key assets as its subscription business; its portfolio of global content brands, including The Huffington Post, as well as its millennial- focused "over the top" video (OTT). The number of single-family homes placed under agreement last month rose 30 percent over April 2014, the Massachusetts Association of Realtors (MAR) reported. It was the 25th time >> Continued from previous page REGIONAL BRIEFS 385 South St., Shrewsbury, MA 01545 Chris@ProvoFinancial.com 508.842.0539 Office 508.842.0571 Fax 508.294.2004 Cell www.ProvoFinancial.com Securities offered through LPL Financial, member FINRA/SIPC. Investment Advice offered through Provo Wealth Management Group, a registered investment advisor. Provo Financial Services, Inc. and Provo Wealth Management Group are separate entities from LPL Financial. Provo Financial Services, Inc. voted best Financial Planning/ Investment Services Firm in central Massachusetts based on The Worcester Business Journal online polling. Awards W o r ce s t e r B us i n e s s J o u r n a l 2015 B E S T O F B U S I N E S S W o r ce s t e r B us i n e s s J o u r n a l 1992 - 2015 Celebrating 23 Years of Innovation Wealth Management is not only about where your money should go, but also where your money can take you. Christopher P. Provo RFC, CRPC ® President/CEO Do you know where your money is going? How would your donors and employees feel if they knew your endowment and your 403(b) plan invests in companies that CAUSE the problem your mission is trying to ELIMINATE? FOUNDATIONS What's In Your Endowment? 403(b) Plan? Transparent, Responsible Investing Does Not Always Require Giving Up A Competitive Rate of Return. To obtain a free foundation transparency test, or learn more about how you can align your investment choices with your mission, go to www.DonorTruth.com or email us at info@retirementplantruth.com. 4 When engaging in socially responsible investing strategies, the return may be lower than if the money manager or adviser made decisions based solely on investment considerations. No strategy assures success or protects against loss. Preferred Mutual Insurance Company One Preferred Way, New Berlin, NY 13411 www.preferredmutual.com It's the confidence you feel when the expertise of an agent meets the guarantee of a quality product. It's liberating; it's refreshing; it's Living Assured. Scan our QR Code to check out our list of products and services. The assurance your business needs to succeed. That's Preferred. Source: UMass Donahue Institute Federal contracts for Mass.: Going down After peaking in federal fiscal year 2011, the value of federal government contracts to Massachusetts firms fell through fiscal 2014 .(Oct. 1, 2013 to Sept. 30, 2014). 0 $5 $10 $15 $20 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 $6.17 $7.51 $10.13 $12.22 $16.53 $18.05 $17.41 $16.37 $14.46 $18.97 Value of federal contracts by fiscal year In billions of dollars $18.93 >> Continued on next page

• Cover