Worcester Business Journal

6 Worcester Business Journal • October 26, 2015 www.wbjournal.com Sturbridge to relocate there from 128 Main St. in Sturbridge. The Worcester human services agency plans to occupy the 9,500-square-foot office space at the front of the building, according to a state- ment from Kelleher & Sadowsky Associates of Worcester, which brokered the sale. The remaining 13,250 square feet of warehouse space is leased to Mole Hollow Candle Manufacturing. FRAMINGHAM — The Federal Trade Commission (FTC) is taking more time to issue its decision on Staples' pro- posed purchase of Office Depot, delaying its ruling for nearly two months. The REGIONAL BRIEFS >> Continued from Page 4 Source: Source: U.S. Department of Education The U.S. Department of Education said the three-year federal student loan cohort default rate declined to 11.8 percent for students who entered repayment in fiscal 2012 and defaulted between 2012-2014, down from 13.7 percent for fiscal 2011. Higher education default rates FTC's ruling on the $6.3-billion transac- tion now will be issued by Dec. 8, Framingham-based Staples said in a joint statement with Florida-based Office Depot. The two office supply companies mutually agreed with the FTC to extend the review period for the Office Depot acquisition. Regulators in Australia, New Zealand and China approved the trans- action. Gov. Charlie Baker said the administra- tion is looking into the scope of possible studies it could commission on the pro- posed North-South Rail Link, a project that Baker has voiced skepticism about. A 2014 transportation bond bill included language directing the administration to study the route of a proposed rail corri- dor linking North and South stations, which proponents say would pay divi- dends for the whole commuter rail sys- tem. The bond bill authorizes $2 million for updates to the draft environmental impact statement and the draft environ- mental impact report. Citing reports of rate hikes and canceled policies following last winter's storms, Massachusetts Senate leaders continue to mull changes in homeowners' insur- ance regulation geared towards more transparency. "From our perspective the problem is a lack of notice and lack of justification and explanation that makes sense to the consumers with regard to the size of the increases and now the actual loss of coverage as a result of filing and being paid for claims," Senate President Stanley Rosenberg told reporters. The Senate Post Audit and Oversight Committee held a lengthy hearing on the issue on Sept. 22 where state insurance regulators said they were aware of no public hearings on rate increase filings from insurers since 1991 and said the Division of Insurance also does not noti- fy anyone except its own staff of details of rate increase filings. The division this year approved an 8.9 percent rate hike for Mapfre USA Corp., 9.1 percent for Safety Insurance, and 7.7 percent for Bunker Hill Insurance. Gov. Charlie Baker outlined plans to use underutilized state properties for open space, economic development and hous- ing purposes, touting his plans as a way to generate new tax revenues. The administration says it already identified 40 parcels ready for solicitations for pro- posals, including "high- value proper- ties" in Boston ready for retail and hous- ing, parcels in Northampton ready for redevelopment, and parcels near high- ways in Plymouth, Carver and Taunton. The majority of small businesses nation- ally are not concerned about medical marijuana when it comes to their employees, and 1 in 5 would allow medi- cal use on site, according to a survey by Employers Holdings insurance. The vast majority of employers (81 percent) said they were unconcerned that their employees would come to work under the influence of marijuana now that it is legal in more states, according to the survey. Building off laws requiring health insur- ers to cover mental health treatment the same way as physical ailments, a leg- islative push is now underway to extend Clark University 3.6% 2.3% Worcester Polytechnic Institute 3.7% 2.2% Fitchburg State University 7.8% 5.8% Worcester State University 5.8% 5.9% Assumption College 3.5% 3.1% College of the Holy Cross 1.9% 2.5% Anna Maria College 10.0% 12.3% Mount Wachusett Community College 17.9% 10.8% Becker College 14.9% 12.3% Salter College 11.7% 15.9% Framingham State University 6.0% 5.0% Greenfield Community College 22.0% 15.4% Quinsigamond Community College 15.4% 11.2% UMass Medical Center 0.6% 0.6% 2011 2012 default rate default rate Way t o go Sue! Susan A. Gunnell Executive Vice President & Chief Operating Officer Congratulations on receiving the Worcester Business Journal's Outstanding Women in Business Award. www.southbridgesavingsbank.com We're proud to have the Worcester Business Journal recognize Susan Gunnell for her achievements and positive contributions to the Central Massachusetts business community. Knowledge + Experience + Trusted Advice. It all adds up. Large enough to serve the needs of most businesses and individuals; small enough to offer the personal attention you expect and deserve. Greenberg, Rosenblatt, Kull & Bitsoli, PC Certified Public Accountants 306 Main Street, Suite 400 • Worcester, MA 01608 508.791.0901 • www.grkb.com

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