As it redevelops its Boston campus, Gillette launches big expansion in Andover
About 200 people work in Andover now, at the company's roughly 600,000-square-foot complex on the 150-acre property off Interstate 93; the Andover workforce will more than double once Gillette moves its manufacturing out of Boston. The corporate, design, and engineering functions will remain in South Boston, though. The transition to Andover is expected to begin in the next year or two, though it will take a decade or more to redevelop the South Boston campus. (A spokeswoman says P&G is not looking for state or local subsidies for the Andover project.)
Gary Coombe, chief executive of P&G's grooming division, said the Andover project proves that the company is investing not just in its blades and razor business but in the future of US manufacturing and in the future of Greater Boston.
Advertisement
For Lieutenant Governor Kim Driscoll, the Andover expansion shows the importance of ensuring Massachusetts remains competitive for advanced manufacturing. With the 250th anniversary of the battles against the British troops in Lexington and Concord getting celebrated in both towns this week, Driscoll made sure to drop a few Revolution references in her speech, along with a joking apology to Coombe, for going to war against his home country. (Coombe is a U.K. native.)
Advertisement
'We want to make sure that revolutionary spirit that guided us 250 years ago continues,' Driscoll said. 'Guess what? It will, on this site.'
Senator Barry Finegold of Andover also joked with Coombe, thanking him for making his favorite razor.
'I've got to take a point of personal privilege, as we say: I want to personally thank you,' the clean-shaven Finegold said. 'I'm a Fusion5 guy. Every morning, I get the blades, and also the shaving cream. So thank you for keeping me clean for all these years. I appreciate that.'
This is an installment of our weekly Bold Types column about the movers and shakers on Boston's business scene.
Jon Chesto can be reached at
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
4 hours ago
- CNBC
North American airlines targeted by cyberattacks
At least two North American airlines have been victims of criminal hackers recently as cybersecurity companies warn that a notorious cybercriminal group has been targeting the aviation industry. Westjet and Hawaii Airlines both said in June statements that they are responding to cyberattacks. American Airlines also experienced a tech issue on Friday, though it's unclear if it was related or caused in any way by hackers. "A technology issue is affecting connectivity for some of our systems and we are working with our partners to fully resolve the issue," an American Airlines spokesperson said in a statement. "Though we are experiencing delays as a result, we have not canceled any flights at this time." Cybersecurity companies that work directly with companies hit by hackers usually refrain from talking about specific victims, citing nondisclosure agreements. But both Google and Palo Alto Networks said Friday that they have observed a particularly effective cybercriminal group, nicknamed Scattered Spider by the cybersecurity industry, that tries to hack companies involved in aviation. Scattered Spider is a loosely affiliated group of young, mostly English-speaking men who are extremely adept at sweet-talking their way into sensitive computer access at large companies. From there, they often hand that access to outside cybercriminals who install ransomware — malicious software that locks up computers, rendering them inoperable — and then demand an extortion payment. The group has been tied to attacks on Las Vegas casinos in 2023 and British department stores earlier this year. After Google warned that Scattered Spider was targeting American retailers, a cyberattack hobbled a top Whole Foods supplier, leading to empty shelves across the country. Charles Carmakal, the chief technology officer of Mandiant, Google's cloud security company, said in an emailed statement that it was tracking "multiple incidents in the airline and transportation sector" where Scattered Spider had broken in. "We are still working on attribution and analysis, but given the habit of this actor to focus on a single sector we suggest that the industry take steps immediately to harden systems," he said. Details on the effects of the attacks on airlines are still sparse. A WestJet spokesperson told NBC News in an email that the company first noticed it had been hacked on June 13 and has made "significant progress" to resolve it. Hawaiian Airlines said in a Friday filing with the Securities and Exchange Commission that it discovered on Monday that it had been hacked and that "Flights are currently operating safely and as scheduled." Neither company responded to questions about whether any flights had been canceled or delayed because of the attacks.
CBS News
7 hours ago
- CBS News
11 charged in major Medicare fraud bust, including Brooklyn business owner
Federal prosecutors in Brooklyn have now charged 11 people in one of the largest Medicare fraud busts in history, including the owner of a local business. CBS News New York first reported on the man and a slew of connected Medicare fraud complaints last year. Brooklyn business collects taxpayer dollars through alleged Medicare fraud In February 2024, CBS News New York investigative reporter Tim McNicholas went looking for the owner of G&I Ortho Supply in Gravesend. Dozens of Better Business Bureau complaints revealed G&I was collecting taxpayer dollars for catheters under the names of Medicare members who never requested them. The search led McNicholas to Staten Island, where one man said he'd recently sold the company to another man who was allegedly using a fake Texas ID. However, prosecutors said the name the buyer used was real: Kevin Valdhans. A second man — Jonathan Vaz, of Fort Lauderdale — said Valdhans also bought his company, but didn't remove him from their billing system after the sale. Vaz said at the time, he saw that Valdhans had billed about $7 million worth of catheters in just one week. Suspects received $41 million from Medicare, investigators say A federal indictment unsealed Thursday says Valdhans was part of a criminal organization based in Eastern Europe that bought more than 30 legitimate companies, then used them for Medicare fraud. Prosecutors say the group's leader was based in "Russia and elsewhere." Eight of the people charged are Estonian citizens, one is a United States citizen, and Valdhans is from the Czech Republic. The indictment accuses the group of "stealing the identities and personal identifying information of more than 1 million Americans." Investigators say the group submitted $10 billion worth of bogus Medicare claims and actually received $41 million from Medicare, plus $900 million from Medicare Supplemental Insurers. Prosecutors say the operation lasted until September. Similar fraud complaints at Queens-based business A Queens business has also been connected to Medicare fraud complaints, but that medical supply shop is not mentioned in the indictment. Some of the claims connected to that business were submitted as recently as this month. As far as we know, there is no direct connection between that business and the Russia-based organization, but it is a similar pattern in the sense that a man said he recently sold the Queens business and then started learning of fraud complaints.
UPI
8 hours ago
- UPI
S&P 500, Nasdaq set records in dramatic 3-month turnaround
The Standard & Poor's 500 and Nasdaq Index on Friday rose to records nearly three months after plunging amid tariff wars. File Photo by John Angelillo/UPI | License Photo June 27 (UPI) -- The Standard & Poor's 500 and Nasdaq Composite on Friday rose to record highs nearly three months after plunging to bearish stock prices amid tariff wars. The S&P finished at 6,173, an increase of 32.05, or 0.52% at the close of trading at 4 p.m. EDT. The previous all-time high closing price was 6,144 on Feb. 19. The index dropped to 4,982.77 on April 8, six days after Donald Trump announced trading tariffs on virtually all U.S. trading partners. That low point was 19% off the record with a bear market considered to be 20%. Tech-heavy Nasdaq finished at 20,273, a rise of 105.55, or .52%. The last all-time high was 20,173.89 on Dec. 16. The year's low was April 8 at 15,267, a decline of 24.5% from the record. The Dow Jones Industrial Average ended the day at 43,819.27, a rise of 431.43 or 1%. DJIA hit a record of 45,014.04 on Dec. 4 and was down to 37,645.59 on April 8. The high this year was 44,882.13 on Jan. 30th, 10 days after Donald Trump became president. All but two of CNBC's 11 sectors declined. Energy dropped 0.5% and health 0.17%. The biggest increases were consumer discretionary at 1.78% and communications services at 1.55%. Stocks had been trading higher Friday until Trump posted on Truth Social that trade talks with Canada were terminated. "We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country," Trump posted. "Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," he said. "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period." The United States has imposed a 25% tariff on non-compliant Canadian goods, including vehicles, with energy products subject to a 10% tariff. Also, Canada was hit by the 50% tariff on steel and aluminum imports like other nations. Canada has retaliated with its own tariffs. Products involved in the U.S.-Mexico-Canada Agreement are exempted. Investors were buoyed after Commerce Secretary Howard Lutnick said a trade framework with China had been finalized. At one time, Trump imposed a 134% tariff but it has since been cut to $30. Lutnick said he expects deals with 10 trading partners soon. On "Liberation Day" on April 2, Trump said he would impose a baseline 10% tariffs on most trading partners and stiffer ones for big violators. A week later, he paused them until July 7 and that date might be extended. "I can see where the risks are here -- if the trade [progress] is just hype from the White House and no deals are really forthcoming, then this market is going to roll over," Thierry Wizman, global FX and rates strategist at Macquarie Group, told CNBS. "Ultimately, this all comes back to growth in the U.S. economy and growth of earnings." "We think the recovery makes sense, considering that most large-cap companies should weather the tariffs reasonably well," David Lefkowitz, head of U.S. equities at UBS Global Wealth Management, told investors in a note. "In fact, we think the upcoming [second-quarter] earnings season will once again highlight the resilience of corporate profits." Vital Knowledge analyst Adam Crisafulli sees possibly bumpy times. "We think there's a dangerous amount of complacency on trade/tariffs, a view underscored by the fact markets this morning are celebrating the China 'deal' for a third time," Crisafulli said in a report. The records come days after Trump brokered a cease-fire between Israel and Iran. Oil prices surged before the U.S. bombed three nuclear targets in Iran. West Test Intermediate crude climbed to $74.14 a barrel after being as low as $57.13 on May 13. On Friday, crude oil settled at 65.07, up 17 cents from the day before. One year ago, it reached nearly $84. The average price for unleaded gas in the United States is $3.207, a penny down from last week and $3.503 one year ago, according to AAA. Investors are also pleased with good economic data. Inflation rose 2.4% in May over one year. The unemployment rate 4.2% and has been at this level since May 2024. The Federal Reserve has not raised interest rates since Dec. 18. The Federal Funds Rate is 4.25% to 4.50%. Federal Reserve Chairman Jerome Powell has described a "wait-and-see" approach to interest rate adjustments, describing the need for more data. The next meeting is July 29 and 30.
