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Yahoo
19-05-2025
- Business
- Yahoo
Trump's attacks on Mass. hit economy in ‘the gut,' Greater Boston Chamber boss says
President Donald Trump's trade war, his immigration policies, and his attacks on higher education hit the Bay State's economy right 'in the gut,' further darkening an already complicated business picture. That's the analysis that Jim Rooney, the president and CEO of the Greater Boston Chamber of Commerce, offered Sunday during an appearance on WBZ-TV's 'Keller @Large' program. Massachusetts already was struggling with economic competitiveness and job creation issues before Trump returned to office in January, Rooney told host Jon Keller. 'Now you layer on job-impacting types of federal policies like tariffs, like research funding, like immigration, and that was going to be tough anyway,' Rooney said. 'And ... if you look at where our jobs are, [with] high concentrations in life sciences and medicine ... this is right in the gut of the Massachusetts economy,' he continued. Trump's ongoing war with Harvard University, some of which is now in the hands of a federal judge, has provided a vivid illustration of that impact. The Cambridge-based university now faces nearly $3 billion in federal funding cuts. Those concerns are further underlined by new research by Mark Williams, a master lecturer in finance at Boston University, concluding that the Republican White House's policies could result in billions of dollars in lost revenue and tens of thousands of job losses as early as next year. That's because, compared to other states, the Bay State's economy 'disproportionately' depends on such sectors as life sciences, higher education, trade and tourism, Williams said. All of those already have been — or will be hit — by Trump's economic policies. 'Here in Massachusetts, we really have a knowledge-based economy,' Williams said in a statement. 'We're a top-20 economy by size of GDP, but yet we're the third-largest recipient of National Institutes of Health (NIH) funding. We have the fifth-largest percentage of immigrants in the country, larger than Texas as a percentage of our immigrant population to the overall population," he continued. 'And because of our maritime past, 9% of our GDP is tied up with trade.' Speaking to Rooney on Sunday, Keller alluded to Williams' findings. The regional business leader said he wasn't shocked by them. Rooney said he's been trying to contain any potential damage by reaching out to leaders in other states to promote the scientific and economic importance of research funding. 'As you think about federal issues, we're the bluest and blue states, and right now, [there's a] Republican-controlled White House [and] House and Senate,' he said. 'So our approach has been coalition-building.' That effort now includes 60 chambers of commerce in more than 30 states, he said. 'We're going to lobby. We're going to go to Washington, and we're going to sign onto joint letters,' he said, 'We're going to try to make that case that what is happening at home.' Williams' warnings, meanwhile, reflect those of Massachusetts' elected officials, including Democratic Gov. Maura Healey, and others. Last week, responding to what her office described as the uncertainty brought on by Trump's attacks on federal funding, Healey's office announced she was imposing a hiring freeze across the executive branch. Read More: These key public services won't be hit by the state's hiring freeze, Mass. Gov. Healey says Speaking to reporters after she attended the grand opening of the Lego Group's new headquarters in Boston's Back Bay, the Democratic governor kept up her criticism of the actions of Trump and his Republican allies on Capitol Hill as they slash social safety net programs to underwrite tax cuts. Read More: Gov. Healey: SNAP cuts will 'force Mass. families to go hungry' 'These cuts by the Trump administration, unfortunately, have real consequences. I look at the [proposed Republican] cuts to the [Supplemental Nutrition Assistance Program]. We've got 7 million people in the state, and a million rely on SNAP benefits,' Healey said. 'We're talking seniors, we're talking single moms, we're talking children, and he's cutting that.' Old Trump foe says he must be stopped before 'tanks are rolling down the streets' US stuck with 'madman' Trump. And it's Dems' fault, Conn. senator says From Baker to Ballot: Republican Mike Kennealy makes his pitch for governor | Bay State Briefing Former President Biden diagnosed with aggressive prostate cancer Phone workers worried about lead on old lines wonder: Who will answer their call? Read the original article on MassLive.
Yahoo
07-05-2025
- Business
- Yahoo
Top Mass. Senate Dem Spilka to Boston biz leaders: ‘You must speak up'
The top Democrat in the Massachusetts state Senate made a direct appeal to the upper crust of Boston leaders on Wednesday, urging them to 'speak up' as the Republican Trump administration does battle with the Bay State over trade, federal funding and other key issues. Speaking to the Greater Boston Chamber of Commerce in Boston's Seaport neighborhood, Senate President Karen E. Spilka called on those business leaders to use their combined clout and their voices to 'speak up.' " I hope you will all use your collective voices to let the Trump Administration, Congress, and the federal government know when their policies are harming your businesses, your employees, your families and your bottom lines—as well as the state we are lucky enough to call home," Spilka, D-Middlesex/Norfolk, said in remarks that stretched to 33 minutes. The business group, she noted, represents 1,200 organizations that include large and small corporations, nonprofit groups, and law firms, adding that she could "only imagine the billions of dollars in economic activity you represent when taken all together." So, while the Senate will do "all we can to uphold the rule of law, separation of powers and due process, but we are limited in what we can do and we can't do it alone,' she continued, casting that effort against the recent celebrations of the 250th anniversary of the Battle of Lexington. 'That's why we need your partnership more than ever to call out, when appropriate, a president who wants to be king and a Congress that is handing over its power to that president,' she said. The Ashland Democrat has emerged as one of the most forceful legislative critics of the Republican White House, repeatedly denouncing what she has described as the destructive impact of its policies on Massachusetts. Spilka beat that same drum during her speech to business leaders, saying she fears that "the massive changes being made by this administration at the federal level are not just reshaping our government, they are also threatening our way of life and our basic democratic principles." That's easy to see, she continued, 'when you think of our most vulnerable residents, families with children with complex medical needs, and our veterans—among others—who rely on government programs like Medicaid, Head Start or the VA. Or when you think of the people—surely some of you in this room—who have had to fight to be afforded the same rights and privileges as other Americans." But because she was in a room full of numbers people, Spilka also made a starkly economic argument, noting that 'chaos' brought on by the White House's trade war is " also a threat to our economy — and not just because economies crave stability.' 'Just this past fall—practically a lifetime ago at this point— two MIT economists, together with their colleague from the University of Chicago —won the Nobel prize in economics for their work to show that over time, open, inclusive and democratic countries have stronger economies," she said. The argument echoed those made by other Bay State pols, including Massachusetts Gov. Maura Healey and U.S. Sen. Elizabeth Warren, D-Mass., that Trump's attacks on Harvard University would punch a hole in the state's economy, prompting researchers and innovators to flee to other countries. On Tuesday, Senate Democrats rolled out a $61.3 billion, no-tax-hike budget plan for the new fiscal year that starts July 1, which is premised heavily on federal funding. Speaking to reporters on Tuesday, the Senate's top budget-writer warned of potentially catastrophic consequences if Washington carries through on a threat to turn off the spigot. That's particularly true of MassHealth, a budget beast that serves millions of state residents, Senate Ways and Means Committee Chairperson Michael Rodriques, D-1st Bristol/Plymouth, said. If the feds hit Medicaid, 'all bets are off‚' Rodriques said. On Tuesday night, states appeared to get a reprieve, as congressional Republicans ruled out some Medicaid reductions, putting the burden on Trump's loyalists to look elsewhere to pay for the White House's tax cuts, according to Roll Call. Spilka hit the high points of the majority-Democrat chamber's fiscal blueprint: More money for public education, an effort to tame the state's housing crisis, and public transportation. But, she warned, 'no state, not even one as strong and resilient as Massachusetts, can fill the massive budget gaps that could arise if federal dollars are stripped away.' If that happens, she continued, 'it will put serious pressure on our budget, our families, our communities, and our businesses.' The Senate is scheduled to start debate on its budget proposal on May 20. The majority Democrat House passed its $61.4 billion version of the budget last week. Both proposals are below the $62 billion that Healey proposed earlier this year. 'As we navigate the coming months and years, we truly will need to continue to work closely together to solve the most pressing problems before us and stand up for the state that we love,' Spilka told the crowd. More political news Read the original article on MassLive.
Boston Globe
07-05-2025
- Politics
- Boston Globe
Massachusetts Senate will ‘explore' ban on cellphones in public schools, top Democrat says
Advertisement 'Making schools cell phone free should be as fundamental to our understanding of what helps a child learn as providing school meals and access to social and emotional learning resources,' Spilka planned to tell members of the Greater Boston Chamber of Commerce, according to a copy of her prepared remarks. The Senate would 'explore ways to keep our schools distraction-free— and, more precisely, cellphone free," according to Spilka, though she didn't endorse a specific piece of legislation. State lawmakers this session have Advertisement Spilka pointed to what she called 'mounting evidence' that cell phone usage during the school day is detrimental to students, from providing a simple distraction to what she called 'more worrying issues,' such as cheating and cyber bullying. Patrick Tutwiler, the state's education secretary, has voiced support for the Campbell-backed bill dubbed the 'STUDY Act,' which also would require social media companies to implement additional health and safety policies. Leadership at the Massachusetts Teachers Association has also backed some type of a ban, saying phone use can facilitate bullying, and take time away from 'play and sleep and real-world human connection.' Many school districts have already taken steps to curb students' phone use. For example, Boston last year awarded a three-year, $843,000 contract earlier to Yondr, a company that makes individual magnetic locked pouches that students can put their phones in. In many cases, the state is already helping the effort, awarding nearly $1.3 million in grants to 77 districts to reduce cellphone usage among students, the Globe reported last year. About three-quarters of districts used funding to purchase pouches, lockers, charging stations, and the like. But district-level efforts have also generated controversy. At Ipswich High School, a student launched a petition on in an emergency. Opposition to bans has emerged at other schools, such as This is a developing story and will be updated. Advertisement Matt Stout can be reached at
Axios
09-04-2025
- Business
- Axios
"Stop the chaos": Massachusetts reels from on-and-off-again tariffs
Gov. Maura Healey and business leaders were discussing the impacts of impending tariffs in her office Wednesday when a message popped up on her phone: another pause on tariffs. Why it matters: Healey and business leaders say — pause or no pause — the escalating trade wars have already cost local businesses contracts and potential investments in Massachusetts. Driving the news: Healey urged President Trump to "stop the chaos" with the on-again-off-again tariffs. Her administration is exploring setting up programs to help affected businesses with help from quasi-public agencies like MassTech. She declined to elaborate when asked by an Axios reporter whether the solution involves new programs or expanding access to existing resources. She focused her message on urging Trump to rethink his current tactics What they're saying: "We cannot continue to have our economy in Massachusetts and around this country held hostage," Healey told reporters yesterday. "We cannot continue to gamble with people's livelihoods." The big picture: The tariffs alone stand to cost Massachusetts more than $3.2 billion annually, per recent estimates, and the state is already struggling with the loss of NIH grants and federal worker layoffs. Zoom in: The repeated threats of tariffs are prompting some European companies and other businesses to hold off on making investments in Massachusetts, said Jim Rooney, president and CEO of the Greater Boston Chamber of Commerce. Sergio Espinoza, founder and CEO of Manka FoodService Consulting & Design, says the tariffs have thrown a wrench in his plans with Cremosos, a Dominican ice pop maker, to build a manufacturing facility in the state. He foresees tariffs driving the cost of restaurant equipment, food and other supplies that are central to his clients' businesses. "We're advising for people not to expand the business, not to look at other locations, until we're 100% sure that we can make it happen," Espinoza said of his clients.
Boston Globe
24-03-2025
- Business
- Boston Globe
Fernández Alcalde takes the reins at EMD Serono, one of Boston's newest biotechs
That logic drove Round and other senior leaders to uproot a corporate office from its longtime home in suburban Rockland, and relocate roughly 400 people to Boston's Seaport last September — joining the likes of Vertex Pharmaceuticals , Alexion , Foundation Medicine , and Eli Lilly . Fernández Alcalde said attracting and retaining talent was a major motivation for the move to a modern office built on what was the parking lot for the former Anthony's Pier 4 restaurant. The building, developed by Tishman Speyer , opened in 2019; textbook publisher Cengage first occupied EMD Serono's space before relocating to Government Center. (EMD Serono — a provider of neurology/immunology, fertility, and oncology treatments — also runs a research center in Billerica.) Although some commutes were disrupted, Fernández Alcalde said his company is already reaping the benefits of moving to the big city, particularly with regard to hiring. However, the move also makes it easier for rivals to poach his employees, he said, so EMD Serono needs to ensure it remains an attractive place to work. Advertisement 'You want to be where things happen,' Fernández Alcalde said. 'You need to be surrounded by the people who have that passion and that drive to make it happen.' He acknowledges the uncertainty looming over the industry given the changes underway at federal agencies such as the Food and Drug Administration. But he remains convinced that the US is a great place to operate for a life sciences company. That's especially true for Boston. 'This is,' he added, 'by far miles ahead of any other place.' Advertisement JetBlue CEO eyes growth in Boston market Can JetBlue get back to cruising altitude here? Chief executive Joanna Geraghty sure thinks so. Speaking at the Greater Boston Chamber of Commerce event last week, Geraghty pledged to 'We continue to grow Boston again and again ... reestablishing our presence here,' Geraghty said in a Q&A session with PR executive Geri Denterlein on stage. The New York-based carrier held the number one position at Logan for a long time before the COVID-19 pandemic hit. But JetBlue has since lost momentum here amid stiff competition from Delta Air Lines and a federal lawsuit that broke apart its Spirit didn't help. JetBlue's daily departures out of Logan are back near 2019 levels when it had an average of 150. But JetBlue's passenger count has not recovered as quickly, even though Logan's overall traffic recently passed pre-pandemic levels. So who is Logan's busiest carrier? JetBlue has a bigger market share in the winter, but Delta takes the lead in the summer months, per a Massport spokesperson, and generally has the edge year-round now. Geraghty pointed to strong growth ahead in Boston, including a 15 percent increase year-over-year in seats sold for the next quarter. JetBlue in January announced it will have 77 nonstop destinations from Boston, more than any other airline, once a bevy of seasonal routes are included. JetBlue is also working on a new 11,000-square-foot lounge at Terminal C. To bolster her local cred, Geraghty referred to Advertisement 'My president, sometimes we need an interpreter for him,' she said, 'he's so Boston.' AG Campbell delivers fiery words about Trump Massachusetts Attorney General Andrea Campbell speaks at a news conference in February 2025 in Boston. Michael Casey/Associated Press For Attorney General Andrea Campbell , the legal fight to stop the Trump administration's research funding cutbacks isn't just about protecting the billions of federal dollars that flow to Massachusetts institutions. It's about protecting the principles of democracy itself. Campbell delivered fiery words to the Greater Boston Chamber of Commerce last Thursday, at the Sheraton hotel in the Back Bay. Much of her speech was devoted to criticizing the Trump administration, and outlining how she has reacted to the changes coming out of Washington. Campbell's words echoed the defiant rhetoric that Boston Mayor Michelle Wu used in her MGM Music Hall the previous night. In particular, Campbell detailed how her team worked through a weekend to prepare a lawsuit to stop the Trump administration's gutting of National Institutes of Health funds for overhead costs associated with biomedical research. 'The rule of law isn't just important to the AG's office. It's important to the business community. If you don't have a system where we value the rule of law ... we're all in trouble,' Campbell said. 'We're heading in a dangerous direction.' Her office has been engaged in eight lawsuits so far challenging the Trump administration, including five in which Massachusetts co-led. Her roughly 650-person staff includes about 340 assistant attorneys general. 'We punch above our weight every day,' Campbell said, referring to conference calls with AGs who have bigger staffs. 'I feel like Muhammad Ali on most of these calls.' Advertisement Giving merchants a helping hand Greg Reibman, the president of the Charles River Regional Chamber, stands at a dam at the Echo Bridge Office park, in this 2021 photo. John Tlumacki/Globe Staff Every chamber of commerce president wants to grow their membership levels. But how many want to give away memberships for free? That's exactly what Greg Reibman at the Charles River Regional Chamber is doing. He's giving away memberships to independent brick-and-mortar retailers via a new program dubbed 'Small Shops.' The hope is they'll make the chamber's online directory of businesses more robust while giving members access to the chamber's networking and advocacy opportunities. Of Reibman's roughly 1,100 dues-paying members, he estimates between 50 and 100 are eligible, and might drop their $325 annual membership plans. 'There is, maybe for us, $10,000 in revenue at risk, assuming those members don't all renew or some of them convert to the free membership,' Reibman said. Some bigger businesses, led by Comcast 's NBC10 Boston and Wellesley consultancy Insource Services , will help cover the free memberships (which don't include a few services available to full-paying members). 'The goal ... is really to help businesses get through this challenging, uncertain time,' Reibman said. 'These folks need our collective support.' The secret to survivin' You've got to know when to hold 'em. Know when to fold 'em. Know when to walk away. And if you're the two golfers in the new DraftKings ad, you've got to know when to run. Among the scenes in the ad shot in and around Miami: a pair of golfers fleeing a seemingly upset alligator. The 60-second spot also features vignettes with fans of various teams, including the Boston Bruins and Boston Celtics , while the Kenny Rogers tune, 'The Gambler,' plays in the background. In some cases, the fans sing along. (The fleeing golfers were not among them.) The focus of the light-hearted ad is a serious topic: responsible gambling. The tagline: 'It's more fun when it's for fun.' Advertisement DraftKings debuted the ad last week to launch a multimillion-dollar national campaign. The script was developed by DraftKings's marketing team; the video was directed by Henry-Alex Rubin of Smuggler , a production company. 'The song, we feel like it's a perfect fit,' DraftKings chief marketing officer Stephanie Sherman said. 'It really captures the spirt of fandom and fun, and bringing people together.' Sherman confirmed the production team used a real gator. 'That scene certainly was a tricky one,' she added. '[We] certainly had a trainer on site.' Jon Chesto can be reached at
