The Weekly Business Report: Recent Episodes
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Your weekly look ahead at the news in the Central Massachusetts business community, presented by Worcester Business Journal and Radio Worcester.
After exploring chocolate-making as a hobby for years, Monica & Tom Rogan left their careers in Los Angeles behind to found Goodnow Farms Chocolate at a 225-year-old farm in Sudbury. The couple joins the WBJ Podcast to discuss the night-and-day difference between their chocolate and typical grocery store candy bars; ethically sourcing their cacao beans; and what it takes to create award-winning chocolate.
When will you feel comfortable entering a post-pandemic life? An Instagram conversation makes its way to the airways.
Jared Forman, executive chef and co-owner of the Worcester restaurant deadhorse hill, joins the WBJ Podcast to discuss with Brad & Hank how to expand on a conversation Brad & Jared had on Instagram, about when they will feel safe venturing back into the world, both personally and in business.
This conversation seeks to figure out how to balance the need for economic recovery and a re-entering to pre-pandemic society, with the health risks associated with the coronavirus pandemic, even after people start receiving the vaccine.
UMass Medical School Chancellor Dr. Michael Collins and UMass system President Marty Meehan have proposed setting up a volunteer corp of nursing and medical students to vaccinate Massachusetts residents against COVID-19, after the initial rollout of the vaccine has been bumpy.
Collins joins the Weekly Business Report to discuss this plan, how it will help fight the pandemic, and when it might move from Worcester pilot program to full-fledged reality.
Patrick Smith, the head of small business banking at Santander Bank, joins the Weekly Business Report to advise small businesses on the opportunities and pitfalls for financing in the coming year, especially as companies begin to emerge from the recession, which is now nearly a year old.
Much like the rest of the country and the world, 2020 was a tough year in Central Massachusetts business. Looking at WBJ's Economic Forecast special edition, WBJ Podcast hosts Brad Kane and Hank Stolz look at what is to come for the region's economy in the coming year, including a look at some specific, bold predictions for news events in 2021.
Warehouses and distribution centers have been popping up throughout Central Massachusetts over the last year. In the last few months, online retail giant Amazon has added several locations throughout the region and appears poised to take over the high-profile location for the soon-to-be-demolished Greendale Mall.
WBJ News Editor Grant Welker joins the podcast to discuss Amazon's plans and why Central Massachusetts has become a destination for warehouses.
The North Central Massachusetts Chamber of Commerce on Monday released a survey showing in-depth how the coronavirus pandemic is impacting the business communities in Leominster, Fitchburg and the rest of North Worcester County.
Roy Nascimento, CEO and president of the North Central Massachusetts Chamber of Commerce, discusses the results of the survey and how the chamber is using the results to advocate for and help the region's businesses survive the pandemic.
In Central Mass., the restaurant industry is more developed in places like Worcester, Sturbridge and Marlborough, which have eschewed the state liquor license cap law in favor of having unlimited bars and eateries in their communities.
WBJ News Editor Grant Welker and Paul Matthews, Worcester Regional Research Bureau executive director, discuss the joint WBJ-WRRB collaboration on the local implementation of the liquor license law in this episode of The Weekly Business Report.
Unlike many others in the hospitality industry impacted by the pandemic, the living history museum Old Sturbridge Village was put into a unique situation because of the highly skilled and specialized nature of its employees, which are hard to replace.
As a result, the village prioritized not only keeping those employees employed and happy, but keeping them employed in the future, which included some creative solutions in helping them with their own pandemic lives.
For much of its history, Massachusetts has had ties to the institution of slavery, both before and after the commonwealth abolished the practice, including leading up to the Civil War when the Central Massachusetts textile industry benefitted from slave-grown cotton.
Former WBJ Editorial Intern Devina Bhalla and News Editor Grant Welker discuss Bhalla's two-month deep-dive into slavery's history and legacy into the Central Massachusetts economy in this episode of the podcast.
Jim Way founded the Worcester location of Island Fin Poke in July 2019, despite the raw fish bowls not yet being a well-known dish for New Englanders. After a rough few months, sales were starting to spike right when COVID-19 hit.
Despite the challenges, Way and his wife Marilyn survived the pandemic's initial stages, and right around the restaurant's one-year anniversary, they set three sales records in the Island Fin Poke franchise history.
Webster developer Galaxy Life Sciences has plans to build a $50-million facility in the Worcester biomanufacturing campus The Reactory, offering the site its second planned building. While Galaxy plans to build this facility without having a tenant lined up Galaxy principal Michael O'Brien and Vice President Matthew Zicaro believe the Massachusetts life sciences industry is so strong, they will have a new tenant lined up in a matter of months.
If all goes according to plan, Galaxy can then use this development to build out the rest of the 46-acre Reactory site, creating a biotech cluster in Worcester.
Every month, the Associated Industries of Massachusetts surveys employers to determine their outlook on the economy, putting the results in a 0-to-100 score where anything 50 or above is considered an overall optimistic outlook.
After scoring in optimistic territory for seven years, AIM's Business Confidence Index nosedived in March due to the coronavirus pandemic and has remained with an overall pessimistic score ever since, including a 46.3 score in August.
Chris Geehern, executive vice president for public affairs and communications at the AIM, details the reasons behind Massachusetts employer pessimism and predicts how long it will be before businesses in the state are optimistic again.
In Worcester County, nearly 4 out of 5 coronavirus-related deaths have come in nursing homes. Although the local figure outpaces the state and national rate, the overwhelming plurality of COVID deaths have come in nursing homes and among the elderly.
In August, UMass Medical School in Worcester was tasked with working to address this problem. Dr. Jerry Gurwitz, the chief of the Division of Geriatric Medicine at UMass Medical School in Worcester and executive director of the Meyers Primary Care Institute, was named the principal investigator on a project funded by the National Institute on Aging to research ways to set up clinical trials networks to study COVID-19 in nursing homes.
The $115-billion dollar financial services company JP Morgan Chase is growing its presence in Worcester, dedicating three employees to working in the region and joining the Worcester Regional Chamber of Commerce. Jim Glassman, chief economist for JPMorgan Chase Commercial Banking, and Deborah Barry, who is JP Morgan's local commercial banking executive who oversees the Worcester operations, said despite the economic recession amid the coronavirus pandemic both Greater Worcester and the nation as a whole have good reasons for economic optimism.
On Monday, Worcester Business Journal announced the Class of 2020 for its annual 40 Under Forty awards, honoring up-and-coming professionals in the Central Massachusetts business community. Joining the podcast are two of this year's winners: Kate Marquis from her company Lilac & Oak in North Brookfield, and Abed Hamid from Charlton manufacturer KARL STORZ Endovision.
At the end of July, the Mercantile Center in downtown Worcester announced Webster Five Bank had provided $4.2 million in financing for the center to create a space for the Broadway Hospitality Group to launch a two-story, rooftop restaurant. Christopher Watson, the senior business lending officer and senior vice president for Webster Five, discussed why the bank decided to move forward in back a high-end restaurant during a time in which the coronavirus pandemic has upended the hospitality industry.
In this new recurring Worcester Business Journal feature where leading executives interview each other, the president & CEO of Hanover Insurance Group and the president & CEO of UMass Memorial Health Care discuss their separate ascensions to the top job, why companies need to advocate for causes like social justices, and how to keep employees focused and motivated during a crisis like COVID-19.
College students and businesses' interns have been uniquely impacted by the coronavirus pandemic, as colleges moved their spring semesters entirely online, then internships starting drying up for the summer, and universities' fall semesters are shaping up to be a vastly different college experience.
Devina Bhalla, a junior at Tufts University in Medford and an editorial intern at Worcester Business Journal, joins the podcast to discuss how the world for the emerging workforce has turned upside down in the past four months.
Since the police killing of George Floyd in Minneapolis on Memorial Day and the ensuing Black Lives Matter protests throughout the world, YWCA Central Massachusetts has seen increased interest in its Racial Equity Education workshops, where businesses can bring in experts to show how diversity & inclusion can become a greater priority.
Maritza Cruz, director of racial and gender equity at the YWCA Central Massachusetts, joins The Weekly Business Report to detail a few ways businesses can become more inclusive in the short term and begin to change their culture over the long term.
After meeting in the Colorado marijuana industry, Kevin MacConnell & Tim Phillips set out to start an Uxbridge cannabis company, creating custom marijuana products for dispensaries. For more than two years, they fought against the tough Massachusetts regulatory structure in order to get a cannabis business license, all while their expenses piled up. In July, the duo finally got their license and then hit the ground running in getting their products on the market from their company Blackstone Valley Naturals, which is doing business as Yamna.
Unlike nearly every other Central Massachusetts college and university, Quinsigamond Community College in Worcester is not reopening its campus for the fall semester, instead choosing to have all of its class online, with only a handful of exceptions. QCC President Luis Pedraja joins the podcast to discuss his thought-process behind the closure driven by the coronavirus pandemic, and why he is going against the grain in higher education.
WBJ News Editor Grant Welker replaced Editor Brad Kane as the co-host for this episode, joining Hank Stolz.
After losing nearly all of its events because of the COVID-19 shutdown, Mechanics Hall officially closed on June 19. Executive Director Kathleen Gagne details the events that led to that closure and discusses what needs to happen in order for the 163-year-old meeting place to reopen.
After finding success with his Accra Girls restaurant on Worcester's Grafton Street, Emmanuel Larbi is opening his second location -- Akra Eatery and Juice Bar -- in Worcester Public Market.
Larbi joins the podcast to talk about the exciting new developments in the Canal District around the market, the uniqueness of Ghanaian food, how coronavirus impacted his plans, and how entrepreneurs can play a role in the push for racial justice.
When he was attending grade school, Dr. Mark Johnson, now chair of neurosurgery at UMass Memorial Health Care, he was regularly attacked for being a black student in a mostly white school. During a road trip after his high school graduation, he and his family came under gunfire from a group of men at a rest stop. Even as he ascended the ranks of Harvard University, racism was still part of his life.
In the wake of the police killing of unarmed Minneapolis man George Floyd and the subsequent protests against institutional racism, Dr. Johnson said Central Massachusetts business leaders have an important role to play in creating real change, and he was encouraged the leaders of UMass Memorial Health Care in Worcester have come out strongly in favor of change.
When Gov Charlie Baker on March 23 called on the closure of all non-essential businesses in an effort to stem the spread of coronavirus, hair stylist Alexis Ledoux at the NKD Salon in Worcester already had stopping seeing customers, out of concern for the safety of her clients, herself and her husband, who is a cancer survivor. Yet, as an independent contractor, she wasn't eligible for unemployment right away and dealt with mounting bills as little money was coming in.
When hair salons were allowed to reopen on May 25, Ledoux started rescheduling clients, operating under a strong set of conditions for herself and her customers, and embracing her fears as she slowly builds her business back up to full operating strength.
New housing starts, one of the key indicators of a growing regional economy, hit its highest level in 2019 in Greater Worcester since the end of the Great Recession. WBJ News Editor Grant Welker discusses the importance of this milestone and what impact the coronavirus will have on the future of housing and the Central Massachusetts economy
Worcester Business Journal has released its annual Power 50, a list of the most influential people in the Central Mass. business community. One of the members of this year's class, John C. "Jack" Roche, president and CEO of the Hanover Insurance Group, joins the podcast to discuss how Hanover has positioned itself to weather the coming economic storm, as well as remained a major player in the local development and nonprofit communities while being a global company.
On May 11, the 35-year-old Stephanie Ramey took over as president of the Worcester Railers Hockey Club, after the Worcester native and Worcester State University graduate already had led the tourism marketing agency Discover Central Mass. for two years. Ramey walks us through the back story of how she got hired, looks at the future of DCM, and details how she will help the team win a championship by focusing on marketing and fan experience.
More than 20% of the Massachusetts workforce has applied for unemployment since the coronavirus crisis began in mid-March, particularly those employees in the hospitality, retail and healthcare sectors. Yet, other sectors of the economy -- particularly grocery stores and delivery services -- have made significant hiring pushes.
Jeff Turgeon, executive director of the Central Mass. Workforce Investment Board, joins the podcast to discuss COVID-19's immediate impact on the workforce, as well as its long-term effect on what industries will lead the Central Massachusetts economy.
As Massachusetts state and business officials gather to establish the plan to re-open the economy perhaps by May 18, Worcester entrepreneur Amy Lynn Chase details her businesses' struggles since the coronavirus pandemic became a reality in Central Massachusetts. Despite all the canceled events, an 80% reduction in revenue, and the heartbreaking moment where she had to lay off staff for the first time ever, Chase isn't in a hurry to jumpstart the economy, at least until the public health risk is significantly diminished.
bankHometown President and CEO Robert Morton said his company received so many initial applications for the federal $349-billion Paycheck Protection Program, the bank had to stop accepting new applications out of fear it wouldn't be able to close them all in the required period of time. Now, as the second round of federal funding it starting to be dispersed, bankHometown has 250 loans totaling about $15 million from customers who missed out on the first round.
Also joining Hank & Brad on the podcast is Derek Canton, the Worcester entrepreneur who was developing a restaurant dining app. Since the coronavirus pandemic has forced the closure of all Massachusetts restaurant dining rooms, Canton has pivoted to develop an app making takeout and delivery safer and more secure.
Brian Treitman, the founder of B.T.'s Smokehouse in Sturbridge, and his business partner, Billy Nemeroff, join The Weekly Business Report to discuss the new B.T.'s location in Worcester and why barbecue restaurants have fared better during the coronavirus shutdown than most other eateries. WBJ News Editor Grant Welker also comes on the podcast to discuss the impact of the pandemic on community health centers in Worcester.
Worcester City Manager Edward Augustus joins the podcast to detail how long of a delay the Polar Park stadium project can bear and still be ready in time for the Pawtucket Red Sox to move in by April 2021. WBJ News Editor Grant Welker also joins Hank & Brad to discuss how Central Mass. colleges and universities are dealing with the unknown fall semester.
Dr. Eric Dickson, CEO and president of UMass Memorial Health Care in Worcester, joins the podcast to talk about all the efforts the hospital system is making to deal with the anticipated spike in coronavirus cases in the coming weeks. Beyond the immediate impact, Dickson details how the cost of treating the pandemic will impact the long-term financial future of Central Massachusetts' largest employer. Ed Manzi, president and CEO of Fidelity Bank in Leominster, joins Hank & Brad as well, about the early demand for the $349-billion Paycheck Protection Program from the federal stimulus law.
Co-hosts Brad Kane and Hank Stolz practice social distancing for this podcast and go without guests. Instead, they talk about what has made them happy personally, amid all the COVID-19 craziness. Plus, they look at some business and organizations making donations and delve into the initial information from the federal $2-trillion stimulus package and what small businesses can get to stay afloat during the crisis.
The impact of the efforts to limit the spread of coronavirus hit hard and fast in the Central Massachusetts economy. Hank & Brad talk about all the business closures and layoffs while Meredith Harris from the Marlborough Economic Development Corp. gives the report from on the ground in MetroWest. WBJ News Editor Grant Welker joins the podcast to relay some sobering news about projected hospital bed shortages and long-term impacts on the economy.
In an episode recorded on Wednesday, March 11, Brad & Hank talk about all the Central Massachusetts business and event closures, due to the effort to stem the spread of the coronavirus. Not focusing solely on the disease, the podcast also brings on WBJ Publisher Peter Stanton to discuss which executives in Central Massachusetts are the best golfers; and Sam Hendler from Jack's Abby Craft Lagers talks about all things beer.
WBJ reporter Kaitlyn Mode discusses her story on couple Lynn Cheney and Bill Nemeroff, two food entrepreneurs undertaking a pair of Worcester's more exciting new culinary businesses. Also joining the podcast is Stephen Kerrigan, the president & CEO of the Edward M. Kennedy Community Health Center, to talk about the center's new efforts to engage the community, particularly through an upcoming masquerade gala fundraiser.
A large undeveloped parcel of land has gone on the market in Marlborough, a rare opportunity in an already heavily developed city. News Editor Grant Welker joins Brad & Hank to discuss the economic development potential for both the city and the real estate market. Bob Nelson, Massachusetts district director of the U.S. Small Business Administration, also joins the podcast to discuss lending, and his new boss.
Renee Diaz, owner of The Queen's Cups bakery and author of the WBJ column The Struggle is Real, joins Brad & Hank to discuss her emotional honesty, who helped her along the way, the transformation of the Canal District in Worcester and what treat is all the rage at her cupcake shop. Wait for it until the end, and you'll hear a surprise announcement from Renee on the future of The Queen's Cups.
Brad & Hank sit down with freelance reporter Sarah Connell Sanders to discuss her story "Disrespected" about Central Mass. professional women who've dealt with sexual harassment. Shaleen Title, commissioner of the Massachusetts Cannabis Control Commission, also joins the podcast to talk about what the second full year of legal marijuana sales will bring in the Bay State.
During this inaugural episode of The Weekly Business Report, Jim Umphrey from Kelleher & Sadowsky sits down with hosts Brad Kane and Hank Stolz to discuss new institutional investment coming into Worcester. WBJ News Editor Grant Welker also joins the team to discuss this year's update to the award-winning The Boardroom Gap series.