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Finance

Monday, July 23, 2012

Strong Open for Kayak as Shares Surge

The Concord-based online travel company enjoyed a 28 percent rise in its first day of trading last week.

Concord-based online travel company KAYAK Software Corp saw shares travel in the right direction on the local outfits first day of trading last Friday, July 20. In a July 19 company press release, KAYAK announced the pricing of its initial public offering of 3,500,000 shares of its Class A common stock at a price to the public of $26.00 per share, to be traded under the ticker symbol "KYAK." According to reports, in its first day, company shares rose about 28 percent to close at $33.18 after going public at $26 per share. “Becoming a public company marks an important and exciting milestone for KAYAK,” said co-founders Steve Hafner and Paul English in a statement, via the Boston Herald. “Our team intends to stay focused on creating the best…

Friday, July 6, 2012

Report: Concord Native at Center of Barclays Scandal

The UK bank’s former CEO, Robert E. Diamond, grew up in Concord.

  Banker Robert E. Diamond, who resigned from his post as Barclays CEO amid a financial markets scandal, is a Concord native who maintains close ties to his New England roots, according to reports. A Concord-Carlisle graduate, Diamond gives generously to his alma mater, Colby College, and still summers on Nantucket with his wife and children, according to the Boston Herald. Diamond reportedly resigned on Tuesday, July 3, after Barclays was slapped with a $453 million fine for submitting false reports on interbank borrowing rates, according to an AP report on HuffPost Business. According to that report, Diamond released a statement accompanying his resignation that suggests he’s stepping down to protect the brand. “The external pressure …

Monday, April 4, 2011

Concord Budget Books Keep Winning Awards

This year, like the past several, the town's finance team puts out award-winning public documents.

Year after year, the unsung finance office in the Town House issues the operating budgets that are used for Town Meeting and at various hearings in the weeks leading up to the vote for passage. Patch wanted to know what is behind the winning documents. Each of the past several years, their books have won awards from the state's finance officers from the Cape to the Berkshires. They did it again. Congratulations! 1. How long does it take you to complete the book each year? Do you start the day after the last one is released, or give yourself a couple of months? The FY12 Town Manager’s Budget Book and FY12 Enterprise Budget Book have recently been published and distributed. This concludes a seven-month process.  To see the results, you can …

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