Industry: Bank merger proceeds

Benjamin Franklin Bancorp's proposed merger with Rockland Trust, one of the state's largest community banks, is nearing completion.

Shareholders of Benjamin Franklin approved the deal yesterday, while their counterparts at Rockland Trust's parent company, Independent Bank Corp., are scheduled to vote tomorrow. State regulators held a hearing this week and will likely decide in the near future on approving the deal. If all is approved, Benjamin Franklin Bancorp's name would be changed to Rockland Trust.

The all-stock deal is a rarity in the financial sector these days, the banks merging by choice rather than necessity. It would create a 72-branch company with about $4.5 billion in assets.

Read the full article about the merger of Ben Franklin Banking in the Milford Daily News here.

"We need to think of ourselves as part of a community"

FRANKLIN —

Town Council is considering approving a $1.34 million capital plan proposed by the Capital Subcommittee that has been endorsed by the Finance Committee and Town Administrator Jeffrey D. Nutting.

Franklin has $1.45 million for capital items, Nutting said, noting the Capital Subcommittee advised transferring the sum from free cash and $50,000 from a new gift account. The plan would leave $84,000 in the free cash account, Nutting said.

"While we all know these are difficult financial times, it is recognized that if we do not fund a capital plan, the problem gets much worse in the next fiscal year," Nutting said.

Read the full article on the proposal for the capital budget in the Milford Daily News here The capital budget will likely be considered for a formal vote at one of the March meetings.

Industry: RokkSoft partners with VocalEZ

From the PR news wire today, we find out about RokkSoft.

Franklin, MA, February 11, 2009 --(PR.com)-- RokkSoft Solutions Corp has partnered with VocalEZ LLC to expand the distribution of the VocalEZ voice recognition medical dictation transcription service.

VocalEZ wraps an integrated work flow around voice-enabled software and web technologies to provide a simple, cost effective dictation transcription platform that is scalable from a single dictator to a large clinic or integrated hospital system, resulting in cost savings of 50 percent when compared to traditional transcription methods.

RokkSoft will offer the VocalEZ medical dictation transcription system in a “Software as a Service” (SaaS) model to physician practices and medical clinics. Medical practices of all sizes are confronted with escalating costs. Because VocalEZ is a pay-for-use service, administrators are now equipped with a solution that dramatically reduces monthly expenses, without requiring a major capital outlay.

VocalEZ fundamentally changes the way the transcription industry provides clinical documentation by creating significant enhancements and savings through the entire process. This HIPAA-compliant solution delivers more accurate, timely and integrated medical documentation.

VocalEZ has created a solution that allows every physician practice to enjoy the same benefits that had previously only been available to the largest groups and hospitals. By focusing on the needs of this largely overlooked segment of the healthcare market, the partnership with RokkSoft is an indication of the VocalEZ commitment to improved patient care while driving down costs.

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About RokkSoft

RokkSoft Solutions Corp represents companies that provide medical practices and businesses with industry-changing technology applications to improve productivity and drive down operating costs. These applications are delivered in a “Software as a Service” (SaaS) model to minimize required startup resources and eliminate capital expenditures. This enables clients to quickly realize ongoing cost savings.

For more information, please visit http://www.rokksoft.com.


From PR.Com here

Town Council Mtg Smry 02/11/09

The summary of posts covering the Town Council meeting on 2/11/09

• Live reporting - council comments
• Live reporting - Town Admin
• Live reporting - Legislation for action
• Live reporting - Town Council 2/11/09

• Town Council - Agenda - 2/11/09

Live reporting - council comments

Zollo - budget season coming and it will be the most challenging for the town. It will require sacrifice from everyone in Town. My hope is that all affected parties will work together in a spirit of unity. To think outside the box. At some point as a town, we have to decide what our budget will represent. Regardless with what is passed, this should bring us closer together.

Pfeffer - The Capital Committee has looked long and hard at the capital. There is a cost to not spend the capital. The Town has paid that price before.

Whalen - The original capital amount was in the neighborhood of 8 million dollars and we are now looking at a vetted amount just over 1 million.

Adjorn!

Live reporting - Town Admin

The Franklin Food Pantry is looking for space. When the renovation on the old municipal building occurs later, they will need the space. They serve approx. 18 communities but most of them are from Franklin, so they would like to remain in Town.

Falling investment income, excise taxes, etc. will result in below level revenues for the first time in several years.

Live reporting - Legislation for action

J. LEGISLATION FOR ACTION

1. Resolution 09-05: Confirmatory Order of Taking Cross and King Street - approved 8-0
   
2. Resolution 09-07: Appropriation – Public Facilities Salaries - approved 8-0
3. Resolution 09-08: Appropriation – Title and Deed Research - approved 8-0
4. Resolution 09-09: Appropriation – Survey on 30+ Acres on Pond Street - moved to March 4th meeting
   

#1 - a small parcel of land was left off the prior Four Corner transactions, this cleans up that situation in order to move forward with the Walgreens proposal.

#2 - house cleaning on the accounting, when the department changes took place 5 were planned for, only four actually moved.

#3 - money needed to clear title and ownership for town owned land that has been accumulated over time. The company has already been doing the work, this amount allows them to finish what is in their queue.

#4 - again to clear title and survey for the land. The Town did get State approval for the 40-D priority development for this land. The approval comes with a grant to help improve the planning and permitting process.