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American Street Capital Places $30.4 Million Loan For A 111-unit Multifamily Property In Brookline

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Brookline.com
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American Street Capital (ASC) has arranged a $30.4 million loan for a 111-unit multifamily high rise in Brookline, MA.

Built in 1965, the 15-story multifamily tower contains a unit mix of one and two-bedroom apartments averaging 1,014 s/f.

Located west of Boston, in the affluent area, the property’s amenities include a 92 space subterranean parking garage, rooftop pool with pavilion, laundry facilities and a tenant lounge.

ASC exclusively represented the sponsor to secure the fixed rate refinance transitioning the asset out of the floating rate loan ASC originated in 2016. The loan structure featured a non-recourse 15-year fixed term with an initial eight years of interest only on a 30-year amortization schedule. The loan was placed with a correspondent agency lender.

The loan was co-originated by Igor Zhizhin, president of ASC and Alexander Rek, director of operations.

Dorado Tacos Is Closing To Be Replaced By The Soup Shack

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Brookline.com
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A popular spot for tacos is shutting down, and a soup place will be opening a second location in its space.

Dorado Tacos in Brookline is closing, as the owner has sold the Harvard Street business to the people behind The Soup Shack in Jamaica Plain, with the deal possibly being finalized within the next week. The article says that a Select Board hearing was slated to take place today concerning the transferring of the liquor license, so if the transfer was indeed approved, Dorado could be closing very soon.

Dorado Tacos first opened in Brookline in 2009, offering tacos as well as quesadillas, cemitas (Mexican sandwiches), guacamole, bowls, and more. The Soup Shack opened approximately a year ago on Centre Street in Jamaica Plain, with that dining spot offering such items as Thai noodle soup, ramen, and pho.

The address for the soon-to-close Dorado Tacos (and the upcoming Soup Shack) is 401 Harvard Street, Brookline, MA, 02446.

Janet Ralph Has Passed

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Brookline.com
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Janet F. Ralph, of Brookline, MA, formerly of Cranston, passed away on June 05, 2019. She was the loving wife of Samuel “Sam” Scott Jr., Lt. Brookline Fire Dept. (ret).

She was predeceased by her parents, Earle K. Ralph Jr. and Mamie Droitcour Ralph. Janet a registered nurse and worked at a variety of state facilities. She ultimately spent most of her career at the Brookline Center, where she was able to express her passion for improving community mental health. Admired and respected by her co-workers and beloved by her patients, she will be truly missed.

Janet is survived by several nieces and nephews as well as her best friend, Barbara A. Colleran of Portland, Oregon and her godson, Robert J. Colleran of Seattle Washington. She was also predeceased by her brother, Dr. Earle K. Ralph, and sister, Anne Ralph.

A memorial service will be held on Friday, June 21 in St. Paul’s Episcopal Church, 15 St. Paul St., Brookline, MA at 11:00 a.m. Relatives and friends are kindly invited.

Contributions in memory of Janet may be made to the St. Paul’s Episcopal Church Capital Appeal, 15 St. Paul Street, Brookline MA, 02446.

Memorial Day 2019

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Brookline.com
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In A World Of Kardashians, Be A Curie

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Brookline.com
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Greek Government Officials Not Welcome At Boston’s Parade

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Brookline.com
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The organizers of the Greek Parade in Boston, in an official announcement, have declared that Greek government officials are not welcome at this year’s parade in commemoration of the liberation of Greece from four hundred years of Turkish occupation. The parade will take place on Sunday, April 07 at 01:00 p.m.

The Federation of Hellenic-American Societies of New England under the presidency of Vasilios Bill Kafkas recently held its second general meeting at the Maliotis Cultural Center in Brookline. The Federation is in charge of the parade’s organization in cooperation with the Greek Orthodox Metropolis of Boston and the Consulate General of Greece in Boston.

The Metropolis of Boston was once again absent. Metropolitan Methodios never participates in the meetings for the organization of the parade. Sometimes he sends a priest to represent him, but this time no clergy was present to even offer the prayer despite the fact that Methodios had been informed and invited. The Federation has also sent packages with parade materials to all the parishes. The prayer was offered by all those present at the meeting.

Anna Kosmidou, an official of the Consulate General of Greece in Boston represented Consul General of Greece Stratos Efthimiou, who was in Greece.

Federation President Vasilios Kafkas welcomed the delegates and announced the efforts that are under way for the success of this year’s parade.

He again announced that this year there will be a change in the usual program regarding the celebration at the Massachusetts State House. In the past it was held the Friday before the parade, but this year due to the fact that no rooms are available on April 05, the celebration will take place on Friday, March 29 at 12 noon. He also announced that the annual reception at the Consulate General of Greece will take place on Friday April 05 at 06:00 p.m.

The annual Gala Dinner of the parade will take place on Saturday, April 6 at the community center of the Greek Orthodox Cathedral of Boston located at 165 Goddard Avenue in Brookline, MA. The ticket cost per person has been set at $100 dollars.

The memory of Kostas Katsifas, who was killed on October 28 by Albanian police in Northern Epirus will be honored and the Freedom Award will be given to the Paideia organization established by Elias Tomazos in Connecticut, which established and built the facilities of the Center for Hellenic Studies “Paideia” at the University of Connecticut.

Five scholarships will be given to Greek-American students at the Gala Dinner to Greek-American college students. The National Herald will also sponsor a $1,000 scholarship for a student who will be chosen by the Federation according to its rules.
The company that makes the floats will create four of five for the Federation this year, and each association may order its own if it wishes to have a float.

After the parade the Cultural event with traditional Greek dances will follow in the Boston Common Park. Six dance groups will participate.

It was also announced that the Greek School pupils will write an essay on the centennial anniversary of the Pontian genocide by the Turks. The best essay will be read at the State House during the celebration on March 29.

Representatives of the Federation will be visiting various states and cities of New England to inform the local Greek-American communities about the parade and the related activities and to distribute parade material.

The next general meeting for the parade will take place on Wednesday March 27 at 07:30 p.m. at the Maliotis Cultural Center in Brookline.

Brookline Bancorp, Inc. (NASDAQ:BRKL) Approves Stock Buyback Program

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Brookline.com
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Brookline Bancorp, Inc. (NASDAQ:BRKL) declared that its Board of Directors has initiated a share buyback plan, which allows the company to repurchase $10.00 million in outstanding shares on Thursday, December 6th. This repurchase authorization allows the bank to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Several equities research analysts recently issued reports on BRKL shares. Zacks Investment Research raised Brookline Bancorp, Inc. from a “sell” rating to a “hold” rating in a research report on Thursday, September 20th. BidaskClub raised Brookline Bancorp, Inc. from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Finally, Sandler O’Neill raised Brookline Bancorp, Inc. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.00.

BRKL traded down $0.21 during trading on Tuesday, reaching $12.86. 383,429 shares of the company were exchanged, compared to its average volume of 411,312. The company has a market cap of $1.05 billion, a P/E ratio of 16.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17. Brookline Bancorp, Inc. has a 52 week low of $12.86 and a 52 week high of $19.35.

Brookline Bancorp, Inc. (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $69.40 million during the quarter, compared to the consensus estimate of $68.80 million. Brookline Bancorp, Inc. had a return on equity of 9.13% and a net margin of 21.27%. As a group, research analysts anticipate that Brookline Bancorp will post 1.05 earnings per share for the current year.

Brookline Bancorp, Inc. Company Profile

Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.

 

Brookline Bancorp, Inc. (BRKL) Reaches New 12-Month Low At $12.91

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Brookline.com
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Brookline Bancorp, Inc. (NASDAQ:BRKL) shares hit a new 52-week low on Monday. The stock traded as low as $12.91 and last traded at $12.92, with a volume of 22231 shares changing hands. The stock had previously closed at $13.07.

Several research analysts recently weighed in on BRKL shares. BidaskClub cut Brookline Bancorp, Inc. from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Sandler O’Neill upgraded Brookline Bancorp, Inc. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Thursday, December 20th. Finally, Zacks Investment Research upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.00.

The stock has a market cap of $1.05 billion, a P/E ratio of 16.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17.

Brookline Bancorp, Inc. (NASDAQ:BRKL) last posted its quarterly earnings data on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $69.40 million during the quarter, compared to analysts’ expectations of $68.80 million. Brookline Bancorp, Inc. had a return on equity of 9.13% and a net margin of 21.27%. Analysts forecast that Brookline Bancorp, Inc. will post 1.05 EPS for the current fiscal year.

Brookline Bancorp, Inc. announced that its board has approved a share buyback plan on Thursday, December 6th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the bank to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of the company. BlackRock, Inc. increased its position in shares of Brookline Bancorp, Inc. by 4.9% in the third quarter. BlackRock, Inc. now owns 11,699,175 shares of the bank’s stock valued at $195,375,000 after buying an additional 549,170 shares in the last quarter. Vanguard Group, Inc. increased its position in shares of Brookline Bancorp, Inc. by 3.4% in the third quarter. Vanguard Group, Inc. now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after buying an additional 260,206 shares in the last quarter. Vanguard Group, Inc. increased its position in shares of Brookline Bancorp, Inc. by 3.4% in the third quarter. Vanguard Group, Inc. now owns 7,952,147 shares of the bank’s stock valued at $132,801,000 after buying an additional 260,206 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Brookline Bancorp by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,392,718 shares of the bank’s stock valued at $106,759,000 after buying an additional 37,144 shares in the last quarter. Finally, Renaissance Technologies, LLC increased its position in shares of Brookline Bancorp, Inc. by 7.6% in the third quarter. Renaissance Technologies, LLC now owns 1,653,300 shares of the bank’s stock valued at $27,610,000 after buying an additional 116,300 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Brookline Bancorp, Inc. Company Profile

Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.

 

Merry Christmas

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Brookline.com
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“Glory to God in the highest heaven, and on earth peace to those on whom his favor rests.”

Luke 2:14

 

Brookline Bancorp, Inc. (BRKL) Under The Watchful Eye Of Investors

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Brookline.com
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The Money Flow Index of Brookline Bancorp, Inc. (BRKL) this week has place the shares on the radar as it nears the key 20 or 30 level.  At the time of writing the MFI is dropping below 30 and trending lower for the name. The Money Flow Index creates a ratio of Positive Money Flow and Negative Money Flow over time and scales it to a number between 0 and 100. The MFI value can be used to evaluate overbought and oversold conditions in a security the index moves above or below a certain reference level. Divergence between MFI and the price direction can also be indicative of a reversal. If price is trending higher and MFI is decreasing over that period, a market top may occur.

Tackling the stock market may involve many different aspects. Investors may at times feel like they are on a wild ride. Sometimes there are extreme highs, and sometimes there are extreme lows. Figuring out how to best deal with fluctuations can help the investor’s mindset. Investors who are able to keep their emotions in check might be one step ahead of the rest. Being able to identify emotional weaknesses can help the investor avoid tricky situations when things get hairy. Keeping the stock portfolio on the profitable side may involve making decisions that require emotional detachment. When emotions are running high, it may impair the rational decision making capability of the investor.

Turning now to some additional numbers, the Relative Strength Index (RSI) is another highly popular momentum indicator used for technical analysis. The RSI can help display whether the bulls or the bears are currently strongest in the market. The RSI may be used to help spot points of reversals more accurately. The RSI was developed by J. Welles Wilder. As a general rule, an RSI reading over 70 would signal overbought conditions. A reading under 30 would indicate oversold conditions. As always, the values may need to be adjusted based on the specific stock and market. RSI can also be a valuable tool for trying to spot larger market turns. Brookline Bancorp, Inc. (BRKL) has a 14-day RSI of 23.90, the 7-day is at 15.10, and the 3-day is resting at 8.65.

Brookline Bancorp, Inc. (BRKL) currently has a 14-day Commodity Channel Index (CCI) of -144.54. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Brookline Bancorp, Inc. Company Profile

Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.

 

Boston Plastic Surgeon, Dr. Sean Doherty, Named One Of America’s Top Doctors

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Brookline.com
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Sean Doherty, MD
Sean Doherty, MD

The Boston Center for Facial Rejuvenation is proud to announce that its own, Sean Doherty, MD, has been named one of America’s Top Doctors for 2018. This annual list, put out by healthcare advocate Castle Connolly, spotlights the nation’s top physicians. This marks the second time Dr. Doherty has made it to the top tier of Castle Connolly’s rankings.

Established in 1991, the Castle Connolly list of America’s Top Doctors was created as a way to connect patients with the best healthcare professionals in their area. Nominated by their peers, Castle Connolly awards are open to all board-certified MDs and DOs in the United States. Every year, thousands of doctors receive an online nomination, however, less than 5% will take home the award.

To qualify for the Castle Connolly Top Doctor award, nominees are carefully scrutinized by a research team of notable physicians. Winners are chosen based on their unique qualifications, training, hospital appointments, disciplinary histories and performance ratings. Only those with a demonstrated commitment to exceptional patient care can take home the coveted Castle Connelly title of America’s Top Doctor for their region.

Dr. Doherty is an award-winning plastic surgeon, named a RealSelf Top Doctor and one of Boston Magazine’s Top Doctors for 2017. The Castle Connolly title of America’s Top Doctor is of particular significance, as the honor is bestowed by Dr. Doherty’s fellow physicians. With a background in classical art, along with extensive reconstructive and cosmetic surgery training, Dr. Doherty brings his patients an innate eye for physical proportions and aesthetic enhancement. He explains, “Most patients come for subtle, refined improvement on what they have. That is what I hope for them as well. No one wants to walk out of here looking overdone, it is not the philosophy and not in the interest of most patients,”. Dr. Doherty then continues, “This office is very open to talking to patients about what they want. (We are also) open to telling patients what they shouldn’t have,”.

About Dr. Doherty

Board-certified by the American Board of Plastic Surgery, Dr. Doherty has more than 10 years of cosmetic and plastic surgery experience. Over his distinguished career, Dr. Doherty has developed his own surgical techniques for procedures such as breast augmentation, liposuction and the Mommy Makeover. In addition to surgical and noninvasive techniques for women, Dr. Doherty also offers a variety of treatments specifically designed for the male patient. Dr. Doherty is a part of the Boston Center for Facial Rejuvenation, along with Leonard Miller, MD, FACS, FRCS. He currently serves as Medical Director and Principal Investigator for Cynosure.

For more information on any of Dr. Doherty’s surgical or noninvasive procedures, contact the Boston Center for Facial Rejuvenation at 617-735-8735, or fill out the online Contact Us form. Consultations with Dr. Doherty are available both in Boston and Brookline.

For additional information on Castle Connolly’s nomination process, and the full list of America’s Top Doctors for 2018, please visit here.

Brookline office address:

1 Brookline Place
Suite 427
Brookline, MA, 02445

 

Brookline Police Arrest Alleged Package Thief

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Brookline.com
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Brookline police arrested a man who was allegedly stealing packages from homes on Beacon Street.

The suspect, Kelvin B. Garcia, 34, of Jamaica Plain, is accused of stealing packages from residences in the 1300 block of Beacon Street, according to police.

On Tuesday morning Brookline police tweeted that the arrest was made overnight and he is due to be arraigned Tuesday in Brookline District Court.

 

Newbury College, Brookline, And 30 Years Of Wealth Concentration

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Brookline.com
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I grew up in Brookline, MA about a mile away from Newbury College. The news that Newbury is making plans to shut down hits close to home.

The conventional wisdom as to why schools like Newbury College are no longer economically viable revolve around factors such as unfavorable demographics and cost disease. Too few traditional-age students combined with fixed costs for people and operations that are too high.

The twin challenges of demographics and cost disease have forced schools to up their discount rates to attract paying students to unsupportable levels. At the same time, colleges and universities have been forced into an expensive amenities arms race, building fancy student centers and recreational facilities, in order to hope to attract a diminishing number of paying students.

This story to explain the closing of schools like Newbury College is mostly right. Throw in competition from new online education entrants in the adult learning market, season with a dash of skyrocketing employee healthcare costs and rising building maintenance expenses, and you have the recipe for institutional fragility.

The case of Newbury College also points some bigger – and perhaps more worrying – trends.

While I grew up in Brookline, I would have a hard time affording to live in Brookline today. My Mom purchased the two-family house that I grew up in in the 1970s for under $100,000. Last time I looked on Zillow, my childhood home was valued at around $2 million.

The Brookline that I grew up in during the 1970s and early 1980s was economically diverse. My friends’ parents worked as social workers, academics, and school teachers. A large number of my childhood friends were the kids of immigrants, and their parents ran small businesses such as restaurants.

Brookline today reflects a broader trend toward wealth concentration and economic sorting. The median property value in Brookline is over $750,000. What was once a town of school teachers and social workers is now populated by medical sub-specialists, data scientists, financial professionals, and lawyers.

Schools like Newbury College were not built to serve the wealthy. Less than one-in-five Newbury students come from families earning more than $110,000 per year. The median family income of Newbury College students is less than $60K a year. According to the Newbury website, over 90 percent of the student body receives some form of financial aid.

We seem to be on a headlong rush to a future where only institutions and organizations that are designed to serve the needs of the privileged few will be economically resilient.

Newbury College seems to be out-of-step with the gentrification of Brookline, MA. Private schools that do not serve the wealthy few can no longer survive by serving the middle and lower income many.

What will become of Newbury College once it closes? One clue might come from the Brookline candy store Irving’s, a place that I spent way too much time in growing up. Today, Irving’s is now The Irving, having been newly converted into luxury condos selling for over $2 million.

The market in Brookline cannot seem to support private liberal arts schools dedicated to providing economic opportunity to a wide range of students. The market will support, I suspect, a conversion of Newbury’s academic and student buildings into luxury residences for Brookline’s wealthy residents.

The story of Newbury College is not only a higher ed story.

Newbury’s impending demise is part of a larger story of diminished opportunities and elevated risk for all those not in the top income quintile.

Joshua Kim, PhD

Brookline Bancorp, Inc. (NASDAQ:BRKL) Board Of Directors Approves Stock Repurchase Plan

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Brookline.com
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Brookline Bancorp, Inc. (NASDAQ:BRKL) announced that its board has initiated a share repurchase program, which authorizes the company to buyback $10.00 million in shares on Thursday, December 6th. This buyback authorization authorizes the bank to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

BRKL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Brookline Bancorp, Inc. from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of Brookline Bancorp, Inc. from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.67.

Shares of NASDAQ:BRKL opened at $13.97 on Tuesday. The company has a market cap of $1.14 billion, a P/E ratio of 14.00 and a beta of 0.89. Brookline Bancorp, Inc. has a 12 month low of $13.88 and a 12 month high of $19.35. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17.

Brookline Bancorp, Inc. (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $69.40 million during the quarter, compared to analysts’ expectations of $68.80 million. Brookline Bancorp, Inc. had a net margin of 21.27% and a return on equity of 9.13%. As a group, equities research analysts anticipate that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a dividend of $0.105 per share. The ex-dividend date was Thursday, November 8th. This represents a $0.42 annualized dividend and a yield of 3.01%. This is a boost from Brookline Bancorp’s previous quarterly dividend of $0.10. Brookline Bancorp, Inc.’s payout ratio is currently 52.50%.

Brookline Bancorp, Inc. Company Profile

Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.

 

Eagle Asset Management, Inc. Increases Holdings In Brookline Bancorp, Inc. (BRKL)

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Brookline.com
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Eagle Asset Management, Inc. lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 458,393 shares of the bank’s stock after purchasing an additional 13,449 shares during the period. Eagle Asset Management, Inc. owned about 0.57% of Brookline Bancorp, Inc. worth $7,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in Brookline Bancorp, Inc. by 5.2% in the 2nd quarter. Rhumbline Advisers now owns 193,971 shares of the bank’s stock valued at $3,608,000 after acquiring an additional 9,626 shares during the last quarter. First Republic Investment Management, Inc. acquired a new position in Brookline Bancorp, Inc. in the 2nd quarter valued at $431,000. Victory Capital Management, Inc. raised its holdings in Brookline Bancorp, Inc. by 49.4% in the 3rd quarter. Victory Capital Management, Inc. now owns 41,300 shares of the bank’s stock valued at $690,000 after acquiring an additional 13,662 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Brookline Bancorp, Inc. by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,051,264 shares of the bank’s stock valued at $17,556,000 after acquiring an additional 157,280 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Brookline Bancorp, Inc. by 3.5% in the 3rd quarter. First Trust Advisors LP now owns 142,323 shares of the bank’s stock valued at $2,377,000 after acquiring an additional 4,781 shares during the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

NASDAQ:BRKL traded down $0.10 during trading hours on Friday, hitting $14.14. The company had a trading volume of 242,052 shares, compared to its average volume of 310,556. Brookline Bancorp, Inc. has a fifty-two week low of $14.10 and a fifty-two week high of $19.35. The company has a market cap of $1.14 billion, a P/E ratio of 17.68 and a beta of 0.89. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

Brookline Bancorp, Inc. (NASDAQ:BRKL) last announced its quarterly earnings results on Wednesday, October 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Brookline Bancorp, Inc. had a return on equity of 9.13% and a net margin of 21.27%. The firm had revenue of $69.40 million during the quarter, compared to the consensus estimate of $68.80 million. On average, sell-side analysts forecast that Brookline Bancorp, Inc. will post 1.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were given a $0.105 dividend. This is a boost from Brookline Bancorp, Inc.’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, November 8th. Brookline Bancorp, Inc.’s dividend payout ratio is presently 52.50%.

Brookline Bancorp, Inc. declared that its board has authorized a share repurchase plan on Thursday, December 6th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the bank to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Brookline Bancorp, Inc. from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. BidaskClub downgraded Brookline Bancorp, Inc. from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.67.

Brookline Bancorp, Inc. Company Profile

Brookline Bancorp, Inc. operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank (First Ipswich) and its subsidiaries, and Brookline Securities Corp. As a commercially focused financial institution with 50 full-service banking offices throughout greater Boston, the north shore of Massachusetts and Rhode Island, the Company, through Brookline Bank, BankRI and First Ipswich (individually and collectively the Banks), offered a range of commercial, business and retail banking services, including cash management products, online banking services, consumer and residential loans and investment services throughout central New England, as of December 31, 2016.

 

Introducing Yoetzet Halacha Sarah Cheses

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Sarah Cheses
Sarah Cheses

We are delighted to introduce Sarah Cheses, the first Yoetzet Halachaserving the Greater Boston Community under the auspices of the newly founded New England Yoetzet Halacha Initiative (NEYHI).

As a Yoetzet, Sarah Cheses will serve as an advisor to couples on Taharat HaMishpacha (Jewish law relating to married life) and its intersection with women’s health. She can be reached for consultations via phone or text at 339-364-2848 or via e-mail at NE.yoetzet@gmail.com.

The best hours to contact Sarah are 09:00 a.m. to 03:00 p.m. and 08:00 p.m. to 10:00 p.m. Sarah will also give a number of lectures each year in Brookline and other communities in the Greater Boston area. For more information and to stay connected, please visit NEyoetzet.org and sign up for the mailing list. Sarah plans to consult with one’s congregational rabbi on any questions in need of a psak (decision).

The New England Yoetzet Halacha Initiative is made possible through the annual commitment of Young Israel of Brookline and other local shuls as well as private donations.

Our hope is that through this initiative, more women will feel encouraged and supported in their diligent efforts to keep Taharat Hamishpachah and become more aware and knowledgeable about important key women’s health issues.

As a member of the Young Israel of Brookline, please help us welcome Sarah into her new role by making a donation to this wonderful initiative.

Sarah Cheses

Sarah, originally from Columbus, Ohio, recently moved to Sharon, Massachusetts with her family, where her husband, Rabbi Noah Cheses, is serving as the Rabbi of the Young Israel of Sharon. Sarah is a graduate of the Keren Ariel Yoetzet Halacha Program at Nishmat: The Jeanie Schottenstein Center for Advanced Torah Study for Women in Jerusalem and holds both a Master’s degree in Public Health from Columbia University and a B.A. in Biology with Honors from Yeshiva University’s Stern College for Women. Sarah has previously taught at Ulpanot Orot High School in Toronto and at Ma’ayanot Yeshiva High School for Girls in Teaneck, NJ. She has been involved with informal Jewish education through her role as Co-Director of the Seif Jewish Learning Initiative on Campus (JLIC) at Yale University, as a part-time JLIC educator in Toronto-area universities, and through Camp Stone and NCSY.

 

Community Shabbat Dinner & Lecture Series

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The event, organized by Young Israel Of Brookline, will take place on Friday, December 21st, 05:15 p.m.

Please join us for the first of our three Winter Shabbat Dinner and Lectures over the coming months. Each Friday night an intimate group of no more than 50 people will enjoy a catered dinner with old and new friends and Rabbi Hellman and his family. After dinner a distinguished scholar will lead a stimulating lecture and discussion.

The first dinner will feature Dr. David Rosmarin, Director of the Spirituality and Mental Health Program at Mclean Hospital and professor at Harvard Medical School, who will speak on “Spirituality and Mental Health: What Does Research Have To Say?”

Reservations are required:

  • $24 for adults and children ages 11+;
  • $28 for non-members;
  • $5 for children ages 2-10; $8 for non-members;
  • no charge for children under 2-years old.

Please register here. Registration deadline is Tuesday, December 18th. Be a listed sponsor for the evening for an additional $36.

Mark your calendars now for the remaining Community Shabbat Dinner and Lectures:

  • February 1, 2019: Professor Reuven Kimelman, noted historian and author, will speak on “The History of Lecha Dodi and the Creation of Kabalat Shabbat.“
  • March 1, 2019: Professor Lila Kagedan, bioethicist and hospital chaplain, will speak on “Medical Ethics: Comparing Jewish and other Perspectives.”

For more information or questions, please contact the YIB office.

Newbury College In Brookline To Close Next Year

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Newbury College, a small liberal arts college in Brookline, MA,  says it is shutting its doors after years of financial struggles.

The college announced Friday that it will close after this academic year. It follows several other small private schools that have shuttered in recent years.

President Joseph Chillo says that despite a “tremendous effort” to stay open, the school fell to “weighty financial challenges.”

The Brookline school’s enrollment had fallen by nearly half over the past decade, to just 620 students last year. In June, the school’s accreditation agency put it on probation in light of its budget woes.

School officials say they are working to help students transfer to nearby colleges and universities.

The move comes after other small Massachusetts schools have closed amid financial pressure, including Mount Ida College and Marian Court College.

 

Aura Properties Breaks Ground On Brookline Mixed-Use Project

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420 Harvard Street, Brookline, MA 02446
420 Harvard Street, Brookline, MA 02446

Aura Properties, together with partners Kaplan Construction, has begun construction on JFK Crossing, a new five-story, 42,000-square-foot mixed-use building in Brookline, MA.

“There is always a need for more vertical housing in the densely-populated Coolidge Corner,” a spokesperson for Kaplan Construction told the media. “The retail space on the first floor will mesh well with the heavy commercial presence in the neighborhood.”

Located at 420 Harvard Street, the new development was designed by Embarc Studio and is expected to be completed next August. Kaplan Construction demolished a three-story commercial building in the space where the new building is going up.

“Kaplan Construction knows Brookline well and specializes in working on tight urban sites,” Jonathan Berit-Parkes, Aura Properties’ director of construction, said. “We were impressed with their mixed-use and multi-family experience and eagerly anticipate the completion of another successful project.”

The property—named after its nearness to John F. Kennedy’s former family home—will offer 25 units ranging from studio to three bedrooms, with a quarter of the units set aside for affordable housing. The podium-style building will offer underground vehicle parking, bicycle parking, a large outdoor patio with hard and soft-scaping and common space next to the lobby.

The building’s design, which includes brick and glass textures at the building’s base, are in line to the context and scale of the neighborhood.

JFK Crossing will also feature two retail spaces on the first floor.

This is the current view of the location.

Around town

When completed in August 2019, JFK Crossing will be right at the hub of one of Boston’s bustling neighborhoods, situated at the corner of Fuller Street and Harvard Street, directly across from a busy municipal parking lot. A kosher grocery stores is right next door, and there is also a large contingent of storefronts on both sides of Harvard Street.

Some of the challenges Kaplan faced was dealing with a nearby single-family home, as well as protecting the grocery store during construction. Other constraints include mature, high-value honey locust trees and a large, high-pressure MWRA water main serving Boston on two sides of the site.

According to the Kaplan spokesperson, a modified earth retention system was developed and implemented to avoid damaging the roots of the valuable street trees and to protect the water main from underground settlement or deflection.

 

Community Blood & Bone Marrow Drive

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The drive, organized by Young Israel Of Brookline, will take place on Sunday, December 16th, 09:00 a.m. – 02:30 p.m.

This is a special opportunity to help save peoples lives… and what better way to do so, than with your friends and family by your side.

Please sign-up for an appointment to donate blood here. Those with appointment will be prioritized over walk-ins.

We are in need of volunteers to help with operations on the day of the drive, so if you are interested, please sign up here.

For additional information, please contact Leah Solodokin.

 

Natick Defeats Brookline In Season Opener

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The Natick boys indoor track team defeated Brookline High in their season opener at the Reggie Lewis Center in Boston.

The Red Hawks won 64-35.

Natick swept the hurdle event. Senior Dan Dubsky won the race in 8.15 second. Junior Shawn Thornhill finished second in 9.27 seconds, with sophomore Daniel Bartlett third in 9.37 seconds

Dubsky finished second in the long jump for the Red Hawks, with a leap of 18 feet and 1.25 inches.

The Warriors won the 4 X 400 relay in 3:41.46 minutes. The Red Hawks won the 4 X 200 relay.

Senior Matthew Hodges won the shot put event with a throw of 38 feet and 6.25 inches. Brookline’s Kobe Yossef finished second. Natick junior James Grieshaber finished third in 34 feet and 10.5 inches.

Natick finished 1-2 in the high jump Sophomore Daniel Bartlett won the event with a personal record leap of 5 feet and 4 inches. Junior Cajetan Evans finished second with a personal record of 5-feet, 2-inches.

Evans also won the 1,000 meter race with a personal best 2:39.91 minutes.

Sophomore Nicholas Melisi won the 1 mile event with a person record of 4:49.83 minutes for Natick.

Junior Matt George won the 2 mile event in 10:12.10 minutes, a personal record for the Red Hawk.

Natick finished 1-2 in the dash. Junior Austin Kay won the race in a personal record of 7.03 seconds. Senior Allik had a personal record of 7.06 seconds.

Senior Grady Beauregard won the 300-meter race in 37.73 minutes.

Natick senior Joel Maichen finished first in the 600-meter race in 1:28.97 minutes, Brookline took second and third place.

 

Brookline Police Ask Residents To Share Security Camera Footage

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The Brookline Police Department is asking residents who have security cameras pointed outside toward their street to come register with them if they would be willing to share footage with the department to help police investigate crimes in their neighborhood.

The plan, “Operation Community View,” is a result of increased video surveillance use by citizens at their own residences. There have been cases in which security camera footage provided by a citizen has helped police solve a crime, and while the city is hesitant to install surveillance around town, using private security cameras could be a helpful workaround for police.

“This isn’t Big Brother watching,” Deputy Superintendent Michael Gropeman told the media. “This is just the new era of crime watch and this is 100 percent voluntary.”

After a resident has registered with the department, Brookline Police will only ask to see their video footage if the department is investigating specific crimes that took place in the resident’s neighborhood.

“A number of crimes that have occurred in less urban areas, we really could have gotten some type of help if we had something in place like this,” he said.

Instead of officers having to knock on doors and ask if someone has cameras facing the street, being able to access a contact list for people whose security system has cameras facing the street could expedite the crime-solving process. The list would be private and used only by detectives in a situation where footage could help save valuable time in an investigation.

Video footage has helped Brookline police solve crimes before, such as a horrific 2009 incident in which a woman was abducted and sexually assaulted before her assailants returned her to Harvard Street.

“It was such an unbelievable crime, had we not had video we might not be able to solve it,” Gropeman said. “The fact that we were able to make an arrest because of that says a lot about the future of cameras and crime detection.”

After that case, the police created a list of businesses with security cameras so they could reach out to them more quickly when looking for useful video footage after a crime.

“It would help us solve crimes and bring the crime rate down,” Gropeman said.

According to Gropeman, police think the system could be useful in a variety in instances, from helping find people with mental or emotional needs who wander and get lost to catching thieves who take packages off porches.

 

Woman Suffered A Cardiac Arrest In The Middle Of A Classical Concert

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On Sunday afternoon at St. Paul’s Episcopal Church, local chamber music ensemble Mistral were playing works by Elgar and Purcell.

The concert, which had the title “The Walk to the Paradise Garden”, took place in Brookline, MA.

After the second piece, 89-year-old Ingrid Christiansen went into cardiac arrest in her front-row seat.

Mistral cofounder and artistic director Julie Scolnik, who plays flute in the ensemble..

Scolnik had just raised her flute to begin Vaughan Williams’ Phantasy Quintet when her husband, Mistral cofounder and physicist Michael Brower, tapped her on the shoulder, alerting her to an incident in the audience.

Christiansen had fallen unconscious and was slumped over another patron, who caught Brower’s attention. Brower called out to ask if there was anyone with medical training present.

Four physicians, all women, were seated nearby and rushed to examine her.

Anne Stack, an emergency physician, told the media: “Christiansen was already blue, without a pulse or respiration. We laid her on the floor and asked for 911 to be called, and [a defibrillator], and began CPR.”

Stack monitored her for a heartbeat while another doctor gave her chest compressions, the third performed rescue breaths, and the fourth examined another pulse point.

After two minutes of CPR, Stack felt a strong pulse. A few seconds later, Christiansen started gasping and moving, and she opened her eyes.

“When she came to, I think the first thing she said was, ‘What are you doing?’” said Stack. Asking Christiansen if she had any medical conditions, she replied that she had a pacemaker.

An ambulance arrived quickly to transport Christiansen to a hospital – but she was not too keen to go.

Brower travelled with Christiansen in the ambulance to Beth Israel Deaconess Medical Center. The next day, Scolnik also paid her a visit with her flute, and played a Bach partita at her hospital bedside.

Christiansen, who lives alone in Brookline, does not remember much about her incident.

 

Brookline Pilot Who Crashed During WWII Accounted For

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U.S. Army Air Forces pilot 1st Lt. Allen R. Turner
U.S. Army Air Forces pilot 1st Lt. Allen R. Turner

A U.S. Army Air Forces pilot from Massachusetts whose plane crashed during World War II has been accounted for.

The Defense POW/MIA Accounting Agency announced Tuesday that 1st Lt. Allen R. Turner, of Brookline, was accounted for in September.

The 25-year-old Turner was the pilot of a C-109 aircraft on July 17, 1945, flying from India to China over what airmen called “The Hump,” an area of the eastern Himalayas.

The plane crashed in a remote area and after an extensive search all four people on the aircraft were declared dead.

The wreckage was found by an independent investigator in 2007, and in 2009 an area resident turned over bone fragments he found at the site.

Turner’s remains were identified through DNA analysis, as well as circumstantial and material evidence.

 

Australian Man Convicted Of Making Threats Against Brookline Police

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An Australian man is facing criminal charges in the United States following his conviction for making threats to Brookline police in December of last year.

Officers in Brookline received word from the Moorabbin Crime Investigation Unit in Australia that a man was convicted of stalking and making threats against the department, according to police.

It is unclear whether the man, whose name was not released, will be brought to the United States to face charges.

 

Brookline Family’s Cat Survives 9-Story Fall From Balcony Onto Concrete Patio

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A Brookline family’s cat is lucky to be alive after falling from a nine-story balcony on Halloween and landing on a concrete patio below, the MSPCA’s Angell Animal Medical Center said.

Simba, who lives with the Jardus family, somehow slipped off the balcony and plunged to the ground, shattering his jaw and two of his legs and nearly rupturing his lungs.

Simba laid by the side of the building, enduring overnight temperatures that fell into the 20s before he was found the next afternoon, according to Victoria Jardus.

“Simba was in shock when he first arrived and it’s quite miraculous that he survived at all,” Dr. Virginia Sinnott of Angell’s Emergency & Critical Care Unit said. “His temperature had dropped to 86 as opposed to 100, which is the normal body temperature for a cat, and he suffered multiple injuries that could easily have killed him.”

Simba spent eight days in the hospital, during which time veterinarians applied splints to help his leg heal, according to officials. His jaw fractures went on to heal on their own.

Jardus says Simba is still recovering but that the worst is behind him.

“He is through the worst of it and for that we’re so grateful,” she said. “We came so close to losing him and I’m overjoyed to see him improve a little each day.”

Dr. Emily Ulfelder says it’s extraordinary Simba survived given the height from which he fell.

“Many pets die from falling from windows or patios that are not even half as high,” she said. “He is so lucky to have landed the way that he did, as the fall alone could easily have killed him.”

Simba is said to be walking, breathing and eating well.

 

Large Menorah Stolen From Outside Brookline Synagogue

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Police in Brookline are trying to figure out who stole and damaged a 6-foot tall, 300-pound menorah from outside a synagogue before abandoning it about a mile away.

The steel menorah was found in Boston’s West Roxbury neighborhood on Wednesday morning after being taken from outside Temple Emeth in Brookline.

Rabbi Alan Turetz said he hopes the theft was not a hate crime and that police told him someone may have stolen it to sell as scrap. He said there was no graffiti left on the temple.

Turetz said he hopes to repair and reinstall the menorah.

The congregation was founded in 1939 and the temple was built in 1948.

There was no word on arrests.

 

A Wedding Rehearsal Dinner Sets The Stage For Intrigue

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The events of this novel unfold over the course of an evening in 1991, as the Cohen clan of Brookline, MA, hosts a rehearsal dinner with the Barlows, whose daughter Eliza is marrying their son Adam.

The outdoor table is set for 25, which will include a rogue child who wanders over from next door. Before the evening is through, alliances will be formed, vows broken, and secrets shared.

Literary critic Celia Cohen and her absent-minded, brilliant husband, Pindar, wonder what on earth they have in common with the Barlows, a family of lawyers.

The Cohen children are nonconformists: Adam, the bridegroom, is a poet teaching at Wellesley; Sara, who studies scorpions, has begun an affair with a Jesuit priest; and Naomi, home from a harrowing trip as a relief worker, hides in her room until the last minute.

Eliza Barlow, the bride, is in tears before the rehearsal dinner has even begun. Three of her four brothers are on the verge of divorce, and only her twin, Harry, is able to calm her down.

Each family secretly feels sorry for the other. The Cohens fear the Barlows will be judgmental. The Barlows do find the Cohens to be “academic” and “physically strange,” “missing out on the vastness and clarity of the real.”

Illustrating the point, Adam’s father, Pindar, a scholar of ancient recipes, wants only to get back to his intellectual musings. As his wife bustles about making ready, he can only ask plaintively, “They won’t stay terribly late, will they?”

The characters embody a certain kind of old-money world, one in which eccentricities abound, reminding one of Nancy Clark’s “The Hills at Home” or a New Yorker short story.

What keeps “The Garden Party” engaging is its pitch-perfect voices.

Grace Dane Mazur juggles the humorous and profound around this dinner table (about twice the size of the Last Supper), where dozens of conversations, connections, and conspiracies seem to be going on at once.

Meanwhile, the bride and bridegroom roam about the property, looking to escape the craziness. We leave it for the reader to discover what they’re really up to.

“The Garden Party” strikes a few false notes — occasionally the prose is too self-consciously purple — but there is so much richness here you will want to stick around until the last course.

To buy the novel, please visit here.

 

Help Identify A Vandal

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The Brookline Police Department are looking to identify a young suspect who is believed to be responsible for spray painting tags.

The young man in glasses appeared on surveillance footage tagging buildings around October 20.

A photo of the suspect is attached.

Anyone with information is encouraged to call Officer Tim Stephenson 617-730-2184 or e-mail tstephenson@brooklinema.gov.

All tips will be kept confidential.

Off-Duty Brookline Firefighter Saves Couple After Car Plunges Off Charlestown Pier

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An off-duty Brookline firefighter who happened to be in the right place at the right time is being credited with saving a couple’s life after their car plunged off a pier in Charlestown on Wednesday night.

Brian Mulkern was at the Pier 6 restaurant before attending his class at Bunker Hill Community College when he heard a bang and spotted a vehicle teetering on the edge of the pier.

Brian Mulkern
Brian Mulkern

“I heard a big bang and then I heard some people yell for help,” he said.

Mulkern said he was able to flag down bystanders to secure the car, which was resting nose down on a dock, while he called 911.

“My big concern, as far as life safety, was if the car was to slide out, it would have ended up in the water,” he said.

Mulkern then swooped in and pulled a man and woman to safety.

“The tough part with him was how he was positioned. I kind of had to grab under the car a little, use the steering wheel as my balance point, ease him out and slide him down,” he said. “There was another civilian luckily there to shift him because I was kind of hanging over the water.”

The driver hit the wrong pedal while parking at the restaurant and the car lurched forward over a wall.

“They were the heroes,” the driver told the media. “They came down instantly and saved us.”

Mulkern, who is studying nursing in addition to being a firefighter, said he did not think twice about jumping into action.

“We do a lot of training with this kind of stuff,” he said. “It helps you to be calm in the situation. I couldn’t have done it by myself.”

The couple was not injured and went inside for dinner following the incident.

 

The Fight Over Recreational Marijuana Continues In Brookline

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Recreational marijuana stores are almost ready to open their doors in Massachusetts, two years after state voters approved legalizing recreational pot.

But these openings do not mean the fight over marijuana has ended. In fact, in some communities it has only just begun.

In Brookline, Ascend Massachusetts, a marijuana company, wants to open a store on Beacon Street in the St. Mary’s neighborhood. The company, which is headed by Andrea Cabral, has followed town protocols, held three community meetings, and is trying to secure a host community agreement.

But some community members are pushing back against the store’s chosen location. They argue that the St. Mary’s neighborhood is “the worst possible location“ for a recreational marijuana store.

Brookline Rejects Effort To Ban Secrecy Clauses In Harassment Settlements

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The Brookline town meeting defeated a proposal Tuesday night to do away with secrecy provisions in settlements of racial or sexual harassment claims again the town.

The town has settled four cases in the past two years, at a total cost of more than $700,000, but town officials argued that the settlements and the privacy provisions prevent extended and potentially much more costly litigation.

Jonathan Margolis, a town meeting member who sponsored the measure along with a citizens group called the Brookline Justice League, said more transparency would help expose racism in public agencies. The settlements, advocates argued, let the town sweep allegations of racism or sexual harassment under the rug.

“If you believe that transparency is essential to democracy … if you agree that Brookline should practice what it preaches so loudly as it espouses its progressive ideals, then join me in voting favorable action on the amendment,” Margolis said.

The goal of the measure “is to allow claimants to speak, even after their cases have been settled,” said the Justice League’s Brooks Ames. “And the purpose is to improve things in Brookline.”

But the measure was voted down as town officials argued it would essentially rule out settlements, leading instead to protracted and costly litigation.

“There would be little reason or incentive for the town to enter into settlements of claims, if, after receiving the settlement check and resolving their dispute with the town a claimant could continue to disparage the town and go to the media and publicize their claims and grievances and their version of events, no matter how inaccurate,” said Susan Granoff, presenting on behalf of the town’s advisory board.

If the measure were passed, in cases against municipal employees, local officials would most likely be barred from discussing the allegations, leaving no way to dispute the plaintiffs’ claims, even if they were inaccurate or incomplete, Granoff and other opponents said.

After about 30 minutes of debate, the proposal was defeated in a vote of 102-83.

While many companies and government agencies have grappled with how to handle harassment allegations in the wake of the #MeToo movement, both sides in the Brookline dispute said they believe the proposal before the town meeting would have been the nation’s most sweeping rejection of non-disclosure agreements in civil rights settlements.

 

Pаul Singеr

 

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