RETAIL
L.L. Bean to review its generous return policy
L.L. Bean executives said the company would offer voluntary early retirements, freeze employee pensions, and review its “100 percent satisfaction’’ returns policy, a move that could have reverberations for customers throughout New England and beyond. The generous, century-old policy has allowed customers unhappy with a tent or rubber-soled hunting boots to bring them back, even after years of use, typically with no questions asked. The company also offers free shipping on everything. “Our guarantee is a handshake — a promise that we’ll be fair to each other,’’ the company pledges on its website. “So if something’s not working or fitting or standing up to the task or lasting as long as you think it should, we’ll take it back.’’ But L.L. Bean’s executive board chairman, Shawn Gorman, great-grandson of company founder Leon Leonwood Bean, said in a statement Thursday that the Freeport, Maine, company has been reviewing all aspects of the business and that changes are necessary to keep the privately held retailer competitive. Company officials said the satisfaction guarantee has been abused in some instances, warranting a review. “Fraudulent returns have been a problem, and we are definitely reviewing our policies, but we have made no decisions,’’ L.L. Bean spokeswoman Carolyn Beem said. “We will always stand behind our products.’’ — MEGAN WOOLHOUSE
STARTUPS
Fuze Inc. raises $104 million in latest funding round
It’s impressive when a startup raises $100 million in venture funding. But doing it twice puts Fuze Inc. in rarefied territory. Cambridge-based Fuze, which makes phone, videoconference, and messaging software, said Wednesday that it had raised $104 million. The new investment round, led by Boston financial giant Wellington Management Co., comes about a year after Fuze raised $112 million from private investors. The company, which has about 1,500 corporate customers, has raised more than $300 million since its founding in 2006. Fuze, which has about 700 employees, said it was laying the groundwork for a potential initial public offering, possibly next year. “This fully funds our plan and puts us in a great position,’’ chief executive Steve Kokinos said. “It’s up to us. We’re not going to be in a rush to do anything.’’ The big investments in Fuze stand out in the Boston tech sector. Only one other company, fantasy sports operator DraftKings Inc., reported an investment round of more than $100 million in 2016, according to research firm PitchBook. — CURT WOODWARD
RETAIL
Marshalls, T.J. Maxx remove special displays for Ivanka Trump’s clothes
Marshalls and T.J. Maxx have become two of the most popular discount retailers in the country by offering shoppers an ever-changing selection of bargains. But will their latest merchandising move make an enemy of the president of the United States? The chains may soon find out, after parent company TJX Cos. of Framingham told employees to downgrade the visibility of Ivanka Trump’s clothing and accessories in stores where they previously had their own displays. TJX spokeswoman Erika Towers on Wednesday confirmed that products from the first daughter’s company were being moved onto general merchandise racks. Ivanka Trump in-store signs were to be thrown away, according to the New York Times, which obtained a memo outlining the change ordered last week by TJX. Towers did not respond to specific questions about why TJX made the move, or the number of stores that featured Ivanka Trump displays. But she emphasized that the products will still be sold in the stores. “From time to time, we communicate with our stores about how to handle merchandise. The communication we sent instructed stores to mix this line of merchandise into our racks, not to remove it from the sales floor,’’ Towers said in a statement. The move comes as retailers consider whether to carry products with the Trump name. On one side is an online movement, Grab Your Wallet, calling on consumers to boycott companies with connections to the polarizing president. And on the other are Trump supporters, who have called for consumers to support retailers targeted by Grab Your Wallet, and the president himself, armed with a Twitter account. He put the account to use Wednesday morning by criticizing Seattle-based retailer Nordstrom Inc., which last week said it would no longer sell Ivanka Trump products. — ADAM VACCARO
TAX PREPARATION
Massachusetts drops free online tax filing system
Massachusetts has joined a growing number of states that have ditched their free online tax-filing system, pushing residents to use software developed by private companies, and in some cases to pay for it. Thousands of Massachusetts taxpayers who have been submitting their state tax returns through Webfile for Income, a system in use since 2009, will this year be directed to a coalition of tax-preparation software companies instead. Massachusetts joined the Virginia-based Free File Alliance last fall, and this marks the first full tax season that the state’s tax filers will be using the new system. State officials anticipate that Free File Alliance will save the state money and improve the security of tax returns. The alliance offers tax-preparation software such as Intuit’s TurboTax and H&R Block’s product. The software is free for filers with incomes less than $64,000. Massachusetts revenue officials said that for this tax season, two of the companies in the alliance, Intuit and TaxHawk, are also allowing state residents with higher incomes to file for free. But residents who don’t want to use those programs and want to file electronically will probably have to invest in commercial tax-preparation software, which can cost anywhere from $15 to more than $40. The state decided to decommission Webfile for Income after it upgraded its tax-processing and revenue software. It’s also easier for commercial tax preparers to meet IRS security and antifraud standards, officials said. — DEIRDRE FERNANDES
HEALTH CARE
Low-cost plan by Delta Dental sparks criticism from dentists
A plan by the state’s largest dental insurer to sell new low-cost coverage has sparked an outcry among dentists, who fear the move will cut their incomes and force them to rush through appointments. Delta Dental of Massachusetts, which has about 2.2 million members, says the move is necessary to attract budget-conscious businesses and consumers amid a slowdown in its growth. But dentists are fighting back, arguing that the savings will come at their expense —and might prompt patients to change dentists. Several dentists told the Globe that signing on to the new plan means accepting rates as much as 30 percent lower than they get from Delta now. (The company said that the reduction is closer to 20 percent.) And dentists believe that if they decline the new contract, they risk losing many longtime patients. The rift has grown so wide that dentists are lobbying state legislators, insurance regulators, and the attorney general to intervene. They are also considering legal action to delay or stop Delta’s changes. The stakes are high: As many as a third or half of a typical dental practice’s patients might carry Delta insurance. — PRIYANKA DAYAL MCCLUSKEY
PUBLIC RELATIONS
Rasky and Baerlein part ways
They came together 20 years ago: two friendly rivals who would build one of the city’s most powerful public relations and lobbying firms. Two decades later, Larry Rasky (right) and Joe Baerlein (left) have parted ways. Rasky has bought out Baerlein’s stake in Rasky Baerlein Strategic Communications. The firm has been renamed Rasky Partners, and Baerlein will go out on his own, launching Baerlein & Partners. Rasky simultaneously bought out another partner, former Rasky Baerlein chief executive Ann Carter, who is also leaving to start her own business. The three former partners described the separation as an amicable one, and they declined to disclose the financial terms of the buyout. They said the other nearly 50 employees at Rasky Baerlein will remain at Rasky Partners; Rasky likewise plans to hold onto the firm’s entire client base. Baerlein and Rasky launched Rasky Baerlein in 1997, essentially combining Baerlein’s public affairs unit at Boston law firm Choate Hall & Stewart with Rasky’s PR firm. — JON CHESTO
