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Developer loses bid to halt Coventry tax sale
COVENTRY, R.I. -- A sewer tax-lien sale by the Town of Coventry went forward Tuesday, after the Rhode Island Supreme Court denied developer Nicholas E. Cambio's request to halt the sale of liens against properties at the Centre of New...
January 27, 2012 4:04 pm
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Route 195 Commission to discuss real estate market
PROVIDENCE, R.I. -- Commercial real estate experts, planners and local nonprofit leaders will address the Route 195 Redevelopment District Commission on Monday at its next regular meeting. The commission is expected to hear presentations on the national and regional real...
January 27, 2012 2:37 pm
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R.I. leaders meet on making state more business-friendly
PROVIDENCE, R.I. -- More than 150 business leaders and lawmakers gathered at the Johnson & Wales Culinary Arts museum to work on making the state more business-friendly. It was the sixth-annual economic summit conducted by the Small Business Administration and...
January 27, 2012 12:17 pm
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Carnegie Abbey house sold for $5.2 million
PORTSMOUTH, R.I. -- A house built in 2006 at the Carnegie Abbey Club was sold Thursday for $5.2 million, according to Lila Delman Real Estate. The classic American Shingle style house, at 166 Carnegie Heights Drive, was listed by Melanie...
January 27, 2012 10:56 am
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Tax-the-rich campaign begins at Rhode Island State House
PROVIDENCE, R.I. -- A campaign to "tax the rich'' has begun anew at the State House, with introduction of a bill to add 3 percent to the top income-tax rate paid by taxpayers with with more than $500,000 in annual...
January 27, 2012 10:49 am
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New business starts, and closings up in 2011
A total of 6,846 new corporate entities filed paperwork with the Rhode Island Secretary of State's office in 2011. That's about 70 more new businesses than in 2010. It's also the first time since 2007 that the number of new...
January 27, 2012 8:58 am
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Kostrzewa: Garrahy - a visionary on RI's economy
Rhode Islanders who bemoan the lack of leadership in rebuilding the state's old industrial economy should remember the work of former Gov. Joseph Garrahy, who died Tuesday. Garrahy in 1984 led the campaign for the Greenhouse Compact - a blueprint...
January 27, 2012 8:13 am
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CFO at Woonsocket company to leave
Woonsocket-based Summer Infant said Joseph Driscoll is stepping down as chief financial officer to take a similar position with another unidentified public company. Driscoll has served as chief financial officer since March 2007. He will continue in his current job...
January 27, 2012 8:08 am
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CEO of Citizens' owner gets $1.5 million
The Royal Bank of Scotland, owner of Providence-based Citizens Financial Group, said it would pay its chief executive, Stephen Hester, an all-stock bonus of $1.5 million, less than half what he received last year. The bank, which is 82 percent...
January 27, 2012 7:36 am
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300 urge Warwick City Council to move forward on T.F. Green Airport expansion project
WARWICK, R.I. -- More than 300 people attended a City Council committee meeting Thursday, with speakers urging the city to quickly resolve its differences with T.F. Green Airport and drop a lawsuit that is blocking extension of the airport's main...
January 26, 2012 6:35 pm
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Galilee fishing task force to begin meetings
PROVIDENCE, R.I. -- A task force established in the General Assembly to strengthen the fishing industry based in Galilee will meet for the first time at 3:30 p.m. Tuesday at the State House to review a Cornell University study on...
January 26, 2012 6:06 pm
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Naval Undersea Warfare Center contributed $1.1 billion to economy in 2011
NEWPORT, R.I. -- The Naval Undersea Warfare Center in Newport contributed more than $1.1 billion to the economy in 2011, the center said in a statement Thursday. That $1.1 billion includes $634 million for payroll, construction and facility support and...
January 26, 2012 3:25 pm
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Route 195 Commission OKs engineering contract
PROVIDENCE, R.I. -- The Route 195 Redevelopment District Commission has authorized its selection committee to negotiate and enter into a contract for engineering work by the Providence office of Fuss & O'Neill that won't exceed $257,600. The commission discussed the...
January 26, 2012 10:23 am
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Kostrzewa: Egg McMuffins, iPhones and Martha Stewart
Quarterly, corporate reports can be dull, but look at these nuggets. McDonald's outpaced Wendy's and Burger King with its best sales since 2006 by selling more breakfast items and extending hours. Forty percent of the fast food restaurants are now...
January 26, 2012 8:35 am
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Two banks report improved profits
Two banks that do business in Rhode Island reported improved fourth-quarter results. Washington Trust Bancorp, based in Westerly, reported net income of $7.8 million, or 47 cents a share, compared with $7.2 million, or 44 cents a share in the...
January 26, 2012 8:07 am
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Route 195 commissioners share views, set mission statement
PROVIDENCE, R.I. --- The expertise of individual members of the Route 195 Redevelopment District Commission is crystallizing as they continue to address how to develop prime real estate in the capital city, yet after robust discussion Wednesday, the seven agreed...
January 25, 2012 9:18 pm
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12 financial companies bid to run new R.I. hybrid pension program
PROVIDENCE, R.I. -- A dozen financial companies are bidding to run Rhode Island's new defined-contribution program, created as part of November's pension overhaul. The 401(k)-style program will replace a portion of pensions once fully guaranteed for state and municipal employees...
January 25, 2012 4:34 pm
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Bryant names chief information officer
Bryant University has named Chuck LoCurto, former executive vice president and chief information officer of Textron Financial Corp., as its vice president for information services and chief information officer. "While at Textron, LoCurto led many growth initiatives for Textron Financial...
January 25, 2012 3:00 pm
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Business association cites RI's low national ranking
The National Federation of Independent Business said a new report by the non-profit Tax Foundation that ranks Rhode Island fifth worst in the country for its business climate is an embarrassing distinction that Governor Chaffey and lawmakers should be working...
January 25, 2012 2:56 pm
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Providence's Arcade to reopen in fall as mix of retail, professional lofts
PROVIDENCE, R.I. -- The Arcade, America's oldest indoor mall, will reopen in the fall with a mix of retail and lofts that would retain much of the 1828 building's historic character, owner Evan Granoff said at a news conference Wednesday....
January 25, 2012 12:06 pm
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