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March 2008 Archives
2:04 PM Mon, Mar 31, 2008 | Permalink |
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By Paul Edward Parker  Email
For the third straight year, the Rhode Island Convention Center is changing the price it charges for parking, but this year, while the price will go up for some parkers, it may go down for others. Beginning June 1, the......
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12:34 PM Mon, Mar 31, 2008 | Permalink |
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By Paul Grimaldi Email
Rhode Island's four members of Congress all support a further boost to the U.S. economy in the coming months, they told a business gathering this morning in Warwick. Calling the rebate checks federal taxpayers will receive in the coming months......
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12:13 PM Mon, Mar 31, 2008 | Permalink |
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By John Kostrzewa Email
Pawtucket-based Hasbro (HAS:NYSE) said today that it has purchased for $80 million all of the intellectual property rights related to the Trivial Pursuit brand from Horn Abbot Ltd. and Horn Abbot International Limited. Hasbro has developed, marketed and sold Trivial......
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8:39 AM Mon, Mar 31, 2008 | Permalink |
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By John Kostrzewa Email
Capital Properties, Inc. (CPI:Amex) reported net income of $1.39 million for the year ended December 31, 2007, or 42 cents a share, compared with $1.32 million, or 40 cents a share, for the prior year. Leasing revenues for 2007 increased......
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8:32 AM Mon, Mar 31, 2008 | Permalink |
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By John Kostrzewa Email
William Poole, the former Brown University professor who developed a reputation as an inflation hawk at the Federal Reserve, will retire today as president of the Federal Reserve Bank of St. Louis. Poole, 70, will be replaced by James B.......
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8:24 AM Mon, Mar 31, 2008 | Permalink |
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By John Kostrzewa Email
Providence Equity Partners, the Providence-based buyout firm that targets media and communications companies, this morning said it hired Andrew Tisdale, co-head of Morgan Stanley's global media and communications group, to expand in London. Tisdale, 46, is leaving Morgan Stanley after......
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2:26 PM Fri, Mar 28, 2008 | Permalink |
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By Andrea Panciera Email
PROVIDENCE -- Tens of thousands of National Grid customers will have two extra weeks to pay their utility bills. National Grid announced today that it is extending by two weeks a moratorium on winter service shutoffs. The extension applies to......
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10:55 AM Fri, Mar 28, 2008 | Permalink |
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By John Kostrzewa Email
The Newport City Council is considering an ordinance to ban Segway personal transporters from city streets and sidewalks. The two-wheeled, single-person battery-operated vehicles can go about 12 miles an hour. Riders stand and steer with a handlebar. The city last......
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10:47 AM Fri, Mar 28, 2008 | Permalink |
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By John Kostrzewa Email
Robert Antignano, third-generation owner of Angelo’s Civita Farnese, is scheduled to be honored today at a luncheon at his Federal Hill restaurant for winning the national Jeffrey H. Butland Family-Owned Business of the Year award. One of the special guests......
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10:46 AM Fri, Mar 28, 2008 | Permalink |
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By Paul Grimaldi Email
Foxwoods Resort Casino this week appealed a judge's ruling recommending approval of a unionization vote by the gambling venue's dealers. Dealers at the Connecticut casino voted 1,289 to 852 last November in favor of union representation by the United Auto......
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5:22 PM Thu, Mar 27, 2008 | Permalink |
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By Paul Edward Parker Email
In a further sign of the slackening housing market, the condominium complex behind Providence Place mall, known as The 903 Residences, is for sale. “In this real estate climate, you have to look at all your options,” Frederick J. Vincent,......
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10:53 AM Thu, Mar 27, 2008 | Permalink |
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By Paul Grimaldi Email
Residents of Providence's Valley section will have an easier trip for groceries come Sunday as the PriceRite grocery chain opens a store in the Eagle Square shopping center. The Valley section's gain is Olneyville's loss as the PriceRite operation is......
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6:50 AM Thu, Mar 27, 2008 | Permalink |
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By John Kostrzewa Email
Steve Preston, administrator for the U.S. Small Business Administration, is planning a 24-hour stay in Rhode Island, starting this afternoon, that will include meetings with bankers, small business owners, and public officials, including Gov. Carcieri. Preston is scheduled to meet......
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12:26 PM Wed, Mar 26, 2008 | Permalink |
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By John Kostrzewa Email
With the tax filing deadline on April 15, public officials in Rhode Island are urging seniors and veterans who might not normally file a tax return to do so in order to get a rebate from the federal government. Gov.......
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8:57 AM Wed, Mar 26, 2008 | Permalink |
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By Paul Grimaldi Email
Massachusetts residents fighting over plans for a tribal casino in Middleboro, Mass., last night got aired their views before federal officials who must review the proposal. About 300 people turned out at Middleboro High School for the hearing, many carrying......
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8:05 AM Wed, Mar 26, 2008 | Permalink |
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By John Kostrzewa Email
TJX Cos., the owner of the T.J. Maxx and Marshalls discount chains, said this morning that the Federal Trade Commission is investigating whether the company violated U.S. consumer protection laws related to a computer system break-in it reported last year.......
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7:56 AM Wed, Mar 26, 2008 | Permalink |
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By John Kostrzewa Email
The Rhode Island Chamber of Commerce Coalition, a coalition of thirteen chambers of commerce in the state, will hold a rally at the State House this afternoon to oppose legislation that would raise taxes and levy new taxes. Gov. Carcieri......
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3:39 PM Tue, Mar 25, 2008 | Permalink |
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By Paul Grimaldi Email
A Warwick company that is developing a new skin patch for administering prescription drugs was among three firms "pre-approved" for a new tax-credit program. Under a 2006 state law, the Rhode Island Economic Development Corp. can dole out $2 million......
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2:46 PM Tue, Mar 25, 2008 | Permalink |
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By Lynn Arditi Email
Beacon Mutual Insurance Co. announced today that it will distribute an estimated $7 million in refunds to its policyholders by April 30th. The refunds are part of a consent agreement that the state's dominant workers' compensation insurer signed with state......
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11:25 AM Tue, Mar 25, 2008 | Permalink |
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By John Kostrzewa Email
Providence and Worcester Railroad Company (PWX:AMEX) this morning reported a 2007 loss of $652,000, or 14 cents a share, compared with net income of $1 million, or 23 cents a share in 2006. Operating revenues for 2007 were $26.2 million,......
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8:45 AM Tue, Mar 25, 2008 | Permalink |
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By John Kostrzewa Email
The chief executive of Sovereign Bancorp Inc. received a compensation package last year worth $5.6 million, including a hefty bonus for staying with the thrift, according to a regulatory filing. Joseph Campanelli was given a salary of $826,923 and a......
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8:31 AM Tue, Mar 25, 2008 | Permalink |
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By John Kostrzewa Email
A.T. Cross, of Lincoln, said it completed its all cash transaction to buy Native Eyewear, Inc. to expand its line of sunglasses and goggles. Cross paid $17 million in cash and assumed about $1 million in debt to buy the......
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8:28 AM Tue, Mar 25, 2008 | Permalink |
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By John Kostrzewa Email
Companies that do business in Rhode Island have until March 31 to file their 2008 annual reports with the Rhode Island Secretary of State's office or face the loss of their corporate status. State law requires for-profit corporations to report......
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4:31 PM Mon, Mar 24, 2008 | Permalink |
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By Paul Edward Parker Email
KIK Custom Products began today to tell the 400 workers at its Cumberland plant that the facility will close sometime this year, with a target date of October. Company spokeswoman Kerry Morgan said that some workers will be offered jobs......
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2:32 PM Mon, Mar 24, 2008 | Permalink |
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By John Kostrzewa Email
Senate Pres. Joseph A. Montalbano (D-North Providence) has asked National Grid to voluntarily extend its moratorium on gas and electricity shut-offs on low-income customers until May 1. The moratorium is currently scheduled to end on April 15. The extension would......
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2:29 PM Mon, Mar 24, 2008 | Permalink |
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By John Kostrzewa Email
NewportFed said today that it has signed an agreement with Readco Stonington III, LLC to lease an 11,000 sq. ft. parcel located in the new shopping center development situated at corner of Route 2 and Route 49, in the Town......
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2:28 PM Mon, Mar 24, 2008 | Permalink |
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By John Kostrzewa Email
Gov. Deval Patrick said today that "the fix was in pretty early" against his casino gambling bill, and House Speaker Salvatore DiMasi broke a promise to allow an open floor debate that could have tweaked the proposal to satisfy critics.......
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11:13 AM Mon, Mar 24, 2008 | Permalink |
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By Tim Barmann Email
The average price of regular self-serve gasoline in Rhode Island dropped one cent from last week to $3.189 a gallon, according to a survey of local gas dealers this morning by the Rhode Island Office of Energy Resources. This was......
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8:37 AM Mon, Mar 24, 2008 | Permalink |
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By John Kostrzewa Email
The federal Bureau of Indian Affairs will be in Middleboro, Mass. on Tuesday to hold a public hearing on the plans of the Mashpee Wampanoag Indian tribe to build a gambling facility on 540 acres about 20 miles from Rhode......
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8:18 AM Mon, Mar 24, 2008 | Permalink |
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By John Kostrzewa Email
Despite a slowing economy and rising gas prices, Massachusetts gamblers in 2007 spent more than $1 billion for the fifth year in a row at Connecticut and Rhode Island locations, and about one fifth of it went to Rhode Island's......
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3:53 PM Fri, Mar 21, 2008 | Permalink |
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By John Kostrzewa Email
The company that owns the Twin River gambling facility in Lincoln got another week from its lenders to work out its financial problems, but that wasn't enough to prevent its credit rating from being downgraded. UTGR Inc., which owns Twin......
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11:47 AM Fri, Mar 21, 2008 | Permalink |
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By Andrea Panciera Email
After closing on an up-note yesterday, U.S. stock markets are closed in observance of Good Friday. Take the opportunity to assess where you are financially, and where you might want to be, in the topsy-turvey world of the financial market.......
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7:24 AM Fri, Mar 21, 2008 | Permalink |
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By John Kostrzewa Email
Navy officials have said they plan to sell off up to 350 acres of waterfront land on Aquidneck Island. The land was formerly used by Naval Base Newport, and military officials say they hope to get fair market prices for......
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7:09 AM Fri, Mar 21, 2008 | Permalink |
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By John Kostrzewa Email
Rhode Island's unemployment rate rose 0.1 percent to 5.8 percent in February to reach the highest monthly jobless rate since November 1995, according to a report released this morning by the Rhode Island Dept. of Labor and Training.. The number......
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3:21 PM Thu, Mar 20, 2008 | Permalink |
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By John Kostrzewa Email
Two former CVS executives accused of paying off a state senator have been arraigned for a second time after federal prosecutors issued a slightly revised indictment against them. John Kramer and Carlos Ortiz, both former vice presidents at the pharmacy......
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1:43 PM Thu, Mar 20, 2008 | Permalink |
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By Tim Barmann Email
CNBC is coming to Pawtucket. The cable business news network plans to film three segments for its show, “The Big Idea with Donny Deutsch,” on Monday at Doherty’s East Avenue Irish Pub in Pawtucket. The show looks at new products......
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9:54 AM Thu, Mar 20, 2008 | Permalink |
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By John Kostrzewa Email
The Rhode Island State Senate unanimously approved two new appointments to the Public Finance Management Board. They are: Robert A. Mancini, executive director of the Rhode Island Society of CPAs, and Emanuel (Manny) Barrows, Senior Vice President of Business Lending......
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8:22 AM Thu, Mar 20, 2008 | Permalink |
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By John Kostrzewa Email
Bank of America Corp.’s chaiman and CEO, Ken Lewis, received compensation valued at about $20.4 million in 2007, about 10.7 percent less than a year earlier, as mortgage-related losses eroded profits at the nation’s second-largest bank. The chairman and CEO’s......
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5:41 PM Wed, Mar 19, 2008 | Permalink |
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By Neil Downing Email
If you didn't file a federal income-tax return for 2004, you may be owed some money – but you must move quickly to claim it. The Internal Revenue Service says it is holding $1.2 billion in unclaimed refunds for about......
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2:35 PM Wed, Mar 19, 2008 | Permalink |
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By Tim Barmann Email
A state legislative committee is again considering a bill that would create the Rhode Island Power Authority, a new state agency which would promote renewable energy development in Rhode Island. The House Environment and Natural Resources committee plans to hear......
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12:28 PM Wed, Mar 19, 2008 | Permalink |
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By John Kostrzewa Email
National Grid Plc, owner of electricity networks in Britain and the U.S., may join Emera Inc. and Spectra Energy Corp. in building a $2 billion high-voltage power line to help link generators in Canada with markets in southern New England.......
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12:10 PM Wed, Mar 19, 2008 | Permalink |
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By Paul Grimaldi Email
Subcontractors helping renovate the Twin River slot parlor in Lincoln have moved in the last week to collect about $1 million in unpaid bills from the facility's owner as that company reworks its finances. UTGR Inc., the company which owns......
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10:38 AM Wed, Mar 19, 2008 | Permalink |
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By Paul Edward Parker Email
A Cape Cod couple who owns a livery service based in Harwich, Mass., plans to offer scheduled bus service between the Cape and Rhode Island, with stops at the Providence Amtrak station and at T.F. Green Airport in Warwick, beginning......
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8:34 AM Wed, Mar 19, 2008 | Permalink |
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By John Kostrzewa Email
MetLife Inc., the New York-company that has its MetLife Auto & Home business in Warwick, paid its CEO Robert Henrikson $25 million in salary bonus, stock options, grants and other compensation last year, a 32 percent raise from 2006. Henrikson's......
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3:47 PM Tue, Mar 18, 2008 | Permalink |
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By John Kostrzewa Email
The Johnston Town Council voted 4-1 last night to rezone a hillside Atwood Avenue parcel to accommodate a Wal-Mart Superstore, Sam’s Club and other businesses. The developer promised that the arrival of the two box stores and other businesses, perhaps......
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1:30 PM Tue, Mar 18, 2008 | Permalink |
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By Paul Grimaldi Email
CVS Caremark Corp. said this morning it will pay $37.5 million to settle claims it overcharged states and the federal government for drugs provided to Medicaid patients. CVS pharmacies received prescriptions for tablets and substituted more expensive capsules to increase......
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1:26 PM Tue, Mar 18, 2008 | Permalink |
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By John Kostrzewa Email
Lawrence K. Fish, chairman of Providence-based Citizens Financial Group and RBS America, was paid $2.5 million in salary, bonus and benefits in 2007, according to a report by the companies’ parent, the Royal Bank of Scotland. Citizens previously reported......
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9:24 AM Tue, Mar 18, 2008 | Permalink |
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By Paul Grimaldi Email
The dissident investors seeking to force a sale of Bank Rhode Island are formally pitching other shareholders on the idea, according to documents filed last week with the U.S. Securities and Exchange Commission. PL Capital LLC, an Illinois hedge-fund investment......
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9:02 AM Tue, Mar 18, 2008 | Permalink |
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By John Kostrzewa Email
Farmers, orchard operators and tourism officials are gathering this morning to find ways to promote agritourism - a way to attract tourists and their money to Rhode Island's farms to create jobs and revenue. "Saving farmland is not enough to......
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5:21 PM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
The collapse this weekend of Wall Street investment bank Bear Stearns will send ripples across the Rhode Island economy, according to two New England business experts interviewed today. “The easiest way to envision it, it’s kind of like a spider......
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3:47 PM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
Lawyers for the state are asking Rhode Island's Supreme Court to uphold a two-year-old jury verdict against three former lead paint manufacturers. The state is expected to file court papers later today in response to the companies' appeal of the......
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3:00 PM Mon, Mar 17, 2008 | Permalink |
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By Neil Downing Email
The Internal Revenue Service has set the schedule under which federal rebates will be distributed. The schedule shows that direct deposits will go out first, paper checks later. The distributions will be based on the last two digits of your......
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11:55 AM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
Automobile importer North Atlantic Distribution today is scheduled to begin exporting truck cabins from the pier at the Quonset Business Park, a major shift for the company that could boost employment . Until now, NORAD has concentrated on importing cars,......
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11:52 AM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
The average price of gasoline in Rhode Island rose for the fifth consecutive week, and now matches the all-time high set in the wake of hurricane damage along the Gulf of Mexico coast in September 2005. A survey of local......
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11:46 AM Fri, Mar 14, 2008 | Permalink |
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By Paul Grimaldi Email
Journal archive photo / Frieda Squires Workers put the finishing touches on the new gaming rooms at Twin River last September. LINCOLN -- Dimeo Construction Co. put a lien on the Twin River slot parlor in a move to......
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11:37 AM Fri, Mar 14, 2008 | Permalink |
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By Benjamin N. Gedan Email
The Business Innovation Factory, a nonprofit organization that promotes innovation, has hired Rhode Island School of Design professor Mickey Ackerman to oversee the expansion of its Experience Labs. The labs are meant to conduct "innovation projects that experiment with new......
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5:33 PM Thu, Mar 13, 2008 | Permalink |
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By Benjamin N. Gedan Email
Southwest Airlines, the dominant carrier at T.F. Green Airport, was recently fined $10.2 million for failing to properly conduct safety inspections on its planes. WARWICK - The maintenance concerns at Southwest Airlines have not caused any delays at T.F.......
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12:18 PM Thu, Mar 13, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Bill Murphy A worker signs a beam last summer at the site of Fidelity's newest office tower in Smithfield. SMITHFIELD -- Fidelity Investments has been inviting Rhode Island tourism officials to Boston to sing the......
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11:51 AM Thu, Mar 13, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Mary Murphy Workers operate heavy equipment last May at the Dunkin' Donuts Center. PROVIDENCE -- Gilbane Inc., construction manager for the $80.5-million renovation of the Dunkin' Donuts Center, says it has saved $100,000 in waste......
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10:55 AM Thu, Mar 13, 2008 | Permalink |
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By Benjamin N. Gedan Email
Two top lawmakers have filed legislation calling for a study of how the Community College of Rhode Island trains the state's workforce. The bill is sponsored by Senate Majority Leader M. Teresa Paiva Weed and House Majority Leader Gordon D.......
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9:13 AM Thu, Mar 13, 2008 | Permalink |
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By John Kostrzewa Email
Providence-based LIN TV (TVL:NYSE) and the DISH Network Corp. (DISH:NASDAQ) said this morning they have reached an agreement for the retransmission of LIN TV's broadcast stations in both standard and high-definition. The deal covers television stations owned and/or operated by......
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9:01 AM Thu, Mar 13, 2008 | Permalink |
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By John Kostrzewa Email
The Better Business Bureau of Rhode Island has been acquired by its counterpart in Massachusetts, the Better Business Bureau based in Natick, Mass. that serves eastern Massachusetts, Maine and Vermont. The merged organization will include several board members from the......
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12:50 PM Wed, Mar 12, 2008 | Permalink |
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By Benjamin N. Gedan Email
Leonard Bell, chief executive officer of Alexion Pharmaceuticals Inc., will speak at two upcoming investor conferences, one sponsored by Cowen and Company and the other by Lehman Brothers, Alexion announced. The Cowen and Company's 27th Annual Healthcare Conference is taking......
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12:20 PM Wed, Mar 12, 2008 | Permalink |
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By Lynn Arditi Email
Providence will apply for $10 million in federal loans to purchase, rehabilitate or demolish foreclosed properties which have become a blight on city neighborhoods, Providence Mayor David N. Cicilline announced today. The city is seeking approval from the Providence City......
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12:02 PM Wed, Mar 12, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Bill Murphy Car importer NORAD is the main user of the port at the Quonset Business Park. NORTH KINGSTOWN -- Automobile importer North Atlantic Distribution plans to start exporting truck cabins from the pier at......
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9:15 AM Wed, Mar 12, 2008 | Permalink |
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By John Kostrzewa Email
Roger Penske has gone from a popular Indianapolis 500 and Nascar race track driver to a corporate CEO with a multi-million dollar paycheck. Penske, 71, is chairman and CEO of Penske Automotive Group, the second-largest publicly traded U.S. car dealer......
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9:08 AM Wed, Mar 12, 2008 | Permalink |
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By John Kostrzewa Email
A coalition of labor unions, environmental advocates and anti-poverty groups are collaborating to promote legislation that would help spark new renewable energy-related industries in Rhode Island. The group, which calls itself the Green Jobs Alliance, has come together to promote......
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4:26 PM Tue, Mar 11, 2008 | Permalink |
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By Benjamin N. Gedan Email
James P. McCarvill, the executive director of the Rhode Island Convention Center Authority, says there is probably little demand for the building's naming rights. State Rep. Deborah A. Fellela, D-Johnston, has introduced legislation that would require the authority to solicit......
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3:20 PM Tue, Mar 11, 2008 | Permalink |
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By Paul Grimaldi Email
Sharper Image, the San Francisco-based gadget retailer which recently filed for bankruptcy, will close its store in Providence Place mall in late spring, according to Craig Gorris, the mall's general manager. The Providence store is one of more than 90......
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3:05 PM Tue, Mar 11, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Kathy Borchers Governor Carcieri and Paul J. Choquette Jr., CEO of Gilbane Inc., at an Economic Policy Council meeting in 2006. PROVIDENCE -- Governor Carcieri is combining the state's two economic development agencies, the state......
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10:32 AM Tue, Mar 11, 2008 | Permalink |
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By Benjamin N. Gedan Email
PROVIDENCE -- Labor unions are joining with environmental advocates and anti-poverty groups to form a "Green Jobs Alliance." The alliance is a coalition that will support middle-class jobs that are good for the environment. Legislators are scheduled to announce the......
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10:19 AM Tue, Mar 11, 2008 | Permalink |
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By John Kostrzewa Email
About 150 business managers and executives this morning attended a seminar, "Ten questions you should ask about doing business in China" at the Crowne Plaza Hotel in Warwick. The attendees heard a panel of experts explain the risks of doing......
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5:12 PM Mon, Mar 10, 2008 | Permalink |
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By Benjamin N. Gedan Email
PROVIDENCE – With critics questioning how much Rhode Island has benefited from the $52 million in tax credits the state has offered to the television and movie industry to film here, the state's Division of Taxation this morning proposed new......
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3:06 PM Mon, Mar 10, 2008 | Permalink |
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By Benjamin N. Gedan Email
The chief executive officer of pharmaceutical giant Amgen Inc., Kevin Sharer, says 2007 was the "most difficult" year in the company's history. In an interview with The Wall Street Journal, Sharer was asked about the struggles that have bludgeoned the......
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1:09 PM Mon, Mar 10, 2008 | Permalink |
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By Andrea Panciera Email
Gas prices in the state are at the highest they've been since the aftermath of Hurricane Katrina in 2005, when all-time gas records were set, according to AAA. For the fourth-straight week, the average price of gasoline has risen, with......
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11:56 AM Mon, Mar 10, 2008 | Permalink |
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By Benjamin N. Gedan Email
The state Economic Development Corporation has started a new regional campaign to increase the number of high-wage jobs in Rhode Island by building the state's financial services, health and life sciences, information technology and digital media sectors. The nine-month campaign,......
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11:11 AM Mon, Mar 10, 2008 | Permalink |
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By Benjamin N. Gedan Email
The organizers of a new state chapter of the Industrial Designers Society of America are hosting a launch party next Thursday, March 20. The group will gather at 5:30 p.m. at Tazza on Westminster Street in Providence. “Clearly, the launch......
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11:05 AM Mon, Mar 10, 2008 | Permalink |
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By Paul Grimaldi Email
Jaime Garland checks out the Ionic Breeze Quadra Air purifiers at a Sharper Image store in Chicago in 2004. The chain recently filed for bankruptcy. Sharper Image, the San Francisco-based gadget retailer which recently filed for bankruptcy, said Friday......
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9:21 AM Mon, Mar 10, 2008 | Permalink |
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By John Kostrzewa Email
Scientific Games said this morning that its subsidiary, Games Media, signed a three-year licensing agreement with Hasbro to create games in the United Kingdom and Ireland for the Pawtucket-based companies properties. The deal covers games such as Monopoly, Yahtzee, Trivial......
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9:01 AM Mon, Mar 10, 2008 | Permalink |
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By John Kostrzewa Email
Providence Place mall will start a new parking fee system to try to unclog the bottlenecks that plague its parking garage. People who drive to the mall will be able to pay their parking fees at ATM-like machines and cashier......
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8:58 AM Mon, Mar 10, 2008 | Permalink |
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By John Kostrzewa Email
John Tomaz, a 30-year veteran at the Wardwell Braiding Machine Co., based in Central Falls, has been named president, succeeding Jonathan Farnum, who held the position for the past 37 years. Farnum will remain as chairman of the board and......
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5:29 PM Fri, Mar 07, 2008 | Permalink |
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By Tim Barmann Email
Verizon Communications said this afternoon that it will donate an original Norman Rockwell painting, "The Lineman," to the Norman Rockwell Museum in Stockbridge, Mass. The oil-on-canvas painting was created by Rockwell in 1948 for an advertisement for New England......
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5:14 PM Fri, Mar 07, 2008 | Permalink |
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By Tim Barmann Email
Journal archive photo / Sandor Bodo Jumbo tiger shrimp appetizer at the former Raphael Bar Risto. PROVIDENCE - A popular Italian restaurant that came to prominence during the resurgence of downtown Providence in the 1990s has closed. Raphael Bar......
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3:24 PM Fri, Mar 07, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo Governor Carcieri attends a ceremony last March, at the botanical garden at Roger Williams Park, to mark the start of the tourism season. PROVIDENCE - State officials will mark the start of this year's high tourism......
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2:59 PM Fri, Mar 07, 2008 | Permalink |
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By Andy Smith Email
The Rhode Island Economic Development Corporation and the New England Institute of Technology announced today they are accepting students into a new federally funded training program for the marine trades industry. The Composite Repair & Boat Construction Training Program is......
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2:33 PM Fri, Mar 07, 2008 | Permalink |
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By Tim Barmann Email
State regulators today gave Verizon Communications the first of three approvals it needs before it can begin providing cable television service to 115,000 households in 10 Rhode Island communities. The Division of Public Utilities and Carriers found that Verizon "has......
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2:03 PM Fri, Mar 07, 2008 | Permalink |
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By Andrea Panciera Email
WASHINGTON -- President Bush will make a statement on the nation's economy this afternoon, hours after a Labor Department report was released that showed employers slashing 63,000 jobs last month -- the most in five years. He's scheduled to speak......
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1:34 PM Fri, Mar 07, 2008 | Permalink |
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By Benjamin N. Gedan Email
Joseph J. MarcAurele, president of Citizens Bank's Rhode Island operations, is hosting a discussion about doing business in China. MarcAurele will be joined by Anne Forbes Van Nest, a senior vice president at Citizens Financial Group; Nelson de Castro, a......
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1:32 PM Fri, Mar 07, 2008 | Permalink |
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By Paul Grimaldi Email
Journal archive photo / Bill Murphy Providence Place mall is making changes to help shoppers leave the parking garage faster. PROVIDENCE - Providence Place mall is trying a new gambit to unclog the chronic bottlenecks that plague its parking......
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1:06 PM Fri, Mar 07, 2008 | Permalink |
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By Tim Barmann Email
Cox Communications is preparing to offer TiVo-based digital video recorder service in its New England division, Multichannel News has reported. TiVo president and CEO Tom Rogers, in a conference call Wednesday discussing the company’s quarterly results, said Cox is currently......
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12:23 PM Fri, Mar 07, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Mary Murphy Christopher L. Bergstrom, executive director of the state Economic Policy Council, at a council meeting last September. PROVIDENCE - Rhode Island Economic Policy Council has released its new strategy for improving the state's......
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8:37 AM Fri, Mar 07, 2008 | Permalink |
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By John Kostrzewa Email
Providence Equity Partners, the Providence-based firm run by Brown University graduate Jonathan Nelson, is among the companies preparing bids for the Weather Channel and its Web site, according to the Wall Street Journal. The deadline for preliminary bids is today.......
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8:08 AM Fri, Mar 07, 2008 | Permalink |
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By John Kostrzewa Email
The U.S. unexpectedly lost jobs in February for the second month in a row, reinforcing concerns that the economy is contracting. The Labor Department reported at 8:30 this morning that the country lost 63,000 jobs in February after a decline......
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5:58 PM Thu, Mar 06, 2008 | Permalink |
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By Benjamin N. Gedan Email
PROVIDENCE -- Lawmakers in the state Senate want to force the state's largest power company to invest in renewable energy projects, such as wind turbines. Senate President Joseph Montalbano said today that legislation they are proposing would primarily affect National......
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5:10 PM Thu, Mar 06, 2008 | Permalink |
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By Benjamin N. Gedan Email
Fortune magazine has named Providence-based Textron Inc. as the country's top-ranked aerospace and defense company. Textron moved up six spots from its ranking last year, according to the company. "Textron is honored to be recognized as number one among such......
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4:33 PM Thu, Mar 06, 2008 | Permalink |
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By Benjamin N. Gedan Email
The U.S. Interior Department’s Minerals Management Service plans to hold four public hearings in Massachusetts beginning Monday, March 10, to solicit comments on the Draft Environmental Impact Statement for the Cape Wind Energy Project. The draft report is available for......
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3:49 PM Thu, Mar 06, 2008 | Permalink |
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By Benjamin N. Gedan Email
As state lawmakers advance an effort to build wind turbines off the Rhode Island coast, Texas, an early adopter of wind energy, is struggling with the unpredictability of the resource. The Wall Street Journal reported today that regulators in Texas......
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2:15 PM Thu, Mar 06, 2008 | Permalink |
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By Paul Grimaldi Email
Journal photo / John Freidah Dan Driscoll, owner of Giro's restaurant, is closing his business on Saturday. SOUTH KINGSTOWN -- After a 75-year run, Giro's restaurant in the South Kingstown village of Peace Dale will close its doors Saturday.......
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2:05 PM Thu, Mar 06, 2008 | Permalink |
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By Benjamin N. Gedan Email
National Grid has sold a fiber optic division of its KeySpan Corp. subsidiary. Lightower Fiber LLC, a provider of digital fiber optic networks, today announced plans to purchase KeySpan Communications. That acquisition, coupled with Lightower's purchase of DataNet Communications Group......
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11:06 AM Thu, Mar 06, 2008 | Permalink |
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By John Kostrzewa Email
General Dynamics Corp., the owner of Electric Boat at Quonset Business Park, boosted its quarterly dividend 21 percent to 35 cents a share. The dividend is payable May 9 to shareholders of record on April 11, the Falls Church, Virginia-based......
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10:58 AM Thu, Mar 06, 2008 | Permalink |
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By Benjamin N. Gedan Email
Author Jeffrey W. Meshel. Author and "master networker" Jeffrey W. Meshel will deliver a speech at this year's Business EXPO, the Greater Providence Chamber of Commerce announced today. The speech will take place at the Rhode Island Convention Center.......
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8:33 AM Thu, Mar 06, 2008 | Permalink |
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By John Kostrzewa Email
Woonsocket-based CVS Caremark Corp. has applied for licenses to open the first 10 MinuteClinics at retail sites in Massachusetts. The state recently adopted regulations to allow the medical clinics in retail locations. MinuteClinic, which runs 500 clinics nationwide, said it......
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6:08 PM Wed, Mar 05, 2008 | Permalink |
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By Benjamin N. Gedan Email
Senate President Joseph A. Montalbano will unveil renewable energy legislation tomorrow at a news conference at 3 p.m., his spokesman announced today. Senate leaders plan to gather in the State House in room 313 to discuss the bills. Part of......
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2:27 PM Wed, Mar 05, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal Photo/Mary Murphy Michael Polak, right, and John Kelly, both of New England Organics, a composting company in Portland, Maine, set up their display yesterday at the 11th annual New England Regional Turfgrass Conference and Show at the Rhode......
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11:35 AM Wed, Mar 05, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Bill Murphy Sue Cabeceiras, of Warwick, shops at the new ALDI market. The Blue Elephant restaurant in Providence will no longer serve dinner, a decision its owners blamed on the increasing cost of food. "To......
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8:32 AM Wed, Mar 05, 2008 | Permalink |
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By John Kostrzewa Email
The ongoing Annual New England Turfgrass Conference at the Rhode Island Convention Center shines light on the state's industry. About half the 6,000 acres of sod grown in New England comes from Rhode Island, said Gary Sykes, executive director of......
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8:24 AM Wed, Mar 05, 2008 | Permalink |
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By John Kostrzewa Email
D. Palmieri's Bakery, a fixture in Johnston for 36 years before a devastating fire last year leveled the structure, is set to reopen. Stephen Palmieri, owner, and Mary Tobin, manager, have invited customers, politicians and other local leaders to a......
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8:17 AM Wed, Mar 05, 2008 | Permalink |
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By John Kostrzewa Email
Gary Gygax, a pioneer in the gaming industry and the creator of the fantasy role-playing game, Dungeons & Dragons, has died. He was 69. Gygax died Tuesday at his home in Wisconsin, according to a statment by Hasbro Inc.'s Wizards......
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1:49 PM Tue, Mar 04, 2008 | Permalink |
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By Paul Grimaldi Email
AP photo Cranium executives show off their new board game in 1999. Toymaker Hasbro Inc. is laying off 40 people at newly acquired Cranium Inc., the maker of the Cranium, Cadoo and Hullabaloo board games. The layoffs come as......
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10:58 AM Tue, Mar 04, 2008 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Bill Murphy The new bridge between the Rhode Island Convention Center and the Dunkin' Donuts Center is now open. PROVIDENCE - The bridge connecting the Dunkin' Donuts Center and the Rhode Island Convention Center has......
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8:57 AM Tue, Mar 04, 2008 | Permalink |
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By John Kostrzewa Email
Fitch Ratings has assigned an 'AA' rating with a Rating Watch Negative to the State of Rhode Island and Providence Plantations' $47.05 million general obligation bonds, consolidated capital development loan of 2008, refunding series A. The bonds are expected to......
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8:52 AM Tue, Mar 04, 2008 | Permalink |
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By John Kostrzewa Email
Students of Gibbs College, in Cranston, may find a new home at the New England Institute of Technology, according to New England Tech’s president. The company that owns Gibbs College said it would close the Cranston campus and six others......
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1:43 PM Mon, Mar 03, 2008 | Permalink |
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By Benjamin N. Gedan Email
Citizens Financial Group has appointed Ellen Alemany as its chief executive officer, a position held by Lawrence K. Fish from 1992 until last March. Alemany already held the title of CEO of RBS America, a new organizational unit at the......
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11:06 AM Mon, Mar 03, 2008 | Permalink |
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By Benjamin N. Gedan Email
Fans of Scrabulous, an unauthorized online version of Hasbro's Scrabble board game, are threatening to boycott Hasbro products if the Pawtucket-based company shuts down one of their favorite Internet pastimes. Scrabulous was created last summer by two brothers in......
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10:51 AM Mon, Mar 03, 2008 | Permalink |
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By Tim Barmann Email
The price of home heating continued its upward climb, with the average price in Rhode Island hitting $3.489 a gallon, a new record high. The previous high was $3.429, set on January 7. Today's price is up 7 cents a......
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9:59 AM Mon, Mar 03, 2008 | Permalink |
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By John Kostrzewa Email
Independent Bank Corp., parent of Rockland Trust Co., said this morning it has completed its acquisition of Slade’s Ferry Bancorp, parent of Slades Bank, based in Somerset, Mass. The closing of the transaction adds nine new branches to the Rockland......
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9:31 AM Mon, Mar 03, 2008 | Permalink |
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By John Kostrzewa Email
ALDI Food Market, a discount grocer, opens its first store in Rhode Island today at 444 Quaker Lane in Warwick. The retailer plans three other stores in the state this year, with openings planned for this summer on Pontiac Avenue......
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8:47 AM Mon, Mar 03, 2008 | Permalink |
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By John Kostrzewa Email
Richard I. Gouse, president of New England Institute of Technology, announced plans this morning for a 'green campus' on the site of the former Brooks' corporate headquarters building in East Greenwich. New England Tech previously dislcosed plans to buy the......
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