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July 2008 Archives
2:49 PM Thu, Jul 31, 2008 | Permalink |
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By John Kostrzewa  Email
New Hampshire (SSN 778), the nation's newest nuclear-powered attack submarine, returned to the Electric Boat shipyard in Groton, Conn. today following the completion of its first voyage in open seas, called alpha sea trials. New Hampshire's trials included submerging for......
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2:45 PM Thu, Jul 31, 2008 | Permalink |
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By John Kostrzewa Email
The Colibri Group, Inc., of East Providence, said today it had completed a refinancing that included an equity investment by the company's major shareholder and recapitalization of the company's bank lines. Colibri's CEO, Jim Fleet, said the transaction "affords the......
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2:34 PM Thu, Jul 31, 2008 | Permalink |
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By Jack Perry Email
By Paul Grimaldi Journal Business Writer A federal judge in Providence this morning ordered a defendant in an Internet fraud case to pay $2.2 million in restitution and complete 1,200 hours of community service -- the most time the judge......
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7:54 AM Thu, Jul 31, 2008 | Permalink |
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By John Kostrzewa Email
CVS Caremark Corp., based in Woonsocket, this morning said second-quarter profit grew due to improved sales at its retail drug stores. CVS reported net income rose to $774.8 million, or 53 cents per share, from $723.6 million, or 47 cents......
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9:15 AM Wed, Jul 30, 2008 | Permalink |
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By Andrea Panciera Email
For a state where it feels like there is one of these doughnut shops on almost every corner, and whose company name graces its Providence civic center, this is news. Looking to entice those hungry for a healthier option, Dunkin'......
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3:22 PM Tue, Jul 29, 2008 | Permalink |
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By Andrea Panciera Email
NEW YORK -- The creators of a Scrabble knockoff responsible for countless hours at the online hangout Facebook suspended their word game Tuesday after being hit with a lawsuit, disappointing fans who logged on expecting to make their next moves.......
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12:34 PM Mon, Jul 28, 2008 | Permalink |
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By Andrea Panciera Email
A.H. Belo Corp. of Dallas, Texas, whose holdings include The Providence Journal and Dallas Morning News, plans to reduce company-wide employment by the equivalent of 500 full-time jobs -- about 14 percent of the company's work force. Howard G.......
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10:35 AM Mon, Jul 28, 2008 | Permalink |
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By Jack Perry Email
Gasoline prices in Rhode Island have fallen an average of 11 cents and are now below the $4.00 mark, according to AAA Southern New England. The average price for a gallon of regular, unleaded gasoline is $3.959 at the self-service......
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4:18 PM Fri, Jul 25, 2008 | Permalink |
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By Andrea Panciera Email
An out-of-state health industry advisory group will work with a Pawtucket attorney overseeing the troubled Landmark Medical Center in Woonsocket. Superior Court Associate Justice Michael A. Silverstein today appointed PricewaterhouseCoopers LLP of Albany, N.Y., to work with attorney Jonathan N.......
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12:42 PM Thu, Jul 24, 2008 | Permalink |
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By Paul Grimaldi Email
Toymaker Hasbro Inc. filed suit in federal court today against the two brothers who created Scrabulous -- a wildly popular online version of Scrabble. In a separate notice to Facebook, Pawtucket-based Hasbro also alleges that the social-networking site is infringing......
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10:28 AM Thu, Jul 24, 2008 | Permalink |
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By Paul Grimaldi Email
PROVIDENCE -- A Superior Court judge said this morning he must delay at least until this afternoon naming a health-care expert to help oversee financially-ailing Landmark Medical Center. During a brief hearing this morning in Providence, Judge Michael A. Silverstein......
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10:35 AM Wed, Jul 23, 2008 | Permalink |
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By Jack Perry Email
SAN FRANCISCO (AP) -- EMC Corp. said today its second-quarter profit climbed 13 percent, topping Wall Street's forecasts, as the data storage specialist rang up record sales despite fears that economic uncertainty is tamping down information technology spending. The Hopkinton,......
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7:20 AM Wed, Jul 23, 2008 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- The Massachusetts Legislature voted overwhelmingly yesterday in favor of a plan to give consumers a two-day break from the state sales tax next month. Gov. Deval Patrick has already pledged to sign the bill into law. By......
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3:55 PM Mon, Jul 21, 2008 | Permalink |
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By Andrea Panciera Email
ST. GEORGE, Maine (AP) -- Great Eastern Mussel Farms has announced it is shutting down its business and laying off 40 full-time employees. Great Eastern, located in Tenants Harbor in midcoast Maine, was a pioneer in mussel cultivation when it......
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11:59 AM Mon, Jul 21, 2008 | Permalink |
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By Paul Grimaldi Email
Gary Gaube, the chief executive officer of finacially ailing Landmark Medical Center submitted his resignation this morning, according to a statement from the Woonsocket hospital. Landmark has been losing money for many years and at the end of the last......
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7:17 AM Mon, Jul 21, 2008 | Permalink |
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By John Kostrzewa Email
Pawtucket-based Hasbro Inc., the maker of Monopoly and Clue board games, said second-quarter profit surged after the toymaker recorded costs a year earlier to end part of a contract with "Star Wars" director George Lucas. Net income increased to $37.5......
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11:28 AM Fri, Jul 18, 2008 | Permalink |
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By Paul Grimaldi Email
Fans of Starbucks coffee can rest easy as the Seattle, Wash., chain skipped over Rhode Island in a recently announced store-closure plan. Starbucks this week named the 600 stores it will close around the country and no Rhode Island locations......
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10:27 AM Thu, Jul 17, 2008 | Permalink |
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By Paul Grimaldi Email
A Superior Court judge said this morning he will need another week before he can name a health-care expert to help oversee financially ailing Landmark Medical Center. During a brief hearing this morning, Judge Michael A. Silverstein told a courtroom......
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9:28 AM Thu, Jul 17, 2008 | Permalink |
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By John Kostrzewa Email
Quaker Fabric Corp., the Fall River furniture- upholstery manufacturer that filed under Chapter 11 last August and sold almost all the assets six weeks later, is in bankruptcy court today aiming for approval of a disclosure statement explaining the amended......
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9:25 AM Thu, Jul 17, 2008 | Permalink |
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By John Kostrzewa Email
Providence-based Textron Inc. this morning reported second-quarter profit rose 21 percent on higher sales of planes, helicopters and golf carts. Profit from continuing operations climbed to $261 million, or $1.03 a share, from $215 million, or 85 cents, a year......
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12:28 PM Wed, Jul 16, 2008 | Permalink |
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By John Kostrzewa Email
U.S. Reps. Jim Langevin (D-RI) And Patrick Kennedy (D-RI) this morning joined 19 other members of the New England Congressional Delegation to push for more home heating assistance. The delegation asked House Speaker Nancy Pelosi to endorse a boost to......
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9:06 AM Tue, Jul 15, 2008 | Permalink |
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By Jack Perry Email
A National Grid utility rate hike goes into effect today, raising natural gas prices by 8 percent and electricity by 21.7 percent. For a typical home, that means a $9.60 increase in an average monthly gas bill and a $16.67......
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5:32 PM Mon, Jul 14, 2008 | Permalink |
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By maria caporizzo Email
Economically speaking, Rhode Island is in the midst of the "worst year" in a quarter century, according to a local index released today. After a brief uptick in April, the Current Conditions Index in May plunged back to its lowest......
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10:58 AM Mon, Jul 14, 2008 | Permalink |
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By John Kostrzewa Email
A majority of New Bedford residents support a resort casino in their city, according to a new poll released this morning by the University of Massachusetts Dartmouth Center for Policy Analysis The poll of 474 New Bedford residents showed 53%......
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9:12 AM Mon, Jul 14, 2008 | Permalink |
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By John Kostrzewa Email
RSC Equipment Rental, Inc., based in Scottsdale, Arizona, this morning said it completed the purchase of the operations and certain operating assets of American Equipment Rentals, based in Providence. Terms were not disclosed. American provides aerial equipment, forklifts and other......
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1:56 PM Fri, Jul 11, 2008 | Permalink |
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By Paul Grimaldi Email
Royal Ahold, NV, the Dutch food company that owns Stop & Shop, named a new chief executive officer and president for the Quincy, Mass.-based supermarket chain. Carl Schlicker, an executive with Ahold's Giant Food division in Carlisle, Penn., replaces Jose......
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11:50 AM Fri, Jul 11, 2008 | Permalink |
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By John Kostrzewa Email
Construction at the Greenwood Shops, a new retail center at the corner of East Avenue (Route 5) and Greenwich Avenue (Route 5) in Warwick continues as workers erect the steel skeleton for a block of stores at the south end......
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11:00 AM Fri, Jul 11, 2008 | Permalink |
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By Andrea Panciera Email
Journal photo / John Freidah Customers line up outside the AT&T store on Reservoir Avenue in Cranston this morning for the release of the new iPhone. Sales manager Loren Sarno helps them outside the store. Some models had sold......
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4:14 PM Thu, Jul 10, 2008 | Permalink |
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By Paul Grimaldi Email
The tribe that runs the Foxwoods Resort Casino today refused a union's request to negotiate a contract on behalf of nearly 3,000 poker and table-game dealers. The letter sent to the United Auto Workers is the latest development in what......
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2:36 PM Thu, Jul 10, 2008 | Permalink |
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By Jack Perry Email
As expected, the Public Utilities Commission has approved a 21.7-percent increase in the price National Grid charges its customers for electricity and a 10-percent increase in the price it charges for natural gas. The combined increases, which go into effect......
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8:58 AM Thu, Jul 10, 2008 | Permalink |
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By Andrea Panciera Email
The Department of Business Regulation said this morning it has completed its relocation from 233 Richmond St. in Providence to the John O. Pastore Complex in Cranston. The DBR's new address is 1511 Pontiac Ave., and the offices are now......
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2:25 PM Wed, Jul 09, 2008 | Permalink |
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By Neil Downing Email
Governor Carcieri today formally launched a two-year plan to recover $10 million in delinquent taxes from more than 10,000 people and businesses. The plan, dubbed "Compliance 2010 -- Revenue for Rhode Island's Future,'' is intended to bring more taxpayers into......
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2:16 PM Wed, Jul 09, 2008 | Permalink |
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By Jack Perry Email
TOPEKA, Kan. -- Recent computer blunders in the Kansas Lottery Pick 3 game could cost international gaming giant GTECH a contract to run the games at the four state-owned and -operated casinos. The Providence-based firm manages state lottery and casino......
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8:18 AM Wed, Jul 09, 2008 | Permalink |
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By John Kostrzewa Email
Workers at two Rhode island companies that have been hurt by foreign imports and competition have been deemed eligible for special job training programs under the Trade Adjustment Assistance law. The workers lost their jobs, or had their hours cut......
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8:18 AM Wed, Jul 09, 2008 | Permalink |
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By John Kostrzewa Email
Governor Donald L. Carcieri is scheduled to participate in the New England Governors' Energy Summit today at the Federal Reserve Bank of Boston in Boston. The Energy Summit provides a forum to discuss regional approaches to common energy issues, promoting......
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9:11 AM Tue, Jul 08, 2008 | Permalink |
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By John Kostrzewa Email
Marriott International, Inc. (MAR:NYSE) plans to open its 100-suite Residence Inn by Marriott in West Greenwich on Wednesday. Located at 755 Centre of New England Boulevard, the Residence Inn Providence-Coventry will operate as a Marriott franchise, owned and managed by......
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8:52 AM Tue, Jul 08, 2008 | Permalink |
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By John Kostrzewa Email
EpiVax, Inc, of Providence, said this morning it has won a $600,000 grant from the National Institute of Diabetes and Digestive and Kidney Diseases to develop a a drug for the prevention and treatment of a type of diabetes. NIDDK,......
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12:40 PM Mon, Jul 07, 2008 | Permalink |
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By Paul Grimaldi Email
CVS Caremark Corp., of Woonsocket, is now the fourth-largest retailer in the United States, according to an annual survey by Stores Magazine, a publication of the National Retail Federation. CVS landed in the number-four spot on the annual list of......
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10:15 AM Mon, Jul 07, 2008 | Permalink |
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By John Kostrzewa Email
Engineers at Brown University and designers at the Rhode Island School of Design have created Toys and Technology for Rehabilitation, a program for children with cerebral palsy at the Hasbro Children's Hospital in Providence. Brown and RISD students and their......
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10:15 AM Mon, Jul 07, 2008 | Permalink |
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By John Kostrzewa Email
Irving Oil Corp., an 80-year-old Canadian energy company that refines and sells gasoline, has established a presence in Rhode Island over the past two months, and is seeking to expand even further. "We intend to expand our dealer relationships in......
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6:14 PM Thu, Jul 03, 2008 | Permalink |
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By Andrea Panciera Email
Even before state regulators have considered a proposed 15.6 percent hike in electricity rates, National Grid now says it wants to increase rates even more. National Grid told the state Public Utilities Commission today that the increasing price of crude......
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3:11 PM Thu, Jul 03, 2008 | Permalink |
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By John Kostrzewa Email
Newport Bancorp, Inc. (NFSB:Nasdaq) the holding company for Newport Federal Savings Bank, said today that that it has completed its second stock repurchase program. The company acquired 231,721 shares, or 5%, of the Company's outstanding common stock at an average......
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5:11 PM Wed, Jul 02, 2008 | Permalink |
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By Paul Grimaldi Email
Contract talks are underway between Shaw's Supermarkets and the union representing workers at its stores in Rhode Island and Massachusetts, according to a union officlal. Representatives of Local 791 of the United Food and Commercial Workers met today with company......
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3:20 PM Wed, Jul 02, 2008 | Permalink |
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By John Kostrzewa Email
Fitch Ratings today affirmed the "A" bond rating for Providence's approximately $105 million in outstanding general obligation bonds. Fitch reviewed the city's finances and concluded that Providence continues to exercise strong fiscal management in the face of external pressures, including......
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6:47 AM Wed, Jul 02, 2008 | Permalink |
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By John Kostrzewa Email
The Rhode Island Division of Taxation is accepting business donation applications for the Rhode Island Corporate Scholarship Tax Credit Program for state fiscal years 2009 and 2010. C-Corporations, S-Corporations, LLCs and LLPs can get a 75% tax credit for a......
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5:15 PM Tue, Jul 01, 2008 | Permalink |
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By John Kostrzewa Email
Bank of America Corp. today completed its purchase of Countrywide Financial Corp., the home lender battered by the collapse of the subprime mortgage market, giving the bank control of one out of every four U.S. home loans. The second-biggest U.S.......
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4:30 PM Tue, Jul 01, 2008 | Permalink |
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By Andrea Panciera Email
Hasbro Inc. said today it has added a former finance executive for an international trucking and supply-chain management company to its board of directors. Tracy Leinbach, formerly chief financial officer for Ryder System Inc., was elected to the board of......
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9:46 AM Tue, Jul 01, 2008 | Permalink |
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By Lynn Arditi Email
Rhode Island's median house price in May fell 8.2 percent from a year earlier, according to a report out today by the Boston research firm, The Warren Group. The median price of a single-family house in May was $245,000, down......
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8:49 AM Tue, Jul 01, 2008 | Permalink |
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By John Kostrzewa Email
Moody’s, one of the three major credit rating agencies, has announced plans to adopt a common rating system to evaluate public and corporate bonds. Moody’s plans follow a campaign by state and federal officials across the country to end the......
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8:37 AM Tue, Jul 01, 2008 | Permalink |
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By John Kostrzewa Email
Creative Circle Advertising Solutions, a developer of software for media companies, has been awarded $250,000 from the Slater Technology Fund, bringing the total amount the state backed venture capital fund has invested in the company to $750,000. Entrepreneur Bill Daugherty......
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