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August 2008 Archives
5:12 PM Fri, Aug 29, 2008 | Permalink |
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By Paul Grimaldi  Email
The owner of the Twin River slot parlor is unlikely to reach a new financing deal with its lenders before the current one expires at the end of the day, according to a slot parlor representative. "I don't believe we......
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4:12 PM Fri, Aug 29, 2008 | Permalink |
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By Neil Downing Email
Rhode Island's economy is suffering, says Saul Kaplan, executive director of the Rhode Island Economic Development Corporation. "We've been hit very hard by this economic downturn,'' Kaplan told about 230 business leaders, academics and others at a Bryant University's first......
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3:47 PM Fri, Aug 29, 2008 | Permalink |
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By Neil Downing Email
Rhode Island Auditor General Ernest A. Almonte will soon become chairman of the American Institute of Certified Public Accountants, the professional organization for about 334,000 CPAs nationwide. Almonte, a CPA who holds a bachelor's degree and master's degree from Bryant......
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3:36 PM Fri, Aug 29, 2008 | Permalink |
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By Neil Downing Email
America is in a $53 trillion financial hole, but few of the nation's leaders - including the two leading presidential candidates - are willing to grapple with it, says former U.S. Comptroller General David M. Walker. Besides an $11......
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3:30 PM Fri, Aug 29, 2008 | Permalink |
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By Neil Downing Email
Providence should become a national model for preventative health care and related products and services - and a regional leader in rehabilitation services, says Laurie White, head of the Greater Providence Chamber of Commerce. The chamber, working with the Rhode......
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5:16 PM Thu, Aug 28, 2008 | Permalink |
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By Jack Perry Email
The Washington Trust Company has issued new MasterCard-branded credit and debit cards to 963 customers after the card company alerted the bank that the customers' account information was in a computer database that might have been compromised. MasterCard had no......
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5:10 PM Thu, Aug 28, 2008 | Permalink |
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By Andrea Panciera Email
Journal photo / Bob Thayer Joseph Faria of Warren caulks along the edges of large cutouts atop the Nitro Antiques shop across from Cutler Mills on Child Street in Warren today. A large eagle will be placed in this......
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5:42 PM Wed, Aug 27, 2008 | Permalink |
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By Tim Barmann Email
WARWICK -- Should natural gas customers of National Grid be required to pay for a $1.4-million marketing program designed to encourage more households to switch from heating oil to natural gas? That is one of several issues before the Public......
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9:35 AM Wed, Aug 27, 2008 | Permalink |
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By Jack Perry Email
The state Public Utilities Commission today will begin hearings today on a major restructuring of National Grid's natural-gas distribution rates in Rhode Island, including a company proposal that would increase a typical customer's bill by about 4.6 percent. Today's hearing......
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5:28 PM Tue, Aug 26, 2008 | Permalink |
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By Paul Grimaldi Email
Southwest Airlines Co., which had resisted the kinds of capacity cuts being made by other carriers, will eliminate nearly 200 flights early next year - including two daily departures from Rhode Island - as it struggles with high fuel costs......
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4:43 PM Mon, Aug 25, 2008 | Permalink |
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By Tim Barmann Email
The Federal Regulatory Energy Commission said today it would hold a hearing to determine whether to reconsider a decision by a commission official granting a five-year extension to Weaver's Cove LNG. The company wants to build an liquefied natural gas......
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11:17 AM Fri, Aug 22, 2008 | Permalink |
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By Business staff Email
GateHouse Media, the financially-troubled company that owns the Herald News of Fall River and the Taunton Daily Gazette in Massachusetts, said it is replacing its chief financial officer. Mark Thompson has resigned for personal reasons, Gatehouse said, and will be......
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9:26 AM Fri, Aug 22, 2008 | Permalink |
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By Business staff Email
The newly-refurbished Looff Carousel in Pawtucket will be reopened with a special ceremony at 11 a.m. on Saturday. The carousel was temporarily closed to the public during renovations paid for by a $93,317 state preservation grant from the Rhode Island......
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3:29 PM Thu, Aug 21, 2008 | Permalink |
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By Andrea Panciera Email
PROVIDENCE -- The assets of a business-backed advocacy group, the Education Partnership, which went into receivership in June, are slated to go up for auction next week, the auction company announced today. Tuesday's auction will be at the nonprofit partnership's......
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2:12 PM Thu, Aug 21, 2008 | Permalink |
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By Business staff Email
Standard & Poor's, the rating agency, has affirmed Providence's "A" bond rating and raised the city's financial outlook from stable to positive. In its report to investors, Standard and Poor's stated, "the positive outlook reflects the city's recent improvements in......
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1:55 PM Thu, Aug 21, 2008 | Permalink |
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By Business staff Email
KVH Industries, in Middletown, reported in a filing with federal regulators the new base salaries for several top executives, including $374,842 for Martin A. Kits van Heyningen, president and chief executive officer. The other base salaries are: $249,471, Patrick J.......
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10:21 AM Thu, Aug 21, 2008 | Permalink |
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By Business staff Email
The Newport International Boat Show will be held September 11 through 14 and will cover 15 acres along America's Cup Avenue, stretching from the Newport Yachting Center to Newport Harbor Hotel & Marina. More than 850 exhibitors with over 700......
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10:04 AM Thu, Aug 21, 2008 | Permalink |
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By Paul Grimaldi Email
The lawyer overseeing financially troubled Landmark Medical Center is contesting the amount of an annual licensing fee the Woonsocket hospital must pay the state. Jonathan N. Savage contends in court documents that the hospital does not have to the full......
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2:38 PM Wed, Aug 20, 2008 | Permalink |
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By Business staff Email
Homeowners in the city struggling to meet their mortgage payments can start getting help renegotiating their loans on Saturday during a financial workshop sponsored by a Providence nonprofit group. "It is our goal to help every family stay in their......
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8:19 AM Wed, Aug 20, 2008 | Permalink |
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By John Kostrzewa Email
BJ's Wholesale Club Ithis morning reported that its profit edged up in the second-quarter and raised its full-year earnings forecast as frugal shoppers look for deals at discounters. The Natick, Mass.-based retailer said it earned $36.5 million, or 61 cents......
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8:19 AM Wed, Aug 20, 2008 | Permalink |
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By John Kostrzewa Email
Textron Inc.'s Bell Helicopter unit was directed to reduce work for three months on the $6.27 billion Army Armed Reconnaissance Helicopter program while the Pentagon decides whether it should continue, a service spokesman told Bloomberg News this morning. The slowdown......
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4:22 PM Tue, Aug 19, 2008 | Permalink |
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By John Kostrzewa Email
Astro-Med Inc., of West Warwick, today reported second quarter net income of $1.15 million, or 15 cents per diluted share, up 30 percent from $886,000, or 12 cents a share, in the year-ago period. Sales were $19.78 million, up from......
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3:39 PM Tue, Aug 19, 2008 | Permalink |
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By John Kostrzewa Email
By Katherine Gregg, Journal State House Bureau The former head of the Rhode Island Economic Policy Council has landed the top spot in the Urban Redevelopment Commission for Stamford, Conn., the city from whence he first came to the Ocean......
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3:08 PM Tue, Aug 19, 2008 | Permalink |
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By Paul Grimaldi Email
Northeast Resorts today offered up its vision for a resort casino in New Bedford, where it controls a swath of land along the city's waterfront. Northeast, which includes Leon Dragone as one of its principals, owns or has options for......
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11:31 AM Tue, Aug 19, 2008 | Permalink |
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By Paul Grimaldi Email
Whitehall Jewelers started selling off its inventory over the weekend as it began a court-approved liquidation sale. On June 23, the Chicago-based retailer sought protection from its creditors in a Chapter 11 bankruptcy filing. The liquidation sale will involve all......
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8:15 AM Tue, Aug 19, 2008 | Permalink |
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By John Kostrzewa Email
Newport Grand is installing more than 400 new slot machines and six new video blackjack tables in preparation for the opening of its new 22,000 square-food gaming space in September. Once complete, Newport Grand will offer more than 1,500 slot......
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8:06 AM Tue, Aug 19, 2008 | Permalink |
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By John Kostrzewa Email
General Dynamics, the parent company of the Electric Boat shipyards in North Kingstown and Groton, Conn., said this morning it is buying Jet Aviation for about $2.25 billion cash to expand its business-aviation services, Bloomberg News reported. Jet Aviation, based......
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8:02 AM Tue, Aug 19, 2008 | Permalink |
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By John Kostrzewa Email
Longs Drug Stores Corp. recommended shareholders approve its $2.7 billion purchase by CVS Caremark Corp. even as activist investor Bill Ackman hired a firm to explore getting a higher price, according to Bloomberg News. The Longs board endorsed the takeover......
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6:03 PM Mon, Aug 18, 2008 | Permalink |
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By Andrea Panciera Email
The Navy plans to support building a third, stealth-technology Zumwalt destroyer, reversing plans to end the program -- which jeopardized Raytheon jobs in Rhode Island. That's according to a news release late today from U.S. Rep. Patrick Kennedy, D-Rhode Island.......
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8:57 AM Mon, Aug 18, 2008 | Permalink |
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By John Kostrzewa Email
Rhode Island should require the state's largest power company, National Grid, to buy electricity over the long term from renewable energy producers such as wind turbines and solar sources, Gov. Carcieri said in a letter to the state Public Utilities......
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2:42 PM Fri, Aug 15, 2008 | Permalink |
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By Andrea Panciera Email
Journal photo / Bob Thayer James Barata, a member of Providence's Local 37, Ironworkers of America, guides an iron beam into place on the top floor of the $60-million corporate headquarters of FM Global, the insurance company in Johnston.......
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10:20 AM Tue, Aug 12, 2008 | Permalink |
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By Jack Perry Email
PROVIDENCE (AP) -- Gas prices in Rhode Island continue a four-week slide and have reached their lowest point since May. A weekly survey by the state Office of Energy Resources shows a gallon of regular, unleaded was averaging $3.72 at......
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3:32 PM Fri, Aug 08, 2008 | Permalink |
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By Tim Barmann Email
Toy maker Hasbro Inc. and shoe maker Reebok have teamed up to make a new line of sneakers inspired by the classic board game, Monopoly. The shoes feature designs that draw from Monopoly, a 70-year old board game produced by......
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11:40 AM Fri, Aug 08, 2008 | Permalink |
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By maria caporizzo Email
Business Wire Pawtucket-based Hasbro and Canton, Mass.-based Reebok have teamed up to create a Monopoly sneaker You run in running shoes, you bowl in bowling shoes, now you can play a board game in equally appropriate footwear. The Pawtucket-based......
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