Projo Biz Blog

October 19, 2008 - October 25, 2008 Archives


Gov. Carcieri looking to help small businesses borrow money

4:18 PM Fri, Oct 24, 2008 | | Comments (1)
By Tim Barmann    Email

PROVIDENCE -- Gov. Carcieri and other state officials held a closed-door meeting this afternoon with small business leaders and accountants who represent those companies to talk about measures the state might take to reverse the credit crunch being faced by......

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State extends unemployment benefits

9:54 AM Fri, Oct 24, 2008 | | Write a comment
By Jack Perry    Email

State unemployment benefits have been extended again because of Rhode Island's high unemployment rate, according to the state Department of Labor and Training. State unemployment benefits normally last up to 26 weeks, but with this, a second extension, eligible recipients......

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Unemployment payment card problem has been fixed

9:16 AM Fri, Oct 24, 2008 | | Comments (1)
By Jack Perry    Email

A problem that left some Rhode Islanders unable to access their unemployment and disability benefits has been fixed, according to the state Department of Labor and Training. J.P. Morgan Chase has corrected the problem with its electronic payment card and......

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MetLife to lay off workers in R.I. and around the country

3:09 PM Thu, Oct 23, 2008 | | Write a comment
By Tim Barmann    Email

MetLife Inc., one of the state's major employers, said today it plans to reduce its workforce across the country and will lay off an unspecified number of workers in Rhode Island. The New York-based insurance and financial services company currently......

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IRS has $800,000 in unclaimed checks for Rhode Islanders

10:40 AM Thu, Oct 23, 2008 | | Write a comment
By Neil Downing    Email

The Internal Revenue Service says it's holding more than $800,000 in unclaimed tax refund checks for more than 1,300 Rhode Islanders. The IRS mailed the checks earlier this year, but the checks were returned because of mailing address problems. Included......

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Summer Infant replaces chairman

8:33 AM Thu, Oct 23, 2008 | | Write a comment
By Business staff    Email

Jason Macari, chief executive officer of Summer Infant, has been appointed chairman of the board, replacing Marlene Krauss following her resignation as a director and chairman, effective last Monday. The company also announced that Bob Stebenne was approved as the......

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Two Rhode Island bond funds complete merger

5:56 PM Wed, Oct 22, 2008 | | Write a comment
By Neil Downing    Email

Two local municipal bond mutual funds have completed their merger. The Narragansett Insured Tax-Free Income Fund absorbed the Ocean State Tax-Exempt Fund as of the close of business on Friday. As a result, the Narragansett fund now has combined assets......

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Despite drop in energy prices, R.I. electricity rates remain high

5:19 PM Wed, Oct 22, 2008 | | Write a comment
By Tim Barmann    Email

The happy consequence of falling price of crude oil has been a steep drop in gasoline and heating oil prices. But one form of energy, at least in Rhode Island, hasn't yet followed suit. National Grid's electricity rates here remain......

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EMC 3Q profit drops but beats forecast

10:30 AM Wed, Oct 22, 2008 | | Write a comment
By Jack Perry    Email

SAN FRANCISCO (AP) -- Data storage company EMC Corp. said today its net income dropped 17 percent in the third quarter, a decline caused by a big one-time gain from the sale of VMware Inc. shares in the year-ago period.......

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Actor selling RI estate

8:10 AM Wed, Oct 22, 2008 | | Write a comment
By Business staff    Email

Actor Nicolas Cage is reportedly selling an estate in Middletown that he purchased just a year ago. Lila Delman Real Estate is listing the Gray Craig estate in Middletown for $15.9 million, which is about $200,000 more than Cage purchased......

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Newport tech company moving to Warren

4:22 PM Tue, Oct 21, 2008 | | Write a comment
By Tim Barmann    Email

A Newport technology company said it will move to a refurbished mill building in Warren because it needs more space to expand. AVTECH, which makes software and hardware devices that monitor environmental conditions of computer data centers, has agreed to......

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Rhode Island has highest unemployment rate in the country

2:27 PM Tue, Oct 21, 2008 | | Write a comment
By Lynn Arditi    Email

Rhode Island's unemployment rate now ranks highest in the country, according to data released today by the U.S. Bureau of Labor Stastics. Rhode Island's jobless rate in September climbed to 8.8 percent, nudging it ahead of Michigan's rate of 8.7......

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Sports Authority to open in Warwick Mall

11:42 AM Tue, Oct 21, 2008 | | Write a comment
By Paul Grimaldi    Email

Sporting-goods retailer Sports Authority will open a 40,000-square-foot store in Warwick Mall next spring, according to Aram Garabedian, one of the mall's managing partners. The privately held retailer will open a store on the mall's south side, above the Target......

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Middletown company KVH reports third-quarter loss

8:52 AM Tue, Oct 21, 2008 | | Write a comment
By Business staff    Email

KVH Industries, Inc., (KVHI:Nasdaq) this morning reported a third quarter net loss of $800,000, or eight cents a share, compared with flat earnings in the year-ago period. Third-quarter revenue at the Middletown-based company, which focuses on mobile technology, was $15.7......

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LIN TV, Fox Interactive form partnership

11:09 AM Mon, Oct 20, 2008 | | Write a comment
By Business staff    Email

Providence-based LIN TV Corp. (TVL:NYSE) and Fox Interactive Media, a division of News Corporation, today announced a new strategic relationship and the launch of LIN TV's new television station web sites. LIN TV is FIM's first third-party digital publishing partner......

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Star wars, Nerf toys boost Hasbro profits

8:23 AM Mon, Oct 20, 2008 | | Comments (2)
By Business staff    Email

Pawtucket-based Hasbro Inc. said this morning that sales of its Star Wars, Playskool and Nerf toys helped boost third-quarter profit and sales above Wall Street expectations. The maker of board games such as Trivial Pursuit and Scrabble said profit for......

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