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March 2009 Archives
4:35 PM Tue, Mar 31, 2009 | Permalink |
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By Paul Grimaldi  Email
College savings program Upromise and Bank of America on Tuesday jointly introduced two credit card programs that offer rewards for people to help save money for college. The credit cards allow shoppers to earn cash back on grocery purchases. One......
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3:06 PM Tue, Mar 31, 2009 | Permalink |
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By Benjamin N. Gedan Email
The Greater Providence Chamber of Commerce and the City of Providence are giving away a total of $150,000 to 11 projects "that will expand key industries and nurture the entrepreneurial spirit of the city and state." The grants awards will......
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2:34 PM Tue, Mar 31, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
Providence Journal photo / John Freidah Jim Moynihan of New Energy Alliance (left) signs a contract with Nick Wisner of National Grid to provide better electric transmission capacity for National Grid. PROVIDENCE, R.I. - National Grid inked a five-year......
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1:31 PM Tue, Mar 31, 2009 | Permalink |
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By Business staff Email
The Bank of America celebrates Women's History Month Tuesday with a ceremony at 1 Financial Plaza in Providence honoring six Rhode Island women: Lt. Gov. Elizabeth Roberts, Superior Court Judge Justice O. Rogeriee Thompson, Laurie White, president of the Greater......
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9:14 AM Tue, Mar 31, 2009 | Permalink |
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By Jack Perry Email
ATTLEBORO, Mass. (AP) -- While cultural institutions around the country struggle to attract customers being frugal in a down economy, business at the Capron Park Zoo in Attleboro is booming. Director Jean Benchimol says the zoo is on track to......
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8:49 AM Tue, Mar 31, 2009 | Permalink |
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By Business staff Email
AAER Inc., the Canadian-based wind turbine manufacturer, said this morning that it has completed the installation of a turbine in Portsmouth that is now generating electricity. "We are very pleased to have completed the installation of our second turbine in......
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7:19 AM Tue, Mar 31, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- One of Boston's iconic skyscrapers could fetch half of what it cost less than three years ago when it goes on the auction block. The John Hancock Tower, New England's tallest building, is being sold Tuesday in......
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6:41 PM Mon, Mar 30, 2009 | Permalink |
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By Bruce Landis Email
A Connecticut woman has sued the Rhode Island Turnpike and Bridge Authority, accusing it of illegally favoring Rhode Islanders by making out-of-state drivers pay higher tolls to cross the Pell Bridge. David A. Darlington, chairman of the authority, said that......
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6:24 PM Mon, Mar 30, 2009 | Permalink |
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By Neil Downing Email
Rhode Island's tax climate for business would improve significantly if the state were to adopt tax changes proposed by Governor Carcieri earlier this month, according to an analysis by the Tax Foundation, which monitors fiscal policy at the federal, state......
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4:22 PM Mon, Mar 30, 2009 | Permalink |
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By Barbara Polichetti Email
Many college graduates determined to make it in the business world in years past would be looking to Wall Street as they plot their careers. But in this economy, some may be shifting their focus to the federal government. On......
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3:52 PM Mon, Mar 30, 2009 | Permalink |
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By Benjamin N. Gedan Email
Providence is the top location in Rhode Island for starting a business, according to an analysis conducted for BusinessWeek magazine. The analysis, by GIS Planning, a San Francisco-based firm that helps companies decide where to move or expand, found that......
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1:55 PM Mon, Mar 30, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. - Hold on to your wallet. The average price of regular unleaded gasoline jumped by seven cents a gallon in the last week. The Rhode Island Office of Energy Resources said its survey found the self-service price at......
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1:54 PM Mon, Mar 30, 2009 | Permalink |
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By Neil Downing Email
U.S. Rep. Jim Langevin said today he supports President Obama's efforts involving a segment of the U.S. auto industry. "I'm glad that President Obama is taking a tough stand on the reorganization of the auto industry," Langevin said in an......
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1:47 PM Mon, Mar 30, 2009 | Permalink |
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By Neil Downing Email
U.S. Sen. Jack Reed today said that the nation's economy could see sustained growth by spring. At a meeting of the Greater Providence Chamber of Commerce, Reed said the recovery is proceeding. He said he hopes that, by spring, "We're......
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1:27 PM Mon, Mar 30, 2009 | Permalink |
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By Neil Downing Email
U.S. Sen. Sheldon Whitehouse today predicted that a controversial bill involving unions does not have enough votes to pass the Senate. At a forum sponsored by the Greater Providence Chamber of Commerce, Whitehouse was asked about the Employee Free Choice......
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1:17 PM Mon, Mar 30, 2009 | Permalink |
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By Business staff Email
By Andy Smith Journal Staff Writer Channel 10, WJAR-TV, announced it will cut 12 more jobs, adding to the 12 already announced in December. Among those leaving the station will be chief meteorologist Gary Ley, weekend anchor Kelley McGee and......
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1:06 PM Mon, Mar 30, 2009 | Permalink |
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By Neil Downing Email
Rhode Island Hospital is looking overseas to fill some nursing jobs because there aren't enough job candidates in Rhode Island or elsewhere in the nation, U.S. Rep. Patrick Kennedy said today. Rhode Island Hospital is one of a number of......
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10:26 AM Mon, Mar 30, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
Providence Journal photo / Bob Breidenbach John Maconi of Greystone Corporation in Lincoln LINCOLN --A high-precision machining and plating company that formerly did most of its work for the automotive industry has been awarded a three-year contract to manufacture......
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9:16 AM Mon, Mar 30, 2009 | Permalink |
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By Jack Perry Email
PROVIDENCE, R.I. -- General Treasurer Frank T. Caprio announced today that the Office of the Rhode Island General Treasurer will use Twitter to broadcast the State's daily cash flow on a real-time, daily basis. Cash flow is a measure of......
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9:08 AM Mon, Mar 30, 2009 | Permalink |
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By Jack Perry Email
PROVIDENCE, R.I. (AP) -- Governor Carcieri says Rhode Island will receive $17.2 million in federal stimulus money to help put teens to work this summer. Carcieri and legislative leaders planned to announce the funding at a State House news conference......
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8:48 AM Mon, Mar 30, 2009 | Permalink |
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By Business staff Email
The two major Boston newspapers are cutting their workforces in response to declining advertising revenue aggravated by the recession. The Boston Herald announced 24 layoffs - 13 voluntary and 11 involuntary - for a staff reduction of 6 percent. "We've......
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8:48 AM Mon, Mar 30, 2009 | Permalink |
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By Business staff Email
The two major Boston newspapers are cutting their workforces in response to declining advertising revenue aggravated by the recession. The Boston Herald announced 24 layoffs - 13 voluntary and 11 involuntary - for a staff reduction of 6 percent. "We've......
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6:46 PM Fri, Mar 27, 2009 | Permalink |
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By Neil Downing Email
By Neil Downing Providence Journal MoneyLine Columnist If you've lost your job and are collecting unemployment benefits, you have at least some comfort knowing that the first $2,400 of your benefits will escape federal income tax. It's the result of......
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3:35 PM Fri, Mar 27, 2009 | Permalink |
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By Paul Grimaldi Email
A Woonsocket-based manufacturer of health and safety products for children said Friday it plans to lay off about 17 of its 170 employees over the next several months. Summer Infant Inc. also plans to sell its new corporate headquarters to......
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3:00 PM Fri, Mar 27, 2009 | Permalink |
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By Barbara Polichetti Email
Colibri, the bankrupt East Providence jewelry maker, has auctioned off most of its assets. Journal file photo / Steve Szydlowski The high-end cigarette lighters, Seth Thomas clocks, Movado watches and other brand-name accessories long under the umbrella of East......
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11:14 AM Fri, Mar 27, 2009 | Permalink |
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By Benjamin N. Gedan Email
Journal file photo / Connie Grosch Sandra M. Powell, director of the Department of Labor and Training, has repeatedly been called to testify at the House Finance Committee about backlogs at the state's unemployment insurance office. Here's one national......
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8:39 AM Fri, Mar 27, 2009 | Permalink |
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By Business staff Email
Providence and Worcester Railroad Co. reported a 2008 profit of $166,000, or three cents a share, compared with its 2007 loss of $652,000, or 14 cents a share. Revenue rose 14 percent last year to $30.79 million. Revenue was boosted......
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5:55 PM Thu, Mar 26, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. - Brown University researchers have developed a system that lets robots follow people better than some dogs follow their masters. A group led by Chad Jenkins, an assistant professor of computer science, came up with a way for......
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3:18 PM Thu, Mar 26, 2009 | Permalink |
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By Bruce Landis Email
Governor Carcieri is shifting $20 million to the cities and towns to help them resurface roads and replace sidewalks. The move followed complaints from local officials who have watched the state Department of Transportation receive $138 million for highway and......
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2:36 PM Thu, Mar 26, 2009 | Permalink |
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By Business staff Email
PROVIDENCE, R.I. -- Amtrak is getting a $1.3 billion-boost in federal stimulus money, a big chunk of which will be used in Northeast Corridor facilities to tighten security, bring needed upgrades and efficiency to those locations. The funding, a part......
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1:03 PM Thu, Mar 26, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Paul Edward Parker Journal Staff Writer Single-family houses in Rhode Island lost a quarter of their value from February last year to February this year, according to a report by a Boston-based real estate consulting firm. The median sales......
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12:33 PM Thu, Mar 26, 2009 | Permalink |
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By Benjamin N. Gedan Email
Governor Carcieri Thursday called for training more biotechnology workers in Rhode Island, saying the state faces intense competition for high-tech companies. "There's a huge competition going on right now, not just in this country but internationally, for this industry," Carcieri......
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9:40 AM Thu, Mar 26, 2009 | Permalink |
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By Jack Perry Email
PROVIDENCE, R.I. (AP) -- The median price of a home in Rhode Island has fallen by 20 percent or more for four straight months compared with the same time last year. The Warren Group, a Boston-based real estate consulting firm,......
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12:43 PM Wed, Mar 25, 2009 | Permalink |
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By Andy Smith Email
The Governor's Workforce Board announced Wednesday that it is awarding $2 million in workforce training grants to 77 Rhode Island employers. The grants will benefit nearly 6,700 workers. The grants, which are matched on a 50/50 basis by employers, are......
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11:02 AM Wed, Mar 25, 2009 | Permalink |
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By Benjamin N. Gedan Email
PROVIDENCE, R.I. -- Grow Smart Rhode Island Wednesday called for a "major shift" in the state's economic development model, arguing that high technology companies are most likely to be built in "historic, funky and vibrant neighborhoods." In releasing its recommendations,......
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9:53 AM Wed, Mar 25, 2009 | Permalink |
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By Benjamin N. Gedan Email
Journal archive photo / Gretchen Ertl Governor Carcieri visits the state's booth at the BIO International Convention in Boston in May 2007. PROVIDENCE, R.I. -- Governor Carcieri will speak at a conference in Providence on Thursday to discuss how......
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8:16 AM Wed, Mar 25, 2009 | Permalink |
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By Business staff Email
Warwick Ice Cream is expanding by leasing a 15,000 square foot warehouse off Jefferson Blvd. in Warwick to store dry goods items. The space will be used as a packing area and storage for products for large outside companies. Warwick......
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3:29 PM Tue, Mar 24, 2009 | Permalink |
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By Benjamin N. Gedan Email
Scott Brass, a Cranston metal manufacturer that shut down last October and laid off its 50 workers, is reopening. Stoutheart Corp., based in Cleveland, Ohio, has purchased the business and restarted production, according to Lawrence DiBoni, the economic development director......
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2:40 PM Tue, Mar 24, 2009 | Permalink |
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By Benjamin N. Gedan Email
No wonder T.F. Green Airport is in the dumps. Globally, airlines are expected to lose $4.7 billion this year, with revenues falling faster than after the Sept. 11, 2001 terrorist attacks, The Huffington Post reported Tuesday. The story cites a......
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1:32 PM Tue, Mar 24, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
EAST GREENWICH, R.I. - With today's headlines talking about junk bonds, bad loans and Ponzi schemes, the town has decided to offer an investment opportunity to consumers that should be a lot more stable -- itself. On April 8, when......
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9:45 AM Tue, Mar 24, 2009 | Permalink |
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By Paul Grimaldi Email
Gulf Oil has discount deals going with two of the region's major food dealers -- Dunkin' Donuts and Shaw's Supermarkets -- to offer customers gasoline savings through a retail partner program. Shoppers who make a minimum purchase of $50 worth......
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8:39 AM Tue, Mar 24, 2009 | Permalink |
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By Jack Perry Email
WASHINGTON, D.C. -- A Rhode Islander who saw the interest rate on his credit card more than double even though he made regular payments on the account will testify this morning at a Senate subcommittee hearing on abusive credit card......
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8:32 AM Tue, Mar 24, 2009 | Permalink |
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By Business staff Email
James V. DeRentis, executive vice president and chief business officer at Bancorp Rhode Island, will resign, effective April 3, according to a regulatory filing. "Jim has played a large role in helping to grow BankRI from a relatively unknown startup......
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3:17 PM Mon, Mar 23, 2009 | Permalink |
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By Andy Smith Email
East Providence, RI -- Victoria & Co., the East Providence firm that designs, markets and distributes wholesale fashion jewelry and other products for its owner, the Jones Apparel Group, Inc., is cutting about 70 jobs in Rhode Island. "It is......
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3:05 PM Mon, Mar 23, 2009 | Permalink |
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By Bruce Landis Email
A Narragansett woman has sued two Massachusetts agencies, accusing them of "blatant" discrimination in the tolls they charge to out-of-state residents. Carol L. Surprenant, a retired University of Rhode Island business professor, filed the lawsuit Friday against the Massachusetts Turnpike......
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2:23 PM Mon, Mar 23, 2009 | Permalink |
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By Benjamin N. Gedan Email
By Paul Edward Parker Journal Staff Writer The average number of passengers using T.F. Green Airport each day in February fell 9 percent compared to a year ago, according to numbers compiled by the state's airport agency. And February 2008......
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12:12 PM Mon, Mar 23, 2009 | Permalink |
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By Benjamin N. Gedan Email
PROVIDENCE, R.I. -- Providence-based GTECH Holdings Corp. has won a seven-year contract to design online lottery games for the State of New York, the company announced. The state has the option to extend the contract for three additional years. The......
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11:33 AM Mon, Mar 23, 2009 | Permalink |
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By Benjamin N. Gedan Email
The state Economic Development Corporation today is debating this year's Economic Growth Plan, a policy paper that helps define the agency's agenda. In introducing last year's plan, the EDC warned that Rhode Island was at a "tipping point" and called......
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10:39 AM Mon, Mar 23, 2009 | Permalink |
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By Benjamin N. Gedan Email
Keep college grads in R.I. Build the country's first offshore wind farm. Link entrepreneurs and college innovators. Those are some of the suggestions for fixing the state's economy from the state's most promising high-tech entrepreneurs featured in The Providence Sunday......
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8:52 AM Mon, Mar 23, 2009 | Permalink |
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By Business staff Email
The U.S. Commerce Department's Economic Development Administration has granted $60,000 to the Southeastern Regional Planning and Economic Development District in Taunton, Mass., to continue economic development planning. Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer, said, "This EDA grant......
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6:12 PM Fri, Mar 20, 2009 | Permalink |
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By Neil Downing Email
Rhode Island could save more than $49 million a year by eliminating the favorable tax treatment that the state currently provides for capital gains, a new report says. Rhode Island is one of only nine states that currently offer a......
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2:35 PM Fri, Mar 20, 2009 | Permalink |
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By Jack Perry Email
By Neil Downing Journal staff writer Six community groups and other organizations in Rhode Island, including the International Institute of Rhode Island and the Westerly Public Library, will team up with the Internal Revenue Service tomorrow to offer free tax......
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7:32 AM Fri, Mar 20, 2009 | Permalink |
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By Jack Perry Email
WALTHAM, Mass. (AP) -- National Grid is the latest utility to announce a significant drop in natural gas rates for the summer season. The company said Thursday that it has filed with state regulators for a rate of 51 cents......
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7:36 AM Thu, Mar 19, 2009 | Permalink |
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By Business staff Email
The state Department of Transportation today is posting 89 new jobs, ranging from historic preservation specialist/architectural historian to civil engineer and senior word processing typist. Some positions require a civil service exam. The application period for the test runs through......
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4:24 PM Wed, Mar 18, 2009 | Permalink |
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By Paul Grimaldi Email
Meatpackers and retail stores began tagging their goods differently this week as Country of Origin Labeling Law (COOL) went into effect Monday on a variety of products. Under the law, producers of fresh meats, many fruits and vegetables, and assorted......
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3:03 PM Wed, Mar 18, 2009 | Permalink |
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By Paul Grimaldi Email
Dunkin' Donuts on Wednesday launched an online doughnut recipe contest topped with a sweet $12,000 grand prize. Beginning Wednesday and running through April 7, visitors to www.DunkinDonuts.com/donut can create a virtual doughnut concoction from among dozens of flavors, toppings, fillings......
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1:01 PM Wed, Mar 18, 2009 | Permalink |
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By Benjamin N. Gedan Email
There's a new audience for the Foxy Lady's come-hither ads: the unemployed. One of the state's best-known strip clubs is hosting a job fair on Saturday, promising to hire as many as 25 new employees as managers, dancers, DJs, bartenders......
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12:31 PM Wed, Mar 18, 2009 | Permalink |
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By Paul Grimaldi Email
The top executive for the Mohegan Sun casino said Wednesday he's looking ahead to a turnaround in the national economy and a realignment of political perceptions in the Bay State, both of which are needed for him to push ahead......
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8:29 AM Wed, Mar 18, 2009 | Permalink |
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By Business staff Email
Astro-Med, Inc., based in West Warwick, reported fourth quarter net income of $263,000, or four cents per diluted share on sales of $15.6 million. During the comparable period a year ago, the company reported net income of $1.3 million, or......
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5:05 PM Tue, Mar 17, 2009 | Permalink |
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By Paul Grimaldi Email
Massachusetts-based Bertucci's Corp. announced Tuesday it has sold the Vinny T's restaurant chain to New York-based C&T Restaurant Management LLC. Bertucci's purchased Vinny T's in 2006 and is selling the seven-restaurant chain to focus on its Bertucci's Italian Restaurant outlets.......
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4:53 PM Tue, Mar 17, 2009 | Permalink |
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By Benjamin N. Gedan Email
There were only 670,000 job openings in the Northeast in January, down from 984,000 a year ago, according to a new report from the U.S. Bureau of Labor Statistics. Nationally, there were 3 million job openings in January, down from......
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2:58 PM Tue, Mar 17, 2009 | Permalink |
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By Alex Kuffner Email
The chief operating officer of Deepwater Wind praised a preliminary agreement between two federal agencies for permitting off-shore renewable energy projects. Chris Wissemann, who founded the New Jersey-based company proposing a wind farm off the coast of Rhode Island, called......
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2:45 PM Tue, Mar 17, 2009 | Permalink |
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By Paul Grimaldi Email
Beauty product firm Coty Inc. is opening an office in Cumberland near the headquarters of drugstore chain CVS Caremark Corp. (CVS:NYSE), according to the Economic Development Foundation of Rhode Island. Coty sells cosmetics, fragrances, skin care and toiletry products under......
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12:40 PM Tue, Mar 17, 2009 | Permalink |
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By Alex Kuffner Email
NORTH KINGSTOWN, R.I. --- The Quonset Development Corporation has terminated a reservation for waterfront property at the Port of Davisville given to the USS Saratoga Museum Foundation, the nonprofit behind a plan for a military museum and park at the......
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12:17 PM Tue, Mar 17, 2009 | Permalink |
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By Bruce Landis Email
By Bruce Landis Journal staff writer PAWTUCKET, R.I. -- To the surprise of passersby, the police and the trucking industry itself, trucks keep crossing the Route 95 bridge over the Pawtucket River despite fines for violating its weight limit, according......
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12:05 PM Tue, Mar 17, 2009 | Permalink |
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By Benjamin N. Gedan Email
A search for "Del's Lemonade" on Google turns up more than 1 million hits, a sign of the broad and continuing fascination with one of Rhode Island's best-known brands. A blog written by the office of General Treasurer Frank Caprio......
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1:15 PM Mon, Mar 16, 2009 | Permalink |
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By Benjamin N. Gedan Email
Former employees of The Colibri Group, the bankrupt jewelry maker, plan to organize a protest at the auction of the company's assets. The sale of the company's leftover products -- including expensive cigarette lighters, cigar cutters, cuff links, money clips,......
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12:39 PM Mon, Mar 16, 2009 | Permalink |
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By Neil Downing Email
Six community groups and other organizations in Rhode Island, including the International Institute of Rhode Island and the Westerly Public Library, will team up with the Internal Revenue Service this Saturday to offer free tax help as tax-filing deadline nears.......
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11:52 AM Mon, Mar 16, 2009 | Permalink |
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By Neil Downing Email
U.S. Sen. Sheldon Whitehouse today sharply criticized American International Group (AIG), the ailing insurance company that has received billions of dollars in federal bailout funds. AIG recently disclosed that it plans to pay $450 million in bonuses to some employees......
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8:48 AM Mon, Mar 16, 2009 | Permalink |
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By Business staff Email
Media General, the Virginia-based media company that ownes WJAR-Channel 10, will close its Washington bureau at the end of March, trimming its staff by six reporters. The company said it offered severance packages to all the staffers in the Washington......
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5:38 PM Fri, Mar 13, 2009 | Permalink |
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By Neil Downing Email
By Neil Downing Providence Journal MoneyLine Columnist The chairman was in a playful mood at the State House the other day. And why not? His day of hearings began with a now familiar scene: Representatives of the state Department of......
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3:30 PM Fri, Mar 13, 2009 | Permalink |
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By Paul Grimaldi Email
Foxwoods Resort Casino today reported $58 million in slot revenue last month, a 1 percent increase over February 2008. As part of their revenue sharing agreement, the casino's owners, the Mashantucket Pequot Tribal Nation, paid $14.5 million to Connecticut, increasing......
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2:43 PM Fri, Mar 13, 2009 | Permalink |
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By Andy Smith Email
Middletown, R.I. -- Newport Creamery, owned by The Jan Cos. of Cranston, is moving its ice cream production plant from Middletown to an undisclosed location in southeastern Massachusetts. The old plant was located behind the Newport Creamery restaurant at 208......
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12:09 PM Fri, Mar 13, 2009 | Permalink |
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By Lisa Vernon-Sparks Email
PROVIDENCE, R.I. -- South Eastern Economic Development Corporation is expanding its micro-loan business in Rhode Island. In business 27 years, the Taunton-based company made its announcement this morning, along with the Rhode Island Small Business Administration, to a small group......
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12:05 PM Fri, Mar 13, 2009 | Permalink |
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By Bruce Landis Email
Looking for ways to generate huge sums to fix crumbling bridges and highways, state officials are working towards a plan to charge tolls on one or more of the state's highways. However, federal program restrictions and experience elsewhere suggest that......
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11:00 AM Fri, Mar 13, 2009 | Permalink |
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By Paul Grimaldi Email
Bancorp Rhode Island (BARI:NASDAQ) and a pair of dissident investors have called a truce in their nearly three-year fight over operation of the Providence-based financial institution, according to filings made today with the Securities and Exchange Commission. Executives at Bancorp......
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7:35 PM Thu, Mar 12, 2009 | Permalink |
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By Neil Downing Email
Gov. Carcieri's tax-reform panel proposed up to $130 million a year in tax relief for individuals and businesses as part of the panel's final report issued Monday. The report sets forth sweeping changes to the state's individual income tax system,......
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7:18 PM Thu, Mar 12, 2009 | Permalink |
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By Neil Downing Email
People phoning Rhode Island's unemployment insurance call center wind up on hold for more than an hour on average before they can file claims for benefits -- assuming they can get through at all. The Rhode Island Department of Labor......
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6:26 PM Thu, Mar 12, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
Providence Journal photo / Kris Craig By Barbara Polichetti Journal staff writer PROVIDENCE, R.I. -- It took Dominique Dawes a long time to feel comfortable in front of a crowd if she was clad in anything other than a......
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5:32 PM Thu, Mar 12, 2009 | Permalink |
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By Neil Downing Email
People who phone Rhode Island's unemployment call center wind up on hold for more than an hour on average before they can file claims for benefits -- assuming they can get through at all. The Rhode Island Department of Labor......
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3:19 PM Thu, Mar 12, 2009 | Permalink |
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By Paul Grimaldi Email
The Massachusetts Department of Environmental Protection and a trade association that represents more than 500 grocery stores in the Bay State today pledged to work together to cut down on the use of disposable and plastic grocery bags. The five-year......
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2:50 PM Thu, Mar 12, 2009 | Permalink |
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By Barbara Polichetti Email
SMITHFIELD, R.I. -- Nearly 1,000 business professionals -- from corporate computer programmers to solo entrepreneurs -- converged on Bryant University today for its 12th annual Women's Summit. Entitled "Champions in a Changing Environment," the day-long event offered keynote speakers plus......
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12:00 PM Thu, Mar 12, 2009 | Permalink |
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By Paul Grimaldi Email
Shaw's Supermarkets is offering customers $20 or $30 of free groceries with the purchase of grocery gift cards worth $250 or $300 as part of a "refund rewards" program that starts today. Shaw's starts the new refund sales program as......
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2:43 PM Wed, Mar 11, 2009 | Permalink |
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By Alex Kuffner Email
PROVIDENCE, R.I. -- Deepwater Wind's $1.5 billion proposal for a wind farm off the coast of Rhode Island could create as many as 1,200 jobs in state to design the project, assemble its components and install them. Over the long......
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12:25 PM Wed, Mar 11, 2009 | Permalink |
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By Benjamin N. Gedan Email
Rhode Island's unemployment rate remained by the far the highest in New England in January, according to a report released today by the federal Bureau of Labor Statistics. It is the third highest for the month in the country. The......
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8:11 AM Wed, Mar 11, 2009 | Permalink |
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By Business staff Email
Fitch Ratings has assigned an 'A+' rating to the Rhode Island Convention Center Authority's $500,000 refunding revenue bonds. This is the federally taxable series of an offering that also includes $72 million refunding revenue bonds, 2009 series A. The bonds......
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3:25 PM Tue, Mar 10, 2009 | Permalink |
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By Bruce Landis Email
Rhodes Technologies, a Coventry pharmaceutical manufacturer, says it wants to expand, but that it wants the town to update its sewer plans first to include it. The company says it wants to expand its existing operations, creating 20 new jobs......
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3:24 PM Tue, Mar 10, 2009 | Permalink |
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By Paul Grimaldi Email
The new chairman of Citizens Financial Group told The Providence Journal this morning the nation's eighth-largest bank will focus on core activities such as commercial and consumer lending as it restructures operations. During an interview on the 12th floor of......
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11:49 AM Tue, Mar 10, 2009 | Permalink |
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By Benjamin N. Gedan Email
Kevin Dillon, who is struggling to keep passengers flying at T.F. Green Airport, will discuss the airport's challenges tomorrow at a meeting with Governor Carcieri's top economic advisers. Dillon, hired by the Rhode Island Airport Corporation board a year ago,......
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10:06 AM Tue, Mar 10, 2009 | Permalink |
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By Business staff Email
Five of Rhode Island's top women leaders spoke this morning at a Greater Providence Chamber of Commerce panel discussion about how they are addressing the challenging economy. The panelists were: Acting Chief Justice Maureen McKenna Goldberg, Rhode Island Supreme Court;......
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7:23 AM Tue, Mar 10, 2009 | Permalink |
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By Business staff Email
Providence-based GTECH Corp., a unit of Italy-based Lottomatica, has signed a contract amendment with the Tennessee Education Lottery Corporation to continue providing online lottery technology for an additional 4 years. GTECH expects to receive revenues of approximately $50 million over......
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6:19 PM Mon, Mar 09, 2009 | Permalink |
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By Neil Downing Email
A package of tax-reform proposals issued today is "unsound, unaffordable, and unfair to Rhode Island taxpayers and small businesses,'' according to The Poverty Institute, a think tank at the Rhode Island College School of Social Work that analyzes tax and......
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4:21 PM Mon, Mar 09, 2009 | Permalink |
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By Paul Grimaldi Email
CVS Caremark Corp. has temporarily closed about 90 of its in-store health clinics, a company spokeswoman said today. "MinuteClinic began operating selected clinics in some of its markets across the country on a seasonal schedule," Carolyn Castel, the CVS spokeswoman......
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3:43 PM Mon, Mar 09, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
PROVIDENCE -- The U.S. Securities and Exchange Commission today charged a Rhode Island woman with making up a $1 billion client to attract real clients to her money managing company. The commission filed suit in U.S. District Court against Leila......
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2:50 PM Mon, Mar 09, 2009 | Permalink |
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By Barbara Polichetti Email
SOUTH KINGSTOWN, R.I. _ The South Kingstown Chamber of Commerce announced today that it will honor all local gift certificates despite the collapse last week of the national company responsible for processing the payments. "Even though it means that we......
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8:36 AM Mon, Mar 09, 2009 | Permalink |
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By Business staff Email
Royal Bank of Scotland Group, the owner of Providence-based Citizens Financial Group, is providing chairman Philip Hampton with free use of a $2.2 million house in Edinburgh, according to Bloomberg News. The Royal Bank bought the house on Heriot Row......
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5:31 PM Fri, Mar 06, 2009 | Permalink |
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By Andy Smith Email
PROVIDENCE -- A group of trained volunteers, certified by the IRS, will be available at several locations in Providence next week to help people file their taxes online. The project is a partnership between local nonprofit agencies led by the......
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5:18 PM Fri, Mar 06, 2009 | Permalink |
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By Andy Smith Email
MIDDLETOWN, RI - A sophomore at Middletown High School was awarded a full, four-year scholarship to Roger Williams University as part of the 2009 GRRL Tech expo held at the university today. The scholarship, which includes $1,000 annually to buy......
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1:31 PM Fri, Mar 06, 2009 | Permalink |
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By Business staff Email
The Rhode Island Dept. of Labor said today it has been approved for a $75 million line of credit to replenish the state's unemployment insurance fund used to pay benefits to jobless workers. The state said that on Monday, the......
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11:45 AM Fri, Mar 06, 2009 | Permalink |
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By Alex Kuffner Email
PROVIDENCE, R.I. -- Eric Goetz has retained ownership of his world-famous yacht building company after placing the sole bid on its assets during a court-ordered auction this morning. Goetz bid $540,000 for the holdings of Goetz Custom Sailboats, the Bristol......
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8:37 AM Fri, Mar 06, 2009 | Permalink |
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By Business staff Email
The U.S. unemployment rate surged in February to the highest level in more than 25 years as payrolls fell by 651,000, the Labor Dept. reported this morning. The jobless rate surged to 8.1 percent, more than forecast and the highest......
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2:28 PM Thu, Mar 05, 2009 | Permalink |
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By Andy Smith Email
The New England Institute of Technology held its annual career expo this morning, with about 50 employers, among them Electric Boat, Hasbro, Cox Communications and Swarovski North America. The expo was open to New England Tech students and graduates. Steven......
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12:00 PM Thu, Mar 05, 2009 | Permalink |
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By Christine Dunn Email
Rhode Island's rental vacancy rate dipped to 8.2 percent in the fourth quarter of 2008, down 17 percent compared to the same period in 2007, according to U.S. Census data. The reduction in the supply of vacant apartments was accompanied......
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7:21 AM Thu, Mar 05, 2009 | Permalink |
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By Business staff Email
While Rhode Island's housing market in January was nothing short of dismal, the misery was not spread evenly around the state, according to figures from the Rhode Island Association of Realtors. Statewide, prices for single-family homes dropped 29 percent in......
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![Providence nonprofits.pdf]( "Providence nonprofits.pdf border=")
3:58 PM Wed, Mar 04, 2009 | Permalink |
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By Benjamin N. Gedan Email
Theaters, museums and other nonprofit organizations are "in jeopardy" of collapse as donations and attendance slow, according to a study released today. Loyal patrons are aging and former subscribers are increasingly opting for single tickets. Even free events have empty......
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3:23 PM Wed, Mar 04, 2009 | Permalink |
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By Neil Downing Email
The Internal Revenue Service plans to hold special Saturday hours on March 21 at 253 of its offices nationwide - including one in Providence - as a way of making the agency more accessible to taxpayers as the filing deadline......
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11:31 AM Wed, Mar 04, 2009 | Permalink |
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By Paul Edward Parker Email
The parent company of Showcase Cinemas has reached a tentative agreement with lenders to restructure more than $1 billion in debt. National Amusements said in a statement that the agreement would extend the maturity on the company's existing debt, which......
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10:08 AM Wed, Mar 04, 2009 | Permalink |
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By Benjamin N. Gedan Email
Drugmaker Amgen announced today a new ad campaign featuring Project Runway's fashion guru, Tim Gunn. Co-sponsored by Wyeth Pharmaceuticals, the "Addressing Psoriasis" campaign aims to persuade patients with plaque psoriasis to visit a dermatologist and "feel more confident in......
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8:08 AM Wed, Mar 04, 2009 | Permalink |
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By Business staff Email
BJ's Wholesale Club Inc., the third- largest U.S. warehouse-club chain, this morning reported fourth-quarter profit grew 4.8 percent. Net income rose to $52.7 million, or 91 cents a share, from $50.2 million, or 80 cents, a year earlier, the Natick,......
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7:22 AM Wed, Mar 04, 2009 | Permalink |
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By Business staff Email
U.S. Sens. Jack Reed and Michael Bennet today will discuss Democrats' efforts to strengthen the economy by passing last year's appropriations bills. Among other benefits, the bills will ensure that children have access to K-12 education, students can pay for......
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1:30 PM Tue, Mar 03, 2009 | Permalink |
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By Lisa Vernon-Sparks Email
NARRAGANSETT - When it gets up and running in a few weeks, the town's new economic development committee plans to focus on attracting year-round businesses who can survive beyond the beach-friendly season. On Monday, the Town Council unanimously voted to......
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1:24 PM Tue, Mar 03, 2009 | Permalink |
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By Paul Edward Parker Email
New numbers from a Boston-based consultant confirm what the Rhode Island Association of Realtors has reported about the January housing market in the Ocean State: single-family house sales did poorly and condos did worse. The Warren Group of Boston tracks......
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12:59 PM Tue, Mar 03, 2009 | Permalink |
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By Andy Smith Email
About 100 jobs will be transferred from Massachusetts to Rhode Island when FM Global's new headquarters in Johnston is completed. Despite a legal controversy, the commercial property insurer is proceeding with construction of its new 360,000-square foot headquarters, due for......
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12:03 PM Tue, Mar 03, 2009 | Permalink |
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By Benjamin N. Gedan Email
U.S. Bureau of Labor Statistics Rhode Island's increase in unemployment was the worst in the nation last year, the U.S. Bureau of Labor Statistics announced today. The jobless rate in Rhode Island rose last year by 2.6 percentage points,......
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10:03 AM Tue, Mar 03, 2009 | Permalink |
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By Paul Grimaldi Email
A crumbling national economy and lousy weather are thinning sales of Girl Scout cookies, those sweet morels of edible Americana that brighten up dull winter days. Sales of Thin Mints, Caramel deLites and other favorites are off 2.8 percent, according......
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9:41 AM Tue, Mar 03, 2009 | Permalink |
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By Paul Grimaldi Email
Debbie Snelling leaves a Circuit City store in Richmond, Va., last November. Bloomberg News photo / Jay Paul Looks like the liquidation sale at electronics retailer Circuit City is winding down as signs posted at its stores indicate March......
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8:36 AM Tue, Mar 03, 2009 | Permalink |
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By Business staff Email
Here's a switch - business owners in favor of a tax hike. Five business groups, including the Massachusetts Business Roundtable, yesterday endorsed a 25-cent hike in the Massachusetts gas tax that would make it the highest in the nation. The......
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3:33 PM Mon, Mar 02, 2009 | Permalink |
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By Paul Edward Parker Email
The Rhode Island condominium market continued to weaken sharply in January, according to statistics tracked by the Rhode Island Association of Realtors. The median sales price for a condo declined 21 percent in January when compared to the same month......
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3:25 PM Mon, Mar 02, 2009 | Permalink |
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By Andy Smith Email
The Rhode Island Department of Transportation is recruiting summer interns interested in engineering and transportation. College students in good academic standing are eligible for the internships, which run from mid-May through mid-September. Pay ranges from $9 to $13 per hour.......
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3:06 PM Mon, Mar 02, 2009 | Permalink |
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By Paul Grimaldi Email
General Growth Properties , the owner of Providence Place mall, laced its latest federal regulatory filings with cautionary language about its precarious financial position. The company appears to be on the brink of bankruptcy. "Given the continued weakness of the......
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11:38 AM Mon, Mar 02, 2009 | Permalink |
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By Paul Grimaldi Email
Advertising Age takes a brief look at retailers who are finding efficient ways to attract and retain customers in these trying economic times and points to CVS Caremark as one of its success stories. The Woonsocket-based drugstore chain uses its......
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11:11 AM Mon, Mar 02, 2009 | Permalink |
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By Paul Grimaldi Email
Ted's Montana Grill is running a month-long contest that offers entrants a chance to win a new Toyota Prius or a trip for two to the Big Sky Country of Montana. The restaurant chain, which has an outlet in Cranston......
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10:32 AM Mon, Mar 02, 2009 | Permalink |
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By Benjamin N. Gedan Email
The New York Times on Sunday reported on Rhode Island's economic struggles, asking several prominent Rhode Islanders to diagnose the state's "especially grim economic meltdown." "The smallest state, it is saddled with some of the nation's biggest problems: the second......
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8:36 AM Mon, Mar 02, 2009 | Permalink |
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By Business staff Email
The Boston Herald has mailed letters to 400 employees, seeking 20 buyouts to cut the newspaper's expenses as advertising sales slump in the recession. "The efficiencies the Boston Herald has undertaken in the past few years have allowed us to......
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