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May 2009 Archives
5:27 PM Fri, May 29, 2009 | Permalink |
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By Andy Smith  Email
If it works for Donald Trump, why not the NYLO hotel in Warwick? Management of the hotel, located in a restored mill building at 400 Knight St., will hold a competition next week inspired by Trump's TV reality show, The......
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4:17 PM Fri, May 29, 2009 | Permalink |
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By News staff Email
Senate President M. Teresa Paiva Weed has filed legislation to overhaul the state Economic Development Corporation, after a review panel criticized the agency as ineffective and in need of fresh leadership. The bill, submitted on Wednesday, would expand the agency's......
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2:10 PM Fri, May 29, 2009 | Permalink |
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By News staff Email
NARRAGANSETT, R.I. -- On Saturday night, Narragansett officials will dedicate the opening of the new Casino Courtyard park adjacent to The Towers, the 1885-historic structure, near the town beach, which overlooks the Atlantic on Ocean Road. The two-hour event begins......
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12:34 PM Fri, May 29, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Andy Smith Journal staff writer Data on mortgage loans in Rhode Island for the first three months of 2009 shows the delinquency rate -- loans at least 30 days behind -- has dropped, while the rate of foreclosures has......
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11:39 AM Fri, May 29, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
WARWICK, R.I. -- Verizon's residential customers are going to be paying more for some land line phone services, beginning in June. The Public Utilities Commission Friday morning approved higher rates for various call waiting, call forwarding, multi-call, and speed-dialing services.......
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1:23 PM Thu, May 28, 2009 | Permalink |
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By Benjamin N. Gedan Email
USA Today reported Thursday that federal agencies have not directly spent any stimulus money in Rhode Island, despite the state's sky-high jobless rate. "The $787 billion recovery package was intended to help turn around the economy using federal money......
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12:38 PM Thu, May 28, 2009 | Permalink |
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By Paul Grimaldi Email
Woonsocket-based drugstore chain CVS Caremark Corp. has introduced "clip and print" coupons to its Web site, offering visitors the ability to print coupons that can be redeemed at CVS pharmacies. Both general manufacturer's coupons and CVS-only offers are included on......
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12:10 PM Thu, May 28, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. -- A computer simulation that mimics the growth of gliomas, the type of brain cancer afflicting Sen. Edward Kennedy, may help doctors develop better treatment for the often-fatal condition, according to a Brown University researcher who helped develop......
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11:56 AM Thu, May 28, 2009 | Permalink |
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By Benjamin N. Gedan Email
Providence Journal photo / Bob Thayer Tent cities for the homeless, like this one off South Water Street in Providence, have popped up around Rhode Island, a sign of the impacts of the prolonged recession. PROVIDENCE, R.I. -- A......
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11:50 AM Thu, May 28, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Lisa Vernon-Sparks Journal staff writer WARWICK, R.I. -- Cape Air is offering another season of nonstop service from Providence to the Cape and islands, the Rhode Island Airport Corporation announced Wednesday. Beginning June 5, flights will leave daily from......
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2:06 PM Wed, May 27, 2009 | Permalink |
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By News staff Email
By Andy Smith Journal staff writer Two surveys of the Rhode Island housing market show that median housing prices in the state continue to decline. The median price of a single-family house in Rhode Island fell by 23.2 percent between......
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11:10 AM Wed, May 27, 2009 | Permalink |
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By Paul Grimaldi Email
CVS Caremark Corp. (CVS:NYSE) has opened its third Beauty 360 location, in Ridgefield, Conn., as the Woonsocket company continues its foray into retailing expensive cosmetics. CVS launched Beauty 360 in November 2008 with a location in Washington, D.C., followed soon......
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10:53 AM Wed, May 27, 2009 | Permalink |
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By Paul Grimaldi Email
Cumberland Farms and Gulf Oil have opened a new business support office in Framingham, Mass., in a move that combines the corporate, convenience store, real estate operations and the Gulf Oil LP subsidiary into one office. This is the latest......
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8:17 AM Wed, May 27, 2009 | Permalink |
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By Business staff Email
The Greater Providence Chamber of Commerce said it supports the Federal Aviation Administration's endorsement of a plan to extend the main runway at T.F. Green Airport by 1,600 feet to the south. Laurie White, president of the Greater Providence Chamber......
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10:22 AM Tue, May 26, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. -- Gasoline prices took another big jump over the last week. The typical price at the pump for self-service regular gasoline hit $2.46 Tuesday morning, up 12 cents from just over a week ago and up 16 percent......
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10:09 AM Tue, May 26, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- The number of single-family homes being sold in Massachusetts and the price of those homes dropped last month when compared to the same month a year ago, but there is hope on the horizon. The Massachusetts Association......
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9:24 AM Tue, May 26, 2009 | Permalink |
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By Jack Perry Email
By Paul Edward Parker Journal staff writer WARWICK, R.I. -- The FAA on Tuesday announced it is backing a plan to extend the main runway at T.F. Green Airport to the southwest. The airport has said it must expand to......
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9:20 AM Tue, May 26, 2009 | Permalink |
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By Business staff Email
Amgen Inc., the California-based biotechnology company that makes Enbrel in West Greenwich, paid $50 million for rights to Cytokinetics Inc.'s experimental heart-failure drug. Amgen, based in Thousand Oaks, California, exercised an option that makes it responsible to develop and sell......
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9:09 AM Tue, May 26, 2009 | Permalink |
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By Business staff Email
U.S. Sen. Jack Reed, D-RI, expressed "serious concerns'' over the consistency of rules on whether private- equity firms can buy banks, citing the takeovers of BankUnited Financial Corp. and Flagstar Bancorp Inc. in a letter to regulators including Treasury Secretary......
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5:17 PM Fri, May 22, 2009 | Permalink |
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By Neil Downing Email
Governor Carcieri on Thursday took his proposals for state tax reform directly to the people by posting a video online. In the video, Carcieri outlines his proposals, which include a phase-out of the state's corporate income tax and a reduction......
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2:29 PM Fri, May 22, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Andy Smith Journal staff writer The Trinity Marine Group, a private investment company based in the British Virgin islands, has purchased Quality Yacht Services in Tiverton, plus an adjacent property, for $8.6 million. The company plans to invest another......
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11:45 AM Fri, May 22, 2009 | Permalink |
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By Jack Perry Email
By Christine Dunn Journal staff writer PROVIDENCE, R.I. -- Providence City Councilman John J. Lombardi says that by leasing the 96 newly built Capitol Cove condominiums on Canal Street as dormitory space to Johnson & Wales University, developer Robert S.......
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11:28 AM Fri, May 22, 2009 | Permalink |
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By Paul Grimaldi Email
Dimeo Construction Co. is claiming financially troubled General Growth Properties Inc. owes the Providence construction firm $12.6 million for work it did on a Massachusetts mixed-use project, according to a Dimeo executive. Dimeo filed the lien on Nouvelle at Natick,......
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11:24 AM Fri, May 22, 2009 | Permalink |
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By Paul Grimaldi Email
Hasbro Inc. named Deb Thomas as chief financial officer, the Pawtucket toy company said Friday. She succeeds David Hargreaves, who had been serving as both the chief operating officer and the CFO for a year. Thomas, 45, has been with......
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11:11 AM Fri, May 22, 2009 | Permalink |
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By Paul Grimaldi Email
Friendly Ice Cream Corp., the Wilbraham, Mass., company that operates the Friendly's chain of more than 500 restaurants, will hold a Free Ice Cream Day from noon to 5 p.m on Saturday, June 6. "With 26 flavors to choose from......
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7:51 PM Thu, May 21, 2009 | Permalink |
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By Neil Downing Email
PROVIDENCE, R.I. -- Governor Carcieri on Thursday made a personal plea to the House Finance Committee to pass his proposals for sweeping changes to Rhode Island's tax structure, saying they would help create needed jobs amid a recession and high......
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12:23 PM Thu, May 21, 2009 | Permalink |
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By Bruce Landis Email
By Bruce Landis Journal staff writer SMITHFIELD, R.I. -- Laurent Vernery, the president and CEO of APC by Schneider Electric, told an audience of business men and women at Bryant University's 24th Annual World Trade Day that companies need to......
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11:11 AM Thu, May 21, 2009 | Permalink |
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By Jack Perry Email
By JAY LINDSAY Associated Press Writer BOSTON (AP) -- The worst is not over for the New England economy, with job losses expected to mount until unemployment bottoms out in the middle of next year, according to a regional economic......
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5:39 PM Wed, May 20, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer Rhode Island is wading into a national controversy regarding how state sales taxes are applied to online purchases. State Rep. Steven M. Costantino (D-Providence), chairman of the House Finance Committee, has introduced a bill......
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5:33 PM Wed, May 20, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. -- The Senate on Wednesday passed a bill that, if approved by the House and signed by the governor, would make East Greenwich the third community in which donors can earmark money for specific uses in a school......
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3:33 PM Wed, May 20, 2009 | Permalink |
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By Barbara Polichetti Email
PROVIDENCE, RI -- Employees of the former Colibri Group are going to court to fight for the two months of pay and benefits they say they are entitled to under federal law after the company abruptly closed in January. Greg......
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11:18 AM Wed, May 20, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Benjamin N. Gedan Journal staff writer Koller The dominant health-insurance companies in Rhode Island are seeking large rate increases for next year, said state Health Insurance Commissioner, Christopher F. Koller. If approved, the new rates would mean huge cost......
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3:23 PM Tue, May 19, 2009 | Permalink |
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By Paul Grimaldi Email
Bank of America (BAC:NYSE) has created a web-based financial planning guide for college-age students. The Web site, known as "The Morris Code" reviews financial topics and provides an interactive "discussion" moderated by a "wise upperclassman" named Morris. The site is......
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2:55 PM Tue, May 19, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- The head of the National Oceanic and Atmospheric Administration says a seismic shift in managing local fisheries is key to the industry's future. In a speech in Boston on Tuesday, Jane Lubchenco also touted an extra $18.6......
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2:12 PM Tue, May 19, 2009 | Permalink |
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By Andy Smith Email
The Education Exchange, a Wakefield-based provider of adult education in southern Rhode Island, announced Tuesday that 11 of its computer classes and certification programs have been approved as eligible training programs by the state Department of Labor and Training. That......
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9:21 AM Tue, May 19, 2009 | Permalink |
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By Paul Grimaldi Email
Providence Journal photo / John Freidah A report released Monday by the American Gaming Association places Rhode Island, with $407.5 million in gaming revenue, among the nation's largest racetrack-casino markets. The report comes out as Rhode Island politicians debate......
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8:06 AM Tue, May 19, 2009 | Permalink |
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By Jack Perry Email
By John Mulligan Journal Washington Bureau WASHINGTON -- Ann-Marie Harrington, who built a knack for navigating the Internet into a successful Pawtucket consulting company, is among dozens of small business leaders from around the country who will meet President Obama......
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4:11 PM Mon, May 18, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Paul Edward Parker Journal staff writer Although passenger traffic at T.F. Green Airport was down in April compared to a year earlier. But, for the second straight month, the decline was well off the highs posted in the fall.......
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3:48 PM Mon, May 18, 2009 | Permalink |
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By Alan Rosenberg Email
NORTH PROVIDENCE, R.I. -- Simply paying attention -- to bills, to contracts, to fine print -- is one of the keys to financial responsibility, Laura Levine, national executive director of the Jump$tart Coalition for Personal Financial Literacy and a member......
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3:17 PM Mon, May 18, 2009 | Permalink |
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By Paul Grimaldi Email
The decision by Governor Patrick to introduce competition on auto insurance has spurred another major insurer to seek entry into Massachusetts, moves that could lower premiums for Bay State drivers. Today, Allstate Insurance Co. became the latest insurer to announce......
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2:46 PM Mon, May 18, 2009 | Permalink |
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By Alex Kuffner Email
PROVIDENCE -- State leaders joined representatives of Deepwater Wind LLC at the opening Monday afternoon of the alternative energy company's Rhode Island office. The opening of the office at Exchange Terrace in downtown Providence was yet another signal that the......
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1:35 PM Mon, May 18, 2009 | Permalink |
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By Benjamin N. Gedan Email
The Current Conditions Index, a measure of the state's economic health, was at its lowest possible level in March, pushed down by high unemployment and low retail sales. The monthly index, created by University of Rhode Island Prof. Leonard Lardaro,......
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12:01 PM Mon, May 18, 2009 | Permalink |
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By Paul Grimaldi Email
Two Rhode Islanders are among the dozen finalists in a doughnut-making contest run by Canton, Mass.-based Dunkin' Donuts. Michelle Ventura, of Cranston, and Caitlyn Vandervelde, of Coventry, are among the 12 finalists who will compete for the chance to win......
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10:32 AM Mon, May 18, 2009 | Permalink |
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By News staff Email
PROVIDENCE, R.I. -- Gas prices have jumped another 10 cents this week and have now increased for five straight weeks, according to AAA Southern New England. The average price for a gallon of regular unleaded gasoline is $2.339 at the......
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9:22 AM Mon, May 18, 2009 | Permalink |
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By Business staff Email
Two Rhode Island defense contractors, Systems Engineering Associates Corp. and Syqwest Inc., have won federal contracts to support the naval Undersea Warfare Center in Newport. SEA, of Middletown, won a $23.5-million contract for support systems and network testing at land-based......
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4:36 PM Sat, May 16, 2009 | Permalink |
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By Neil Downing Email
Major League Baseball is not immune from the global recession, according to Boston Red Sox president and CEO Larry Lucchino. Major League Baseball, as an industry, "is not recession-proof," Lucchino told the Providence Journal in an interview following graduation ceremonies......
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2:36 PM Sat, May 16, 2009 | Permalink |
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By Neil Downing Email
Bryant University today awarded an honorary degree to Malcolm G. "Kim" Chace, a Rhode Island business leader and philanthropist. Chace received an honorary doctor of business administration during Bryant's undergraduate commencement, held at Bryant's campus in Smithfield. Bryant University President......
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11:53 AM Sat, May 16, 2009 | Permalink |
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By Neil Downing Email
Larry Lucchino, president and chief executive officer of the Boston Red Sox, was awarded an honorary degree today at Bryant University's undergraduate commencement ceremony in Smithfield. Bryant President Ronald K. Machtley praised Lucchino for his "unique business acumen" and "a......
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5:11 PM Fri, May 15, 2009 | Permalink |
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By News staff Email
WARWICK, R.I. -- If there's growth in commercial cargo flights in and out of Rhode Island, it is better suited to the airport at Quonset Point than T.F. Green Airport in Warwick, according to Kevin Dillon, president and CEO of......
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1:42 PM Fri, May 15, 2009 | Permalink |
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By Business staff Email
General Motors executives said Friday they wouldn't release the names of the 1,100 dealers that the struggling automaker is abandoning. GM dealerships around the country, included seven in Rhode Island, waited Friday morning for word, delivered either by telephone or......
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11:33 AM Fri, May 15, 2009 | Permalink |
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By Alex Kuffner Email
A Plymouth, Mass.-based green energy company is considering building a facility that manufactures wind turbines in Rhode Island. Aeronautica Wind Power has twice visited the Quonset Business Park, in North Kingstown, to look at a 40,000-square-foot space, according to Steven......
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9:07 AM Fri, May 15, 2009 | Permalink |
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By Business staff Email
General Motors Corp. dealers across the country, including seven in Rhode Island, are awaiting word Friday from the company about which of their contracts to sell GM vehicles will be voided. GM said it will notify the dealers by telephone......
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5:12 PM Thu, May 14, 2009 | Permalink |
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By Benjamin N. Gedan Email
PROVIDENCE, R.I. -- A $200,000 grant from the state Economic Development Corporation will help clean up polluted soil at The Steel Yard, the complex off Valley Street that houses a trade school and artists' studios. Like the owners of most......
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2:01 PM Thu, May 14, 2009 | Permalink |
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By Jack Perry Email
By Benjamin Gedan Journal staff writer It's getting more expensive to drive in Rhode Island. Starting Monday, the state Division of Motor Vehicles will be charging substantially more to reinstate licenses and registrations. The license reinstatement fee is nearly doubling,......
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12:25 PM Thu, May 14, 2009 | Permalink |
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By Jack Perry Email
NORTH KINGSTOWN, R.I. (AP) -- One Chrysler dealer in Rhode Island has been targeted for closure as part of the automaker's restructuring process. Tarbox Motors in North Kingstown is one of 789 dealers nationwide that Chrysler has told a bankruptcy......
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9:21 AM Thu, May 14, 2009 | Permalink |
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By Jack Perry Email
LONDON (AP) -- National Grid PLC, which distributes energy in the United Kingdom and the northeastern United States, including Rhode Island and Massachusetts, reported Thursday a 70 percent drop in full-year profit due to higher operating costs, partly caused by......
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8:57 AM Thu, May 14, 2009 | Permalink |
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By Jack Perry Email
INDIANAPOLIS (AP) -- A pharmacists association on Wednesday accused CVS Caremark Corp. of waging unfair competition and asked for a Federal Trade Commission investigation. The National Community Pharmacists Association has accused Woonsocket, R.I.-based CVS of using sensitive patient information and......
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4:25 PM Wed, May 13, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
Darlington Fabrics in Westerly, which makes stretch knit fabrics, has joined the list of companies moving to a four-day workweek in an effort to prevent layoffs in a struggling economy. Monica Coughlin, human resources manager for the parent firm, The......
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2:01 PM Wed, May 13, 2009 | Permalink |
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By Paul Grimaldi Email
Sears Holdings Corp. (SHLD: NASDAQ) is dangling a five-night Caribbean vacation as bait to lure shoppers into snapping up swimsuits on The Island, a new Web site for its Lands' End clothing brand. Visitors to the site can enter the......
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12:16 PM Wed, May 13, 2009 | Permalink |
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By Alan Rosenberg Email
Providence Journal photo / Kathy Borchers Joe DeAngelis, attorney for eventual winning bidder Robert Campellone, looks at the four-family townhouse at 422 Broadway that is part of the Colin C. Baker row in Providence. A four-family townhouse at 422......
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11:00 AM Wed, May 13, 2009 | Permalink |
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By Peter Lord Email
With the economy, and particularly real estate sales, in the doldrums, no state requlator wants to make things worse. And that certainly was the case Tuesday night when the developers of the sprawling The Village on Mount Hope Bay in......
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9:00 AM Wed, May 13, 2009 | Permalink |
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By Business staff Email
Providence-based GTECH Corp., a unit of Lottomatica, has won a four-year contract with the Belgium National Lottery for a new, comprehensive gaming system. The contract was awarded through a competitive bidding process. GTECH has been La Loterie Nationale's online and......
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4:50 PM Tue, May 12, 2009 | Permalink |
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By Andy Smith Email
Providence Journal photo / Bill Murphy A worker repairs the exterior of the Aquidneck Mill building at the International Yacht Restoration School, in Newport, in this photo taken in May 2008. The International Yacht Restoration School is scheduled to......
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4:40 PM Tue, May 12, 2009 | Permalink |
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By Bill Corey Email
By Bruce Landis Journal staff writer It may not surprise Rhode Island drivers, but the state's roads are in the third-worst condition in the nation, according to a new study by a national group of transportation officials. More than two......
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3:26 PM Tue, May 12, 2009 | Permalink |
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By Paul Grimaldi Email
A couple of retailers are holding special sales events this weekend, with jeweler Ross-Simons running a three-day "tent sale" and electronics giant Best Buy hosting frequent customers on Sunday. Ross-Simons is bringing back its once-popular tent sale after an eight-year......
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3:09 PM Tue, May 12, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
Looking for a longer-lasting battery? University of Rhode Island researchers think the secret may be in their salt. A group led by URI chemist Brett Lucht says it has discovered a new type of salt that can dramatically improve the......
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1:35 PM Tue, May 12, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- AAA says the number of Americans planning to travel this Memorial Day weekend is expected to increase slightly over last year, with the New England region seeing one of the most dramatic jumps nationally. AAA Southern New......
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1:11 PM Tue, May 12, 2009 | Permalink |
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By Jack Perry Email
By Benjamin Gedan Journal staff writer PROVIDENCE, R.I. -- So far, the gargantuan federal economic stimulus package has done little to revive Rhode Island's economy, Governor Carcieri said Tuesday. Three months after President Obama signed the historic $787-billion spending bill,......
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11:19 AM Mon, May 11, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. - Gasoline prices have spiked in the past week, rising by 15 cents per gallon to $2.27 for unleaded self-serve regular, according to this morning's survey by the Rhode Island Office of Energy Resources. The hike came as......
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9:09 AM Mon, May 11, 2009 | Permalink |
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By Business staff Email
Eleven branches of the former Benjamin Franklin bank opened Monday morning under the signs of Rockland Trust. Rockland Trust, which acquired Benjamin Franklin Bancorp Inc. for about $84.5 million earlier this year completed the changeover at branches in Bellingham, Foxboro,......
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7:27 AM Mon, May 11, 2009 | Permalink |
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By Jack Perry Email
By Andy Smith Journal staff writer Postal rates are going up. Effective Monday, the price of a first-class stamp goes from 42 cents to 44 cents, while the price to send a postcard rises from 27 cents to 28 cents.......
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5:14 PM Fri, May 08, 2009 | Permalink |
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By Paul Grimaldi Email
Bloomberg News photo Tourists and a downtown Boston lunch crowd gather at the Faneuil Hall Marketplace in Boston, Mass. A unit of Wells Fargo Bank on Thursday asked a federal judge to pull Boston's Faneuil Hall Marketplace out of......
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4:56 PM Fri, May 08, 2009 | Permalink |
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By Alan Rosenberg Email
By Barbara Polichetti Journal Staff Writer WARWICK --- Police say they are investigating the closure of Strand Jewelers and resultant complaints from customers, some of whom say the business shut its doors without returning jewelry they had left there for......
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4:53 PM Fri, May 08, 2009 | Permalink |
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By News staff Email
The state Turnpike and Bridge Authority says it has a hit on its hands: the EZ Pass transponders that let people pay their Pell Bridge tolls electronically. The authority's board chairman, David Darlington, said it has sold more than 52,000......
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4:07 PM Fri, May 08, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
EAST GREENWICH, R.I. -- Despite a unanimous rebuke from the Planning Board, the developer of a controversial Walgreens drug store proposed for the corner of Main Street and First Avenue wants to move ahead with the project. Town Planning Director......
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2:57 PM Fri, May 08, 2009 | Permalink |
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By Paul Grimaldi Email
Shoppers who have working consumer electronic devices, from digital cameras to wireless phones, can use them to get discounts on new RadioShack products. Fort Worth-based RadioShack, which had a trade-in program operating online, decided to expand the program to its......
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2:06 PM Fri, May 08, 2009 | Permalink |
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By Paul Grimaldi Email
Restaurants are extending price breaks on meals as they continue dealing with weak consumer spending, which has plagued the industry for more than a year. Applebee's is adding more menu items to its months-old 2-for-$20 promotion, after more casual-dining competitors......
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12:24 PM Fri, May 08, 2009 | Permalink |
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By Paul Grimaldi Email
Touchstone Crystal Inc., of Cranston, on Friday said it has acquired a California-based direct sales frim for an undisclosed amount. Based in California, Little Black Dress Fashion Jewelry Collection Inc., was started in 2004 as a company to sell to......
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12:10 PM Fri, May 08, 2009 | Permalink |
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By Alan Rosenberg Email
By Christine Dunn Journal Staff Writer One of the six historic Colin C. Baker townhouses in Providence -- the one at 422 Broadway -- will go on the block next Wednesday, May 13 in a foreclosure auction to be held......
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9:15 AM Fri, May 08, 2009 | Permalink |
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By Jack Perry Email
PORTLAND, Maine (AP) -- The lobster population is at an all-time high off the Maine coast but is faring poorly in southern New England, according to a new report. The stock assessment mirrors what lobstermen have seen in recent years:......
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8:32 AM Fri, May 08, 2009 | Permalink |
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By Business staff Email
Royal Bank of Scotland, owner of Providence-based Citizens Financial Group, on Friday reported a first-quarter loss of $1.29 billion as writeoffs from the financial crisis increased despite a jump in revenues, and warned the next two years would be difficult.......
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5:52 PM Thu, May 07, 2009 | Permalink |
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By Neil Downing Email
The state Division of Taxation has used sophisticated new technology to collect nearly $2 million in back taxes from individuals - and is now setting its sights on delinquent corporations. With money from the General Assembly, and backing from Governor......
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5:03 PM Thu, May 07, 2009 | Permalink |
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By Paul Grimaldi Email
An association of state lawmakers asked the U.S. Federal Trade Commission on Thursday to review its approval of CVS Corp.'s 2007 purchase of pharmacy-benefit manager Caremark Rx Inc., saying there was evidence of "harmful and deceptive conduct." At the time......
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4:09 PM Thu, May 07, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. -- Paul Roberti, who has overseen public utility and regulatory matters in the Attorney General's office since 1997, has been named by Governor Carcieri to the three-member Public Utilities Commission. He replaces Robert Holbrook, whose term expired in......
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1:35 PM Thu, May 07, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
EAST GREENWICH, R.I. -- The prognosis for a Walgreens drug store at the corner of Main Street and First Avenue is looking grim. The Planning Board voted 7-to-0 Wednesday night to reject a developer's master plan for the project and......
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12:31 PM Thu, May 07, 2009 | Permalink |
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By Benjamin N. Gedan Email
The Providence Journal / Frieda Squires Bonnie, one of the goats at Simmons Farm in Middletown, sticks her head out to greet visitors. Providence Journal environmental writer Peter B. Lord reports Thursday that doctors and dollar store owners are......
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12:18 PM Thu, May 07, 2009 | Permalink |
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By Jack Perry Email
By Steve Peoples Journal State House Bureau PROVIDENCE, R.I. -- The bottom is in sight, but Rhode Island's economy still has a long way to go before it begins to recover, according to the testimony provided at the State House......
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11:41 AM Thu, May 07, 2009 | Permalink |
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By Jack Perry Email
By Tatiana Pina Journal staff writer SCITUATE, R.I. -- The Bank of America branch on 135 Danielson Pike will close July 24, according to a bank spokeswoman. The closing is part of a consolidation, said Anne Pace, the bank spokeswoman.......
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5:45 PM Wed, May 06, 2009 | Permalink |
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By Neil Downing Email
Starting tomorrow, more than 200,000 Rhode Islanders will begin receiving one-time payments of $250 apiece from the federal government to help stimulate the nation's economy. The payments will be distributed throughout the month to people who receive Social Security benefits......
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2:50 PM Wed, May 06, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
EAST GREENWICH, R.I. -- The Town Council is to vote Wednesday (tonight) on whether to endorse General Assembly legislation that would eliminate the requirement that school committees publish their meeting agendas in newspapers. School Committee Chairwoman Jean Ann Guliano has......
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2:12 PM Wed, May 06, 2009 | Permalink |
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By Jack Perry Email
TIVERTON, R.I. -- VeroScience LLC, a privately held biotechnology and healthcare development company in Tiverton, has received U.S. Food and Drug Administration approval of a drug it has developed for treating Type 2 diabetes,, the company announced Wednesday morning. Cycloset......
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1:53 PM Wed, May 06, 2009 | Permalink |
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By News staff Email
PROVIDENCE, R.I. -- Owners of the Twin River greyhound track and slot parlor decided on Wednesday to suspend live racing on Aug. 8 -- instead of May 31 -- to remove any doubt they have conducted the minimum number of......
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1:31 PM Wed, May 06, 2009 | Permalink |
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By Jack Perry Email
By Christine Dunn Journal staff writer Johnson & Wales University announced Wednesday that it has signed a three-year agreement with Capitol Cove LLC to lease 96 newly constructed condominiums on Canal Street in Providence for use as student housing. Robert......
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7:44 AM Wed, May 06, 2009 | Permalink |
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By Jack Perry Email
By Mark Pratt Associated Press Writer BOSTON (AP) -- The Boston Globe and its largest employees union reached a tentative agreement early Wednesday morning on concessions that will keep the 137-year-old newspaper publishing, the union president said. The breakthrough came......
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7:40 AM Wed, May 06, 2009 | Permalink |
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By Jack Perry Email
By Maria Armental Journal staff writer PROVIDENCE, R.I. -- The Senate Women's Caucus has launched its biennial clothing drive to benefit workers who have completed job training but need appropriate clothing. "They have completed lengthy training sessions and gone on......
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11:53 AM Tue, May 05, 2009 | Permalink |
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By Paul Grimaldi Email
Coffee shop chains are making their pitches for profits as they roll out their warm-weather offerings to thirsty Americans. Dunkin' Donuts is offering free "turbo" shots in iced coffee drinks purchased now through June 7. The "turbo" is a few......
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11:42 AM Tue, May 05, 2009 | Permalink |
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By Paul Grimaldi Email
Woonsocket-based CVS Caremark Corp. raised its 2009 profit forecast Tuesday as it expects greater revenue from its pharmacy benefits management business and the outlets it acquired from Longs Drug Stores Corp. in August. In a conference call Tuesday morning, CVS......
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11:27 AM Tue, May 05, 2009 | Permalink |
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By Benjamin N. Gedan Email
Texas A&M has confirmed its hiring of Jeffrey R. Seemann, dean of the College of Environment and Life Sciences at the University of Rhode Island and a key advocate of the state's biotechnology sector. The Providence Journal reported on Monday......
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10:20 AM Tue, May 05, 2009 | Permalink |
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By News staff Email
PROVIDENCE, R.I. -- The 20th-annual Business Expo, hosted by the Greater Providence Chamber of Commerce, opens at the Rhode Island Convention Center at 9:30 a.m. Tuesday, followed at 10:30 a.m. by the keynote address by Doris Kearns Goodwin. The historian......
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8:04 AM Tue, May 05, 2009 | Permalink |
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By Business staff Email
Woonsocket-based CVS Caremark Corp., the largest U.S. drug-store chain, reported first-quarter earnings that exceeded analysts' estimates by 1 cent. Net income fell to $738.4 million, or 50 cents a share, from $745 million, or 51 cents, the company said Tuesday.......
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3:48 PM Mon, May 04, 2009 | Permalink |
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By News staff Email
By Benjamin N. Gedan Journal Staff Writer Jeffrey R. Seemann, dean of the College of Environment and Life Sciences at the University of Rhode Island, has accepted a position at Texas A&M University. He plans to leave URI on July......
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2:02 PM Mon, May 04, 2009 | Permalink |
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By C. Eugene Emery Jr. Email
PROVIDENCE, R.I. -- Motorists have been getting a breather from the steady increase in gasoline prices, according to the Rhode Island Office of Energy Resources' weekly survey. On Monday it reported that the average price of regular unleaded self-serve gasoline......
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1:17 PM Mon, May 04, 2009 | Permalink |
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By Jack Perry Email
WARWICK -- About a dozen people in danger of losing their gas or electricity service carried shutoff notices to the state Public Utilities Commission Monday. "I have no way of paying anything," said Kevin Leclerc, a jobless tractor-trailer driver in......
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12:32 PM Mon, May 04, 2009 | Permalink |
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By Business staff Email
A.H. Belo Corp., owner of The Dallas Morning News and The Providence Journal, reported on Monday a first quarter net loss of $103.1 million, or $5.03 a share, compared with a net loss of $8.7 million or 43 cents a......
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12:01 PM Mon, May 04, 2009 | Permalink |
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By Benjamin N. Gedan Email
If the job security promised by a projected shortfall of 1,800 registered nurses by 2010 is not enough to persuade Rhode Islanders to go into the field, consider this: among occupations with employment of more than 2 million, the......
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11:42 AM Mon, May 04, 2009 | Permalink |
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By Benjamin N. Gedan Email
Despite the economic downturn, pay for state and local government workers across the country rose by 3 percent over the past year, compared to a 2-percent increase for private sector workers, the U.S. Bureau of Labor Statistics has reported. In......
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11:05 AM Mon, May 04, 2009 | Permalink |
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By Neil Downing Email
Larry Lucchino, president and CEO of the Boston Red Sox, will be the feature speaker at Bryant University's graduation-day ceremonies May 16. Lucchino will also receive an honorary doctor of humane letters degree from Bryant. The undergraduate commencement is to......
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10:57 AM Mon, May 04, 2009 | Permalink |
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By Jack Perry Email
Gasoline prices in Rhode Island have increased for three straight weeks, according to AAA Southern New England. The average price for a gallon of regular unleaded gasoline increased two cents last week to $2.10 per gallon, according to AAA's weekly......
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10:46 AM Mon, May 04, 2009 | Permalink |
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By Benjamin N. Gedan Email
Marc Crisafulli, a member of a panel that studied the state Economic Development Corporation, is calling for major changes to the "macro-economic environment in Rhode Island," including the "business climate, tax policy and education." The findings of the study panel,......
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9:31 AM Mon, May 04, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- The Boston Globe's largest workers union and the newspaper have finished all-night contract-concession talks without a deal, but will go back to the bargaining table. Cosmo Macero, a spokesman for the Newspaper Guild, says the union and......
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