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August 30, 2009 - September 5, 2009 Archives
2:50 PM Sat, Sep 05, 2009 | Permalink |
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By Neil Downing  Email
By NEIL DOWNING Journal Staff Writer Global business giant Textron Inc. of Providence is in the process of laying off 139 employees of its corporate offices worldwide, including 56 at the company's corporate headquarters in downtown Providence, a Textron spokesman......
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3:25 PM Fri, Sep 04, 2009 | Permalink |
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By Paul Grimaldi Email
A Georgia woman has filed a potential class-action lawsuit against Textron Inc. (TXT:NYSE) seeking to regain money she and other employees of the Providence conglomerate lost in their company savings plan, according to federal court documents. Holly G. Sheets, who......
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2:36 PM Fri, Sep 04, 2009 | Permalink |
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By News staff Email
By Alex Kuffner Journal staff writer PROVIDENCE, R.I. -- With national and local jobless rates climbing, economists expect the Rhode Island labor market to take more hits before experiencing a turnaround. On Friday, the U.S. Labor Department announced that the......
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11:56 AM Fri, Sep 04, 2009 | Permalink |
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By News staff Email
BOULDER, Colo. (AP) -- Nancy Talbot, co-founder of the upscale Talbots women's clothing company, has died from complications of Alzheimer's disease, The Talbots Inc. said. She was 89. Talbot died Sunday in Boulder, where she lived near one of her......
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11:00 AM Fri, Sep 04, 2009 | Permalink |
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By Business staff Email
Foxwoods Resort Casino and the adjacent MGM Grand in Connecticut this week began charging a one-percent "tribal tax" on top of the six percent state sales tax at shops in the facilities. The new tax was assessed by the Mashantucket......
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8:39 AM Fri, Sep 04, 2009 | Permalink |
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By Business staff Email
U.S. Secretary of Labor Hilda L. Solis and U.S. Senator Jack Reed, D-RI, on Tuesday are scheduled to tour the Exeter Job Corps Academy, a residential youth development program that provides disadvantaged youth with education and training. Solis and Reed......
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8:30 AM Fri, Sep 04, 2009 | Permalink |
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By Business staff Email
The U.S. jobless rate in August rose to 9.7 percent, the highest since 1983, and employers cut 216,000 jobs, the U.S. Labor Dept. reported Friday The 9.7 rate was up from 9.4 percent in July. Rhode Island and the rest......
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3:51 PM Thu, Sep 03, 2009 | Permalink |
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By Andy Smith Email
Collegium Pharmaceutical, Inc., a speciality drug company based in Rhode Island, has signed a lease for 7,645 square feet in Cumberland Commerce Center, part of Highland Corporate Park in Cumberland. The company already has a facility in another building within......
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2:36 PM Thu, Sep 03, 2009 | Permalink |
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By Paul Grimaldi Email
The retail unit of luggage maker Samsonite Corp. has filed for bankrutpcy protection, a victim of a recession that has curbed travel. The company filed in U.S. Bankruptcy Court, Wilmington, Del. Samsonite Company Stores LLC wants to close as many......
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12:49 PM Thu, Sep 03, 2009 | Permalink |
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By Paul Grimaldi Email
Stop & Shop has begun mailing new loyalty cards to its customers in Rhode Island and other states as the Massachusetts chain continues revamping the company's look. A new logo and a new color scheme began filtering into the grocery......
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12:18 PM Thu, Sep 03, 2009 | Permalink |
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By Paul Grimaldi Email
Men's Wearhouse Inc. kicked off its second annual national suit drive on Tuesday and is asking people to donate "gently used" suits. The drive, which will last until Sept. 30, is designed to help unemployed. The suits will be donated......
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11:46 AM Thu, Sep 03, 2009 | Permalink |
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By Paul Grimaldi Email
A labor coalition that has hectored Woonsocket-based CVS Caremark Corp. for months is now asking the Federal Trade Commission to re-examine the 2007 merger that created the health-services company. Change to Win, a federation of seven unions representing 6 million......
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11:20 AM Thu, Sep 03, 2009 | Permalink |
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By Paul Grimaldi Email
The Cranston man who bought the remains of the Providence Watch Hospital has begun reaching out to people whose timepieces were left in limbo by the retailer's closing. The Watch Hospital closed its two stores in June, when its parent......
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11:19 AM Thu, Sep 03, 2009 | Permalink |
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By Business staff Email
Providence-based NTK Holdings, Inc. and Nortek, Inc. said Thursday they have agreed to a debt restructuring with most of their bondholders. When concluded, the agreement will eliminate about $1.3 billion in debt, the companies said. Under terms of the agreement,......
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10:57 AM Thu, Sep 03, 2009 | Permalink |
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By Lisa Vernon-Sparks Email
PROVIDENCE, R.I. -- New data from the Department of Revenue shows that hotel tax revenue statewide in June was down roughly 15 percent with significant decreases in communities that account for 70 percent of the state's total draw. The amount......
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8:01 AM Thu, Sep 03, 2009 | Permalink |
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By Business staff Email
National Grid has begun the final restoration phase of its summer-long, natural gas main construction project along Willett Ave. in East Providence. The project will resurface more than 8,000 feet of roadway and will continue through the end of September.......
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7:59 AM Thu, Sep 03, 2009 | Permalink |
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By Business staff Email
Buses and trolleys run by the Rhode Island Public Transit Authority will observe a holiday-weekend schedule on Monday, Labor Day. RIPTA said that except for the Kingston-URI and Route 231-South Aquidneck routes, flex services will not be available. The statewide......
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3:10 PM Wed, Sep 02, 2009 | Permalink |
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By Neil Downing Email
Friday's planned shutdown of state government has prompted the Rhode Island Department of Labor and Training to tinker a bit with a schedule that affects people who are collecting unemployment insurance benefits. At issue is the process of certifying, by......
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9:17 AM Wed, Sep 02, 2009 | Permalink |
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By Business staff Email
Former Tyco International Ltd. Chief Executive Officer L. Dennis Kozlowski, a former Cumberland resident, asked a U.S. court to release him from prison, where he's serving as many as 25 years for stealing millions of dollars from the company. Kozlowski,......
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8:16 AM Wed, Sep 02, 2009 | Permalink |
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By Business staff Email
Southwest Airlines, the biggest passenger carrier at T.F. Green Airport, is restructuring its national schedule and is adding a nonstop flight from Boston's Logan International Airport to St. Louis, starting Jan. 10. Only two weeks ago, Southwest started offering its......
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1:06 PM Tue, Sep 01, 2009 | Permalink |
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By Business staff Email
By Paul Edward Parker Journal Staff Writer PROVIDENCE, R.I. - The bank bought back a prominent downtown building when it was sold at a foreclosure auction Tuesday morning. Nearly two dozen people gathered on a lawn next to the......
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11:48 AM Tue, Sep 01, 2009 | Permalink |
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By Business staff Email
The Mashantucket Western Pequot Tribal Council, owner of the Foxwoods Resort Casino, placed Chairman Michael Thomas on administrative leave pending an internal review after comments he reportedly made about debt restructuring. Thomas, who is seeking re-election as council chairman, told......
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11:33 AM Tue, Sep 01, 2009 | Permalink |
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By Business staff Email
Almost nine of ten chief financial officers in the Providence area plan no changes in hiring in the fourth quarter, according to a survey by Robert Half International, a staffing and consulting firm. The survey showed 87 percent of CFOs......
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8:38 AM Tue, Sep 01, 2009 | Permalink |
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By Business staff Email
The Marriott Fairfield Inn and Suites Hotel, the first hotel in downtown New Bedford in 40 years, is under construction on the former site of Finicky Cat Food and across the street from the Bourne Counting House. "This is a......
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8:28 AM Tue, Sep 01, 2009 | Permalink |
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By Business staff Email
The Rhode Island Department of Health is warning consumers about molasses cookies that may contain peanut butter and milk. The two items are considered undeclared allergens. People who have an allergy to peanuts and/or milk can have a serious or......
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6:15 PM Mon, Aug 31, 2009 | Permalink |
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By Paul Grimaldi Email
Consumer complaints about mortgages and credit cards were more noticeable across the nation in 2008, according to a report released Monday by the National Association of Attorneys General. The association polled state attorneys general, who are typically responsible for enforcing......
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4:52 PM Mon, Aug 31, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer NEWPORT -- Rhode Island and the nation are undergoing "an enormous economic shift" amid a global recession, Governor Carcieri said today. For example, about 125,000 people were employed in Rhode Island's manufacturing sector 30......
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4:20 PM Mon, Aug 31, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer NEWPORT -- Governor Carcieri said today that he would seek to revive a state tax credit to help small businesses cover the cost of a fee involving federally backed loans - but only if......
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3:36 PM Mon, Aug 31, 2009 | Permalink |
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By Paul Grimaldi Email
WOONSOCKET, RI -- Drugstore operator CVS Caremark Corp. (CVS:NYSE) said Monday it will give away 100,000 free seasonal flu shots to unemployed people. Beginning Tuesday, seasonal flu shots will be available daily without an appointment at more than 500 MinuteClinic......
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3:30 PM Mon, Aug 31, 2009 | Permalink |
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By Paul Grimaldi Email
PROVIDENCE, RI -- Providence Place mall generated $11.4 million in gross revenue during the first three months of 2009, keeping the downtown shopping center on pace with its income in 2008, according to federal court documents. The revenue figures are......
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2:15 PM Mon, Aug 31, 2009 | Permalink |
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By Business staff Email
Freedom Communications, the former owner of WLNE/ABC 6, is expected to file for Chapter 11 bankruptcy protection this week, the Wall Street Journal reported. A Chapter 11 filing of the privately-held media company would have ripples in Rhode Island. Private......
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12:04 PM Mon, Aug 31, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer NEWPORT -- Banks and credit unions in Rhode Island are faring well financially despite the state's challenging economy, Rhode Island's top banking regulator said today. "I'd say, right now, I'm very pleased with the......
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10:55 AM Mon, Aug 31, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer NEWPORT -- Delinquent loans are "extremely high right now" and continuing to rise among the nation's banks as a whole, a federal regulator said today. But "in the Northeast, we have not seen the......
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9:29 AM Mon, Aug 31, 2009 | Permalink |
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By Business staff Email
Gasoline prices in Rhode Island inched up two cents to average $2.719 a gallon, according to a survey released Monday by the Rhode Island Office of Energy Resources. The prices ranged from $2.759 to $2.659 a gallon for self-service, unleaded......
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9:03 AM Mon, Aug 31, 2009 | Permalink |
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By Business staff Email
Woonsocket-based CVS Caremark Corp. said Monday it will offer 100,000 free seasonal flu shots to the jobless at a cost of $3 million. The program will include on-site flu clinics at One-Stop Career Center locations and distribution of vouchers for......
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