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September 2009 Archives
10:49 AM Wed, Sep 30, 2009 | Permalink |
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By Neil Downing  Email
The state fund that distributes unemployment benefits will have to borrow from Uncle Sam once again to help cover payments to the unemployed. The state Department of Labor and Training, which oversees the fund, said on Wednesday that it plans......
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9:44 AM Wed, Sep 30, 2009 | Permalink |
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By Susan Decker and Cary O'Reilly Sept. 30 (Bloomberg) -- Microsoft Corp., the world's biggest maker of computer software, won a ruling that throws out a $388 million jury verdict over a patent on software used to deter piracy. U.S.......
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1:32 PM Tue, Sep 29, 2009 | Permalink |
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The housing market in Massachusetts is showing signs of recovery, but is still struggling in the lingering recession. There were 4,055 sales of single-family homes in Massachusetts in August, up 0.4 percent from August 2008, according to report released Tuesday......
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10:43 AM Tue, Sep 29, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- The number of home sales in Massachusetts rose slightly in August compared to the same month a year ago, as prices continued to fall. The Warren Group, a Boston-based publisher of real estate data, reported Tuesday that......
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9:51 AM Tue, Sep 29, 2009 | Permalink |
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LINCOLN, R.I. -- The Twin River slot parlor and a greyhound owners association have reached a "preliminary agreement" in their dispute over dog racing at the Lincoln gambling venue, according to a federal court filing made late Monday. UTGR Inc.,......
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3:57 PM Mon, Sep 28, 2009 | Permalink |
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By Neil Downing Email
Rhode Island will receive $2.6 million to upgrade technology involving the state's unemployment insurance programs, the U.S. Department of Labor said on Monday. The upgrades will improve the operation and security of unemployment insurance systems, Labor Secretary Hilda L. Solis......
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12:14 PM Mon, Sep 28, 2009 | Permalink |
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By Neil Downing Email
AT&T plans to hold two job fairs on Wednesday - one in Dedham, Mass., the other in Waltham, Mass. - to help fill more than 100 open positions in Rhode Island, Massachusetts and southern New Hampshire. The openings, in AT&T's......
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12:00 PM Mon, Sep 28, 2009 | Permalink |
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By Alex Kuffner Journal staff writer Governor Carcieri has been named vice chairman of the Governors' Wind Energy Coalition, a bipartisan group dedicated to promoting wind power. Iowa Governor Chet Culver, chairman of the coalition of 28 state governors, announced......
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11:46 AM Mon, Sep 28, 2009 | Permalink |
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By Paul Grimaldi Journal staff writer Lawyers representing the Twin River slot parlor in its federal bankruptcy case have an agreement with a labor lawyer that could open the way for 56 security guards to receive overtime pay. The lawyers......
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10:18 AM Mon, Sep 28, 2009 | Permalink |
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By Neil Downing Email
Rhode Island fuel prices were down across the board on Monday compared with the same point a week ago, according to the Rhode Island Office of Energy Resources. The average price of regular, self-serve gasoline dropped 6 cents, to about......
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8:11 AM Mon, Sep 28, 2009 | Permalink |
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CVS Caremark Corp. and Medco Health Systems may generate less profit from a shared $10 billion contract for federal-employee drug benefits after a study found the plan costs more than other government prescription programs. A House of Representatives subcommittee will......
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2:17 PM Fri, Sep 25, 2009 | Permalink |
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By Jack Perry Email
By Andy Smith Journal staff writer Rhode Island farmers may now apply for benefits under two disaster assistance programs authorized in a 2008 federal farm bill. Paul Brule, state executive director of the U.S. Department of Agriculture's Farm Service Agency......
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8:31 AM Fri, Sep 25, 2009 | Permalink |
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By Business staff Email
About 30 Rhode Islanders will get career advice from human resource experts at an event on Friday called YouthWorks411 Résumé Café. The students, aged 16 to 24, will participate in mock interviews and resume critiques, and meet with representatives from......
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2:55 PM Thu, Sep 24, 2009 | Permalink |
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A Senate task force has been created by Senate Pres. Teresa Paiva Weed, (D-Newport) to improve state government's interaction with small businesses. The first meeting will be held Tuesday at 2 p.m. in Room 313 at the State House. The......
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12:33 PM Thu, Sep 24, 2009 | Permalink |
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Providence-based Textron, maker of Cessna planes and Bell helicopters, may expand beyond aerospace and defense once its loss-making finance unit has wound down and debt levels are reduced, Chief Executive Officer-elect Scott Donnelly told Bloomberg News. "The primary focus we......
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12:18 PM Thu, Sep 24, 2009 | Permalink |
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By Business staff Email
AmazingCharts Inc., a developer of electronic medical record systems, was named the fastest growing private company in Rhode Island by Inc. Magazine's list of the "5000 Fastest Growing Private Companies in America." With three-year sales growth of 277%, AmazingCharts.com ranked......
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5:43 PM Wed, Sep 23, 2009 | Permalink |
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By Peter Phipps Email
WARWICK, R.I. -- State Health Director David R. Gifford has been urging businesses for the past month to prepare early for the swine flu by revising sick leave policies and developing plans to cover operations should many employees call in......
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8:21 AM Wed, Sep 23, 2009 | Permalink |
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By Business staff Email
Jobless workers nationwide, including several thousand in Rhode Island, would benefit from a bill approved Tuesday by the U.S. House of Representatives that would extend unemployment benefits for 13 weeks. The House voted 331 to 83 for the bill that......
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8:17 AM Wed, Sep 23, 2009 | Permalink |
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By Business Staff Pawtucket-based Hasbro said Wednesday it has opened an office in Moscow and called Russia one of its "key markets'' as demand for toys and games grows there. Russia generated about 2 percent of Hasbro's sales in Europe......
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5:30 PM Tue, Sep 22, 2009 | Permalink |
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By Alex Kuffner Journal Staff Writer In a continuing push to develop the Quonset Business Park, the state has applied for $45 million in federal stimulus money to improve roads, railways, piers and terminals. The Quonset Development Corporation is planning......
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3:42 PM Tue, Sep 22, 2009 | Permalink |
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BY Alex Kuffner PROVIDENCE, R.I. -- A legislative commission studying Rhode Island's ports will consider drafting a strategic plan to guide future economic development at Quonset Point, the Port of Providence and other coastal locations. In an interim report issued......
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3:36 PM Tue, Sep 22, 2009 | Permalink |
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U.S. Sen. Jack Reed, D-RI, on Tuesday introduced legislation to set up a new regulatory framework to tighten controls on derivatives, the exotic financial contracts that analysts said contributed to the huge losses last year on Wall Street. Derivatives are......
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2:36 PM Tue, Sep 22, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer From a tax standpoint, Rhode Island's business climate remains among the 10 worst in the country - though it improved a bit compared with last year, according to a Washington, D.C., group that monitors......
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12:41 PM Tue, Sep 22, 2009 | Permalink |
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By Jack Perry Email
By Alex Kuffner Journal staff writer PROVIDENCE, R.I. -- The state Economic Development Corporation has awarded four private companies grants to fund renewable energy projects. The EDC's board of directors voted Monday in favor of the grants from the state......
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8:27 AM Tue, Sep 22, 2009 | Permalink |
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By Business staff Email
The loss of 3,100 construction jobs in Rhode Island in the last year is part of a national trend in which 48 states reported declines in construction jobs for the 12-month period that ended in August, according to a report......
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8:14 AM Tue, Sep 22, 2009 | Permalink |
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Pawtucket-based Hasbro, Inc.has signed a licensing deal with Lightning Gaming to allow the Philadelphia-based software developer to create gaming machines based on the Scrabble game for casinos and entertainment venues. Terms were not disclosed......
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5:52 PM Mon, Sep 21, 2009 | Permalink |
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More than 3 percent of Rhode Island's population -- some 33,000 men, women and children -- fell into poverty in 2008 as the recession tightened its grip on the Ocean State, according to recent figures from the U.S. Census Bureau.......
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3:31 PM Mon, Sep 21, 2009 | Permalink |
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PROVIDENCE, RI: _ The Obama Administration announced that the Rhode Island Public Transit Authority was awarded a $345,000 grant to install efficient compact fluorescent light fixtures at four facilities. RIPTA's proposal was among 43 winning projects selected for $100 million......
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3:15 PM Mon, Sep 21, 2009 | Permalink |
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By Alan Rosenberg Email
PROVIDENCE, RI: _ The Obama Administration announced that the Rhode Island Public Transit Authority was awarded a $345,000 grant to install efficient compact fluorescent light fixtures at four facilities. RIPTA's proposal was among 43 winning projects selected for $100 million......
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12:11 PM Mon, Sep 21, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Alex Kuffner Journal staff writer PROVIDENCE -- City officials gathered beside a community garden in Providence Monday morning to celebrate a new green-jobs training program. The eight-week program created by Groundwork Providence and the Providence Housing Authority will train......
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10:35 AM Mon, Sep 21, 2009 | Permalink |
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By Neil Downing Email
The price of gasoline has dropped a bit, but the price of home heating oil has jumped, according to the results of a survey Monday by the Rhode Island Office of Energy Resources. The average price of regular, self-serve gas......
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8:23 AM Mon, Sep 21, 2009 | Permalink |
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By Business staff Email
Providence-based NTK Holdings Inc. and Nortek Inc. said Monday the companies have begun a solicitation of votes from their creditors for a prepackaged reorganization plan that will eliminate about $1.3 billion in debt. Under terms of a previously-announced agreement, Nortek's......
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1:28 PM Fri, Sep 18, 2009 | Permalink |
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By Jack Perry Email
By Alex Kuffner Journal Staff Writer First the good news: Rhode Island no longer has the second-highest jobless rate in the nation. Now the bad: It only dropped one place to third. Nevada leapfrogged Rhode Island with an unemployment rate......
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1:21 PM Fri, Sep 18, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer More than 4,100 Rhode Islanders have taken advantage of a recently expanded federal income-tax break for buying a home, the Internal Revenue Service said on Friday. But potential homebuyers who plan to claim the......
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12:20 PM Fri, Sep 18, 2009 | Permalink |
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By Business staff Email
Passenger traffic at T.F. Green Airport was down 6.5 percent in August compared with the same period in 2008, dropping from 439,137 to 410,788 passengers. The total number of passengers who used the airport through the first eight months of......
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9:17 AM Fri, Sep 18, 2009 | Permalink |
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Rhode Island manufacturing workers in August earned on average $13.95 an hour, down 53 cents from July and up four cents from August 2008, according to data released Friday by the Rhode Island Department of Labor and Training. Employees in......
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7:30 AM Fri, Sep 18, 2009 | Permalink |
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By Jack Perry Email
By Alex Kuffner Journal Staff Writer PROVIDENCE -- Although economists say the worst of the recession may be over, the number of jobless workers in Rhode Island continues to grow. The state's unemployment rate ticked up to 12.8 percent in......
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8:52 AM Thu, Sep 17, 2009 | Permalink |
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Harrah's Entertainment, the Las Vegas company that pushed for a West Warwick casino in 2006 and has expressed an interest in operating or owning Twin River, plans to buy the Thistledown horse-racetrack in Cleveland out of bankruptcy court for $89.5......
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4:06 PM Wed, Sep 16, 2009 | Permalink |
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By Barbara Polichetti Email
WARWICK RI _Knowing that the state was looking at stringent new nutrition regulations for schools with an eye toward cutting fats, sugars and other bad things, Warwick Ice Cream Company owner Gerry Bucci recruited food chemists more than a year......
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1:37 PM Wed, Sep 16, 2009 | Permalink |
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By Peter Phipps Email
By Christine Dunn Journal Staff Writer PROVIDENCE _ The city's residential real estate market, though far from robust, is faring better than its commercial property market, according to speakers at a forum organized by the Providence Preservation Society. In 2009,......
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7:55 AM Wed, Sep 16, 2009 | Permalink |
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By Business staff Email
Eight federal lawmakers signed a letter requesting the U.S. Federal Trade Commission reexamine Woonsocket-based CVS Corp.'s acquisition of Caremark Rx Inc. in 2007. "We strongly believe that CVS Caremark is engaging in unfair and deceptive business practices that are causing......
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7:45 AM Wed, Sep 16, 2009 | Permalink |
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By Jack Perry Email
Richard Parsons By Business staff Citigroup Inc. Chairman Richard Parsons plans to join leveraged buyout firm Providence Equity Partners Inc. as a senior adviser, according to Bloomberg News. Providence-based Providence Equity, a 20-year-old firm that oversees more than $22......
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4:48 PM Tue, Sep 15, 2009 | Permalink |
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By Paul Edward Parker Journal Staff Writer An early glimpse at how much money the state is taking in for the budget year that started in July doesn't offer good news. Two reports issued Tuesday afternoon by the state Revenue......
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3:56 PM Tue, Sep 15, 2009 | Permalink |
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BY BARBARA POLICHETTI WARWICK, RI _ The lights will go on again soon in the stalwart 1800's brick building that served as the offices for the old Rhode Island Malleable Iron Works at the corner of Jefferson Boulevard and Kilvert......
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2:36 PM Tue, Sep 15, 2009 | Permalink |
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By Jack Perry Email
By Bruce Landis Journal staff writer PROVIDENCE, R.I. -- The Greater Providence Chamber of Commerce said that its members can now band together to buy electricity at lower-than-normal prices. Called the Providence Power Program, the arrangement allows small and medium......
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12:04 PM Tue, Sep 15, 2009 | Permalink |
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By Business staff Email
New England's compensation costs of $33.29 an hour in June were the highest among nine geographic divisions in the U.S., according to new data from the U.S. Bureau of Labor Statistics. The East South Central division of the country reported......
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8:38 AM Tue, Sep 15, 2009 | Permalink |
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FM Global, the business property insurer, has completed its new headquarters in Johnston and plans a dedication ceremony on Thursday. The four-story, 366,000 square foot building is located on property adjacent to the company's current headquarters. About 800 employees will......
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2:40 PM Mon, Sep 14, 2009 | Permalink |
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A numerical index that measures the Rhode Island economy slipped in July from the prior month, but is still up from a year ago. The Current Conditions Index, created by University of Rhode Island professor Leonard Lardaro was 25 in......
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12:25 PM Mon, Sep 14, 2009 | Permalink |
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By Jack Perry Email
PROVIDENCE, R.I. -- Gasoline prices in Rhode Island have fallen for the second straight week, according to AAA Southern New England. The average price for a gallon of regular unleaded gasoline at the self-service pump has dropped 1 cent to......
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8:15 AM Mon, Sep 14, 2009 | Permalink |
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Southwest Airlines, the biggest passenger carrier at T.F. Green Airport with more than half of all the passengers, is expanding again at Boston's Logan International Airport. Southwest will start operating two daily nonstop flights to Denver on Jan. 10. Last......
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3:32 PM Fri, Sep 11, 2009 | Permalink |
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Andrew Nosal, owner of The Map Center at 671 North Main St. in Providence, said he plans to reopen as soon as possible after a fire Thursday in the multi-use building that houses his business. Nosal said it's too early......
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3:16 PM Fri, Sep 11, 2009 | Permalink |
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A Michigan food producer is recalling its peanut products, sold in Rhode Island among other states, because of possible salmonella contamination, according to the Associated Press. Salmonella is an organism that can cause serious and sometimes fatal infections, especially in......
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8:35 AM Fri, Sep 11, 2009 | Permalink |
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Atlantic deep-sea red crab fishermen have received certification from an international conservation organization for having a sustainable fishery. The London-based Marine Stewardship Council says it's the first East Coast fishery to attain the certification. The red crab fishery consists of......
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5:11 PM Thu, Sep 10, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer State Rep. Steven M. Costantino (D-Providence), chairman of the powerful House Finance Committee, said today that he would not rule out changes to the state's tax system -- including possible tax increases -- when......
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3:01 PM Thu, Sep 10, 2009 | Permalink |
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By Andy Smith Email
The Massachusetts Bay Transportation Authority board Thursday approved long-waited plans to extend commuter rail service from Boston to T.F. Green Airport in Warwick, and ultimately to Wickford Junction in North Kingstown. The service would begin in 2011, and tentative plans......
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12:40 PM Thu, Sep 10, 2009 | Permalink |
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By Neil Downing Email
By NEIL DOWNING Journal Staff Writer State Rep. Steven M. Costantino (D-Providence), chairman of the powerful House Finance Committee, said today that he would not rule out changes to the state's tax system -- including possible tax increases -- when......
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10:05 AM Thu, Sep 10, 2009 | Permalink |
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By Jack Perry Email
BOSTON (AP) -- The MBTA board of directors is scheduled to vote on a contract that would extend commuter rail service in Rhode Island to T.F. Green Airport in Warwick and South Kingstown. If approved at Thursday's Massachusetts Bay Transportation......
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9:29 AM Thu, Sep 10, 2009 | Permalink |
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By Business staff Email
Providence-based Textron, struggling through a restructuring amid the recession, said its Cessna unit will see a "modest rebound in demand next year" after the most difficult period in the history of business jets. Chief Executive Officer Lewis Campbell said the......
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9:05 AM Thu, Sep 10, 2009 | Permalink |
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Investments from Brown University's endowment fell 23 percent in the fiscal year that ended June 30, according to Bloomberg News. Overall, the total value of the endowment fell 27 percent to $2.04 billion, President Ruth Simmons said on Wednesday. The......
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3:09 PM Wed, Sep 09, 2009 | Permalink |
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By Alex Kuffner Journal Staff Writer PROVIDENCE, R.I. -- The committee searching for a new executive director of the Rhode Island Economic Development Corporation has selected two finalists from out of state and could recommend a single candidate to Governor......
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12:58 PM Wed, Sep 09, 2009 | Permalink |
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WESTERLY, R.I. -- Finn M.W. Caspersen, a Shelter Harbor summer resident and past chairman and chief executive officer of Beneficial Corp., an international financial-services company, died of a self-inflicted gunshot wound on Monday afternoon, police said Wednesday. Police went......
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8:18 AM Wed, Sep 09, 2009 | Permalink |
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Woonsocket-based CVS Caremark Corp. will repay $2.8 million to consumers who bought a dietary supplement that was falsely marketed as a product that could prevent illness, the Federal Trade Commission said. CVS touted its AirShield tablets and powders as a......
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8:10 AM Wed, Sep 09, 2009 | Permalink |
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Amtrak commuters in Rhode Island and 12 other states and the District of Columbia may undergo random baggage inspections Wednesday as the passenger railroad and federal agencies conduct a security exercise. The Transportation Security Administration, Amtrak police and law enforcement......
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4:39 PM Tue, Sep 08, 2009 | Permalink |
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By Andy Smith Email
American Traffic Solutions, Inc., an Arizona-based company, submitted the winning bid Tuesday for Nestor Traffic Systems, the Rhode Island traffic technology company that went into receivership in June. Jonathan N. Savage, a partner with Shechtman Halperin Savage LLP who had......
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4:01 PM Tue, Sep 08, 2009 | Permalink |
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By Pamela Reinsel Cotter Email
By Lisa Vernon-Sparks Journal staff writer Providence Journal photo / Mary Murphy Sen. Jack Reed, U.S. Labor Secretary Hilda Solis and U.S. Rep. Patrick Kennedy watch the president's speech as it was shown on a big screen in the auditorium......
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10:26 AM Tue, Sep 08, 2009 | Permalink |
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By Neil Downing Email
Pump prices in Massachusetts fell for the first time in seven weeks, according to the motor club AAA Southern New England. The price of a gallon of regular self-serve gas is $2.619 today, down three cents from last week, AAA......
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10:26 AM Tue, Sep 08, 2009 | Permalink |
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By Jack Perry Email
PROVIDENCE, R.I. -- Gas prices in Rhode Island dropped 2 cents last week, the first time gas prices have fallen in six weeks, according to AAA Southern New England. The average price for a gallon of regular unleaded gasoline is......
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9:29 AM Tue, Sep 08, 2009 | Permalink |
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Journal photo/ John Freidah Toll collector Carisa Daniels explains to a driver where and how they can obtain an E-ZPass. By Alex Kuffner Journal Staff Writer JAMESTOWN - Only a handful of motorists crossing the Pell Bridge on Tuesday......
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9:04 AM Tue, Sep 08, 2009 | Permalink |
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The Slater Technology Fund said on Tuesday it has awarded $250,000 to Providence-based biotech startup Sentient Bioscience, founded by Brown University professors Tim Murphy and Edith Mathiowitz of Brown Medical School and the Department of Molecular Pharmacology and Biotechnology, respectively.......
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8:09 AM Tue, Sep 08, 2009 | Permalink |
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Trading on Wall Street resumes at 9:30 a.m. after the three day holiday weekend with the three major indexes all in positive territory in 2009. The Dow Jones Industrial Average is up 7.6 percent. The Nasdaq Composite Index gained 28......
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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 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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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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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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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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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 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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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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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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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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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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Rhode Island Department of Labor and Training
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