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March 16, 2008 - March 22, 2008 Archives
3:53 PM Fri, Mar 21, 2008 | Permalink |
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By John Kostrzewa  Email
The company that owns the Twin River gambling facility in Lincoln got another week from its lenders to work out its financial problems, but that wasn't enough to prevent its credit rating from being downgraded. UTGR Inc., which owns Twin......
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11:47 AM Fri, Mar 21, 2008 | Permalink |
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By Andrea Panciera Email
After closing on an up-note yesterday, U.S. stock markets are closed in observance of Good Friday. Take the opportunity to assess where you are financially, and where you might want to be, in the topsy-turvey world of the financial market.......
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7:24 AM Fri, Mar 21, 2008 | Permalink |
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By John Kostrzewa Email
Navy officials have said they plan to sell off up to 350 acres of waterfront land on Aquidneck Island. The land was formerly used by Naval Base Newport, and military officials say they hope to get fair market prices for......
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7:09 AM Fri, Mar 21, 2008 | Permalink |
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By John Kostrzewa Email
Rhode Island's unemployment rate rose 0.1 percent to 5.8 percent in February to reach the highest monthly jobless rate since November 1995, according to a report released this morning by the Rhode Island Dept. of Labor and Training.. The number......
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3:21 PM Thu, Mar 20, 2008 | Permalink |
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By John Kostrzewa Email
Two former CVS executives accused of paying off a state senator have been arraigned for a second time after federal prosecutors issued a slightly revised indictment against them. John Kramer and Carlos Ortiz, both former vice presidents at the pharmacy......
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1:43 PM Thu, Mar 20, 2008 | Permalink |
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By Tim Barmann Email
CNBC is coming to Pawtucket. The cable business news network plans to film three segments for its show, “The Big Idea with Donny Deutsch,” on Monday at Doherty’s East Avenue Irish Pub in Pawtucket. The show looks at new products......
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9:54 AM Thu, Mar 20, 2008 | Permalink |
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By John Kostrzewa Email
The Rhode Island State Senate unanimously approved two new appointments to the Public Finance Management Board. They are: Robert A. Mancini, executive director of the Rhode Island Society of CPAs, and Emanuel (Manny) Barrows, Senior Vice President of Business Lending......
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8:22 AM Thu, Mar 20, 2008 | Permalink |
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By John Kostrzewa Email
Bank of America Corp.’s chaiman and CEO, Ken Lewis, received compensation valued at about $20.4 million in 2007, about 10.7 percent less than a year earlier, as mortgage-related losses eroded profits at the nation’s second-largest bank. The chairman and CEO’s......
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5:41 PM Wed, Mar 19, 2008 | Permalink |
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By Neil Downing Email
If you didn't file a federal income-tax return for 2004, you may be owed some money – but you must move quickly to claim it. The Internal Revenue Service says it is holding $1.2 billion in unclaimed refunds for about......
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2:35 PM Wed, Mar 19, 2008 | Permalink |
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By Tim Barmann Email
A state legislative committee is again considering a bill that would create the Rhode Island Power Authority, a new state agency which would promote renewable energy development in Rhode Island. The House Environment and Natural Resources committee plans to hear......
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12:28 PM Wed, Mar 19, 2008 | Permalink |
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By John Kostrzewa Email
National Grid Plc, owner of electricity networks in Britain and the U.S., may join Emera Inc. and Spectra Energy Corp. in building a $2 billion high-voltage power line to help link generators in Canada with markets in southern New England.......
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12:10 PM Wed, Mar 19, 2008 | Permalink |
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By Paul Grimaldi Email
Subcontractors helping renovate the Twin River slot parlor in Lincoln have moved in the last week to collect about $1 million in unpaid bills from the facility's owner as that company reworks its finances. UTGR Inc., the company which owns......
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10:38 AM Wed, Mar 19, 2008 | Permalink |
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By Paul Parker Email
A Cape Cod couple who owns a livery service based in Harwich, Mass., plans to offer scheduled bus service between the Cape and Rhode Island, with stops at the Providence Amtrak station and at T.F. Green Airport in Warwick, beginning......
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8:34 AM Wed, Mar 19, 2008 | Permalink |
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By John Kostrzewa Email
MetLife Inc., the New York-company that has its MetLife Auto & Home business in Warwick, paid its CEO Robert Henrikson $25 million in salary bonus, stock options, grants and other compensation last year, a 32 percent raise from 2006. Henrikson's......
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3:47 PM Tue, Mar 18, 2008 | Permalink |
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By John Kostrzewa Email
The Johnston Town Council voted 4-1 last night to rezone a hillside Atwood Avenue parcel to accommodate a Wal-Mart Superstore, Sam’s Club and other businesses. The developer promised that the arrival of the two box stores and other businesses, perhaps......
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1:30 PM Tue, Mar 18, 2008 | Permalink |
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By Paul Grimaldi Email
CVS Caremark Corp. said this morning it will pay $37.5 million to settle claims it overcharged states and the federal government for drugs provided to Medicaid patients. CVS pharmacies received prescriptions for tablets and substituted more expensive capsules to increase......
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1:26 PM Tue, Mar 18, 2008 | Permalink |
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By John Kostrzewa Email
Lawrence K. Fish, chairman of Providence-based Citizens Financial Group and RBS America, was paid $2.5 million in salary, bonus and benefits in 2007, according to a report by the companies’ parent, the Royal Bank of Scotland. Citizens previously reported......
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9:24 AM Tue, Mar 18, 2008 | Permalink |
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By Paul Grimaldi Email
The dissident investors seeking to force a sale of Bank Rhode Island are formally pitching other shareholders on the idea, according to documents filed last week with the U.S. Securities and Exchange Commission. PL Capital LLC, an Illinois hedge-fund investment......
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9:02 AM Tue, Mar 18, 2008 | Permalink |
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By John Kostrzewa Email
Farmers, orchard operators and tourism officials are gathering this morning to find ways to promote agritourism - a way to attract tourists and their money to Rhode Island's farms to create jobs and revenue. "Saving farmland is not enough to......
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5:21 PM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
The collapse this weekend of Wall Street investment bank Bear Stearns will send ripples across the Rhode Island economy, according to two New England business experts interviewed today. “The easiest way to envision it, it’s kind of like a spider......
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3:47 PM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
Lawyers for the state are asking Rhode Island's Supreme Court to uphold a two-year-old jury verdict against three former lead paint manufacturers. The state is expected to file court papers later today in response to the companies' appeal of the......
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3:00 PM Mon, Mar 17, 2008 | Permalink |
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By Neil Downing Email
The Internal Revenue Service has set the schedule under which federal rebates will be distributed. The schedule shows that direct deposits will go out first, paper checks later. The distributions will be based on the last two digits of your......
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11:55 AM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
Automobile importer North Atlantic Distribution today is scheduled to begin exporting truck cabins from the pier at the Quonset Business Park, a major shift for the company that could boost employment . Until now, NORAD has concentrated on importing cars,......
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11:52 AM Mon, Mar 17, 2008 | Permalink |
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By John Kostrzewa Email
The average price of gasoline in Rhode Island rose for the fifth consecutive week, and now matches the all-time high set in the wake of hurricane damage along the Gulf of Mexico coast in September 2005. A survey of local......
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