Projo Biz Blog

June 29, 2008 - July 5, 2008 Archives


National Grid wants even bigger rate hike -- 21.7 percent

6:14 PM Thu, Jul 03, 2008 | | Comments (1)
By Andrea Panciera    Email

Even before state regulators have considered a proposed 15.6 percent hike in electricity rates, National Grid now says it wants to increase rates even more. National Grid told the state Public Utilities Commission today that the increasing price of crude......

social bookmarking


Newport Bancorp completes stock repurchase

3:11 PM Thu, Jul 03, 2008 | | Write a comment
By John Kostrzewa    Email

Newport Bancorp, Inc. (NFSB:Nasdaq) the holding company for Newport Federal Savings Bank, said today that that it has completed its second stock repurchase program. The company acquired 231,721 shares, or 5%, of the Company's outstanding common stock at an average......

social bookmarking


Shaw's, union begin contract talks

5:11 PM Wed, Jul 02, 2008 | | Write a comment
By Paul Grimaldi    Email

Contract talks are underway between Shaw's Supermarkets and the union representing workers at its stores in Rhode Island and Massachusetts, according to a union officlal. Representatives of Local 791 of the United Food and Commercial Workers met today with company......

social bookmarking


Fitch affirms Providence's bond rating

3:20 PM Wed, Jul 02, 2008 | | Write a comment
By John Kostrzewa    Email

Fitch Ratings today affirmed the "A" bond rating for Providence's approximately $105 million in outstanding general obligation bonds. Fitch reviewed the city's finances and concluded that Providence continues to exercise strong fiscal management in the face of external pressures, including......

social bookmarking


Applications for RI corporate tax credits available

6:47 AM Wed, Jul 02, 2008 | | Write a comment
By John Kostrzewa    Email

The Rhode Island Division of Taxation is accepting business donation applications for the Rhode Island Corporate Scholarship Tax Credit Program for state fiscal years 2009 and 2010. C-Corporations, S-Corporations, LLCs and LLPs can get a 75% tax credit for a......

social bookmarking


Bank of America completes purchase of Countrywide

5:15 PM Tue, Jul 01, 2008 | | Write a comment
By John Kostrzewa    Email

Bank of America Corp. today completed its purchase of Countrywide Financial Corp., the home lender battered by the collapse of the subprime mortgage market, giving the bank control of one out of every four U.S. home loans. The second-biggest U.S.......

social bookmarking


Hasbro adds new director to board

4:30 PM Tue, Jul 01, 2008 | | Write a comment
By Andrea Panciera    Email

Hasbro Inc. said today it has added a former finance executive for an international trucking and supply-chain management company to its board of directors. Tracy Leinbach, formerly chief financial officer for Ryder System Inc., was elected to the board of......

social bookmarking


R.I. House prices fell again in May

9:46 AM Tue, Jul 01, 2008 | | Write a comment
By Lynn Arditi    Email

Rhode Island's median house price in May fell 8.2 percent from a year earlier, according to a report out today by the Boston research firm, The Warren Group. The median price of a single-family house in May was $245,000, down......

social bookmarking


Ratings agency plans to change system to evaluate bonds

8:49 AM Tue, Jul 01, 2008 | | Write a comment
By John Kostrzewa    Email

Moody’s, one of the three major credit rating agencies, has announced plans to adopt a common rating system to evaluate public and corporate bonds. Moody’s plans follow a campaign by state and federal officials across the country to end the......

social bookmarking


Technology company wins Slater funding

8:37 AM Tue, Jul 01, 2008 | | Write a comment
By John Kostrzewa    Email

Creative Circle Advertising Solutions, a developer of software for media companies, has been awarded $250,000 from the Slater Technology Fund, bringing the total amount the state backed venture capital fund has invested in the company to $750,000. Entrepreneur Bill Daugherty......

social bookmarking


State Awards Workforce Grants

4:29 PM Mon, Jun 30, 2008 | | Write a comment
By Andy Smith    Email

The Governor's Workforce Board and the Rhode Island Economic Development Corporation have awarded workforce expansion grants totaling $387,348 for new employee training to five Rhode Island companies. Companies receiving the grants are: Albion Special Care, LLC of Lincoln for $45,990;......

social bookmarking


Pawtucket bridge to re-open to 2-way traffic July 2

4:26 PM Mon, Jun 30, 2008 | | Write a comment
By Mike McKinney    Email

PAWTUCKET -- The Division Street Bridge is being reopened to two-way traffic, seven months after it became one-way, and an elaborate set of detours was put in place, when a weight limit was imposed on part of Route 95. The......

social bookmarking


Henderson Bridge work begins; bikes, walkers rerouted

4:20 PM Mon, Jun 30, 2008 | | Write a comment
By Mike McKinney    Email

Repair work is under way on the Henderson Bridge and that means those who wish to cross the bridge on bicycle or on foot must use a sidewalk on the westbound side of the bridge. The first phase of construction......

social bookmarking


Ex-schools chief Evans no longer finalist in Cincinnati

4:10 PM Mon, Jun 30, 2008 | | Comments (1)
By Mike McKinney    Email

PROVIDENCE -- City schools Supt. Donnie Evans is no longer a finalist for the Cincinnati school district now that the Cincinnati School Board has decided to keep looking. Evans said he was disappointed but not surprised that the school board......

social bookmarking


RIC celebrating new dorm's 'green' certification at 5

3:55 PM Mon, Jun 30, 2008 | | Comments (2)
By Mike McKinney    Email

State education officials today are expected to celebrate a special “green” certification for a new 367-bed residence hall at Rhode Island College. The Rhode Island Board of Governors for Higher Education will take part in the celebration at 5 p.m.......

social bookmarking


Update: Man accused of rape waives bail hearing

3:45 PM Mon, Jun 30, 2008 | | Comments (1)
By Mike McKinney    Email

PROVIDENCE -- Marco Riz, who is accused of carjacking, kidnapping and raping a woman, today waived his right to a bail hearing and agreed to be held at the Adult Correctional Institutions while a grand jury reviews the case. If......

social bookmarking


Fall River homicide victim identified

2:57 PM Mon, Jun 30, 2008 | | Write a comment
By Brandie Jefferson    Email

FALL RIVER -- The man killed early Friday morning in his apartment on Hamlet Street was identified as Derrick Hogue, 33, by the Bristol County District Attorney’s office today. Gregg Miliote, the spokesman, would not release Hogue’s name previously because......

social bookmarking


Photo: Bringing art to Providence neighborhoods

2:38 PM Mon, Jun 30, 2008 | | Write a comment
By Jack Perry    Email

Journal photo/ Andrew Dickerman Ruby Stenhouse, Isabel Taylor, both in front, and Jaclyn Gagnon and Kathleen Todesco, in back, of the dance company JUMP! perform as Mayor David N. Cicilline, the Department of Art, Culture & Tourism and the......

social bookmarking


Social Service advocates decry new state budget

1:45 PM Mon, Jun 30, 2008 | | Comments (3)
By Brandie Jefferson    Email

A group of social service advocates and community groups are set to gather tomorrow in Central Falls to protest the new state budget. The executive director for the RI Coalition for the Homeless, Jim Ryczek, is scheduled to speak as......

social bookmarking


State police seize fireworks, arrest Coventry man

1:37 PM Mon, Jun 30, 2008 | | Comments (3)
By Mike McKinney    Email

The Rhode Island State Police arrested a Coventry man Saturday on felony fireworks possession and delivery charges. Bryan Gartner, 37, of 83 East Shore Drive, was charged with possession of class C fireworks over $500 and delivery of fireworks, the......

social bookmarking


C. Falls police search for man who stabbed siblings

1:32 PM Mon, Jun 30, 2008 | | Write a comment
By Brandie Jefferson    Email

CENTRAL FALLS –– The police are searching for a man they say stabbed a brother and sister during a domestic dispute early Sunday morning. Kevin Stanford, 24, is being sought on a warrant charging him with two counts of assault......

social bookmarking


Lynch taps Stacey Veroni to lead criminal division

1:15 PM Mon, Jun 30, 2008 | | Write a comment
By Mike McKinney    Email

PROVIDENCE -- Attorney General Patrick C. Lynch today announced he's named prosecutor Stacey Veroni to lead the Department of Attorney General's criminal division. Veroni, an assistant attorney general, will be division chief, succeeding Assistant Attorney General Alan R. Goulart, who......

social bookmarking


Nonprofits, just a few more hours to file

11:51 AM Mon, Jun 30, 2008 | | Write a comment
By Brandie Jefferson    Email

Today is the deadline for nonprofit organizations to file their annual reports with the state. The more than 6,500 nonprofits in Rhode Island are required to report the names and contact information of officers and boards of directors. According to......

social bookmarking


Man accused of rape expected to waive bail hearing

11:46 AM Mon, Jun 30, 2008 | | Write a comment
By Mike McKinney    Email

PROVIDENCE -- Marco Riz, who is accused of carjacking, kidnapping and raping a woman, is expected today to waive his right to a bail hearing and agree to be held at the Adult Correctional Institutions while a grand jury reviews......

social bookmarking


Amtrak completes bridge work in Connecticut

11:24 AM Mon, Jun 30, 2008 | | Write a comment
By Brandie Jefferson    Email

NEW LONDON, Conn. — Amtrak has resumed regular service between New York and Boston after completing work on a 90-year-old bridge in Connecticut. Workers installed a new vertical lift span on the Thames River Bridge between New London and Groton......

social bookmarking


Owners of 1149 plan second location in Seekonk

11:00 AM Mon, Jun 30, 2008 | | Comments (1)
By Paul Grimaldi    Email

The owners of the 1149 restaurant on Division Street in Warwick are expected this month to unveil plans for a second eatery, this one in Seekonk. About 15 months ago, partners John G. Picerne and Thomas L. Wright spent more......

social bookmarking


Higher fuel costs drive up RIPTA fares

10:20 AM Mon, Jun 30, 2008 | | Comments (8)
By Brandie Jefferson    Email

Beginning tomorrow, public transportation will be a little more costly than it is today. Citing increases in fuel costs, the Rhode Island Public Transit Authority is raising fares tomorrow, the beginning of its fiscal year. The fare for buses and......

social bookmarking


AAA: After big increase, gas prices hold steady

10:13 AM Mon, Jun 30, 2008 | | Write a comment
By Jack Perry    Email

Rhode Island drivers taking a July 4th vacation will pay an average of $1.17 more per gallon this year, according to AAA Southern New England. Although AAA's weekly survey found gasoline prices unchanged from last week at $4.099 per gallon,......

social bookmarking


Bringing the arts to your neighborhood

9:46 AM Mon, Jun 30, 2008 | | Write a comment
By Brandie Jefferson    Email

This summer, the best seat in the house may be your front lawn. The Department of Art, Culture and Tourism, the Parks Department and Mayor David Cicilline are set to announce the summer line-up for the 2008 Neighborhood Performing Arts......

social bookmarking


Autopsy today for man who died in police custody

9:43 AM Mon, Jun 30, 2008 | | Comments (3)
By Brandie Jefferson    Email

An autopsy is scheduled today for a 47-year-old man who died while in police custody. Witnesses said they saw police elbow jab Mark Jackson, of Warwick, in the ribs and smash him in the face with their knees. Police say......

social bookmarking


Man accused of highway stroll in thong, wig

9:42 AM Mon, Jun 30, 2008 | | Write a comment
By Jack Perry    Email

MANCHESTER, Conn. (AP) -- A Manchester man has been arrested after he allegedly strolled along Interstate 291 wearing nothing but a thong, fake breasts and a wig. Police say they received several calls about the man, which prompted an hour-long......

social bookmarking


Bail hearing for man accused of kidnapping, rape

9:37 AM Mon, Jun 30, 2008 | | Write a comment
By Brandie Jefferson    Email

A bail hearing is scheduled today for the man accused of carjacking, kidnapping and raping a woman. Police say Marco Riz kidnapped a woman from the parking lot of a Stop & Shop on Route 2 in Warwick, then drove......

social bookmarking