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Andrea Panciera: December 2007 Archives

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New-home sales plunge to lowest level in 12 years

12:48 PM Fri, Dec 28, 2007 | | Comments (1)
By Andrea Panciera    Email

WASHINGTON -- Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector. The Commerce Department reported today that new-home sales tumbled by 9 percent......

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End of concrete-plant controversy in Cranston?

6:50 PM Thu, Dec 27, 2007 | | Write a comment
By Andrea Panciera    Email

CRANSTON -- Mayor Michael T. Napolitano is scheduled to announce tomorrow that the city has reached an agreement, in principle, to buy out a controversial, half-built concrete plant in the Eden Park section of the city, according to administration officials.......

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Index: U.S. home prices down for 10th month in a row

1:32 PM Wed, Dec 26, 2007 | | Write a comment
By Andrea Panciera    Email

NEW YORK -- U.S. home prices fell in October for the 10th consecutive month, posting their largest monthly drop since early 1991, a widely watched index showed today. The record 6.7 percent drop in the Standard & Poor's/Case-Shiller home price......

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Merchants seek to lure shoppers for post-holiday bump

1:23 PM Wed, Dec 26, 2007 | | Write a comment
By Andrea Panciera    Email

NEW YORK -- Retailers opened earlier than ever on the day after Christmas today and slashed prices with hopes of salvaging a holiday season that is falling short of already modest expectations. Merchants are trying to lure post-Christmas bargain hunters......

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EPA, Brayton Point reach agreement on cooling system

7:05 PM Mon, Dec 17, 2007 | | Write a comment
By Andrea Panciera    Email

The U.S. Environmental Protection Agency said it has reached a settlement in which the owner of the coal-burning power plant in Somerset, Mass., Dominion Energy Brayton Point, LLC, has agreed to install a new cooling system that will significantly reduce......

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Live video: President Bush to talk on state of economy

11:26 AM Mon, Dec 17, 2007 | | Write a comment
By Andrea Panciera    Email

WASHINGTON -- President Bush is due to talk about the economy late this morning, in a live broadcast. The White House says it is encouraged by concessions made by Democrats over the weekend as they crafted a $500 billion-plus catchall......

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Storm's costs include revenue fall at Twin River

3:04 PM Fri, Dec 14, 2007 | | Write a comment
By Andrea Panciera    Email

LINCOLN -- Revenue at the Twin River slot parlor was off more than $1 million yesterday due to the snowstorm. That's down an estimated 85 percent from the similar day last month, according to Craig Sculos, the venue’s general manager.......

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Alert: Fed trims key interest rate in bid to avoid recession

2:25 PM Tue, Dec 11, 2007 | | Write a comment
By Andrea Panciera    Email

WASHINGTON (AP) -- The Federal Reserve cut a key interest rate by one-quarter of a percentage point today, trying to keep the country out of recession. The reduction in the federal funds rate to 4.25 percent marked the third rate......

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Coast Guard stands firm on ruling against LNG tanker plan

5:11 PM Mon, Dec 10, 2007 | | Write a comment
By Andrea Panciera    Email

The Coast Guard has upheld its finding that the waterway approach to the proposed Weaver's Cove liquefied natural gas terminal in Fall River, Mass., is "unsuitable" for tanker traffic because of navigational safety, rejecting the company's appeal. Weaver's Cove Energy......

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CVS agrees to pay safety fines involving minors, back wages

1:27 PM Mon, Dec 10, 2007 | | Write a comment
By Andrea Panciera    Email

CVS Pharmacy, the Woonsocket-based national chain, has agreed to pay fines totaling $226,598 and back wages of $38,151 to 51 employees after a federal investigation turned up wage violations and dozens of minors who were exposed to job hazards. The......

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Photo: Handshake seals pact for wave energy project

3:04 PM Tue, Dec 04, 2007 | | Write a comment
By Andrea Panciera    Email

Journal photo / Frieda Squires Tom Denniss, executive director of Oceanlinx, left, an Australian developer of wave technology for renewable energy, signed a memorandum of understanding with Govenor Carcieri, right, today at the University of Rhode Island Bay Campus,......

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2 hospital execs appeal corruption convictions

6:51 PM Mon, Dec 03, 2007 | | Write a comment
By Andrea Panciera    Email

BOSTON -- A judge's instructions to a jury in a federal corruption case were too broad and allowed two former hospital executives to be convicted of conduct that was not illegal, their lawyers told a federal appeals court today while......

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EB gets $270M for making submarine components

6:05 PM Mon, Dec 03, 2007 | | Write a comment
By Andrea Panciera    Email

The Navy has awarded General Dynamics Electric Boat a $270 million contract to make components for a Virginia-class submarine, and some of the work will be done in Quonset Point and Groton, Conn. The contract covers steam and electric plant......

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Carcieri to sign pact with Australian wave-energy firm

3:31 PM Mon, Dec 03, 2007 | | Write a comment
By Andrea Panciera    Email

Governor Carcieri tomorrow will sign an agreement with an Australia-based company to explore installing the first technology in Rhode Island to harness ocean waves as a renewable-energy generating source. The agreement will start installation of a 1.5-megawatt generating unit that......

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