07/24/2008

Mapping the ocean: SAMP will target areas for renewable energy projects
State regulators and researchers from the University of Rhode Island are about to begin a two-year project to map out sections of nearby ocean waters to identify suitable spots for renewable-energy developments.

A.T. Cross income, sales rise
Lincoln-based A.T. Cross reports second-quarter income and sales up compared with last year.

Stocks advance following sharp drop in oil prices
Dow rises for second day along with broader stock indicators easing Wall Street economic concerns

NEW BUSINESSES
KEY: Director (D), Incorporator (I), President (P), Agent (A), General Partnership (GP), Limited Partnership (LP), Limited Liability Corp. (LLC).

Film studio proposed for Bridgeport, Conn.
Teamsters support Lifespan merger proposal

Bulletins
•Companies

Record profits for U.S. oil giant
ConocoPhillips posts highest quarterly profit in its history

All districts reporting ‘price pressures,’ according to Fed
The central bank’s economic survey for June and July shows “sluggish or slowing” consumer spending

Navy will build only two Zumwalt destroyers
The newest warship is bigger and costlier than the Arleigh Burke destroyers now in service

07/23/2008

Fewer flights, higher ticket prices cut travel at Logan
Passenger traffic through Logan International Airport in Boston dropped nearly 5 percent in the first six months of this year compared with the same period last year, as airlines cut back on unprofitable routes and travelers responded to sharply higher ticket prices.

Bradley Airport officials hopeful over Europe routes
WINDSOR LOCKS, Conn. — If passenger numbers are any indication, the desire for nonstop service between Europe and Bradley International Airport isn’t likely to abate even after Northwest Air Lines ends that route this fall.

Price of oil dips $3 a barrel; stocks rebound
Stocks initially fell but crude’s decline persuades some investors to wade back into equities.

Cranston credit union considers switch to bank
Ultimately, the members will decide whether the switch takes place.

Record profits in 2nd quarter for KVH of Middletown
The Middletown company’s CEO says it is receiving new orders for its fiber-optic gyros.

Job cuts, credit deal push UAL
The United Airlines parent “made significant strides in shoring up liquidity,” says a Standard & Poor’s analyst.

Bulletins
•Companies

Business Digest
Trade show to spotlight jewelry makers

Price of oil dips $3 a barrel; stocks bound
Stocks initially fell but crude’s decline persuades some investors to wade back into equities.

07/22/2008

How much does each city and town get from the meals and beverage tax?
Meals & beverage taxesThe state collects an 8-percent tax on meals and beverages —

Cash discount gives gasoline retailers, customers a breath of relief
Jon LaChappelle has weathered energy crises and price spikes in the 40 years he’s owned J and D’s West Kingston Service, a gas station, convenience store and repair shop in West Kingston.

07/23/2008

Business Digest
Trade show to spotlight jewelry makers

07/22/2008

Bank of America earnings beat expectations
“Most of our businesses are performing well even with the current state of the economy and the problems with housing,” Bank of America CEO Ken Lewis says.

CEO of troubled Landmark Medical Center resigns
Gary Gaube, who will leave Landmark Medical, in Woonsocket, at the end of the year, says hospital finances are threatened by millions in uncompensated care.

To avert showdown, Yahoo gives investor Icahn 3 of 11 seats on board
The compromise may set the stage for the directors to accept a takeover offer from Microsoft.

On mixed day, investors watch oil, take profits
The Dow Jones Industrial Average falls 29.23 after last week’s solid gain.

Bulletins
•Companies

Downturn eats into restaurant sales
Food-service industry sales in Rhode Island eroded sharply in May, according to figures from the state Division of Taxation.

Hasbro stock stumbles on news that toy prices will increase again
But the 1.7-percent drop follows a year in which profits and stock prices have risen sharply.

Business Digest
N.Y. company acquires UNICOM, of Woonsocket

07/20/2008

Nonprofit helps homeowners in crisis
WASHINGTON — The Neighborhood Assistance Corporation of America is doing something that should have been done a long time ago.

07/21/2008

Nonprofit organization assists struggling homeowners
WASHINGTON — The Neighborhood Assistance Corporation of America is doing something that should have been done a long time ago.

07/20/2008

Careers
Q: Should I take a contract job that lasts for four years and then they renew the bid?

07/21/2008

Insurers place limits on disaster coverage
Most policies used to guarantee the replacement cost of a home, but that isn’t true any longer.

For Con$umers
Some Amtrak fares rise

Tapping into retirement account can be costly
NEW YORK — Saving enough for retirement can fall far down on a to-do list for people squeezed by rising costs for necessities such as food and energy. But even those who do set aside money can in a single move risk much of what they’ve saved.

Neil Downing: Lawmakers left state’s capital gains tax structure unchanged
If you plan to sell mutual fund shares, stock or other such assets, how much tax will you have to pay to Rhode Island? That’s the issue a man from North Providence was driving at in a question to MoneyLine:

The building blocks of financial success
TUSCALOOSA, Ala. — While his friends spend their money on video games and candy, Nicholas Sella saves most of his $8 weekly allowance, investing part in stocks and stashing the rest into a savings account.

07/20/2008

R.I. should reverse tax cuts for the very rich
Our tax system in the United States and in Rhode Island takes from the poor, the middle class and even from the upper middle class to subsidize the very rich — those with incomes over $1 million per year. This violates important moral principles that underpin civilization and democracy.

Columnist Pamela Yip: Medicare cards need updating to avoid ID theft
Each time I write a column about guarding your Social Security number, I get calls from seniors complaining that the government is one of the biggest contributors to identity theft because it exposes seniors’ Social Security numbers on their Medicare cards.

Retiring benefits
General Motors Corp.’s move to eliminate retiree health benefits for salaried workers is a sobering signal to the rest of the U.S. work force: Even those who are in or near retirement shouldn’t count on keeping the company coverage they have built up.

PEOPLE IN BUSINESS
Davis-Standard

BANKRUPTCIES
For the week ending July 15, there were 87 personal cases filed in U.S. Bankruptcy Court, bringing the total for all bankruptcy filings to 2,214. There were 39 cases filed for this week last year. Two years ago for this week there were 30 cases. There were 1,344 cases on this date last year. Two years ago on this date there were 783. Chapter 7: Liquidation; Chapter 11: Reorganization; Chapter 13: Adjustment of debts of individual with regular income.

Neil Downing: You can’t leave money in IRA forever
Q: My question involves retiring before the age of 59-1/2. What is required . . . for taking distributions at a later date from 401(k) and IRA investments?

BizBlog
 Read the BizBlog on projo.com from Monday through Friday to get the latest local business news.

INSIDE
Biz Bits — Spending cuts on home remodeling. F2

Airport salaries soar above most other state agencies
A review of payroll records from 10 quasi-public state agencies finds that employees at the Rhode Island Airport Corporation had the highest average paychecks last year.

SPEAKERS’ TABLE
Tuesday

Biz Bits & Quips
Economy cuts into home remodeling

Baseball overcomes recessions pretty well
The cost of living keeps going up.

LETTERS
Gas price blame

NETWORKING
Tuesday

Restored Sunnymead makes a splash
The 17-room Victorian mansion has been transformed into a comfortable, modern home with period style.

Mortgage rates dip on all types of loans
WASHINGTON (AP) — Mortgage rates fell last week with 30-year mortgage rates dropping to the lowest level in six weeks as investors became less worried that the Federal Reserve would soon tighten credit policy to stall inflation.

Capital Gains
Q. I purchased a house in Maryland 25 years ago for $70,000. I tried to sell the house last year asking $430,000 but was unsuccessful in this down market. I then put the house on a rental program and moved out of state.

State police on the lookout for recruits
The state police are seeking men and women for next year’s training academy and hope to hire 35 new troopers.

Vibco Vibrators Inc. is a leader in the lean approach to keeping companies competitive
Vibco Vibration Inc., the winner of the governor’s Workforce Innovation Award, encourages workers to initiate improvements.

Finding the right pet sitter eases stress
A budding industry of pet sitters, dog walkers and doggie daycares aim to help workers hold jobs while keeping Fido cared for and happy.

05/04/2008

Small Business: Building the network
PAWTUCKET — “No man is an island,” wrote the 17th-century poet John Donne. Neither, it would seem, is a business.

01/06/2008

Start-up: Kreatelier was launched at the Center for Women & Enterprise
PROVIDENCE — On a Wednesday night in mid-November, Line Daems and Pernilla Frazier arrive in separate cars outside the Center for Women & Enterprise overlooking Route 195 in the city’s Fox Point section.