R.I. among states settling with Dell

Rhode Island is among the states that Dell Inc. said it has reached a legal settlement with over alleged misleading financing and service offers to PC buyers. Dell will pay $3.85 million to at least 46 states and a portion of that will be used to reimburse the states for legal costs. People who bought a computer or service on or after April 1, 2005, and had a problem with a financing offer, rebate or service can file a claim within 90 days with their state attorneys general. Connecticut and Washington, representing a much larger group of states, approached Dell with their concerns in the middle of last year. In an interview, Connecticut Attorney General Richard Blumenthal said that an “epidemic-like wave of complaints” about Dell’s practices prompted him to contact his counterparts across the country. Blumenthal said consumers who were offered zero-percent financing were later ambushed by high interest rates and fees. Some people “faced unacceptable obstacles obtaining warranty service on their Dell computers and others said they never received promised rebates,” he added.

Youth hockey tournament begins today

A youth hockey tournament that begins today in Rhode Island is expected to draw 3,000 players and fans, giving a boost to local hotels and restaurants struggling from the economic downturn. The Providence Warwick Convention & Visitors Bureau says the John W. Kennedy Memorial Hockey Tournament will include 102 teams from 12 states. Games will be held at Providence College’s Schneider Arena, the Cranston Veterans Memorial Rink and at other sports complexes. The tournament runs through Monday.

Kennedy wants changes to bailout

U.S. Rep. Patrick J. Kennedy met with job seekers yesterday at the Providence netWORKri Career Center and discussed improved accountability from financial institutions for the second installment of the Troubled Asset Relief Program. Kennedy said he is sending a letter to Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, proposing that institutions receiving TARP aid be required to implement new credit-card regulations within 60 days; be prohibited from raising credit card interest rates on consumers; and provide more flexibility for bankruptcy judges to stem foreclosures.

Economic Policy Council to meet

With Rhode Island suffering from one of the country’s highest rates of unemployment, the state Economic Policy Council, Governor Carcieri’s top economic advisers, will meet today at 10 a.m. Carcieri is scheduled to discuss the “current economic conditions” and his proposed stimulus plan, according to the meeting agenda. Later, Mark G. Brodeur, who replaced David C. DePetrillo as director of the state Division of Tourism last October, will speak about that industry. The meeting will be held at the state Economic Development Corporation headquarters, at 315 Iron Horse Way, Suite 101, in Providence.

Rogers Corp. issues revised outlook

Rogers Corp., based in Rogers, Conn., yesterday revised guidance for the fourth quarter that ended Dec. 31. Rogers (ROG:NYSE) now projects fourth-quarter net sales of $78 million to $79 million compared with the Oct. 31 guidance report of $88 million to $92 million. Earnings per diluted share for the fourth quarter, including approximately 38 cents per diluted share of charges associated with a previously announced legal settlement, are now projected to be 5 cents to 11 cents. Excluding the approximate 38-cent charge, earnings per diluted share are projected to be 43 cents to 49 cents versus the previous guidance of 50 cents to 56 cents per diluted share.

Vermont town may allow larger buildings

Manchester, Vt., voters will decide in March whether to allow larger buildings to be built downtown. The Select Board has chosen to have residents vote on two bylaw change proposals at Town Meeting. The proposed changes would increase the allowable size for buildings from 3,000 square feet to 15,000 square feet on Depot Street and 7,000 square feet on Route 7A South as long as developers meet certain goals of the town plan. But it would be highly unlikely for a developer to meet all of the guidelines at many locations.

Vermont expands food stamp program

About 30,000 Vermonters are now eligible for an expanded food stamp program. On Friday, Gov. Jim Douglas inaugurated the expanded program and announced its new name, “3Squares VT.” The new program increases the monthly gross income limits and eliminates the asset test for most applicants. The program is paid for entirely with federal money. The state says the expanded program could add $22 million to the Vermont economy. Douglas and Commissioner Steve Dale of the Department of Children and Families announced the program at a Berlin supermarket. Dale says that in November 30,200 households received benefits in Vermont. The expansion could nearly double that number.

Utility, union agree on contract

Vermont’s largest utility and the union representing 216 Central Vermont Public Service Corp. employees have agreed on a five-year contract, the longest in the company’s history. The deal took effect Thursday, when the existing three-year contract expired. The contract includes base salary adjustments of 10 cents to 60 cents per hour for certain jobs and pay increases of 3.35 percent in the first year for unionized workers, 3.3 percent in the second, third and fourth years and 3.25 percent in the last year. The International Brotherhood of Electrical Workers Local 300 and CVPS agreed to replace the company’s traditional pension plan for new hires with an enhanced 401(k) plan.

Vt. manufacturer lays off 32 workers

NSA Industries of St. Johnsbury, Vt., has reduced its work force by 32 workers. Chan Morgan, president of the sheet-metal fabrication, welding and precision machining operation, said the layoffs were driven by a softening of demand going into this year. NSA Industries, which has about 310 employees, was founded in 1982 and sold to Worth Mountain Capital Partners in Middlebury in the fall of 2007. The laid-off workers were not offered severance packages. Morgan says the Vermont Department of Labor has set up two sessions to help affected employees.