New Quonset road name: Romano Vineyard Way

The Quonset Development Corporation (QDC) is reaching back to 1908 and the early use of the 370 acres bordered by Newcomb and Post Roads for the naming of a new connector road at the Quonset Gateway. The QDC board at its meeting Monday approved naming the road Romano Vineyard Way. Started by four brothers, the Romano Farm and Vineyard once covered all of Davisville with grape arbors and fruit trees. Today, wild grapes are still growing in some spots — remnants of Rhode Island’s first vineyard that in its heyday produced 100,000 gallons of wine each year. Varieties included Rhode Island Red Sparkling Burgundy and Devils Foot America Port — each selling for 50 cents a gallon. During prohibition, the vineyard sold sacramental wine to churches and synagogues and wine for “medicinal purposes.” When World War II broke out, the land was taken by the federal government as part of its massive war effort that included the building of the Davisville and Quonset bases.

Information sought regarding CVS acquisition

Advisory Research Inc., with a 9.2-percent stake in Longs Drug Stores Corp., has asked for more information regarding Woonsocket-based CVS Caremark Corp.’s $2.7-billion acquisition of the company. Advisory Research, based in Chicago, specifically asked Longs about the value of its real estate, the investment company said yesterday in a regulatory filing. On Aug. 18, Longs recommended that shareholders approve CVS’ purchase, even as activist investor Bill Ackman hired a firm to explore getting a higher price.

Shape up RI holding informational meetings

Shape Up RI, a statewide, nonprofit wellness organization, will hold one-hour informational meetings in the Rhode Island Room at the Rhode Island Foundation at 3:30 p.m. Aug. 26, and 9 a.m. Aug. 28 about the group’s 2009 program. The organization encourages Rhode Islanders to improve their health and lifestyle by increasing their physical activity and developing healthful eating practices. Program participants compete on teams to lose the greatest percentage of collective team weight, log the most hours of physical activity and walk the highest number of steps over a 12-week period.

RIPEC seeks nominees for annual award

The Rhode Island Public Expenditure Council seeks nominees for its Robert M. Goodrich Distinguished Public Service Award, which recognizes career public employees who make a sustained superior contribution in the service of taxpayers. One local and one state employee are selected annually for the awards, which are named in honor of RIPEC’s first executive director. The recipients will be recognized at the council’s annual meeting Oct. 4. Nominees must have a total of at least five years of non-elective, full-time public service in Rhode Island state and/or local government. Nominations should be sent to: Paula Twidale, chair, Goodrich Public Service Awards Committee, c/o Rhode Island Public Expenditure Council, 300 Richmond St., Suite 200, Providence, RI 02903.

Providence Chamber launches new magazine

The Greater Providence Chamber of Commerce has launched its newest publication, the Rhode Island Business Quarterly. The magazine, scheduled for next month, is being designed to dig deeper into the events, issues and people that create and shape the Rhode Island regional economic landscape. Created in partnership with Rhode Island Monthly Communications, the magazine is targeted at giving site-selection officials, young professionals, corporate executives, small-business owners and potential newcomers a glimpse of the entrepreneurial activity, investment and job growth in and around the state. Each issue will include an in-depth feature on area business initiatives and policies; a Snapshot of Success — a look at innovative business practices by local companies; and a business report — a roundup of current news; and a calendar of events.

Bumper crop of cranberries in Mass.

Massachusetts is eying a bumper cranberry crop this fall. Federal agricultural officials say the crop could increase as much as 25 percent this year and yield up to 1.9 million barrels, the best year in the state since 1999. Gary Keough, director of the U.S. Department of Agriculture’s statistical service New England field office, said the wet weather in July and August offset concerns about a hot June. He said there is also a cyclical nature to the cranberry harvest, and last year was down. The forecast was presented at the Cape Cod Cranberry Growers’ Association’s annual meeting in Wareham and was based on survey responses by more than 300 Bay State growers. Cranberry grower Peter Beaton says a good crop is “just what the industry needed.”

Mass. calls on Fidelity to buy back securities

Massachusetts Secretary of State William Galvin is urging Fidelity Investments to buy back frozen auction-rate securities from individual investors who bought them through the company’s brokerage unit. The world’s largest mutual-fund manager pitched the securities as “safe, liquid principal-protected investments,” which they weren’t, Galvin wrote in a letter Tuesday to Fidelity chairman Edward “Ned” Johnson III. “It is my hope that Fidelity will follow the industry trend and promptly repurchase these securities that it has sold to its customers, many of whom now find themselves unable to access money that they thought was as liquid as cash,” Galvin wrote in the letter. He asked Johnson to redeem the debt at par, or 100 cents on the dollar. State and federal regulators are expanding an effort to help investors who have been trapped in auction-rate securities since the $330-billion market collapsed in February. “Fidelity is neither the issuer, underwriter or the sponsor” of auction-rate securities, spokesman Vincent Loporchio said in an e-mail statement. “We believe the underwriters should stand behind their securities.”

APC announces next-generation fuel cell

West Kingston-based APC has announced a next-generation fuel cell that provides hydrogen-based, environmentally friendly backup power for the company’s data center system. APC, part of global energy-management specialist Schneider Electric of France, is focusing on providing “green” backup power to meet the need for clean and reliable extended-run applications. The new fuel cell produces emission-free electrical backup power using air and stored hydrogen and was developed in collaboration with Hydrogenics Corp. of Mississauga, Ontario, Canada.

Assets liquidated of credit union in Conn.

The National Credit Union Administration, the independent federal agency that charters and supervises federal credit unions, has liquidated the assets of a Meriden, Conn., credit union and declared it insolvent as part of a continuing probe. The Meriden F.A. Federal Credit Union closed its doors in July and federal officials confirmed that checks have been distributed to members with active accounts when the credit union was placed into liquidation. Officials say the credit union was serving more than 200 members and had assets of nearly $338,000 when the liquidation process began.

Group calls for closing of Vt. nuclear plant

The Vermont Public Interest Research Group said Tuesday that it had gathered more than 12,000 signatures on postcards calling for the Vermont Yankee nuclear plant to close when its current license expires in 2012. VPIRG held a news conference to make the announcement outside the State House in Montpelier, where lawmakers are expected to decide in their 2009 session whether the state’s lone reactor, which is located in Vernon, should be authorized to seek a 20-year license extension.