Middletown office to work on Navy contract

The Naval Undersea Warfare Center, Newport Division, has awarded a $23.5-million contract over five years to Research and Development Solutions Inc., a defense contractor with headquarters in McLean, Va. The contract’s technical services for imaging, electronic warfare, periscope and communication systems will be done at RDSI’s Middletown offices. The company will award subcontracts to Seacorp, General Physics and Sonalysts. Work is set to begin this month.

Help on the way for Quaker employees

The U.S. Department of Labor has awarded a $617,515 national emergency grant to help workers affected by the closure of Quaker Fabric Corp. in Fall River. The department certified on July 25 that workers at the site also are eligible for Trade Adjustment Assistance. The $617,515 grant will provide reemployment services to help the workers start new careers in growing industries. On July 2, Quaker Fabric announced its intent to close its business and has since filed for bankruptcy court protection. More than 900 employees are affected. The grant will provide workers with services not covered under the TAA program, including assessment, career counseling and job search assistance.

Newport Grand to break ground on new space

Newport Grand will celebrate the construction of a new gambling space with a groundbreaking ceremony tomorrow at 3 p.m. The $20-million investment will transform the former jai alai fronton into two floors with 835 additional slot machines, enhanced security operations and back-of-house functions. When completed next summer, Newport Grand will offer more than 2,000 slot machines and simulcast wagering to the country’s best tracks. In addition, Newport Grand is making infrastructure improvements and adding new food and beverage outlets. During construction, all slot machines will be operational with no disruption to the existing facility or guests. Newport Grand employs 200 people.

P&W quarterly income rises

The Providence and Worcester Railroad Co. reported it had net income of $347,000 for the second quarter compared with net income of $259,000 in the same period last year. Diluted income per common share for the second quarter of this year was 7 cents compared with 6 cents last year. Opening revenues for the second quarter of this year decreased $271,000, or 3.7 percent, from the second quarter of last year, primarily due to a decline in container traffic volume. These lower operating revenues were more than offset by a $187,000 decrease in operating expenses and a $234,000 increase in other income for the quarter. During the six months ended June 30, the company had a net loss of $1.2 million (18 cents per common share) compared with a net loss of $10,000 (less than 1 cents per share) last year. The increase in the net loss is attributable to the decline in operating revenues experienced during the first quarter of this year, as previously reported.

R.I. economy improves in 2nd quarter

Rhode Island’s economy ended the second quarter on a somewhat positive note, as it sustained a pace of activity well above the March-April slowdown. For June, the Current Conditions Index was 58, with 7 of 12 indicators improving. For the second consecutive month, the CCI surpassed its year-earlier value. This month’s improving indicators turned in good, but not spectacular, performances. And some trends, both good and bad, have become better defined.

FM Global makes top-50 list

FM Global, the Johnson-based commercial property insurer, has been named by Ward Group, the leading provider of benchmarking and best-practices services to the insurance industry, as one of the top 50 performing insurance companies in the United States for superior financial performance. Based on Ward Group’s 17th annual analysis of thousands of companies in the insurance industry, FM Global is recognized for achieving outstanding financial results in the areas of safety, consistency, and performance over the period 2002 to 2006.

Washington Trust, local Chamber team up

The Washington Trust Co.’s commercial lending group is providing $400,000 in financing to the South Kingstown Chamber of Commerce for the construction of its headquarters at 230 Old Tower Hill Rd. The construction will include a one-story, 1,800-square-foot building. The Chamber serves as an official tourist information center and promotes the South Kingstown economy by providing a source of community information and business referrals.

Random acts of kindness by Cox employees

About 100 employees of Cox Communications yesterday visited several sites in Warwick to celebrate Random Acts of Kindness Day. At Kent Hospital, they delivered products to a family of a newborn baby; at the Warwick Fire Department, they delivered pizzas and sodas; at a Mobil gas station, they pumped gas and gave away gas cards; at the Boys and Girls Clubs of Warwick, they wrote letters to troops in Iraq; at the Governor Francis Inn, they paid for lunch; and at the Brentwood Nursing Home, they scooped ice cream. “Today, we aim to show this community how much we appreciate the business and the people. Random Acts of Kindness Day is an extension of Cox’s ongoing commitment to make the communities where our employees live and work a better place,” said Paul Cronin, vice president and regional manager, Cox Communications New England.

Business Expo set at Ryan Center

The South Kingstown Chamber of Commerce will hold its third annual statewide Business to Business Expo from 1 to 7 p.m. Oct. 3 at the Ryan Center, Kingston. The Chamber’s signature event is being promoted to exhibitors and attendees as “The most productive six hours you will spend this year!” Businesses interested in participating as exhibitors are encouraged to register before Sept. 7 to be listed in the Expo program guide. Information on the Expo, including online registration, is available at the South Kingstown Chamber of Commerce Web site, www.skchamber.com, and by calling the Chamber office at (401) 783-2801.

Judge blocks Long Island Sound pipeline

A federal judge has sided with Connecticut officials in their battle to halt a natural-gas pipeline under Long Island Sound proposed by Spectra Energy and Keyspan Corp., the largest distributor in the Northeast and the owner of the liquefied natural gas storage and receiving terminal in Providence. U.S. District Judge Stefan R. Underhill in Bridgeport last Wednesday ruled against the U.S. Commerce Department, which three years ago rejected Connecticut’s objection to the proposed Islander East pipeline. State Attorney General Richard Blumenthal announced the decision on Monday. Underhill said the Islander East project, a 50-mile pipeline from Branford, Conn., to Yaphank, N.Y., failed to consider the environmental impact on Long Island Sound. He ordered the Commerce Department to reconsider its decision. Secretary of Commerce Carlos Gutierrez “concluded that the national interest outweighed the adverse coastal effects ... because those effects would be limited in scope and temporary in duration,” Underhill said. “That conclusion is not supported by evidence or data, and is therefore arbitrary and capricious.” John Sheridan, a spokesman for Islander East in Waltham, Mass., said Spectra and Keyspan have not decided on their next step.