Business
Business Digest
01:00 AM EDT on Tuesday, March 25, 2008
National Grid asked to extend shutoff date
Senate President Joseph A. Montalbano, D-North Providence, has asked gas and electricity utility National Grid to voluntarily extend its April 15 end for a moratorium on shutoffs of low-income customers until May 1. The extension would ensure that low-income households that are currently behind on their utility bills are able to maintain their service until warmer weather arrives. “This heating season, we have seen sharp increases in home heating costs and an unprecedented number of utility bills going unpaid,” wrote Montalbano. “Last year, the number of people who had their source of heat turned off hit more than 20,000 households in Rhode Island. My hope is that you will continue to supply heat to families who are struggling to pay their bills until this heating season ends.” He said that from information provided by the George Wiley Center, it appears that this year, Rhode Island will be at a record level of residential utility terminations for nonpayment.
NewportFed to add branch in Stonington
NewportFed said yesterday that it has signed an agreement with Readco Stonington III LLC to lease an 11,000-square-foot parcel located in the shopping center development at the corner of Route 2 and Route 49, in Stonington, Conn. The bank will construct a 3,400-square-foot branch with three drive-through lanes, including an ATM. “We are very excited to come to Stonington which, added to our branch presence in nearby Westerly, will provide added convenience to current customers, a first-class product menu and top-quality customer service to those who are new to us in Stonington,” said Kevin McCarthy, president and chief executive officer. NewportFed, based in Newport, is a $375-million federally chartered publicly owned bank with five locations in Rhode Island.
Gas prices fall a penny in R.I.
The average price of regular self-serve gasoline in Rhode Island dropped one cent from last week, to $3.189 a gallon, according to a survey of local gas dealers yesterday by the Rhode Island Office of Energy Resources. This was the first decline since February. The average price of heating oil fell 4 cents, to $3.889 a gallon, according to the survey. Last week’s price of $3.929 was a record high.
Courtyard Marriott completes upgrade
Crestline Hotels & Resorts said yesterday that it has completed a major renovation of the 216-room Courtyard by Marriott Providence Downtown. The work includes all of the hotel’s guest rooms, lobby, public areas and meeting space. The downtown facility is owned by Barcelo Crestline Corp. and managed by Crestline Hotels & Resorts.
Gansett Cruises adding specialty tours
Jeff O’Brien, of Gansett Cruises of Newport, said yesterday that during the fall of this year, he and his crew will partner with Viking Tours to offer specialty cruises to guests disembarking from Crystal Cruises. Under contract as the shore agents for Crystal, Viking executives added a new harbor tour aboard the M/V Gansett as a replacement for tours that were formerly conducted aboard their own company’s Viking Queen, a vessel that retired from service in 2006.
Conn. drugmaker to study Japanese patients
Alexion Pharmaceuticals Inc., of Cheshire, Conn., has completed enrolling patients in its previously announced AEGIS study to evaluate the safety, efficacy and pharmacology of its drug Soliris (eculizumab) as a treatment for Japanese patients with paroxysmal nocturnal hemoglobinuria (PNH). The study, which was authorized by Japan’s Pharmaceutical and Medical Device Administration, over-enrolled a total of 29 patients who will be treated with Soliris at clinical sites throughout Japan for 12 weeks. PNH is a rare, acquired genetic blood disorder defined by hemolysis, in which patients’ red blood cells are destroyed by complement, a component of the body’s immune system.
LIN TV promotes engineering leader
Providence-based LIN TV Corp., a local television and digital media company, has announced that Les Garrenton has been promoted to director of engineering and broadcast systems. He will be responsible for evaluating new broadcast technologies and applications for the company’s 29 television stations, overseeing broadcast studio systems integration and implementation, researching technology to improve stations’ efficiency and productivity and sharing in the oversight of the stations’ day-to-day engineering operations. He will be based in Norfolk, Va.
Raytheon installs radar in Greenland
Raytheon Co., headquartered in Waltham, Mass., has completed the construction phase of the Upgraded Early Warning Radar (UEWR) at Thule Air Base, Greenland, signifying the facility’s readiness to begin hardware installation and integration. The U.S. Missile Defense Agency awarded the UEWR contract in April 2006 to Raytheon’s Integrated Defense Systems, which has a unit in Portsmouth. As the prime contractor, IDS will integrate new electronics, computer hardware and mission software to upgrade the existing facility at the remote site. Developed by IDS, the UEWR continues Raytheon’s 30-year heritage of phased-array radars, such as the Raytheon-developed PAVE PAWS and Ballistic Missile Early Warning System.
Textron subsidiary achieves rating
Hunt Valley, Md.-based AAI Services Corp., a subsidiary of an operating unit of Providence-based Textron Inc., has announced that its training and simulation division has achieved the Software Engineering Institute’s capability maturity model integration maturity level three compliance for systems engineering, software engineering and integrated product and process development.
More stores, restaurants coming to Freeport
Maine Gov. John Baldacci joined local officials and business representatives Thursday in breaking ground for an 118,000-square-foot retail-restaurant development in the center of downtown Freeport. The new Freeport Village Station, being developed by Berenson Associates of Boston, will also feature the town’s first parking garage, with more than 500 free spaces. Among the tenants of the new development will be Calvin Klein, Izod and Nike. And L.L. Bean plans to relocate its factory outlet store to the new site. Baldacci noted that tourism is Maine’s largest industry, attracting more than 3.5 million visitors a year. He said the new facility will be a big draw to the region and will encourage further development.
Dunkin’ adds policy director
Canton, Mass.-based Dunkin’ Brands Inc., the parent company of quick service brands Dunkin’ Donuts and Baskin-Robbins, has announced that effective March 31, Cicely D. Simpson will join the company in the newly created position of director of federal and state government affairs. Reporting directly to chief communications and public affairs officer Stephen J. Caldeira, Simpson will work closely with senior management to direct all federal and state government affairs activities, as well as the company’s corporate political action committee. She comes from the office of U.S. Rep. Jim Cooper, D-Tenn., where she was legislative director for three years. She has a juris doctorate from Pepperdine University’s School of Law and a bachelor of arts in political science from David Lipscomb University in Nashville.
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