Gasoline in R.I. drops for 6th straight week

The average price of gasoline in Rhode Island has dropped for the sixth straight week, bringing prices down to levels last seen in May. A survey of local dealers by the State Office of Energy Resources found an average price of $3.589 a gallon for regular, self-serve gasoline, down 6 cents from last week. The average price has now dropped 52 cents a gallon from its all-time high of $4.109 a gallon, reached on July 14. In Massachusetts, AAA Southern New England in its weekly survey reported an average price of $3.62 per gallon for self-serve, regular, the seventh consecutive week of lower prices, which have plummeted 46 cents since July 7. Prices in Massachusetts are 6 cents below the national average. AAA’s latest survey found a range in prices of 68 cents, from a low of $3.41 to a high of $4.09. Gasoline has been falling in response to declines in the price of crude oil futures over the past several weeks. Analysts have said that the price of crude has fallen in response to concerns that high oil prices combined with an economic slowdown in the United States will continue to curb demand for petroleum.

Fenway Sports Group hires NASCAR executive

Fenway Sports Group, a sports marketing agency that specializes in representation, sponsorship sales, event marketing and strategic marketing consulting, has appointed Brian Corcoran executive vice president of business development and motorsports. FSG is a wholly owned subsidiary of New England Sports Ventures, which owns the Boston Red Sox, Fenway Park and 80 percent of the New England Sports Network. Corcoran will oversee day-to-day operations for the company’s NASCAR division, which includes Roush Fenway Racing and Yates Racing, and is to develop new sponsor and revenue opportunities for both teams. He comes to FSG after spending the last six years as managing director of corporate marketing for NASCAR, the National Association for Stock Car Auto Racing.

Conn. lawmakers approve heating aid funds

Connecticut lawmakers on Saturday approved additional heating aid for many state residents, schools and social service agencies, and more help for people trying to cut their energy costs this winter. The first of two bills sets aside $14 million of an estimated $75-million state surplus for the Operation Fuel heating assistance program and for heating help for certain elderly residents, nonprofit organizations and schools. Operation Fuel offers emergency fuel assistance to families earning between 150 to 200 percent of the federal poverty level, or a family of four earning $31,800 to $42,400 yearly. For the first time, the charity also will be able to help families earning up to 100 percent of the state’s median income, or up to $93,821 for a family of four. A second bill provides more funds for furnace and boiler repair and replacement programs. It also sets up a new $35.5-million energy contingency account for future needs, including special help for households that use electricity to heat their homes.

Spherics Inc. going out of business

Joseph F. Finn Jr., assignee of the assets of Wellesley Hills, Mass.-based Spherics Inc., has announced that all pharmaceutical intellectual property will be sold at a sealed bid auction Oct. 10 for the benefit of creditors. Of major significance is SRx-501, an extended release formulation of Levodopa-Carbidopa that is a treatment for Parkinson’s disease, with global sales estimated at $250 million. The drug will be developed under Federal Drug Administration guidelines that the company estimates will lead to an approval submission in 2011. There is human “proof of concept” clinical data available. Persons interested in bidding must sign a confidentiality agreement obtained from Finn’s office — jffinnjr@earthlink.net or (781) 237-8840 — to receive a bid package.

Maine asks for federal help to fix roads

Maine Gov. John Baldacci has asked for federal help to repair road damage from heavy rain and storms earlier this month. Baldacci says Androscoggin, Cumberland and York Counties sustained nearly $2.9 million in damage, primarily to roads, during the nasty weather from Aug. 8 to 16. The towns of Freeport and Lebanon received almost $600,000 worth of damage in a single day. If granted, state and local governments could be reimbursed for 75 percent of the cost of repairing roads and other public property. Baldacci’s letter cited heavy rain, hail, winds and flash flooding over a month-long period. It was sent Monday to President Bush.

Stride Rite reacquires rights to PRO-Keds

Lexington, Mass.-based Stride Rite Corp. has reacquired its rights to the PRO-Keds brand from licensee and hip-hop mogul Damon Dash and will bring the brand back in-house as part of a new strategic direction for the PRO-Keds business. As part of the move, PRO-Keds will undergo an overhaul to focus on classic styles — with modern styling. The new styles, whose prices range from $50 to $80, will hit stores in November, with a wider collection available next spring. Stride Rite said it is targeting premium stores and plans to do an exclusive limited edition collection with key fashion boutiques within a few months. PRO-Keds was established in 1949 as a performance athletic footwear line primarily aimed at basketball.

Conn. AG wants meters to be reexamined

Connecticut Attorney General Richard Blumenthal has asked state regulators to reopen their investigation into the accuracy of Connecticut Light & Power’s meters. He told a Hartford Courant columnist that while the electric meters work most of the time, there have been instances where they’ve reported higher than actual usage. Blumenthal said he’s upset that CL&P, the state’s largest utility, has not told customers about the meter issues and how people should be aware that spikes in their usage could indicate a meter problem, according to the newspaper. CL&P insists that the vast majority of its meters are accurate and there’s an adequate safety net to find the five-tenths of a percent that are inaccurate. In February, the state Department of Public Utility Control ordered the utility to check electric meters within 10 days of receiving a complaint.

American Science gets $22-million order

Billerica, Mass.-based American Science and Engineering Inc., a developer of x-ray detection technology, has received a $22.2-million order from the U.S. government for 22 mobile backscatter x-ray screening vans. The contract includes operator training, spare parts, service and warranty. The company’s system, built into commercially available delivery vans, allows for immediate deployment in response to security threats. Its unique “drive-by” capability allows one or two operators to conduct x-ray imaging while the van drives past suspect vehicles or objects. A remote console is available for operating the system in stationary mode from a distance of up to 500 meters. Anthony Fabiano, company president and chief executive officer, said, “With this order, the U.S. government has added to its substantial fleet of [our vans] to secure checkpoints and borders from vehicle-borne explosives and other high-risk contraband.”

N.H. marine patrol receives nighttime camera

FLIR Systems, of Portland, Ore., has donated a thermal imaging camera to New Hampshire marine patrol officers for nighttime search-and-rescue missions. It has been installed on a boat used to patrol Lake Winnipesaukee at night. Marine Patrol Sgt. Joshua Dirth says the technology, which was once only available to the military, changes night into day and lets officers see islands, buoys, boats and even swimmers under most circumstances in the dark.