Holding company files for deregistration

BNS Holding Inc. (Pink Sheets: BNSSA.PK) said yesterday it filed a request with the U.S. Securities and Exchange Commission to deregister its shares of Class A Common Stock and Preferred Stock Purchase Rights and suspend its reporting obligations under the Securities Exchange Act of 1934. The company expects the deregistration to become effective within 90 days of the filing. As a result of the filing, the company’s obligation to file with the SEC certain reports and forms, including forms 10-KSB, 10-QSB and 8- K, will immediately cease. The board of directors determined that deregistering is in the overall best interests of the stockholders. Several factors were considered, including the elimination of costs associated with the preparation and filing of the company’s periodic reports and the elimination of increases in legal, audit and other costs associated with being a public company under the Sarbanes-Oxley Act.

Mass. casino opponents appeal to Patrick

Groups that oppose the expansion of gambling in Massachusetts are calling on Governor Patrick to visit Middleboro, where the Mashpee Wampanoag tribe wants to build a $1-billion casino on land it recently bought. Richard Young, head of an opposition group called casinofacts.org, says the governor has met with elected officials and representatives of the casino industry, but hasn’t met with “real people.” Young and others rallied at the State House yesterday, and delivered a letter to the governor’s office asking for a visit. Patrick, who is on vacation, is expected to announce his position around Labor Day. The protest comes as members of a task force of elected officials from southeastern Massachusetts met with administration officials.

Federal grant to boost R.I. computer security

The U.S. Department of Labor will provide grants to 22 states, including Rhode Island, and Puerto Rico totaling $6,008,840 to improve their unemployment insurance information technology security. Rhode Island will receive $300,000. “Unemployment insurance plays a critical role in helping workers persevere through tough times,” said Secretary of Labor Elaine L. Chao. “This funding will boost states’ efforts to secure UI systems against fraud and ensure that those in need receive assistance.” The awards will promote states’ use of the National Institute of Standards and Technology’s guidelines to identify security weaknesses in UI systems and achieve security certification and accreditation. The money will also be used to correct specific security concerns identified through Federal Information Security Management Act audits conducted by the Office of Inspector General in several states. For more information visit www.dol.gov/dol/topic/unemployment-insurance/index.htm.

Warwick software company wins contract

Simpatico Software Systems Inc., of Warwick, has announced a five-year, $5-million contract with the Texas Health and Health Services Commission to provide software support to the Texas Lone Star Electronic Benefits Transfer system. This contract also has the option of five one-year extensions. The state request for contract offer was effective Dec. 6, 2006, with a contract beginning Sept. 1. The Lone Star system functions like a debit card system which distributes state and federal benefits to about one million cardholders. This system processes more than 100 million transactions annually with a total value of more than $2.9 billion. Simpatico will provide software support and modifications, develop processing for the addition of new programs and assist as the state integrates newer technologies. Simpatico customers also include GTECH Corp., Banco Popular and Northrop Grumman Corp.

Blue Cross hosts corporate challenge walk

Blue Cross & Blue Shield of Rhode Island will hold its third annual Walk Rhode Island Corporate Challenge to inspire friendly competition among Rhode Island employers/employees and to help working men and women build team spirit and maintain healthy exercise habits. The winning team – that company with the highest percentage of participants – will have a $1,000 donation made on its behalf to the charity of its choice and an employee health and wellness workshop. Walk Rhode Island will take place on Saturday, Sept. 15, at Colt State Park in Bristol. The walks begin at 9 a.m., and participants have the choice of a 2-, 5- or 10-mile route. Companies actively engaging employees to participate include CVS, Brown University and the Providence Public Library (2005 Challenge Winners). Perspectives Corp., of North Kingstown, was the 2006 Challenge winner and is returning to defend its title.

Raytheon gets nod from Navy

Raytheon Co. has achieved a significant milestone in the Zumwalt Class destroyer program with the successful design review of the ship’s undersea warfare systems — collectively referred to as the integrated acoustic sensor suite — at the company’s Integrated Defense Systems Maritime Mission Center in Portsmouth. With the success, the Navy has given Raytheon approval to advance the acoustic sensor suite’s design into production. The system delivers critical capabilities by providing operators with a complete undersea warfare picture that includes the search for, and detection of, potential threats such as submarines, torpedoes, mines and unmanned undersea vehicles. The suite integrates all Zumwalt acoustic undersea warfare systems and subsystems, including the dual frequency bow array, towed array, towed torpedo countermeasures, expendable bathythermograph, data sensor, acoustic decoy launcher, underwater communications, and associated software.

Disaster loan deadline near for Mill fire

The U.S. Small Business Administration is reminding homeowners, renters, nonprofit organizations and businesses that less than one month remains to submit disaster loan applications for damages caused by a fire that occurred on July 21 at the Bernat Mill Complex in Uxbridge, Mass. The deadline to file an application for physical damage is Sept. 21. Those eligible to apply are homeowners, renters, nonprofit organizations and businesses that sustained physical damage in Worcester County and contiguous counties of Franklin, Hampden, Hampshire, Middlesex and Norfolk in Massachusetts and in contiguous Providence County in Rhode Island. Disaster victims may obtain an application by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through Friday from 8 a.m. until 9 p.m. and Saturday from 9 a.m. to 5:30 p.m. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, Texas 76155.

NSTAR utility rates expected to drop

NSTAR, the Massachusetts electric and gas utility that serves 81 communities including New Bedford and Worcester, says fourth-quarter electricity prices will soon be falling for some of the state’s largest businesses after the company secured contracts that are 17 percent lower than current rates. Under Massachusetts law, NSTAR buys electricity through a competitive bidding process on behalf of customers who receive their supply through the company’s Basic Service offering. More than a thousand of the largest customers in NSTAR’s service territory will be affected. The company says the decreases can be largely attributed to a drop-off in prices for oil and natural gas, fuels used to generate electricity. If approved by the Massachusetts Department of Public Utilities, the new rates will go into effect on Oct. 1.