Providence Business News articles from February 2000, page 2

Providence Business News archives from February 2000

GTECH agrees to acquire On-Point Systems.
February 21, 2000... GTECH Holdings Corporation, and On-Point Technology Systems, Inc. recently announced that they have entered into a definitive agreement under which GTECH has agreed to acquire, in a merger transaction, 100 percent of the issued and...

CNET News.com.
February 21, 2000... Without waiting for interactive TV and other promised technologies, a growing number of consumers are surfing the Internet and watching their TVs at the same time, according to a recent survey. Industry research firm Dataquest said that 27...

PBN Editor gets N.E. Press Assn. Award.
February 21, 2000... Franklin S. Prosnitz, editor of the Providence Business News, was among several journalists honored at the Park Plaza in Boston last Saturday night, as part of the New England Press Association's annual Better Newspaper Contest. In a...

State takes over Taunton insurance company.
February 21, 2000... TAUNTON -- Trust Insurance has been taken over by the state insurance commissioner in an effort to avoid the company's liquidation. Asserting that the company's 200,000-policy holders would be protected, the commissioner's announced objective...

Corning to acquire NetOptix in $2 billion deal.
February 21, 2000... STURBRIDGE, Mass. -- Corning Inc., the world's leading supplier of glass fiber, has ventured further into the world of optical network technology with the acquisition of NetOptix Corp. and new deals with Samsung Electronics and British...

W.R. Grace knew insulation contained asbestos.
February 21, 2000... BOSTON -- W.R. Grace and Co. knowingly sold attic insulation that contained asbestos for more than 20 years and never alerted the public, fearing that a warning label might hurt sales, according to the Boston Globe. The Globe said it...

Suddenly, Boston's no longer 'The Hub'.(Brief Article)
February 21, 2000... BOSTON -- There's a move afoot to extend Massachusetts beyond Boston. That's right, outside the city once referred to as the "Hub of the Universe," the state's long-ignored outer regions are beginning to demand attention. Sixty percent...

Spaces in line going for $500 in Edgartown.(Brief Article)
February 21, 2000... EDGARTOWN -- Building permits in Edgartown are so precious that people are now standing in line for as long as five days to get one. But not for themselves. They're being hired, for as much as $500 a day, to hold spaces in line for one of the...

Mexican firm to buy energy systems from SatCon.(Brief Article)
February 21, 2000... CAMBRIDGE -- SatCon Technology Inc. announced it had reached agreement to sell 100 of its flywheel energy systems for $2.5 million to TLER Associates, a Mexican housing developer. TLER would use the devices to provide backup power to...

Ocean Spray gets new CFO.(Brief Article)
February 21, 2000... WAREHAM -- Ocean Spry Cranberries continued its reorganization with a Pillsbury tone as the company president and chief executive Robert Hawthorne appointed a former colleague at Pillsbury, Timothy Chan as chief financial officer. Chan, 48,...

Clinton's budget tags $512 million for Raytheon.(Brief Article)
February 21, 2000... WASHINGTON -- Programs at Raytheon Systems in Portsmouth have been allocated $512 million under the budget for Fiscal Year 2001 submitted to Congress by President Clinton. The proposal involves 24 new or existing programs for the Navy,...

A.T. Cross-plans layoffs in light of losses.(Brief Article)(Statistical Data Included)
February 21, 2000... LINCOLN -- With its sales continuing to decline, A.T.Cross Co. announced plans to reorganize the company, a tactic that would include layoffs. A company spokesman said there would be a reduction in employees, without specifying the number....

Community Health Centers dispute resolved.(Brief Article)
February 21, 2000... PROVIDENCE -- After a month-long strike at Providence Community Health Centers, the union representing 85 health care workers reached agreement with the city on a new two-year contract. The workers, represented by District 1199 of the New...

AFL-CIO opposes proposed merger of hospitals.(Brief Article)
February 21, 2000... PROVIDENCE -- The state AFL-CIO announced that it opposes the proposed merger of Lifespan and Care New England, the two largest hospital networks in the state. The AFL-CIO includes about 235 local unions and 80,000 workers and is a major...

KVH alleges patent infringement in law suit.(Brief Article)
February 21, 2000... MIDDLETOWN -- KVH Industries has filed suit in U.S. District Court in Rhode Island against in-motion satellite antenna competitor Datron/Transco, Inc. for alledgedly infringing a KVH patent. KVH is asking the court to prevent Datron from...

Johnston businesses fined in labor dispute.(Brief Article)
February 21, 2000... JOHNSTON, R.I. -- Three Johnston businesses accused of failing to pay adequate overtime have been fined and ordered to compensate 70 workers. The employees involved did not speak fluent English and were not aware of their rights, according to...

DEPCO to pay off lingering debt.(Brief Article)
February 21, 2000... PROVIDENCE -- The lingering debt from the state's banking crisis will finally be paid off this summer. The Rhode Island Depositors Economic Protection Corp. -- known as DEPCO -- expects to make the final $41.7-million payment on the...

N. E. entrepreneurs attract $1.6 billion.(Brief Article)
February 21, 2000... BOSTON (AP) -- Venture capitalists poured nearly $1.6 billion into 169 New England companies during the fourth quarter of 1999, with software and Internet services for business leading the way. Internet-related investments comprise 63.2...

Future is here! On Plainfield Pike.(Brief Article)
February 21, 2000... Behind an unmarked storefront in a strip mall along an industrial stretch of Plainfield Pike in Cranston, the future of office furniture can be found. There a line of futuristic-looking computer workstations sit bathed in a gentle light...

OSHA presses ahead on workplace standards.
February 21, 2000... U.S. Occupational Safety and Health Administration officials are charging ahead with plans to create a new standard for workplace ergonomics, despite strong opposition from certain business groups. Hearings on OSHA's proposed rule are...

Painted walls, ceramics enliven office environment.(Brief Article)
February 21, 2000... Creating the right office environment for both employees and visitors has literally become a work of art. Whether it's painting the walls with bright pastels, hanging neon signs in the lobby, or adorning company walls with the work of...

Give the workers what they want, advisors say.(Brief Article)
February 21, 2000... Since 1983, The Resource Alliance, a Toronto-based organization, has worked to plan both complex and modest working environments. The company has procured and installed nearly $300 million of business furniture since its inception. Its...

Russians like Yankee buildings.(Brief Article)
February 21, 2000... GILLETTE, Wyo. (AP) -- A group of Russian businessmen is studying the American., construction industry with a firsthand look. Some-of the 11 men who arrived for a nine-day visit said there are differences between new buildings in Russia and...

Area's interior design firms.(Statistical Data Included)
February 21, 2000... Area's interior design firms (ranked by amount of space designed in 1999) 2000 1999 Rank Rank Firm 1 1 The Robinson Green Beretta Corporation 50 Holden St., Providence, RI 02908...

RHODE ISLAND/stock watch.(Statistical Data Included)
February 21, 2000... RHODE ISLAND/stock watch Stock Div./ P/E 52 week 52 week Last STOCK symbol share ratio high low week Aerovox (O) ARVX ...

PERSONAL INVESTING.(Brief Article)
February 21, 2000... Q. What is the long- and short-term outlook for the stock of Occidental Petroleum Corp.? -- N.C., Bridgeport, Conn. A. Higher oil and gas prices have provided a boost, though no one is sure they will continue to rise or hold steady longer...

Blue Cross seeks public's views on health care.(Brief Article)
February 21, 2000... Results will be released from September to December Blue Cross & Blue Shield of Rhode Island officials are asking Rhode Islanders to tell them what they think about health care in the Ocean State. The health insurer will survey...

BUSINESS notes.(Brief Article)
February 21, 2000... ACCOUNTING Tammy J. Duxbury, a manager in the tax department of the Providence accounting firm of Piccerelli, Gilstein & Company, LLP, has been awarded the Personal Financial Specialist designation by the American Institute of Certified...

RI Health Care Association announces new officers.(Brief Article)
February 21, 2000... Rhode Island Health Care Association installed new officers and board members last month at the RIHCA Installation Brunch. The officers for 2000 are James V. Flanagan of Horizon Bay Senior Care, president; Richard J. Miga of Brentwood Nursing...

Three join law firm's employment practice.(Brief Article)
February 21, 2000... Providence law firm Adler Pollock & Sheehan has added attorneys Robert G. Sullivan, Michael D. Chittick and Joshua A. Ulman to the firm's labor and employment group. All three attorneys most recently practiced at the Providence firm of...

American dream?(Brief Article)
February 21, 2000... It used to be -- and maybe still is -- that the American dream was to earn enough money to buy a comfortable home in the suburbs. Our parents and grandparents settled and developed cities, and their children and grandchildren left the cities...

Auto tax reborn.(Brief Article)
February 21, 2000... We're not surprised by Gov. Almond's proposal to freeze the phase-out of the automobile property tax in favor of additional spending for education. Improving our education system, from pre to graduate school is our state's number one...

'Big Time' is wherever you are; believe that, and it will be.(Brief Article)
February 21, 2000... Everybody is inspired by the story of NFL and Super Bowl MVP Kurt Warner. It's hard to think of a better rags to riches story, in sports, in entertainment, in business, anywhere. Warner started at quarterback only in his senior season at...

In sales, it's time for adjustment, preparation.
February 21, 2000... "Salespeople are scared." This is how one executive describes, the dark shadow cast by the Internet across the careers of those in sales. There's every reason to be frightened. A radio commercial for an insurance Web site features a "gleeful"...

Era of high-speed trains begins, almost.(Brief Article)
February 14, 2000... Waiting for Acela Six passengers stand on the train platform quietly smoking their weight from one leg to the other and back. In the cavernous tunnel below Providence Station they wait under the buzzing orange security lights to catch...

URI offers relief for medicine anxieties.
February 14, 2000... Sometimes, all people want to know when they call the Pharmacy Outreach Program hotline at the University of Rhode Island is whether they can take their medicine with food, or if they can double their dose in the afternoon if they forgot to...

One-stop process nears for communicating.
February 14, 2000... Americans communicate at the dawn of the 21st century a lot like our grandparents ate in the early 1900s. Sure, we have a vast electronic library at our fingertips, thin mobile telephones stuffed in our shirt pockets and 70 channels of...

United Health CEO remains optimistic.(Interview)
February 14, 2000... Name: Budd Fisher Position: President and chief executive officer, United healthcare of New England Background: Chief Executive Officer, Unitedhealthcare of Kentucky, 1995 to l998 Education: Bachelor of Arts Degree in...

Almond's speech draws predictably partisan response.(Brief Article)
February 14, 2000... According to this week's Providence Business News Executive Poll, Gov. Lincoln Almond's "State of the State" address last Thursday evening, Feb. 3, failed to deliver a knockout blow -- while some respondents considered it a fair or even good...

Correction.(Brief Article)(Correction Notice)
February 14, 2000... An article in last week's Focus section about Real Estate Investment Trusts failed to fully identify the spokesman of the National Association of Real Estate Investment Trusts. His name is Jay Hyde. In our list of computer networking...

Clinton's defense proposals bodes well for region.(Brief Article)
February 14, 2000... President Clinton's latest federal budget proposal appears to contain good news for Rhode Island's defense industry, including an additional $17 million for the Third Rail at Quonset Point/Davisville. The spending plan - which must be...

It's February, but at McCoy they're talking baseball.
February 14, 2000... It may be a chilly Thursday afternoon in February, but in the clubhouse at McCoy Stadium in Pawtucket, the talk is of fastballs, home runs and a second baseman named David Eckstein who has been tearing up the lower minor leagues. It is...

Narragansett gets closer to rate plan acceptance.(Brief Article)
February 14, 2000... Narragansett Electric Co.'s plan to bring Rhode Island closer to one set of electric rates got another boost last week when the company settled its differences with The Energy Council of Rhode Island. Narragansett Electric last month...

Bell Canada invests in Lycos.(Brief Article)
February 14, 2000... WALTHAM -- BCE, Inc.'s Bell Canada unit is investing $45.9 million in Lycos, Inc. give its 10 million Canadian customers better access to Lycos products, such Gamesville.com and Internet search engines, e-mail, on-line city guides and a...

iBasis teaming with Cisco in 'mailbox' venture.(Brief Article)
February 14, 2000... BURLINGTON -- iBasis, Inc., which delivers a variety of voice calls via Internet sty networks and Cisco Systems, Inc. are jointly producing a new line of "unified mailboxes which will handle electronic mail, faxes, wireless and land-line...

Berkshires bridge Internet service gap.(Brief Article)
February 14, 2000... PITTSFIELD, Mass. -- Unwilling to see their rural area stuck in the slow lane, businesses in Berkshire County have put together their own deal to bring high-speed Internet access to the state's western mountains. And they say prices will be...

Protest rising over foreign students.(Brief Article)
February 14, 2000... WASHINGTON -- When Hewlett-Packard Co. looks for workers to develop its next printer or software package, the Palo Alto, Calif., firm looks for top graduates from American colleges. But in some of the key disciplines, half of the master's and...

Hang up and drive: officials mull car phone bans.(Brief Article)
February 14, 2000... PHILADELPHIA -- Patricia Pena once gave little thought to the dangers of using a cellular telephone on the road before an inattentive driver broadsided her vehicle and left her 2 1/2-year-old daughter dead. Now it's all the Bucks County woman...

Excelergy releases new billing software.(Brief Article)
February 14, 2000... CAMBRIDGE, Mass. -- Excelergy Corporation, of Cambridge, maker of soft- ware technology for the deregulated energy industry, has released the newest version of its advanced billing and customer care software, ABP (Advanced Billing Platform)...

Boston firm seeks to compete with Cox Cable.(Brief Article)
February 14, 2000... American Broadband Inc. of Boston wants to bring its own cable lines to Rhode Island. The fledgling company -- it was founded last October -- has filed papers with the Rhode Island Public Utilities Commission asking for permission to...

Sports is the topic for 20th Brown/Journal conference.(Brief Article)
February 14, 2000... Some of the nation's premier sports journalists, commentators and athletes will be featured speakers during "Sport: Is It Only a Game?" the 20th annual Brown University/Providence Journal Public Affairs Conference, which runs from Sunday,...

E. Gordon Gee resigns Brown Post for Vanderbilt.(Brief Article)
February 14, 2000... E. Gordon Gee, the 17th president of Brown University, has resigned the Brown presidency and accepted an appointment as chancellor of Vanderbilt University in Nashville, Tenn. His appointment, effective Aug. 1, was announced Feb. 7 by...

In a high tech world, demand for ITs grows.(Brief Article)
February 14, 2000... Computer engineers. Computer support specialists. Database administrators. Systems analysts. Securities salesmen. The fastest-growing occupations of the future mostly will be high-technology positions or require a high degree of...

A proposal on cost of medicine for seniors.(Brief Article)
February 14, 2000... Health care is the number one domestic issue facing all Americans. Its economic, social and moral implications reach far and wide. Yet, despite prosperous economic times, some Americans are being left behind in a wake of prosperity and a...

Hard work, spirit make Yawgoo fun.(Brief Article)
February 14, 2000... Company: Yawgoo Valley Ski Area and Water Park Owners: Max and Patti deWardener Location: Yawgoo Valley Road, Exeter Employees: 60 full-time, plus 100 ski instructors Founded: 1964 Annual Revenues: WND Max...

Women's Summit to be held at Bryant College.(Brief Article)
February 14, 2000... Bryant College will explore the issues, ideas and agendas that they believe will help women ensure a successful business career, financial security, and personal growth at the third Annual Women's Summit, scheduled for Wednesday, March 29...

RI Women's Network offers a support system.(Brief Article)
February 14, 2000... Sitting on the giant oriental rugs of Stevens Oriental Rugs of Rhode Island, Betsy Stevens and Debby Mullen rarely come up for air when talking about the Providence Chapter of the Rhode Island Women's Network. Stevens, the group's new...

Boston to get more Chicago air links.(Brief Article)
February 14, 2000... BOSTON -- Low-cost, single-class American Trans Air (ATA) and U.S. Airway's low-cost MetroJet service will link Logan Airport and Midway Airport in downtown Chicago. ATA, the 11th largest carrier in the country will begin service, its first...

Reebok reports profit, cites cost-cutting.(Brief Article)(Statistical Data Included)
February 14, 2000... STOUGHTON -- Reebok International, Inc. has reported a fourth-quarter profit of $426,000, or 1 cent a share, compared with a $7.09 million loss, or 13 cents a share in the same quarter a year ago. A spokesman for the sneaker and sportswear...

New format for Boston Globe.(Brief Article)
February 14, 2000... BOSTON -- The Boston Globe, New England's largest newspaper, implemented a format change that will ultimately result in a smaller page. The Globe is converting from 54-inch paper to less expensive 50-inch paper. "The paper is much more easy...

Filene's Basement agrees to rescue.(Brief Article)(Statistical Data Included)
February 14, 2000... BOSTON -- Filene's Basement Corp., which has been operating since last August under Chapter 11 bankruptcy protection, has agreed to be acquired by Value City Department Stores, Inc. Columbus, Ohio. The Boston Globe reported that Value City...

Andover.net being acquired by VA Linux Systems.(Brief Article)(Statistical Data Included)
February 14, 2000... ACTON -- Andover.net, a producer of Linux-related Internet sites, is being acquired for about $1 billion by VA Linux-Systems, Inc. of Sunnyvale, Calif., the Boston Globe reported. VA Linux makes Linux-based computer systems. It makes...

Massport reports increase in business.(Brief Article)(Statistical Data Included)
February 14, 2000... BOSTON -- The Massachusetts Port Authority reported that the city's port had 7.8 percent increase in container tonnage, including a 14 percent increase in container exports. The authority reported that the number of containers exported...

Slade's Ferry reports 26 percent profit hike.(Brief Article)(Statistical Data Included)
February 14, 2000... SOMERSET -- Fourth quarter profits at Slades Ferry Bancorp rose 26 percent to $949,349 in the last quarter, or 26 cents a diluted share, the bank holding company reported. The company is the parent of Slade's Ferry Bank serving southern New...

Staples International has new president.(Brief Article)
February 14, 2000... FRAMINGHAM -- Staples, Inc. has announced the appointment of Jacques Levy to be president of Staples international. He will succeed Jack C. Bingleman who will retire this summer. Levy had been employed at the Walt Disney Co. He reportedly has...

Fearing dot-com lure, firms raise salaries.(Brief Article)
February 14, 2000... BOSTON -- Here's one more reason for the rest of the world to tell lawyer jokes: Attorneys at one Boston firm got 40 percent raises last week. Timothy McGuire partner at Testa, Hurwitz & Thibeault, said the technology law firm doled Out the...

Hasbro has top two selling toys.(Brief Article)
February 14, 2000... PAWTUCKET -- Although Mattel, the world's largest toy manufacturer, has 11 of the top 20 selling toys in the United States in December, Hasbro, Inc. retained the top two spots with its Furby Babies and Pokemon Fossil Booster playing cards....

Breakfast club begins at Westin Hotel.(Brief Article)
February 14, 2000... PROVIDENCE -- The Downtown Club has been established by the Westin Providence hotel in conjunction with the Great Providence Chamber of Commerce as a daily breakfast and meeting ground at the hotel's Agora restaurant. Membership in the club...

LOA, Paolino Properties form Internet link.(Brief Article)
February 14, 2000... PROVIDENCE -- Log On America and Paolino Properties, Inc. have reached an agreement under which LOA will be the exclusive provider of Internet and telecommunications services for all new Paolino developments, and would be the preferred...

APC acquiring Colorado Web firm.(Brief Article)
February 14, 2000... WEST KINGSTON -- American Power Conversion has agreed to acquire a Colorado-based company that enables customers to research prices of gas and electricity providers. The company, energyOn.com gathers and makes available comparative prices for...

Mr. Potato Head -the statue--seeks sponsors.(Brief Article)
February 14, 2000... PAWTUCKET -- Long a resident in households where children reside, Mr. Potato Head is being offered for public display as a six-foot statue. Mr. Potato Head is prepared to adapt himself to community needs or expectations as reflected in the...

SEA CORP awarded Navy contract.(Brief Article)
February 14, 2000... MIDDLETOWN -- Systems Engineering Associates Corporation (SEA CORP) has won a five-year, $13.8-million contract from the Naval Undersea Warfare Center to perform technical and engineering services for sonar system research, development,...

Most hospitals lost money last year.(Brief Article)(Statistical Data Included)
February 14, 2000... PROVIDENCE -- Ten of the state's community and regional hospitals lost more than $55 million last year, according to a survey by The Providence Sunday Journal. Of the three hospitals that turned profits, one earned $28,307 which is equivalent...

No buyers found for North Providence mill.(Brief Article)
February 14, 2000... NORTH PROVIDENCE -- The Worcester Co. Mill appears to be the latest casualty in the state's troubled manufacturing sector. No buyers have come forward since the factory closed last year and laid off 580 workers. A court-appointed receiver has...

Competition crowded for top post at Leadership Rhode Island.(Brief Article)
February 14, 2000... To date, at least 60 individuals have applied to become the next president at Leadership Rhode Island. Anna Prager, a former member of LRI's board of directors now serving as the organization's interim president, said a search committee...

Landmark seeks Beth Israel link.(Brief Article)
February 14, 2000... Landmark Medical Center has announced plans to team up with Boston's Beth Israel Deaconess Medical Center to establish a regional cardiac care center at the Woonsocket Unit for the treatment of heart disease. The proposed program will...

Ed Liston of CCRI looks back, ahead.(Interview)
February 14, 2000... Name: Edward J. Liston Occupation: President of the Community College of Rhode Island Background: At CCRI for 22 years, Liston has also served on the Board of Directors of the American Association of Community Colleges, and as...

Student workers earn J&W MBAs at TACO plant.(Brief Article)
February 14, 2000... When Brett Zerba earned a Bachelor of Science in mechanical engineering from the University of New Hampshire in 1981, he figured that within a couple of years he would be well on his way to securing an MBA. Nearly 20 years later, Zerba...

Treasurer looks to improve college savings program.(Statistical Data Included)
February 14, 2000... Seeking to make Rhode Island's college savings program more competitive with those offered by other states, state Treasurer Paul J. Tavares is pushing state legislators to improve the tax incentives the program now offers. He also plans...

College Planning Center at mall catches on.(Brief Article)
February 14, 2000... "Nowhere else in the world can you fill out your financial aid forms and then get an ice cream on your way out," said David DeBlois, director of the College Planning Center of Rhode Island. Located across from Newport Creamery at Warwick...

Katharine Gibbs updates, keeps moving ahead.(Brief Article)(Statistical Data Included)
February 14, 2000... Since its doors first opened in Providence in 1911, the Katharine Gibbs School has been at the forefront of educating skilled workers. Opened as a secretarial school for women when the job of an executive assistant was primarily for men,...

Area's Private Secondary Schools.(Brief Article)(Statistical Data Included)
February 14, 2000... Area's Private Secondary Schools (ranked by high school enrollment) 2000 1999 High school Rank Rank Name ...

RHODE ISLAND stock watch.(Statistical Data Included)
February 14, 2000... RHODE ISLAND stock watch Stockwatch Index February 8, 2000 1273.52 UP 56.07(+4.61%) Dow Jones 10957.60 UP 83.9 (+0.76%)...

PERSONAL INVESTING.(Brief Article)(Statistical Data Included)
February 14, 2000... Q. Last year, I bought the "Internet incubator" stock CMGI Inc. It has declined in value about 20 percent. What do you think of its long-term prospects? -- E.C., Woodland Hills, Calif. A. The outlook is promising. For example, CMGI's...