Providence Business News articles from July 1999

Providence Business News archives from July 1999

RI shifts slowly to new economy.
July 26, 1999... Rhode Island is in the middle of all states, and last in New England, in its ability to adapt to a dynamic new economy that is driven by technological innovation, and based on information technology. Yet, the national report released late...

Business wary as celebration nears.
July 26, 1999... A good time, yes. A bonanza for area businesses, not necessarily. For four days in August, the Fall River waterfront is transformed, into a 7 massive Star Spangled celebration. This year the event runs from Wednesday, Aug. 11,...

The world is waiting for our business.
July 26, 1999... For years we've heard how we've entered a global economy. Yet, some economists suggest that many Rhode Island companies are not yet taking advantage of exporting opportunities. It becomes difficult for many small businesses to research...

State lacks strong commitment to fund higher ed.
July 26, 1999... PBN: We don't always equate a liberal arts education with the world of business or high finance. What is the market for today's liberal arts graduate? BROWNELL: It's interesting, but I hear from bankers and accountants. One banker, a...

Jim Rogers, Fall River institution, is closing shop.
July 26, 1999... In Fall River's downtown the place to go for the gossip, the political banter or sports predictions is Jim Rogers Cigar Store, a 43-year-old institution of sorts for the professionals and retirees who bring rife to the city's center during...

Providence Business News.
July 26, 1999... The Providence Business News executive poll is a weekly survey of 70 top business leaders throughout the state, representing small and large companies in a variety of industries and businesses. Our focus section this week deals with...

Advertising Ventures wins Cisco technology award.
July 26, 1999... While his wife Mary lay in a Women & Infant's Hospital room sleeping soundly, just a day after having their first baby, Stephen Rosa pulled his Apple Power Book and a digital camera from its hideaway underneath her bed. He snapped a picture...

Galleria gets new manager.
July 26, 1999... General Growth Management, Inc., a subsidiary of General Growth Properties and the largest third party manager of regional malls in the United States, has been selected to manage, market and lease the 1.2 million square foot Silver City...

Factory Mutual employees gather to mark merger.
July 26, 1999... "What's your favorite ice cream?" an employee recently asked Shivan Subramaniam, president and chief executive officer of the newly formed Factory Mutual Insurance Co. "Strawberry," he answered. Not the typical question most...

Arnold Lumber, Israel linked.
July 26, 1999... Arnold Lumber in West Kingston and Wakefield has come a long way since Carold "Kit" Arnold began his logging operation in South County three generations ago. Not only has it become among the largest lumber yards in the state, but it has...

Oracle expanding in Boston area.
July 26, 1999... BOSTON -- Oracle Corp. of Redwood City, Calif., the largest data-based software manufacturer in the country, has announced plans to expand its operations in the Boston area, locating in a campus area at a still-to-be selected site and add...

Polaroid reports quarterly profit.
July 26, 1999... CAMBRIDGE -- Spurred by the introduction of several new products, especially its disposable, single-use instant camera, Polaroid Corp. reported its first profitable quarter to quarter in three years, and the first report of profitability by...

Open Market acquires Future Tense.
July 26, 1999... BURLINGTON -- Open Market Inc. has agreed to acquire Future Tense Inc., a privately held provider of content management software for the Internet for $125.25 million in stock. Open Market will issue 7.2 million shares of its own common stock...

Massport approves airline for Hanscom.
July 26, 1999... BOSTON -- The board of directors for Massachusetts Port Authority has unanimously approved commercial air service from Hanscom Field, despite the objections of neighbors. The field is surrounded by Bedford, Concord, Lexington and Lincoln and...

Times to buy Abuzz Technologies.
July 26, 1999... NEW YORK CITY -- The New, York Times Co. has announced plans to buy Abuzz Technologies, Inc., of Cambridge, makers of Beehive, a knowledge management system. A Times spokesperson said the company planned to bring the Beehive system to the...

Convergence Pharmaceuticals sold.
July 26, 1999... BOSTON -- After four months of existence, Convergence Pharmaceuticals, Inc., founded by four researchers, was sold for $10 million in the stock of Ilex Oncology, Inc., the purchaser. Convergence's work has been in the development of advanced...

EG&G sells technical service unit.
July 26, 1999... WELLESLEY -- EG&G, Inc., maker of security and medical diagnostic products, has sold its technical services unit to Carlyle Group of Washington, D.C. for $250 million, the company announced last week. EG&G said was making the sale to...

Energy secretary plans regional power summit.
July 26, 1999... SAN FRANCISCO -- Bill Richardson, U.S. Energy Secretary, told state utility regulators here that he wanted to convene a 'Northeast regional power summit" to look for ways to avert the kinds of blackouts and near blackouts that have hit the...

4th of July convention called productive.
July 26, 1999... PROVIDENCE -- Apart from its spiritual and organizational benefits to its members and others, the General Synod of the United Church of Christ produced about $1.7 million in revenue for area hotels, restaurants, retailers and other businesses...

Jack Reed consolidates offices.
July 26, 1999... WASHINGTON, D.C. -- Sen. Jack Reed, D-RI, announced that because of scheduled renovations at the U.S. Courthouse in Providence, he is temporarily consolidating his offices at his Garden City location in Cranston. Senator Reed's Cranston...

RI unemployment rises slightly; jobs increase.(Brief Article)(Statistical Data Included)
July 26, 1999... PROVIDENCE -- Although the rate of unemployment in Rhode Island rose slightly from May to June, from 3.7 percent to 3.9 percent, the rate was still a full percentage point below the rate of a year ago, 4.9 percent. Over the last year the...

Venda Ravioli hailed by Yankee Magazine.(Brief Article)
July 26, 1999... PROVIDENCE -- Venda Ravioli, a fixture on Atwell's Avenue here, with more than 70 years experience preparing pasta in the Old World tradition, has been chosen to be featured by Yankee Magazine in its 1999 Yankee Magazine's Travel Guide to New...

URI launches Forensic Science Partnership.(Brief Article)
July 26, 1999... KINGSTON -- The University of Rhode Island has established a Forensic Science Partnership based on collaboration among the Rhode Island State Crime Laboratory at the URI College of Pharmacy, other colleges at URI, the state Department of...

Citizens goes on line.(Brief Article)
July 26, 1999... PROVIDENCE -- Citizens Financial Group has joined its two largest competitors, Fleet Financial Group and BankBoston in offering on-line banking through the Internet. Through what is called Citizens Bank Online, customers have access to their...

Cox addition of MediaOne segment approved.(Brief Article)
July 26, 1999... WEST WARWICK -- Cox Communications will increase its coverage of Cable TV subscribers in Rhode Island to 96 percent, as the result of a decision by the state Division of Public Utilities and Carriers. As the result of a transfer of properties...

Bank of Newport buys insurance agency.(Brief Article)
July 26, 1999... NEWPORT -- The Bank of Newport has purchased Braman & White, a Middletown insurance agency. Terms of the purchase were not disclosed. According to the report, Braman & White will operate as a subsidiary of the bank and continue to sell a full...

From TV news to video work to find stability.(Brief Article)
July 26, 1999... Company name: Public Eye Owner: Mary Maguire and James O'Halloran Number of Employees: Two Type of Business: Video productions Location: Norton, Mass. Year founded: 1995 Annual revenues: More than $200,000 When...

Will your business soon be obsolete?(Brief Article)
July 26, 1999... (Paul and Sarah Edwards are the authors of "Working from Home" and other titles on self-employment. They can be reached at their Web site: www.paulandsarah.com.) He'd carved out a successful niche in the executive recruitment field, and...

Rhode Island's property and casualty insurers.(Brief Article)
July 26, 1999... Rhode Island's property and casualty insurers (ranked by 1998 premiums collected) 1999 1998 Rank Rank Company President 1 1 Metropolitan Property and...

Rhode Island taxes competitive for travelers.(Brief Article)
July 26, 1999... When meeting planners scrutinize U.S. cities they consistently ask convention and visitors bureaus about their city's travel taxes. When they inquire about Rhode Island, they find competitive rates. Rhode Island's hotel tax is 12 percent,...

As business travel grows, companies trim costs.(Brief Article)
July 26, 1999... Business travel continues to be big business - but it is also a changing business, according to a study by the National Business Travel Association. With a weakened global economy, businesses are shying away from international travel,...

Warwick Intermodal Train Station on time--2001.(Brief Article)
July 26, 1999... The state has moved a step closer to building the Warwick Intermodal Train Station, which could be in operation by the end of 2001. Last Monday (July 19), the Rhode Island Department of Transportation received a Finding of No Significant...

Tracking their timeliness.(airlines)(Brief Article)(Statistical Data Included)
July 26, 1999... According to the U.S. Department of Transportation's "Air Travel Consumer Report," put out by the agency's Office of Aviation Enforcement and Proceedings, the following airlines account for 90 percent of domestic operating revenues: Alaska;...

RHODE ISLAND/stock watch.(Brief Article)(Statistical Data Included)
July 26, 1999... RHODE ISLAND Stock Div./ P/E 52 week 52 week Last Company name Symbol share ratio high low week Aerovox (O) ARVX -...

PERSONAL INVESTING.(Brief Article)
July 26, 1999... Andrew Leckey answers questions only through the column. Address inquiries to Andrew Leckey, "Successful Investing," 98 Henry St., Dept. 183, Brooklyn, N.Y. 11201, or by e-mail at successinv@aol.com. Q. We are a couple in our 30s. Can we...

CORPORATE.(Brief Article)
July 26, 1999... GTECH, the world's largest supplier and operator of computerized lottery systems, provides services and equipment for about 30 state and 50 international lotteries. The company is also active in supplying video lottery game systems equipment...

Fed fiddles while consumers spend.(Brief Article)
July 26, 1999... Gary Ciminero is Economic Advisor, RI House Policy & Research Office. He writes regularly for this newspaper. As anticipated, the Fed tightened monetary screws at the late-June meeting of the Open Market Committee (FOMC). By raising the...

Hopes high for tech center in Fall River.(Brief Article)
July 26, 1999... Designs for a planned $12 million technology and manufacturing center in Fall River, Mass., have yet to be completed, but hopes are already high at the University of Massachusetts Dartmouth. Administrators there expect the Advanced...

Home tours by Internet excite Realtors.(Brief Article)
July 26, 1999... Broker-associate Jim Kacewicz of REMAX 1st Choice in Cranston embraces new technology. So when he speaks of 'virtual' home tours, his latest Web site tool, he doesn't hide his enthusiasm. "I'm technically oriented," said Kacewicz, who is...

Value of on-line voting questioned by some.(Brief Article)
July 26, 1999... When Boston Red Sox shortstop Nomar Garciaparra inched ahead of New York Yankees shortstop Derek Jeter in the waning days of fan voting for the 1999 Major League Baseball All Star Game, Red Sax fans rejoiced. It didn't quite make up for...

Internet advice, counsel offered to business BX.NET chose its target market carefully.
July 26, 1999... The fact that BX NET is an Internet service provider here in Providence in and of itself is not t unique. The founders, however, are working on distinguishing themselves from the pack by forsaking dial-up consumers and concentrating on...

PacBell, GTE go head to head to reap Hollywood's digital harvest.
July 26, 1999... (Elizabeth Douglass can be reached at elizabeth.douglass@latimes.com) Hollywood is full of video producers, turning out everything from commercials and "X-Files" episodes to the dazzling special effect in feature films. But once their...

Log On America opts to grow by acquisition.
July 26, 1999... Rhode Island-based Log On America didn't waste any time in growing its operation since its highly successful public offering in April. The company recently purchased an Internet service provider in Maine, four-times the size of Log On...

Intel executive predicts growth of six-fold for Internet.
July 26, 1999... NEW ORLEANS (AP) -- The chief executive of computer chip maker Intel Corp. predicted that the number of Internet users will increase six-fold to 1 billion within five years, but Craig Barrett said the most important part of that growth will...

Trademark registration is a key to domain name protection.
July 26, 1999... Kevin McNeely is an attorney in the Providence office of Partridge, Snow & Hahn, LLP, and may be reached for comment at kjm@psh.com. On the web, a domain name can be an important asset for marketing and brand recognition. Rapid growth of...

Most computers in Russia unprepared for Y2K.
July 26, 1999... MOSCOW -- Only one-third of Russia's vital computer systems are ready for the millennium, and the government probably won't have the money to fix the rest in time, officials said. Finance Ministry officials told a Cabinet meeting recently...

Windmoeller & Hoelscher Corp.
July 26, 1999... Company: Windmoeller & Hoelscher Corp., Lincoln, R.I., phone: (401) 333-2770. Product: Ten-color Astraflex CI Flexographic Printing Press -- with this press Windmoeller & Hoelscher is now offering its customers even shorter setup and...

Philips Image-Optics Modules.
July 26, 1999... Company: Philips Image-Optics Modules, Slatersville; phone: (401) 762-3800. Internet address: www.philips-pcg.com for information about the following product, or www.philips.com for more information about the company. Product:...

Sprintout Internet Services.
July 26, 1999... Company: Sprintout Internet Services, Providence, R.I., phone: (401) 421-2264 Internet address: www.sprint-out.com Product: Content Integration Software. -- It is designed to provide professional business applications without the...

Siemens, Medical Systems, Inc.
July 26, 1999... Company: Siemens, Medical Systems, Inc., Electromedical Systems Division, Danvers, Mass., phone: (978) 907-6300 Product one: Infinity SC 9000XL patient monitor-It features a 12.1-inch screen, making it the first large screen, high acuity,...

DeskTop Labels.
July 26, 1999... Company: DeskTop Labels, Minneapolis, Minn., phone: (800) 241-9730. Internet address: www.desktoplabels.com Product: Eye Catchers -- A new line of brightly-colored labels. Colors include: awesome orange, gushing green, sunny yellow...

Year 2000 legal issues.
July 26, 1999... Allen Falcon, president, of Boston-based Horizon Information Group and Marijo McCarthy, Esquire of Widett and Mccarthy, P.C., are co-authors of "The Smaller Business Year 2000 Guide." The guide is sponsored by The Smaller Business Association...

Vector Software chosen N.E. subcontractor of year.
July 26, 1999... Vector Software of North Kingstown was recently selected as the U.S. Small Business Administration's (SBA) New England Small Business Subcontractor of the Year for 1999. The selection was made by a regional SBA procurement panel, which...

Y2K protection Act signature expected.
July 26, 1999... Peter V. Lacouture is a partner in the law firm of Nixon, Peabody, L.L.P. After many months of partisan debate, Congress has enacted and the President is expected to sign the Y2K Act (HR 775). The Act provides some modest protections for...

Area's retail wireless telephone dealers.(Statistical Data Included)
July 26, 1999... Area's retail wireless telephone dealers (ranked by number of employees) 1999 1998 Company Rank Rank 1 1 Cullco Corp. 1300 Park Ave., Cranston, RI 02910 (401)...

MARTIN JOINS FIELDING.
July 26, 1999... Roy E. Martin, III, a resident of Cranston, has joined Fielding Manufacturing as a design engineer. He is responsible for the concept and development of enhanced/optimized designs utilizing Pro/ENGINEER/MECHANICA simulation software. He...

BAECHTOLD APPOINTED TO CHERRY.
July 26, 1999... Fred Baechtold has been appointed senior product marketing engineer for Cherry Semiconductor's computer and industrial business unit. He will be responsible for working with the manufacturer's communications industry customers and developing...

THE FORMATION OF CRITICAL COMMUNICATIONS,LLC.
July 26, 1999... Craig M. Bass, president and CEO and specialist in videoconferencing and John E. Wiemann, vice president and computer network specialist have formed a partnership creating Critical Communications, LLC. The Portsmouth-based company provides...

NATIONAL GUARD DONATES COMPUTERS TO SCHOOLS.
July 26, 1999... Major General Reginald A. Centracchio, the adjutant general of Rhode Island and commanding general of the Rhode Island National Guard announced today that 65 computers will be donated to Rhode Island schools. Administrators from the...

BUSINESS/notes.(Brief Article)
July 26, 1999... ACCOUNTING Gregory Cabral, CPA, MST, has joined the firm of Snyder, Cavallaro & Co., Inc. as a partner. Prior to joining Snyder Cavallaro, he was the director of taxes and assistant controller at Brown & Sharpe Manufacturing Company. He...

Children and business benefit from Chamber gold outing.(Brief Article)
July 26, 1999... MAKE A WISH executive director Deborah St. Peter and Wish Child ambassador Colin Nagle accept a $5,000 check from East Greenwich Chamber of Commerce vice president and treasurer Craig Butzbach. The board of directors for the East...

Stepping up at Cayer Prescott Clune & Chatellier, LLP.(Brief Article)
July 26, 1999... Donna T. Caccia, CPA, MST; Robert J. Civetti, CPA; and Debra A. Mitchell, CPA, MST, MBA have been appointed managers at Providence-based accounting and business consulting firm Cayer Prescott Clune & Chatellier, LLP. Caccia, who has been...

Brian Cunha & Associates scholarships awarded.(Brief Article)
July 26, 1999... For the ninth consecutive year Brian Cunha & Associates has awarded college scholarships to graduating seniors of East Providence High School. With the addition of this year's awards, the firm has contributed a total of $25,000 in...

List of Used Computer Prices.(Brief Article)
July 26, 1999... List of Used Computer Prices July 19, 1999 Machine Buyers' Sellers' Close Change avg. bid avg. ask IBM ThinkPad 755C ...

The New Economy.(Brief Article)
July 26, 1999... A report by a Washington think tank on how well states are adapting to the New Economy has pointed out quite dramatically where Rhode Island is failing to transition from a manufacturing-based to a knowledge-based economy. Education,...

New focus for airport.(Brief Article)
July 26, 1999... Our much acclaimed T.F. Green Airport must not rest on its well-deserved laurels. T.F. Green has enjoyed record breaking passenger numbers in recent years and is no doubt a major reason that Rhode Island's tourism industry has provided such a...

Leadership can be attained by example, or, sometimes, through restraint.(Brief Article)
July 26, 1999... Harvey Mackay is author of The New York Times bestseller "Pushing the Envelope" (Ballantine Books). He can be reached at: e-mail -- Harvey@Mackay.com; Web site -- http://www.mackay.com; or Mackay Envelope Corporation, 2100 Elm St.,...

Advice from 'greatest coach': Family, Faith, Friends.(Brief Article)
July 26, 1999... Dale Dauten is an entrepreneur, speaker and author. His new book, on how great bosses and great employees find each other, is "The Gifted Boss" (William Morrow). Please write to him in care of King Features Syndicate, 235 E. 45th St., New...

JAPANESE AIRLINES SAY THEY'RE READY FOR YEAR 2000.(Brief Article)
July 26, 1999... Tokyo -- The top Japanese airlines have completed most of their year 2000 computer repairs and have a backup plan in case of problems, the companies said recently. Testing and repair of systems such as computerized reservations, flight...

PENTAGON COMPLETES TESTS.(Brief Article)
July 26, 1999... FAIRFAX, Va. -- The Pentagon is finishing what is believed to be the largest-ever simultaneous test of computer systems to make sure Year 2000 problems won't prevent delivery to the troops of everything from bullets to toilet paper. The...

Renaissance glow spreading.(Brief Article)
July 19, 1999... It's Wednesday afternoon at 5:20 upstairs at the Olneyville Boys and Girls Club, and Alan G. Hassenfeld looks worn out. Clutching a crumpled green apron in his hand, the Hasbro Inc. chairman relaxes, having just spent the afternoon...

Their 'dream house' saves energy.(Brief Article)
July 19, 1999... Michael Guertin and Susan Aitcheson's East Greenwich home isn't a "dream house" just because most days sunlight streams through French doors, across the kitchen's natural wood floor and dining table, straight to the sink. It also cams dream...

Clariant wins round on tariff in Congress.(Brief Article)
July 19, 1999... Clariant Corp., the worldwide producer of pigments seen on everything from National Geographic Magazine covers to the paint on a new Corvette, is celebrating a Congressional victory it hopes will help it expand its Coventry plant. But as...

'I see technology as important ... for us at DBR'.(Brief Article)
July 19, 1999... Name: Thomas Schumpert Occupation: Director, Rhode Island Department of Business Regulation Background: Most recently president and founder of TS Associates, Inc., a Boston management consulting practice. Former president of the...

Lowe's store expected to replace Warwick Tent.(Brief Article)
July 19, 1999... North Carolina-based Lowe's Home Improvement Warehouse, the second largest home improvement retailer in the world, appears to be inching its way toward Rhode Island. A representative of the company visited. Warwick two months ago to...

MetLife's acquisition to move it into top 10 list.(Brief Article)
July 19, 1999... With the planned acquisition of about $1.2 billion in business from The St. Paul Cos. of Minnesota, Warwick-based MetLife Auto & Home insurance stands poised to break into the top 10 personal lines insurers nationally. MetLife Auto &...

DEM OKs sewer project, but it will cost you.(Brief Article)
July 19, 1999... Culminating years of work, the state Department of Environmental Management has approved a $389 million sewer overflow project that will cleanse Narragansett Bay but eventually will cause sewer rates to double. DEM Director Jan H....

Earnings are up at area banks.(Brief Article)
July 19, 1999... Citizens Financial Group, Inc. reported last week net income of $57.6 million for the quarter ended June 30, a 15 percent increase over the earnings of $50.1 million reported at the same time last year. Net income for the last nine-month...

Outsourcing services business grows; RI joining in.(Brief Article)
July 19, 1999... A $25 billion market is waiting to be tapped, and a national commercial real estate services company which now has Rhode Island ties is moving aggressively to exploit it. Trammell Crow Corporate Services, a subsidiary of Dallas-based...

Stone & Webster gets $63 million pact.(Brief Article)
July 19, 1999... BOSTON -- Stone & Webster Inc. announced that it has been awarded a $63 million contact for design and engineering services in the construction of a bus repair and training center for the New York City Transit Authority. Stone & Webster will...

Putnam, Lee form partnership.(Brief Article)
July 19, 1999... BOSTON -- Putnam Investments and the Thomas H. Lee Co. have formed a partnership to offer institutional investors an alternative. Putnam is the fourth largest mutual fund manager, but its profits fell in 1998, and observers speculate that by...

Stride Rite gets new leadership.(Brief Article)
July 19, 1999... LEXINGTON -- James A. Eskridge resigned as chairman and chief executive officer of Stride Rite, Inc., and was quickly replaced by Myles J. Slosberg, the grandson of the company's founder. Slosberg, 62, was named interim chairman and chief...

Brooks Automation to acquire Smart Machines.(Brief Article)
July 19, 1999... CHELMSFORD -- Brooks Automation, Inc. announced that it has signed an agreement to acquire Smart Machines Inc. of San Jose, Calif., a manufacturer of vacuum and atmospheric process tool automation systems. Terms were not disclosed. After the...

Lycos trying on-line auctions to boost sales.(Brief Article)
July 19, 1999... WALTHAM -- Lycos, Inc. is moving into the on-line auction service in competition with its rivals, eBay and Yahoo and in an attempt to boost sales. Lycos announced in May that it was purchasing a stake in FairMarket Inc., an on-line...