Providence Business News articles from July 2000

Providence Business News archives from July 2000

Hospital merger talks at critical stage.
July 31, 2000... Atty. Gen. Whitehouse sees signs of diminishing interest Nearly two years after Care New England and Lifespan first started their quest to create a $1.4 billion in-state hospital network, Rhode Island's top lawyer has said hospital...

Hasbro's quarter a weak exception.
July 31, 2000... Several area public companies were reporting robust second quarter sales and profits, much of it based on the proliferation of technology-based businesses, innovation, and greater productivity. The one exception is Hasbro, the giant...

Local agency protests state travel award.
July 31, 2000... A local travel agency that for years had been booking state emploees' travel has lost the contract to a Philadelphia-based Internet travel company, and is now claiming the bidding process was based on erroneous information. Donovan...

On hospital merger, lead paint suit.
July 31, 2000... Name: Sheldon Whitehouse Position: R.I. Attorney General Background: Special Assistant Attorney General, 1985-1990; Executive Counsel to Gov. Bruce Sundlun, 1991-92. Director of the Department of Business Regulation, 1992-94. U.S....

As Alzheimer's spreads, research raises hopes.
July 31, 2000... Fresh from a trip to Washington, D.C. earlier this month far the World Alzheimer's Congress, Dr. Stephen Salloway, chief of neurology and director of the memory disorders program at Butler Hospital in Providence, is gripped with a commodity...

Boys and girls choose paths to work apart, report says.
July 31, 2000... The U.S. Department of Labor says nearly half of all 12-year-olds in the country have some employment experience, but right from the start, boys and girls go into different lines of work. The information comes from the department's just...

Area banks report strong second quarter revenues.
July 31, 2000... As Sovereign and FleetBoston last week announced the completion of the conversion of the remaining branches to Sovereign Bank New England, a number of area publicly held banks were reporting strong second quarter revenues and earnings, with...

Basketball Hall of Fame plans expansion.
July 31, 2000... SPRINGFIELD -- The Basketball Hall of Fame, already committed to the addition of a 90-foot-high dome that will resemble a basketball, have announced that developers will add a 120-room Hilton hotel to the plans. The $103 million dollar...

Nortel announces jobs expansion in Bay State.
July 31, 2000... WILMINGTON -- Nortel Networks Corp., a Canadian company, announced that a planned major expansion of its optical network production that included building new facilities in this community as well as Billerica and staffing them with 1,800...

Polaroid partners with Japanese firm.
July 31, 2000... CAMBRIDGE -- Polaroid Corp. plans to form a partnership with Olympus Optical Co., one of the largest digital camera makers in Japan, to produce a digital camera with a built-in instant film-pack printer to sell for about $800, the Boston...

Newly formed Internet firm gets Fleet backing.
July 31, 2000... BOSTON -- FleetBoston Financial Corp. announced that it is providing $300 million in financing to Elantic Communications, Inc., a new East Coast local phone and Internet service company formed from the merger of Conversant Communications LLC...

FleetBoston completing divestiture.
July 31, 2000... BOSTON -- FleetBoston. Financial has completed segment of its divestiture of branches and assets with its third round of sales and transfers with the opening last Monday of 96 branches of Sovereign Bank of New England in Massachusetts along...

Nantucket bank bought by Seacoast Financial.
July 31, 2000... NEW BEDFORD -- Seacoast Financial Services Corp. has agreed to purchase Home Port Bancorp for about $68.5 million, Bloomberg News reported. Home Port is the holding company for Nantucket Bank. Bloomberg quoted Kevin Champagne, Seacoast's...

Steinway agrees to buy Indiana company.
July 31, 2000... WALTHAM -- Steinway Musical Instruments, whose products include the famous Steinway piano, has agreed to acquire United Musical Instrument Holdings, Inc. of Elkhart, Indiana. Dow Jones News service reported that Steinway valued the...

New Bedford adds to loan pool.
July 31, 2000... NEW BEDFORD -- The New Bedford Economic Development Council is using an innovative technique to generate a new $500,000 loan pool for a still-to-be named partner. The technique which is reportedly new to the South Coast region involves...

Liberty Financial.
July 31, 2000... Boston (Bloomberg) -- Liberty Financial Cos., the financial services arm of Liberty Mutual Insurance Co., said second-quarter earnings rose 6 percent as strong annuity sales offset a slumping asset-management business. Boston-based Liberty...

Bernard Golf splits with Mashantuckets.
July 31, 2000... RICHMOND -- Bernard Golf, a subsidiary of Bernard Investments Ltd. of Coventry, R.I., announced that it had sold its interest in Foxwoods Golf & Country Club at Boulder Hills in this town to Mashantucket Pequot Tribal Nation, its former...

R.I. job growth reaches 6,600 in one year.
July 31, 2000... PROVIDENCE -- As Rhode Island s unemployment rate continues to decline, the state Department of Labor and Training reported that jobs in the state grew by 6,600 between June 1999 and June2000: Rhode Island's unemployment rate remained below...

Johnston gets $500,000 for Pocasset study.
July 31, 2000... WASHINGTON, DC - A flood plain management study for the Pocasset River in Johnston got a $500,000 boost from the Natural Resources, Conservation Service. That amount has been included; in the Agriculture, Rural Development and Related...

Providence Energy, Southern merger advances.
July 31, 2000... PROVIDENCE -- The Federal Trade Commission has approved early termination of the waiting period for Southern Union Company's proposed acquisition of the providence Energy Corporation, the two companies announced simultaneously. Wiuth that...

$250,000 appropriated for museum exhibit.
July 31, 2000... WASHINGTON, D.C. - A Senate appropriations bill will include $250,000 for the Heritage Harbor Museum in Providence to gather, organize and prepare oral and written histories of New England's major Native American tribes. The bill has passed...

KVH announces satellite system for Europe.
July 31, 2000... MIDDLETOWN - KVH Industries, Inc. announced it has developed a satellite TV system, plus music and broadcast Internet date for recreational vehicles, coaches and buses traveling in Europe. Called Trac Vision L3, the is said to require no...

Textron wins bid in Turkey for helicopters.
July 31, 2000... PROVIDENCE - Textron won the inifial round of bidding and negotiations to supply 145 attack helicopters to Turkey, the company and the Turkish government announced jointly. If negotiations between Turkey and Textron's Bell helicopter Division...

Web site offers hospital rating data.
July 31, 2000... PROVIDENCE - Accreditation and evaluation information on Rhode Island hospitals is now available to the public through the Rhode Island Department of Health's Web site. Working with the Joint Commission on Accreditation and Healthcare...

Personal interest a non-factor if you choose the right mutual fund.
July 31, 2000... NEW YORK -- You'd think a $7 trillion behemoth like mutual funds would get more respect. In the last 20 years they've transformed themselves from pipsqueak to powerhouse in the U.S. financial system, stealing a march on banks, insurance...

TIFFANY & CO.
July 31, 2000... 727 Fifth Ave. New York, NY 10022 (212) 755-8000; fax (212)605-4465 Web site: www.tiffany.com Tiffany & Co. designs, manufactures and retails fine jewelry, timepieces, sterling silverware, china, crystal, writing...

Man from Alabama builds a business in RI.
July 31, 2000... Company: Horton Controls, Inc. Type of business: Design and manufactures controlled lighting systems Owner: Pete Horton Founded: 1985 Location: Warwick Employees: 38 Annual revenues: $10 million A twist of...

SENESCO to build third barge.
July 31, 2000... Southeastern New England Shipbuilding Corporation (SENESCO) has signed a contract to build its third barge -- this time for one of its Quonset Point Neighbors, Specialty Diving Services. For SENESCO, the order is the third contract to...

Travel agents proclaim their survival.
July 31, 2000... Despite Internet agencies endure Dwindling commissions from airlines plus an explosion in Internet competition would make it seem travel agencies are losing big thanks to technology. Since 1995, the number of travel agencies in the...

As with most things, the cost is going up.
July 31, 2000... Business travel is not cheap. A recent study released by Wisconsin-based management consulting firm, Runzheimer International, which specializes in transportation, travel, and living costs, reflects the trends in payment and reimbursement...

Despite palm pilots business travelers are still flying.
July 31, 2000... With ever more ease in getting onto virtual superhighways and pilots that can be held in the palm of one's hand, you might think that boarding a plane and actually going some where would be nearly obsolete for business travelers. But...

Travelers' choice: mobik phones.
July 31, 2000... According to last year's annual reader poll in Frequent Flyer Magazine, mobile telephones have surpassed the laptop computer as the most popular technological tool brought on business trips. Seven out of 10 respondents continue to bring a...

Wrath of air travelers rises as quality of service falls.
July 31, 2000... As air travel increases in popularity, so too have the problems associated with it. The more than 43 million business travelers who last year used airlines to get them to and from their destination faced an increased amount of headaches...

Airport-train station link development delayed.
July 31, 2000... A year ago officials close to the Warwick Station Redevelopment District project said they expected the project to be completed by next year, but now say that not event the train station will be finished by 2002. Announced in 1998 by the...

GTECH expects profits to fall by two-thirds.
July 31, 2000... GTECH Holdings Corp. of West Greenwich, the largest vendor-to government lotteries, said fiscal second-quarter earnings will fall by as much as two-thirds on higher, costs, lower fees from one state and delayed contracts. Earnings for...

'Moments of truth' often define businesses for customers.
July 31, 2000... There is a clever phrase called "the moment of truth" in business. I believe it was coined by. a former chief executive officer of Scandinavian Airlines. It was meant to describe those precious moments of customer interaction when loyalties...

BUSINESS notes.
July 31, 2000... COMPLIED BY PATRICK HEALY ADVERTISING Lynne Dean has joined Trainor Associates of Providence as senior account manager. She has previously worked as account manager at Chaffee & Partners, assistant account executive at Foote, Cone &...

Bank of Newport supports Salve Regina building restoration.
July 31, 2000... Salve Regina University's efforts to restore its original academic building, the historic Ochre Court mansion (1892), have received a boost in the form of a $50,000 grant from Bank of Newport. Designated as an official project of Save...

Washington Trust promotes five to asst. vice president.
July 31, 2000... Lori L. Harrison has been promoted to assistant vice president and trust officer of the trust and investment services area. She will provide personal financial and estate planning guidance to clients. Harrison has completed the two-year...

Possible budget crisis.
July 31, 2000... The state budget office, last week released a preliminary five-year. forecast, and it reinforces what economists have been suggesting, that the state has been slow to prepare for an economic downturn. The report, submitted to Speaker of...

Business issues.
July 31, 2000... It happens every election. Underdog candidates rail against incumbents or those who appear in the lead for a race because they won't engage in public debate at all or not enough. Those in the lead, say the only reason they won't debate is...

It's time for common sense in our health care system.
July 31, 2000... Call it universal health care, continuity of care, or may be common sense. Our health care system, as it is today, is fraught with waste and duplication that results from overextended bureaucracies and lack of coordination. The results...

In the era of 'dot coms,' a review of core values often helps.
July 31, 2000... Many business magazines are chock full of details on the new world of dot-com companies -- that would where every day is Casual day, Here vegan nibbles have replaced power lunches. Where water bars, day-care centers and even on-site kennels...

A tribute to a dedicated conservationist.
July 31, 2000... To the Editor: Our community lost a valued leader and friend when Peter Merritt died on June 15th. Rarely has one person labored so hard and effectively to leave his community in a better place than when he arrived. He was a tremendous...

When Henry Shelton woke the consumers up.
July 31, 2000... To the editor: It was late in the 1970s and the Coalition for Consumer Justice, while had just been concentrating on organizing the poor around economic issues, was hosting a meeting in middle class, suburban North Kingstown on problems...

Power play enough for all?
July 31, 2000... High tech means high energy, what is already, according to the Information Technology Association of America, a world market that tops the $2 trillion mark, as countries everywhere continue to embrace information and communications...

KVH links fans with NFL.
July 31, 2000... KVH Industries is sending its fiber optic gyros (FOGs) to the National Football League. The Middletown-based company that specialize in fiber optics, autocalibration and sensor technologies will be making easier for football fans to guess...

Internet still strange to many.
July 31, 2000... For Lori Crowshaw, owner Atlantic Flag and Banner in East Providence using a computer to ship products across the country has become second nature. "We have been doing this for almost three years," she said. "We haven't had any problems,...

At Mesa, growth is the key word.
July 31, 2000... Ten-year-old company grows in numbers, function When Alan Hecht of Mesa Systems Guild of Warwick says that growth is the biggest challenge facing the company in its 10 years of existence, he means it. In just the last year, the...

Many spurn rush-hour crawl to join telecommuters at home.
July 31, 2000... The typical bumper-to-bumper traffic on the morning commute, a day enclosed by the four walls of a cubicle, and more bumper-to-bumper traffic on the way home is becoming less attractive to many of today's business workers. So...

Toys 'r' us.com, others settle Yule delivery suit.
July 31, 2000... WASHINGTON (Bloomberg) -- An FTC investigation, called Project TooLate.com, found that the online retailers failed to deliver goods on time and made false promises that gifts would arrive, by Christmas. Toysrus.com Inc., CDnow.Inc....

Misuse, abuse of metrics in corporations and health care.
July 31, 2000... Managing information crucially depends on measuring it. But the science of metrics, of measuring information, is not well understood in the corporate world. Thomas Davenport documents this condition in Information Ecolo (1997). Based on his...

Energy's economic impact is clear.
July 31, 2000... Worldwide growth indicates $3 trillion industry ahead Although the issue of how much "digital effect" there is on energy usage is still open to debate, there's no question that economy, technology and electricity are now irrevocably...

EDC's Martin joins BX.com.
July 31, 2000... John Martin has left his positions as director of corporate communications for the Economic Development Corporation to join Providence integrated technologies company BX.com as vice president of marketing. Martin, who initially announced...

Statewide Corporations Database now on-line.
July 31, 2000... PROVIDENCE -- The Secretary of State's office last week announced that it is making the Corporations Database available on line, through the Secretary of State's On Line Office at www.state.rius. By selecting the "InfoLink" users will be able...

Andera forms alliance with venture capitalist.
July 31, 2000... PROVIDENCE -- Andera, an Internet strategy and development consulting firm said it is entering in to a strategic alliance with Building2 Investments, a Boston and Tokyo based venture capital firm. Andera will be a preferred provider of...

Open Door Online reports earnings.
July 31, 2000... COVENTRY -- Open Door Online, Inc., which trades publicly over the counter, last week announced first quarter sales of $425,741 and net earnings of $51,908. The company describes itself as a "multi faceted entertainment company that is using...

ICSL announces contract after bankruptcy filing.
July 31, 2000... PROVIDENCE -- ICSL Network Management, a division of Innovative Clinical Solutions (OTC Bulletin Board: ICSL.OB) that provides management services to single and multi-speciality networks, said it has finalized a contract with Fallon Community...

Long Beach, Calif. Selects Nestor's Crossing Guard.
July 31, 2000... PROVIDENCE -- Nestor Traffic Systems, Inc., an affiliate of Nestor, Inc. (OTC:NEST), announced last week that the City of Long Beach, Calif. Has selected Crossingguard[R], the Company's video-based automated red light enforcement system, to...

DefendNet Solutions Partners with Trend Micro.
July 31, 2000... PROVIDENCE -- DefendNet Solutions Inc., a provider of total managed security solutions for the Internet, announced that it has partnered with Trend Micro Inc. (NASDAQ: TMIC)to deliver virus scanning services based on Trend Micro's...

Nortel Networks Announces $1.9 billion Investment.
July 31, 2000... BOSTON /PRNewswire/ - Nortel Networks (NYSE/TSE: NT)unveiled a $1.9 billion investment to more than double its global Optical Internet production capacity over the next 18 months to meet explosive customer demand for its industry-leading...

If your're taking data on consumers, you'd better learn FTC guidelines.
July 31, 2000... Privacy is one of the hottest issues on the Internet. Until recently, there had been no express federal regulations requiring specific privacy protections; only general prohibitions against unfair and deceptive practices were enforced by both...

Energy Central database supplies copious material.
July 31, 2000... More and extensive economic information has come online, in the last month thanks to the release of Energy Central's 2000 HERC FORM 1 Internet Database Application. The l12-page report contains important statistical, operational and...

Experts compare candidates' Web sites.
July 31, 2000... Sites: www.chafeeforsenate.com www.licht2000.org www.weygand.com Reviewers: Dr. Darrell West, a professor of political science and public policy at Brown University and director of the Taubman Center for Public Policy Dr....

BUSINESS NOTES.
July 31, 2000... Log On America appoints marketing asst. Lisa Alpert has been appointed marketing assistant for Log On America. Inc. She has Interned at WPYX-FM in New York and worked in Rhode Island for Cabletron Systems, Inc., CVS's advertising/signing...

RHODE ISLAND / stock watch.
July 31, 2000... [TABLE HAS BEEN CLIPPED]

Rhode Island's property and casualty insurers.
July 31, 2000... [TABLE HAS BEEN CLIPPED]

Area's retail wireless dealers.
July 31, 2000... [TABLE HAS BEEN CLIPPED]

Rhode Island's wireless telephone carriers.
July 31, 2000... [TABLE HAS BEEN CLIPPED]

An issue of aging.
July 24, 2000... Demographics propel concern for long-term care insurance Next spring, when thousands gather at the 2001 Business Expo at the R.I. Convention Center in Providence, one of the "hot" topics will be long-term care insurance, and the wisdom of...

Genesis offers new start for newcomers.
July 24, 2000... When Rita Madeira was growing up in Portugal, her family was too poor to buy the books she needed for school. In 1990, Madeira moved to the United States with only a fourth grade education and no English skills. She knew that her factory job...

NASA seeking bidders.
July 24, 2000... The National Aeronautics and Space Administration (NASA) is coming to Providence-- and bringing its deep pockets along for the ride. The 5th Annual NASA Mentor-Protege Conference will be held Tuesday, August 15, at the Rhode Island...

Gilbane joins high tech race to the future.
July 24, 2000... Name: Paul J. Choquette Position: Chairman, Chief Executive Officer, Gilbane Building Co. PBN: You just won a prestigious entrepreneurial award, which seems somewhat strange considering that Gilbane has been around for years. ...

Foundation's bid for health care stock hailed.
July 24, 2000... Like many organizations these last several years, the philanthropic Rhode Island Foundation has done well with its investments, hitting a return average of 19 percent over the last five years. Match that stock market success with some...

CORRECTIONS.
July 24, 2000... In last week's story about outpatient closures at Butler Hospital it was reported that the Providence Center was accepting no new patients. Linda C. Valianti, marketing communications director for the center, said that for non-emergency cases...

EXECUTIVE POLL.
July 24, 2000... The Providence Business News/Bryant College 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. BRYANT COLLEGE This...

No matter who wins, Senate race is expensive.
July 24, 2000... The television ads have begun and the race is on for the US. Senate. U.S. Congressman Robert Weygand, Former Lt. Gov. Richard Licht and incumbent U.S. Senator Lincoln Chafee are running. So is the meter. Television advertising...

Cameraderie over competition on Jamestown.
July 24, 2000... Sites like the Beavertail Lighthouse, Fort Wetherhill State Park and East Ferry landing have long made Jamestown a favorite Rhode Island destination. Still, Jamestown remains quiet, quaint, at odds with its more touristy neighbor to the east,...

Network Six teams with Orgamation Technologies.
July 24, 2000... WARWICK -- Network Six, Inc., (Nasdaq:NWSS) announced that it has signed an agreement with privately held Orgamation Technologies, Inc. of Westford, Mass. to market Orgamation's proprietary child care provider solution. The innovative product...

Hurricane-ocean prediction model at URI.
July 24, 2000... Listeners tuning to in to hear national weather forecasts this hurricane season could get more accurate information thanks to a model developed by two University of Rhode Island professors. After six years of collaborative research,...

Aerovox reports second quarter results.
July 24, 2000... Aerovox Incorporated, of New Bedford, reported second quarter net sales of $30.1 million compared with $30.6 million for the same quarter last year, which the company said reflects the continuing impact of downward pricing capacitors in the...

Innovative Clinical Solutions gets new contract.
July 24, 2000... ICSL Network Management, a Providence-based division of Innovative Clinical Solutions, LTD. that provides management services to single and multi-specialty networks of providers announced that is has finalized a contract with Fallon Community...

Globix to open Internet Data Center.
July 24, 2000... BOSTON /PRNewswire/ -- Globix Corporation, a leader in advanced Internet Data Center services, high-speed access, and streaming media solutions for businesses, last week joined Boston Mayor Thomas Menino and leading high-tech real estate...

Maersk-Sealand to extend Boston link.
July 24, 2000... BOSTON - Maersk-Sealand has changed its mind and will continue to provide service to the Port of Boston at least through October, the Boston Globe reported. The shipping company had indicated it would terminate service to Boston when its...