Economic Activity
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Purchases of new U.S. homes decline to 368,000 annual rate
Purchases of new U.S. homes unexpectedly declined in October, showing limited progress in the housing market recovery. more
Death of a firm can breathe life into others at auction
SJ Corio Co. President Salvatore Corio Jr. has been running liquidation auctions in Rhode Island since 1983, so when he took on the 38 Studios LLC bankruptcy sale, he knew he was in for a big job. With over 2,000 lots on the block, selling everything in one session while maximizing returns for taxpayers would take speed and endurance. Over a nearly uninterrupted 10 hours of bidding, the auction recovered $650,000 for the state as Corio mixed his trademark blend of rapid-fire humor with salesmanship. More than once, he asked for a bid of $75 million, the amount of the 38 Studios loan guarantee. more

By Patrick Anderson
PBN Staff Writer | 11/26/12

Foreclosures drop, delinquencies rise in Providence metro
The Providence-Fall River-New Bedford area foreclosure rate dropped 0.1 percentage points in September compared with the same period last year, CoreLogic said Tuesday. more
| 11/20/12
R.I. Lottery paid state $377.7 million during FY2012
During the fiscal year ended June 30, the Rhode Island Lottery paid $377.7 million to the state’s general fund, an increase of $28.8 million compared with the previous year. more
| 10/10/12
More Americans than forecast filed jobless claims last week
More Americans than forecast filed applications for unemployment benefits last week, adding to concern the labor market is slackening. more
Report: Improving biz climate requires ‘sustained, cooperative partnership’
Improving Rhode Island’s business climate will require a “sustained, cooperative partnership,” according to Senate President M. Teresa Paiva Weed. The Rhode Island Senate and the Rhode Island Public Expenditure Council released a report on Tuesday issuing recommendations on how to improve the state’s business rankings. more
| 1/15/13
Residents face Jan. 18 deadline for mortgage claims
Rhode Islanders who lost their primary residence due to an improper foreclosure process between Jan. 1, 2008 and Dec. 31, 2011 face a Jan. 18 deadline to file a claim under the $25 billion National Mortgage Settlement. more
| 1/11/13
Fall River area named on top neighborhoods list
Fall River’s Lower Highlands and historic downtown has been named as one of the 10 Great Neighborhoods for 2012 by the American Planning Association. more
| 10/3/12
Rhode Island Housing foreclosure counseling part of $1B U.S. effort
Since bringing the National Foreclosure Mitigation Counseling program to Rhode Island in 2007, the HelpCenter at Rhode Island Housing has provided foreclosure prevention counseling to more than 14,000 Rhode Islanders, the organization announced Thursday. more
| 12/27/12
WJAR parent company sees losses widen, revenue rise during 3Q
During the third quarter of 2012, Media General Inc. – parent company of WJAR-TV NBC 10 – saw losses widen due to higher expenses but revenue soar due to political advertising and the Olympics coverage. more
| 10/17/12
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