Financial Services
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Mayhew to succeed Colella as CEO of OceanPoint Insurance
Douglas K. Mayhew, a 26-year veteran of the insurance industry, has been named president and CEO of OceanPoint Insurance Agency Inc. effective Jan. 1, 2013. more
Dividends may lose tax-favored status in 2013
(Editor’s note: This is the final installment in a three-part series on tax-planning considerations and strategies for tax-year 2012.) more
11/5/12
State sues Schilling, 13 others on 38 Studios
PROVIDENCE – The state and R.I. Economic Development Corporation are suing 38 Studios LLC founder Curt Schilling and 13 other institutions or individuals connected with the failed $75 million loan guarantee to the video company for allegedly misleading state officials about the deal’s risks. more
11/5/12
Angels eye life sciences investments
Rhode Island life science entrepreneurs with breakthrough research they hope will conquer the marketplace have a new ally. more

By Patrick Anderson
PBN Staff Writer | 11/5/12

Storm-damage coverage depends on fine print
If there’s one thing Rhode Islanders should be familiar with by now, it’s the fine print on their homeowner-insurance policy. more

By Michael Souza
PBN Staff Writer | 11/12/12

SBA says 2012 ‘banner year’
The U.S. Small Business Administration proclaimed that its fiscal 2012, which ran from Oct. 1, 2011 through Sept. 30, was a “banner year” for the agency. more
RIMES, GWB strike partnership
The Rhode Island Manufacturing Extension Service has received a $85,000 award from the Governor’s Workforce Board. With the funding, RIMES plans to work with the state Workforce Strategy Center to develop a new skill-gap study. The report will include a training curriculum and assist in building career pathways for targeted occupations. more
Programs assisting Sandy-struck businesses
For those wiped out by Hurricane Sandy, the Small Business Administration stands ready to help by using three of its programs. more
Free workshops offer help with entrepreneurship
The South Eastern Economic Development Corp. and the Rockland Trust Community Development Corp. will hold two basic-business workshops in Fall River aimed at assisting potential and existing entrepreneurs. 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

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