Government
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Pension Reform
1/7/12
Raimondo pension lawsuit seen risking bankruptcies
Rhode Island Treasurer Gina Raimondo championed an overhaul last year of one of the nation’s worst- funded public pensions, setting out a road map for states and cities by curbing benefits and delaying retirements. more
Cuts in defense, Medicare could mean fewer jobs for R.I.
Rhode Island could lose up to $82 million and more than 3,000 jobs due to sequestration in defense and Medicare spending, respectively, according to reports released by the Center for Security Policy and the Hospital Association of Rhode Island. more
Treading water on R.I. wind farms
Deepwater Wind LLC has signed a new lease agreement with the Quonset Development Corporation for a turbine-manufacturing facility and office space in the Quonset Business Park in North Kingstown. The move positions the company to develop a proposed 150-turbine wind farm off the Rhode Island coast, but only after a much-smaller demonstration project the company hopes can be built in the next two years. more
38 Studios tells court it missed sales goal
In a reversal of public statements made in the wake of the revelations of its financial difficulties, executives of 38 Studios LLC told U.S. Bankruptcy Court in Delaware that its its first product, the video game “Kingdoms of Amalur: Reckoning,” did not meet its sales expectations. more
| 7/10/12
38 Studios declares bankruptcy as formal investigation begins
(Updated 6:00 p.m.) Former Red Sox pitcher Curt Schilling’s beleaguered video game company 38 Studios LLC has declared bankruptcy as a formal investigation of the company begins. more
| 6/7/12 | 1 comment
Chamber pulls out of EDC marketing deal
The Greater Providence Chamber of Commerce has pulled out of a planned partnership with the R.I. Economic Development Corporation to lure out-of-state, knowledge-based companies to … more
Warwick reaches agreement with Fire, Police
The city of Warwick has reached new, three-year contracts with the city’s fire and police unions, Mayor Scott Avedisian announced Monday. more
| 7/3/12
RIPEC: Mass. casinos are bad news for R.I. revenue
Casino gaming in the Bay State will likely negatively affect revenue for both Rhode Island’s casino operators and the state of Rhode Island itself, according to a new report from the R.I. Public Expenditure Council. more
| 6/7/12 | 2 comments
Providence breaks $700,000 pension link joining nationwide insolvency fight
Providence lawmakers - facing a $1 billion deficit and squeezed for cash - reformed pensions, ending automatic raises and capping annual payouts and joining a national insolvency fight over pensions. more
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