Updated February 23 at 12:29am
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Pending Gov. Gina M. Raimondo’s signature, Rhode Island will establish a new advisory council to oversee local pension plans, which together are underfunded by more than $2 billion. more
(Updated, 5:12 p.m.) The Securities and Exchange Commission on Monday filed charges against the R.I. Economic Development Corp. and its bond underwriter Wells Fargo Securities, alleging fraud that stems from a 2010 municipal bond offering to finance the now-defunct video game company 38 Studios LLC. more
The SSV Oliver Hazard Perry, named for the 19th-century Rhode Islander and U.S. Navy commodore, was always envisioned as an educational vessel for Rhode Islanders. The nonprofit Oliver Hazard Perry Rhode Island raised $16 million in eight … more
The Dow Jones Industrial Average climbed tantalizingly close to 20,000 points in 2016, a gaudy milestone that, while symbolic, should not by itself encourage investors in the run-up to Inauguration Day and fourth-quarter earnings reports, according to regional wealth managers. more
(Updated 2:12 p.m.) A request for proposals is being sought for a study of McCoy Stadium and the surrounding area by the Pawtucket Red Sox and city and state officials. more
The R.I. State Retirement Commission last month decided to cut its roughly $1 billion investment into hedge funds in half, saying the asset has underperformed and cost the state too much in fees over the last five years. The precarious … more
The R.I. Economic Development Corp. is urging the R.I. Superior Court to approve a proposed settlement in the ongoing 38 Studios LLC lawsuit, despite a recent legal objection that the state is calling “inflammatory.” more
If the state's public officials want to make a real difference in Rhode Island's future, they should spend less time on getting to the bottom of the 38 Studios mess and more, a lot more, on the looming public-finance meltdown over unfunded liabilities for local pensions and other post-employment benefits (also known as OPEBs). more
To renovate, rebuild or move on? Those are the questions Rhode Island, Pawtucket and the Pawtucket Red Sox face after Pendulum Studio II LLC completed a feasibility study of what to do with McCoy Stadium. more
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