Since the financial crisis, a Narragansett Bay-sized cloud of self-doubt or “irrational negativity,” as Gov. Lincoln D. Chafee described it, has been among the factors blamed for Rhode Island’s inability to regain its financial footing.
Hasbro Inc. will pay $72.9 million in royalties to Johnson Research & Development Co., the licensor of the toymaker’s line of Nerf guns, after an arbitration hearing over the terms of a license agreement between the two companies.
Alex and Ani LLC CEO Giovanni Feroce has left the company, according to a release issued Thursday afternoon, leaving founder and creative director Carolyn Rafaelian to assume the role of interim CEO while the board of directors conducts a search for a replacement.
In addition to its standing atop the largest company category in Providence Business News’ Fastest-Growing Private Companies list, Rhode Island-based jewelry brand Alex and Ani LLC recently was named one of the nation’s fastest-growing private companies by Inc. magazine. With revenue shooting up from $2.2 million in 2009 to $79.8 million in 2012, Alex and Ani ranked fourth in the Top 100 Retail Companies category and 94th overall. CEO Giovanni Feroce attributes this growth to a “triple bottom line” approach – profitability, environmentalism and charity.
By Victor Paul Alvarez
Lego A/S, the Danish building-block maker, said first-half sales jumped 13 percent with the strongest growth in Asia amid a slower start to 2013 in the toy markets of North America and and Europe.
Rhode Island has won a $100,000 federal grant to help build a manufacturing and design center in the state, Gov. Lincoln D. Chafee and members of the state congressional delegation said Wednesday.
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