http://www.pbn.com/rss/latest_stories.rss Latest stories from Providence Business News en-us Copyright 2008 Providence Business News Fri, 25 Jul 2008 04:47:39 EDT http://www.pbn.com/static/images/rss_logo.gif http://www.pbn.com/ http://www.pbn.com/stories/33922.html NEWPORT – U.S. Sen. Sheldon Whitehouse, sailing a historic vessel commissioned by his grandfather, finished second in his class at the New York Yacht Club Race Week at Newport. By PBN Staff http://www.pbn.com/stories/33922.html Thu, 24 Jul 2008 17:19:00 EDT http://www.pbn.com/stories/33921.html A proposed four-year agreement with the State of Rhode Island – intended to ease the state’s budget woes – was overwhelmingly rejected today by union workers. “Our membership has spoken by voting, and they have rejected the proposed settlement with the state,” said AFSCME Council 94 President J. Michael Downey. By PBN Staff http://www.pbn.com/stories/33921.html Thu, 24 Jul 2008 16:04:00 EDT http://www.pbn.com/stories/33920.html Roger Williams University has selected long-time economics professor Jerry W. Dauterive, left, to serve as the new dean of RWU’s Gabelli School of Business effective Aug. 1. Dauterive – interim dean of the College of Business at Loyola University New Orleans since 2006 – will replace Maling Ebrahimpour, who has led the RWU business school for the past six years. By PBN Staff http://www.pbn.com/stories/33920.html Thu, 24 Jul 2008 13:04:00 EDT http://www.pbn.com/stories/33919.html KINGSTON – A $250,000 pledge from Hasbro Inc. Chairman Alfred J. Verrecchia and his wife, Gerrie Verrecchia, will help the University of Rhode Island Foundation to attract funds for a scholarship at the URI College of Business Administration. “Gerrie and I are happy to be able to put this high caliber of education within reach of deserving students who may not have otherwise had the opportunity,” Al Verrecchia said. By PBN Staff http://www.pbn.com/stories/33919.html Thu, 24 Jul 2008 13:01:00 EDT http://www.pbn.com/stories/33918.html NORTH KINGSTOWN – Steven J. King, a professional engineer who has worked at Quonset Development Corporation for the past decade, has been confirmed as managing director of the quasi-public organization. “I am very excited to work with the QDC Board, the Economic Development Corporation, and state and local interests to continue building on the positive growth at Quonset [Business Park],” King said today. By PBN Staff http://www.pbn.com/stories/33918.html Thu, 24 Jul 2008 12:16:05 EDT http://www.pbn.com/stories/33917.html PROVIDENCE – Bancorp Rhode Island Inc. (Nasdaq: BARI), the parent of Bank Rhode Island, today posted a second-quarter profit of $2.24 million, an increase of 2.14 percent from the year-ago period’s $2.19 million. Diluted earnings per common share rose to 48 cents, a 9.09-percent increase from the year-ago 44 cents. “Our second-quarter results reflect the continued execution of our strategic plan,” BancorpRI President and CEO Merrill W. Sherman said. By PBN Staff http://www.pbn.com/stories/33917.html Thu, 24 Jul 2008 11:49:00 EDT http://www.pbn.com/stories/33916.html LINCOLN – Personal and business accessories maker A.T. Cross Co. posted a second-quarter profit of $1.87 million, an increase of 89.19 percent from the year-ago $990,000, on revenue that rose 18.46 percent to $43.21 million led by the company’s optical segment. document.write(' '); By Susan A. Baird PBN Web Editor http://www.pbn.com/stories/33916.html Thu, 24 Jul 2008 11:36:00 EDT http://www.pbn.com/stories/33913.html PHILADELPHIA – Sovereign Bancorp Inc., the parent company of Sovereign Bank, reported a second-quarter profit of $127.44 million, a 13.57-percent decline from the year-ago $147.45 million, on revenue that fell 9.08 percent to $1.21 billion. “Given the challenging operating environment, I am pleased with our results,” said President and CEO Joseph P. Campanelli. document.write(' '); By William Hamilton PBN Staff Writer http://www.pbn.com/stories/33913.html Wed, 23 Jul 2008 14:09:00 EDT http://www.pbn.com/stories/33915.html WASHINGTON – The number of mortgage applications filed nationwide fell last week as interest rates continued to rise, the Mortgage Bankers Association said in its weekly report. document.write(' '); By Susan A. Baird PBN Web Editor http://www.pbn.com/stories/33915.html Wed, 23 Jul 2008 13:22:00 EDT http://www.pbn.com/stories/33914.html PROVIDENCE – In a classic case of lemons to lemonade, Textron Inc. (NYSE: TXT) today announced it is accelerating the pace of its share repurchase program. “We think this is an excellent opportunity to capture value that we believe is missing from our shares at current levels,” said Chairman, President and CEO Lewis B. Campbell. By PBN Staff http://www.pbn.com/stories/33914.html Wed, 23 Jul 2008 12:51:00 EDT