Government
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Bank of America Corp. urged a federal judge to throw out a $1 billion fraud lawsuit filed by the U.S. alleging it sold defective residential mortgage loans to Fannie Mae and Freddie Mac that defaulted. more
Rhode Island Gov. Lincoln D. Chafee said he will sign a bill legalizing same sex- marriage as soon as this week, providing an economic boost to the state and a resolution of an issue whose “time had come.” more
To the Editor: The R.I. Department of Environmental Management is again on record as opposing economic growth and its corollary, jobs. The DEM (an acronym for Delay Economic Momentum) recently objected to a legislative proposal to prevent the expiration of building permits issued to developers by local and state regulatory agencies. more
To the Editor: The Governor’s Workforce Board (GWB) deeply appreciates the vote of support for job training expressed in the PBN’s editorial entitled “Broad job training efforts a good sign” (4/15/13). The editorial specifically commends the GWB for two grants recently awarded to Amos House in Providence and Connecting Children and Families in Woonsocket to partner with employers in the food-service industry to train 120 homeless, unemployed and underemployed Rhode Islanders. These awards were two of 10 Innovative Partnership grants – totaling nearly $2 million – that were announced in March by Gov. Lincoln D. Chafee to support innovative business-education partnerships that will prepare unemployed Rhode Islanders with the skills that businesses need to fill current and future vacancies in high-growth occupations and industries. more
The recently approved American Airlines and US Airways merger could soon mean fewer flights from fewer airports, including regional destinations like T.F. Green Airport, and Manchester-Boston Regional Airport in New Hampshire. The flights that remain will be more expensive and on smaller aircraft – and that may push some airports to downsize, according to one airline expert. more
Bel Air Finishing Supply in North Kingstown first tapped state professional-development grants five years ago when the company was making a push for exports and needed to train workers in overseas marketing. more
PROVIDENCE – Rhode Island last week officially returned control of financially troubled Central Falls to local elected officials, the Associated Press reported last week. City officials are now charged with guiding the municipality through a recovery plan crafted under state oversight and approved by a federal bankruptcy judge. more
SOUTH KINGSTOWN – South County town officials say regulations enacted in 2012 have allowed dozens of small home-improvement projects that were stalled to go forward. more
BOSTON – The Mass. Department of Environmental Protection is seeking public comment for proposed amendments to agency regulations that deal with wetlands, waterways and water-quality certifications, as well as wastewater-related changes to state-issued permits and operation standards for sewer-treatment works. more
NEW YORK – Fitch Ratings last week affirmed its AA rating of the Massachusetts Port Authority’s $1.16 billion revenue bonds and its A+ rating of the authority’s $127.4 million passenger facility charge revenue bonds. Fitch said the rating outlook is stable for all of the authority’s debt. more
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