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Alex and Ani to open professional development center
Jewelry designer Alex and Ani LLC will open a professional development center in a Weybosset Street building it has purchased. The location will also house a new retail location will open in late August, CEO Giovanni Feroce told Providence Business News. more
Inc. Magazine releases 2012 fastest-growing private companies list
Sixteen Rhode Island companies - including VMS Alarms - and three from neighboring Bristol County, Mass., were named as some of the fastest-growing private companies in the United States on an Inc. Magazine 2012 list. more
| 8/16/12
Providence best ‘foodie’ city in America says Travel + Leisure
Providence was ranked the best foodie city in Travel + Leisure Magazine’s “America’s Favorite Cities” poll that ranks the vacation-worthiness of 35 cities from across the United States. more
Procaccianti sells Westin to Omni
The Procaccianti Group has agreed to sell the Westin Providence Hotel to Omni Hotels & Resorts in a deal that is expected to close in December. more
| 10/5/12
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
Boutique shops build momentum
When Nora Alexander was a student at Rhode Island School of Design 10 years ago, the only things that routinely drew her and her classmates into downtown Providence were live music and “dive” bars. more

By Patrick Anderson
PBN Staff Writer | 10/15/12

Clarendon Court sells for $13.1M
Clarendon Court, the Cliff Walk mansion and former home of Claus and Sunny von Bulow, has sold for $13.1 million, the highest price in the state this year, listing agent Paul A. Leys of Gustave White Sotheby’s International Realty announced. more
Defense spending in R.I. up 37% since 2003
Federal defense and homeland security contracts in Rhode Island have grown 37 percent to $472 million since 2003, according to a new report from the University of Massachusetts’ Donahue Institute. more
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