Clinton’s budget tags $512 million for Raytheon
WASHINGTON – Programs at Raytheon Systems in Portsmouth have been allocated $512 million under the budget for Fiscal Year 2001 submitted to Congress by President Clinton. The proposal involves 24 new or existing programs for the Navy, according to a release from the office of Rep. Patrick Kennedy. Those programs involve ship system design, four programs totaling $105 million; combat and training systems, six programs totaling $130 million; radar, seven programs totaling $196 million; and undersea warfare systems, seven programs totaling $81 million.
A.T. Cross plans layoffs in light of losses
LINCOLN – With its sales continuing to decline, A.T.Cross Co. announced plans to reorganize the company, a tactic that would include layoffs. A company spokesman said there would be a reduction in employees, without specifying the number. Cross employs 700 in Lincoln, and a total of 1,000 worldwide. The company reported a fourth quarter loss of $9.86 million or 59 cents a share, compared with a loss of $1.37 million, or 8 cents a share in the fourth quarter a year ago. For the entire year the company reported a net loss of $20.1 million, or $1.21 a share, compared with $5.4 million or 33 cents a share in the previous year. The company spokesman said specific announcements about layoffs would be made after the end of the first quarter. The company also reported that it would take a reorganization charge of between $15 million and $20 million in the first quarter. The reorganization is focused on its writing instrument business, according to statements by company executives.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
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Community Health Centers dispute resolved
PROVIDENCE — After a month-long strike at Providence Community Health Centers, the union representing 85 health care workers reached agreement with the city on a new two-year contract. The workers, represented by District 1199 of the New England Health Care Employees Union, are health aides, dental clinic assistants, phlebotomists and office workers. They are employed at the seven health care centers throughout the city. Only two of the seven centers have been open during the strike. The agreement included hourly pay increases in each year of the contract, a change in the company providing health insurance to employees, resulting in a reduction in operating expenses for the health centers and successive $10,000 and $25,000 operating grants to the centers by the city during the contract.
AFL-CIO opposes proposed merger of hospitals
PROVIDENCE – The state AFL-CIO announced that it opposes the proposed merger of Lifespan and Care New England, the two largest hospital networks in the state. The AFL-CIO includes about 235 local unions and 80,000 workers and is a major influence in the State House. Frank J. Montanaro, president of the organization, is quoted by The Providence Journal as saying, “I can’t find what good this merger is going to do, what benefit we are going to get.” He and other union officials have expressed fear that the merger would create a hospital monopoly that would be detrimental to the state’s health care system.
KVH alleges patent infringement in law suit
MIDDLETOWN – KVH Industries has filed suit in U.S. District Court in Rhode Island against in-motion satellite antenna competitor Datron/Transco, Inc. for alledgedly infringing a KVH patent. KVH is asking the court to prevent Datron from making or selling products that KVH claims infringe on its patent. KVH is also seeking unspecified compensatory damages. KVH said the patent deals with using one antenna to receive simultaneously signals from two different types of satellites, such as a television satellite to receive data and a communications satellite to transmit requests for data.
Johnston businesses fined in labor dispute
JOHNSTON, R.I. — Three Johnston businesses accused of failing to pay adequate overtime have been fined and ordered to compensate 70 workers. The employees involved did not speak fluent English and were not aware of their rights, according to U.S. District Judge Mary Lisi. The companies agreed to pay $75,000 in back wages and damages and $15,000 in fines to settle the lawsuit. They did not admit any wrongdoing, the U.S. Labor Department said. The companies are A.A. Wrecking, Asbestos Removal Contractors and A.A. Asbestos Abatement. Valentino Tirocchi, of Johnston, is the head of all three businesses.
DEPCO to pay off lingering debt
PROVIDENCE — The lingering debt from the state’s banking crisis will finally be paid off this summer. The Rhode Island Depositors Economic Protection Corp. — known as DEPCO — expects to make the final $41.7-million payment on the $350-million bailout on Aug.1. The debt stems from bonds issued by the state to bail out stranded depositors at banks and credit unions that collapsed in 1991. But the final DEPCO payment may not result in a cut in the sales tax, which has been used to finance depositors as much as $50 million a year. There is little legislative support to roll back the state’s 7 percent sales tax to the 6 percent before the credit unions collapsed, The Providence Journal reported.
