Met Life plans 61 more jobs for Warwick
WARWICK – Metropolitan Life Insurance Co. announced that in a series of job shifts between Tulsa, Okla. and Warwick, its New England headquarters for Met Life and company base for its affiliate, Metropolitan Life, Auto & Home, about 60 jobs would be added at the Warwick offices. First, 58 annuity jobs are being transferred to Tulsa. Warwick employees may apply for those jobs. On the other hand, the company’s life insurance operation in Tulsa, which involves 119 positions is being consolidated with the Warwick operation. The overall result of the shifts is a net gain of 61 jobs for Warwick, the company announced. The changes will be phased in over the next 11 months, a company spokesperson said.
Former AT& T executive to take key LOA post
PROVIDENCE – Log On America announced that it had hired Charles F. Cleary, formerly general manager of growth markets for AT&T in Philadelphia, to fill the newly created position of chief operating office for LOA. In addition to directing the day to day financial and technical operations at LOA, Cleary will oversee the company’s expansion of sales, marketing and advertising activities, the company announced. Cleary, who began working for LOA last Monday primarily in Philadelphia, will move to the Providence area as soon as he is able to relocate his family. While LOA’s primary source of revenue remains the Internet access, which it provides to businesses and residences, the company has begun offering telephone service as well.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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Submarine development could bring more work to EB
WASHINGTON, D.C. – A report in the Washington Post says that the Pentagon wants to increase the number of attack submarines by 30 percent. If true, that could mean a substantial boost in work and jobs for Groton and North Kingstown where Electric Boat builds its submarines. According to the Post, the nation’s top military leaders agree that a planned reduction in the attack submarines would threaten vital programs. The Navy, which had 96 attack subs 10 years ago, has only 56 now and additional reductions are planned under an agreement reached by the military three years ago. Instead of the 50 such boats agreed upon for 2003, the latest report which reflects broad military thinking, not just the Navy’s, calls for 60 active submarines. That would involve a complex of refueling of the nuclear engines of some of the boats and replacement of some of the aging Los Angeles class with the newer Virginia class at a more rapid rate than had been planned. The result, if the latest plan wins approval, would mean more construction at Electric Boat’s facilities as well as at Newport News Shipbuilding’s yards in Virginia, and the Portsmouth, N.H., Naval Shipyard. EB’s employees at Groton and Quonset have dwindled from 22,000 in 1990 to 9,500 last year
Citizens, USTrust merger OK’d
BOSTON – The Massachusetts Board of Bank Incorporation gave unanimous approval of the merger of Citizens Financial Group of Providence and USTrust of Boston. Citizens’ agreement to join the surcharge free SUM network of ATMs was cited by Shannon O’Brien, Massachusetts state treasurer and member of the board, as helpful in her decision to support the merger. A Citizens spokesperson said she expected the merger to be completed within a week. The result would be a $30 billion regional bank operating more than 350 branches in Rhode Island, Massachusetts, Connecticut and New Hampshire, according to the Providence Journal.
Federal auditor to review SBA board’s records
PROVIDENCE — A federal auditor is inspecting the books of the volunteer council that oversees the Small Business Administration’s annual Rhode Island Salute to Small Business, after receiving allegations from “an anonymous source,” according to David Gray, acting counsel for the Office of Inspector General of the SBA, which is conducting the review. Gray said the office will decide after its review whether to conduct a formal audit. He declined to specify the allegations, the
Providence Journal reported. The Rhode Island SBA Advisory Council raised $113,182 last year, mostly through ticket sales to the annual Salute to Small Business and from contributions from co-sponsors of the event.
Textron invests in e-commerce firm
PROVIDENCE — Textron is investing $100 million in Safeguard Scientifics of Wayne, Penn., a venture capital company that invests in Internet businesses. As part of the deal, Textron gets access to the 250-Internet related companies in which Safeguard has invested. Textron expects to use the relationship to advance its e-commerce strategies, a company spokesman said. The Textron investment represents purchase of about 2 percent of Safeguard Scientifics, which invests in companies in electronic commerce, electronic business software and services, and electronic communications.
Bills adding up for state in EgyptAir crash
PROVIDENCE — The federal investigation of the EgyptAir Flight 990 crash has so far cost the state more than $450,000. The biggest expenses have been attempting to identify victim remains, refurbishing a hangar at Quonset Point, in North Kingstown, to house airplane wreckage and outfitting a former gym there for use as a morgue, The Providence Journal reported. The state is allowing use of its Quonset Point facilities at no cost but expects to be reimbursed for its expenses in support of the investigation. The plane crashed Oct. 31 off Nantucket, Mass., killing all 217 aboard. Bills have been submitted to EgyptAir, the FBI and the National Transportation Safety Board. The state has been reimbursed at least $130,000 to date.
Rhode Island man sentenced for transporting stolen computer chips
BANGOR, Maine — A Rhode Island man has been sentenced to 13 months in federal prison for his role in a conspiracy to transport stolen computer chips from Maine to Massachusetts. Robert Gardner, 45, of Middletown, also must pay restitution of nearly $1 million, U.S. Attorney Jay McCloskey said. Gardner pleaded guilty in September to federal charges that included four counts of transporting computer chips stolen from the SCI plant in Augusta to Massachusetts, McCloskey said. Gardner testified against another man, Todd Bradley, of Framingham, Mass., who was convicted of similar charges and sentenced to two years in prison for his role in the conspiracy, the prosecutor said. Gardner and Bradley were accused of trying to take delivery of the chips after they were stolen on the night of Oct. 15, 1995, and another 1,000 chips that were secretly taken from the plant over the previous summer. Six Mainers pleaded guilty in connection with the October incident. According to an FBI affidavit, two masked men entered SCI in Augusta, bound and gagged employees, and hit a security guard in the face. One of the men was armed with a gun. Sentences for the six Mainers ranged from more than 8 years to 15 months.
