Fall River unveils new commercial plaza

Nick and Frank Marchione, co-owners of the development, invested $1.3 million in the plaza. The investment includes a $150,000 low-interest business loan from the FROED. In return of their loan from the city, the two men have pledged to create at least 10 new full-time jobs in the plaza, according to the FROED.

“For those of us who live in Fall River, the Globe Four Corners district has been part of our collective memory for as long as we can remember,” said Mayor Edward M. Lambert Jr., who joined the Marchiones at their recent unveiling. “This is a highly traveled, highly visible area, and I am grateful to Nick and Frank for their investment.”

Before the brothers developed the site, it had stood vacant for two years.

Quaker Fabric reports decline in second-quarter results

FALL RIVER – Quaker Fabric Corp. reported declines in sales, income and earnings for the quarter that ended July 5.

Sales were $73.9 million, compared to $101.9 million last year, Quaker reported; net income was reported at $165,000 compared to last year’s $4.5 million. The company’s diluted earnings per share for the quarter were 1 cent, compared to 26 cents per share during the same period last year. Basic earnings for the second quarters of 2003 and 2002 were 1 cent and 28 cents, respectively.

Larry Liebenow, Quaker’s president and CEO, attributed the decline in profits and earnings to weakness in the domestic and international markets as a result of the economy in both sectors. This year’s second quarter also represents only 12 weeks instead of 13, because of the company’s annual shutdown for scheduled maintenance, he said in a company statement.

The company also announced a dividend of $.025 per share payable on Aug. 22. Quaker Fabric sales for the year that ended Jan. 4, reached $365.4 million, net income was $11.6 million, and diluted earnings were 69 cents per share and basic earnings were 72 cents a share.