PROVIDENCE – The House of Representatives passed a bill expanding the definition of farming in the state to include operations such as farm stores, tours, bed-and-breakfast businesses, corn mazes and other activities.
“It is becoming increasingly difficult to earn a living by farming alone,” said bill sponsor Sen. V. Susan Sosnowski. “This bill helps farmers earn a living without being forced to abandon agriculture.”
By expanding a farmer’s ability to use his or her land, it will be easier to preserve the acreage and the agricultural livelihood, said Sosnowski, who is also an organic farmer.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
The Senate already approved a similar bill, which now goes before the governor for consideration.
BNS sells U.K. land, launches acquisition search
MIDDLETOWN – BNS Co. shareholders approved the sale of the company’s U.K. assets, approximately 86.5 acres of land currently operated as a landfill near Heathrow Airport, for about $10.1 million.
“After that closing, the company’s balance sheet will primarily consist of assets in the form of cash and cash equivalents, a few remaining liabilities and the contingent liabilities relating to product liability claims,” said Michael Warren, president and CEO of BNS.
The company now has in excess of $20 million in cash and its board of directors agreed to continue as a going concern as the best course available. The board authorized management to launch a search for a suitable acquisition candidate.
BNS Co., formerly known as Brown & Sharpe Manufacturing Co., is one of the oldest corporations in America. Established in 1833 as a manufacturer of machine tools and precision measurement instruments, it has been in continuous operation since then but in recent years has been gradually selling its operating units.
In addition to approving the sale, shareholders voted to approve the election of four directors, two of whom are current directors and two new candidates. Henry D. Sharpe III and J. Robert Held were re-elected to serve until 2007. Joining the board will be Jack Howard and Jim Henderson, both representatives of Steel Partners, the holder of approximately 19.9 percent of BNS stock.
