Raytheon adding more than 200 jobs
PORTSMOUTH — Raytheon is adding between 200 and 250 jobs at its facility here, the company told U.S. Sen. John H. Chafee. This is well below the 600 that the company predicted it would hire last October because of an anticipated company reorganization. The reorganization included the elimination of 14,000 jobs nationwide, but still anticipated the increase in jobs here because of the transfer of some work previously done elsewhere. With the new hires, plus 20 new employees already hired and about 120 displaced workers transferred from California, Chafee said the new job total would be about 370. But he said he expected the company to hire more employees after the current hiring phase is completed.
General Dynamics offers bid for Va. shipbuilder
FALLS CHURCH, Va. – General Dynamics Inc., the parent company of Electric Boat in Groton, Conn., has offered $1.4 billion for Newport News Shipbuilding, Inc., the company’s chief competitor for the Navy’s submarine contracts. There was no immediate response from Newport News Shipbuilding, but industry analysts expressed surprise and some doubt that the government would approve a merger that would place about 80 percent of the military shipbuilding industry in the country in one company’s hands.
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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Alternative Care Medical Services unit shuts down
WARWICK — Alternative Care Medical Services, a Massachusetts-based home-care agency with offices in Providence and Warwick, closed its Warwick office recently. The company employed 50 staff members who served 60 patients from the Warwick office. They were reported to have spent their last few hours of employment with the company placing patients with new care givers. The Providence office, owned by a separate division of the company, remained open. An Alternative Care spokesperson in the company’s Burlington, Mass., headquarters reported that the company had filed for Chapter 11 bankruptcy protection and that it was closing six offices in Massachusetts, one in Connecticut, and one in New Hampshire, as well as the Warwick location. The Providence office, operated under the ATMS Staffing name, is run by the parent company, Hospital Staffing Services Inc. of Memphis, Tenn.
Clariant closing Coventry lab in 2000
COVENTRY – AZ Electronics Material, a subsidiary of the Clariant Corporation, will close the research and development lab it operates in this community by July 2000. The lab employs 25 people, according to the Providence Journal. A Clariant spokesperson said the company would try to find jobs for the lab people at its Coventry plant which is not affected by the shutdown or at one of its 20 other subsidiaries in the United States. AZ reported that it was shifting its research to the company’s primary conductor plant in Wiesbaden, Germany, as well as at its main U.S. plant in Branchburg, N.J. Clarian employs more than 300 workers at its pigment manufacturing plant in Coventry.
CytoTherapeutics lists $12 million loss for 1998
LINCOLN – CytoTherapeutics, Inc. has reported a net loss for the year ending Dec. 31, 1998 of $12,628,000. That compares with an $18,114,000 loss for the same period a year ago. Total revenue for the year was $8,803,000, compared with $10,617,000 the previous year. Operating loss for 1998 was reported at $13,458,000 compared with $22,488,000 in 1997. That loss included a one-time research and development expense of $8,344,000 for the acquisition by the company of StemCells Inc., along with $1,185,000 attributable to the company’s recognition during 1997 of Modex’s loss from its operations. Richard M. Rose, M.D., president and chief executive officer of Therapeutics, said the company had reduced its operating loss by 30 percent in the second half of 1998, compared with the first half of 1998. He add that “the future of the company requires that we firmly establish our leadership in the field of stem cell technology by discovering and owning the right cell first.”
Court system software agreement signed
LEXINGTON, Ky. – Systems and Computer Technology Corp. has announced it has signed agreements valued at $2.1 million to supply software and related services to the state of Rhode Island for installation in the state’s court system. The software and services are related to the state’s criminal and juvenile courts, as well as archive accounting management and extended case information. Rhode Island is already implementing SCT’s system for traffic case management.
Grow Smart RI hires Scott Wolf
PROVIDENCE – Grow Smart Rhode Island, a year-old non-profit organization representing a cross section of interests including business, academia, government, minorities, and religious has appointed Scott Wolf executive director. Wolf is director of the ’98 Project in Washington, D.C., a grass-roots lobbying and issue education organization. He will begin his new job with Grow Smart on March 15. Grow Smart was founded to develop public awareness of economic, environmental and social aspects of so-called urban sprawl James H. Dodge, chairman, president and chief executive of the Providence Energy Corporation is chairman of Grow Smart. Wolf is a former candidate for Congress from the first district in 1988 and 1990, and has been active in the Democratic Party in various roles, including that of director of the Office of Housing, Energy and Intergovernmental Relations under then Gov. Bruce Sundlun. He has also operated his own polling and public-policy consulting firm. He is a 1975 graduate of Brown University and is married to Joyce P. Krabach, a teacher.
Cox to refund sales tax
WEST WARWICK – Cox Communications, advised by state tax officials that it should not be charging a sales tax to its Internet service subscribers, announced that it has terminated that practice. Cox said it is informing its customers to that effect and will announce its reimbursement plan soon. Cox, which offers cable service to about 90 percent of the Rhode Island market, has been providing Internet service for about a year. The company told the Providence Journal that it would not disclose the amount of taxes that it had collected or the number of its Internet subscribers in the state. It did report that it had more than 67,000 subscribers nationwide.
