Rhode Island News Briefs

RI gets first payment from tobacco settlement
PROVIDENCE – General Treasurer Paul J. Tavares last week accepted a check for $17,749,989 from Attorney General Sheldon Whitehouse, the first payment from the tobacco settlement. The payment is more than six months ahead of schedule for the annual payment. Over the next 25 years the state expects to receive about $1.45 billion from the tobacco companies settlement, part of a $206 billion national agreement.

Sovereign offers jobs to 266 at BankBoston
PROVIDENCE – Sovereign Bancorp. of Pennsylvania, which is expanding into New England by buying many of BankBoston’s branches, including all of those in Rhode Island, announced it is offering jobs to 266 employees of BankBoston’s consumer finance division in Providence, but that another 160 employees of the consumer finance unit will lose their jobs sometime after Jan. 1. According to the Providence Journal, a FleetBoston spokerswoman said Sovereign had offered jobs to 760, 266 from the consumer finance division and some 500 from BankBoston branches. That leaves some 940 others in Rhode Island who have yet to hear whether or not they will be offered positions.

Innovative Solutions delisted by Nasdaq
PROVIDENCE — Innovative Solutions, Ltd. Said it has received notification from the Nasdaq National Market that the company’s common stock has been delisted effective at the close of business on Dec. 8, and immediately began trading on the OTC Bulletin Board. The company’s stock was trading at about 15 cents in mid-week last week. Its high for the year was $2.88 and low nine cents. The company operates in the pharmaceutical and managed care industries, and says it provides clinical and economic research and disease management, as well as managed care functions for specialty and multi-specialty provider networks, including more than 9,000 physicians and more than eight million patients nationwide.

Testing program for auto emissions ready
WARWICK – The state Emissions and Safety Inspection Program has announced that it expects to be ready Jan. 3, 2000 to begin testing auto emissions around the state. Installation of the testing equipment is under way, the state agency reported, with 60 stations reporting that the equipment has been installed and is ready to operate. Another 133 are still installing and preparing the equipment they have received. More than 200 inspectors have completed their training and have been certified, the state reported. The state expects to test 650,000 cars during the first year of the program, with 1999 and 2000 model automobiles exempt for two years or until they have traveled 24,000 miles. To find out when they should get their cars inspected, motorists should check the sticker on their windshields. To find out where the nearest inspection station is located they can call a toll-free hotline, 1-877-474-3787 or visit the Web site at www.riinspection.com.

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Almond awards $433,000 for trail projects
PROVIDENCE – Governor Lincoln Almond announced the augmented award of $433,000 matching federal funds to public and private nonprofit groups for 11 recreational trail projects throughout the state. The projects range from the rehabilitation of the Riverside Mill brownfields site in Providence as a scenic location within the Woonasquatucket River Greenway to the development of a wheelchair accessible trail from Old Danielson Pike to Hopkins Mill Pond by the Foster Land Trust. The federal funds must be matched by local contributions and may be used to create new recreational trails, or to restore and improve existing trails for both hikers and other trail users. Among the other grants are $35,892 to the Aquidneck Island Land Trust for the first two-mile segment of a north-south trail through the Sakonnet Greenway, eventually reaching from Portsmouth to Newport; $80,700 to the South Kingstown Land trust to extend the DuVal Trail; and $50,000 to the town of Bristol to develop 7,000 feet of trails in the historic Waypoyset Preserve at Bristol Narrows.

GTECH, New Hampshire break off talks
WEST GREENWICH – GTECH has announced that its negotiations with the New Hampshire Sweepstakes Commission over a proposed six-year contract for providing online and instant lottery tickets and services had been terminated by the commission because no agreement had been reached. The commission had selected GTECH last July from several applicants for the project. GTECH already has a contract with the New Hampshire commission to provide online products and services through the Tri-State Lotteries composed of New Hampshire, Maine and Vermont. The contract that began in 1991 will conclude July 1, 2000.

Nortek buys California firm
PROVIDENCE – Nortek, Inc. announced that it had bought Xantech Corp. of Sylmar, Calif. for an undisclosed sum. Xantech makes infrared remote control devices for controlling VCRs, Cable TV and stereo equipment in homes.

Dave Duffy stepping aside at D&S
PROVIDENCE – David A. Duffy, president, chief executive and co-founder with the late Joe Shanley of Duffy & Shanley advertising and public relations company announced that he is selling his majority ownership in the company to his two partners and son, Jonathan and will turn over to them the direct operation of the firm. Duffy, 60, who started the company independently 27 years ago, and was joined by Shanley two years later, will remain with the firm as chairman for five years, the company announced. Shanley retired 10 years ago. As of Jan. 1, Jon Duffy will succeed his father as president of the company, partner Robert L. Newbert Jr. will be chief executive officer, and partner E. Peter Marcionetti, will be chief creative officer, the company announced.

Hasbro names Nagler legal counsel
PAWTUCKET – Barry Nagler, formerly senior vice president and legal counsel for Reebok, has been named general counsel and senior vice president at Hasbro, the company announced. He succeeds Cynthia Reed, who is senior vice president of Games.com, the new Internet site Hasbro plans to launch next year. Nagler spent 12 years with Reebok as a member of the company’s senior management team and was responsible for the legal department.

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