Shrinking labor supply seen limiting growth
KINGSTON – With unemployment in New England continuing at a near record level, growth in the region is expected to tail off to about 1 percent next year, according to analysts for the New England Economic Project. In Rhode Island, unemployment in September was reported to be 3.8 percent, a full percentage point lower than it was at the same time last year. NEEP economists predict the region’s exports will continue to grow, while overall construction is expected to drop from the 6 percent level this year to about 1 percent in 2000 and 2001. In Rhode Island construction “build up” will continue into next year, fueled by the Providence Place construction and the Fidelity development in Smithfield. However, Leonard Lardaro, URI economics professor and NEEP’s forecast manager, predicts that as these projects conclude over the next year, the pace of economic growth in the state will also diminish.
State gets grant for workers’ injury center
PROVIDENCE – The state Department of Labor and Training has received a two-year, $267,500 grant from the Workers’ Compensation Health Initiative, a program sponsored by the Robert Wood Johnson Foundation of Princeton, N. J. The grant is to be used to support the development of a model Technical Resource Center focusing on medical care and services for workers suffering from job related injuries or illness. The goal of the Health Initiative is to contain costs while at the same time improving care for injure workers. In Rhode Island, the initiative will be under the direction of Kathleen Sohar, R.N., director of patient care services at DLT’s Dr. John E. Donley Rehabilitation Center in Providence.
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Textron acquiring Swedish manufacturer
PROVIDENCE – Textron, Inc. announced it has agreed to acquire AB Benzlers, a leading manufacturer of power transmission products for the material handling, paper and food industries. Benzlers is a wholly owned subsidiary of the Atle Karolin Group of Helssingborg, Sweden. Textron said in its release that the two companies hope to complete the acquisition by the end of this year, subject to regulatory review. Benzlers is to become part of Textron’s Power Transmission Products business within the Fluid and Power Systems Group.
Center wins substance abuse grant
PROVIDENCE – The federal government has awarded the Providence Center $1.65 million in a combined effort with two supporting agencies to assist minority women in prison fight against substance abuse and to help them when they return to society. The grant is expected to help about 150 women. The funds will be distributed through the Providence Center by the Department of Health and Human Services’ Substance Abuse and Mental Health Services Administration over a three-year period. The Providence Center has formed a partnership with Miriam Hospital’s Immunology Center and Women in Transition. The Immunology Center’s Project ACHIEVE is called “Safe Release.” The Providence Center is a private, nonprofit behavioral health care organization.
ICS gets stay on NASDAQ delisting
PROVIDENCE – Innovative Clinical Solutions has appealed NASDAQ’s decision to delist the company’s securities from its national market. The appeal filed with a NASDAQ hearing panel will stay NASDAQ’s decision pending the panel’s decision. NASDAQ’s decision to delist the company was based on its requirement for $4 million net tangible assets and a minimum $1 bid requirement. The company president, Michael T. Heffernan expressed confidence in Innovative Clinical’s soundness, asserting, “We believe that the company has the working capital available to continue application of our growth plan. We are evaluating various alternatives to create long-term, sustainable value for the company.” Still, Heffernam conceded, there is no assurance that the company will be able to achieve compliance with the NASDAQ listing requirements or be successful in its appeal of the delisting decision. Innovative Clinical Solutions Ltd. offers services to support the pharmaceutical and managed care industries.
New Harvard Pilgrim Health data number
PROVIDENCE – The state Department of Health has a new telephone number for anyone interested in getting information about Harvard Pilgrim Health Care of New England. The number to call is 1-800-869-5536. The Department of Health has taken over operation of Harvard Pilgrim temporarily because of that company’s financial problems. The number, which will increase the number of phone lines available will operate through December 1999, the release from the department said. Calls are taken from 9 a.m. to 4 p.m., Monday through Friday. Callers after hours will get recorded messages including answers to the most frequently asked questions about Harvard Pilgrim. Also available on the department’s Web site, www.health.state.ri.us will be posted answers to the most frequently asked questions.
GTECH settles suit with lottery director
WEST GREENWICH – GTECH Holdings Corporation has announced settlement of a civil suit brought against the company by Lawrence E. Littwin, former executive director of the Texas Lottery Commission. In settling the suit, GTECH agreed to pay Littwin $300,000 and his legal fees related to the suit although it denies any responsibility, liability or misconduct, or involvement in the decision by the lottery commission to fire him. Littwin had brought suit in U.S. District Court charging that GTECH had conspired with the lottery commission to have him fired from his job as executive director. As part of the settlement, Littwin agreed that he had no knowledge of any improper contact between GTECH and the lottery commission designed to have him fired. Furthermore, Littwin agreed to withdraw all complaints he had made against GTECH in the suit, including allegations of criminal activity.
