Rhode Island full employment level continues
PROVIDENCE – With its unemployment rate reported at a record low level of 3.7 percent for the 15-month recovery period, Rhode Island maintained its level of virtual full employment through April, Prof. Leonard Lardaro of the University of Rhode Island reported. Rhode Island showed a Jobless Improvement Index of -0.1 percent, the difference between the March unemployment rate of 3.8 percent and the April rate. Still, Rhode Island’s rate is still the highest in New England, where Connecticut leads at 2.3 percent, the second lowest in the country, followed in order by Vermont, New Hampshire, Massachusetts, Maine and the Ocean State. The 3.7 percent level places Rhode Island 26th in the country.
GTECH reports new contracts
WEST GREENWICH – GTECH, Inc. reported it had signed new contracts with the operator of Brazil’s National Lottery to provide a broader range of services, Ivory Coast to provide products and processes for its lottery, and a long-term pact with Ohio to supply an integrated online and instant lottery system. The new contract with Brazil, which extends through January 2003, authorizes GTECH to provide Social Security payments, credit card transactions, tax transactions and traditional banking activities through its computer network. Under an eight-year facilities management contract with Ivory Coast, GTECH will install a fully integrated online system, including hardware, software and terminals. Under the new long-term agreement with Ohio, a state with which it has had a contract since 1984, GTECH will supply, install and maintain new equipment, provide retailer training, marketing support, field services and hotline services. Terms of the various contracts were not released.
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Truckers drew $195,000 from state fuel fund
PROVIDENCE – Thirty-nine independent truck drivers tapped into a state loan fund for $195,000 to help them meet rising diesel fuel costs between February 22 and May 22, Governor Almond’s office announced. A $500,000 fund established cooperatively by the governor and General Assembly was administered by the RI Economic Development Corporation using funds allocated by the Small Business Administration Loan Fund. The unused funds have been returned to the SBLF General Fund.
Four from R.I., one from Mass. finalists for award
BOSTON – Four Rhode Island executives and one Taunton man were finalists last week for the New England Entrepreneur of the Year awards. The Rhode Island finalists were Paul Choquette Jr., chairman and chief executive officer of Gilbane, Inc.; David Paolo, president and chief executive of Log On America; Robert Petrocelli, president of Heartlab, Inc.; and Marc Davis, president of UNICOM. From the Kopin Corporation in Taunton, Dr. John C.C. Fan, chairman of the company, was a finalist.
Fed approves Washington Trust acquisition
PROVIDENCE – The acquisition by Washington Trust Bancorp of Phoenix Investment Management Co. of this city has been approved by the Federal Reserve Bank of Boston. The $17.25 million all s-tock purchase was announced last April pending approval by the Fed. Based in Westerly, Washington Trust will include Phoenix investment as a separate unit in its trust and investment services. Phoenix Investment, however, will continue to operate under its own name.
Tobacco ads being pulled near schools
WARWICK – Responding to a new city ordinance that prohibits tobacco advertising within a half mile of any school in this city, sales representatives and store managers began pulling tobacco ads from outdoor display last week. The law that was signed by the mayor May 11 calls for a fine of $300 a day for any tobacco advertising visible from the street. Indoor advertising is not affected. Police say they will begin enforcing the audience July 1. In the meanwhile voluntary compliance has been encouraged.
Developer shows plans for station district
WARWICK – Using slides, posters and verbal comment, the Bullfinch Companies, the firm selected to develop the so-called Station District, made its first public presentation of its plans for the area between the T.F. Green State Airport and the planned Amtrak station. Bullfinch representatives told a half-filled city council chamber in the City Hall that its plans included a conference center, hotels, an office building and retail space, as well as a motion picture theater. A company representative said the objective is to begin construction next spring. Included in the development plans is a people mover to link the airport with the rail station, with intermediate stops along the way.
Hasbro affiliate buys Last Unicorn Games
PAWTUCKET – Wizards of the Coast, a Hasbro subsidiary announced that it has agreed to buy Last Unicorn Games, a Los Angeles publisher of games based on the “Star Trek” movies and “Dune” computer games. Wizards also announced it reached agreement with ESPN cable network to televise nine shows from the 2000 Magic: The Gathering, a trading game pro tour starting this month on the ESPN2 channel, the Providence Journal reported.
(Compiled from news reports and releases, print and electronic.)
