$18 million in RI projects in Senate-approved bill
WASHINGTON, D.C. – The Senate completed legislative action on the Transportation Appropriations bill for Fiscal 2002, which includes $18 million for five Rhode Island projects. The bill, which had already been approved by the House, awaited the President’s signature at press time. The Rhode Island projects are $5 million for the commuter rail layover facility in Pawtucket; $5 million for repair of the Washington Bridge linking Providence and East Providence; $4.5 million for new equipment for the Rhode Island Public Transit Authority; $2 million for job access and reverse commute grants; and $1.5 million for extension of the Blackstone River Bikeway.
GTECH gets new pact with Kansas Lottery
WEST GREENWICH – GTECH Holdings Corp. announced that it had won a new six-year contract with the Kansas Lottery worth $35 million. The contract calls for GTECH to supply online lottery equipment and services to the Kansas Lottery for more than 10 years, the company’s chief executive, Howard Cohen announced.
Immunex breaks ground for new facility
WEST GREENWICH – Edward Fritzky, chief executive officer of Immunex Corp., presided recently over a ground-breaking ceremony for the company’s new $500 million drug-making facility. The new plant, which is an expansion and modification of an existing plant, will be used for the production of Enbrel, used to treat rheumatoid arthritis. The company has predicted approval by the FDA for this production by the second half of next year. When that gets started, Immunex says it will employ 350 workers, but by 2005 that number is expected to swell to 700 as the company plans to have completed its new biotech manufacturing facility. In January, Immunex will take possession of a 250,000-square-foot manufacturing facility next to the new plant it is developing.
Luxury waterfront homes being sold by de Savary
PORTSMOUTH – Twenty waterfront homes, valued between $500,000 and $3.5 million are being sold by Peter de Savary and his Carnegie Abbey Club resort, Bloomberg News reported. Bloomberg, quoting the Wall Street Journal, reported five of the homes had been sold. Purchase of the homes is restricted to members of the Carnegie Abbey Club. The club has leased 350 acres overlooking Narragansett Bay for 99 years from Benedictine monks who run the Portsmouth Abbey, an exclusive school. In addition to the luxury homes and condos now under construction, the club has built a Scottish style golf course. Membership in the club costs $130,000, plus annual dues of $7,500.
Bennett resigns Convention Center post
PROVIDENCE – James S. Bennett, president of Mitkem, an environmental testing company, has resigned his post as chairman of the Rhode Island Convention Center Authority. Bennett has been mentioned as a possible contender for the Republican nomination for governor for the 2002 election campaign. Domenic L. Ragosta, vice chairman of the authority, will preside over board meetings until Bennett’s successor is appointed, the authority announced in a statement. Bennett, who acknowledges that he is considering running for the governor’s office, has yet to announce his candidacy, was appointed to the authority in 1995 by Governor Almond and became chairman in 1999
Journal’s buyout proposal accepted by 90 employees
PROVIDENCE – Ninety of the 180 employees offered incentive-based, voluntary buyouts by The Providence Journal have accepted the offer, the Providence Newspaper Guild, which represents the employees, announced. Advertising volume at the newspaper, which is owned by Belo, Inc. of Dallas, Texas, declined by 32 percent in the last year, the company announced.
Citizens completes purchase of Mellon properties
PROVIDENCE – Citizens Financial Group, Inc. announced that it had completed its purchase of the retail, small business and some middle-market commercial banking businesses of the Mellon Financial Corporation. The purchase includes 345 bank branches in Pennsylvania, New Jersey and Delaware, about 120 of which are in the Pittsburgh area. To administer this acquisition, Citizens has established headquarters in both Pittsburgh and Philadelphia. Citizens paid $2.1 billion for the purchase. Citizens announced that virtually all of the 4,000 Mellon Bank employees involved in the acquisition are being retained.
Cox retains link to Internet for customers
CRANSTON – Cox Communications announced that it had reached an agreement with Excite@Home and its creditors to continue its link to the Internet for its 555,000 Cox@Home and 20,000 commercial business customers until Cox completes its own high-speed network connection. Under the terms of the agreement, Cox will pay Excite @Home $160 million for three months of uninterrupted service. The agreement affects about 25,000 Cox customers in Rhode Island who are tied into the Internet through Cox. But it also remains subject to approval by U.S. Bankruptcy Court in San Francisco.
(Compiled from news reports and releases, print and electronic.)
