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Providence Journal (Free subscription) | 12/01/2009
By Paul Grimaldi PROVIDENCE, R.I. -- Rhode Island's East Side Clinical Laboratory has been purchased by an Australian healthcare company for an undisclosed sum, according to a statement from Sonic Healthcare Ltd. East Side provides medical testing services to residents in and around Rhode Island. A Providence woman, Esther E. Brintzenhoff, founded East Side Clinical in 1949, after leaving...
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Providence Journal (Free subscription) | 12/01/2009
By Paul Grimaldi PROVIDENCE, R.I. -- U.S. Rep. Michael Capuano , a candidate for the U.S. Senate in Massachusetts, appeared with U.S. Rep. Patrick Kennedy Tuesday afternoon for a news conference on consumer legislation. But despite being pressed by a group of reporters, some of whom had followed Capuano from Boston, Kennedy declined to formally endorse Capuano's bid to fill the seat vacated...
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Providence Journal (Free subscription) | 11/30/2009
By Paul Grimaldi CRANSTON, R.I. -- A closely held Cranston bank announced Monday that it has agreed to be acquired by a private investment group for an undisclosed sum. The nine-branch Domestic Bank, which has its headquarters on Reservoir Avenue in Cranston, was founded In 1967. The bank said that it is under contract to sell itself to an investment group led by Nicholas Lazares, a former...
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Providence Journal (Free subscription) | 11/19/2009
By Paul Grimaldi The owner of the Providence Place mall said Thursday that it has reached a deal with some of its lenders, allowing a number of its shopping centers to exit bankruptcy by the end of 2009. General Growth Properties Inc. (GGP:NYSE) filed for Chapter 11 bankruptcy protection in April 2009, after failing to persuade a majority of its debt holders to give it more time to refinance...
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Providence Journal (Free subscription) | 11/17/2009
By Paul Grimaldi The number of shoppers planning to buy Christmas and Hanukkah gifts with cash or debit cards in 2009 is expected to rise, according to a survey released Tuesday by the National Retail Federation. One quarter of U.S. shoppers said they expect to use cash, up 9.1 percent from the November-December period of 2008. The number of shoppers using credit cards is expected to...
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Providence Journal (Free subscription) | 11/16/2009
By Paul Grimaldi MASHANTUCKET, Conn. -- Foxwoods Resort Casino and MGM Grand at Foxwoods on Thursday reported a 4-percent decline in slot revenue in October, netting $54.8 million for the month. "Despite the fact that we've seen a slight decrease in revenue compared to October of last year, our near 100 percent occupancy rates demonstrate that we continue to attract consumers,"...
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Providence Journal (Free subscription) | 11/16/2009
By Paul Grimaldi While the bankers who financed the transformation of the old Lincoln Greyhound Park into the Twin River slot parlor may still be out hundreds of millions of dollars, lawyers and other consultants to the gambling venue's bankrupt holding company are lined up for a big payday. On Friday, about 10 law and accounting firms submitted requests to be paid more than $2.2 million,...
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Providence Journal (Free subscription) | 11/12/2009
By Paul Grimaldi By Paul Grimaldi Journal Staff Writer PROVIDENCE, R.I. -- A U.S. trustee is objecting to the settlement agreement between the holding company that operates the Twin River slot parlor and the greyhound owners association that provides dogs for racing in Lincoln. The agreement announced in October ends Rhode Island Greyhound Owners Association's part in racing...
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Providence Journal (Free subscription) | 11/12/2009
By Paul Grimaldi The Federal Reserve, responding to criticism that it hasn't moved quickly enough to address abusive consumer lending practices, on Thursday issued new rules limiting the instances in which financial institutions can charge overdraft fees on debit-card transactions. The rules will take effect next summer and come as Congress considers similar restrictions on fees related...
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Providence Journal (Free subscription) | 11/12/2009
By Paul Grimaldi PROVIDENCE, R.I. -- The Twin River slot parlor has asked a federal bankruptcy judge for permission to hire the former president of an Indiana casino company to oversee operations at the Lincoln gambling venue. John J. McLaughlin would advise financially troubled Twin River on how to improve its operations in advance of a potential sale, according to filings with the U.S....
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Providence Journal (Free subscription) | 11/10/2009
By Paul Grimaldi The New York attorney general said Tuesday that Woonsocket-based CVS Caremark Corp. (CVS:NYSE) has agreed to pay $875,000 to settle charges that it sold expired products at its stores in that state. New York Attorney General Andrew Cuomo initiated legal action in 2008 against CVS after a survey by his office found expired products at 60 percent of CVS stores visited,...
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Providence Journal (Free subscription) | 11/12/2009
By Paul Grimaldi PROVIDENCE, R.I. -- A Rhode Island woman is suing Citibank, claiming the financial giant is trying to squeeze money out of its credit-card customers in advance of changes in federal law due to take place in February 2010. The lawsuit filed in U.S. District Court earlier this week by Providence lawyer Peter N. Wasylyk on behalf of Portsmouth resident Michol K. Murphy states...
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Providence Journal (Free subscription) | 11/09/2009
By Paul Grimaldi LINCOLN, RI -- The Twin River slot parlor in Lincoln said Monday it will begin operating 24 hours a day, seven days a week beginning Thursday, Nov. 19. Earlier in November, the Rhode Island Lottery director gave the financially troubled gambling venue permission to extend its operating hours. The current hours of operation are 9 a.m. to 3 a.m. Monday through Thursday,...
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Providence Journal (Free subscription) | 11/06/2009
By Paul Grimaldi WOONSOCKET, R.I. -- Woonsocket-based Summer Infant Inc. has been hit with a potential class-action lawsuit, the consumer goods maker disclosed Friday in a federal regulatory filing. The complaint filed with the Circuit Court for Cook County, Ill., alleges that Summer Infant failed to properly warn consumers that signals from its video monitors could be viewed outside...
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Providence Journal (Free subscription) | 11/06/2009
By Paul Grimaldi The National Retail Federation warned consumers this week about buying certain health and beauty products, as well as certain foods through online auction sites because of suspected health hazards associated with improper storage of such items. The federation first issued warnings in 2008 about items such as baby formula, Benedryl and pregnancy tests available on online...
