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Business news

While the meltdown of 38 Studios is certainly Rhode Island's top story for 2013, Swipely -- the company started by Angus Davis -- is showing how a smart entrepreneurial company can thrive in the Ocean State.

A survey of recent press:

Gigaom:

PROVIDENCE, RI – The recent numbers for hotel use in Providence were very encouraging. Hotel occupancies in Providence were up in June, as room rates approached pre-recession levels. "The Bottom Line" this week looks behind those numbers and attracting local convention business. This week's guest on "The Bottom Line" is Providence/Warwick Convention and Visitors Bureau CEO Martha Sheridan. Also joining the discussion is "Providence Business News" editor Mark Murphy. When to Listen
You can hear The Bottom Line each Friday at 5:50pm.

PROVIDENCE, RI – Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday it looks at business news and themes that affect local business and the public.

This week, Dave and Mark talk with Jeffrey Grybowski, chief administrative officer of Providence-based Deepwater Wind.

PROVIDENCE, RI – As the 38 Studios situation goes viral, how do people stay on top of this story and other complex financial news?

Joining Rhode Island Public Radio's Dave Fallon on The Bottom Line is Providence Business news editor Mark Murphy, and our guest is Edward Mazze, a professor at the College of Business Administration at the University of Rhode Island.

PROVIDENCE, RI – Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday it looks at business news and themes that affect local business and the public.

This week Mark and Dave mull over the steps that lead to the state's $75 million guaranteed loan to video game developer 38 Studios. The company is having serious money troubles and has asked the state for more help.

PROVIDENCE, RI – Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday it looks at business news and themes that affect local business and the public.

For this first edition, Dave and Mark sit down with Thomas Dougherty, VP at Nortek Holdings, Inc.

Providence, RI – Rhode Island continues to have one of the highest unemployment rates in the country and is one of only a handful of states with a jobless rate still in the double digits.

Providence, RI – Rhode Island's unemployment rate edged down slightly in April. As WRNI's Flo Jonic reports it's currently the lowest it's been in almost two years.

Rhode Island's seasonally adjusted unemployment rate for April was 10.9% - down one tenth of a percentage point from March. It's the first time in 21 months the rate has been below 11%. But it is still two percent higher than the national jobless rate.

Providence, RI – Providence's budget woes, and critics fire back against Governor Chafee's budget. That's part of the discussion this week on Political Roundtable. Here's our host, WRNI political reporter Ian Donnis.

Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. news@wrni.org.

I-95 as pictured in Providence. Photo by James Wyman

Providence, RI – Governor Lincoln Chafee used the backdrop of the Pawtucket River Bridge on Interstate 95 Tuesday to make the case for the transit funding plan in his budget.

Chafee wants to steer $12 million from the state general fund for each of the next five years to fund transit improvements. He says creating this regular funding source would allow the state to avoid borrowing and paying interest for costly improvements.

An entrance to Rhode Island College is pictured above. Photo by Alex Nunes.

PROVIDENCE, R.I. – Governor Lincoln Chafee has proposed a $10 dollar increase in funding for the state's higher education system. But it won't be enough to prevent tuition increases at two of the three state schools.

Tuition will remain the same next year at the Community College of Rhode Island. But students at the University of Rhode Island and Rhode Island College will have to pay more. Ray DiPasquale, the president of CCRI and the state Commissioner of Higher Education, says it's unclear how much more.

Governor Lincoln Chafee is pictured during his gubernatorial campaign. Photo by Louis Oppenheimer.

PROVIDENCE, R.I. – Governor Lincoln Chafee made his first budget address Tuesday night. For fiscal year 2012, the governor proposed financial aid to cities and towns, supporting the school funding formula, and a boost in higher education.

But Chafee also called for cuts, specifically $60 million to Health and Human Services, which will make up some 40 percent of the next state budget.

PROVIDENCE, R.I. – More women are entering homeless shelters due to unemployment and foreclosures in Rhode Island.

Crossroads Rhode Island, provider of services to the homeless, has released a report that found women are the fastest growing group of people facing homelessness.

Crossroads President Anne Nolan says that the issue of women and homelessness is a crisis that often gets overlooked.

Nolan notes that in Providence, a 41-bed women's shelter is consistently overflowing.

City Hall is pictured here. Photo by Alex Nunes.

PROVIDENCE, R.I. – The Providence financial reckoning becomes clear later this week. City Hall sources say Mayor Angel Taveras is expected to detail the dire condition of city government finances by Thursday.

The Taveras administration isn't saying anything on the record at this point; mayoral spokeswoman Melissa Withers is adamant about not confirming any projected deficit numbers.

PROVIDENCE, R.I. – A consultant says Rhode Island's tourism industry is losing market share to states that do a better job promoting themselves.

Mitch Nichols says the Ocean State has great attractions, but is getting out-marketed by Vermont, Maine, and New Hampshire. The Arizona-based consultant was hired by the state Economic Development Corporation.

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