Although investors in 38 Studios were promised prior to the closing of a $75 million state loan guaranty in 2010 that IBM would offer independent third-party monitoring of the company and its performance, IBM didn't sign a contract to provide that monitoring and independent oversight was never put in place, according to testimony presented last week to a legislative committee.
The owner of the vacant Industrial Trust Building -- aka the Superman Building -- submitted a bid in response to a state RFP for 70,000 to 80,000 square feet of office space.
Bill Fischer, a spokesman for High Rock Development, says the bid was submitted in time for a June 3 deadline. "We wanted to keep any and all options open," Fischer says. "We did respond," even though High Rock continues to believe that a residential conversion offers the best future for the historic structure.
Moderate Party gubernatorial candidate Ken Block says the speed with which the House Finance Committee votes on an $8.2 billion budget -- just hours after learning the details -- is a backwards way of doing things.
As Block notes in a news release, Tuesday's committee vote on the budget stands in contrast to the typical hearing process:
The Young Democrats of Rhode Island are slapping the older Democrats in their party who run the Statehouse. In a statement, the Young Democrats take issue with the proposed state budget for the fiscal year that begins July 1 that won House Finance Committee approval.
While the group ``commended’’ the Assembly for adding money for the state’s school funding formula and restoring funding for developmentally disabled citizens, the Young Democrats skewered other budget priorities.
The Rhode Island Supreme Court has rejected an attempt by the union representing Providence teachers to control health insurance premiums paid by retired city teachers.
In an opinion authored by Justice Maureen McKenna Goldberg, the court upheld a Superior Court decision that ruled that the union’s contract with the Providence School Board allowed the board to charge retired teachers more for health care premiums than active teachers.
It appears that New York Mayor Mike Bloomberg, a billionaire media mogul, has switched his affinity from Gov. Lincoln Chafee to RI General Treasurer Gina Raimondo in the 2014 Ocean State campaign for governor.
There’s an old chestnut in banking: If you owe the bank $10,000, the bank owns you. If you owe the bank $100 million, you own the bank.
That’s pretty much what has happened in Rhode Island state government’s quest to regulate the state-sponsored gambling emporiums at Newport Grand and at Twin River (aka Twin Rivahs in Vo Dilundese) in Lincoln.