Business

By IAN DONNIS

PROVIDENCE, R.I. – Providence Mayor Angel Taveras yesterday created a five-member panel to assess the fiscal condition of Rhode Island's capital city.

Taveras says assembling a team of experts is an important part of strengthening Providence's finances. He calls it a difficult challenge and one faced by cities across the country.

By FLO JONIC

PROVIDENCE, R.I. – A couple Rhode Island grocery stores are about to close. Shaw's has announced it's closing five stores: three in Massachusetts and two in Rhode Island.

The Rhode Island stores affected are in Warwick and Johnston. The Massachusetts locations are New Bedford, Stoneham and Revere.

By THE ASSOCIATED PRESS

PROVIDENCE, R.I. – A spokesman for Rhode Island Gov.-elect Lincoln Chafee says Chafee and representatives of the Golden Gate Yacht Club all agree that Newport is the "natural home for the America's Cup."

Chafee met privately Thursday with team representatives and with Keith Stokes, head of the state's Economic Development Corp.

By ALEX NUNES

PROVIDENCE, R.I. – Faith leaders in the state are calling on the religious community, businesses and philanthropists to help address what they say is a shortfall in the number of beds available at emergency shelters.

Rev. Don Anderson, of the State Council of Churches, says people of faith should make donation at their local place of worship or to the Rhode Island Coalition for the Homeless.

By THE ASSOCIATED PRESS

PROVIDENCE, R.I. – Gas prices in Rhode Island have climbed for the fifth straight week to an average $3.06 per gallon for regular unleaded.

AAA Southern new England says in its weekly survey released Monday that the price of a gallon of gas rose two cents from last week.

Since this time last year, prices have risen 39 cents a gallon, up nearly 15 percent.

AAA says prices in Rhode Island are 11 cents above the national average of $2.95 per gallon.

By FLO JONIC

PROVIDENCE, R.I. – Years of planning and construction will become reality today with the start of commuter rail service from Warwick to Providence and on to Boston.

Rhode Island's two United States senators will join Governor Carcieri in a special train ride from Providence to Warwick this morning. When the train pulls up to the new intermodal facility at T.F. Green Airport the Pilgrim High School marching band will be playing.

By FLO JONIC

PROVIDENCE, R.I. – Remember all the detours caused by the Iway project? Well, something similar is about to start in Pawtucket.

A portion of Taft Street will be closed today in Pawtucket, the first of many road closures prompted by the replacement of the Pawtucket River Bridge. This section of road will remain closed for approximately three years.

Frank Corrao, project manager for the state transportation department, says the new Pawtucket River Bridge will not only be a functional, but aesthetic improvement.

By ALEX NUNES

PROVIDENCE, R.I. – At Roger Williams University in Bristol, water rushes into a bathtub-sized tank on a dock at Mount Hope Bay. Dale Leavitt, an associate professor of marine biology, removes a cover revealing quahogs and oysters.

"If you look in here, these are all baby oysters that we've reared up this summer," Leavitt says. "We like to think of them as about the size of a quarter."

By MEGAN HALL

Providence, RI – By MEGAN HALL
The Rhode Island Retail Federation is feeling optimistic about sales this coming holiday weekend.

Executive director Paul DeRoche says it's the first time in two years he's felt positive about sales on so called Black Friday, the day after Thanksgiving.

He's predicting a slight increase in purchases- up about 1.4% from last year. "Particularly in the technology field," DeRoche says. "I-Pads, I-Phones. I think we're going to be pleasantly surprised after Black Friday."

By FLO JONIC

PROVIDENCE, R.I. – Rhode Island has received $80 million from the federal treasury to help homeowners in danger of foreclosure.

The program, called the "Hardest Hit Fund," is now available in Providence and by December 1 will be available statewide.

The Hardest Hit Fund is expected to spare 5,000 to 10,000 Rhode Island families the indignity of foreclosure. It's a zero percent loan program with one important caveat: the loan is forgivable after five years provided the homeowner meets certain requirements.