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Rhode Island Biz Winners and Flops

Tuesday, September 24, 2013


Rhode Island's Real Estate market is on the rebound, start-ups are spawning and legacy media is taking its lumps are some of the biggest stories hitting Rhode Island.

In certain sectors of Rhode Island's economy there is not just signs of life, but of significant growth.


Startup Weekend: The initiative is a 54 hour event where designers, marketers, product managers, developers, and startup enthusiasts come together to share ideas, form teams, build products, and launch businesses. You can learn more about the benefits of attending a Startup Weekend here. Providence Startup Weekend will be held on October 18th at Betaspring. See a video from last year's event.

Real Estate Continues to Improve: Sales numbers released by the Rhode Island Association of Realtors show the median price of single family home sales hit a high for the year last month at $225,000.

More good news was that single family foreclosure and short sales dropped to 16 percent of total sales - excluding those distressed sales, the median price of homes rose to $245,000.
"We're in a good place. Right now, we're running on pent up demand but things will likely begin to moderate a bit. That's not a bad thing because we don't want to see another run of unsustainable appreciation which was in no one's best interest. We're feeling that the recovery is on a good track right now," said Victoria Doran, 2013 President of the Rhode Island Association of Realtors.

RI Foundation and RIEDC Team Up: The Rhode Island Foundation and the Rhode Island Economic Development Corporation (RIEDC) announced a partnership to engage business leaders to "build an action-oriented blueprint for improving the state’s economy."
The Foundation and the RIEDC will bring together representatives from eight industry sectors in order to develop action steps as well as inform and contribute to the state Division of Planning’s RhodeMap RI economic development planning process.

“Rhode Island’s unique size creates opportunities within our borders to expand and intersect business growth,” said Marcel A. Valois, Executive Director of the Rhode Island Economic Development Corporation. “There’s so much happening in the state, and this is an opportunity for us to bring together private business leaders in an initiative that will provide constructive input to the work being done by RhodeMap RI.”
A series of workshops will focus on facilitating private-sector-led discussions about the market opportunities for the sectors that were identified in the Economic Development Data Analysis conducted earlier this year by Fourth Economy Consulting for RhodeMap RI as well as ideas generated through the Foundation’s Make It Happen RI initiative.

Law Firm Growth: Providence law firm Duffy and Sweeney added three new attorneys. Is this another indication that the economy is coming back? 

Megan M. St. Ledger joins the firm's Litigation practice. Her experience spansf litigation, advisory, and regulatory matters, with a focus on commercial and intellectual property disputes.  She was an associate in the international law firm of Cleary Gottlieb Steen & Hamilton LLP, in its New York City office, and clerked for Judge James J. Brady of the U.S. District Court for the Middle District of Louisiana. She is a graduate of The Ohio State University Moritz College of Law (magna cum laude) and Providence College (summa cum laude). 

Christopher P. Matteodo joins the firm's Business Law practice. He has represented a range of public and private and mid-market companies in a range of business activities, including mergers and acquisitions, corporate finance, and securities compliance. He is a graduate of Boston College Law School (cum laude) and Trinity College (Phi Beta Kappa).
Gregory W. McIntosh also joins the firm's Business Law practice. He is a recent graduate of Suffolk University Law School in the JD/MBA program (cum laude). Prior to law school, He served as a Surface Operations Officer at the Naval Air Station in Jacksonville, FL and an Auxiliaries Officer in the Engineering Department at USS Bunker Hill in San Diego, CA. He is a graduate of the United States Naval Academy. He worked as an intern for the Federal Reserve Bank of Boston, the U.S. Securities & Exchange Commission, and on the staff of Congressman James J. McGovern.

StrategicPoint Investment Promotes Amey:  The firm promoted Derek M. Amey to Managing Director. Amey joins Richard Anzelone and Betsey Purinton as Managing Directors of the firm. Anzelone and Purinton have been Managing Directors of StrategicPoint since 2010.

Amey will expand his responsibilities in the Marketing and Technology departments. He will focus on the strategy and
development of new initiatives to help StrategicPoint enhance its reputation amongst Southern New England’s independent investment advisory firms.

“Derek and I have been working together for over 10 years and this promotion is well deserved.” said Richard Anzelone, J.D., Managing
Director and CCO of StrategicPoint. “I look forward to many more years.”

Leadership RI Grads: Kudos to the latest class of the leadership group. This years class includes:

• Jacques Afonso, Manager, Investment Management,  National Grid
• Nicole Benjamin, Litigation Associate, Adler Pollock & Sheehan P.C.
• Natalie Benkovich, Lead Business Analyst, AIPSO
• Timothy Benson, Vice President of Claims, Beacon Mutual Insurance Company
• Jake Bissaillon, Chief of Staff, Providence City Council
• Kenneth Burke, General Manager and Treasurer, Rhode Island Water Resources Board
• Mike Busam, Business Development Manager, Gilbane Building Company
• Ryan Campbell, Supervisor, Manager, Technical Program Manager, Naval Undersea Warfare Center, Newport
• Sean Carmody, Captain, Cranston Police Department
• Matt Cedor, Senior Director, Data Center and System Operations, GTECH Corporation
• Michael Coelho, Director of Teen Programs, Boys & Girls Club of Pawtucket
• David Corbett, Member, Baker Corbett & Geary LLC
• Gayle Corrigan, Deputy Director of Programs, RI Housing
• Al Dahlberg, Director of State and Community Relations, Brown University
• Susan Daly, Marketing Consultant
• Deirdre Denning Norton, Vice President / Site Director, WellOne Primary Medical and Dental Care
• Margaret DeVos, Executive Director, Southside Community Land Trust
• Henry Diaz, President & CEO, D&D Consulting Services, Inc
• Cicely Dove, Vice President of Family Services, Crossroads Rhode Island
• Christine Foisy, Business and Marketing Manager, House of Hope Community Dev. Corp.
• Angella Franklin, Director of Sales Operations, CVS Caremark
• Karen Fuerherm, Finance Director, GTECH Corporation
• Joe Gleason, Vice President of Business Development, Envision Technology Advisors
• Christine Goulette, Chief Operating Officer, Rhode Island Department of Health
• Anna Haas, Director of Community Engagement, Sojourner House
• Will Hill, Major, Rhode Island State Police
• Karen King, Managing Director of Administration, DiPrete Engineering
• Josh Klemp (CLRI '04), Executive Director, SkillsUSA Rhode Island
• Gil Lantini, Founder and President, Rhode Island Small Business Journal
• Dennis Leamy Jr., Marketing Coordinator, Amica Mutual Insurance Company
• Harvey Lee Jr., Sales Manager, Cox Business
• Michael Lester, On-Premise Manager, MS Walker
• Sarah Lobdell, Associate Director, University of Rhode Island Alumni Relations
• Derek Lombard, Director of Talent Development / Vice President, Embrace Home Loans
• Shawn MacDonald, Marketing Manager, Dimeo Construction Company
• David Macedo, Senior Assistant Vice President, Amica Mutual Insurance Company
• Julie Maguire, Senior RiskManager, RBS Citizens Financial Group, Inc.
• Christopher Marsella, President, Marsella Development Corporation
• Lisa Martinelli, Executive Counsel, RI Department of Transportation
• Patricia Melaragno, Director, Marketing and Public Affairs, Butler Hospital
• Colin Murphy, Owner, Providence Design
• Elizabeth Musgrave, Vice President, Human Resources, The Washington Trust Company
• Jim Nellis, Founder, waybetter media
• Julie Novak, Manager of Marketing and New Media Communications, Community College of RI
• Amy Oakley, Senior Associate, Roberts Carroll Feldstein and Peirce, Inc.
• Kate Pickman, Local Sales Manager, LIN Media - WPRI TV
• Matthew Plain, Partner, Taylor Duane Barton & Gilman, LLP
• Lisa Ranglin, Vice President, Bank of America
• Paul Roberti, Commissioner, RI Public Utilities Commission
• Bobby Rodriguez, Vice President and Chief Diversity Officer, Blue Cross & Blue Shield RI
• Jessica Salter, Director of Development, Amos House
• Dianna Shaw, Executive Director, Long Term Care Consulting / Self Employed
• Sam Slade, President, Employee Benefits, USI New England
• Andrea Sullivan, Vice President, Marketing/Branding, (add)ventures
• Keith Tucker, Casino Operations and Compliance Manager, Rhode Island Lottery
• Chris Vedro, Releationship Manager, TD Bank
• Doug Whiting, Vice President of Communications, Johnson & Wales University
• Jeff Wilhelm, Chief of Technology Officer, Envision Technology Advisors
• Carrie Zaslow, Program Officer, Local Initiative Support Corporation (LISC)


Providence's Ranking; Recent ranking from American City Business Journals rank Providence number 86 in the United States out of 102 cities ranked. So much for economic development in the Capital City.

Jobs and less jobs: The overall job numbers continue to be flat and the unemployment is going to take another hit with the recent announcement by Dallas-based A.H. Belo that they would layoff another 30 reporters and editors at the Providence Journal. In the past 12 months, the Providence Journal will have laid off more than 50 staffers. 


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