RI Biz Winners and Flops
Sunday, October 21, 2012
This week we see an amazing number of changes in media that point to a very different future. This “right before our eyes” transformation of traditional media is remarkable and transformative to how we live our lives and gain local information. The announced death of Newsweek Magazine coupled with the recent switch by the lead newspapers in New Orleans and Syracuse to print just three days a week changes the way some get there information.
For those under 45 years of age - the impact may not be relevant.
Providence-based LIN Media, owners of WPRI and Fox 64, promoted their General Manager Jay Howell to Vice President. LIN gave Howell the opportunity to invest in content and innovate. Something that few media companies are willing to do. The result, improved local news ratings that allow the once dormant Channel 12 to compete with Channel 10 for market leadership and innovation in pseudo-commercial shows like the Rhode Show.
Channel 12 will not be leader less. Pat Wholey steps up from sales to take over as General Manager and he is known as an emerging media management star.
Taco Industries – while many manufacturers are declining and exporting their jobs, John Hazen White continues to invest in Rhode Island. He finished an expansion to his Cranston facility a few months ago and this week he announced the acquisition of of Hydroflo Pumps of Fairview, Tennessee. Good news when the RI company is the buyer rather than the seller.
Betaspring together with Brown University, the Providence Chamber, and the University of Rhode Island have combined resources to launch the Founders League. The effort is designed to create an ecosystem of support for emerging companies.
“Over the next 12-weeks, the team will convene groups of entrepreneurs, mentors and community partners to solicit input on how the platform can be deployed to support the sustained growth of a strong entrepreneurial ecosystem in Rhode Island."
Flops:
This week it was announced that the State’s unemployment rate had dropped to 10.5%. Charlie Fogarty, Director of the Department of Labor and Training went to the media with a message of “right direction.” Lost is that unemployment is still hideously high and still second worst in the United States.
The expansion of Twin River will be a boon to RI’s economy and employment, but the fact that it is virtually the only plan being discussed during this election cycle is quite sad. With millions being spent on political advertising more focus on tangible programs would be welcomed.
If you have a company who should get recognition as a winner or a flop, email us at news@golocalprov.com
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Comments:
PO Taxpayer
9:07am on Saturday, October 20, 2012
The expansion of Twin River a Boon to the RI Economy? Are you kidding me? Perhaps the biggest flop of all is GoLocalProv's inability to hire a single journalist with even a passing acquaintance of economics .. Casinos do not create wealth ... State sponsored casino gambling is nothing more than a tax .... and a transfer of wealth from the poor/ lower middle class to the government. It does not create jobs, it kills them ... Anyone ever visit the Knowledge District in Atlantic City, NJ? Money otherwise spent on local business is instead spent on table games, slots etc ... Ever notice that there are no restaurants built near destination casinos? Twin River's repositioning their expansion as a jobs creation device is perhaps the single biggest scam in Rhody political history ... And the advertising funded "Media" is falling for it ... Then again, y'all thought 38 Special was a great idea as well ...
Howard Miller
10:51am on Saturday, October 20, 2012
Casinos do not create wealth maybe not but it does for those who get a job and stops them from losing everything they own
PO Taxpayer
12:58pm on Saturday, October 20, 2012
Mr Miller, while I can appreciate the need for someone who is out of work to find a job, any job (I am a middle aged man ... a hero for me is someone who will take any job, no matter what he was trained to do, to support his/her family), the reality is that Casino/Lottery Gambling is one of the causes of the difficult economic straits we in Lil Rhody find ourselves in ... Millions & millions of dollars, over all these years, sucked out of the economy, and instead directed to a bloated, corrupt government ... Imagine if just a fraction of the money spent on lottery/twin river had been spent on local businesses instead ... Gambling is the cause, not the cure, for what ills us ...
Howard Miller
2:02pm on Saturday, October 20, 2012
po i agree with you take any job problem is there are no jobs any jobs many years ago when i was in RI i had a ouple of customers at Quoinst Point after the Navy (pulled ) I use ti think what agreat spot for big business it had a port, airport and right near a major highway. I am still waiting. What company would want to come to a state as corrupt as Little Rhody If you want to protect people ban tobbaco booze and automobiles untill then roll the dice
jon paycheck
3:22pm on Saturday, October 20, 2012
i was originally pro casino..before thinking about it
after thinking about it, i vote no..
just more money to be flushed down the state toilet.
i would rather see that money spent in restaurants and real ri businesses
Howard Miller
5:21pm on Sunday, October 21, 2012
jon you are 100 % right problem is no matter where the money is spent the state will flush it down the toilet at least with expansion another 600 or so jobs will be the result
Captain Blacksocks
11:48am on Monday, October 22, 2012
I'm not pro-gambling. But unfortunately with RI surrounded by top notch casinos CT and soon MA, we either allow table gaming in RI or surrender many million$$$$ per year to MA and CT...plus all those RI jobs. Casinos don't help the economy a lot. They suck up lots of disposable income from the local economy, but it's also sucking money from the out-of-staters who visit RI. Casinos are a tax on the stupid, much like the state lottery. Not a very moral way to balance the RI budget, though not many other choices right now.
PO Taxpayer
12:46pm on Monday, October 22, 2012
Wow ... dont know how to simplify this ....
Casino Gambling is one of the reasons our Economy Stinks!
More Casino Gambling will make it even worse!
Out of staters will not drive by the new casinos to get to Twin River!
Most of the $$$ will come out of the pockets of Rhode Islanders!
Any questions?
Lance Chappell
11:02am on Wednesday, October 31, 2012
Until the mindset at the statehouse gets off gambling as their main objective for economic development, it will not advance forward.