HOT

Global Stage

Former Rhode Island Governor Gina Raimondo's trip to China this week was watched across the globe.

She was the top story on the front page of the Wall Street Journal and New York Times. “Everyone Wants to Talk to Gina Raimondo – Even China,” is the WSJ headline.

The Wall Street Journal writes, “Gina Raimondo is seizing her moment. The commerce secretary is heading to China this weekend for a four-day trip that will test her policy-making and diplomatic skills as well as her vision for what the Commerce Department can accomplish. A successful trip could help any ambitions Raimondo holds to advance in U.S. politics.”

An equally high profile in the NYTimes reports, “Gina Raimondo, the secretary of commerce, is heading to China on Saturday with two seemingly contradictory responsibilities: a mandate to strengthen U.S. business relations with Beijing while also imposing some of the toughest Chinese trade restrictions in years.”

HOT

New Airport Ad Complaint Hits a Congestion Nerve in Boston

A new ad campaign from Rhode Island International Airport highlights the growth of the number of direct flights leaving Warwick and reminds travelers of the traffic factor at Boston Logan’s airport.

The ad, running digitally and on TV, has drawn the ire of Boston’s top tourism official, Martha Cruff Sheridan.

The irony is not lost. Boston has never been shy about muscling the airlines to fly out of Logan rather than Rhode Island.

Now, Rhode Island's airport is competing -- and the folks in Boston are not appreciating the competition.

Boston already has the second worst traffic in the country which has been further exasperated by the repair work on the Sumner Tunnel this summer. 

The repair work is scheduled to return again next year.

Massachusetts transportation officials warned that traffic will be a nightmare.

HOT

Providence Place Mall

Thought to be dead and buried, Providence Place has shown some signs of life with a new restaurant and new clothing and sneaker stores.

Fogo de Chão takes one of the Mall's most high-profile locations. It opened this week.

There is still too much crime in and around the Mall, but these three announcements are a good sign.

HOT

Morgan’s New Book Brings Collegiate Gothic to All

GoLocal architectural critic Will Morgan is out with a new book.

His newest work is Academia — Collegiate Gothic Architecture in the United States.

"Academia provides the ultimate campus tour of Collegiate Gothic architecture across the United States, from Princeton and Yale to Duke and the University of Chicago. It tells the surprising story of how the Gothic style of Oxford and Cambridge was adapted and transformed in the United States, to lend an air of history to the country’s relatively young college and prep school campuses. And it shows how Collegiate Gothic architecture, which flourished between the Gilded Age and the Roaring Twenties, continues to define the popular image of the college campus today—and even inspire new construction, writes the publisher Abbeville Press.

This book is designed for multiple audiences.

“This is a volume that will be informative to specialists, but also a visual delight for the average reader. An indispensable addition to the field,” said John Wilmerding, Sarofim Professor of American Art, emeritus, Princeton University.

Morgan has become the leading voice for the residents of Rhode Island, calling out weak design, inappropriate scale, and projects that are void of creativity.

On the flip side, Morgan has praised union headquarters, Newport Hotels, and even marijuana retailers.

Morgan, an architectural historian, has taught at Princeton, the University of Louisville, and a number of other colleges. He is the author of Collegiate Gothic: The Architecture of Rhodes College and American Country Churches, among other titles.

HOT

Rhode Islander Is Chasing Her Dream to NY Fashion Week, One Shoe Design at a Time

East Providence native Marci Thompson says that fashion has “always been a passion” of hers since she was a kid.

“When the teacher was getting the class ready, I was doodling sneakers and clothes,” said Thompson. “I got the nickname ‘Shoes’ in middle school. I was wearing heels even back then.” 

On her own since the age of 17, Thompson worked her way through college — and then up the corporate ladder — but all the while, kept working on her designs. 

Now, she is heading to New York Fashion Week, and Thompson says her goal is to ultimately make a “career move.” 

This week, Thompson spoke with GoLocal about her path — and where she hopes to go. 

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NOT

Rhode Island's Business Partner

GoLocal has secured copies of financial documents that unveil that Brett Johnson, the head of Fortuitous Partners, has used his interest in the proposed Pawtucket soccer stadium project to secure personal loans in the secondary banking market.

Johnson and Fortuitous have been asking for tens of millions of dollars of taxpayer subsidies to fund a proposed minor league soccer stadium.

Johnson and his team claim they have raised $50 million -- a fraction of the cost of the $124 million stadium cost. The remaining portion of the project -- $74 million -- is slated to be paid for by the City of Pawtucket and state taxpayers. Construction on the Pawtucket stadium stopped abruptly in June due to non-payment. GoLocal caught on video contractors removing materials from the site. Johnson has more recently claimed to have raised additional capital, but has refused to release the names of investors.

In addition, in another loan, Johnson borrowed from a man who pled guilty for his role in a $1.3 billion Ponzi scheme, according to the Securities and Exchange Commission. 

According to UCC statements filed with the California Secretary of State, Johnson borrowed monies from Pasadena Private Finance and used the Pawtucket project as collateral.

A UCC filing is a form of notice that lenders use when securing a borrower’s loan with an asset or group of assets. This enables lenders to seize the listed property to recoup loan funds in the case of borrower default. UCC filings may cover an individual piece of collateral, or a lender can list all of a business’s assets and then only repossess what is necessary to pay off the defaulted loan balance.

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Pawtucket Schools - Teacher Absenteeism

As GoLocal reported this week, Pawtucket had four of the top five schools for chronic teacher absenteeism in the 2021-2022 school year, with Goff Middle School at 47.7%; Shea High School at 45.8%; Slater Middle School at 41%, and Tolman High School at 40.3%

Representatives from Pawtucket did not respond to requests for comment on leading the state for chronic teacher absenteeism. 

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24-Hour Shooting Gallery: High School Football Games, MLB Baseball Games, Festivals & Dollar Stores

In less than 24 hours in America, the following shootings received media coverage -- this is only a partial list of the mass shootings across America. 

— Chicago, IL: Two women were wounded in a shooting at Guaranteed Rate Field on Friday night during a game between the White Sox and the Oakland Athletics in Chicago, according to police.

— Choctaw, OK: A 16-year-old boy was killed and four others were injured in a shooting at a high school football game.

— Boston, MA: Eight people were injured Saturday morning in a shooting at the Caribbean Festival.

— Denver, CO: A man was shot by police in Colorado after a road rage shooting and a hostage situation, authorities said.

— Jacksonville, FL: Three people were gunned down in a racial incident in which a white man targeted back shoppers at a Dollar Store on Saturday.

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CVS' Numbers

The list of the 20 highest-paid S&P 500 healthcare CEOs is out, and CVS’ Karen Lynch comes in as the 12th highest in the sector.

She is paid -- not counting her pension or deferred comp, more than $21 million. And according to a calculator developed by the AFL-CIO, Lynch makes 380 times the median salary of a CVS worker.

This is while the company has announced 5,000 corporate layoffs. Hundreds are being laid off in Rhode Island presently.

CVS is one of Rhode Island's largest for-profit employers.

Underperforming Stock

The CVS stock is performing near its 52-week low [$64.62] and 35% lower than is 52-week high of $104.83. Monday, CVS' stock closed at $67.24.

NOT

Despite $120M Gap, Diocese to Pay $2.5M in St. Joseph Pension Fund Settlement With Retirees

In a statement announced on Wednesday afternoon, parties tied to the failure of the St. Joseph pension fund announced that the Diocese of Providence will settle the case for just $2.5 million.

The settlement is a fraction of the amount that many thought the Diocese was liable for.

The St. Joseph pension fund collapse is the largest failure in Rhode Island history and impacted 2,700 plan members. The shortfall was estimated to be in excess of $120 million.

The receiver, Stephen Del Sesto, told GoLocal that the settlement, if approved by a critical federal agency, would ensure that pensioners receive their full benefits.

"As the receiver, [I am] to save the pension regardless of how that happens -- so then I have done my job," said Del Sesto in a phone interview with GoLocal on Wednesday.

But, the federal approval is an "if."

In previous years, Del Sesto and special investigator Max Wistow alleged in a federal and state lawsuit that the Diocese was guilty of perpetrating a complex fraud that caused the failure.

Wistow did not respond to a request for comment on Wednesday. 

For decades, St. Joseph Health was owned by the Diocese of Providence and then it turned over the hospital to CharterCARE in 2010, but still held certain rights. During those years, it is clear that the Diocese failed to make proper pension contributions.

In 2014, Prospect of California purchased CharterCARE and that deal was blessed by then-Attorney General Peter Kilmartin.

At the time of the agreement in 2014, Kilmartin said, “The transacting parties have worked diligently to provide regulators with the necessary documentation and information throughout this review process to make this decision, a decision I believe is in the best interest of Rhode Island’s healthcare marketplace, the community, the employees, and most importantly, the patients.”

Kilmartin said in his statement, “Conducting a hospital conversion review requires the commitment of a substantial amount of resources for the Office of Attorney General. I commend my staff for the time and careful consideration put into this review process.” 

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