Side of the Rhode: Who’s Hot and Who’s Not? - August 9, 2024
Analysis
Side of the Rhode: Who’s Hot and Who’s Not? - August 9, 2024
Every Friday, GoLocalProv takes a look at who is rising and who is falling in Rhode Island and national politics, business, culture, and sports.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST
We have expanded the list, and we are going to a GoLocal team approach while encouraging readers to suggest nominees for who is "HOT" and who is "NOT."
Over the past 14-plus years, more than 7,000 have been tagged as HOT or NOT.
Email GoLocal by midday on Thursday about anyone you think should be tapped as "HOT" or "NOT." Email us HERE.
Side of the Rhode: Who’s Hot and Who’s Not? - August 9, 2024
HOT
More, More, More
The Rhode Island Airport Corporation (RIAC) received the news that Breeze Airways will launch new service to Daytona Beach, Florida, and to Wilmington, North Carolina, from Rhode Island T. F. Green International Airport in 2025.
Service to both Daytona Beach (DAB) and Wilmington International Airport (ILM) will begin on Friday, February 14, 2025, with service available weekly on Mondays and Fridays.
“Providence has been a fantastic market for us, and we continue to see more opportunities for growth,” said David Neeleman, Breeze Airways’ Founder and CEO. “As TF Green’s largest commercial carrier by destinations, we’re happy to be bringing more routes with our affordable, elevated, and premium leisure service.”
The airport has been on a nonstop roll, with new direct flights and continuing to win top-tier awards. In July, PVD was ranked #2 out of more than 500 commercial airports in the United States, making it the only airport in the Northeast to be ranked among the Top Five.
“Rhode Island T. F. Green International Airport is proud to serve as one of Breeze Airways largest base of operations, and we are thrilled to have new nonstop connections to Daytona Beach and Wilmington,” said Iftikhar Ahmad, President and CEO of the Rhode Island Airport Corporation. “These two popular east coast destinations will be welcome additions to Breeze Airways growing nonstop service for Southeastern New England.”
RIAC Board Chair Jon Savage in PHOTO: GoLocal
HOT
Downtown, Downtown, Downtown
Adler Pollock & Sheehan P.C. (AP&S), one of Rhode Island’s largest law firms, is relocating its headquarters to 100 Westminster Street in downtown Providence. The firm, which was founded in 1960, was previously located in the Citizens Bank Tower.
The new location is a win for Paolino Properties.
The new office location represents a strategic shift "from a little bit of an island into the heart of the capital City," said AP&S' managing partner Bob Brooks.
“We are excited to move into our new home at 100 Westminster Street," Brooks added. “This move reflects our commitment to the capital city and positions us to better serve our clients with enhanced facilities and technology.”
HOT
Up, Up, Up
Residential Properties Ltd. announced the sale of 122-124 Riverside Drive in East Providence for $1.3 million.
According to statewide MLS data, this is the highest residential sale in East Providence ever recorded.
HOT
Shoot, Shoot, Shoot
Kevin Stacom, Providence College great and GoLocalProv Sports Analyst has the take on the best of the best power and small forwards in Friars' history.
PHOTO: Ryan Gomes, PC
NOT
Media Mayhem - Chop, Chop, Chop
Axios cut 10% of its workforce.
"The Tampa Bay Times announced it was offering buyouts to employees in an effort to reduce its headcount by 20%. The Times will implement layoffs at the end of the month if it does not reach its goal through buyouts," according to Poynter.
And, Media Post reported:
The Fort Worth Star-Telegram has joined the parade of daily newspapers cutting back its print schedule.
“Beginning Oct. 7, “the Star-Telegram will reduce print publication to three days a week,” writes Steve Coffman, the president and editor of the Star-Telegram. “Print subscribers will receive Wednesday, Friday and Sunday editions of the newspaper, and they will be delivered through the U.S. mail. (That means the Sunday edition will actually arrive on Saturday). The paper will also be available at select retail locations.”
NOT
Bad, Bad, Bad News in Woonsocket
"For the fourth time in nine months, the company cut its 2024 earnings guidance, which it blamed on its Medicare woes. CVS now expects adjusted earnings per share to be in a range of $6.40 to $6.65 this year; just three months ago, it told investors to expect $7 a share. The new earnings target is down 23% from its original forecast of at least $8.50 a share back in December," reports the WSJ.
"CVS on Wednesday said it has a plan to cut $2 billion in costs over several years by streamlining its business operations, rationalizing its business portfolio and speeding up its use of artificial intelligence and automation," WSJ wrote.
For CVS CEO Karen Lynch, are the sharks circling?
NOT
Slice, Slice, Slice
GoLocal has learned that a number of top staff members at the Newport Art Museum have left through resignation or have been laid off.
The total number is not known, but according to multiple sources with direct knowledge and a comparison of the employee directories, numerous key individuals have left the Museum, founded more than 110 years ago.
According to publicly facing tax filings, the Museum has been running significant financial losses for years.
Since May, four of the top 14 senior staffers are no longer listed on the directory.
According to the Museum, it was founded on the “belief that art is a civilizing influence and an essential component to creating vibrant communities. Charter members included Gertrude Vanderbilt Whitney, Pulitzer-Prize winning author Maud Howe Elliott, Louisa Sturtevant, and other artists and intellectuals.”
Now, it is in a period of financial and personnel transition.
Some tell GoLocal that the loss of key members of the curation department is devastating.
Specifically, since May, former staffers who are no longer listed on the directory include the long-time Director of Curatorial Affairs and Chief Curator Francine Weiss, who had been at the Museum for eight years.
NOT
Incompetence, Incompetence, Incompetence
The adverse economic impact of the failure of the Washington Bridge is only now emerging.
The Rhode Island Department of Transportation's failure to properly maintain and oversee vendors is costing Rhode Island's businesses millions of dollars.
Last weekend, GoLocal reported that Bally’s President, George Papanier, told Wall Street analysts and investors in the second quarter earnings call that the Washington Bridge’s failure and the impact on traffic are impacting the business in Rhode Island.
Lost revenue for Bally's in Rhode Island also means less money for Rhode Island's budget. Bally's lost $60 million in the second quarter.
Papanier said during the investor call, "We [Bally's] have general stability across our portfolio with a few exceptions. Visitation to our Rhode Island properties, particularly Lincoln, was again impacted by the Providence Bridge [Washington] disruption on Interstate 195,”
“A critical connection between Rhode Island and Massachusetts, this has led to lane closures that disrupt traffic during peak periods. This situation will continue for the foreseeable future," he continued.
Impact on Rhode Island
For Rhode Island's budget, the impact of loss of revenue to Bally's Lincoln and Tiverton casinos due to the bridge failure will mean the loss of millions to the state. Rhode Island receives 61% of all slot machine revenues and 18% of all table game revenues.
