Side of the Rhode: Who’s Hot and Who’s Not? - October 14, 2022

HOT

Raymond "Two Hawks" Watson Offers Some Much-Needed Education

This week's column by GoLocal's MINDSETTER™ Watson provides a strong perspective on Indigenous Peoples’ Day.

"2022 Indigenous Peoples' Day is upon us. Rather than debate the merits of Indigenous Peoples' Day versus Columbus Day, I wanted to spend this week’s column sharing about the history of the American Indian nations of Rhode Island.

Given that the City of Providence Finance Committee is currently considering passage of the $10 million reparations budget, I think it is good to remind Rhode Islanders exactly what American Indians have endured and overcome dealing with the Ocean State.

READ MORE"

HOT

Allan Fung Taps Anti-Trump Republican

The GOP front-runner for the second congressional district seems to have finally read the memo that he needs to distance himself from Donald Trump craziness to win over independent voters.

On Monday, Fung brought in former Republican Governor of New Jersey Chris Christie.

Christie has become a near-constant critic of Trump and his impact on the country.

PHOTO: GoLocal

HOT

Fall in Rhode Island

The blistering number of great events this past weekend was a wonderful reminder of all that Rhode Island has to offer. 

From big crowds on Federal Hill to sand castle sculpting on Misquamicut State Beach -- it was a week to love the Fall and the four seasons in the Ocean State. 

PHOTO: GoProv

HOT

Rhode Islanders Recognized By US EPA

The 2022 Environmental Lifetime Award Winners are:

Lifetime Achievement

Judith Swift
University of Rhode Island Coastal Institute, Narragansett

Judith Swift, the retiring Director of the University of Rhode Island Coastal Institute, is a leader dedicated to interdisciplinary collaboration, science communication, and finding creative solutions to help ecosystems across New England.

Among the initiatives, she has led were the North Atlantic Coast Cooperative Ecosystem Studies Unit, a consortium of federal partners, universities, and nonprofit organizations; a network, allowing the use of URI personnel and resources for environmental emergencies; a state coastal and ocean magazine, where she was writer, editor, and co-publisher; a report analyzing 13 sectors in the Narragansett Bay watershed that rely on natural resources; and a federal program addressing the threat of PFAS to human health.

Lifetime Achievement

George W. Loomis
University of Rhode Island Cooperative Extension, Kingston

George Loomis will retire this fall after 36 years with the University of Rhode Island Cooperative Extension. A soil scientist by training, George dedicated his career to leveraging the latest scientific knowledge to advance the onsite wastewater treatment system field. George literally wrote the book on Onsite Wastewater Treatment: In 2018, he and Jose A. Amador published the book “Soil-Based Wastewater Treatment,” with essential information for onsite industry professionals.

Throughout his career George brought together politicians, developers, engineers, land surveyors, septic installers, septage haulers, septic and home inspectors, advanced technology vendors, realtors, and, most importantly, homeowners to change Rhode Island’s onsite wastewater treatment industry.
 

Lifetime Achievement

Meg Kerr
Audubon Society of Rhode Island, North Kingston

Meg Kerr, long a staunch advocate for the environmental movement, retired in 2021 after a career of climate leadership and service to the State of Rhode Island.

Raised in Westchester County by parents who were environmentalists even before Earth Day existed, Meg got her bachelor’s in marine biology at Brown University. After getting her master’s from the University of North Carolina, Meg began her career as a scientist. She worked for the Environmental Protection Agency across North Carolina, Virginia, and Washington, D.C., where she partnered with states to standardize water quality reporting aligned with the Clean Water Act. 
 
She then moved back to Rhode Island and quickly established herself as a prominent advocate for the environment, taking on roles at the Rhode Island Rivers Council, the Narragansett Bay Estuary Program, and Clean Water Action. Meg ended her career as senior director of policy for five years at the Audubon Society of Rhode Island. 

To add to the list of her accomplishments, Meg was a founder of the Rhode Island Green Infrastructure Coalition and helped launch the Providence Stormwater Innovation Center, a partnership between Audubon and six other organizations.

 

HOT

“Nashville-Inspired” Bar and Restaurant is Coming to a Well-Known Providence Location

A “Nashville-inspired” bar and restaurant is coming to a well-known downtown Providence location. 

“Moonshine Alley” has announced it is opening this fall.

The historic building was previously home to Hanley’s Ale House and McFadden's. 

According to the website, Moonshine Alley is “inspired by the love for the food, music, and culture of Nashville.”

Read more HERE. 

HOT

Home Loan Continues Its Growth

Home Loan Investment Bank held a ribbon-cutting ceremony to celebrate the opening of its third full-service branch. 

Mayor Frank Picozzi joined join Brian Murphy, Chairman and CEO, and other bank senior executives to officially cut the ribbon.

The local company is growing. 

HOT

Inspiration

Matt Sheaff is one of the top aides in Governor Dan McKee's communication office.

What people might not know is how over the past few years, he has transformed his health.

Just how much? He has run in back-to-back marathons in the past 60 days. Last weekend he completed the Chicago Marathon. He has lost more than 120 pounds.

"This year I set the goal to run back-to-back marathons for Team for Kids, a non-profit that supports youth fitness activities," said Sheaff.

If you are looking for inspiration for shifting from sedentary to marathon runner, Matt is your guy. 

NOT

Projo’s Parent Company Stock Has Dropped 78% in 8 Months — Announces More Cut to 401(k), Unpaid Work Days...

Gannett, the parent company of the Providence Journal and the Newport Daily News, is in economic chaos.

The company last month announced 400 layoffs and the elimination of 400 vacant positions. On Wednesday, the company announced the suspension of contributions to 401(k), employees to be forced to take five days off in December unpaid, and other significant cuts.

The Gannett stock has fallen from a 52-week high of $6.38 a share to a Wednesday close of $1.40.

In a memo to all employees across the 200 daily newspapers, Mike Reed, the CEO of the Virginia-based Gannett, painted a dark picture of the economic condition of the nation's largest newspaper group.

SEC filings revealed that CEO Reed earned $7,741,052 in 2021 – 160 times the median salary of a Gannett worker.

The impact of the announced reductions is unknown in Rhode Island as some employees work under a collective bargaining agreement.

READ THE MEMO BELOW

Team –

These are truly challenging times. The company continues to face headwinds and uncertainty from the deteriorating macroeconomic environment which has led the executive team to take further immediate action.

Before I share the specifics, I want to thank you all for your hard work and commitment. Whether you’re part of the Digital Marketing Solutions team, Gannett Media or USA TODAY Network Ventures, we will navigate this unpredictable climate by working together.

We pledged transparency – and while these actions are tough, I want to be explicit about what we’re doing and why. In order to sustain the mission of our company to empower communities to thrive, sustain local journalism and support small businesses with digital solutions, we need to ensure our balance sheet remains strong.

These are not decisions we made lightly, but they are critical for our long-term success. Here’s what you can expect:

401(k) Match Suspension
Gannett will temporarily suspend the 401(k) match for contributions made on or after October 24, 2022. This decision does not impact employee contributions, just the Company match. Employees may continue their contributions on a pre-tax basis, which reduces taxable income or on an after-tax basis to a Roth 401(k).
 

December Mandatory Leave
Employees must take 5 days of unpaid leave during the month of December. The mandatory leave will occur over a two-week period from December 19-30 (the holiday observance of Christmas will be paid). Teams will work with their managers to determine scheduling to ensure staffing and coverage as appropriate. HR will provide specific guidance to ensure FLSA compliance.  
 

Voluntary Severance Offer (VSO)*
We are offering to pay severance to an employee in exchange for their voluntary resignation and execution of a separation and release agreement. This program provides flexibility for those who may wish to transition. Employees interested in the VSO must express interest by October 18 and work through November 4, 2022. *In accordance with Gannett’s 2022 severance program.

Hiring Pause   
Gannett will cease overall hiring with the exception of key revenue and operating roles as well as positions deemed critical.
 

Voluntary Options 
The following options are also available to employees who wish to reduce their work hours or take an extended break to meet their personal needs.

Adjusted Work Week
Employees may request an adjusted work schedule with fewer hours, commensurate with a 20% reduction in compensation, and maintain full-time employment status. Please note this is not a compressed work week where employees work their normal schedule in fewer days.
 

Unpaid Sabbatical
Employees may request an unpaid sabbatical from 1 month to 6 months in duration. As an approved personal leave, employees may continue health benefits coverage by paying their portion of premiums directly to Fidelity.

This is a lot to process. This mix of temporary and permanent actions allows us the near-term flexibility we need to drive improvement while preserving our ability to quickly pivot as we see the economy and areas of our business progress.

I recognize that these decisions take a financial and emotional toll but mitigating these economic pressures now will benefit Gannett’s future. The days and weeks ahead will require close partnership with managers and our human resources team to support you as we implement these measures.

Our company is resilient, our people are the best in the industry and my confidence in what we can accomplish as Team Gannett has not wavered. If you missed the Town Hall where I address these actions, you can watch the replay via LINK. You may find additional information at LINK.

My sincere gratitude for all you do,
Mike

Please note that this information may or may not apply to you if you are covered by a collective bargaining agreement, represented by a union or work for an entity that is part of a Joint Operating Agreement.

The National Head of NewsGuild Criticized Reed's Leadership

The battle between Gannett and the media company's unions has been going on for months.

“Gannett’s journalists have lost faith in Mike Reed’s ability to lead the company,” NewsGuild-CWA President Jon Schleuss said in September. “Journalists hold all companies to account and that includes Gannett. We cannot let Wall Street continue to murder local news.”

PHOTO: Gannett

NOT

Inflation

The consumer-price index dipped slightly in September to 8.2%, but inflation for “core” products — housing, healthcare, food etc. hit a new 40-year high of 6.6%

The numbers released on Thursday morning sent stock futures down and are a nightmare scenario for the Biden White House less than three weeks before the mid-term elections.

The Dow Jones Industrial opened down more than 500 points.

Overall inflation climbed 8.2 % for the year through September -- only a slight decrease from the 8.3% recorded in August. The rate remains at near the highest level in the past 40 years.  

The implications are staggering.

The high inflation rate is likely to drive Federal Reserve Chair Jerome Powell to continue his rate hike strategy and will have a continued dampening effect on the stock market.