Side of the Rhode: Who’s Hot and Who’s Not? - August 9, 2019
Analysis
Side of the Rhode: Who’s Hot and Who’s Not? - August 9, 2019
Now, we are expanding the list, the political perspectives, and we are going to a GoLocal team approach while encouraging readers to suggest nominees for who is "HOT" and who is "NOT."
Email GoLocal by midday on Thursday about anyone you think should be tapped as "HOT" or "NOT." Email us HERE.
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HOT
Jazz Festival
Once again, it was reaffirmed that Newport, Rhode Island is the place that the best jazz artists in the world want to play each summer.
Another brilliant year of jazz in Rhode Island.
HOT
Hamilton, Singleton, and Providence
Can we say homerun?
Lynn Singleton's vision and effort to bring Hamilton to Providence has turned into a mammoth success for the region and reaffirms him as the leader in the arts community.
Restaurants were up 50 to 100% in downtown during the three-week run that ends this weekend.
HOT
RI Commerce
Spreading the wealth like never before.
Rhode Island Commerce Secretary Stefan Pryor was joined last week by loan recipients, lending partners, and community officials to celebrate the state’s Small Business Assistance Program -- as the loan program recently administered its 100th loan.
The event was held at Machupicchu II on Chalkstone Avenue in Providence -- one of the program's loan recipients.
The Small Business Assistance Program, which began under Governor Gina Raimondo, is a state-backed loan program designed to help Rhode Island small businesses gain access to capital.
According to Pryor, 52% of the loans to date have gone to women and minority-owned businesses.
HOT
Old Time Baseball at Rocky Point
The Providence Grays are set to host the first-ever Rocky Point Historic Baseball Festival.
The festival will take place on Saturday, August 17 from 9 a.m. to 4 p.m.
Admission is free.
The Rocky Point Festival will take place on the site of the old amusement park that hosted the only Sunday baseball games allowed in New England from 1891-1917.
It will feature an opening ceremony and first pitch with father and son former MLB players Dave and Mike Stenhouse. Dave represented the Washington Senators in the 1962 All-Star game in his rookie season, while Mike played for the Expos, Twins, and Red Sox (1982-86).
Five vintage teams from the Northeast will play five games following the rules of 1884 and 1864 on two fields with action throughout the day.
The teams that are coming are the New York Mutuals, Connecticut Bulldogs, Dirigo BBC of Maine, and the Boston Union Base Ball Club as they join the Grays to inaugurate this festival.
Rocky Point Festival Schedule: Saturday, August 17, 9 AM to 4 PM:
9:00 AM Providence Grays v. Connecticut Bulldogs, 1884 (Field 1)
10:00 AM Boston Union v. New York Mutuals, 1864 (Field 2)
12:00 PM New York Mutuals v. Connecticut Bulldogs, 1864 (Field 2)
12:00 PM Boston Union v. Dirigo BBC, 1864 (Field 1)
2:00 PM Providence Grays v. Dirigo BBC, 1864 (Field 1)
HOT
CVS
CVS stock was 7.45% on positive second-quarter earnings news on Wednesday and up another 1.58% on Thursday.
The Woonsocket-based CVS posted a second straight quarter of what the Wall Street Journal called, “unexpectedly strong financial results, taking another step toward selling skeptical investors on its acquisition of Aetna Inc. as the health insurer drove much of the gains.”
“A month after CVS laid out to investors a plan to create a health-care giant that drives down medical costs and reaps rewards from a more-efficient health-care system, the company reported higher-than-expected profit and raised its earnings outlook for the year. CVS completed its acquisition of Aetna in November. CVS said profit in the quarter increased to $1.93 billion, or $1.49 a share, compared with a net loss of $2.56 billion, or $2.52 a share, a year earlier, when it recorded an impairment charge related to its long-term care business,” reported WSJ.
President and Chief Executive Officer Larry Merlo stated, “We posted strong second quarter results, with all of our businesses performing at or above expectations. These results demonstrate our ability to execute on our strategic priorities to accelerate enterprise growth as we seek to fundamentally transform the consumer health experience. Given our performance to date and our expectations for the remainder of the year, we are raising and narrowing our Adjusted EPS guidance range to $6.89 to $7.00.”
“We made meaningful advancements on each of the priorities we outlined at our Investor Day in early June to differentiate, transform and modernize the delivery of care. While still early, we remain confident that we will be able to realize the potential of our innovative and powerful new business model to deliver enhanced value to our clients and the consumers we serve.”
NOT
Hasbro's Ethics
First, Alan Hassenfeld pronouncing he had "no skin" in the IGT versus Twin River fight -- only to learn in a GoLocal story that Hassenfeld's Hasbro has a longstanding business contract with Twin River's proposed partner to replace IGT.
The Hassenfeld incident reminds us of former Hasbro CEO Al Al Verrecchia voting to fund 38 Studios when EA Sports was both a business partner with Hasbro and a partner with 38 Studios.
NOT
RI PBS
RI's local public broadcast station got caught straight out "union-busting." Now, the station is going to have to pay the price.
A three-judge panel of the National Labor Relations Board has ruled that Rhode Island PBS was coercive in its treatment of employees -- and tried to break a local union.
The sweeping decision orders RI PBS -- the local public broadcasting station -- to cease and desist from “coercively interrogating employees about their union sympathies.”
The decision orders RI PBS to fairly negotiate with the International Brotherhood of Electrical Workers, Local 1228.
The 17-page decision is the latest -- and may be -- the final setback for the Rhode Island-based public television station that the NLRB says has been trying to break the union.
NOT
Another Piece of Old RI Closing
Water Wizz is closing after 40 years.
Water Wizz of Westerly is closing after 40 years.
According to the Park’s Facebook page, Water Wizz will close at the end of the season.
“After forty years, Water Wizz Rhode Island will sadly be closing its doors at the end of the 2019 season. An aging infrastructure, the ever-increasing cost to operate a small, seasonal business, and still recovering from significant financial impact of Superstorm Sandy have all factored into owner Mike Kells difficult decision to close the park,” says the Facebook post.
Water Wizz is owned by Mike Kells.
“The Water Wizz family is humbled and grateful for your patronage. If you have the chance, stop by to get those last slides in before Labor Day, and share your Water Wizz memories with us,” concludes the post.
PHOTO: Water Wizz website
