Side of the Rhode: Who’s Hot and Who’s Not? - July 27, 2018

HOT

Blockchain

Nearly 100 of the top Blockchain entrepreneurs, innovators and financiers were in Providence on Thursday at the Blockchain Summit at Providence's Omni Hotel.

The day-long event featured presentations by industry leaders and conversations with top state officials including Governor Gina Raimondo, Speaker of the House Nick Mattiello, and Stefan Pryor. For the emerging, multi-billion dollar industry Rhode Island has a lot to offer - between NYC, Boston, and international flights from T.F. Green.

GoLocalProv was one of the sponsors of the event.

HOT

Twin River

It was a busy week of mergers and acquisitions in Rhode Island. The week started off with the Sunday announcement by Twin River.

Rhode Island’s ever-changing gambling industry just got shaken up even more with the announcement Sunday that Twin River is merging Dover Downs Gaming & Entertainment and Twin River Worldwide Holdings, who announced that they have entered into a “definitive merger agreement.” This year the RI General Assembly approved sports betting in RI and in September, Twin River's Tiverton facility is scheduled to open.

The proposed transaction will transform Twin River into a publicly traded company with strategically placed gaming and entertainment holdings throughout the United States, claims the companies.

The combined company is going to be headquartered in Rhode Island, according to a company spokesperson on Sunday night. 

HOT

UNFI

RI-Based United Natural Foods, Inc. (UNFI) has acquired Supervalu for approximately $2.9 billion.

UNFI has been a large supplier to Whole Foods and that relationship was in change since Whole Foods was purchased by Amazon.

"This transaction accelerates UNFI's "Build out the Store" growth strategy by immediately enhancing our product range, equipping us to bring an attractive, comprehensive product portfolio to an expanded universe of customers. Combining our leading position in natural and organic foods with SUPERVALU's presence in fast-turning products makes us the partner of choice for a broader range of customers.” said Steve Spinner, UNFI's Chief Executive Officer, and Chairman.

HOT

Upserve

Providence-based Upserve announced the acquisition of the inventory management platform SimpleOrder, which will now become Upserve Inventory.

"By acquiring SimpleOrder, Upserve brings the industry's best-in-class inventory solution to Upserve's comprehensive restaurant management platform, the magic ingredient that helps restaurants boost profitability. Customers using Upserve Inventory save 30-50 hours every month and report 5-8% improvement in their margins. Simply put, if your restaurant doesn't have it, your profit margins are suffering,” said Angus Davis, CEO and Founder of Upserve.

SimpleOrder will continue to operate outside the United States as SimpleOrder by Upserve.

"We're absolutely thrilled to be teaming up with a forward-thinking company like Upserve to realize the vision of an end-to-end solution for the restaurant industry," said SimpleOrder CEO and co-founder Guy Even-Ezra.

HOT

Joseph Molina Flynn

One of Providence's top thinkers joins GoLocal as a regular contributor -- our newest MINDSETTER™.

Molina Flynn is a family & immigration attorney with offices in Boston & Providence. He is the current president of the RI Latino Pac and the RI Latino Civic Fund. 

A big thinker. He will get people thinking about the biggest issues. Read his first piece HERE.

NOT

Sean Spicer

Former Trump Press Secretary Sean Spicer’s Rhode Island book tour has hit a bump at BJ’s Wholesale Club in Seekonk. The book signing event scheduled for Saturday, July 28 was called off.

However, Sean Spicer’s official book tour website still lists the event alongside other scheduled appearances in the area. Spicer is still set to appear at Barnes and Noble in Middletown on Friday, July 27, as well as a public book signing event at Barrington Books and a book launch party on Saturday, July 28. General admission tickets to the party are free, though VIP tickets that come with signed books and other perks can be purchased for $100-$1,000.

Spicer, a Barrington native, graduated from Portsmouth Abbey School in 1989. 

NOT

Elmhurst Rehabilitation & Healthcare Center

Don’t get old and sick at Elmhurst Rehabilitation & Healthcare Center — they will get rid of you — at least if you are a cat.

The daughter of a nurse at the Elmhurst Rehabilitation & Healthcare Center in Providence is claiming the new administration is trying to kill two resident cats -- which Elmhurst is calling "misinformation" but refusing to say what will become of the felines. Late on Monday, a Boston-public relations firm forwarded a statement from the corporation admitting the some of the cats were being removed.

"My mom works as a nurse at Elmhurst Nursing Home and the new administration wants to kill 2 of the resident cats. One is elderly and she does have stomach issues, but the vet gave her a clean bill of health. They also want to kill a younger cat named Junior. Junior may have a home to go to, but Bella wouldn’t do well in a home my mom thinks. She’s been there for year," wrote Erin Johnson McCann on Facebook. "They are also going to get rid of birds that live in an aviary there. My mom is furious and they are only giving the cats and birds until this Friday !!!"

NOT

David Salvatore

Now that Councilman David Salvatore has had his meltdown after GoLocal raised questions about his dual role as a lobbyist for the RI Association of Realtors and as City Council President, can he answer the question — does he support or oppose the proposed Fane Tower project?

It is the largest proposed private investment in the City — an estimated $250M to $300M — since the development of the Providence Place Mall in the 1990’s.  

Salvatore seemed to take even greater unbridgeable when GoLocal asked if he had sought an advisory opinion from the Ethics Commission on this issue this past Monday.

NOT

Facebook

The social media giant lost nearly 19 percent of its value on Thursday in a massive selloff. The company's value decreased by $120 billion -- the biggest one-day hit in Wall Street history. 

NOT

Lifespan

Is it the best idea for state regulators to allow a nurses' strike at RI Hospital when the $2 billion Lifespan Corporation is under a state consent decree for multiple surgery mistakes. A pattern that has plagued Lifespan for the last decade.

It is probably time for the Raimondo administration to step in.