PBN April 24, 2020

PROVIDENCE BUSINESS NEWS

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APRIL 24-30, 2020

CORONAVIRUS BUSINESS STIMULUS PROGRAMS

PBN SUMMIT RECAP

Panel: Many do’s and don’ts in using stimulus money | 17

SPOTLIGHT

Some comfort in a crisis | 6

YOUR SOURCE FOR BUSINESS NEWS IN SOUTHERN NEW ENGLAND | VOL. 35, NO. 5 | $2

CORONAVIRUS CRISIS

ISLE OF

FOCUS: COMMERCIAL REAL ESTATE Overdue rent growing into pandemic problem

ANXIETY

BY MARY MACDONALD | MacDonald@PBN.com

HOW CAN A BUSINESS pay its rent when the state orders it to close its doors in a pandemic?

The reality is many can’t in Rhode Island. It falls on landlords, then, to try to work with their business tenants on a realistic plan, according to commercial real estate specialists and property owners.

Commercial property owners and managers say discussions are happening across Rhode Island. In some cases, landlords

Will danger pass in time for Block Island to salvage tourism season?

SEE RENT

PAGE 21

BY CASSIUS SHUMAN | Shuman@PBN.com

IT’S

not business as usual on Block Island these days.

The coronavirus has come ashore, creating a heightened sense of worry not only about public safety but the damage the pandemic might do to the fast-approaching tourism season, the lifeblood of this 10-square-mile summer destination.

The first case of COVID-19 was reported by the Block Island Medical Center on April 3, sending a shockwave through the 1,000 year-round residents, who had been steadfast in trying to seal off the threat. The SEE ISLAND

NOTHING DOING: The Statue of Rebecca overlooks the intersection of Water, High and Spring streets in Block Island’s Old Harbor, normally one of the busiest areas on the island.

PBN PHOTO/KARI CURTIS

PAGE 12

MORE INSIDE:

nD ining Out: Launching a restaurant in time

nG et back to work? Businesses finding easier

nP andemic Diary: A mix of perseverance,

nC oronavirus could alter way companies view

of COVID-19. Page 5

agility ... and whiplash. Page 14

said than done. Page 15 offices. Page 20

THE HANDOFF: Jane Lawton, left, receives a curbside delivery from Barrington Books employee Bill Hartnett in Barrington.

PBN PHOTO/MICHAEL SALERNO

PBN Virtual Summit April 30, 2020 | 9am

See page 31 for more information.

CONTENTS

PBN

COVER STORY ISLE OF ANXIETY

Will danger pass in time for Block Island to salvage tourism season? ....................................................................... 1

FOR STARTERS

400 Westminster St. Providence, RI 02903

Nonprofit in Action: New Urban Arts........................................................3 5Q: Joshua Giraldo.....................................................................................4 Dining Out: Launching in a pandemic.......................................................5 Spotlight: McKay’s Furniture Inc.............................................................. 6 Something New: Here to There Wellness LLC......................................... 6 Hot Topic: R.I.’s jobless numbers standing out........................................7 A Fresh Design: Rhode Island Medical Imaging Inc............................... 8 News Briefs................................................................................................ 9 What’s Happening.....................................................................................10

Main Phone: 401-273-2201 Subscription Services: 855-813-5805

A FRESH DESIGN | 8

President & Publisher: Roger C. Bergenheim 680-4848 | Publisher@PBN.com

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IT’S PERSONAL

Advertising@PBN.com Fax: 401-274-0270

People in the News.................................................................................. 25 Mackay’s Moral........................................................................................ 26 Guest Column: John Graham.................................................................. 26 Guest Column: Jesse Roberts..................................................................27 Editorials and Opinion............................................................................. 28 One Last Thing: Robert I. Burke............................................................. 30

Director of Sales and Marketing: Annemarie Brisson, 680-4800 Marketing and Events Manager: Donna Rofino, 680-4832 Marketing, Events & Social Media Coordinator: Tracy Hoyt, 680-4818

CORONOAVIRUS CRISIS Pandemic Diary: Perseverance, agility … and whiplash........................ 14 Another Look: Raimondo begins outlining steps to reopen economy..... 14 Companies find restarting tough............................................................. 15

Senior Account Managers: Linda Foster, 680-4812 Jim Hanrahan, 680-4816

FOCUS: COMMERCIAL REAL ESTATE | 20

PBN CORONAVIRUS BUSINESS STIMULUS PROGRAMS SUMMIT RECAP

Panel: Many do’s and don’ts in using stimulus money Panelists discuss the challenges to Rhode Island businesses seeking federal funding aid and trying to function in a near economic shutdown brought on by the coronavirus crisis.................... 17

Advertising Coordinator: Joyce Rylander, 680-4810

EDITORIAL Editor@PBN.com Fax: 401-274-0670

Editor: Michael Mello, 680-4820 Managing Editor: William Hamilton, 680-4826

FOCUS: COMMERCIAL REAL ESTATE

Overdue rent growing into pandemic problem

Web Editor: Chris Bergenheim, 680-4886

While some commercial tenants have had their rent deferred by their landlords, others are still expected to pay, especially if they remain open during the COVID-19 pandemic............................... 1

Copy Editor: Matt Bower, 680-4824 Special Projects Editor: James Bessette, 680-4838

Pandemic could alter way companies view offices As many workers have adapted to operating from home during the COVID-19 pandemic, the new dynamic could affect how office buildings are used in the future................................. 20

(EDUCATION, NONPROFITS)

Staff Writers: Elizabeth Graham, 680-4828

Lists

(HEALTH CARE, HOSPITALITY/TOURISM, WORKFORCE)

Nancy Lavin, 680-4822

Rhode Island Commercial Real Estate Sales – Retail........................... 22 Bristol County Commercial Real Estate Sales – Retail......................... 22 Rhode Island Commercial Real Estate Sales – Office........................... 23 Bristol County Commercial Real Estate Sales – Office......................... 23 Rhode Island Commercial Real Estate Sales – Industrial.....................24 Bristol County Commercial Real Estate Sales – Industrial...................24

(ENERGY/ENVIRONMENT, ENTREPRENEURSHIP, FINANCIAL SERVICES)

Mary MacDonald, 680-4830

ONE LAST THING | 30

(GOVERNMENT, MANUFACTURING, REAL ESTATE/DEVELOPMENT)

Researcher: Cassius Shuman, 680-4884

PRODUCTION THIS WEEK’S FEATURED COMPANIES Abbott Properties LLC

20

Insperity

17

Regal Consulting Group

20

Barrington Books

21

Interstate Navigation Co.

12

Block Island Chamber of Commerce

12

Jerry’s Artarama

3

Rhode Island Commercial and Appraisal Board of Realtors

20

1

J. Goodison Co.

9

Block Island Medical Center Block Island Tees

12

Landmark Medical Center

9

Block Island Tourism Council

12

Lifespan Corp.

9

9

McKay’s Furniture Inc.

6

21

NPT HealthWorks LLC

5 9

Bradley Hospital Capstone Properties Care New England Health System

9

Ocean State Job Lot

CharterCARE Health Partners

9

Ocean State Job Lot Charitable Foundation

Dash Bicycle

3

Paolino Properties L.P.

9 21

Family Service of Rhode Island

14

PB Bistro and Bar

5

Fiscal Management Associates LLC

17

Pierce Atwood LLP

17

Hayes & Sherry Ltd.

20

Providence College

25

Here to There Wellness LLC

6

Raw Bob’s Organic Juicery

WHAT’S HAPPENING? SUBMIT YOUR NEWS AT PBN.COM/PBNCONNECT/

Rhode Island Free Clinic R.I. Commerce Corp.

9 17

R.I. Department of Labor and Training

7

Roger Williams University

9

Solstice South County Hospital

12 9

Sweeney Real Estate & Appraisal

20

The National Hotel

12

True North Outfitters

12

University of Rhode Island

Production Director: Anne Ewing, 680-4860 Art Director: Lisa Lagreca, 680-4868

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ADMINISTRATION Fax: 401-274-6580 Business Manager: Tammy D’Antuono, 680-4840

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2 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

Providence Business News is published weekly

by Providence Business News, 400 Westminster Street, Providence, RI 02903 (USPS 002-254) (ISSN 0887-8226) Periodical postage paid at Providence, R.I. POSTMASTER: Please send address changes to 400 Westminster Street, Providence, RI 02903.

NONPROFIT IN ACTION | FOR STARTERS Partnering to bring art supplies to students

BY CASSIUS SHUMAN | Research@PBN.com

NEW URBAN ARTS, a nationally recognized community arts studio for high school students and artists in Providence, has launched an initiative to safely distribute art supplies to students during the COVID-19 pandemic through a partnership with Jerry’s Artarama and Dash Bicycle, which offers a Dash Delivery service, both in Providence.

Students can choose from one of three kits: drawing, mixed media, or watercolor painting. The creativity kits allow artist mentors from the nonprofit’s program team to work remotely with students on creative projects they can complete at home.

The kits are being packaged by Jerry’s Artarama and will be delivered via Dash Bicycle. Donations to the initiative can be made at: bit.ly/3aXMYwc. “The impacts of this pandemic will be deeply felt by our students, the vast majority of whom come from low-income families,” said Daniel Schleifer, New Urban Arts executive director. “Their parents are more likely to be laid off, or to work jobs that can’t be done remotely, putting

their families at greater risk for infection. They will be the hardest hit by the loss of education and other supports provided by school and after-school programs, such as food, transportation and social services.

When they come back, they are likely to be eager to take advantage of every opportunity we can offer.”

New Urban Arts has been expanding since its inception in 1997, affording students a chance to explore their artistic inclinations. The nonprofit boasts a 2,000-plus-square-foot facility in Providence offering a variety of programs that are free and taught by artist mentors, including photography, painting, silk screening and digital media.

The organization’s mission is to

ART SUPPLIERS: New Urban Arts staff members converse at their studio in Providence. From left are Kevin Harper, operations coordinator; Daniel Schleifer, executive director; Addy Scheutz, resident arts mentor; Charmaine Porter, development associate; and Jeannie Castillo Lapierre, business manager.

PBN PHOTO/RUPERT WHITELEY

build a community that empowers young people as artists and leaders to develop a creative practice they can sustain throughout their lives.

Founded by four college students and

10 high school students, the nonprofit has evolved from its humble beginnings of 10 students to a projected total of about 800 in 2020, fostering partnerships along the way. n

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FOR STARTERS

5Q: Joshua Giraldo Democratic state representative, Central Falls

BY NANCY LAVIN | Lavin@PBN.com

1

What role do you think state leaders and elected officials should play in addressing COVID-19?

This pandemic is unlike anything I’ve seen before. Leaders need to be out front providing hope, clear and accurate information, and a plan for the community. We need to empower residents so that they become part of the solution.

2

You’re the Central Falls mayor’s chief of staff and formerly the parks and recreation director. Now you’re a lawmaker after a special election in March. How does your experience in government shape your interest and priorities in the General Assembly?

Being a central part of the fresh, new leadership that has driven the comeback of Central Falls has provided me with critical insight about how to keep our momentum going. My time in recreation taught me the importance of community morale, the impact of youth and senior programming, and how targeted community building efforts can pay extraordinary dividends. As chief of staff, I’ve met with hundreds of residents each year looking for support with affordable housing, immigration, health care and other matters that are difficult to address at a municipal level.

I intend on tackling these issues.

3

As a former educator, how do you propose to address education disparities and underfunding in the

PBN PHOTO/MICHAEL SALERNO

city?

Unfortunately, the system is failing and there isn’t one magic bullet. I will advocate for [English-language-learn-

ers] funding, modernized schools, and equitable and responsive funding practices. I will also advocate for increased funding for school supports, before- and after-school programming, universal pre-K and dual-language schools. I’ll push to retain great teachers while also advocating for more educators of color and for homegrown educators.

4

What is your position on the proposed legislation to prohibit privatization of detention facilities, which would affect the Wyatt Detention Center in Central Falls?

I support the governor’s position that we should ban private prisons in Rhode Island. There shouldn’t be a profit motive behind the incarceration of people.

5

Central Falls has the highest percentage of people of color among Rhode Island cities. How does this influence your leadership and focus as a state legislator?

I’m proud to represent a community with immense diversity that stems from waves of immigrants pursuing the American dream, like my father who immigrated from Colombia over 30 years ago. I also recognize the inequities my community faces regarding income, education, homeownership and the criminal justice system, and I’ll be a strong voice for equality and justice at the Statehouse. n

I’ll be a strong voice for equality and justice at the Statehouse.

20

Is this your year?

20

Be a part of PBN’s class of 2020.

Nominations and applications now being accepted at PBN.com

For sponsorship and advertising opportunities, contact 680.4800 or Advertising@PBN.com

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presenting sponsor

FOR STARTERS DINING OUT | BRUCE NEWBURY

Launching in a pandemic OPENING A NEW RESTAURANT in the best of times is a challenge. When it is a “first” restaurant, the stress level increases. But opening a first restaurant in the midst of a pandemic is cliff-diving, tightrope-walking stress.

Seven years ago Patti Burton opened Raw Bob’s Organic Juicery, a small juice and smoothie bar on Main Street in East Greenwich. On April 9, she opened PB Bistro and Bar, a brandnew, plant-based restaurant, also on Main Street in East Greenwich.

In the midst of this coronavirussocial-distancing-mask-wearing world, PB Bistro and Bar opened for business. Burton and her business partner, physical therapist Dan Hatch, have helped many people on their journey to a healthier lifestyle by showing them how to incorporate more fruits and vegetables into their diets. Hatch is also an Ironman triathlete, entrepreneur and owner of NPT HealthWorks LLC in Newport, which provides a variety of proactive and reactive health and wellness services and products. He has lived a plant-based lifestyle for over the past three years. But can anything prepare anyone for what life has become these days? Burton and Hatch are philosophical about it, as are their customers. “People are taking second, third and fourth looks at their lifestyle right now,” Burton said by phone.

“We are just needed. People are starting to take a step back and think about what they are putting into their bodies.”

PB Bistro and Bar couldn’t wait for a better time to open. The clock is ticking. The meter is running, as are the refrigerators that have been

STARTING FRESH: Patti Burton, far left, and Dan Hatch, far right, have opened PB Bistro and Bar in East Greenwich, which features a plant-based menu. With them are sous chef O’Laro Waite, second from the left, and executive chef Mike Fleury.

COURTESY CAITLIN COSTA

stocked by the produce suppliers, and the bar built by the contractor and stocked by the liquor distributor.

They all need to get paid for the goods they delivered in good faith before the restaurant sector shut down. So the doors opened, at least wide enough to let takeout containers out.

Burton designed the menu. She has culinary experience but said, “I don’t want to be the chef.” An executive chef and sous chef came on board.

There is a learning curve in menu

planning and execution since there are so few plant-based restaurants in the state.

Burton and Hatch welcome everyone. “We want to be the place where everyone can come in and enjoy a meal, not just the people living the lifestyle,” Burton said. The restaurant seats 46 – or will when dining-in resumes. She describes the menu as “dishes that you would expect to have meat but don’t, yet are completely satisfying – you’re happy, you want

to come back and have it again.”

An example is a “seafood” chowder that appears to be brimming with scallops that are mushrooms. The chowder is hot, creamy and aromatic thanks to a generous pour of Old Bay seasoning, which is based in Baltimore – “I’m from Maryland,” Burton said – and delivers the same texture as its mollusk inspiration.

It was not a difficult pivot to come up with a takeout menu. Burton and the chefs already had a lunch menu called “Street Kicks” that has lent itself to the curbside pickup all restaurants find themselves in these days. “It’s a late-night menu, something quick [that you would eat while] walking down the street,” Burton said.

PB opened on the Thursday before Easter. Two days in, Burton was already welcoming repeat customers.

That would be a success story even if the place was fully open with patrons at the tables and bar.

Burton is already an ambassador for her style of eatery. Several restaurant owners have come in to get takeout. “I hope they put some plant-based options on their menus,” she said. She sees herself as a trailblazer. “When I opened Raw Bob’s, there were no juice bars around here.

In the past seven years, the area has evolved and now there are several.” n Bruce Newbury’s “Dining Out” radio talk show is heard Saturdays at 11 a.m. on 1540 AM WADK, on radio throughout New England, through various mobile applications and his podcast. Email Bruce at Bruce@ brucenewbury.com.

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4/22/20 10:16| AM5 www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020

FOR STARTERS SOMETHING NEW

SPOTLIGHT

COACHING COMPANION: Megan Gallagher is the founder and owner of Here to There Wellness, an online coaching program that launched earlier this year. The program is a companion to her Here to There Counseling business in Warwick.

PBN PHOTO/ELIZABETH GRAHAM

Therapeutic boost in your inbox

BY ELIZABETH GRAHAM | Graham@PBN.com

AS A LICENSED MENTAL HEALTH counselor, Megan Gallagher finds herself revisiting certain topics often with clients.

Realizing that some issues seem to be universal, Gallagher drew on her 11 years of experience to create a coaching program that could reach a broader audience than her daily schedule will allow.

She launched Here to There Wellness LLC in January. It’s an online program that Gallagher says will eventually feature 12 three-week topics. Users receive a daily email that’s informative, encouraging or includes a homework assignment building on the previous day’s email.

Taking time to absorb the daily communications is key, Gallagher said. “[Clients] can go slow, but they can’t go fast,” she said. “The end goal is to be able to look at one’s self in the mirror … and be able to tell yourself that you love yourself.”

Gallagher said she is offering the email program for free during the coronavirus crisis.

The first topic, self-talk, has already been released.

“That is the thing that I talk about first with every single person who walks through my door,” Gallagher said.

She plans to add a Skype feature to the program soon.

The business is a companion to Gallagher’s Here to There Counseling in Warwick, which she continues to operate ­virtually. n

BUILT TO LAST: McKay’s Furniture Vice President Kerry McKay says treating customers with gratitude and respect has been at the center of the company’s 120-year longevity.

PBN PHOTO/ELIZABETH GRAHAM

Some comfort in a crisis McKay’s Furniture has adapted

BY ELIZABETH GRAHAM | Graham@PBN.com

AT ONE TIME, FIVE GENERATIONS of McKays were working at McKay’s Furniture Inc. Kerry McKay, the furniture retailer’s vice president, remembers another instance when five generations of one family were shopping together in the showroom.

For the 120-year-old family business still run by four generations of McKays, longevity is a point of pride, second only to customer loyalty.

The company has survived through the tenures of 30 Rhode Island governors, the Great Depression and a move south from Providence, and continues to keep its buyers coming back.

The coronavirus pandemic has been particularly bruising for McKay’s, which buys its new stock of patio furniture in the late fall, then begins to pay invoices in the spring, when the pieces start selling.

Usually, the busy season for the store on Ten Road Road in North Kingstown begins in April and lasts through August. Now both showrooms are open during the health crisis by appointment, but the majority of its business is now done through phone calls, texts and emails.

The company has not laid off or furloughed workers, and is hoping that federal stimulus funds will continue to keep its employee roster

intact, McKay said.

“We generally don’t have to borrow funds in order to do business,” he said. “We’re in brand-new, uncharted territory.”

The business was founded in 1900, when Ken McKay – Kerry McKay’s grandfather – partnered with another businessman to open a shop on Abbott Place in Providence.

Keeping the doors open for 120 years has hinged on gratitude, Kerry McKay said.

“It’s taking care of people, treating them like they should be treated, and recognizing that they’re spending their hard-earned money with you. Say ‘Thank you,’ treat them nice, give them what they need,” McKay said. “It always has been a big deal, and I think that’s why people continue to come to us.”

At first, McKay’s sold heavy iron stoves in Providence, but it wasn’t long before furniture and carpeting joined the offerings. According to McKay, whose twin brother, Keith, is the business’s president, linoleum flooring was so popular in the 1920s that their grandfather built a pond

OWNERS: Keith, Kerry and Scott McKay

LOCATION: 751 Ten Road Road and 182 Lafayette Road, North Kingstown

TYPE OF BUSINESS: Furniture retailer

EMPLOYEES: 18 to 20

6 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

inside the showroom in the original store. Ducks floated on top, and linoleum lined the bottom, to show its resiliency.

As the years passed, McKay’s moved to Weybosset Street, then to Westminster Street, and finally to Elmwood Avenue. There, vandals shot out the plate glass windows in the early 1970s, prompting McKay’s father, who’d taken over the business, to move it to North Kingstown.

He bought a 1½-acre plot on the corner of Route 4 and Lafayette Road for $8,000, and the company put down roots, growing into two stores less than half a mile apart.

McKay’s Ten Rod Road location is dedicated to patio furniture sets, sweeping canvas umbrellas and elegant accessories such as fire pits that resemble metal sculptures and graceful solar-powered globe lights.

Close by on Lafayette Road, the business’s second location houses 22,000 square feet of solid-wood dining room furniture, bedroom sets, reclining chairs and carpet choices.

Some pieces are Amish-made; others bear the signature of well-known furniture manufacturers such as Hancock & Moore, Wesley Hall, and Sherrill.

“We sell the kind of furniture that people want,” McKay said. “We give customers what they want instead of what they have to settle for.” n YEAR ESTABLISHED: 1900 ANNUAL REVENUE: WND

FOR STARTERS HOT TOPIC

R.I.’s jobless numbers standing out

BY NANCY LAVIN | Lavin@PBN.com

EARLY INDICATORS SUGGEST the economic shutdown created by the new coronavirus may be hitting the labor force in Rhode Island harder than in most states.

certain business sectors, sparking the increase in newly unemployed workers. It was also a leader in accepting claims from self-employed and gig-economy workers. And the DLT has offered updated information daily, while other states have not been as transparent.

While the Tax Foundation analysis acknowledged that “differentials across states may be questions of timing rather than effects of the economic contraction,” Rhode Island’s early onset of closures and accepting of new types of claims has only a modest effect on its ranking so far into the pandemic, Walczak said.

“Now that we have close to a month of significant job losses in the rearview mirror, those differences are much smaller,” Walczak said.

To him, the consistently high increase in Rhode Island’s weekly unemployment claims suggests the lo-

The R.I. Department of Labor and force is truly in worse shape than Training has reported unprecedented other states depends on who you ask, levels in new unemployment filings – and how they interpret the data. with daily increases quickly surpassJensen was quick to note that ing the previously recorded weekly claims filed do not automatically high of 5,300 fillings during the 1992 translate to those approved, and in banking crisis, according to DLT Diturn, those receiving benefits. rector Scott R. Jensen. As of April 23, Nationwide, confusion surroundtotal filings excluding those for teming eligibility, as well as the urgency porary disability insurance surpassed felt by those filing claims, has in180,000, representing about 32% of the creased the gap between applications labor force based on the 566,600 workand approvals, said Jared Walczak, ers reported as of March 14. the Tax Foundation’s director of state While the crushing economic blow tax policy. is felt by workers nationwide, reports Jensen also pointed to how timing published earlier this month by the and transparency have affected Rhode U.S. Chamber of Commerce and Tax Island claims data. Rhode Island was Foundation suggest Rhode Island’s among the earlier states to shut down unemployment burden is worse than its peers. The Chamber report ranked Rhode Island second, behind Michigan, in claims filed as a percentage of its labor force as of April 4. The Tax Foundation analysis, which is updated weekly, continued to show Rhode Island in the upper rankings.

BusinessLoanAds_1_25_20.qxp_BusinessLoanAd10x6375_1_25_20B 1/25/20 4:15 PM Page JARED 1 But whether Rhode Island’s labor

cal labor force is indeed being affected more severely than in other places.

However, he cautioned that the number of people applying for benefits reflects the utilization of the unemployment compensation system, not the unemployment rate itself.

Rhode Island’s monthly unemployment rate of 4.6% reflects information as of March 14 – before the impact of COVID-19 set in – though that percentage outranks other regional states.

One metric where Rhode Island fares slightly better is the status of the state’s unemployment trust fund. The state ranked No. 34 in the solvency of its trust fund, with enough money to pay out current claims for about 14 weeks, according to the Tax Foundation analysis.

“No state prepared for a crisis like this ... but some states did enter more prepared than others,” Walczak said. n

‘No state prepared for a crisis like this ... but some states did enter more prepared than others.’

WALCZAK, Tax Foundation director of state tax policy

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www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 7

FOR STARTERS | A FRESH DESIGN Rhode Island Medical Imaging Inc. 1526 Atwood Ave., Johnston

BEFORE WATERFALL VIEW: Shown above is the old reception desk area in the waiting room under renovation. At left, the new Breast Imaging Center waiting area is accented by a wall-mounted waterfall.

Building owner: Atwood Medical Properties LLC; managed by First American Realty

Tenant: Rhode Island Medical Imaging Inc. Architect: Vision 3 Architects Developer/General contractor: Nadeau Construction

Cost: WND Use: Rhode Island Medical Imaging Inc. officially unveiled its new facility at 1526 Atwood Ave. in Johnston on March 5. The medical facility opened its 13th location with state-of-the-art technology and a fully integrated breast imaging center, which is Rhode Island’s first and only American College of Radiology Diagnostic Imaging Center of Excellence. The building at the Johnston location, previously used

by Atwood Health Properties, was fully renovated and converted into a modern setting offering MRIs, CT scans, X-rays, ultrasounds, diagnostic imaging services and a suite of comprehensive breast health services. The breast imaging center provides a boutique-like feel, including soft pink robes, a relaxing wall-mounted waterfall, and hot and cold beverages. Services include 3D mammography, breast ultrasound and biopsy. The blueprints for the design were created by Providence-based Vision 3 Architects. The contractor was Attleborobased Nadeau Construction.

GLASS ART: The walls are adorned with sculptural glass art in the new dressing rooms area of the facility.

PHOTOS COURTESY RHODE ISLAND MEDICAL IMAGING INC.

DRESSING ROOMS: A couple of the new dressing rooms can be seen with framed pictures on the walls.

MODERN SETTING: A TV hangs in the corner of the fully renovated waiting room, including new chairs, on the diagnostic side of the facility.

8 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

NEWS BRIEFS | FOR STARTERS Lifespan Corp. loses $23M from COVID-19 in March PROVIDENCE – Lifespan Corp. on April 22 reported an operating loss of $23.8 million for the month of March.

The deficit is directly linked to costs related to the COVID-19 pandemic, said Lifespan CEO and President Dr. Timothy J. Babineau, who voluntarily stopped receiving a salary on April 1 in response to the losses.

Patient traffic at the system’s hospitals and outpatient clinics has reduced dramatically since the virus appeared in Rhode Island, forcing the cancellation of many nonemergency appointments and surgeries. Elective surgeries and emergency room visits have dropped by 50% for the month.

Lifespan has also had to absorb the costs of caring for COVID-19 patients.

March’s losses increase to $32.7 million when restructuring costs are factored in, and jump to an overall net loss of $75.7 million after including investment losses of $41.1 million.

Lifespan’s losses could approach $100 million by the end of May, Babineau said. n

Bristol County, Mass., home prices up 4.7% Y/Y in March

Quonset shipyard receives $504K grant to buy new crane

PROVIDENCE – The median price of a single-family home in Bristol County, Mass., in March increased 4.7% year over year to $320,000, The Warren Group said April 22.

The median price of a home in Massachusetts at that time was $402,000, a 6.5% increase year over year.

“The Massachusetts housing market continued its record-setting streak in March, just as the severity of the coronavirus pandemic was beginning to hit home,” said Timothy Warren Jr., CEO of The Warren Group. “The great irony is that all indicators were pointing to an excellent spring real estate market.”

Home sales totaled 353 in Bristol County, Mass., a 9% increase from March 2019.

Condominium sales in the county declined 8.3% year over year to 88.

The median price of a condo in the county increased 19.6% year over year to $292,500.

The median price of a condo in the Bay State was $429,000 in March, marking a 19.2% increase over the year. n

NORTH KINGSTOWN – J. Goodison Co. is one of 24 recipients awarded $19.6 million in discretionary grants through the federal Small Shipyard Grant Program, the U.S. Department of Transportation’s Maritime Administration announced April 20.

Located in the Quonset Business Park, J. Goodison offers a range of ship repair services. The $504,237 grant will allow the veteran-owned small business to modernize its equipment through the purchase of a U.S.built 80-ton shipyard rough-terrain crane, which will replace a 30-year-old crane with half the capacity.

The grant program provides funds to help U.S. shipyards modernize equipment and improve efficiency through investing in emerging technologies and conducting capital and related improvement projects and employee trainings. n

NORTH KINGSTOWN – The Ocean State Job Lot Charitable Foundation has distributed more than 150,000 surgical masks to those on the front lines of the fight against COVID-19 this month, Job Lot announced April 17.

Of those distributed, 25,000 went to Brigham & Women’s Hospital in Boston; 16,000 to Boston Medical Center in Boston; 12,000 to Lifespan Corp. in Providence; 8,000 to Landmark Medical Center in Woonsocket; 4,000 to South County Hospital in South Kingstown; 2,000 each to the state police in Maine, Massachusetts, New Hampshire, Rhode Island and Vermont; and 200 to each police chief and fire chief in the 140 communities where Ocean State Job Lot stores are located, according to a news release.

Additional recipients include Bradley Hospital, Care New England Health System, CharterCARE Health Partners, the Rhode Island Free Clinic, University of Rhode Island, Amtrak Police and the North Kingstown Fire Department. n

PROVIDENCE – Senate President Dominick J. Ruggerio and House Speaker Nicholas A. Mattiello announced April 21 the formation of a Joint Legislative COVID-19 Emergency Spending Task Force.

Expected to begin meeting April 30, the task force will examine the Raimondo administration’s commitment of more than $100 million in emergency spending, including a review of the process and contracts involved in establishing field hospitals and purchasing medical equipment, supplies and personal protective equipment, according to a news release.

In a statement, Ruggerio praised Gov. Gina M. Raimondo for how she’s handled the coronavirus pandemic but said the General Assembly should handle oversight of the federal relief money.

“This approach … fulfills a crucial check-and-balance role of the Assembly while ensuring that the governor has the flexibility she needs to swiftly direct relief funds where they are needed,” he said.

Mattiello, in a statement, said, “We have a responsibility to ensure that even in a crisis, proper light is shed on the expenditure of public funds.” n

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FOR STARTERS | WHAT’S HAPPENING Navigating COVID-19

MARKETING TIPS: Victoria Byrne, president of Creative Marketing Services, will give tips for generating quality leads through digital marketing via an online webinar on May 7.

COURTESY VICTORIA BYRNE

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VICTORIA BYRNE, founder and president of Creative Marketing Services, will be hosting an online webinar to discuss the latest digital trends that can aid a business with generating quality leads. Byrne, a certified Constant Contact solution provider who hosts educational forums, sharing advice on a variety of digital marketing methods and practices, will provide ideas for enhancing overall marketing strategy. This webinar will cover website optimization, social media ads, Google AdWords, search engine optimization, marketing automation, video and Google Analytics.

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Grow your email list CONSTANT CONTACT PARTNER Stephanie Sokenis is hosting an online webinar workshop to discuss strategies to capture new contacts and build relationships with subscribers.

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CONSTANT CONTACT PARTNER Kathy Hays is hosting an online webinar to provide small-business owners and nonprofits with the resources and tools essential for implementing an action plan during the COVID-19 pandemic. As this unprecedented crisis continues to evolve, smallbusiness owners are wondering how to minimize losses, and what steps they can take to protect their businesses. This webinar will arm them with the tools necessary to survive during this uncertain time by looking at ways to take stock of the situation, generate ideas and solutions, and take action to serve the community and protect your organization. The program will cover ideas for staying in contact, marketing and planning for the future.

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www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 11

CORONAVIRUS CRISIS ISLAND

CONTINUED FROM PAGE 1

residents remain sheltered in place through at

least May 8, protecting themselves from contracting the virus while hoping that the pandemic ends soon so they can open their seasonal businesses.

In a typical year, Block Island’s population swells to more than 20,000 people in the summer, a cash-laden mix of day-trippers, hotel guests and house renters who arrive 9 miles off the coast of Rhode Island by ferry and airplane to enjoy the beaches and the island’s quaint, laid-back atmosphere.

This year promises to be anything but typical.

Members of the Block Island Tourism Council are “really worried,” said Jessica Willi, the council’s executive director.

“It’s definitely going to impact business,” she said of the pandemic. “My feeling is that it won’t be as robust of a summer season. Block Island survives on its tourism economy. We know people will be struggling after this.”

Willi’s routine of marketing the island – to potential visitors from places such as hard-hit New York – has been turned upside down, filled with feelings of unease and uncertainty.

“It’s so unclear right now regarding what’s going to happen,” she said. “We’re in the thick of it now. I’m busy preparing now for later – whenever later will be.”

LOCKED UP: John and Sarah Cullen stand outside Block Island Tees, one of three shops they own at the National Hotel. Their stores remain shuttered during the pandemic.

PBN PHOTO/KARI CURTIS

‘We would normally be buzzing with activity, but it is eerily quiet.’

JOHN CULLEN, Block Island shopowner

A CRUCIAL TIME The summer season is everything to Block Island. It’s what the community and its business owners prepare for every winter. They renovate and update their buildings and put a fresh coat of paint on the town’s historic district.

During high season, there is the hustle and bustle of people disembarking from the ferry and making their way through Old Harbor’s seaside shops and restaurants on Water Street, some checking into picturesque inns while others hop on mopeds and bicycles to venture to a beach or to the lighthouses.

The island is a benefactor of their presence.

The town of New Shoreham, Block Island’s official designation, generates around $1 million from the food and beverage, hotel, and cottage rental taxes. And the Tourism Council yields about $300,000 annually in hotel tax revenue, its staple funding source, which is 45% of the 5% state hotel tax.

There are also the incomes of the residents and the seasonal workforce. The island’s more than 250 seasonal businesses typically operate from

late April or mid-May to early October, but their big sale period is between the Fourth of July and Labor Day, the high season that Block Island businesses are desperately hoping can still be salvaged.

Twenty-year island resident and retailer John Cullen isn’t sure when he is going to open.

Cullen and his wife, Sarah, operate three stores in The National Hotel: Block Island Tees, Solstice and True North Outfitters.

“When we first started sheltering in place here on the island, things didn’t seem that out of place because of the quiet pace of the offseason, and we were used to having most businesses closed for the winter anyway,” Cullen said. “Fast forward to mid-April and we would normally be buzzing with activity, but it is eerily quiet. I don’t think we have ever experienced anything quite like this in my life.

“There is some uneasiness, because it’s new and uncharted territory,” he said. “So, yes, we’re uneasy.”

WELCOME WAGON: A New Shoreham police vehicle awaits the Block Island Ferry’s arrival on April 20.

Officers have been stationed at the ferry landing to greet visitors and warn them they must quarantine for 14 days.

PBN PHOTO/KARI CURTIS

Residents who typically congregate at meetings at Town Hall or events at theIsland Free Library are relegated to the confines of their own homes.

They take an occasional walk along the Greenway Trails or the shoreline; some shop for essentials, others cast fishing lines into the water.

But, as much as islanders want visitors to come this summer, some weren’t as welcoming when the pandemic first arrived.

Police Chief Vincent Carlone fielded complaints from visitors who own property on the island that some residents were making off-islanders “uncomfortable.” In response, he penned a letter for the Block Island Times, warning people to behave.

“They are heeding my warning,” he said recently. “No one is going to be harassed or intimidated.

There were a few who were making people feel uncomfortable; maybe they felt they were protecting their families, but what they were doing was kind of mean. That’s over now.”

At the same time, Carlone has stationed officers at the ferry landing to greet visitors and warn them they must quarantine for 14 days because of an emergency ordinance passed by the Town Council.

As of April 22, there remained only one case of COVID-19 confirmed on Block Island, a year-round resident who traveled frequently to the mainland.

“Will this all go to hell in a handbasket if this continues into June?” Carlone said of the emergency measures. “You can only keep people cooped up for so long, no matter where they are. This is stressing people out.”

‘BIGGER, LONGER HURDLE’

Typically, Interstate Navigation Co., which operates the Block Island Ferry, changes the schedule at this time of year, adding more trips as the season turns from winter to spring, and residents begin the process of opening their businesses.

Instead, the winter schedule is in place, and the police are perched at the dock bearing warnings for the small number of new arrivals.

While these measures aren’t conducive to commerce, Cindy Lasser, president of the Block Island Chamber of Commerce, said she understands.

Town officials have to worry about safety while also being cognizant of island businesses, Lasser 12 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

CORONAVIRUS CRISIS ‘You can only keep people cooped up for so long, no matter where they are.

This is stressing people out.’

VINCENT CARLONE, New Shoreham police chief said. “They’re flying by the seat of their pants,” she added. “They’re trying to make incremental steps to get people back to work.”

As part of those incremental steps, the New Shoreham Town Council recently amended its emergency ordinance to allow one or two people from the mainland to work together at isolated construction sites, with the town’s approval.

The change doesn’t apply to businesses such as hotels and stores.

“It’s going to be different this summer season, if it happens at all,” said Town Councilman Sven Risom. “We are taking steps to try and bring a balance of health and safety and welfare to the island.”

Still, Lasser said, most of Block Island’s businesses are in a situation unlike most other businesses in Rhode Island.

“The businesses on the mainland were functioning and operating before having to close their doors,” Lasser said. “We have to open our doors.

Business owners can’t just walk into their businesses and be ready to go for the summer season.”

By this time in most years, owners would be ordering supplies for the summer and hiring staff.

“So they have a bigger, longer hurdle because they need to get open,” she said.

Adding to the challenge: Uncertainty surrounding the arrival of the seasonal workforce. Some workers would have already started arriving by now, and island businesses are dependent on flocks of foreign students who work in the hotels, restaurants and shops for the summer under the J-1 visa program.

That program has been put on hold at least until May by the U.S. government, leaving it unclear when seasonal workers will be able to arrive and where they’re going to come from.

Then there’s the offseason work that was left unfinished when COVID-19 hit.

Lasser said some island businesses, such as hotels and inns, were in the middle of substantial renovation projects that came to a sudden halt, which is sure to cause costly setbacks before the businesses are ready for tourists to return.

That’s the case at the 45-room National Hotel, a

SALVAGABLE: Block Island Tourism Council Executive Director Jessica Willi hopes the pandemic is a distant memory by July.

PBN PHOTO/KARI CURTIS

grand Victorian-style landmark overlooking Old Harbor.

General Manager Julie Fuller said all of the hotel’s renovation projects are incomplete.

“We’re about two weeks away from finishing” installation of an air conditioning system, said Fuller. She said a compressor system needs to be transported to the island via the ferry.

The hotel, which normally employs about 100 people during the tourism season, has already postponed its opening until May 21, and might delay it further if COVID-19 continues to present a danger.

While Fuller is almost certain it’s going to be a down year on the island, she’s also thankful that the pandemic struck in the offseason instead of the busiest time of year.

“I don’t think it’s going to be a banner season,” said Fuller, noting “there will be limitations” to how hospitality businesses can operate even after the pandemic subsides. “We will be ready when the time comes to open. We are hopeful.

We are fortunate that July and August are busy months. If this had happened in July, it would be ­devastating.”

HOLDING OUT HOPE Like many on the island, Willi is also focused on July and August.

While the tourism season typically starts ramping up at the end of April, she said the island economy can weather a bad start. A solid high season would be enough to sustain Block Island.

“Our main tourism tax dollar months are July and August, followed by September, and then June,” she said.

For now, though, she said people should stay away from the island.

Kristin Baumann, a 24-year island resident and director of the Island Free Library, remains optimistic that the difficult times will pass by the time July arrives.

“The month of June is typically a false start anyway,” she said recently. “Our summer season is really July, August and September. I think we can have a late season. I think the next few weeks are critical to letting us know where we are, and what might be happening.

“We’ve seen our season extend to November and December before, and we’ll be ready to do the same this time,” she added. “We have a beautiful fall season on the island that people already enjoy.”

Instead of overseeing the daily programming inside the library, Baumann is spearheading an initiative to ensure that residents have access to things such as the internet, books and other materials. “I am reinventing librarianship,” she said.

“I am trying to figure out how to get materials into our patrons’ hands while encouraging sheltering in place.”

KEEPING THE PEACE: New Shoreham ­Police Chief Vincent Carlone is making sure year-round residents who are nervous about ­COVID-19 aren’t treating visitors poorly.

PBN PHOTO/KARI CURTIS

She also recently received 50 mobile hotspots from T-Mobile from an order that she placed prior to the pandemic, a handy development on an island known for having poor internet and cellphone service.

“I planned on doing a test program with the high school students to see how they worked around different parts of the island,” Baumann said. “The coronavirus happened and now they’re urgently needed by people on the island.”

NEW NORMAL? Cullen is trying to maintain a positive outlook, hopeful that the federal government’s stimulus programs will be able to help the island’s small businesses stay afloat if the worst happens.

“We can only control the things that are within our control,” he said. “I’m trying to be positive.

The worst-case scenario is that there is no summer season.”

Meanwhile, Willi has learned that life on the island does go on.

While keeping tabs on the pandemic news, she has also juggled family matters.

“My brother and his wife arrived from Bali a week ago,” she said recently. “They are quarantining. You go a little stir crazy being inside every day, but we’re used to this. It’s like February on Block Island, but the days are a lot longer.”

After that first case of COVID-19 on the island was confirmed on April 3, Willi acknowledged she felt trapped, in part because the ferry was canceled that day because of bad weather.

“It doesn’t feel like that now,” she said. “It’s sort of the new normal.” n

‘Block Island survives on its tourism economy.

We know people will be struggling after this.’

JESSICA WILLI, Block Island Tourism Council executive director www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 13

CORONAVIRUS CRISIS | PANDEMIC DIARY A mix of perseverance, agility ... and whiplash

BY DANIEL DWIGHT

(Editor’s note: This is the second installment in a weekly series on how Cooley Group is managing the COVID-19 pandemic, from the perspective of its CEO.) LEADING A MANUFACTURING COMPANY through this crisis feels like constant whiplash.

Even as I’m jerked from one challenge to the next, I strive to steer the ship straight. In this uncertain time, my key leadership responsibility is keeping the team safe and on-task. With that in mind, no matter what is going on economically, politically and socially, I cannot waver in providing persistent, honest communication with the Cooley team. I remind them (and myself) that this battle will be won through perseverance and agility.

Here is a preview of just some of the action items on Cooley’s weekly agenda (not including the hourly surprises we have grown accustomed to in the time of COVID-19): apply for additional funding to better support our customers, digitize processes where possible so employees can work productively from home, connect with Gov. Gina M. Raimondo’s team to discuss the state’s new mask protocol, source and invest in launderable masks for the entire company, collaborate with customers (and even competitors) to accelerate full-scale production of medical supplies, expand our storage-bladdersolutions product line to include crude-oil storage, conduct product trials for next-generation watercontainment solutions to support water shortages in developing countries.

First and foremost, I prioritize employee health and safety requirements. I cannot reiterate this enough: Without a healthy team, we cannot operate

our business or serve our community. It’s just like those airplane safety announcements: “Put your mask on first before helping your child.” For the prior two weeks, Cooley experimented with safely wearing masks in the factory before implementing face mask guidelines.

With the daily safety tasks completed, I move onto liquidity and cash flows. Like most businesses across the country with fewer than 500 employees, Cooley applied for the Payment Protection Program. Despite completing the application within a day of the submission portal opening, Cooley did not receive funds before the federal funding ran dry. Undeterred, we shifted our efforts to collaborate with the National Association of Manufacturers and lobby representatives in Congress to allocate additional funds.

While pursuing projects that reinforce us financially, Cooley remains dedicated to our social responsibility commitments. We pivoted employees off other projects, shifting into all-hands-on-deck mode to drive hyper-accelerated development, testing and manufacturing of medical gowns, which are rated up to Level 4 (surgical). This week, first responders in Louisiana, Massachusetts and Rhode Island can access the Cooley medical gowns they desperately need.

As weeks turn into more than a month of disruption, I sense my colleagues’ patience waning. Cooley workers are in overdrive, and social distancing means that team leaders are forced to virtually buoy workplace morale. On this front, we’ve added virtual “happy hours” to our calendars to talk through business and personal challenges amongst our teams. I recommend this for CEOs

We pivoted employees off other projects, shifting into all-hands-on-deck mode.

THUMBS UP: Cooley extruder operator Jerome Wilson displays his protective mask during a production run of the manufacturer’s watercontainment material.

COURTESY COOLEY GROUP

sensing frustration in their team. We continue to send daily newsletters to all employees, not only reminding them of updated health and safety protocols but also encouraging them to support local charities. Cooley’s purchasing team stepped up to identify vendors for Family Service of Rhode Island to acquire key COVID-19 supplies such as masks and hand sanitizers.

Last week, we focused on the virtue of perseverance as we worked our way through the COVID19-induced chaos. This week, I am relying on Cooley’s agility to motivate my team to adapt to each new COVID-19 challenge as it arises. n Daniel Dwight is CEO and president of Pawtucketbased Cooley Group.

PBN.COM | ANOTHER LOOK Raimondo begins outlining steps to reopen economy

BY PBN STAFF

(Editor’s note: A version of this story was first published on PBN.com on April 20.)

PROVIDENCE – Gov. Gina M. Raimondo has laid out six factors that she says state leaders will need to address before Rhode Island’s economy can begin to reopen.

And, she warned, the process will be a long one, and may include reversals if cases of COVID-19 start to surge again.

“We’re going to do this; no one’s ever done this before,” Raimondo said during her daily press briefing on April 20. “We had to shut down the economy together, and we’re going to stand it up together.”

A prolonged decrease in the spread of the virus is the first thing that must happen before the economy reopens, the governor said.

Once the cases begin to decrease, five other factors will come into play to get the economy back up and running, Raimondo said.

They are: n Health officials must be able to head off potential large outbreaks by developing a framework to quickly identify and contain community spread.

PLANNING AHEAD: Gov. Gina M. Raimondo outlines her plans for the state economy during a briefing at the Statehouse on April 20.

COURTESY R.I. CAPITAL TV

n Health systems must have the capacity and enough protective gear to handle a surge of cases. n Supports must be in place for vulnerable populations and those in quarantine. n Organizations such as schools, child care facilities and churches must create long-term plans for social distancing.

14 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

n Businesses must be willing to accept the possibility of restrictions or closures if another outbreak of the virus occurs.

“My goal will always be to get as many people back to work as fast as safely possible,” Raimondo said, pointing out that the state’s testing capabilities have been among the highest per capita in the nation.

“Four, six or nine months from now, when we are back to work a bit more and living our lives a bit more, you’ll be able to see Rhode Island has stayed at the cutting edge of what we’re doing,” she said.

Raimondo has already said small garden centers will be allowed to open on April 27 with restrictions. Big-box stores with garden centers will have to close open shopping areas and limit garden business to pickups and appointments.

Raimondo also said that reopening “close-incontact” businesses such as hair salons “are some of the toughest calls to make.”

She warned that businesses such as hairdressers, barber shops, nail salons and tattoo parlors will likely not be among the first wave of businesses to reopen. “Those are among the more difficult and dangerous,” she added. n

CORONAVIRUS CRISIS Companies find restarting tough

BY MAE ANDERSON, TOM KRISHER AND ANNE D’INNOCENZIE | The Associated Press

NEW YORK – As state and federal leaders tussle over when and how fast to “reopen” the U.S. economy amid the coronavirus pandemic, some corporations are taking the first steps toward bringing their employees back to work.

Detroit-area automakers, which suspended production roughly a month ago, are pushing to restart factories as states such as Michigan prepare to relax their stay-at-home orders. Fiat Chrysler has already announced a May 4 gradual restart date; General Motors and Ford don’t want to be left behind.

In negotiations with the United Auto Workers union, automakers are offering to provide protective gear, frequently sanitize equipment and to take worker temperatures to prevent anyone with a fever from entering factories. These steps, they say, have worked at repurposed factories now making medical equipment.

Matt Himes, who installs SUV doors at a GM plant in Spring Hill, Tenn., said he’s ready to get back to work. But he also fears catching the virus.

“I guess we all should worry about it, but you can’t keep us closed down forever,” said Himes, who added that it’s impossible to keep social distance on his assembly line. “You work within 3 or 4 feet from everybody,” he said.

In line with White House guidelines announced last week, several states with Republican governors have begun restoring access to public spaces – not just beaches and parks, but in states such as Georgia, hair salons, gyms, bowling alleys, restaurants and movie theaters as well.

Health officials fear that such moves, if not carefully planned, could fuel a second wave of COVID-19 infections. Some companies that never closed offer

a cautionary tale: Meat-packing plants across the Midwest have reported hundreds of coronavirus cases among their tightly quartered workforces.

Above all else, executives will need to be flexible, said Nicholas Bloom, an economics professor at Stanford University. “You can have a set of plans, but those plans are going to have to be updated on a rolling basis,” he said.

Retailers, restaurants and mall operators are looking at China’s experience to see how they

LONELY PLACE: A visitor walks in an empty hallway at The Fashion Mall at Keystone in Indianapolis in March. Some corporations are taking the first steps toward bringing employees back to work.

AP FILE PHOTO/DARRON CUMMINGS

can reopen stores, said Meghann Martindale, global head of research at CBRE, a real estate services firm. Malls probably won’t open food courts and big play areas for children for a while, and shopping complexes will likely limit the number of entrances to control the flow of customers.

Build-A-Bear Workshop, which operates 350 mostly mall-based stores in the U.S., is exploring new ways to ease coronavirus fears, such as letting families make appointments so they can customize and stuff their own plush toys without strangers around, said founder and former CEO Maxine Clark.

Amazon.com Inc., which drew sharp criticism for firing an employee who led a walkout to demand greater coronavirus protection for workers, now says it is developing an internal lab that could potentially provide coronavirus tests for all employees. (Amazon says the employee in question was fired for violating social-distance guidelines and other infractions.)

Some tech firms are eager to return to the office.

Andrei Taraschuk, a software engineer who works for the chip maker Broadcom in Broomfield, Colo., said employees learned at a recent town hall meeting that they would be required to go into the office one week out of every four starting April 27.

According to Taraschuk, the company told workers they would be randomly assigned to new groups, and that their attendance would be monitored via badge checks. The company would give them face masks, gloves and temperature checks. Those who refused to come in would have the option of not working for up to 90 days without pay.

“We’ve been working from home for weeks,” Taraschuk told The Associated Press in an interview. “It’s bizarre. We write software.”

Broadcom did not reply to a request for comment. n

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www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 15

Giving changes everything There isn’t anyone in our community who has not been touched by the COVID-19 crisis.

That is why we launched the COVID-19 Response Fund in partnership with the United Way of Rhode Island.

We are humbled by the generous companies, individuals, and families across the state who have already donated nearly $7 million to help nonprofits provide Rhode Islanders with food, housing, and health care.

Join us today.

Donate at rifoundation.org/covid19response

16 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

CORONAVIRUS BUSINESS STIMULUS PROGRAMS | PBN SUMMIT Panel: Many do’s and don’ts in using stimulus money

BY MARY LHOWE | Contributing Writer

PLANNING IS CRUCIAL IN BUSINESS, and it has never been as difficult as it is now that the coronavirus pandemic has hammered the national and Rhode Island economies. And the flurry of federal loan, grant and tax-deferral programs that are rolling out haltingly, often with scanty guidance, may be adding to the confusion.

“We are flying the plane as we are building it,” said Mark S. Hayward, Rhode Island district director of the U.S. Small Business Administration, referring to the difficulties of creating and disseminating relief programs for struggling b ­ usinesses.

Challenges to Rhode Island businesspeople trying to function in a near economic shutdown in the coronavirus crisis were discussed at length on April 16 at Providence Business News’ virtual Coronavirus Stimulus Program Summit.

In addition to Hayward, panelists included Gina McDonald, an accountant and lead consultant at Fiscal Management Associates LLC; Stefan Pryor, R.I. commerce secretary; Doris Blanchard, assistant director of SupplyRI at R.I. Commerce Corp.; Stephen Del Sesto, partner at Pierce Atwood LLP; and Kelly Yeates, vice president of service operations at Insperity.

The panelists participated by web conferencing at separate locations, and an audience of about 250 people watched at their computers.

Several government-backed loan and grant programs are underway to help businesses, but they are coming online slowly and getting depleted

quickly. One of the big outcomes is confusion.

Business owners and managers need to determine if they qualify for assistance, how to apply, how to avoid double-dipping across programs, and how to merge new rules – for example, for paid sick leave – into companies’ existing benefits. They also wonder what will happen if some forms of help – such as the eight weeks of federal payroll reimbursements for small businesses – end before the health crisis eases.

One major federal program is the $349 billion Paycheck Protection Program, which offers forgivable loans to businesses with fewer than 500 employees. At least 75% of each loan must cover payroll for a period of eight weeks; money used on payroll, as intended, will be converted into grants.

“Not a lot of businesses in Rhode Island would not qualify for this,” said Hayward.

But Pryor noted that some lenders “were not

‘We are flying the plane as we are building it.’

MARK S. HAYWARD, U.S. Small Business Administration Rhode Island district director able to get off the starting line at the time of the national rollout” on April 3. The program has since run out of its allocation, and federal lawmakers were working on a deal to put more money into the program.

As of last week, Hayward said, PPP had made 8,700 loans in Rhode Island for an overall $1.3 billion, an amount he called “significant.”

Receiving the PPP money imposes specific bookkeeping work on businesses.

Businesses “need to carefully track the use of this money in a segregated payroll account so that you can track it more easily,” Del Sesto said. “If you don’t have a dedicated account for payroll, you should open one.”

CONTINUES ON PAGE 19

Working for a better tomorrow, together You don’t have to face business challenges on your own.

In times of uncertainty, you’re going to need every available resource. Lean on the ones that have the experience and resiliency to help weather the storm. Insperity’s mission has always been to help businesses succeed so communities prosper. That means focusing on the people, providing support and finding the best path forward.

Because, with perseverance and hope, we will get through this. insperity.com | 401.600.0319

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www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 17

401-521-HELP CommerceRI.com 18 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

CORONAVIRUS BUSINESS STIMULUS PROGRAMS | PBN SUMMIT CONTINUED FROM PAGE 17

Economic Injury Disaster Loans, an SBA program that existed before the coronavirus, received $10 billion from Congress in late March and is distributing loans of $1,000 per employee. These loans are for long-term needs. Hayward said Rhode Island businesses had received 58 of these loans as of early April.

Also, under a new employee retention credit, the IRS is allowing employers to retain 50% of their payroll taxes, up to $5,000 of eligible wages per employee. The big advantage here, McDonald said, is that no applications, approvals or paperwork are needed; the employer simply keeps money it normally would have paid in taxes. This benefit rises with the size of a company’s workforce, McDonald noted.

However, McDonald said, employers may not use this benefit if they are getting loans through PPP; that would be a case of double-dipping in two benefit programs for the same workers.

Another tax benefit is that, starting in the second quarter of this year, employers now may delay paying their share of Social Security taxes, without penalty. Ultimately, these deferred tax payments must be paid in two equal portions, due

by Dec. 30, 2021, and Dec. 30, 2022, McDonald said.

The federal government is temporarily imposing new rules for paid sick leave.

The Families First Coronavirus Response Act requires some employers to provide paid sick leave or expanded family and medical leave, the panelists said. The details of the act are extensive.

Generally, a worker who is sick with COVID-19 or is in quarantine must receive up to 80 hours of paid leave at full wages. Workers who need to care for a person subject to quarantine or a minor child must receive up to 80 hours of paid leave at twothirds normal wages.

“Employers can request documentation to allow

sick leave,” Yeates said. “Also, there are some exemptions for small businesses under 50 employees if the paid leaves would jeopardize the business.”

Paid sick leave will be reimbursed by the federal government, McDonald said. But workers out on sick leave may not be counted – during the weeks they are out – by employers in applications for the PPP; that would amount to using two benefit programs for one person.

Some questions from the summit audience alluded to double-dipping or other complications of piggybacking federal help onto existing company policies, such as sick-leave policies already in place.

Double-dipping into the variety of assistance programs is something all companies – including a lot of harried managers trying to digest lots of new information – must carefully avoid in dealing with many of FAR-FLUNG PANELISTS: Providence Business News’ Coronavirus these programs, McDonald said.

Stimulus Program Summit took place online on April 16. The panel“Folks need help figuring out ists were at separate locations during the event. how to put this all together so that they don’t combine programs that may not be combined,” she said. “It’s difficult to manage.” returned to the government, and how?

Some audience members wondered about get“I don’t think Congress’ intent was for this to ting tripped up by the rules: what if the company be punitive,” said Hayward. “Collectively we are was able to spend only a percentage of the PPP trying to walk down the road and to figure this out money for payroll and a different percentage for in the best interests of the community. We want to the PPP money for other uses? Must the money be get beyond this.” n

Providing Legal and Business Counsel During COVID-19 Pierce Atwood partner Stephen Del Sesto is a highly-regarded business attorney, advising businesses of all sizes on issues related to formation, growth, sale, and reorganization. He also serves as general corporate counsel to a variety of small and medium-size organizations, providing him with a keen understanding of the challenges businesses are now facing.

During these uncertain times, firm business clients have come to rely on Stephen to provide guidance and counsel on state and federal COVID-19 stimulus packages, where he offers a steady hand to help navigate the complex route to obtaining much-needed loans and grants.

Please contact Stephen today if your business needs guidance with federal or state COVID-19 programs. Stephen can be reached at 401.588.5113 or sdelsesto@pierceatwood.com.

Pierce Atwood. There’s a reason…

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• 26TH FLOOR • PROVIDENCE, RI 02903 • PIERCEATWOOD.COM • 401.588.5113 www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 19

FOCUS | COMMERCIAL REAL ESTATE

Pandemic could alter way companies view offices

BY ELIZABETH GRAHAM | Graham@PBN.com

WITHIN

a few weeks after the first COVID-19 case was confirmed in Rhode Island, working from home became the norm.

Suddenly, many commutes consisted of grabbing coffee from the kitchen and finding a secluded spot to work on a laptop computer.

Work-appropriate attire need only be worn from the waist up, and even then only for video conferences with clients or colleagues. But will home offices begin to replace those in commercial buildings once the coronavirus pandemic ends?

Opinions vary among leading commercial real estate specialists in Rhode Island.

“Before the pandemic, we were already seeing a shift in office workers who would choose to work remotely,” said Michael P. Lefrancois Jr., president and chief consultant of Regal Consulting Group in East Greenwich.

“But now that’s been forced, and I think office users who had the ability to work

from home before may do it more, or people who didn’t like to work from home before now find that working remotely works for them.”

Some people who have always liked keeping home and work separate may find they are wary of returning to an office full of people, while others who’ve preferred to work at home may discover they’ve had their fill, Lefrancois noted.

“It will be hard to tell until all of this is over and we see how people’s behaviors have changed,” he said.

Thomas O. Sweeney, who serves as principal and chief appraiser at Sweeney Real Estate & Appraisal in Providence and president-elect of the Rhode Island Commercial and Appraisal Board of Realtors, recalled attending a conference about 30 years ago in which experts predicted that the demand for office space was soon going to fade as technology continued to connect workers to their jobs.

However, the trend never blossomed.

“The reality is most companies have determined there is a benefit from hav-

HOLDING STEADY: Michael P. Lefrancois Jr., president and chief consultant of commercial real estate agency Regal Consulting Group in East Greenwich, says there’s still demand for commercial real estate during the coronavirus pandemic, and no evidence that property values are declining.

PBN PHOTO/ MICHAEL SALERNO

‘I think we’re going to see some changes happen that could affect the market to some extent.’

DONALD MORASH JR., Abbott Properties LLC partner and broker 20 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

ing people all in one space because that’s how collaborations and innovation happens,” Sweeney said.

Once the public health crisis abates, offices will still be filled, he said, although he and others foresee potential changes in how companies use office space.

Changes could potentially spring from a sudden forced reliance on technologies such as Zoom and other platforms that allow for virtual meetings and project collaboration.

“Office space in particular will adapt; there might not be as much density,” Sweeney said.

The realization of what’s possible may be eye-opening to some, especially those looking to tighten overhead spending, said Donald Morash Jr., a broker and partner at Abbott Properties LLC in Warwick.

“I think people … can see what they might be able to cut out. Do they really need a 2,000-square-foot office?” he said. “I think we’re going to see some changes happen that could affect the market to some extent.”

But to what extent? Most in Rhode Island’s commercial real estate arena agree that it’s too early to say.

If large companies allow more workers to stay home and scale down their offices, that could open opportunities for small companies that previously were hard-pressed to find space at the right cost and size, Morash said.

Timing, too, may factor into whether commercial properties could see a change in use, as banks, landlords and investors anxiously wait for the economy to rev up again.

“Everybody is hoping that we get back to work, but the question then is, is it going to come back immediately, or is it going to take another 30 to 60 days to have the economy tick back up?” said Karl Sherry, a partner at Hayes & Sherry Ltd. in Providence.

“As long as we can get this straightened out [in a] month or two we’ll be all right.”

But while office and retail space may be top of mind when it comes to a difference in usage, it’s doubtful that industrial space will see much change, Sweeney said, citing a prepandemic 5% vacancy rate.

“We were a very tight real estate market before this,” he said. “I think retail is going to shift, but the restaurants that can reopen are going to do well because there’s going to be pentup demand.”

Still, the coronavirus hasn’t forced demand for commercial real estate in the Ocean State into total hibernation.

Although Morash’s company was in the midst of several transactions that were put on hold once the pandemic gained strength, he is still receiving requests from buyers looking for specific types of commercial property.

Lefrancois is seeing the same thing, and he added, so far there’s no real evidence that property values are declining.

“When it comes to perceived value, it’s important to understand that most investors are making their buying decisions based on anticipated future benefits that the real property will produce,” he said. n

COMMERCIAL REAL ESTATE | FOCUS RENT

the independent store has two locations, the original site in Barrington Square, and a store in Garden City CONTINUED FROM PAGE 1 Center in Cranston. are agreeing to defer payments for the In both cases, the landlords have next several months, with the underworked with him, Shechtman said. He standing that the balances due will called both proactively, including Paocome later in the year. lino, who owns the site in Barrington.

In other cases, landlords expect the While Shechtman would not disrent will be paid, particularly if the close specifics, he said the resolution business remains open. doesn’t involve a rent forgiveness, In many cases, banks who hold but rather a deferral. In the case of mortgages are providing leniency Garden City, the landlord is a large to the property owners themselves, national management company. in the form of a three-month grace For the bookstore, the state-ordered period. closure has meant business is largely Joseph R. Paolino Jr., the manconducted online. It’s now beefing up aging partner of Providence-based its website and is taking orders from Paolino Properties L.P., has several customers for delivery and for pickup hundred business tenants leasing via a drive-up system. space within his properties. While Jennifer Massotti, general manevery discussion about a rent reducager of Barrington Books, has worked tion, or not paying the rent at all, through the crisis. She said the busiis a case-by-case situation, he said ness is almost more customer-focused he is sympathetic to small-business than it was in the past. She spent a ­owners. day texting “This photos of puzis when as zles available Rhode Islandin the store to ers, we need one customer. to show our For Easter, compassion,” traditionPaolino said. ally a big sales “For the mom weekend, the and pops, that store created small-business individualized person, if they Easter baskets have a restauwith a book, rant, a beauty a game and a salon, a nail plush animal, salon, a dry and then put cleaner, a pizza them up for parlor, an art sale online. gallery, whatThey sold 74 of ever it may be, them. they are not “In some in business. regards, it’s So we need to refreshing.

JOSEPH R. PAOLINO JR., understand We’re going Paolino Properties L.P. that.” old school,” managing partner Paolino Massotti said. recently hired Shechtman Bill White, forsaid he has had mer CEO and president of Coastway to furlough staff but hopes to bring Community Bank, to help his tenthem back. He has applied for the PPP ants complete the application for the program. A survivor of multiple recesfederal Paycheck Protection Program, sions, he’s worried for small busiwhich can allow small businesses to nesses in the state. maintain their payrolls during the Despite the online sales, and the COVID-19 crisis. Applications have to continued sales to institutional clibe made through banks, and not all of ents, such as schools, store sales are them have made the process easy for down about 65% since the pandemic small businesses, he said. appeared, he said. “The retail environBarring immediate federal help, ment is challenging for small business Paolino said he’s telling small-busiwithout COVID-19. Very challenging. ness tenants to not let the rent keep This is really, I think a lot of small them up at night with worry. businesses aren’t going to survive “I’m going to the restaurants,” he this,” he said. said. “I’m telling them, ‘Don’t let your Given that the rent and utilities rent to Joe Paolino keep you up at are, beyond payroll costs, the most night.’ ” significant monthly bill for employFor national tenants, or for busiers, landlords need to be realistic, said nesses that remain open for business, Neil Amper, vice president of Caphe is less sanguine. stone Properties.

“I have a national tenant in one of The company manages dozens our shopping centers who’s open. And of commercial properties in Rhode they don’t want to pay the rent. I said Island. to them, that is a problem,” Paolino Some tenants are continuing to pay said. “They’re a national tenant. My the rent, as agreed, and others have feeling is if you are a national tenant, stopped entirely, he said.

I have a little less compassion.”

“We have tenants on Thayer One of his tenants is Barrington Street,” he said of the popular comBooks, owned by Stephen Shechtman. mercial strip in the College Hill In business for more than 30 years, neighborhood of Providence. “And the

‘My feeling is if you are a national tenant, I have a little less compassion.’

CUSTOMER-FOCUSED: Jennifer Massotti, general manager of Barrington Books in Barrington, holds up a bag with a thank-you note, which she wrote for all curbside-pickup orders. The small business was able to secure flexibility on rent payments from the landlords for both of its locations, in Barrington and Cranston.

PBN PHOTO/MICHAEL SALERNO

majority of the tenants depend on the students. The students are gone. And … they depend on the school year to get them through the summer, when it’s slower.”

Some landlords have been more generous than others, he said, when giving flexibility on rent payments.

Manufacturers who are Capstone clients are still open, he said. Many retailers are shut down.

Whenever businesses ask for a rent accommodation, Capstone refers them to the landlord. “It depends what type of business you have,” Amper said.

“Some restaurants have drive-up.

Even with the drive-up, some of them have said, ‘Can I get a reduction in my rent?’ Even if they’re in business.

Business may be down, but they’re still doing business.”

One client has a plaza of retail

shops in Cranston, Amper said.

“He has maybe 15 tenants,” he said.

“There are only two paying. Some have called him. Others are not ­paying.”

Some landlords have the flexibility to accommodate this disruption for months, he said. Others may not. But property owners know that it can be expensive to replace a tenant. And in the current environment, rents for a new tenant will likely decrease.

Most landlords will try to keep their tenants.

So far, the discussions over rent that Amper has been a part of have remained calm in a time of crisis.

“There’s no people yelling at each other,” he said. “It’s a period of time where if you don’t have some understanding of it, you’re not very bright.” n

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www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 21

FOCUS | |RHODE ISLAND COMMERCIAL REAL ESTATE SALES - RETAIL RHODE ISLAND COMMERCIAL REAL ESTATE (listed by sale price on 2019 transactions) (listed by sale price on 2019 transactions) Address 550 Waterfront Drive, East Providence

Buyer RI Waterfront Enterprises LLC

Seller Providence & Worcester Railroad

Broker Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield/MG Commercial

111-115 Dupont Drive, Providence

CF Ocelot PVD LLC

TEG Realty LLC

31 West Main Road, Middletown 1114 Broad St., Central Falls 988 Centerville Road, Warwick 7540 Post Road, North Kingstown

31 West Main LLC

Radha Krishna LLC

MG Commercial

John Shekarchi Roth IRA Account

Combine Distributing Inc.

Store Build

RDT Realty LLC

Ocean State Job Lot Charitable Foundation

The YMCA of Greater Providence

2381 Post Road, Warwick

Home Loan Investment Bank

Joni Auto Rentals

711 Broad St., Providence

Kostantinos Dokos

PJC Realty Corp.

Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal Hayes & Sherry Ltd., Cushman & Wakefield/ Abbott Properties Hayes & Sherry Ltd., Cushman & Wakefield

1350 Mineral Spring Ave., North Providence

Providence Picture Frame Co.

Petrarca Realty Inc.

MG Commercial

286 Valley St., Providence

Konstantinos Dokos

Colbea Enterprises LLC

389 Elmwood Ave., Providence

Church of the Epiphany

Global Cos. LLC

881 Dyer Ave., Cranston

Curreri Collision

Stromberg Realty Inc.

30 Jefferson Blvd., Warwick

30 Jefferson LLC

Springsale Enterprises

5 Washington St., West Warwick

Thundermist Health Center

Kostantinos Dokos

1627 West Main Road, Portsmouth 7380 Post Road, North Kingstown 745-747 Bullocks Point Ave., East Providence

High Street Capital Partners LLC

A-1 Roofing & Construction

Konstantinos Dokos

Colbea Enterprises LLC

Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield/ Sweeney Real Estate & Appraisal Hayes & Sherry Ltd., Cushman & Wakefield/ Sweeney Real Estate & Appraisal Sweeney Real Estate & Appraisal Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal Sweeney Real Estate & Appraisal

Square footage Date of sale 100,000 June 2019

Sale price

76,660 June 2019

$3,600,000

17,503 Nov. 2019 10,710 Dec. 2019 5,000 Nov. 2019 20,000 Sept. 2019

$2,550,000

$1,000,000

12,819 Oct. 2019

$975,000

10,427 April 2019 13,700 Nov. 2019 3,000 Dec. 2019 1,794 Feb. 2019 9,200 April 2019

$925,000

$680,000

7,800 Oct. 2019

$600,000

8,726 Nov. 2019

$550,000

3,200 Jan. 2019 2,144 Oct. 2019 4,243 Jan. 2019 6,000 Nov. 2019

$550,000

$375,000

$2,300,000 $1,050,000

$840,000 $775,000 $700,000

2 Station St., Coventry

ABJ Real Estate

164 Danielson Pike, Foster

Wolf Properties LLC

Sweeney Real Estate & Appraisal

2,964 Sept. 2019

$375,000

734 Eddy St., Providence

Flames Restaurant LLC

Seven Thirty Four LLC

MG Commercial

$375,000

61 Dupont Drive, Providence 1528 Old Louisquisset Pike, Lincoln

Bluewater Industrial Partners LLC

Item Realty II LLC

Jenny D'Agostino

Richard & Donna J. Dressler

Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal

2,000 Oct. 2019 43,560 June 2019 3,000 Feb. 2019

Seller

Broker

310-340 Rhode Island Ave., Fall River

Lykos Properties LLC

CAJ Southway Plaza LLC

NA

1512 South Main St., Fall River

Ajax Realty LLC

Brockton Pharmacy LLC

NA

2 Galleria Mall Drive, Taunton

Silver City Holdings LLC

Crefii Silver City LLC

NA

328 Rhode Island Ave., Fall River

Manh Properties LLC

Docwag Fall River LLC

NA

634 State Road, Dartmouth

TMI Properties Dartmouth

634 State Road LLC

NA

2 Galleria Mall Drive, Taunton

Crefii Silver City LLC

Macy's Retail Holdings Inc.

NA

64 Stevens St., Fall River

64 Stevens Street LLC

RKG RT

NA

654 State Road, Dartmouth

TMI Properties Dartmouth

654 State Road LLC

NA

553 Kelley Blvd., North Attleboro

Heather Marie LLC

Joes Clubhouse LLC

NA

1585 New State Highway, Raynham

Right Foot Real Estate LLC

Coletti Realty Partnership

NA

877 South Washington St., North Attleboro

877 South Washington LLC

Blue Hills Fuels LLC

NA

403 Winthrop St., Taunton

Taunton FCU

Cullen 403 Winthrop Street

NA

910 Pleasant St., Fall River

Saint Annes CU of FR

Quarry Street Realty Corp.

NA

430 Taunton Ave., Seekonk

Trillium Fuel Real Estate

Colbea Enterprises LLC

NA

6 Mozzone Blvd., Taunton

TGI Fridays Inc.

GC Fridays Boston LLC

NA

179 Swansea Mall Drive, Swansea

125 Swansea Mall Drive LLC

Southbridge LLC

NA

658 Pleasant St., Fall River

Durfee & Central Street Realty

Manuel P. Louro

NA

14 Ventura Drive, Dartmouth

14 Ventura Drive RT

Josh Family LP

NA

31-47 Rodman St., Fall River

Rivera Realty LLC

Ana P. Almeida

NA

1708 South Main St., Fall River

A Labib RT Inc.

RJB RT

NA

350 Faunce Corner Road, Dartmouth

350 Faunce Corner Road LLC

Marc E Kaner RET 2011

NA

115 Huttleston Ave., Fairhaven

Huttleston Package LLC

Total Confections LLC

NA

229 Weir St., Taunton

KVMG Inc.

229 Weir Street RT

NA

22 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

550 Waterfront Drive, East Providence Square footage: 100,000

2

111-115 Dupont Drive, Providence Square footage: 76,660

3

61 Dupont Drive, Providence Square footage: 43,560

$335,000 $270,000

FOCUS | |BRISTOL FOCUS BRISTOL COUNTYCOMMERCIAL COMMERCIALREAL REALESTATE ESTATE SALES SALES -- RETAIL RETAIL (listed by sale price on 2019COUNTY transactions) Buyer

1

$380,000

Wyle Al Mulkie Central Coventry Fire District Brenda M. Lindsay of Sterling, Conn., and Janet L. Brayton of Foster

Address

Top sales re-ranked by square footage:

$382,500

Raymond and James Berry

(listed by sale price on 2019 transactions)

CLOSER LOOK

$4,500,000

Square footage Date of sale 117,881 Feb. 2019 14,976 April 2019 100,000 June 2019 14,814 Feb. 2019 24,508 Aug. 2019 100,000 Jan. 2019 547 July 2019 15,438 Aug. 2019 11,012 Oct. 2019 22,236 Dec. 2019 1,056 Oct. 2019 1,960 Dec. 2019 8,800 Feb. 2019 1,603 May 2019 5,746 March 2019 7,000 May 2019 8,228 Feb. 2019 5,250 Sept. 2019 3,001 July 2019 1,902 May 2019 4,756 May 2019 8,479 Nov. 2019 1,232 June 2019

Sale price $11,500,000 $8,500,000 $7,500,000 $7,300,000 $2,664,445 $2,400,000 $1,800,000 $1,695,555 $1,350,000 $1,315,367 $1,079,401

Top sales re-ranked by square footage:

1

310-340 Rhode Island Ave., Fall River Square footage: 117,881

2 (tie)

2 Galleria Mall Drive, Taunton Square footage: 100,000

2 (tie)

2 Galleria Mall Drive, Taunton Square footage: 100,000

$1,000,000 $925,000 $925,000 $884,737 $820,000 $800,000 $750,000 $750,000 $730,000 $715,000 $681,500 $680,000

LIST RESEARCHED BY Cassius Shuman NEED A COPY? To purchase a copy of this list, call (401) 273-2201 or visit PBN.com/lists.html for more information.

UPCOMING LISTS Rhode Island SBA Lenders, Rhode Island’s Largest SBA Loans (May 1); Rhode Island Health & Dental Insurers, Massachusetts Health & Dental Insurers (May 8) WANT TO JOIN? For more information about participating in PBN’s Top Lists, or to make additions or corrections, call (401) 6804884 or write to Shuman@ PBN.com.

| FOCUS | RHODE ISLAND COMMERCIAL REAL ESTATE SALES OFFICE RHODE ISLAND COMMERCIAL REAL SALES OFFICE (listed by sale price on 2019 transactions) (listed by sale price on 2019 transactions) Address 120 Centerville Road and 45 Gilbane St., Warwick 31 James P. Murphy Highway, West Warwick

Buyer

Seller

Broker Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield

CHCT Rhode Island LLC

Trilogy WBO Realty LP

1119922 Ontario Limited

31 JPM LLC

756-758 Eddy St., Providence

Rick Lincoln

Seven Five Six LLC

MG Commercial

530 Broadway, Providence

Michael Lemoi

Northborough Realty Holdings

41-45 & 51 Bassett St., Providence

PEBB 41 Bassett Providence LLC

SPW Realty Co.

Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield

851 Main St., Warren

Racing Green LLC

851 Main St. Associates

20 Catamore Blvd., East Providence

Rafael Castro

Melcor Inc.

Olympus Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal Sweeney Real Estate & Appraisal Hayes & Sherry Ltd., Cushman & Wakefield Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal

1350 Division Road, West Warwick

Brad Ingegneri

RAM Gardens LLC

40 Old Louisquisset Pike, North Smithfield

Cavco Real Estate LLC

Olp Associates LLC

742 Ten Rod Road, Exeter

Robert Benoit

National Sheriffs Association

1300 Division Road, West Warwick

B Dock Properties LLC

RAM Gardens LLC

1300 Division Road, West Warwick

Eliot Rose Wealth Management

Scandia Ventures LLC

14 Imperial Place, Providence

Grace Harbor Church

Wilbur Yoder

170 Rhodes St., Providence

Wellness Connect

White Rabbit LLC

MG Commercial

313 Pond St., Woonsockett

73C3 LLC

Rick Land, receiver for HEDCO

Brown University

Greater Providence Board of Realtors

Sweeney Real Estate & Appraisal Sweeney Real Estate & Appraisal

365 Eddy St., Providence

Square footage Date of sale 21,000 July 2019 30,000 Jan. 2019 16,500 Aug. 2019 17,000 June 2019 14,733 Sept. 2019 10,000 Jan. 2019 14,200 June 2019 7,102 March 2019 6,080 March 2019 4,380 Aug. 2019 2,629 June 2019 2,627 Oct. 2019 2,828 Oct. 2019 2,000 Dec. 2019 4,504 Dec. 2019 1,663 March 2019

Sale price $6,059,300 $2,500,000 $1,670,000 $1,500,000 $1,300,000 $1,225,000 $1,120,000 $820,000 $780,000 $375,000 $353,700 $339,000 $300,000 $275,000 $210,000

(listed by sale price on 2019 transactions) Buyer

Seller

Broker

21 East St., North Attleboro

JSIP 21 E QOZ Prop Owner LLC

21 East LLC

NA

235 Hanover St., Fall River

HP 3 Providence LLC

Hanover Mob LLC

NA

385 Myles Standish Blvd., Taunton

ICBP 4 Holdings 33 LLC

Myles Property Owner LLC

NA

495 New Boston Road, Fall River

MA Kim Holdings LLC

Encore MA 2 LLC

NA

2045 Grand Army of the Republic Highway, Swansea

Massachusetts SNF 6 LLC

2045 Grand Army Highway LLC

NA

700 Myles Standish Blvd., Taunton

BJT Hotel LLC

Weilsi LP

NA

440 Myles Standish Blvd., Taunton

TSC Myles Standish 440

Berardi Properties LLC

NA

240 Dover St., Fall River

CSDC Facilities Corp.

Sherwood Education LLC

NA

250 Snell St., Fall River

CSDC Facilities Corp.

Sherwood Education LLC

NA

216 Huttleston Ave., Fairhaven

3000 Property Associates

TMI Properties Fairhaven

NA

2200 Grand Army of the Republic Highway, Swansea

Brick Wall Real Estate

Stony Hill Corner Realty

NA

540 Hawthorn St., Dartmouth

Nemunas LLC

Thermax Inc.

NA

17 South Washington St., North Attleboro

17 S. Washington St. RT

Owen Kiernan

NA

12 Taunton Green, Taunton

Quynh H. Le

S-BNK Taunton Green LLC

NA

716 County St., Taunton

Gesner Realty LLC

G&R Holdings LLC

NA

595 Winthrop St., Taunton

Farrell Advantage Taunton

Rosalie H. Franks Trustee

NA

1253 Broadway, Raynham

David J. Sparks et al Trustees

Richard J. Donato Trustee

NA

201 Rock St., Fall River

Biodun Akande Realty LLC

Mark S. Defarias

NA

244 Broadway, Taunton

KM Realty Investment LLC

KM Realty Investments LLC

NA

635 Fall River Ave., Seekonk

Colette Geha

Chantol Tho

NA

355 East Main St., Norton

GCH Properties LLC

Todd A. Mello

NA

17 Oxford St., Taunton

Carlo Daniel

Aspen Properties Group

NA

Square footage Date of sale 98,369 Feb. 2019 42,319 Sept. 2019 100,000 June 2019 55,148 Nov. 2019 29,742 Oct. 2019 200,000 Jan. 2019 37,140 Feb. 2019 20,712 Sept. 2019 5,698 Sept. 2019 10,350 July 2019 8,921 Feb. 2019 9,594 Oct. 2019 7,044 Dec. 2019 31,270 Jan. 2019 3,420 May 2019 5,670 June 2019 2,048 Nov. 2019 4,353 May 2019 1,569 Aug. 2019 6,190 May 2019 6,312 Nov. 2019 1,440 Dec. 2019

Top sales re-ranked by square footage:

1

31 James P. Murphy Highway, West Warwick Square footage: 30,000

2

120 Centerville Road and 45 Gilbane St., Warwick Square footage: 21,000

3

530 Broadway, Providence Square footage: 17,000

$195,000

FOCUS ||BRISTOL BRISTOLCOUNTY COUNTYCOMMERCIAL COMMERCIAL REAL ESTATE SALES --OFFICE SALES OFFICE (listed by sale price on 2019 transactions) Address

CLOSER LOOK

Sale price $20,000,000 $16,070,000 $11,500,000 $8,957,379 $7,820,000 $7,152,301 $5,401,200 $4,250,000 $4,250,000 $4,080,000 $1,153,000 $1,050,000 $1,050,000 $700,000 $650,000 $585,000 $375,000 $350,000 $345,900 $340,000 $330,000 $327,500

Top sales re-ranked by square footage:

1

700 Myles Standish Blvd., Taunton Square footage: 200,000

2

385 Myles Standish Blvd., Taunton Square footage: 100,000

3

21 East St., North Attleboro Square footage: 98,369 LIST RESEARCHED BY Cassius Shuman NEED A COPY? To purchase a copy of this list, call (401) 273-2201 or visit PBN.com/lists.html for more information.

UPCOMING LISTS Rhode Island SBA Lenders, Rhode Island’s Largest SBA Loans (May 1); Rhode Island Health & Dental Insurers, Massachusetts Health & Dental Insurers (May 8) WANT TO JOIN? For more information about participating in PBN’s Top Lists, or to make additions or corrections, call (401) 6804884 or write to Shuman@ PBN.com.

www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 23

FOCUS ||RHODE ISLAND COMMERCIAL REAL ESTATE SALES SALES--INDUSTRIAL INDUSTRIAL RHODE ISLAND COMMERCIAL REAL (listed by sale price on 2019 transactions) (listed by sale price on 2019 transactions) Address

Buyer

Seller

120 Moscrip Ave., North Kingstown

Johnson Brothers of RI Inc.

QP LLC

Broker MG Commercial

125 Ernest St., Providence

Choice Realty LLC

Shane Realty LLC

825 Waterman Ave., East Providence

Petro Driver Transportation Equipment

A.T. Wall

Sweeney Real Estate & Appraisal Hayes & Sherry Ltd., Cushman & Wakefield

1 Weingeroff Blvd., Cranston

P.K. Lamb Properties Inc.

Weingeroff Enterprises Inc.

MG Commercial

200 First Ave., Cranston

Vemaline Products Inc.

Weingeroff Enterprises Inc.

155 Pawtucket Ave., Pawtucket

Colonial Mills

Buston LLC

382-420 & 780 Harris Ave., Providence

Christopher Leone

The Bone House LLC

269 Macklin St., Cranston

Finishing Trades Institute

Couto Real Estate LLC

MG Commercial

37 Tripps Lane, East Providence

Properties Three E LLC/ Properties Three S LLC

Scanlon Realty LLC

Sweeney Real Estate & Appraisal

Hayes & Sherry Ltd., Cushman & Wakefield/MG Commercial Hayes & Sherry Ltd., Cushman & Wakefield Sweeney Real Estate & Appraisal

9 Industrial Way, East Providence

A&M Sheetmetal and Roofing

Elaine Hale

MG Commercial

26 Field St., Cranston

2639 Capital Investments LLC

Estate of Edward J. Imperatore

205 Hallene Road, Warwick

Woodie Realty LLC

Mackie Realty LLC

Sweeney Real Estate & Appraisal Sweeney Real Estate & Appraisal

Square footage Date of sale 45,712 Oct. 2019 34,500 July 2019 24,530 June 2019 56,614 Nov. 2019

Sales price $2,150,000 $1,500,000 $1,500,000 $1,400,000

38,240 June 2019

$1,225,000

70,000 Jan. 2019 21,649 March 2019 12,000 Sept. 2019 18,564 May 2019 7,680 Dec. 2019 4,160 Sept. 2019 2,600 Dec. 2019

$1,200,000 $1,000,000 $675,000 $625,000 $399,000 $235,000 $172,500

FOCUS ||BRISTOL BRISTOLCOUNTY COUNTYCOMMERCIAL COMMERCIALREAL REAL ESTATE ESTATE SALES FOCUS SALES--INDUSTRIAL INDUSTRIAL (listed by sale price on 2019 transactions) (listed by sale price on 2019 transactions) Address

Buyer

Seller

Broker

800 John Quincy Adams Road, Taunton

Stag Industrial Holdings

Big Box Property Owner F1

NA

150 Charles F. Colton Road, Taunton

LIPT Charles F. Colton Road LLC

Realty Associates Fund 11

NA

7 Ledgewood Blvd., Dartmouth

AGNL Pane LLC

Harvey Propco LLC

NA

645 Myles Standish Blvd., Taunton

645 Myles Standish LLC

Royal Contract Property

NA

420 Currant Road, Fall River

Big Dog Operating LLC

Tye Corp.

NA

605 Myles Standish Blvd., Taunton

Rileyshay LLC

605 Myles Standish LLC

NA

965 Reed Road, Dartmouth

AGNL Pane LLC

Harvey Propco LLC

NA

645 Myles Standish Blvd., Taunton

Poyal Contract Property

Williams RT

NA

436 Winthrop St., Taunton

MHC 62 LLC

Meetinghouse Realty Investments

NA

45 John L. Dietsch Blvd., North Attleboro

45 John Dietsch LLC

45 John Dietsch Blvd. LLC

NA

500 John L. Dietsch Blvd., North Attleboro

Bells Realty Inc.

John Dietsch Blvd. Realty

NA

502 Bedford St., Fall River

Tigir LLC

Pepperell Mills LP

NA

55 Constitution Drive, Taunton

HC 5 LLC

Benson RT

NA

300 John L. Dietsch Blvd., North Attleboro

MKF Realty LLC

R B Rogers Inc.

NA

21 Ventura Drive, Dartmouth

MIH 1 LLC

Northeast Distributors

NA

72 Pond St., Seekonk

72 Pond St. Realty LLC

Jeffrey H. Fisk

NA

994 Jefferson St., Fall River

Spectrum Realty LLC

Raymond A. Guay

NA

507 Alden St., Fall River

CML 2 LLC

Leonard S. Chace 3rd RET

NA

58 Orne St., North Attleboro

Tocoad 2 LLC

David J. Langille

NA

45 Old Fall River Road, Seekonk

45 Old Fall River LLC

Lionel Family Rentals LLC

NA

75 Weaver St., Fall River

75 Weaver LLC

Weaver Cove Mill LLC

NA

20 Ventura Drive, Dartmouth

Josh Family LP

Alonzo V. Jason

NA

24 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

Square footage Date of sale 300,000 Feb. 2019 60,400 Aug. 2019 300,000 Oct. 2019 100,000 July 2019 62,752 Nov. 2019 76,139 Jan. 2019 63,300 Oct. 2019 100,000 July 2019 32,800 Oct. 2019 44,080 Dec. 2019 47,000 May 2019 200,000 Feb. 2019 30,306 Nov. 2019 1,750 April 2019 13,850 April 2019 8,000 Sept. 2019 10,400 Jan. 2019 21,712 June 2019 960 Nov. 2019 4,800 Aug. 2019 9,563 May 2019 7,200 Nov. 2019

Sale price $26,425,000 $25,700,000 $24,000,000 $9,300,000 $6,749,999 $6,000,000 $5,200,000 $4,821,785 $2,707,500 $2,476,000 $2,200,000 $2,082,899 $2,000,000 $1,345,000 $800,000 $800,000 $500,000 $475,000 $300,000 $275,000 $245,000 $238,521

CLOSER LOOK

Top sales re-ranked by square footage:

1

155 Pawtucket Ave., Pawtucket Square footage: 70,000

2

1 Weingeroff Blvd., Cranston Square footage: 56,614

3

120 Moscrip Ave., North Kingstown Square footage: 45,712

Top sales re-ranked by square footage:

1

(tie)

1

(tie)

800 John Quincy Adams Road Square footage: 300,000

7 Ledgewood Blvd., Dartmouth Square footage: 300,000

3

502 Bedford St., Fall River Square footage: 200,000 LIST RESEARCHED BY Cassius Shuman NEED A COPY? To purchase a copy of this list, call (401) 273-2201 or visit PBN.com/lists.html for more information.

UPCOMING LISTS Rhode Island SBA Lenders, Rhode Island’s Largest SBA Loans (May 1); Rhode Island Health & Dental Insurers, Massachusetts Health & Dental Insurers (May 8) WANT TO JOIN? For more information about participating in PBN’s Top Lists, or to make additions or corrections, call (401) 6804884 or write to Shuman@ PBN.com.

IT’S PERSONAL Lamprey gifts PC $500K FAITH E. LAMPREY, a full-time practitioner faculty member in accountancy at Providence College, donated $500,000 to the School of Business to fund the creation of a computer laboratory, establish a Data Analytics Fellows Program and support the Transitions Program, a preorientation summer program for multicultural and first-generation students who enter the school. Her donation will allow PC to purchase 40 computers, eight flatscreen TVs and a central pod for instructors. Lamprey, who has been teaching at PC since 2013, was awarded the Dean’s Award for teaching excellence last spring. She earned an MBA in management science from the University of Rhode Island in 1977, then worked at Arthur Young & Co. and Daly & Wolcott Inc. before starting Aurora Technologies in 1996, which later became Aurora Technologies/ EDI Support Inc., which she sold in 2019. Lamprey worked as a computer auditor, systems analyst and programmer, and computer consultant before starting her own company.

What was the catalyst that led you to make such a sizable donation to the school?

When I sold Aurora Technologies, I realized that I now had the funds to give back in a meaningful way and felt it was time for me to do that. Providence College has been so supportive of me and is such an amazing place, I could not think of a better place for this gift.

What made you transition from a computer consulting business to teaching business at Providence College?

I always taught part-time and found I enjoyed working with the students. Selling one of my businesses gave me time to teach more classes.

Is teaching business part of your “giving back” since you have achieved success in the business world?

It is important to share real-world experiences with students. It is great that the Providence College business school utilizes some practitioner faculty, like me, to bring their experiences in the business world into the classroom.

What have you learned from the business world that you emphasize when teaching data applications in business to your students?

Attention to detail is very important in business and my class is definitely very detailed. We take a deep dive into [Microsoft] Excel and the students must learn to check their work for accuracy and completeness before submitting it. We talk a lot about what a company expects from their employees and how to achieve success in their careers.

What plans or innovative ideas do you hope to implement in the future?

Providence College is now a certified Microsoft testing center, and I am pleased to have added Microsoft Excel certification testing into my class this year. Over the next year, I look forward to working with Dean [Sylvia] Maxfield to develop the Data Analytics Fellows Program to assist students in growing their skills in using technology to analyze data to help companies make decisions, solve problems and grow their businesses. n

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IT’S PERSONAL MACKAY’S MORAL | HARVEY MACKAY

Right way to take risks GOLFER ADAM SCOTT had a two-shot lead during the final round of the Genesis Invitational golf tournament at the Riviera Country Club in Los Angeles in February when he found trouble and a bunker on the 15th hole.

Knowing a safe shot might cost him the lead, he changed his mind.

“I thought, ‘Well, you can maybe win the tournament if you hit a great flop shot here.’ So, I thought I might as well go for it,” Scott said after winning the tournament on Feb. 16. The flop shot dropped to within 5 feet of the pin, allowing him to escape with a bogey and not lose his lead.

We all must learn to take calculated risks. When I am speaking to corporate audiences, I always say, “Sometimes it’s risky not to take a risk. Let me put it differently. If you walk backward, you’ll never stub your toe.”

The biggest lesson I can pass on is to not be afraid to take calculated risks. If you win, you will be happy. If you lose, you will be wise.

Some people are born risk-takers.

They are more comfortable making decisions that may not work out, but they usually have a plan to get past it.

For others, making more-pragmatic decisions is more in line with their

comfort zone. But those folks also run the risk of regretting actions they did not take.

Successful people have learned how to refuse to let fear get the best of them. You can learn to control your fear and rise to reasonable challenges.

Start by analyzing your memories. Look back over your life. What situations have made you feel afraid?

Were there common denominators?

Perhaps most important, when was the last time you were afraid of some action and did it anyway? Sometimes, taking the plunge is the only way to see if you made the right call.

Consider your responsibilities.

Examine your priorities at work and in your life. If some activities make you fearful, ask yourself why you are afraid of them. Past experiences that ended badly, taking chances when you couldn’t calculate the possible outcomes, concerns about how staff or management will react – all these factors need to be evaluated to assess how much risk is acceptable.

When a situation makes you

nervous, try to think of the worst outcome that could realistically happen.

Examining the possibilities ahead of time will prepare you to avoid pitfalls. But it is important to think about how you would react if the outcome could potentially hurt your business or career irreparably.

Then shift your focus. When you’re confronted by a task that makes you fearful, stop and think about all the benefits it will produce in the end. Focus on those instead of on what’s making you feel scared.

Involve those with whom you are working or whom you are supervising to get their opinions and agreement. When the whole team has skin in the game, previously unidentified risks may be exposed and addressed.

Finally, look at some of the risks you’ve taken in the past. If most of them turned out well, figure out what made them work. Think about what actions you took that ensured success, and how you can duplicate those actions and decisions in other situations. Don’t ignore the failures though because you should also work to avoid

repeating the same mistakes.

Mark Twain lost more than one hard-earned fortune by investing in get-rich-quick schemes. According to one story, Twain once met a man seeking financing for his new invention. The man explained his machine, but the famous author had grown skeptical of such sales pitches and declined the opportunity to invest.

“I’m not asking you for a fortune,” the inventor persisted. “You can have as large a share as you want for $500.”

Twain shook his head. The invention just didn’t make sense to him. As the man sadly walked away, Twain called out, “What did you say your name was?”

“Bell,” he sighed. “Alexander Graham Bell.”

Mackay’s Moral: Don’t risk getting your “bell” rung like Mark Twain. n Harvey Mackay is the author of the New York Times best-seller “Swim With the Sharks Without Being Eaten Alive.” He can be reached through his website, www.harveymackay.com.

Work to avoid repeating the same mistakes.

GUEST COLUMN | JOHN GRAHAM

Don’t derail marketing MARKETING HAS NEVER BEEN a laidback, trouble-free game anyone can play. Today, it’s far more perilous than ever, particularly since prospective customers are moving targets.

While marketing can play a key role in a company’s success, it’s a fragile function.

Here are nine common mistakes that will doom a company’s ­marketing: n The boss as marketer-in-chief.

While there may be a marketing director or even a chief marketing officer, in many companies it’s the boss who calls the shots as to what works and what doesn’t. Although the boss may be knowledgeable in many areas, often marketing isn’t one of them. Those working in marketing get the message: either go along or go. n Lack of budget responsibility.

“Just let us know what you need and we’ll do it.” Even though the words sound helpful and supportive, control of the budget controls marketing. It makes a consistent and integrated marketing plan irrelevant, along with turning marketers into beggars.

n Always doing the same thing.

This is the “well-oiled” approach to marketing. Since everything is working smoothly, why make changes? It’s not only an appealing mistake, it’s also dangerous. Since conditions are always changing, marketing should be responding with more-appropriate customer-centric responses.

Like others, marketers do their best work when they challenge their own performance, identify missed opportunities, make data-driven decisions and get feedback from others in the company. n Failing to deal with unrealistic expectations. It’s common for marketers to be faced with unworkable expectations, particularly when it comes to time and cost considerations for marketing initiatives.

Without a clear agreement of expectations, marketers find themselves in the unenviable position of having to say, “But, I thought you meant …,” or “We don’t have the budget to do that.” n Not exploiting brand value.

Countless marketing messages shout self-serving messages in the hope

26 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

that something will stick.

Marketing’s job is creating customers who decide it’s in their best interest to do business with a brand.

Self-serving messaging begs the question: What do you offer that aligns with their lifestyle, values, aspirations or needs? In other words, taking advantage of your brand’s value. n Dropping marketing initiatives too soon. There’s always pressure to try something new and different.

While there can be good reasons for making changes, a strong case can be made for not quitting too soon.

Messages sink in slowly and action occurs when there’s a felt need. n Not engaging individual customers. “If you can’t give me exactly what I want, you don’t know me, so I’m gone.” This stark message tells the story. Fortunately, the expertise, data, techniques and channels are available to meet the challenge for engaging individuals. n Permitting constant interruptions. Uber’s CEO recently said the company’s 1,200-member marketing team was “bloated” and promptly fired 400 of them. Most marketing

teams are spread too thin. If that isn’t enough, they face a steady stream of interruptions. “Give it to marketing; they’ll take care of it.”

Marketers are good at solving problems. Yet, if they are expected to do their best work, there comes a time to say “no.” n Not having enough time. Marketing is all about creativity and that takes time. It can’t be forced like squeezing toothpaste out of a tube.

Teresa Amabile, a retired Harvard Business School researcher, along with others, studied the conditions for creativity and found that their subjects were most creative “under low to moderate pressure.” When under more intense pressure, they still felt creative, but, as Amabile says, “What they tended to get done was not their most important work. They tended to get done a lot of stuff that came flying to them, crises that arose.” n John Graham of GrahamComm is a marketing and sales-strategy consultant and business writer.

Contact him at jgraham@ grahamcomm.com.

IT’S PERSONAL GUEST COLUMN | JESSE ROBERTS

Phishing scams on rise COVID-19 HAS LED TO an unprecedented amount of organizations shifting to telecommuting or working remotely. This sudden surge of remote workers has left many companies scrambling to set up systems that can accommodate the influx of employees that now need to work from home.

While working remotely is not a new concept, it certainly was not the norm before this pandemic emerged.

There are many different security concerns that are introduced with a telecommuting workforce. Information-technology departments must ensure that workers have access to the resources they need without compromising the security of the organizations they support. The considerations that immediately come to mind include multifactor authentication, virtual private networks and centrally controlled antivirus protection, all of which should be implemented. But once all those items are implemented, there is still a gaping security vulnerability that needs to be addressed.

That vulnerability is people.

Most data and security breaches are the result of an initial instance of human error and not a technical exploit. Look at it from an attacker’s perspective: it requires far less effort to send out a bunch of fraudulent

emails hoping somebody clicks the link than it does spending a lifetime searching for a vulnerability in a firewall. Technical exploits can be patched, but you can never patch human error.

The single greatest human IT security vulnerability facing all industries is phishing. Phishing involves a malicious actor sending you an email that looks like it is from a trusted or known source. The email attempts to trick you into clicking a link, opening an attachment, or giving up some type of confidential information, which will lead to some sort of unwanted security breach or data exposure.

A successful phishing breach could bring with it a snowball effect, first exposing the credentials of a business email account, which allows the attacker to then send out further phishing emails to all the user’s contacts from a valid business email address.

This is what is known as a “business email compromise” attack.

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How does this relate to the current telecommuting situation?

Many remote workers want to show that they are in fact being as productive as possible, often feeling the need to open and respond to emails faster than normal. Many attackers are crafting phishing emails specific to COVID-19 and other urgent topics targeting remote workers.

Because of the sophistication of these emails, the apparent trusted email sender and the pressures of working remotely, the employee may quickly comply with the email’s directions. They may also fear that if they mistakenly mark a legitimate email as phishing, they will be viewed as incompetent and have wasted the time of the IT security department.

Unfortunately, these fears often lead to staff ignoring organizational email security policies. Most organizations have (or should have) a formal process for handling suspicious emails, and following these policies is always

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Many attackers are crafting phishing emails specific to COVID-19.

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the recommended method for dealing with suspected phishing attacks.

Users in most organizations have not had the proper training when it comes to spotting and responding to phishing. Organizations should make it very clear with staff what type of information and actions they will never ask for via email, including wire transfers and account credentials. Furthermore, organizations should immediately establish some sort of security awareness training and phishing simulation program.

There are many organizations across the country that offer such services.

You can give a dozen presentations on phishing and hand out a 20-page phishing policy booklet, but until employees receive hands-on training, they will not be prepared to identify a real attack when it arises. n

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OPINION EDITORIALS

State must keep public updated on COVID-19 death projections

FRONT LINES: Health workers type on laptops inside a COVID-19 patient tent set up outside the emergency department at Rhode Island Hospital in ­Providence.

COURTESY LIFESPAN CORP.

Do we really need to see more shifting projections of potential death tolls from the COVID-19 pandemic? The answer, sadly in Rhode Island’s case, is yes.

We were told not long ago, for example, the national death toll from the pandemic could have exceeded 1 million – if the nation did nothing to stop the spread. Those projections from the White House were then quickly revised to between 100,000 and 200,000 and now to about 60,000, as national models better account for social-distancing guidelines and other mandates that have been in place for weeks.

States too, including Massachusetts, have ridden the roller-coaster of emotions, with one much-debated model forecasting more than 8,200 deaths in the Bay State before it was sharply revised downward. State modeling recently projected up to 4,300 deaths.

In Rhode Island, Gov. Gina M. Raimondo on April 16 said projections range from a low of 2,100 deaths to a high of about 4,000 through October.

The state through April 22 had seen 181 deaths, meaning the coming months could see a horrifyingly long, slow rise in fatalities – or the projections are already outdated.

The governor can’t be blamed for sharing numbers she was asked repeatedly to make public. But with that genie now out of the bottle, she needs to keep the public updated on the changing numbers, despite concerns about people becoming less vigilant.

Not doing so risks allowing an agonizingly false perception to take hold of what’s to come. It could also make people less trusting next winter, when another wave of the virus could strike. n

POLL CENTRAL

New ways of working Is your company operating in new ways due the impact of the coronavirus?

What have you adopted that is an asset to your business? (Select any that apply)

Yes: 83%

We have found and employed new production tools: 43%

In what way has your company modified or transformed its operation? (Select any that apply)

We haven’t adopted any assets: 43% We have tapped into a new customer base: 29%

We have found new ways to use technology: We forged relationships with unlikely sources, such as competitors: 0% 57% We have reorganized our staff, operation, etc.: 29% We haven’t changed anything we do: 14% We are manufacturing other products: 0%

We have found new funding sources: 0%

Do you expect a significant portion of the changes you have made will be permanent?

Yes: 50% No: 25%

We have streamlined our infrastructure: 0%

Empty streets and boarded up businesses are common sights on Block Island during the cold winter months. That’s when the 1,000 year-round residents have the 10-square-mile island to themselves, following summer months that typically swell the population to more than 20,000.

But the island’s winter look has spilled into spring, with a local shelter-in-place order still in place as residents, like those on the mainland, try to ride out the COVID-19 ­pandemic.

While many locals last month remained hopeful of a return to near normalcy by June, the reality that it could take much longer and threaten the normally thriving summer tourism season is beginning to set in, as this week’s cover story reports.

Businesses that count on the summer season for their survival will do whatever is necessary to open, when allowed.

But when will it be safe to welcome thousands of tourists and vacationers – and will they still want to come if restrictions on crowd sizes remain in place?

All that seems certain right now is it’s shaping up to be a summer no one on the island is likely to forget. n

PBN.COM POLL

EXECUTIVE POLL

No: 17%

A summer to remember, or forget?

We haven’t modified our operation: 25%

How satisfied are you with the support you have seen for local businesses and workers from banks and the government? APRIL 10-16

Read even MORE business news on PBN.com

They have stepped up with as much financial support and guidance as possible in such a fast-moving crisis 30% Banks are doing what they can but the government needs to do more, faster 20% Government programs have been beefed up but some banks are not responding fast enough 20% Neither banks nor the government are doing as much as they should to give businesses confidence they can survive the crisis 30%

How should legislative leaders prioritize state spending for fiscal 2021, given the local toll of the COVID-19 pandemic?

THIS WEEK’S POLL:

• The governor has submitted her budget and lawmakers need to plan as usual for annual spending priorities • The toll on local businesses has been so devastating, the state budget needs to be refocused to help them first • Helping disadvantaged residents and the thousands of newly unemployed should be the focus of any major spending changes for the next fiscal year • Helping health care providers prepare for a possible second wave of the virus must be the priority for discretionary state spending • I don’t know

To vote, go to PBN.com and follow the link on the home page 28 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

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OPINION OPINION

Clinician burnout is a fixable condition

BRAD ARTERY GUEST COLUMN

In late 2019, the American Medical Association deemed clinician burnout an epidemic. That was before COVID-19. We certainly wouldn’t have chosen this pandemic to shine an even brighter light on clinician burnout, but it has. And once over the hump, organizations must think differently about how to invest in their clinicians.

While clinician burnout effects on the patient are worrisome, my bigger concern is the impact it’s having on my clinician friends and family members, and their peers.

I’m concerned about their work, life balance and their physical and mental health. Health care clinicians, unlike many other professionals who can move from field to field, devote their entire lives to the profession.

Currently, the profession is not giving back.

We must demand more as a society and industry to address clinician burnout. I propose starting with the following: n The lack of organizational commitment to the “quadruple aim.”

Focus on the triple aim is well known and established as the simultaneous pursuit of improving the patient experience, improving the health of populations and reducing health care costs. The recently added fourth component involves improving the work life of doctors, physician assistants, nurse practitioners and nurses.

Outside of health care, successful companies win by creating an exceptional customer experience. This must translate into the

health care industry in the form of patient experience. The deep expertise and personal service required in medicine necessitates that organizations focus resources – time and budget – on that customer experience delivery mechanism – the clinician. Too few organizations have prioritized the care and well-being of that most valuable asset. n Inexperienced leaders and managers are placed in impactful roles.

While time and efficiency parameters don’t trump patient care, operations and efficiency matter. Process, consistency and financial metrics matter. Clinicians are trained to focus on the patient and the nuances of each patient. The administration of large, complex organizations is better suited to experienced chief operating officers specifically trained to focus on efficiency, measured in throughput and expense.

The same argument exists elsewhere.

Clinicians are not properly trained in human resources, so why do they end up running that department? Equally, administrative assistants don’t necessarily make good officer managers. And so on. Too often, promotions in health care organizations are based on factors other than skill set. While the intention may be justified, the outcome is often poor. n “Health care professionals are highly compensated and privileged, so they can handle it!”

I’ve been surprised at how frequently this statement has been said by both clini-

Most clinicians want to make a positive difference in society.

cians and nonclinicians alike. It’s mentioned within two contexts. The first is the multiple and ever-growing list of administrative and tactical burdens placed on health care providers. The second is with regard to burnout.

Because physicians are accomplished and compensated well, it’s assumed unlimited requirements can be thrown at physicians.

Similarly, we reason away physician burnout with compensating, offsetting factors of high pay and perceived status.

As foolish as that reasoning may sound on its own, the disconnect is further exacerbated by the reasons why physicians do what they do. Most clinicians want to make a positive difference in society and are not driven by compensation.

Are health care professionals compensated well? Respectively, yes. Does that give us the latitude to throw complexities and burdens onto the profession and reason away physician burnout? Absolutely not.

We should instead respect and celebrate our health care providers and express compassion for this vital profession.

I strongly believe that health care organizations that prioritize the well-being of clinicians, hire experienced professionals in key leadership positions, and protect the health care provider profession rather than pile on will outperform others. They will do so primarily due to the positive impact of a highly engaged workforce and healthy culture disseminating from organization leadership. n Brad Artery is CEO and president of My MOC Inc., which created an online platform for health care professionals to monitor certification and educational requirements. He is married to an OB-GYN nurse practitioner.

After pandemic, replacing workers will be costly CHERYL CARLETON GUEST COLUMN

The labor market is changing rapidly with the onset of the coronavirus pandemic.

Many organizations have laid off or furloughed workers, or are considering it.

Alternatively, some are expanding their labor forces.

When the economy starts to open again, employers will need to consider rehiring or replacing workers, or hiring workers with different skills.

A sudden, massive loss of demand for their goods and services is forcing companies to make quick decisions, and some employers may underestimate the cost to replace good employees.

There are costs involved in losing a worker and replacing them, such as completing paperwork when they leave, advertising the open position, reviewing resumes, interviewing candidates and training the new worker.

Another cost is the loss in social capital.

Social capital is the relationships between individuals at work that take time to build and add to productivity.

The Society for Human Resource Management found that departures cost about onethird of a worker’s annual earnings.

The Center for American Progress drilled in deeper. They found the costs of replacing workers who earn less than $30,000 per year to be 16% of annual salary, or $3,200 for an

individual earning $20,000 per year.

For those earning $30,000 to $50,000 per year, it is estimated to cost about 20% of annual salary, or $8,000 for an individual earning $40,000. For highly educated executive positions, replacement costs are estimated to be 213% of annual salary – $213,000 for a CEO earning $100,000 per year.

For those workers where the costs to replace them are high, firms will try to accommodate them. Strategies may include maintaining pay, increasing benefits and retraining. These actions are also costly, so firms will weigh them against the cost of simply hiring new workers.

This means businesses face high costs to replace workers in the future, and high costs to retain current workers, leading to higher costs for their customers.

There are alternatives.

The high cost of replacing workers, along with the increased uncertainty about the economy may cause businesses to use more automation and robots. Though such switches may entail a significant upfront cost, once they are made the firms then have more control over their production processes.

Another alternative is to hire fewer permanent employees and turn instead to contract workers. With contract workers, employers are not responsible for benefits,

and they can more simply adjust the number of workers as needed.

While this may increase employment for some workers, it will decrease it for others, and it has serious implications for the availability of health and pension benefits, as well as unemployment benefits.

Businesses may also consider limiting the scope of what some workers to do limit the cost of replacing them. While this would reduce the impact of the individual leaving and lower the costs to train a replacement, it would mean fewer opportunities to gain experience and less bargaining power for workers.

The high cost of losing and then hiring new workers along with increased restrictions on hiring nonresidents might mean higher wages and increased benefits for some workers.

However, the high degree of uncertainty in the current labor market, along with the potential increase in contract workers and automation means that some workers will not realize these potential gains, and all of us as consumers will most likely end up paying higher prices for goods and services. n Cheryl Carleton is an assistant professor of economics at Villanova University.

Distributed by The Associated Press.

www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 29

ONE LAST THING Robert I. Burke Pot au Feu owner; Independence Trail creator Robert I. Burke has owned downtown Providence restaurant Pot au Feu since 1986. A history enthusiast, he created the city’s Independence Trail in 2007.

WE

donned masks, gloves, shoes and hair bonnets, safety glasses and a full-length moon suit taped at the wrist and ankles. We stepped into the intensive care unit fearing an unknown disease that was killing one of our servers.

That was not last week; it was more than 35 years ago – the disease was AIDS. Through five decades, we have been to the crisis rodeo: HIV, heroin, alcoholism, suicide, cocaine, crashes, Vietnam, burning to the ground in ’74, the Blizzard of ’78, bankruptcy court in ’83, a half dozen hurricanes, a couple of blackouts, one tornado, Y2K, 9/11, the crash of ’08, innumerable parking bans, disco and Yelp.

The secret?

‘There’s always a way!’

Rule 1. Never change anything: the French onion soup, pâté, bread, vinaigrette and most of the rest of the menu are the same as the 1970s.

Rule 2. Change everything: Buy 60,000 disposable gloves, take the blackboard off the wall it’s been on for five decades and write “Curbside Pickup” and hang it outside.

Buy thousands of bags and takeout containers before they are gone. Get masks – reusable ones that can be sanitized. Retrain your team.

Rewire the point-of-sale terminals, redo the website. Learn how to turn it off when ordering goes crazy. Oops. Learn Zoom. Schedule live jazz performances from Paris with curbside dinner pickup in Providence.

Transform your entire business literally overnight. Notes to self – breathe, think, have a glass of wine, eat a good meal, think some more, get some sleep, figure it out, be brave. Remember your motto Ω “There’s always a way!” n PBN PHOTO/RUPERT WHITELEY

30 | APRIL 24-30, 2020 | PROVIDENCE BUSINESS NEWS | www.pbn.com

PBN Virtual Summit April 30, 2020 | 9am Some of the topics to be addressed:

To help keep our community informed about best practices, PBN’s latest virtual summit will bring essential advice and insights on topics from marketing/advertising, IT, communications, finance and HR professionals, offering critical information to help businesses navigate the coming months.

• What does the future look like for companies moving forward?

• Communications: cloud computing, WFH best practices; internet/bandwidth; monitoring systems; privacy issues.

• IT: platform options, support systems available; security issues; privacy issues.

• Financial: maintaining cash flow; budgeting and payroll.

PANELISTS TO DATE:

• HR: Bringing employees back to work; considerations and plans should you have in place.

• Rick Norberg, CEO, Vertikal6

Register now for this free event at PBN.com

• Ross Nelson, VP, Northeast Region, Cox Business

partner sponsor

For sponsorship and advertising opportunities contact Advertising@PBN.com | 401.680.4800

www.pbn.com | PROVIDENCE BUSINESS NEWS | APRIL 24-30, 2020 | 31

20

20

BUSINESS

Career Achievement

AWARDS

PEG LANGHAMMER Executive Director Day One

Outstanding Mentor ANN KASHMANIAN CEO Brown Medicine

020 WINNERS

2 CONGRATULATIONS TO THE Industry Leaders

Women to Watch

FINANCIAL SERVICES

FINANCIAL SERVICES

ROGEAN MAKOWSKI Senior Vice President Webster Bank

AMY WALSH Senior Vice President Bank of America

HEALTHCARE SERVICES

HEALTHCARE SERVICES

SHANNON SULLIVAN VP Operations Care New England/Kent Hospital

DR. CAROLINE CHANG Owner Rhode Island Dermatology Institute

HOSPITALITY SERVICES

HOSPITALITY SERVICES

PROFESSIONAL SERVICES

PROFESSIONAL SERVICES

HEATHER SINGLETON Chief Operating Officer RI Hospitality Association

LISA MATTIELLO Owner & CEO Pranzi Inc.

TARA DEMOURA VP, Employer Business Segment Blue Cross & Blue Shield of RI

STACIE COLLIER Professional Personnel Partner Nixon Peabody LLC

SMALL BUSINESS

SMALL BUSINESS LYNNE DIAMANTE CEO OPTX Rhode Island

MICHELLE MURPHY Owner Roots Hair Salon

SOCIAL SERVICES/NONPROFIT

SOCIAL SERVICES/NONPROFIT

KELLY NEVINS Executive Director Women’s Fund of RI

TECHNICAL SERVICES

JOIN US

VIRTUAL EVENT

MARIA DIAZ-MASTERSON Engineer; Head, Submarine and Surveillance Systems Division Naval Undersea Warfare Center Division, Newport

JUNE 17 | NOON

KRISTIN URBACH Executive Director North Kingstown Chamber of Commerce

TECHNICAL SERVICES JESSICA SPIVEY Senior Superintendent Shawmut Design and Construction

Achievement Honorees Amy Antone | Cuddles of Hope Foundation, Geremie Callaghan | Fluke Newport, Stephanie Chamberlin | PINCH LLC Margaret Hartigan | Marstone Inc., Michele Kratz | Upward Health National LLC, Victoria Malchar | Malchar Wellness Center Mary T. O’Sullivan | Encore, Marcy Reyes | Blue Cross & Blue Shield of Rhode Island, The Financial Literacy Youth Initiative Amy Stratton | Monnan, Stratton & Waldman LLP, Leonora Valvo | Swoogo, Debbie A. Wood | Wood Boat and Motor Inc., Katie McDonald | bnourished LLC

“Behind every successful woman is herself.”

#

PBNBWA

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