Watching the movie "The Big Short" last weekend I had a vague sense of d�j� vu and thought to myself "Hey, I've seen this movie before." In my case, the movie's title was "The Collapse of RISDIC." It happened 25 years ago this month when the Rhode Island Share and Deposit Indemnity Corporation ("RISDIC"), a Rhode Island-based deposit-insurer (similar - in theory - to the FDIC), collapsed during the recession of the early Nineties. In response, during his first hours in office, Gov. Bruce Sundlun was forced to close 45 local banks and credit unions in order to protect the depositors' money, and their safety. The event was a front page story in the next day's New York Times.The window into human nature that created the painful debacle featured many of the same behaviors that led to the global economic collapse of 2008, and after. Here's my account of RISDIC's last days, taken from a piece I wrote for Rhode Island Monthly several years ago.The lesson in both cases? Pay attention to what's happening to your money. Best, 
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Can You Believe That Poll?
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HHCRI CEO Diana Franchitto on Executive Suite with Ted Nesi
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Our client Home & Hospice Care of Rhode Island (HHCRI), the second oldest hospice provider in the country, recently announced an affiliation with Massachusetts-based HopeHealth. Here are links to coverage of the announcement in the Boston Globe and the Providence Business News. Long time HHCRI CEO Diana Franchitto became CEO of the combined entity in January. Recently, Diana was a guest on Executive Suite, hosted by WPRI's Ted Nesi, to talk about the affiliation, and how it will help the new, larger care provider navigate the many changes now occurring in health care. You can watch Diana's interview here. |
 When an 81-year old woman lost her house because she failed to pay a $548 water bill, Rhode Island Housing took on the administration of a program designed to prevent that type of thing in the future. Since it began in 2007, the Madeline Walker program has allowed thousands of homeowners to avoid foreclosure and stay in their homes.
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New England is at the tail-end of the nation's natural gas supply, and the resulting high cost of energy has a negative effect on the region's economy. Our client, Spectra Energy, is one of the country's leading natural gas pipeline companies. They are now engaged in a series of projects that will provide a more secure natural gas supply in the region, benefitting the local economy and the people who live here.
A few weeks ago, Spectra executive Richard Paglia was interviewed on Executive Suite about the company's plans to expand the supply of energy in Southern New England.
The interview begins here at the 13:55 mark.
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Tony Botelho, President and CEO of Freedom National Bank
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It's a political year and polls, some (many?) of dubious quality, have been flying around for months and been reported on in the media. But what do they really mean? (It depends.) And is what they are saying really accurate? (Maybe...or maybe not.) 
