Slater Fund streamlining operations, cutting 2 positions.

Providence Journal (Providence, RI) | February 5, 2005 | Copyright

Byline: Timothy C. Barmann

Feb. 5--The Samuel Slater Technology Fund, a state-financed program that invests in promising new businesses, plans a major restructuring that will eliminate two posts, including that of the organization's top managing director.

The Slater Board Inc. yesterday unanimously approved the changes, which will trim operating expenses by $400,000 to $500,000 a year. That will free up more money to invest in companies, said Michael McMahon, executive director of the Rhode Island Economic Development Corporation. The EDC administers the ...

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