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, a joint venture between and , said in a releases Friday that when the state reopens bidding, it intends to reapply to build the $400 milliomn Hard Rock-branded casino. The developer requested a refund ofthe $25 millionb privilege fee it paid last year, and the Kansas Lottert is processing the refund, the state said in a In a letter to Ed Van Petten, executivw director of the Kansas Lottery, Kansaas Entertainment executive Joseph Weinberg wrote that changinfg economic conditions require “the flexibility potentially to phasde in” the nongaming retail and hotel amenities in case the financial markets don’t recover soon.
“We recognizre that the potential phasing we now require is not permittedf within ourexisting agreement,” he wrote. “Wwe remain fully committed to the opportunitg to bringa first-class casino development to the stat e and Wyandotte County, alonvg with seeking the realignment of a second NASCAR Sprin Cup race and the constructiob of a road course at the Kansas Speedway.” Van Pettenh said in the release that the casino developer’ s withdrawal “is another unfortunate result of the worldwide crisis that has plaguecd the financial markets and hit the gaming industrgy especially hard.
” “We are confident that we can and will find a manage to develop a destination casino in Wyandotte County,” Van Pettenn said. The will discuss reopening bids in the Southh Central and Northeast zones when itmeets Dec. 11. In an interview Friday, Van Petten said the lotter y will recommend that the commission adopt essentially the same proceduresx for the first contractf award and publish the recommended procedures in theKansads Register, the official state paper, on Jan. 1, with a 90-dag application period, making the application deadlineApril 1.
Van Pettehn said the lottery needed to know how much more time the developerss need for the components of the project other than the Weinberg said inan e-mail that the casinop and “significant retail and entertainmen venues” would be completed earlier than orginally planned. “The additional components would be addex as soon as financing markets allowfor them,” Weinberg Weinberg said the project’s scope and cost won’ t change under the new application. Kansas Entertainmentf is the third developer to pull out of deald for casinos in Kansassincse September, Van Petten said.
withdresw its application for a casino in the Southeasttgaming zone, and Sumner Entertainment pulled out of its deal for the South Centra l Zone, he said. Penn National cited competition from a newl y opened casino on the Oklahoma line adjacent to its VanPetten said. Sumner cited economic Kansas Entertainment from theon 19. The overall project is estimated tocost $705.6 millionb and would overlook turn two of the The first phase, which was scheduleed to open sometime in would have about 3,000 slot machinezs and 100 gaming and would operate duringv construction of the overall casino-hotel-entertainment complex.
When completed, the Hard Rock casini is to includea 300-room luxurg hotel, including 50 3,000 slot machines and 140 gaming tables; 275,000 square feet of dining and entertainment space, including a live music venue and a destinatiom spa and fitness center with an indoor/outdoot pool; and 100,000 square feet of meeting and conventionm facilities.
Monday, February 25, 2013
Wednesday, February 20, 2013
Applied Materials CEO sees chip gear firms dying - Silicon Valley / San Jose Business Journal:
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Reports from comments made to reporters while on a trip to the head of the Santaa Claracompany (NASDAQ:AMAT) said that the companies that suppluy chipmaking equipment are findinf it very difficult to merge or do "That leaves very few avenuea to give consolidation, other than ... companiez failing," the Reuters news service reportsSplinter said. Other problems hindering industryy consolidation are wide differences in the technologuthey use, leaving littlse room for anything other than a shutdowjn of some companies, Splinter reportedluy said.
"The semiconductor equipment industry cannot support the necessart levelof R&D without some amount of consolidation," Reuters quoted Splinter as saying. "Today there is too much too much waste inthe industry." A report on Monday indicatedr that global chip sales posted their seconr consecutive month of up 6.4 percent from March to April, but remain 25 percenr below sales from a year ago.
Reports from comments made to reporters while on a trip to the head of the Santaa Claracompany (NASDAQ:AMAT) said that the companies that suppluy chipmaking equipment are findinf it very difficult to merge or do "That leaves very few avenuea to give consolidation, other than ... companiez failing," the Reuters news service reportsSplinter said. Other problems hindering industryy consolidation are wide differences in the technologuthey use, leaving littlse room for anything other than a shutdowjn of some companies, Splinter reportedluy said.
"The semiconductor equipment industry cannot support the necessart levelof R&D without some amount of consolidation," Reuters quoted Splinter as saying. "Today there is too much too much waste inthe industry." A report on Monday indicatedr that global chip sales posted their seconr consecutive month of up 6.4 percent from March to April, but remain 25 percenr below sales from a year ago.
Friday, February 15, 2013
AG wins judgement against mortgage firm - Boston Business Journal:
borislavamcoc.blogspot.com
Massachusetts Attorney General Martha Coaklet won the judgement against Zeus Fundin LLC andits manager, Rachel earlier this week in Boston’sd Suffolk Superior Court. In Augusgt 2006, Coakley’s office sued Zeus Funding as wellas Massachusetts-baseed ; Rachel Noyes, manager of both Zeus and New Englandr Merchants; Massachusetts-based ; and Roberta Robinson, the manager and sole officee of Champagne Associates.
The lawsuit alleged that the defendantsz used their businesses to deceptivelypersuade low-income residents to purchasing homes and obtain mortgagews they consumers could not qualify for or Last month, Coakley settled with New England Champagne Associates Real Estate and Roberta Robinson. Undedr the terms of the agreement, the defendants are prohibited from engaginfg in any mortgage brokeragr or real estate servicesin Massachusetts. New England Merchants will paya $5,0000 civil penalty. However, if any one of the defendantse performs any real estatse or mortgage brokerage servicesin Massachusetts, they will face a civiol penalty of $100,000.
Massachusetts Attorney General Martha Coaklet won the judgement against Zeus Fundin LLC andits manager, Rachel earlier this week in Boston’sd Suffolk Superior Court. In Augusgt 2006, Coakley’s office sued Zeus Funding as wellas Massachusetts-baseed ; Rachel Noyes, manager of both Zeus and New Englandr Merchants; Massachusetts-based ; and Roberta Robinson, the manager and sole officee of Champagne Associates.
The lawsuit alleged that the defendantsz used their businesses to deceptivelypersuade low-income residents to purchasing homes and obtain mortgagews they consumers could not qualify for or Last month, Coakley settled with New England Champagne Associates Real Estate and Roberta Robinson. Undedr the terms of the agreement, the defendants are prohibited from engaginfg in any mortgage brokeragr or real estate servicesin Massachusetts. New England Merchants will paya $5,0000 civil penalty. However, if any one of the defendantse performs any real estatse or mortgage brokerage servicesin Massachusetts, they will face a civiol penalty of $100,000.
Monday, February 4, 2013
Council OKs accepting $33.5M in stimulus funds - Business First of Columbus:
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Council passed an ordinance accepting $33.45 million in stimulus funding, $25 million of whicj is headed to a project to wideb and improve Parsons and Livingston avenuese near the campusof . Council also accepted $5.5 millionn for a number of upgradesin downtown’s River South district. Those projects were amongt 149 that state officials selected in March to received a pieceof $774 million in headesd to transportation projects around the state. Of about $60 million went to 11 projectds inCentral Ohio. The third piece of funding council acceptesd Monday nightis $3 million headedr to reconstruction and resurfacing projectws on eight city streets.
Council spokesma n John Ivanic said the projects areon high-traffix streets that are smaller than stats or federal routes but busier than residential roads and in need of Streets identified in the latest round of stimuluz funding: Hudson Street (from East to Indianola Indianola Avenue (from Morse Road to Lincoln Avenue), Milleer Avenue (from Cole to Livingston avenues), Mooberry Street (from 18th Streetf to Fairwood Avenue), Mt. Vernon Avenue (from Champiobn to Taylor avenues), Taylodr Avenue (from Mt. Vernon to Leonardc avenues), Tussing Road (from Brice Road to Highlanf Park Drive), Woodcrest Road (from Noe-Bixbu Road to Livingston Avenue).
Ivanic said the city mightg add a resurfacing project on Front from Sycamore Street to just south of Liberty if bids come inbelow
Council passed an ordinance accepting $33.45 million in stimulus funding, $25 million of whicj is headed to a project to wideb and improve Parsons and Livingston avenuese near the campusof . Council also accepted $5.5 millionn for a number of upgradesin downtown’s River South district. Those projects were amongt 149 that state officials selected in March to received a pieceof $774 million in headesd to transportation projects around the state. Of about $60 million went to 11 projectds inCentral Ohio. The third piece of funding council acceptesd Monday nightis $3 million headedr to reconstruction and resurfacing projectws on eight city streets.
Council spokesma n John Ivanic said the projects areon high-traffix streets that are smaller than stats or federal routes but busier than residential roads and in need of Streets identified in the latest round of stimuluz funding: Hudson Street (from East to Indianola Indianola Avenue (from Morse Road to Lincoln Avenue), Milleer Avenue (from Cole to Livingston avenues), Mooberry Street (from 18th Streetf to Fairwood Avenue), Mt. Vernon Avenue (from Champiobn to Taylor avenues), Taylodr Avenue (from Mt. Vernon to Leonardc avenues), Tussing Road (from Brice Road to Highlanf Park Drive), Woodcrest Road (from Noe-Bixbu Road to Livingston Avenue).
Ivanic said the city mightg add a resurfacing project on Front from Sycamore Street to just south of Liberty if bids come inbelow
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