Showboat Atlantic City officially closes
The first domino has fallen: Showboat casino in Atlantic City has closed. It will soon be followed by the Revel Casino Hotel (Sept. 2) and the Trump Plaza (Sept. 16.)
The Showboat closed officially at 4 p.m. The Associated Press published a portion of a letter from Caesars Entertainment CEO Gary Loveman to employees:
"The Showboat has been in business in Atlantic City for 27 years, and all of us at Caesars are extremely proud of the 16 years that our company operated the property. I want to thank… Read More
Apple woos major credit cards for mobile wallet
Apple has reached deals with major credit card companies to partner on a mobile wallet initiative, according to multiple reports. Re/code said American Express (NYSE: AXP) is on-board, and Bloomberg reported that Visa (NYSE: V) and MasterCard (NYSE: MA) have joined.
The system will allow iPhone 6 owners to use their devices to pay for items at certain retailers. Google (NASDAQ: GOOG) has long had its own Google Wallet feature, but it's failed to gain much traction outside of a few select pockets.… Read More
Orbitz reaches agreement with American, US Airways
American Airlines and US Airways fares are back on Orbitz websites, the online travel agent said.
Orbitz Worldwide (NYSE: OWW) reached agreement with American, settling a dispute that forced the airlines to pull their flights off all Orbitz sites last week.
"We are pleased that our long-standing relationship with American Airlines allowed us to quickly resolve business matters and that we continue to offer a broad range of options, including American Airlines and US Airways flights, to the millions… Read More
Land sale sets stage for 'net-zero' apartments
The owner of several apartment buildings in Rotterdam, New York paid $2.1 million for property in the town where he wants to build a 156-unit "net-zero" apartment complex.
David Bruns of Bruns Realty LLC bought the property on Burdeck Street from Mid America Student Housing, according to commercial broker Kevin Phillips of NAI Platform.
The property, located at 984-1000 Burdeck St., includes about 17 acres of developable land and a 24-unit apartment complex.
Bruns is seeking permission from town… Read More
Questar III BOCES extends partnerships with Excelsior College
Questar III BOCES will launch two online learning programs with Excelsior College this fall, a course for teachers on Common Core math and credit-by-examination program for students.
Questar and Excelsior College, an online college headquartered in Albany, New York, have developed three courses on the Common Core math standards. The courses are geared toward teachers across the state.
By partnering with Excelsior College, Questar plans to remain positions the school to remain a leader, says Gladys… Read More
Big plans for Times Union Center draw little interest from architects
Just two architecture and engineering firms submitted proposals to design a $10 million to $12 million renovation of the exterior of the Times Union Center in downtown Albany, New York.
CSArch in Albany and Synthesis in Schenectady were the only firms to meet the Aug. 29 submission deadline set by Albany County, which owns the 17,500-seat arena on South Pearl Street.
Receiving two proposals is somewhat surprising considering the high-profile nature of the project and the initial indications about… Read More
Why Air Liquide sold its Plug Power shares
Air Liquide reduced its stake in Latham, New York fuel cell manufacturer Plug Power to free-up money for future investments in innovative technologies.
The french oil and gas supplier sold nearly 5.5 million of its Plug Power shares this week through ALIAD, its venture capital investment subsidiary. More on that here:
ALIAD's role is to take minority stakes in innovative technology start-ups to promote access to developing innovations.
Air Liquide has been involved in a joint venture targeting… Read More
Zale acquisition could reap up to $175M in cost savings
The acquisition of Irving-based Zale Corp. in May helped boost Signet Jewelers to a 39 percent increase in second quarter sales, Signet said Thursday in a release.
Signet also owns Jared and Kay Jewelers.
The Bermuda-based jewelry company said it expects to reap even bigger cost savings from the acquisition of Zale in the next three years than it thought. It had estmiated the savings at $100 million, but now estimates the savings could be $150 million to $175 million.
Signet said that earnings… Read More
Google unveils drone-delivery program, Project Wing
Google has unveiled some details about its drone-delivery program, including a video showing a prototype in action, making a test delivery in Australia.
The program, called Project Wing, has been nurtured over the past two years within Google X, the tech giant's research lab, according to a report by The Atlantic. Google (NASDAQ: GOOG) engineers have developed a drone that can fly to a location, lower a payload via a long wire, release that payload, and then fly away.
There are still kinks left… Read More
Meet the Class of 2014 CFO of the Year winners
Chief financial officers play a critical, but unheralded, role of shaping companies and positioning them to grow.
This year's class of Albany Business Review CFOs of the Year spans a wide range of industries from manufacturing to nonprofits.
The honorees are: Brandee Armer, controller of Bonacio Construction in Saratoga Springs; Eric Burton, CFO of Hometown Health Centers in Schenectady; Jack Haren, CFO of Mohawk in Cohoes; Todd Krolak, CFO of New Horizons of Albany; Virginia Marinello, director… Read More