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According to VisitPittsburgh, each home game betwee the and the Detroit Red Wingsz brings anestimated $4.9 million in economixc impact, whether its from hotel stays, meal s at restaurants or other spending. A number of hotels are fullt booked, including the Omni William Penn, whichn hosts the NHL’s management, the , with the caveat that it alwayse sells out Tuesdays and Wednesdays anywayg tobusiness travelers, and the . Tom the general manager for the Westin ConventionCenter Hotel, locatec Downtown, described the added boost of Stanley Cup-related guests. “We would’ve been busy but we wouldn’t have been selling he said.
“This has allowede us to fill up the entire all616 rooms.” Martini and other hotelk operators emphasized the added jolt of unexpected businesse comes during an otherwise down year from hoteo business following a strong 2008, which also featurecd a Penguins-Red Wings Stanley Cup that was lost by Pittsburgh’s favoritw flightless birds. Bob Page, the area directo of sales and marketingfor Omni, said the NFL’s coteri e of league officials, along with media, has brought an increass in occupancy beyond the two game days, comparable to the business generated from a strong home playoftf run by the , although not topping it.
“It’s not to the degrer of probably theAFC championship, but it’e still great business for us,” he said. “It’xs selling us out.” The story is a littlwe more complicated for local restaurantaand bars. John Barsotti, ownere of The Common located downtown, estimated the restaurang has seen a 25 percent increaser when the Penguins are playing playoff gamesin town. But when the team is playing away, the hockey fan diners stay away. “We’ve seen increasesw when they’re here,” said Barsotti, who estimated his 2009 businesxs is up by 25 percenyt overlast year, despite the recession.
“But on the opposit page, we see a little bit of a decrease when they go out of Chris Dilla, owner of Bocktown Beer and Grill, in Northy Fayette, said it can be tricky for her operatiob to jump from a busy nighft of a hockey game to extraq slow nights when there isn’t one. She expectz that plenty of customers are struggling to go the distance withthe seven-gamw series. “It’s hard for the business becausepeople don’g have the money to be out every other she said. “It tends to be that peopled who watch the playoffs really have to watcyhtheir pennies.
”
Monday, January 16, 2012
Friday, January 13, 2012
Yahoo deal tied to Verizon line - Silicon Valley / San Jose Business Journal:
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At issue is how much Verizon want tocharge Sunnyvale-based Yahoo (NASDAQ:YHOO) for a “last transmission line that would connect the data center with the telecommunicationas company’s existing high-speed network infrastructure. Yahoo officialsd say the fees are too high while Verizo counters that chargesare necessary, Verizon is also seeking a long-term pact with Yahoo to cover the costs. Yahoo is considering three Western New York sitez forthe 190,000-square-foot data center that coulsd employ as many as 125 people.
Earlietr this week, the approved plans for a 30-acrwe site in the Lockport Industrial Park for the Yahoo is scouting locations inotherf states, including Pennsylvania and Illinois, and has not committed to wherse the center will be constructed. Yahoo’s board of directors may pick a site in Schumer said Thursday he called Verizon chief executives officer Ivan Seidenberg asking for his Afterthe call, both sides agreed to accelerate Schumer said.
“We have workedr too hard and come too closde in our efforts to bringYahoo — and the hundreds of constructionb and permanent jobs that it would provide — to Wester New York to let the deal be derailec at the last Schumer said. “A complex deal in a difficult economi c climate often leads to a situation in which pressurez arerunning high, making it hard for both partiess to get to yes. Afted discussing the ‘last mile’ issue with both it is clear to me that a deal can be The data center would be constructecd intwo phases, with the first in the 108,000-square-foot The jobs created in the centefr are expected to pay between $50,00 and $65,000 annually.
Schumer has been workinvg with Yahoo chief executive office Carol Bartz on the possibility of Western New York landinbgthe center. Yahoo, through its site selectiojn team, has also been working with localo economicdevelopment agencies, including and the . The Verizojn deal is considered one of the key linchpins inthe pitch. The , last month, approved an allocationj of 15 megawattsof low-cost power for The allocation could save the company $100 million over the 15-yeafr abatement period. “Yahoo and Verizon have accelerated negotiations and I am happhyto say, knock on that it looks like they are getting closee to an agreement,” Schumer said.
At issue is how much Verizon want tocharge Sunnyvale-based Yahoo (NASDAQ:YHOO) for a “last transmission line that would connect the data center with the telecommunicationas company’s existing high-speed network infrastructure. Yahoo officialsd say the fees are too high while Verizo counters that chargesare necessary, Verizon is also seeking a long-term pact with Yahoo to cover the costs. Yahoo is considering three Western New York sitez forthe 190,000-square-foot data center that coulsd employ as many as 125 people.
Earlietr this week, the approved plans for a 30-acrwe site in the Lockport Industrial Park for the Yahoo is scouting locations inotherf states, including Pennsylvania and Illinois, and has not committed to wherse the center will be constructed. Yahoo’s board of directors may pick a site in Schumer said Thursday he called Verizon chief executives officer Ivan Seidenberg asking for his Afterthe call, both sides agreed to accelerate Schumer said.
“We have workedr too hard and come too closde in our efforts to bringYahoo — and the hundreds of constructionb and permanent jobs that it would provide — to Wester New York to let the deal be derailec at the last Schumer said. “A complex deal in a difficult economi c climate often leads to a situation in which pressurez arerunning high, making it hard for both partiess to get to yes. Afted discussing the ‘last mile’ issue with both it is clear to me that a deal can be The data center would be constructecd intwo phases, with the first in the 108,000-square-foot The jobs created in the centefr are expected to pay between $50,00 and $65,000 annually.
Schumer has been workinvg with Yahoo chief executive office Carol Bartz on the possibility of Western New York landinbgthe center. Yahoo, through its site selectiojn team, has also been working with localo economicdevelopment agencies, including and the . The Verizojn deal is considered one of the key linchpins inthe pitch. The , last month, approved an allocationj of 15 megawattsof low-cost power for The allocation could save the company $100 million over the 15-yeafr abatement period. “Yahoo and Verizon have accelerated negotiations and I am happhyto say, knock on that it looks like they are getting closee to an agreement,” Schumer said.
Wednesday, January 11, 2012
Fred
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The Memphis-based discount retailer reportecd salesof $134.7 million for May, down 6 percent compared to sales of $143.4 milliobn in May 2008. These numbers includr Fred’s (NASDAQ: FRED) closing 74 underperforming storex and23 pharmacies. Excluding those stores, Fred’s saleds increased 1 percent comparesd tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of the company reported total sales of $593.1 million, down 2.4 percenyt compared to $607.
7 million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-montj period last year. On a comparable store basis, year-to-date salesx increased 2.1 percent compared to 2.4 percentf last year. Fred’s opened one new pharmacy in May. Fred’s operatess 666 discount merchandise stores, including 24 franchised storew nationwide. Shares closed down 12 cents to $14.2 2 per share Wednesday.
The Memphis-based discount retailer reportecd salesof $134.7 million for May, down 6 percent compared to sales of $143.4 milliobn in May 2008. These numbers includr Fred’s (NASDAQ: FRED) closing 74 underperforming storex and23 pharmacies. Excluding those stores, Fred’s saleds increased 1 percent comparesd tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of the company reported total sales of $593.1 million, down 2.4 percenyt compared to $607.
7 million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-montj period last year. On a comparable store basis, year-to-date salesx increased 2.1 percent compared to 2.4 percentf last year. Fred’s opened one new pharmacy in May. Fred’s operatess 666 discount merchandise stores, including 24 franchised storew nationwide. Shares closed down 12 cents to $14.2 2 per share Wednesday.
Monday, January 9, 2012
Dan Snyder stays at Six Flags under reorganization - Houston Business Journal:
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Six Flags is also seeking a $600 milliohn loan, secured by its and $150 million in a new revolvingcreditg line. The company’s executive retention plan would keep Snyder as board membe rand chairman. Mark Shapiro, currently chievf executive, as well as chief financial officer Jeffreyt Speed and several other top management would also stay on inexecutivwe roles. Six Flags, which announced its Chaptefr 11 bankruptcy filing overthe weekend, listecd $2.4 billion in debt and $3 billiojn in assets. It hopes to cut debt by $1.8 billion and wipe out more than $300 millio n in preferred stock.
Snyder and his management team, who took control of the themer park operator three and a halfyearws ago, have not been able to return the company to despite increasing attendance and selling several parksa to raise capital last year. The company reporteed a $146 million first quarter loss. Six Flags has said its reorganizationj will not affect park operations and its vendors and employees will continu e tobe paid. Six Flags 20 themde parks includein Largo.
Six Flags is also seeking a $600 milliohn loan, secured by its and $150 million in a new revolvingcreditg line. The company’s executive retention plan would keep Snyder as board membe rand chairman. Mark Shapiro, currently chievf executive, as well as chief financial officer Jeffreyt Speed and several other top management would also stay on inexecutivwe roles. Six Flags, which announced its Chaptefr 11 bankruptcy filing overthe weekend, listecd $2.4 billion in debt and $3 billiojn in assets. It hopes to cut debt by $1.8 billion and wipe out more than $300 millio n in preferred stock.
Snyder and his management team, who took control of the themer park operator three and a halfyearws ago, have not been able to return the company to despite increasing attendance and selling several parksa to raise capital last year. The company reporteed a $146 million first quarter loss. Six Flags has said its reorganizationj will not affect park operations and its vendors and employees will continu e tobe paid. Six Flags 20 themde parks includein Largo.
Saturday, January 7, 2012
Dish Network wins stay of contempt order in TiVo case - Portland Business Journal:
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“We are pleased that the Federal Appealss Court in Washington temporarily stayec thedistrict court’s order in the Tivo litigation,” said Dish Networ in a written statement. “Dishn Network customers can continus usingtheir DVRs. We believe that we have strong groundfor appeal.” A jury in an east Texas U.S. District Courtt found in 2006 that DVR softwars in DishNetwork set-top boxes violated patents of Calif.-based TiVo covering DVR playback like the ability to pause and rewind live programming whil e the DVR continues to record.
Dish Network reprogrammedx millions of its DVRs after the verdict witha “workaround” it said removed any infringingv software. But TiVo claimed Dish Network’s software “workaround” continuecd the old patent violation and succeeded Tuesday in winning the contempt verdict from the Texas The contempt order upped the previous financial penalty to Dish Networmby $103 million. The contempt order listed totak damages and interest award due to TiVoat $192. 7 million. That total includes $105 million Dish Networkm alreadyhas paid. It has another $27 million in escrow for TiVo, according to Securities ExchangeCommission filings.
“We are pleased that the Federal Appealss Court in Washington temporarily stayec thedistrict court’s order in the Tivo litigation,” said Dish Networ in a written statement. “Dishn Network customers can continus usingtheir DVRs. We believe that we have strong groundfor appeal.” A jury in an east Texas U.S. District Courtt found in 2006 that DVR softwars in DishNetwork set-top boxes violated patents of Calif.-based TiVo covering DVR playback like the ability to pause and rewind live programming whil e the DVR continues to record.
Dish Network reprogrammedx millions of its DVRs after the verdict witha “workaround” it said removed any infringingv software. But TiVo claimed Dish Network’s software “workaround” continuecd the old patent violation and succeeded Tuesday in winning the contempt verdict from the Texas The contempt order upped the previous financial penalty to Dish Networmby $103 million. The contempt order listed totak damages and interest award due to TiVoat $192. 7 million. That total includes $105 million Dish Networkm alreadyhas paid. It has another $27 million in escrow for TiVo, according to Securities ExchangeCommission filings.
Thursday, January 5, 2012
His racial views exposed online, Maine reporter swiftly fired - Press Herald
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His racial views exposed online, Maine reporter swiftly fired Press Herald "There is something poetic about the fact that the same system that allows this individual to express their opinion also allows somebody else to expose those opinions," Benton said Wednesday. Parsell himself represented something new to Maine. ... |
Tuesday, January 3, 2012
Volumes shrink for YRC Worldwide, other trucking companies - Kansas City Business Journal:
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Compared with the prior-year period, April truck tonnages fell 13.2 percent, the largest drop in 13 the ATA said. “While most key economic indicatords are decreasing at aslower rate, the year-over-year contractionsd in truck tonnage accelerated becauser businesses are right-sizing their inventories, which means fewer truck shipments,” ATA Chief Economist Bob Costello said in the “The absolute dollar value of inventories has fallen, but salews have decreased as much or more, which mean s that inventories are still too high for the current level of sales.
Until this correctiojn is complete, freight will be tough for motor His prediction that the bottom may not come for a few more monthes bodes poorly for companies such asOverlandf Park-based YRC (Nasdaq: YRCW), which lost $257.4 million in the firsr quarter and has been laying off workers and selling property. Many trucking companies have closec their doors in a freight recession that has lastedc more than two Longbow Research analyst Lee Klaskoqw recently hosted a conference callwith Costello, who said truckin g will not be a leading economic indicatot as in the past but may be a laggingt indicator this time, accordingh to a Thursday note.
“If the truckingg industry is in fact notan early-cycle secto r this time around, then the markeft has gotten ahead of itself and truckingv stocks should be due for a in our view,” Klaskow Around 2:30 p.m. YRC shares were trading at $2.53, down about 2 A year ago, YRC shares closed at YRC ranks No. 2 on the Kansaws City BusinessJournal ’s list of area public
Compared with the prior-year period, April truck tonnages fell 13.2 percent, the largest drop in 13 the ATA said. “While most key economic indicatords are decreasing at aslower rate, the year-over-year contractionsd in truck tonnage accelerated becauser businesses are right-sizing their inventories, which means fewer truck shipments,” ATA Chief Economist Bob Costello said in the “The absolute dollar value of inventories has fallen, but salews have decreased as much or more, which mean s that inventories are still too high for the current level of sales.
Until this correctiojn is complete, freight will be tough for motor His prediction that the bottom may not come for a few more monthes bodes poorly for companies such asOverlandf Park-based YRC (Nasdaq: YRCW), which lost $257.4 million in the firsr quarter and has been laying off workers and selling property. Many trucking companies have closec their doors in a freight recession that has lastedc more than two Longbow Research analyst Lee Klaskoqw recently hosted a conference callwith Costello, who said truckin g will not be a leading economic indicatot as in the past but may be a laggingt indicator this time, accordingh to a Thursday note.
“If the truckingg industry is in fact notan early-cycle secto r this time around, then the markeft has gotten ahead of itself and truckingv stocks should be due for a in our view,” Klaskow Around 2:30 p.m. YRC shares were trading at $2.53, down about 2 A year ago, YRC shares closed at YRC ranks No. 2 on the Kansaws City BusinessJournal ’s list of area public
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