Tuesday, June 22, 2010
Goldman Request to Foreclose on Sawgrass Resort Denied by Judge
June 21 (Bloomberg) -- Goldman Sachs Mortgage Co., the lender to the owners of Florida’s Sawgrass Marriott Resort, failed to win bankruptcy court permission to take over and sell the company’s assets.
Judge Paul M. Glenn in Jacksonville, Florida, denied Goldman’s request to lift the automatic stay, a part of the bankruptcy code that shields a company from creditors’ efforts to collect on its assets. Goldman Sachs Mortgage is a division of Goldman Sachs Group Inc
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Judge Paul M. Glenn in Jacksonville, Florida, denied Goldman’s request to lift the automatic stay, a part of the bankruptcy code that shields a company from creditors’ efforts to collect on its assets. Goldman Sachs Mortgage is a division of Goldman Sachs Group Inc
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Fertitta sweetens Landry's offer again
Landry's Restaurants Inc. CEO Tilman Fertitta has raised his offer in a successful bid to gain an activist investor’s approval for the executive's acquisition of the company, Landry’s said Tuesday.
Fertitta upped his bid for the Houston-based restaurant chain by 50 cents to $24.50 a share.
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Fertitta upped his bid for the Houston-based restaurant chain by 50 cents to $24.50 a share.
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Chipotle: Too Caliente For Investors
Chipotle Mexican Grill (CMG) has been on fire as the "quick-casual" burrito joint continues to grow returning over 200% for investors since going public in 2006. The company now employs over 22,000 people to deliver "food with integrity" using all natural ingredients. From 1998 to 2006, McDonald's Corporation owned a majority interest in Chipotle but divested their interest in 2006
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Judge gives early OK to Lake Las Vegas bankruptcy plan
A judge verbally approved Lake Las Vegas’ plan to emerge from Chapter 11 bankruptcy at a hearing Monday, the development’s parent company said today.
Sandra Sternberg, a spokeswoman for the Atalon Group, said the company expects to have written approval for the plan from Judge Linda Riegle by Friday. Sternberg said the development won’t emerge from bankruptcy for a few weeks, but Lake Las Vegas on Monday overcame a big hurdle in the process.
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Sandra Sternberg, a spokeswoman for the Atalon Group, said the company expects to have written approval for the plan from Judge Linda Riegle by Friday. Sternberg said the development won’t emerge from bankruptcy for a few weeks, but Lake Las Vegas on Monday overcame a big hurdle in the process.
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$1.2 billion in Fontainebleau construction permits pulled
Some $1.2 billion in construction permits were pulled for the idled Fontainebleau casino resort on the Las Vegas Strip this month — but no one is saying if that means construction will actually resume anytime soon.
Clark County Development Services, the county office that tracks the issuance of building permits, reported last week that a company that acquired the Fontainebleau property on the Strip pulled 47 permits for projects at the development’s 2777 Las Vegas Blvd. South address.
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Clark County Development Services, the county office that tracks the issuance of building permits, reported last week that a company that acquired the Fontainebleau property on the Strip pulled 47 permits for projects at the development’s 2777 Las Vegas Blvd. South address.
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Tavern on the Green Could Become a Site for Street Vendors
UPPER WEST SIDE — The future of famed Central Park eatery Tavern on the Green could include up to four hot dog carts and a bike rental business.
As the city continues its search for someone to open a new restaurant on the famous site, the former Tavern space will become a visitor center with plans by the city to solicit bids for up to four "specialty carts" to do business there for up to a year.
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As the city continues its search for someone to open a new restaurant on the famous site, the former Tavern space will become a visitor center with plans by the city to solicit bids for up to four "specialty carts" to do business there for up to a year.
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Foreclosure suit hits suburban Chicago Westin hotel
Crain’s) — The lender group on the Westin Chicago North Shore has filed to foreclose on the 412-room hotel in northwest suburban Wheeling, five months after the owner stopped making loan payments.
The Westin is straining under an $86-million loan taken out three years ago, when the hotel market was booming and lenders were still shoveling money out the door. But local occupancies and room rates have tumbled since then, and bad loans keep piling up.
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The Westin is straining under an $86-million loan taken out three years ago, when the hotel market was booming and lenders were still shoveling money out the door. But local occupancies and room rates have tumbled since then, and bad loans keep piling up.
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US steakhouse chain The Palm plans new London and European sites
US steakhouse and grill chain The Palm is to open two more sites in London in 2011, amid further plans for European expansion.
The company, one of America's oldest privately owned restaurant chains, will open an outpost at Heathrow Airport with another restaurant planned for the West End, following its debut in the UK last year. It also has restaurants in Vienna, Austria, and Frankfurt, Germany, in the pipeline.
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The company, one of America's oldest privately owned restaurant chains, will open an outpost at Heathrow Airport with another restaurant planned for the West End, following its debut in the UK last year. It also has restaurants in Vienna, Austria, and Frankfurt, Germany, in the pipeline.
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Budget hotels and coffee chain boost Whitbread sales
Alan Parker, the outgoing chief executive of Whitbread, today told shareholders the group's focus on budget hotels and "affordable treats" at high street coffee shops was continuing to power industry-beating sales performance.
After six years at the helm of the company behind Premier Inn and Costa Coffee, Parker is departing on a high, telling shareholders gathered at the QEII Conference Centre in Westminster that sales were continuing to rebound ahead of peers.
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After six years at the helm of the company behind Premier Inn and Costa Coffee, Parker is departing on a high, telling shareholders gathered at the QEII Conference Centre in Westminster that sales were continuing to rebound ahead of peers.
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India Court asks Hilton to drop brand name
Conrad Hilton may have set up the first Hilton Hotel in 1925, but a Rajasthan court has barred the US hotel group with business in 80 countries from operating in India under that brand, holding that it was deceptively similar to Sirohi-based Hilltone Hotel.
Additional District Judge Narinder Singh Dadda, Sirohi, restrained the international hospitality group from using any kind of "misleading logo and mark" which has potential to cause confusion among the general public and directed it not to carry on the business of hotel and food items under "such duplicate trademark".
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Additional District Judge Narinder Singh Dadda, Sirohi, restrained the international hospitality group from using any kind of "misleading logo and mark" which has potential to cause confusion among the general public and directed it not to carry on the business of hotel and food items under "such duplicate trademark".
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