JERICHO, N.Y. (AP) -- Fast-food chain Nathan's Famous Inc. said Monday that it could owe $2.9 million to $6.1 million in a legal dispute with a licensee and it expects to record a charge of $2.9 million for its second quarter, which ended Sept. 26.
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Monday, October 18, 2010
Marriott, Hilton seek permission to hire more legal immigrants
As the economy rebounds and hotel giants expect to hire more employees, Marriott and Hilton Worldwide are among the large companies seeking to boost the number of legal immigrant workers they're allowed to hire, according to a Bloomberg News piece that also looks at campaign contribution patterns.
The hotel companies want increases in worker visas and more employment-based "green cards" - proof of permanent residency in the U.S. that can allow for a lifetime career, the story says.
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The hotel companies want increases in worker visas and more employment-based "green cards" - proof of permanent residency in the U.S. that can allow for a lifetime career, the story says.
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Kerzner rumours still swirl
Despite Kerzner International's adamant denial last week that the Atlantis and One & Only Ocean Club Owner is not for sale, rumours and speculation continue to swirl, with claims being made to this newspaper that other suitors are also interested.
Apart from BMB Group, a firm with connections to the Brunei Royal Family, making an unsolicited $3.4 billion all-cash bid that was rejected, one message sent to Tribune Business last night suggested that other parties potentially interested in Kerzner International included the Qatar Investment Authority, billionaire Las Vegas developer Steve Wynn and China Investment Corp, another Chinese government-owned entity.
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Apart from BMB Group, a firm with connections to the Brunei Royal Family, making an unsolicited $3.4 billion all-cash bid that was rejected, one message sent to Tribune Business last night suggested that other parties potentially interested in Kerzner International included the Qatar Investment Authority, billionaire Las Vegas developer Steve Wynn and China Investment Corp, another Chinese government-owned entity.
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Harrah's files with SEC for initial public offering
Harrah's Entertainment said this morning it is planning an initial public offering in order to raise at least $500 million for several development projects, including the completion of a hotel tower at Caesars Palace.
In documents filed with U.S. Securities and Exchange Commission, Harrah's said it would sell an unspecified amount of shares "to fund a near-term pipeline of growth projects and for general corporate purposes."
In documents filed with U.S. Securities and Exchange Commission, Harrah's said it would sell an unspecified amount of shares "to fund a near-term pipeline of growth projects and for general corporate purposes."
The Las Vegas-based company said the money would be used to build LINQ, a retail, dining and entertainment area between the Imperial Palace and the Flamingo, and complete the Octavius tower at Caesars Palace, which has 660 hotel rooms. Harrah's said completion of the Caesars tower will cost $85 million.
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Washington St. Regis foreclosed on
Barclays Capital has foreclosed on the owners of the St. Regis hotel and plans to auction it off Oct. 22, adding the iconic property to a heap of those purchased in Washington with heavy borrowing during the real estate bubble and that are therefore in danger of being lost by their owners.
Adorned with Italian Renaissance Louis XVI chandeliers and located two blocks from the White House on 16th Street Northwest, the 150-room, 25-suite St. Regis Washington is routinely ranked as one of the most luxurious hotels the region, its reputation further burnished after undergoing two major renovations in the past 23 years.
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