Tag Archives: approximately

Icahn'' s company strikes approximately $1.85 B Tropicana deal

Image

Henny Ray Abrams/ AP In this March 16, 2010, file picture, investor Carl Icahn poses for photos upon arriving for the annual New York City Authorities Foundation Gala in New York.

Monday, April 16, 2018|7:06 a.m.

ATLANTIC CITY, N.J.– Carl Icahn’s company has struck an approximately $1.85 billion offer that would fuse the video gaming and hotel operations of Tropicana Entertainment to Eldorado Resorts Inc.

. The agreement, announced early Monday, includes the sale of Tropicana Entertainment Inc.’s property to Gaming and Leisure Properties Inc. It doesn’t consist of Tropicana’s Aruba possessions, which will be gotten rid of as a condition to closing.

Icahn Enterprises initially purchased a stake in Tropicana in 2008. The Las Vegas business currently owns and runs 8 casinos and resorts.

Eldorado Resorts is getting the running assets of 7 casinos in six states, consisting of 2 in Nevada– the Tropicana Laughlin Hotel and Casino and the MontBleu Casino Resort & & Health Club in South Lake Tahoe– as well as gambling establishments in Indiana (Tropicana Evansville); Louisiana (Belle of Baton Rouge Gambling Establishment & & Hotel); Mississippi (Trop Casino Greenville); Missouri (Lumière Location); and New Jersey (Tropicana Casino and Resort, Atlantic City).

These residential or commercial properties include around 7,900 slots, 265 table video games and 5,400 hotel spaces plus dining, retail and home entertainment features. Upon conclusion of all pending deals, Eldorado’s residential or commercial property portfolio will feature about 26,800 fruit machine and VLTs, more than 800 table video games and over 12,500 hotel spaces.

” The acquisition of 7 Tropicana Home entertainment homes will allow Eldorado to enter two brand-new video gaming jurisdictions and deliver extra monetary and geographic variety to our operating base,” stated business chairman and CEO Gary Carano.

Icahn said that when he got an interest in Tropicana in 2008, it was bankrupt yet underestimated. “By employing a great CEO in Tony Rodio and a terrific management team, and by reinvesting each and every single penny of profits back into the company, we turned Tropicana into a terrific gambling establishment business.”

The offer is targeted to close throughout the 2nd half of the year.

In Atlantic City, Icahn still owns the shuttered previous Trump Plaza Hotel and Gambling establishment, which shut down in 2014.

Mega Millions lottery reward approximately $502 million, 10th biggest in U.S.

Image

Gerry Broome/ AP In this July 1, 2016, file picture, Mega Millions lottery tickets rest on a counter at a Pilot travel center near Burlington, N.C.

Wednesday, March 28, 2018|10:59 a.m.

DES MOINES, Iowa– Lottery gamers could have a possibility of winning the country’s 10th largest lottery reward, as the Mega Millions estimated jackpot reaches $502 million.

The Friday night drawing will offer players an opportunity to invest $2 and dream of beating the incredible odds of 302.5 million to one and winning the big prize. Prize winners should match all six numbers in a drawing.

The $502 million prize is the annuity choice, where a sole winner is paid over 29 years. A winner opting for the prize money would take home $301 million, minus state and federal taxes.

No one has actually won the Mega Millions jackpot because January.

Mega Millions is one of 2 nationwide lotto games. It’s played in 44 states plus Washington, D.C., and the United States Virgin Islands.

Toys R United States Closing approximately 182 Stores

In news the retail industry was expecting but dreaded to hear, Toys R United States has filed notice with the United States Bankruptcy Court that it plans to wind down and close up to 182 shops.

Acknowledging the need to right-size its shop base, Toys R Us and consultants, consisting of Lazard Frères & & Co., Alvarez & Marsal, A&G Real Estate Partners, and Keen-Summit Capital Partners performed a comprehensive store-by-store performance analysis of all existing shops.

They examined historic and recent store profitability, historical and current sales patterns, occupancy costs, the geographical market where each shop is located, the potential to downsize specific stores, the prospective to consolidate particular Toys R United States and Children R Us places within a reasonable distance of one another, and the potential to work out lease reductions with appropriate property managers.

That analysis has actually led to recognizing 182 underperforming shops amounting to 6.9 million square feet of area – about 15% of its existing shop portfolio. The last number that might ultimately close still hinges on settling some continuous lease settlements, the company stated in its insolvency filing.

The majority of the shops remain in the Eastern half of the country (128 ). Majority of the stores to be closed are standalone Infants R United States (94 ), with 47 being standalone Toys R United States, and the rest being combined shops.

By state with the most closings, 24 are in California, 14 in New York, 12 in New Jersey, 11 in Florida, and nine in Pennsylvania.

Toys R United States owns 19 of the sites and the rest are either building or ground leases.

In addition, the business determines these as ‘initial store closings,’ leaving open the possibility of more later on.

The company anticipates to close the shops by mid-April.

The Wayne, NJ-based merchant presently runs 791 Toys R Us stores and Children R Us stores in the U.S.

Toys R United States Inc. filed for Chapter 11 personal bankruptcy security for its U.S. stores last September to reorganize $5 billion in arrearage.

Ex-Texas nurse implicated of eliminating approximately 60 kids in 1980s

By DAVID WARREN
Associated Press

DALLAS (AP) – A Texas nurse who remains in prison for the 1982 killing of a toddler has been charged with murder in the death of a baby a year previously, and authorities stated Friday that they think she may have eliminated as much as 60 young kids around that time.

Genene Jones, 66, is serving concurrent 99-year and 60-year sentences at a Gatesville prison for the 1982 killing of 15-month-old Chelsea McClellan and the sickening of a 4-week-old young boy who endured. The woman was provided a deadly injection of a muscle relaxant and the kid got a big injection of a blood thinner.

Jones was due to be released next March under a necessary release law that remained in location when she was convicted. But on Thursday, the Bexar County district lawyer’s workplace announced that she has actually been charged in the 1981 death of 11-month-old Joshua Sawyer, who investigators say died of a deadly overdose of an anti-seizure drug, Dilantin.

Throughout Jones’ time operating in health centers and clinics in San Antonio and somewhere else in Texas, children died of inexplicable seizures and other problems.

At a press conference Friday in San Antonio, District Attorney Nico LaHood said investigators believe Jones might have killed some or all of those kids due to the fact that they died under unusual scenarios throughout or shortly after her shifts.

“She’s been presumed in lots of infant deaths and she’s just been held accountable in one,” he said.

It’s unclear why Jones’ actions, involving numerous presumed victims, were not spotted earlier. But Sam Millsap, a previous district lawyer in Bexar County, told KSAT-TV in 2013 that medical records at the San Antonio medical facility at one point were accidently ruined, hampering efforts by private investigators to prove their suspicions.

Chelsea McClellan died after getting an injection at a clinic in Kerrville, northwest of San Antonio, and district attorneys at Jones’ 1984 murder trial said the nurse lethally injected kids there to demonstrate the requirement for a pediatric intensive care unit at a nearby medical facility.

Other district attorneys theorized that Jones’ strategy was to take speedy medical action and save some of her victims, making herself appear to be a sort of wonder worker.

LaHood stated the brand-new murder charge is based upon fresh proof that came to light and a review of old evidence. He also stated the deaths of a few of the other kids are being re-examined which additional charges could be coming.

Jones has been regularly rejected parole throughout the years. She was due to be launched next March after serving one-third of her sentence under a compulsory release law adopted in 1977 to assist alleviate jail overcrowding. The law was upgraded 10 years later.

Jones, whose case has actually been narrated in 2 books, a TELEVISION motion picture and various posts, was “psychological” when she was served an arrest warrant Thursday, LaHood stated.

“We have every need to believe that she completely anticipated to obtain out next year,” he said.

Since of the new charge, Jones will be transferred to the Bexar County prison and hung on a $1 million bond while the case is prosecuted. A murder conviction brings a maximum sentence of 99 years. LaHood stated Jones is not eligible for the death sentence because Texas did not have such a sentence at the time of the 1981 death.

“We will do our best to make sure that Genene Jones takes her really dying breath behind bars,” LaHood said.

___

This story has been remedied to show the surname of the kid that Jones is in jail for killing is McClellan, not McClelland, and that the killing occurred in 1982, not 1984.

___

Follow David Warren on Twitter at https://twitter.com/WarrenJourno

Copyright 2017 The Associated Press. All rights scheduled. This material may not be released, broadcast, reworded or redistributed.

HP to jettison approximately 30,000 tasks as part of spinoff

Image

Paul Sakuma/ AP

This Aug. 21, 2012, file photo shows an outside view of Hewlett-Packard Co. headquarters in Palo Alto, Calif.

Released Tuesday, Sept. 15, 2015|3:03 p.m.

Updated Tuesday, Sept. 15, 2015|5:52 p.m.

SAN FRANCISCO– Hewlett-Packard Co. is preparing to shed as much as another 30,000 jobs as the Silicon Valley pioneer launches into a brand-new age in the very same cost-cutting mode that has actually ruined much of its recent history.

The purge announced Tuesday will certainly occur within the freshly formed Hewlett Packard Business, a bundle of technology divisions concentrated on software application, consulting and information analysis that is splitting off from the company’s desktop computer and printing operations.

The spinoff is set up to be completed by the end of next month, dooming 25,000 to 30,000 tasks within HP Business. The target indicates 10 to 12 percent of the 252,000 employees joining HP Enterprise will lose their jobs as part of the company’s effort to reduce its expenses by $2 billion annually.

About 50,000 employees will remain at HP Inc., which become the brand-new name for the company retaining the PC and printer operations.

The cuts broaden upon austerity steps that HP has been pursuing for several years to offset the damage caused by acquisitions that have not worked out and a technological shift from PCs to mobile phones that decreased demand for numerous of the company’s crucial products.

HP has currently rejected 55,000 tasks throughout previous few short years under CEO Meg Whitman, who will be the leader of spun-off HP Business. In an illustration of how far HP has actually fallen, its job cuts are being made while lots of other innovation business better placed to make the most of the mobile advancement have been on employing sprees.

For instance, Google’s labor force has swelled by 25,000 staff members, or 77 percent, during the previous 4 years.

HP’s layoffs have been demoralizing blow to a business that offered a template for future Silicon Valley entrepreneurs when William Hewlett and David Packard founded it 76 years earlier in a Palo Alto, California, garage. Hewlett and Packard later embraced an employee-friendly approach that became known as the “HP Way.”

Things started to change at the beginning of this century under previous CEO Carly Fiorina, now a candidate for the Republican politician Celebration’s nomination in the 2016 race for president. Fiorina crafted a $25 billion acquisition of PC maker Compaq that angered numerous shareholders, consisting of successors of the business’s founders. She cut more than 30,000 jobs prior to she was fired a decade ago.

Fiorina’s successor, Mark Hurd, also lowered costs through much of his tenure and orchestrated an acquisition of innovation consultants EDS that numerous experts think did more harm than good. Hurd stepped down in 2010 in a disagreement over his expenditures and his involvement with an HP specialist.

In spite of the upheaval, HP stays among the world’s biggest technology companies. HP Business expects to have more than $50 billion in annual revenue.

Whitman is touting the splintering of HP as a way to breathe new life into pair of business that will be better suited to innovate in their own item locations and look after their customers.

HP Business focuses mostly on businesses and federal government firms, while the PC and printing divisions depend on the customer market for a considerable piece of their earnings.

“Hewlett Packard Enterprise will certainly be smaller and more focused than HP is today,” Whitman promised in a Tuesday statement.