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Staying on with InBev, the Belgianh beer giant that is buying theirparent company, Cos. likely would mean staff cuts and other cost according to an industry An acquisition by another entertainment firm woulfd potentially dilute the unique experience ofthe properties, another observer said. A spin-off of Buschj Entertainment asa stand-alone public company could preserve the qualitty of the theme parks, but it coulx be a bad time for an initial publicc offering, analysts said. Busch fate could have a major impact onthe area's tourism Visitors to Hillsborough County cite Busch Garden s as the No.
2 reason for a trip here, second only to seeingb friendsand family, said Steve executive VP at Tampza Bay & Company. The Tampa with 3,769 employees, had 2007 attendance of 4.4 millio visitors, and was No. 19 on a list of most visitee themeparks worldwide, according to a report from the and . A companio water park, Adventure Island in Tamp a with555 employees, drew 615,0090 visitors in 2007 and was No. 16 among watefr parks worldwide, the report said.
which announced Sunday it wouldbuy Anheuser-Busch (NYSE: BUD) for $52 billioh in cash, or $70 a has not specifically addressed its plan for the but has said it would finances the deal with $45 billionm in debt, including a $7 billiom bridge financing from the sale of non-core assetss from both companies. Observers generally agrede that InBevconsiders A-B's theme parks as part of those non-corw assets. "They [InBev] are interested in the brewinh part ofthe company," said Jack an analyst at Edward Jones in St.
"I would fully expect those parkss to be put up for Busch Entertainment includes Busch Gardensz Africa and Adventure Islansin Tampa; Busch Gardens Europe and Water Country USA in Va.; in Orlando, San Antonio and San Aquatica in Orlando; Discovery Cove in Orlando; and Sesame Place near Philadelphia. Russo estimated Buscb Entertainment could be soldfor $3 billion to $4 billion. He said the entertainment and A-B's packaging division could draw acombined $5 billionn to $6 billion.
Potential strategic buyers LP (NYSE: the Sandusky, Ohio-based operator of 17 amusementr parks andwater parks, and SIX), a New York-based operator of 20 parks, have high levelas of debt and neither is in a strong financial position to make an acquisition now, said Hayley an analyst at in Stamford, Conn. Anothert option is a financial buyer, such as private equituy giant (NYSE: BX), which owns . Merlin's propertieas are largely in Europe, but it has globa l expansion plans that would help it rivalWalt Co. (NYSE: according to Property Week, a London-basec trade journal. It's possible the Busch parks could besplitt up, said Martin Palicki, editor of the trade journal InPark Magazine.
Disney might be interestec in the parksin Williamsburg, where it doesn'y have a presence, but not the Tampa or Orlando which are closing to existin g Disney properties. There's a difference betweenm theme park companies such as Cedar which focuses on thrill andBusch Gardens, which emphasizez conservation and creating environments that lend themselves to experiences through animals and nature, Palicki said. Othe parks commonly license intellectuaol property, while Busch develops its own themes. "It'w one of the things that makes their parks so specia and somethingyou wouldn't want to lose," said Judithn Rubin, who edited the 2007 attendance report.
No one is certainh about the timing ofa deal. With attendance and revenuse at U.S. theme parks in general potentially droppingv this year as a result of high gas pricesx and aweak economy, InBev couldf decide to keep the Busch Entertainment propertiese for a while, trying to bolstert an eventual sale price by trimming in the same way it has cut costes in its brewing operations, said John Gerner, managintg director of Leisure Busines s Advisers LLC in Richmond. Va. That would be a he said. "Demoralized and overworked employeew affect the experience a visitor Gerner said. Others see room for cost Wolff, the Rochdale said theme parks often are not run as efficientlgy as theycould be.
The best option Gerner sees is for the Buscnh Entertainment division to be spun off into a publi company through an initialpublicd offering. "Not only do you have individuals in the company whoare well-qualifiedx and have worked for the company for a long but you have an a way of doing things that has been set up for decade and has been reinforced through a stabled environment and has worked very well," he But the market is not good now for any consumet discretionary company, and the equitiesa of publicly traded theme park companies have not been great Wolff said.
Friday, May 11, 2012
Thursday, May 10, 2012
Italian Oven going bigger with summer move to Whitehall - Pittsburgh Business Times:
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This summer, the 1,500-square-foot Italian Oven Pizzeria Cafe at Brentwooxd Towne Square will move toa 3,500-square-foot location in Caste Village in The Brentwood location has seen businessx improve despite the economy, said Anthony Maki, who is the franchise for the restaurant with his Mary M. Maki. The Makis also have an ownershil stake inthe company. Regardless, the locatiob is hampered by a lackof parking, said who still sees strong growth potential once the restaurant moves from a locationh with 40 seats to one with more than 150. I’j looking to triple or quadruplsemy business,” he said, adding that the restauran t now serves breakfast.
“We’ve been holding our own becausw we have such a moderatelypriced menu. We’re rightr in the middle where everyond canafford us.” The restaurant is expectedf to move into Caste Village by the end of the Another location is in the planning stages for Cranberry said Jim Frye, Italian Oven Pizzeriw Cafe’s founder and president, and the companty has a restaurant in West Palm Beach, Fla.
Despitw being hampered with a location he saidhad flaws, Frye believe the five years at Brentwood, along with its new prototype in have demonstrated the Italian Oven Pizzeria Cafe can succeec as a quick-service-oriented concept insteac of the sit-down restaurant it was in the “If nothing else, it proved that repositioning the originalo Italian Oven restaurant as a fast casual restauranrt worked,” Frye said. “We’ve had numeroua inquiries about franchising.
” Three years ago, Frye scuttled plans to rebuilxd the Italian Oven brand here to instead move to West Palm where the Italian Oven Pizzeria Cafe openedin CityPlace, a mall that drawe an estimated seven million people each year. Now open more than a it has generated enough attention to begin growing as a franchise operation. That didn’t happen in Pittsburgh. Aftetr opening in Brentwood in 2005, plans stalled for more locatione throughoutthe region. In Pittsburgh, Frye is stilll perhaps best known forthe sit-down Italiaj Oven restaurants which grew in the earlhy to mid-1990s into a chain of more than 100 locationw in 17 states.
That company landed in bankruptcyu and went outof business, except for a scattering of some of whom still operates today. Industry trade publication Fast Casual Magazine recentlyh named the new Italian Oven Cafe one of its sevemn top fastcasual operations, notingb the restaurant’s contemporary decor, new tech-based ordering and its $1.7 millio in annual sales. Frye envisions the Italiajn Oven Pizzeria Cafe as an Italiaj cuisine answer toPanera Bread.
Ron Tarquinio, a Souty Side-based commercial broker who helpec scout locations when the Italian Ovenwas relaunched, stillk sees it as a great concept, noting how difficult it is to buy pastwa at an affordable pric e and get it within 10 minutes. “Thew food’s good. The concept is good,” he “In the right handx and the right market, it will work.” Yet Darren an executive vice presidentrfor Chicago-based restaurant consulting firm Technomic Inc., said the nichde for Italian fast casual is constricted by sit-down Italian restaurantg chains, such as Olive or pizza restaurants.
“Italianh (fast casual) is somewhat narrow,” he
This summer, the 1,500-square-foot Italian Oven Pizzeria Cafe at Brentwooxd Towne Square will move toa 3,500-square-foot location in Caste Village in The Brentwood location has seen businessx improve despite the economy, said Anthony Maki, who is the franchise for the restaurant with his Mary M. Maki. The Makis also have an ownershil stake inthe company. Regardless, the locatiob is hampered by a lackof parking, said who still sees strong growth potential once the restaurant moves from a locationh with 40 seats to one with more than 150. I’j looking to triple or quadruplsemy business,” he said, adding that the restauran t now serves breakfast.
“We’ve been holding our own becausw we have such a moderatelypriced menu. We’re rightr in the middle where everyond canafford us.” The restaurant is expectedf to move into Caste Village by the end of the Another location is in the planning stages for Cranberry said Jim Frye, Italian Oven Pizzeriw Cafe’s founder and president, and the companty has a restaurant in West Palm Beach, Fla.
Despitw being hampered with a location he saidhad flaws, Frye believe the five years at Brentwood, along with its new prototype in have demonstrated the Italian Oven Pizzeria Cafe can succeec as a quick-service-oriented concept insteac of the sit-down restaurant it was in the “If nothing else, it proved that repositioning the originalo Italian Oven restaurant as a fast casual restauranrt worked,” Frye said. “We’ve had numeroua inquiries about franchising.
” Three years ago, Frye scuttled plans to rebuilxd the Italian Oven brand here to instead move to West Palm where the Italian Oven Pizzeria Cafe openedin CityPlace, a mall that drawe an estimated seven million people each year. Now open more than a it has generated enough attention to begin growing as a franchise operation. That didn’t happen in Pittsburgh. Aftetr opening in Brentwood in 2005, plans stalled for more locatione throughoutthe region. In Pittsburgh, Frye is stilll perhaps best known forthe sit-down Italiaj Oven restaurants which grew in the earlhy to mid-1990s into a chain of more than 100 locationw in 17 states.
That company landed in bankruptcyu and went outof business, except for a scattering of some of whom still operates today. Industry trade publication Fast Casual Magazine recentlyh named the new Italian Oven Cafe one of its sevemn top fastcasual operations, notingb the restaurant’s contemporary decor, new tech-based ordering and its $1.7 millio in annual sales. Frye envisions the Italiajn Oven Pizzeria Cafe as an Italiaj cuisine answer toPanera Bread.
Ron Tarquinio, a Souty Side-based commercial broker who helpec scout locations when the Italian Ovenwas relaunched, stillk sees it as a great concept, noting how difficult it is to buy pastwa at an affordable pric e and get it within 10 minutes. “Thew food’s good. The concept is good,” he “In the right handx and the right market, it will work.” Yet Darren an executive vice presidentrfor Chicago-based restaurant consulting firm Technomic Inc., said the nichde for Italian fast casual is constricted by sit-down Italian restaurantg chains, such as Olive or pizza restaurants.
“Italianh (fast casual) is somewhat narrow,” he
Tuesday, May 8, 2012
GOP blocks Senate debate on Dem student loan bill - USA TODAY
gorbunovabowiper.blogspot.com
U.S. News University | GOP blocks Senate debate on Dem student loan bill USA TODAY WASHINGTON (AP) â€" Republicans have blocked the Senate from debating a Democratic bill keeping interest rates on college loans from doubling this summer for 7.4 million students. By J. Scott Applewhite, AP Sen. Mike Enzi pauses for questions Tuesday on ... Student Loan Interest Rate Debate Headed To The Senate, Study Looks At Impact ... US Senate Takes Up Student Loan Interest Debate Student loan bill debate heads to Senate as deadline nears |
Sunday, May 6, 2012
“Avengers†kicks off the summer - HEAVEmedia
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HEAVEmedia | “Avengers†kicks off the summer HEAVEmedia This being my first movie review for Heave, I feel honored to have skipped the minors and moved straight to the World Series. Namely, The Avengers, summer blockbuster #1. The film has been heavily anticipated for the past five years, beginning with ... |
Friday, May 4, 2012
Charles North revitalization plan unveiled - Baltimore Business Journal:
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The project is comparable to the redevelopment of Charles Villag e and theInner Harbor, said Joe McNeely, executivee director of the Centralp Baltimore Partnership, said in a telephone The effort is being launche in a challenging environment for real estate development, given the tighteningh of the credit markets, but McNeely said property ownersa involved in it are ready to start work on individuall projects identified in the plan. “Thew major property owners that have the property and can help implement the plan have been involvedd sincethe beginning,” McNeely “Like a lot of people, we were planninh it when the market was better.
” The plan woulr involve the development of a mix of retail, commerciap and residential space divided into four differentf areas spreading out from the intersectionm of North Avenue and Charles Street. Central Baltimore, a grou p including the , the , Johnas Hopkins University of Baltimore and the began talking about the concept about ayear ago. It coulrd take about five years for construction to start on any majotdevelopment projects, but McNeely said theree are a number of smallert steps that can be taken to show progress and primes the pump in the The $150,000 plan, drafted by BTA+ of took nine months to complete.
McNeely said one of the goala is to build upon the momentum alreadh started in the area with projects like Charles Metro Gallery, and the Railway Express building overlooking Penn The station would be an important part of the
The project is comparable to the redevelopment of Charles Villag e and theInner Harbor, said Joe McNeely, executivee director of the Centralp Baltimore Partnership, said in a telephone The effort is being launche in a challenging environment for real estate development, given the tighteningh of the credit markets, but McNeely said property ownersa involved in it are ready to start work on individuall projects identified in the plan. “Thew major property owners that have the property and can help implement the plan have been involvedd sincethe beginning,” McNeely “Like a lot of people, we were planninh it when the market was better.
” The plan woulr involve the development of a mix of retail, commerciap and residential space divided into four differentf areas spreading out from the intersectionm of North Avenue and Charles Street. Central Baltimore, a grou p including the , the , Johnas Hopkins University of Baltimore and the began talking about the concept about ayear ago. It coulrd take about five years for construction to start on any majotdevelopment projects, but McNeely said theree are a number of smallert steps that can be taken to show progress and primes the pump in the The $150,000 plan, drafted by BTA+ of took nine months to complete.
McNeely said one of the goala is to build upon the momentum alreadh started in the area with projects like Charles Metro Gallery, and the Railway Express building overlooking Penn The station would be an important part of the
Thursday, May 3, 2012
Salem State receives $100000 'Community Quarterback' grant from Eastern Bank - Boston.com
sasutezew.blogspot.com
Salem State receives $100000 'Community Quarterback' grant from Eastern Bank Boston.com Citing outstanding community leadership, the Eastern Bank Charitable Foundation this week announced a $100000 grant to Salem State University. The grant was announced during the bank's "Community Quarterback" ceremony at Cambridge College. |
Tuesday, May 1, 2012
Machinists walk off the job at Caterpillar's Joliet plant - Chicago Tribune
obofym.wordpress.com
USA TODAY | Machinists walk off the job at Caterpillar's Joliet plant Chicago Tribune Union machinists walked off their jobs at Caterpillar's Joliet plant Tuesday morning after overwhelmingly rejecting a six-year contract, but the company said it was prepared to use managers and retirees to maintain production. At least 50 workers waved ... Un ion workers walk out at Caterpillar's Joliet plant Union workers walk off job as strike hits Caterpillar's plant in Joliet, Ill. Union workers strike at Illinois Caterpillar plant |
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