Industry News

CPI Corp. processed portrait photos for Sears and others, developer Michael Knight is about to start building apartments in a historic downtown St. Work is scheduled to begin in September to renovate the former CPI headquarters, at 1706 Washington Avenue, as 168 market-rate apartments and a preschool. "We're ready to roll," the developer, Michael Knight of Kansas City, said Thursday."/>
Monogram apartment project about to begin [St. Louis Post-Dispatch]
Diamond Resorts International, Inc., Apollo said. On 29 June Diamond Resorts entered into an agreement and plan of merger with affiliates of certain funds managed by affiliates of Apollo Global Management under which the Apollo Funds will acquire Diamond..."/>
Apollo Funds Launch Tender Offer for Diamond Resorts Shares
Cathay Pacific Airways plans to stop in Portland twice a week as part of a route that begins and ends at the company's hub in Hong Kong, also stopping along the way in Los Angeles. The port had been recruiting a carrier for two years, it said."/>
Port of Portland lands new air cargo carrier for Asia-bound exports [The Oregonian, Portland, Ore.]
Station announces plans to build casino in Reno [Las Vegas Sun]
Century Casinos Inc. has opened two more casinos aboard cruise ships, boosting its onboard gaming operations to 15, the Colorado Springs-based gaming company announced this week. The two new casinos are aboard the TUI Discovery, operated by TUI Group subsidiary Thomson Cruises, with 12 slot machines, three live gaming tables an electronic gaming table, and the Glory Sea of Diamond Cruise International Co. Ltd., with 40 slot machines and 16 live gaming tables."/>
BRIEF: Colorado Springs-based gaming company adds two cruise-ship casinos [The Gazette (Colorado Springs, Colo.)]
Starbucks and JPMorgan Chase this week separately revealed plans to raise worker pay, they were the most recent in a steady barrage of high-profile announcements of companies' human resources strategies. News releases and social media posts trumpeting generous parental leave policies, unlimited vacation time, flexible work arrangements and revamped performance-management systems have become as reliable as earnings statements, reflecting a scramble to..."/>
High-profile pay raises by firms can trigger job malaise at other companies [Chicago Tribune]
Sears Holdings, which owns Kmart. Store employees were notified today."/>
Kmart: Clinton Twp. store to close, start liquidating [Detroit Free Press]
BorgWarner, a global automotive parts supplier geared toward technologies to improve fuel economy and emissions, announced plans Thursday to expand its Auburn Hills operations and create 76 jobs with support from the Michigan Strategic Fund, state officials said. The project is expected to generate $27 million in total investment. "BorgWarner is a global player in automotive R&D and could have chosen to expand anywhere in the world."/>
Auto supplier BorgWarner to expand in Auburn Hills, add 76 jobs [Detroit Free Press]
Peak Resorts, Inc., a leading owner and operator of high-quality, individually branded ski resorts in the U.S., today reported results for the fourth quarter and full year of its 2016 fiscal year ended April 30, 2016.. Revenue for fiscal 2016 was $95.7 million. Fiscal 2016 net loss was $3.3 million, or 23 cents per share. Reported EBITDA* for fiscal 2016 was $16.2 million. Resort operating expenses were down $0.5 million for the full year. During the spring, demand..."/>
CORRECTED: Peak Resorts Reports Results for Fourth-Quarter and Full-Year 2016

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