ATLANTIC CITY, N.J. (AP) — A New York hedge fund that lent money to Atlantic City’s Ocean Resort Casino is assuming ownership of it.Luxor Capital Group was identified as the new owner in a press release Monday from the casino. The company, which is not related to the Luxor casino in Las Vegas, will take over the ownership interest of Bruce Deifik and his family.Luxor Capitol will assume control once it receives interim authority to own a casino. Until it gets that approval, which could come within three to four months, a trust will be created for the casino's temporary ownership.Once Luxor Capital completes a promised $70 million investment into the property, a trustee will be appointed to oversee the trust until the company is deemed suitable to hold a casino license in New Jersey.Ocean Resort Casino in Atlantic City gets new owners after just 6 monthsThe casino-hotel plans to operate normally during the transition. The ownership change comes less than seven months after … [Read more...] about Does surprise ownership change at Ocean Resort Casino in Atlantic City signal trouble for lagging former Revel?
Cochran, Cochran & Yale LLC recently underwent an ownership change, with company president Shawn Baker purchasing the firm from his father, Gary. Brighton-based Cochran, Cochran & Yale specializes in executive search and management consultation, priding itself on finding the right person to fill top-slot positions for clients. Shawn Baker's focus will be expanding the company's footprint, both ... … [Read more...] about Cochran, Cochran & Yale eyes growth after ownership change
Will Cleveland Rochester Democrat and Chronicle Published 12:22 PM EDT Oct 3, 2018 The past six weeks left the future of Webster's Knucklehead Craft Brewery in limbo. Was it time to move to a bigger location? Should the brewery expand capacity? What could the future bring with a potential change in ownership? But Len Dummer, one of the brewery's founders, answered those questions with a smile and a wry laugh. He turned to his family to provide support and answers. Co-founder George Kline decided to walk away amicably from the brewery last month, according to a Facebook post. So Dummer and his wife Kathy and two sons, Josh (who runs the kitchen) and Jake (who is the head brewer), bought out Kline's share in the brewery. Then the brewery, located at 426 Ridge Road, proceeded with expansion planning. Over multiple meetings, the Dummers presented plans to both the town's zoning and planning boards. And according to Dummer, those plans were accepted. "Working with my best … [Read more...] about Knucklehead Brewing ownership change, eyes expansion
Unifrax Corp. is changing owners. Clearlake Capital Group, a private investment firm based in California, has a signed an agreement to acquire the Town of Tonawanda-based manufacturer from American Securities Capital Partners. Terms were not disclosed. Unifrax has poured $67 million in investment into two Tonawanda plants over the past year. The company also has operations in Sanborn. Worldwide, Unifrax has a total of 2,300 employees at its 31 manufacturing plants. Unifrax makes ceramic fiber insulation products used in high-temperature industrial, automotive and fire protection applications. Its two Tonawanda plants have more than 300 employees, and its two recent projects received more than $1.9 million in incentives from the Erie County Industrial Development Agency and $1.3 million in incentives and grants from National Grid. John Dandolph, Unifrax's president and CEO, said Clearlake "shares our strategic vision to drive growth while accelerating our pace of … [Read more...] about High-temp product maker Unifrax prepares for ownership change
By Cornelius Frolik, Staff Writer A loyal customer base is being credited with saving a men’s clothing store in downtown Dayton that had a brush with catastrophe after a burst pipe caused serious flooding. Price Stores at 52 S. Jefferson St. reopened its main men’s showroom this month after being closed for more than 10 months because of water damage. RELATED: Looking for new office space? New downtown Dayton program to help first-timers Edd Wimsatt bought Price Stores in 1996. Wimsatt worked at the store as a teen. He hopes the business can stay put at its long-time home on Jefferson Street. CORNELIUS FROLIK / STAFF (Staff Writer) The store, which first opened in 1950, survived by keeping a small portion of its business open for proms and weddings, said Edd Wimsatt, the business owner. Recommended for you Recommended for you Recommended for you Most read 1 High school football power rankings: Week 1 2 Fuyao class action has 636 plaintiffs: … [Read more...] about Downtown clothing store survives flooding, building ownership change