industry

The secretive sale late last year of the Las Vegas Review-Journal, Nevada's largest news organization, to the family of one of the wealthiest men in the country set off shock waves in that newsroom.

The vast financial and political interests of the billionaire casino magnate and major Republican donor Sheldon Adelson raise nettlesome questions about how the paper can cover him.

Denis-Carl Robidoux / Creative Commons

General Electric said in this week's announcement that it began considering a headquarters move three years ago: in other words, long before last spring's dust-up over Connecticut’s budget. 

Harriet Jones / WNPR

General Electric confirmed on Wednesday afternoon that it will move its headquarters to Boston from Fairfield.

Seventeen miners at a salt mine in western New York were freed early this morning after they were trapped hundreds of feet underground when the elevator they were in stopped working late Wednesday night.

FuelCell Energy

Pfizer will install a fuel cell power plant at its Groton research and development facility. The aim is both to move to a greener form of energy, and to have the potential for off-grid reliability.

How The Mass. Casino Industry Stands As 2016 Begins

Dec 30, 2015

It’s been a big year for the casino industry in Massachusetts. The state’s first expanded gambling facility opened in June. The Plainridge Park Casino has 1,250 slot machines and a racetrack. And bigger casino proposals in Boston and Springfield are closer to becoming realities.

Here’s what’s changed over the past year:

Falling Revenues In Plainville

Steup / Flickr Creative Commons

To the list of things you can't avoid -- death and taxes -- we now add losing your job to a machine. A worry typically reserved for those in manufacturing, automation in the workplace is now a reality of nearly all occupations, and it's only getting worse... or is it?

One day after he was arrested on fraud charges, controversial drug executive Martin Shkreli has resigned his post as the leader of Turing Pharmaceuticals. Shkreli is currently free on bail.

Turing announced the change Friday, naming Ron Tilles, its current board chairman, as the interim chief executive officer.

"We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors," Tilles said in a statement about the move.

The lack of snow is disappointing for skiers, but it’s also a problem for the several thousand people who depend on Vermont ski resorts for seasonal work; many resorts are reducing hours or delaying the start of those employees, while other resorts are having to get creative in the way they put staff to work.

The mysterious new owner of the Las Vegas Review-Journal was revealed in a statement printed on page 2 of Thursday's edition: "We are proud to announce that the Adelson family has purchased the Las Vegas Review-Journal through a wholly-owned fund, as both a financial investment as well as an investment in the future of the Las Vegas community."

The Federal Reserve on Wednesday announced liftoff for short-term interest rates — a launch that may send many borrowing costs higher in 2016.

The 0.25-percentage-point increase — to a range of 0.25 percent to 0.5 percent — in the federal funds rate was small but important because it signals the beginning of the end of easy money; the Fed wants to get back to normal after years of fighting economic stagnation with supercheap loans.

The two largest chemical companies in America will become one entity named DowDuPont, as Dow Chemical and DuPont say they're joining in a "merger of equals." The new company will have a market capitalization of around $130 billion.

After the merger, the resulting behemoth would be split into what Dow Chairman and CEO Andrew Liveris calls "three powerful new companies," with a combined revenue of around $83 billion.

One of the state’s largest employers is about to undergo a major change in ownership. Keurig Green Mountain, the Waterbury-based coffee company that employs more than 600 people statewide, is to be bought by an investor group for $13.9 billion. But state officials say they’re confident that Vermont workers will keep their jobs.

Ingram Publishing / Thinkstock

Some companies are trying to keep ahead of negative online reviews by suing or threatening consumers. 

Amazon has released a glimpse of what its much-anticipated drone deliveries could look like, although it warns the service is still very much in a testing phase.

Niall Kennedy flickr.com/photos/niallkennedy/3242764552 / Creative Commons

Electric automaker Tesla Motors, Inc. plans to resume efforts to pass state legislation allowing them to open showrooms in Connecticut and sell its vehicles directly to consumers.

Photo by Chion Wolf

Pfizer's proposed merger with Allergan, which will take the pharmaceutical giant's tax domicile overseas, has provoked a new round of angst about corporate defections.

The controversial Northeast Energy Direct natural gas pipeline is now in the hands of the federal government.

The Massachusetts Gaming Commission is scheduled to come to Springfield on December 3 for a public meeting where officials from MGM are expected to present a comprehensive cost and design analysis of the latest plans for a casino in the city.

MGM officials say the budget to develop a resort casino in Springfield has increased to $950 million -- $150 million more than the estimated investment when the gaming commission awarded a license for the project in June 2014.

The U.S. drug giant Pfizer and its smaller rival Allergan have agreed to merge, creating the world's biggest pharmaceutical company by sales.

The $160 billion deal is the largest example so far of a corporate inversion, in which a U.S. company merges with a foreign company and shifts its domicile overseas in order to lower its corporate taxes.

MGM has reaffirmed its commitment to build a resort casino in Springfield, Massachusetts and now plans to spend an additional $150 million in the project.

MGM will invest $950 million to develop the resort casino in Springfield despite design changes that reduce the size of the project, and eliminate a 25-story hotel tower.

MGM President Bill Hornbuckle announced the new budget for the project at a presentation Wednesday night for city officials and residents. 

In 1996, California became the first state to legalize medical marijuana. Eleven years ago, Vermont followed suit. But doctors still know surprisingly little about the pharmacology of cannabis. And a Vermont-based think-tank is hoping to transform the industry by applying new scientific rigor to an old drug.

Courtesy Travelers

People who live or work in Hartford may have noticed last night a visible sign of solidarity with the French people after the Paris attacks.

The lights of the Travelers Tower on Grove Street flashed blue, white and red as a mark of respect, after last Friday's terror attacks which claimed the lives of 129 people.

Stephen Pierzchala / Creative Commons

In an era awash in the rollout of brand new gadgets, gizmos, fashions, and fads, it's easy to think of obsolescence as part of the natural order: Remember popped lapels, pay phones and laserdisc players? But the idea that an object should quickly fall from favor, lose functionality, and find itself in a landfill somewhere is quite new -- and it didn't come about by accident.

Now that Starwood Hotels has announced it's to be bought by Marriott International, there's the small matter of state incentives to be worked out.

The Tiverton Town Council is slated to hold a public hearing Monday on Twin River’s Tiverton casino proposal. 

Twin River wants to build a two-story, 85-thousand square foot casino in a remote part of Tiverton very close to the Massachusetts border. The council may vote to support the plan, or it could wait to vote on it at another time.

Rhode Island is gaining notice as a contender in the high-stakes battle over General Electric's possible relocation from Connecticut, thanks to the state pension overhaul spearheaded by Governor Gina Raimondo in 2011.

Starwood

Starwood, the hotels group which is Stamford’s largest employer, is being bought by Marriott International. Marriott will pay $12.2 billion for Starwood. The combined company will be the largest hotel group in the world, with more than 5,000 properties.

Harriet Jones / WNPR

For 40 years, Connecticut has been home to one of the titans of the Dow, General Electric. But now the state is playing a game of “will they or won’t they” with one of its most high profile corporate citizens. 

Harriet Jones / WNPR

Aerospace professionals from across the globe are in Groton this week, as local supply chain companies get an opportunity to network with overseas counterparts and with big U.S. defense companies. 

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