George Clooney gambles with investing in Las Vegas
Las Vegas – The last time George Clooney scored big in Las Vegas, he played a character who ripped off a casino in the movie “Ocean’s Eleven.” This time, instead of taking oodles of cash out of a megaresort, the actor is putting a sizable chunk of his money into one.
Clooney has invested an undisclosed amount in a proposed $3 billion development called Las Ramblas to be built just east of the heart of the Las Vegas Strip.
While the location for his latest project is the same, the cast is much different. Clooney is partners with major real-estate developers Related Las Vegas and Centra Properties, along with influential nightclub owner Rande Gerber and his company, After Midnight.
“I could end up just losing my shirt on this whole thing, but these guys are pretty good at what they do,” Clooney told The Associated Press. “It’s going to be an adventure.”
Las Ramblas is planned for about 25 acres between the Hard Rock hotel-casino and the proposed W hotel, Starwood’s newest Las Vegas venture, which was recently announced. Las Ramblas is named for a fashionable and pedestrian-friendly area in Barcelona, Spain, that boasts a promenade and cafes.
LOUISVILLE
Votes tallied today on StorageTek merger
Storage Technology Corp. shareholders vote today to approve the Louisville company’s acquisition by Sun Microsystems Inc. According to Storage Tek officials, most of the votes have already been cast by proxy and will be tallied by company officials in Manhattan this morning.
StorageTek shareholders will receive $37 per share in cash from Sun, valuing the deal at $4.1 billion.
“Most of our shareholders are large institutional organizations, and they seem to be supportive of it,” said StorageTek spokesman Jeremy Story.
If approved, the merger could be finalized by Wednesday.
ALEXANDRIA, Va.
Beer association floats benefits to Colorado
The National Beer Wholesalers Association, a group representing beer distributors and the Beer Institute, announced Monday that the beer industry provides 76,161 jobs in Colorado and generates more than $2.93 billion in annual wages and $1.58 billion in taxes in the state.
“The economic climate of Colorado would be drastically different if not for the beer industry’s impact here,” said David Rehr, the group’s president.
CENTENNIAL
AZN Network signs NBA program deal
AZN Network, a cable channel that features programming geared toward Asian-Americans, Monday announced a partnership with the National Basketball Association to produce programming for the channel.
The agreement allows AZN, a service of Centennial-based International Networks, to produce 10 NBA specials over the next two years. AZN also will have the rights to air “Yao Ming in the NBA,” a documentary that chronicles the Houston Rockets all-star center’s second year in the league.
AZN is available in metro Denver through Comcast Cable on digital Channel 240.
DENVER
Qwest iQ service rated as “best value”
Qwest Communications International Inc. announced Monday that CMP Media LLC’s Network Computing Magazine has given Qwest iQ Networking its “Best Value” award for wide- area networking solutions.
After a review process, Network Computing determined Qwest’s solution had “excellent reliability, a good services offering and, without a doubt, the best price.”
DENVER
AARP ranking favors CU hospital, Pinnacol
The University of Colorado Hospital Authority and Denver-based Pinnacol Assurance, which provides workers’ compensation insurance, are among the best places in the country for those over 50 to work, according to AARP.
The hospital authority ranked 28th on AARP’s 2005 list of the 50 best employers for workers over 50, and Pinnacol Assurance was 40th.
DOUGLAS COUNTY
Cenveo elevates CEO to chairman of board
Cenveo Inc. announced Monday that James R. Malone, who was named chief executive in June, has been named to the additional position of chairman of the board of directors, effective immediately.
Susan Rheney, who had served as interim chairman for eight months and helped guide the Douglas County-based printing company through its search for a new CEO, will leave the board effective Wednesday.
BEDMINSTER, N.J.
Verizon cuts wireless fee, expands to DIA
Verizon Wireless, the second-largest U.S. mobile-phone services provider, is cutting the price of its fast wireless Internet access by $20 as it expands the service to seven new markets across the country, including San Francisco. The expansion includes Denver International Airport.
With the move into cities such as Baton Rouge, La., and Charlotte, N.C., Verizon Wireless says it offers data services to 140 million people in 61 U.S. markets.
TRENTON, N.J.
Judge refuses to delay upcoming Vioxx trial
Beleaguered drugmaker Merck & Co.’s request to postpone the next trial over its withdrawn painkiller Vioxx was turned down Monday by the New Jersey judge presiding over the case.
Superior Court Judge Carol E. Higbee, who is overseeing nearly 2,500 Vioxx product-liability cases that have been filed in New Jersey, also rejected several other Merck motions related to the upcoming trial.
SAN MATEO, Calif.
$50 vouchers OK’d in iPod battery suit
Apple Computer Inc.’s plan to issue $50 vouchers to settle a lawsuit filed by consumers who complained about the battery life of older versions of the iPod music player was approved by a California judge.
Judge Beth Freeman in San Mateo, Calif., approved the settlement Thursday. Under the agreement, Apple will issue the vouchers or extend service warranties for as many as 1.4 million customers who experienced battery problems.
CHICAGO
CWA elects Cohen as union’s new leader
The Communications Workers of America elected Larry Cohen on Monday to succeed longtime president Morton Bahr, who led the union for two decades through a turbulent period following the breakup of the AT&T Bell Telephone system.
