MGM Mirage Barters For 50% Stake In New $1.2 Billion Las Vegas Casino

The MGM Mirage is trading 40 acres of a 78-acre parcel of land that it owns (valued at $20 million an acre) for a 50% stake in a new Las Vegas casino that will be developed by Kerzner International Holdings and Dubai World, a holding company for the Persian Gulf state of Dubai.

The latter two organizations will each own a 25% share in the casino, which will be located in the north end of the Las Vegas strip not far from the CircusCircus.


Jeffrey Kaliel, Son of ITEX Superstar Salesman Art Kaliel, Married

In past issues we noted the outstanding success of the San Diego ITEX office and their top-producing salesman Art Kaliel. This past week his 29-year-old son Jeffrey married Debra Cook in New Brunswick, Canada.

Jeffrey is a lawyer with the Department of Homeland Security in Washington, DC. He served in Iraq in 2003 as an Army staff sergeant. A graduate of Amherst, he has a law degree from Yale.

The bride, 29, is a presidential management fellow and project manager for the President’s Emergency Plan for AIDS Relief at the United States Agency for International Development in Washington. She graduated from Amherst and received a master’s degree in public health from Harvard. She served with the Peace Corps in Paraguay from 2001 to 2003.

Millions Of U.S. Entrepreneurs Work From Home

The U.S. Small Business Administration’s Office Of Advocacy reports that more than half of the nation’s 26.8 million small businesses are based at home.


Advertising Pays

Procter & Gamble is spending $7.9 billion, or 9.9% of the company’s $76.5 billion annual sales this year for marketing, according to research by Sanford C. Bernstein & Co.

In-Store Marketing Institute Reports . . .

Marketers are expected to spend $20.4 billion on in-store and point-of-purchase advertising in 2007, reports Veronis Suhler Stevenson, a New York private equity firm specializing in the media industry.

Quote Of The Week:

“A strong positive mental attitude will create more miracles than any wonder drug.”

–Patricia Neal.

This entry was posted on Tuesday, September 18th, 2007 at 4:52 am and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.