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Frits Van Paasschen, President & CEO of Starwood Hotels & Resorts Worldwide discusses hotel expansion in China, the Middle East and Emerging Markets.
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Melco PBL Entertainment started trading on the Nasdaq today. The gambling company--based in Hong Kong--has generated $1.14 billion dollars so far, and it priced at $19, above its opening range. Co-Chairmen Lawrence Ho and James Packer said on “Squawk on the Street” that with only six operating licenses available in the Chinese territory of Macau...
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Delta Air Lines is forecasting a return to profitability next year, and again rejecting U.S. Airways' hostile overtures. The company's top executives have been hosting a webcast this morning--and CNBC’s Phi LeBeau has been monitoring details as they unfold...
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It looks like Harrah's the world's largest casino company is going private. Late word has the gaming company selling to private equity buyers for almost $17 billion, a $90 per share buyout. On today’s “Street Signs” Erin Burrnett spoke with David Katz of CIBC World Markets about the impact of the deal and other companies might be looking for deals of their own.
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It's estimated that some 99% of businesses in the U.S. are small businesses. A small business is defined as a company that makes under $25 million in revenues a year--and are NOT investment firms. So--what makes a small business work? How do you even get started? CNBC's Danny Deutsch was on "Power Lunch" to discuss tonight's program--"The Big Idea"--which focuses on 5 small companies....
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The private equity surge continues. About $60 billion in mergers and acquisitions deals just in the U.S. have been announced this morning. Apollo Management alone is involved in two of the four deals. The only buyout not involving a PE firm was an aggressive bid by Express Scripts for Caremark Rx – which was already entertaining a bid from CVS. CNBC’s Melissa Lee reported the story on “Squawk on the Street.”
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A homeless father finds hope and help on Wall Street--it's the subject of a new movie starring Will Smith. But what makes this story really interesting-it's true. CNBC's Michele Caruso-Cabrera had the details on "Morning Call." The film is called "The Pursuit of Happyness." It's the early 1980's and Will Smith's character-Chris Gardner--is down on his luck and losing everything. He's made some bad business choices.
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Did you get a good deal on airlines tickets this holiday season? If so--it might not be that way next year. Many are predicting airline consolidation could send ticket prices soaring. Peter Cohan is president of Peter S. Cohan and Associates. He believes consolidation will mean higher prices. Tom Parsons is ceo of Bestfares.com. He thinks the opposite--that there's still enough competition....
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Cruising is the fastest growing sector of travel--with more than 11 million people boarding vessels each year. The ships have become more luxurious--and getting there is now half the fun for many. Mark Orwoll is Senior Consulting Editor at Travel and Leisure Magazine. He was on "Power Lunch" to talk about the best in special interest cruising.
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It's been a rough week for shares of Harley Davidson - the stock is down nearly 4%. But over the last 6 months the shares have been riding high on the hog, so to speak, up close to 40%. On "Squawk on the Street," CNBC’s Melissa Lee attempted to determine if Harley Davidson was at a crossroads.
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Two private equity firms--Texas Pacific and Silver Lake Partners--have gobbled up Sabre Holdings in a $5 billion dollar deal. The transaction is expected to close in the second quarter of next year. It is yet another feather in the cap of Texas Pacific--which has become on the biggest and most active players in the entire private equity world.
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NBA commissioner David Stern has decided to go back to the old leather basketball model after just a couple months of using Spalding’s new micro fiber composite ball. The players complained about getting cuts and the how the ball was more slippery, with the union even filing a grievance.
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Travel-booking company Sabre Holdings is close to being sold to a group of private equity investors for more than $4 billion, The New York Times reported.
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Making the Cutt?: Dallas Cowboys wide receiver Terrell Owens had to worry about what he was wearing on his hands this past weekend in his team’s game against the New York Giants. That’s because uniform inspectors received a memo earlier in the week from league officials that said Owens and two Arizona Cardinals players --Larry Fitzgerald and Leonard Davis --were subject to game removal because of repeatedly using gloves that did not pass the NFL standards. ... and more SportsBiz News ...
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You don’t have to be Donald Trump to know that the New York City hotel market is a good investment, but it wasn’t until a visit to a stunning, new-ish property this week that I really and truly got the message.
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Airline stocks are climbing higher on a holiday travel tailwind. According to the Dow Jones U.S. Airlines Index over the past month--they’re up 9% and more than 17% year to date. How much higher can they go? On "Squawk on the Street", CNBC’s Mark Haines asked David Strine--Airline Analyst with Bear Sterns.
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Gaming is one of the best-performing sectors recently. Investors, Wall Street and private equity are all eyeing these – supposedly – recession-proof stocks. The constant cash flow is pretty attractive, too. But what’s interesting is that casinos stocks seem to be on the rise despite some less than stellar earnings.
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Many people laughed at me last week when we did the business of Tony Romo. Too early to talk about a guy who was 4 and 1 as a starter for the Dallas Cowboys. Well, with a victory over the Giants on Sunday, the legend of Romo grows. And we were talking about it before anyone. Romo signed his first major marketing deal with GT Sports Marketing.
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Private equity is always looking for that major return on investment. The latest play: ski resorts. Large real estate holdings, a dedicated user base and free cash flow – all equal great opportunities for buyout firms. The latest potential target is Vail Resorts of Colorado. It hit an all-time high today of $45.66, closing up $1.68, or 3.8% – on talk of a buyout.
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Give me an F! Give me an O!--give me another O! Wait--let's stop there--it'll take too long to spell football this way--but we gave it the old college try. Speaking of college football--as we now are--some pretty important decisions are coming up this Sunday on just who will play in the 5 major bowl games.
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Ruth's Chris Steak House became Ruth's Chris Steak House--after Ruth Fertal bought Chris Steak House in New Orleans, Louisiana. That was in 1965 and she paid $22,000 for the restaurant (she combined the names). Now--the high end eatery has 100 locations around the world. And it seems the steak business is sizzling. The stock was up about 2 percent today.
Road Warrior
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American is raising airport lounge prices as more carriers revamp lounges to meet fliers' demands.
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American debuted a new livery drawing that is drawing both praise and criticism.
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Welcome Colonel Sanders. Japan Airlines is rolling out KFC meals on flights to the U.S. and Europe.