With its stock price plunging more than 60 percent in the past year, its print advertising sales collapsing, and a reported $1 billion in debt, The New York Times Co. is urgently trying to raise $225 million by offering a sale-leaseback deal on its new 52-story headquarters building in midtown Manhattan. The move to sell a portion of its gleaming new skyscraper, designed by architect Renzo Piano, is the lat ...

Iowa recently announced that IBM will open a new technology service delivery center in Dubuque, IA. It is expected that the $100-million project will create up to 1,300 high-quality jobs. IBM has signed a 10-year lease, with optional extension years, to occupy a historic building in downtown Dubuque. The City of Dubuque, Dubuque Initiatives and IBM plan to upgrade the facility to make it a “green” building. ...

The people who brought us the Great Bank Robbery of 2008 are back at work, and this time they're doing something for which they are uniquely qualified: shoveling tons of pork back to the folks in their home districts. An armada of Brinks trucks, their engines still hot from a breakneck midnight run to deliver $350 billion in ''bailout'' funds to the nation's banks, are being reloaded with cash at the U.S. T ...

The Pennsylvania Industrial Development Authority has approved two low-interest loans totaling $1.36 million to fund Philadelphia-area projects, the Pennsylvania Department of Community and Economic Development said Wednesday. The PIDC Financing Corp. will receive a $680,000 loan to acquire and renovate an existing facility on East Hunting Park Avenue in Philadelphia. The site contains eight buildings total ...

Kuwait's government decided on December 28 to cancel a $17.4 billion joint venture with U.S. petrochemical giant Dow Chemical. The venture, known as K-Dow, was announced with great fanfare in July as the crown jewel of economic development initiatives in Michigan. Michigan, already home to Dow Chemical's headquarters in Midland, had been slated to become the home as well to the new K-Dow Petrochemicals, a p ...

A new year is always a good time for resolutions. Here's a few we'd like to see in 2009: -- Anyone who has borrowed money from Citigroup, GMAC or the two dozen other bankrupt financial entities that have been bailed out with federal funds can deduct the balance of their monthly loan payments from their income tax. -- Bernie must spell his last name phonetically, which would make it Made-off, as in ''made of ...

ABMyr Industries recently announced it is expanding its Belleville, MI operation, which will create 38 new jobs by 2011. The family-owned company invested more than $2 million to build and equip a 50,000-square-foot metal fabrication, prototyping and production center within its current facility. ABMyr Industries’ new services utilize a state-of-the-art Mitsubishi Laser Cutter, which produces computer-preci ...

As the U.S. retail industry suffers some of the most severe sales declines in history, stores are taking drastic measures to help boost some last-minute holiday sales. An article in The Wall Street Journal highlights an all-hours free-for-all in New York City's retail mecca, Times Square. Toys "R" Us opened as normal on Friday, December 19th, but it will not close until 8pm on Christmas Eve—a run of 134 con ...

Coca-Cola Enterprises announced yesterday it will locate its new Information Technology Development Center in Louisville, KY. The company intends to recruit from the local collegiate base for the new IT and Business Information Services (BIS) Development Center. The project is expected to create approximately 35 new full-time jobs in the community. The BIS Development Center of Louisville will be an extensi ...

eBay Inc. and the Utah Governor’s Office of Economic Development (GOED) just announced the closing of a land sale in South Jordan City Utah where eBay will develop its first next-generation data center.  The data center will include new technologies and services that will enable eBay to deliver improved capabilities to its hundreds of millions of active users across its many web sites. The new facility will ...