News

Art goes to the mall

With his shoes barely visible beneath an oversized, paint-splattered t-shirt, 6-year- old Nicholas Patterson is focused on nothing but his paintbrush, which he moves about in sweeps and dabs.

"Abstract painting is my favorite," he says. "You get a lot of money if you sell them."

About 20 feet away, swarms of shoppers race by toting armfuls of new purchases. Read more...

Simon Readies New Bid for GGP

Mall giant Simon Property Group Inc. is readying a sweetened takeover bid for bankrupt rival General Growth Properties Inc. that would top an offer on the table from several General Growth investors.

Simon sent a letter Monday night to General Growth's lawyers saying it expects to deliver its improved proposal late this week or early next. Simon didn't outline details of its offer, which are still in flux, according to people familiar with the matter. Read more...

Business students start MHS store

Nine budding entrepreneurs are proving that you are never too young to start learning to earn.

Several Martinsville High School students are learning about entrepreneurship by creating their own business, complete with shareholders, customers and — hopefully — a profit.

“I love the sense of knowing that we run our own business,” said senior Rodney Johns. Read more...

Loan Squeeze Thwarts Small-Business Revival

Ypsilanti, MI — Thomas Harrison, chief executive of Michigan Ladder Co., has a plan that would contribute to the U.S. economic recovery: Expand the 108-year-old company, adding at least 20 jobs in the process. His chances of getting the loan of $300,000 or more he needs to do so, though, depend in part on what happens to folks like home builder James Haeussler. Read more...

The Best Tax Breaks for Small Business

It's tax crunch time again. From March 15, when some corporations file, to the April 15 deadline for individuals, small-business owners are busily organizing their receipts and books—and looking for as many tax breaks as possible. Read more...

NH moving ahead with e-cigarette ban for youth

Concord, NH—Electronic cigarettes are readily available at mall kiosks and the Internet, come in flavors like tobacco, strawberry, chocolate and vanilla, and replace smoking with "vaping."

And though they deliver a dose of nicotine steam, they can still be legally sold to and used by minors.

Mara Zrzavy, a 16-year-old ConVal Regional High School student from Peterborough, thinks that's just wrong, and worries kids her age will view e-cigarettes as cool and become addicted to the nicotine. After they're hooked, some will switch to regular cigarettes, which are cheaper, she said. Read more...

Tenant turnover leads to some big changes at Ventura's Pacific View

In place of several retailers once found at Pacific View mall in Ventura, patrons will find expansive gray walls — and sometimes, the promise of new stores coming soon.

“I’ll walk by something and then I’ll stop and say to a friend, ‘Hey, wasn’t that a shoe place or something?’ ” said José Ramirez of Oxnard.

Owned by Macerich Co. of Santa Monica, the 1 million-square-foot mall — the largest taxpaying entity in Ventura — has suffered its share of store closures this past year. They include Whitehall Jewelers, Ritz Camera, Crescent Jewelers, Fred Meyer Jewelers, John T’s Unique Gifts, Chico’s, the Thomas Kinkade Store and most recently, Van Gundy Jewelers, Benjamin Jewelers and Abercrombie and Fitch. Read more...

Retail Pricing Power Seems to Be on Mend

After a 2009 marked by heavy discounting and inventory liquidation, some retailers are starting to get their swagger—and pricing power—back.

On Friday, the Commerce Department is expected to say retail sales dipped slightly in February after a strong January increase, held back in part by unusually cold and snowy conditions last month. Yet sales are still likely to be up about 3% from a year ago, in contrast with the double-digit declines seen in the depths of the recession. Read more...

SPREE 2010 Offers Exciting Social Events and Discount Theater Tickets for Attendees

Hanover, Mass. – The 2010 Specialty Retail Entrepreneur Expo & Conference (SPREE) announces a full slate of social events for show attendees. SPREE will be hosting two evenings of free festivities and has secured discounted tickets to the popular Broadway show, Disney’s The Lion King playing at the Mandalay Bay Theater. Read more...

City Place Mall plan aims for the sky

When Walt Petrie bought out his development partners two years ago to become the sole owner of City Place Mall in Silver Spring, he had a vision to revive the 27-year-old mall, which suffered from vacant or temporarily leased storefronts and dwindling shoppers.

As part of that vision, a 210,000-square-foot, nine story office tower would finally be built on top of the mall, after years of delay. A prominent new façade on the corner of Fenton Street and Colesville Road would welcome shoppers inside, an upgrade over the drab, concealed façade that currently goes unnoticed by the thousands of rush-hour drivers that crawl past it. Read more...