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The former downtown Holiday Inn was sold Thursday afternoon for $2.5 million in a sheriff’s sale. But the 208-room hotel’s future remains unclear.
TRB Fort Wayne Inn LLC bought the property at East Washington Boulevard and Lafayette Street, attorney Michael O’Hara said. O’Hara represents the hotel’s lender, BRT Realty Trust, which he called a separate entity.
“They’re related but not the same people,” he said.
Fort Wayne Hospitality LLC, the former owner, defaulted on $3.7 million borrowed from BRT Realty Trust.
O’Hara didn’t know late Thursday whether the Fort Wayne Hotel and Conference Center will continue to operate at the site. But, he said, current guests will not be asked to leave.
The new owners have declined to be identified or talk to the media until they solidify their plans, he said.
Ticketmaster Entertainment Inc. has developed a way to resell tickets that shuts out the brokers and scalpers it has long scorned and instead keeps the profits for itself, musicians and venue owners.
The system relies on Ticketmaster’s “paperless” ticketing platform, which makes customers prove their purchase by showing a credit card and ID when they arrive at an event. Without paper tickets, there’s nothing for scalpers to resell.
Now with its new exchange system, Ticketmaster has come up with a way to let buyers resell a paperless ticket while still cutting out ticket-resale leader StubHub and other brokers.
Coming off its worst year in three decades, the market for initial public offerings is starting to show signs of life.
Eight companies are looking to raise as much as $3.7 billion when they go public next week, the most activity the U.S. IPO market has seen in a single week in nearly two years and a clear sign that Wall Street’s appetite for risk is returning.
Only 43 companies completed IPOs in the U.S. last year, down from 272 the year before and 221 in 2006, according to Renaissance Capital’s IPOHome.com.
Benchmark Radiology LLC in Albion has been acquired by Lansing, Mich.-based Block Imaging International Inc., a global provider of pre-owned and refurbished medical imaging systems, parts and services.
Block Imaging, which did not disclose financial terms of the acquisition, also announced the establishment of a new subsidiary company, Block Imaging Parts & Service Inc.
Block Imaging, which made the announcement late Wednesday afternoon, said in a news release that Benchmark’s “team of experienced service engineers are a natural complement to Block Imaging’s product solutions and will enhance Block’s ability to provide customized service options.”
FedEx Corp. said Thursday it sees signs of improvement in the global economy as international shipments pick up, but it warned that profit will remain weak through this year.
The world’s second-largest package delivery company, a bellwether of economic health, said fiscal 2010 first-quarter earnings fell 53 percent – matching its prediction released last week.
