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Business Insights From Conway MacKenzie
September 9, 2014

No Dice: Atlantic City Trump Casinos File for Chapter 11

Another day, another Atlantic City casino Chapter 11 filing. Today Trump Entertainment Resorts, which operates Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, filed for bankruptcy in Delaware, case number 14-12103. This filing follows the closing of two other iconic Atlantic City casinos, the Showboat and Revel Casino Hotel, over Labor Day […]

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September 8, 2014

Fewer Bankruptcies, Fewer Defaults…For Now

According to Epiq Systems’ monthly bankruptcy update, there were 357 Chapter 11 business filings in August 2014. That’s a 41 percent decline from last August when there were 604 filings. On a year to date basis, there have been a total of 3,722 Chapter 11 business filings in 2014, compared to 4,599 over the same […]

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September 4, 2014

U.S. Auto Sales Surge in August 

The auto recalls over the past few months barely made a scratch in sales, it seems. Despite numerous recalls for car manufacturers, automakers sold 1.6 million vehicles in the U.S. in August – up 3 percent from the same period last year. In fact, sales this past August surpassed sales from last year, even though […]

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September 2, 2014

Atlantic City’s Revel Casino Shuts Down After 2 Years

Sometimes high hopes are not enough. After just two years, the $2.4B Revel Casino Hotel shut its doors this morning. The casino’s closure is a huge hit to the Atlantic City gaming industry, and calls for a focus on the future of New Jersey’s gaming industry as a whole. With its loss of Revel, Atlantic […]

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August 26, 2014

Procter & Gamble to Shed Brands in Order to Boost Profits

Procter & Gamble recently announced that it will shed up to 100 of its brands, focusing on its top 70 to 80 brands that account for 95 percent of its profit. According to CEO A.G. Lafley “If it’s not a core brand – I don’t care whether it’s a $2 billion brand, it will be divested. […]

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