Revel employees remove letters from a sign at Revel hotel-casino in Atlantic City, N.J. (AP Photo/The Press of Atlantic City, Michael Ein)
Atlantic City's Revel Casino Hotel was envisioned as a playground for Wall Streeters who hated flying to Las Vegas. Instead, it's become a money pit for the banks and money managers who spearheaded the New Jersey project, and the losses will keep coming even after its closure. The resort fell prey to poor timing, bad design and a misreading of the local market. [Full Story]
Related Stories
Wells Capital's Paulsen: Stocks Poised to Drop 15%
The S&P 500 gained 3.8 percent in August, its best performance for that month in 14 years. The index hit a record high of 2,005.04 last Tuesday and stood at 2,002 Monday morning.... [Full Story]
Home Depot Inc. fell as much as 3.4 percent in New York trading after [Full Story]
Credit Suisse Group AG suspended a trader on its European equities sales [Full Story]
Dominion Resources, Duke Energy and other partners are proposing a $5 [Full Story]
Oaktree Capital Group, the world's biggest distressed-debt investor, is [Full Story]
Cargill agreed to acquire Archer-Daniels-Midland's chocolate business for [Full Story]
U.S. manufacturing activity increased to its highest level innearly 3-1/2 [Full Story]
Last week, with summer coming to an end, I asked readers of this column [Full Story]
What will Warren Buffett do with his record $55 billion pile of cash? By [Full Story]
U.S. manufacturing activity increased to its highest level innearly 3-1/2 years in August and construction spending rebounded strongly in July, in further signs of vigor in the economy. [Full Story]
Dollar General is boosting its bid for rival Family Dollar to approximately $9.1 billion and says it's now willing to more than double the number of stores it would shed to avoid trouble with regulators. [Full Story]
Foreign companies in China feel increasingly targeted for unfair enforcement of anti-monopoly and other laws and might cut investment if conditions fail to improve, a U.S. business group said Tuesday.The American Chamber of Commerce in China's report adds to mounting... [Full Story]
Charles Biderman, chairman of TrimTabs Investment Research, has a bifurcated view of the stock market. [Full Story]
US home price gains slowed to 7.4 percent in July as more homes were listed for sale [Full Story]

Market Watch
Company Name or Symbol: 

Click Here for Pre-Market Data

Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Insiders
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus



Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved