Gander Mountain store closes in Niles
Gander Mountain store closes in Niles
NILES
The Gander Mountain outdoor retailer in Niles has been liquidating merchandise since May when its parent company was acquired by Camping World. On Monday, the doors to the store were closed, much to the surprise of the building’s owner, The Cafaro Co.
Joe Bell, company spokesman, said Cafaro was under the impression Camping World would close the Niles store and reopen it under a new name. Bell said Monday’s development at the store was “highly unusual.”
Bell said more information would be available concerning the store’s future once the Cafaro Co. received word from Camping World regarding its intentions.
Expedia confirms CEO’s job offer
DETROIT
Expedia is confirming that CEO Dara Khosrowshahi has been offered the top job at ride-hailing company Uber. Barry Diller, board chairman of the travel booking site, says in a note to employees Monday that he believes Khosrowshahi intends to take the new post.
Gilead to pay $11.9B for cancer treatment developer Kite
NEW YORK
Gilead Sciences will pay $11.9 billion in cash to buy Kite Pharma and plant a stake in an emerging area of cancer treatments that train a patient’s immune cells to attack tumors. Kite’s portfolio of potential treatments includes one for the blood cancer lymphoma that could receive U.S. regulatory approval later this year.
Suit: Aetna violated law with envelope revealing HIV status
PHILADELPHIA
A Pennsylvania man is suing health insurer Aetna, saying his sister learned he was taking HIV medication after the company mailed him an envelope with a large, clear window that showed information on where to purchase the drugs.
The lawsuit filed Monday in U.S. District Court in Philadelphia is seeking class-action status. Last week, the Hartford, Conn.-based company said it was reviewing processes to ensure such a mistake never happens again.
Fragrance chain Perfumania files for bankruptcy
BELLPORT, N.Y.
Fragrance seller Perfumania has filed for bankruptcy protection and plans to close 65 of its 230 stores as it focuses more on selling online. The mall-based retailer plans to offer investors $2 per share as it converts to a private company. The stock surged more than 40 percent Monday to close at $1.87.
California seeks to boost electric-car rebate program
SACRAMENTO, Calif.
California could spend up to $3 billion under a bill that would widely expand its consumer-rebate program for zero-emission vehicles. The legislature is pushing forward a bill that could lift rebates from $2,500 to $10,000 or more for a compact electric car. Current rebates have done little to boost sales.
Staff/wire reports
Selected local stocks
STOCK, DIVIDENDCLOSECHANGE
Alcoa Inc., .1242.120.92
Aqua America, .71 33.88-0.12
Avalon Holdings,1.92-0.04
Chemical Bank, .2745.89-0.38
Community Health Sys. 7.80 0.22
Cortland Bancorp, .2817.750.00
Farmers Nat., .1613.40-0.05
First Energy, 1.44 32.780.10
Fifth/Third, .5226.58-0.09
FirstMerit Corp.,--First Niles Financial, .1210.520.00
FNB Corp., .4812.86-0.08
General Motors, 1.5235.51-0.09
General Electric, .9224.47-0.03
Huntington Bank, .28 12.72-0.04
iHeartMedia Inc.,1.40-0.05
JP Morgan Chase, 1.9291.60-0.29
Key Corp, .3417.40-0.19
LaFarge, .34--Macy’s, 1.51 21.150.03
Parker Hannifin, 2.52 158.391.09
PNC, 2.20127.58-0.30
Simon Prop. Grp., 6.60156.80-2.24
Stoneridge 16.320.15
United Comm. Fin., .12 9.100.00
Selected prices from Monday’s 4 p.m. close.