Word: jersey
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...brewed coca in tea to stave off hunger and exhaustion for centuries - has been prohibited unless the cocaine alkaloid is removed. Few companies in the world have authorization to trade in the leaf and most are pharmaceutical companies that perform this decocainizing process. The most prominent is New Jersey-based Stepan Chemical Company which has been reported to supply Coca-Cola with its narcotic-free derivative. (Read about the anti-Red Bull: a drink that can calm you down...
...sucking crap shoot. Recession and the global credit crisis have turned some bottom lines red, while major new projects have been shelved due to lack of financing and an uncertain business outlook. The latest hard-luck story: MGM Mirage. This week, the Las Vegas-based company disclosed that New Jersey gaming industry regulators object to its Macau joint venture partner, raising the possibility that MGM Mirage could pull out of the market. (Watch a video about Macau's gambling boom...
...casino in 2007 in partnership with Pansy Ho, daughter of tycoon Stanley Ho, who held a monopoly on gaming in Macau for four decades and continues to operate casinos in the city today. In a filing with the U.S. Securities and Exchange Commission, MGM Mirage said that the New Jersey Division of Gaming Enforcement had deemed Pansy Ho an "unsuitable" partner after a four-year investigation. The agency recommended that MGM Mirage "be directed to disengage" itself from the joint venture. Company officials didn't reveal the reasons why regulators disapproved of Ho, and the report itself is confidential...
...results of the investigation have thrown the future of MGM Mirage's Macau business into confusion. Although the report is only a recommendation, New Jersey's Casino Control Commission could order the company to end the partnership if its findings are upheld. New Jersey gaming authorities have jurisdiction over MGM Mirage's business associations because the company owns part of a casino in Atlantic City. (Read about greyhound racing in Macau...
...Vegas - said that "we disagree with the recommendation" and "we look forward to presenting our position." Pansy Ho in a statement said that "I and my advisers will need time to read and consider the contents of the report and decide how best to respond to it." The New Jersey commission is expected to hold a public hearing on the matter...