In brief: Red Lion’s mall sale fetches $11.6 million
Red Lion Hotels, of Spokane, has sold its last nonhotel property, the Kalispell Center Mall in Kalispell, Mont.
The company said WSPGB Mall, LLC bought the mall for $11.6 million. WSPGB is an affiliate of Woodbury Strategic Partners, of Salt Lake City, and Spokane-based Goodale & Barbieri Co., which manages the mall.
Red Lion signed a long-term lease to operate the Red Lion Hotel Kalispell that’s attached to the mall, the hospitality company said in a news release.
Kalispell “has been, and will continue to be, important to Red Lion for many years,” president and CEO Jon Eliassen said in the release.
The mall and hotel were built in 1986.
‘Boston Massacre’ shirts no longer sold on eBay
NEW YORK – EBay has confirmed that it pulled a Nike T-shirt with the words “Boston Massacre” printed on it from its online marketplace.
Nike Inc. has already pulled the T-shirts from the market.
EBay Inc. spokeswoman Johnna Hoff said in an email Thursday that the shirt was in violation of the company’s offensive materials policy. This bans items that promote hatred, violence, portray graphic violence or victims of violence, among other things.
The “Boston Massacre” phrase has been used to describe a pivotal late-season sweep by the New York Yankees of the rival Boston Red Sox in 1978.
EU panel deems Xeljanz too risky for drug market
NEW YORK – Pfizer Inc. said Thursday that the European Union’s committee of medical experts has rejected the company’s drug Xeljanz for patients with rheumatoid arthritis.
The European Medicines Agency committee recommended against approving the drug because its benefits did not sufficiently outweigh its risks, Pfizer said in a statement.
The New York-based drugmaker said it would appeal the decision.
According to Pfizer, the regulators did not believe the drug consistently controlled the disease or reduced joint damage. The company also said the committee raised concerns about infections, holes in the intestines and tumors seen in patients.
Starbucks up 7 percent despite frugal outlook
NEW YORK – Americans may not feel optimistic about the economy but they’re still spending more at Starbucks.
The world’s biggest coffee chain said Thursday that its profit rose in its fiscal second quarter as a key sales figure climbed in the U.S., its biggest market. New drinks and food, such as its sandwiches and pre-packaged lunch boxes, helped lift sales.
A 7 percent sales bump at U.S. cafes open at least 13 months came despite the broader industry’s struggles to grow when other fast-food companies say people are being more careful with money.