for Mohegan Tribe
A U.S. Army veteran was elected chairman of the Mohegan Tribal Council that oversees the nearly 2,000-member tribe and its multibillion-dollar casino gambling enterprise in Connecticut and Pennsylvania.
Kevin Brown, who retired from the Army as a colonel in 2011 after 24 years, took an oath of office as a council member Monday and was elected chairman by the nine-member body. He succeeds Bruce “Two Dogs” Bozsum.
Tribal members elected Brown to the council in August.
Brown, 48, said he sees no new gambling projects beyond those already planned. In addition to the Mohegan Sun Casino in Connecticut, the tribe’s Mohegan Tribal Gaming Authority operates Mohegan Sun at Pocono Downs in Plains Township and manages Resorts Casino Hotel in Atlantic City.
Pact could come
from APEC group
The U.S. and 11 other nations negotiating an Asia-Pacific free trade pact said Tuesday they are on track to agree a comprehensive deal before the year’s end.
A statement by the 12 leaders after an Asia-Pacific Economic Cooperation summit in Bali said they made “significant progress” in setting standards for trade in goods and services, and for investment and public procurement.
It said they agreed “to resolve all outstanding issues with the objective of completing this year a comprehensive and balanced, regional agreement.”
The initiative, known as the Trans-Pacific Partnership, was launched at the 2011 APEC in Honolulu as part of President Barack Obama’s shift to a closer focus on Asia.
U.S. Trade Representative Michael Froman said a deal is in reach but its quality shouldn’t be sacrificed to meet a deadline.
to stay liquid
Shares of J.C. Penney Co. got a boost Tuesday after the struggling department store chain said that a key sales barometer improved in September from August and it expects that it will have ample liquidity at year end.
Penney, based in Plano, Texas, said that revenue at stores opened at least a year fell 4 percent in September from a year ago, but that was a 5.8 percentage point improvement from August.
The retailer also said that its online sales continue to strengthen. Online sales rose 25.3 percent last month compared with a year ago. That follows a 10.8 percent gain in August. For the third quarter-to-date, online sales are up 18.6 percent.
Penney said that it expects to see improving sales trends for the remainder of the year.