Verizon revises Yahoo deal
Verizon plans to pay $4.5 billion for Yahoo, $350 million less than it offered before two security breaches compromised more than 1 billion Yahoo users’ accounts. The cash deal is expected to close in the second quarter.
Protection money
article continues below advertisement The NYPD spent $24 million to protect President Donald Trump and his family and to guard his Fifth Avenue tower for the 10 weeks before Inauguration Day. An initial projection was $35 million. It costs $127,000 to $146,000 a day to protect first lady Melania and son Barron, and $308,000 a day when the president returns to the city.
Bridge blowup
The governor said parts of the 78-year-old Kosciuszko Bridge will be demolished this summer to speed up the construction of its replacement by seven to nine months.
Data point For the first time since 2009, annual subway ridership declined. Last year there
were 1.76 billion subway trips, down 6 million from the
previous year.
The new two-span bridge will be completed in 2020. The first span will open in April.
Protecting children
David Hansell was named commissioner of the city’s Administration for Children’s Services, an agency under investigation by an independent monitor for mishandling cases resulting in the death of children.
Senior City-zens
Washington, D.C.–based AARP the Magazine plans to open an office in the city. The publication has a paid circulation of 22.5 million.
Makeup makeover
Ten million Amazon boxes will feature the Revlon slogan #LoveIn3Words to help the cosmetics company appeal to millennials. Lady Gaga will showcase Revlon in a music video as part of its first marketing blitz since acquiring Elizabeth Arden last year. Revlon aims to boost annual sales by $2 billion.
Guitar hero
Mandolin Brothers will become an online shop under a new unidentified owner. The 45-year-old Staten Island store frequented by Bruce Springsteen, Bob Dylan and other legends had been searching for a buyer since 2015, after its founder died and the shop was taken over by his wife and two kids.
Eleven Madison Parked
Three-star Michelin-rated restaurant Eleven Madison Park will close for the summer June 9 for a renovation of the 20-year old eatery and a redo of its menu. “It was time for a change,” chef Daniel Humm said.
Shrinking insurer
In an effort to jettison $1.6 billion in costs by the end of this year, AIG reduced its headcount by 15% to 56,400 as of Dec. 31.
Hate crimes spike
The NYPD attributed a 42% increase in hate crime complaints for the 100-day period ending Feb. 19 to biases that emerged since the election of President Trump.
Folding up its tent
Ringling Bros. Circus kicked off its final performances in the city. The 146-year-old show said it would shutter due to high operating costs and declining ticket sales. It will perform at Barclays Center through the end of this week.
Verizon revises Yahoo deal
Verizon plans to pay $4.5 billion for Yahoo, $350 million less than it offered before two security breaches compromised more than 1 billion Yahoo users’ accounts. The cash deal is expected to close in the second quarter.
Protection money
article continues below advertisement The NYPD spent $24 million to protect President Donald Trump and his family and to guard his Fifth Avenue tower for the 10 weeks before Inauguration Day. An initial projection was $35 million. It costs $127,000 to $146,000 a day to protect first lady Melania and son Barron, and $308,000 a day when the president returns to the city.
Bridge blowup
The governor said parts of the 78-year-old Kosciuszko Bridge will be demolished this summer to speed up the construction of its replacement by seven to nine months.
The new two-span bridge will be completed in 2020. The first span will open in April.
Protecting children
David Hansell was named commissioner of the city’s Administration for Children’s Services, an agency under investigation by an independent monitor for mishandling cases resulting in the death of children.
Senior City-zens
Washington, D.C.–based AARP the Magazine plans to open an office in the city. The publication has a paid circulation of 22.5 million.
Makeup makeover
Ten million Amazon boxes will feature the Revlon slogan #LoveIn3Words to help the cosmetics company appeal to millennials. Lady Gaga will showcase Revlon in a music video as part of its first marketing blitz since acquiring Elizabeth Arden last year. Revlon aims to boost annual sales by $2 billion.
Guitar hero
Mandolin Brothers will become an online shop under a new unidentified owner. The 45-year-old Staten Island store frequented by Bruce Springsteen, Bob Dylan and other legends had been searching for a buyer since 2015, after its founder died and the shop was taken over by his wife and two kids.
Eleven Madison Parked
Three-star Michelin-rated restaurant Eleven Madison Park will close for the summer June 9 for a renovation of the 20-year old eatery and a redo of its menu. “It was time for a change,” chef Daniel Humm said.
Shrinking insurer
In an effort to jettison $1.6 billion in costs by the end of this year, AIG reduced its headcount by 15% to 56,400 as of Dec. 31.
Hate crimes spike
The NYPD attributed a 42% increase in hate crime complaints for the 100-day period ending Feb. 19 to biases that emerged since the election of President Trump.
Folding up its tent
Ringling Bros. Circus kicked off its final performances in the city. The 146-year-old show said it would shutter due to high operating costs and declining ticket sales. It will perform at Barclays Center through the end of this week.
A version of this article appears in the February 27, 2017, print issue of Crain’s New York Business.
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