FINANCE

MGM may sell parts of CityCenter project

BY Staff Writer

Las Vegas — MGM Resorts International CEO Jim Murren said Wednesday that the company is considering selling parts of its $8.5 billion CityCenter project on the Las Vegas Strip, including the Crystals Mall.

The sell-off would be a move to reduce CityCenter’s $1.85 billion in debt, which has been paid down from $2.5 billion last year.

CityCenter also houses the 4,000 Arai hotel casino which, said Mullen, is not part of any potential sale.

While there are no negotiations under way, Murren told the Associated Press that the 500,000-sq.-ft. luxury mall Crystals, which features such tenants as Gucci, Prada and Tiffany, is especially enticing to investors.

MGM owns CityCenter in a 50-50 partnership with Dubai World, the investment arm of Dubai’s government.

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OPERATIONS

Foot Locker names Build-A-Bear Workshop chief to board

BY Katherine Boccaccio

New York — Foot Locker announced Wednesday that it has appointed Maxine Clarke, founder and CEO of Build-A-Bear Workshop, as a member of its board of directors. Clark recently announced that she will step down from her executive position at the toy-making chain as soon as a successor is found.

Clark has also served as president of Payless ShoeSource, and spent 19 years as an executive with May Department Stores Co.

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News

Build-A-Bear CEO joins Foot Locker board

BY CSA STAFF

NEW YORK — Build-A-Bear CEO Maxine Clark has joined the Foot Locker board of directors.

Clark founded Build-A-Bear Workshop in 1997. She has extensive experience in the retail industry, having also served as president of Payless ShoeSource Inc. and for 19 years as an executive of The May Department Stores Company.

"Maxine Clark has a depth of experience in both domestic and international retailing, and she is well-known for her innovative approach to the industry," said Ken Hicks, hairman of the board and CEO of Foot Locker Inc. "We are pleased to be adding an individual with her talent and expertise to complement our already strong board of directors."

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