MINNEAPOLIS—Richard Schulze, the founder of consumer electronics giant Best Buy, failed to make a bid by yesterday's deadline to secure control of the locally-based company.

CHICAGO-Loews Corp. broke ground today on its new 400-room Loews Chicago Hotel that is being built as part of a 52-story mixed-use tower.

BALTIMORE-The city of Baltimore will have to siphon $1 million from its general fund to help the city-owned Baltimore Hilton make debt payments this year.

PHILADELPHIA-CommonWealth REIT, which owns the BNY Mellon Center and One Franklin Plaza here, is facing some shareholder discord and could face a battle for control of the company.

WATCHUNG, NJ-The Children's Place plans to open a new location at the Blue Star Shopping Center this spring.

BOGOTA, NJ-The borough of Bogota is expected to clear the way for a developer to transform a former elementary school on Palisade Avenue here into a multifamily development.

MELVILLE, NY-Dow Hotel Company held a grand reopening on Thursday to showcase its $16-million makeover of its Hilton Long Island/Huntington hotel here.

ELLENVILLE, NY – Walmart has acquired the Napanoch Valley Mall in the Ulster County hamlet of Napanoch for $5 million adjacent to its new store currently under construction.