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"This was a sophisticated and lucrative operation with a multitiered management structure," Mr. Spitzer said at the time.
The new chairman is a local businessman, brought in to make the club a more financially lucrative operation.
"This was a sophisticated and lucrative operation with a multitiered management structure," the state attorney general, Eliot Spitzer, who oversees the task force, said in a statement.
And last week, Park Place made overtures about a takeover to the developers of a potentially far more lucrative operation, a $500 million Mohawk casino in the Catskills.
For many of the buildings' landlords, it was an easy way to turn a run-down house into a fairly lucrative operation — tenants were charged hundreds of dollars each month for little more than a mattress.
But as Eliot now knows, you haven't been humbled until you get linked to high-priced prositutes when you once spoke these words with revulsion about a New York prostitution ring: "This was a sophisticated and lucrative operation with a multitiered management structure.
Similar(50)
Through its own series of mergers, NYSE Euronext has moved away from stock listings, adding on more lucrative operations like futures, options and derivatives trading.
In 2006, they joined their investment banking and asset management operations, hoping the combination would allow them to build these more lucrative operations.
On taking that job in October, he quickly sold more than $22 billion of BP assets to help pay claims and cleanup costs and to focus on the company's most lucrative operations.
The plan, policy makers said on Friday, would effectively require bank holding companies — which Goldman and Morgan became at the height of the financial crisis — to divest themselves of these lucrative operations.
According to one Mohawk executive, the chiefs were hoping that a company as large as Park Place could solve the problems at its small, money-losing casino in Hogansburg and assure lucrative operations elsewhere.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com