VIP sells auto parts business to O'Reilly

December 18, 2012 in Articles

Publication: MaineBiz

The Lewiston-based auto service chain VIP is selling its automotive parts business to O'Reilly Automotive Inc.

The sale will convert all 56 VIP stores to O'Reilly stores in a new partnership where VIP maintains its tire and service business out of those locations, according to VIP Marketing Manager Jason Terry.

O'Reilly, one of the country's largest specialty retailers of specialty auto parts, will add more inventory to the parts business that VIP has operated since first opening in Lewiston in 1976.

John Quirk, VIP's president and CEO, said in a press release that the move allows VIP to focus on a growing tire and service business.

Terry said that a majority of the current VIP employees will become O'Reilly employees except for those currently in the company's tire and service business.

VIP has stores in Maine, New Hampshire and Massachusetts. As of September, the Springfield, Mo.-based O'Reilly operated 3,896 stores in 39 states.


Market Basket’s First Maine Supermarket will Create Up to 600 Jobs in Biddeford

December 12, 2012 in Articles

Author: Dina Mendros
Publication: Journal Tribune

BIDDEFORD, Maine — Market Basket supermarkets, with stores in New Hampshire and Massachusetts, is popular among many Mainers in the southern part of the state, who travel regularly across the border in search of lower grocery prices.

Soon, traveling out of state will no longer be necessary.

According to a city official, Market Basket will open its first Maine store next year in Biddeford. Economic Development Director Daniel Stevenson said a store representative, who didn’t wish to be named, told him the store will open in the summer or early fall of 2013.

 


Portland planners show cautious support for massive Bayside project

November 29, 2012 in Articles

Author: William Hall
Publication: The Portland Forecaster
PORTLAND — The Planning Board took its first look Tuesday at a proposed housing and retail complex that would transform the Portland skyline.

A rendering of the proposed Maritime Landing development, which would include a mix of housing, parking and retail space on the site of former rail and scrap yards along Somerset Street in Portland's Bayside neighborhood.

It also discussed plans to renovate a downtown building for use as a charter school.

Tuesday's workshop did not require the board to take any action on the proposed Maritime Landing complex, which call for building seven towers, up to 12 stories tall, on 3.24 acres of city-owned property along Somerset Street in the Bayside neighborhood.

Falmouth places size limit on Route 1 businesses

November 27, 2012 in Articles

Author: Matt Byrne
Publication: Portland Press Herald
FALMOUTH — The Falmouth Town Council has voted unanimously to limit the size of new stores to 50,000 square feet on a one-mile stretch of Route 1.

An aerial view of the Falmouth business district along Route 1. A new zoning law limits the size of ground-floor businesses in the retail zone between Bucknam Road and Route 88, which is currently home to a Walmart, a Shaw's supermarket, and a massive shopping complex that is dotted by vacancies.

The step is the first in a series of efforts to reinvigorate the business district, repave the highway and add streetscape and landscaping elements designed to attract pedestrian traffic.

The zoning law applies to ground-floor businesses in the retail zone between Bucknam Road and Route 88, which is currently home to a Walmart, a Shaw's supermarket, and a massive shopping complex that is dotted by vacancies.

US home sales rise 2.1% in October

November 19, 2012 in Articles

Author: Christopher S. Rugaber
Publication: The Associated Press- Portland Press Herald
In another positive sign, applications for mortgage loans to buy homes jumped 11 percent in the week ended Nov. 9.

WASHINGTON — U.S. sales of previously occupied homes rose solidly in October, helped by improvement in the job market and record-low mortgage rates. The increase along with a jump in homebuilder confidence this month suggests the housing market continues to recover.

Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that has helped the housing market start to recover this year. Mortgage buyer Freddie Mac says that the average rate on the 30-year loan dipped to 3.34 percent, the lowest on records dating back to 1971. That's down from 3.40 percent last week and the previous record low of 3.36 percent reached last month.

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