Founding CEO of ULA to be replaced

Michael Gass, who has served as the president and chief executive of United Launch Alliance since its founding in 2006, is being replaced by Tory Bruno, a longtime aerospace executive, the company announced Tuesday.

The move comes as ULA, a joint venture of Lockheed Martin and Boeing, has been targeted by Elon Musk’s start-up, SpaceX, which is suing the government for the right to compete against ULA under a contract to launch defense payloads into space. Musk has said the contract, which was awarded to ULA on a sole-source basis, should be canceled and rebid.

Gass recently helped spearhead an effort to push back against the attacks, highlighting ULA’s years of successful launches over SpaceX’s relative inexperience.

“Mike’s track record speaks for itself: 86 successful launches in a row, including many of our nation’s most complex and critical space missions,” said Rick Ambrose, executive vice president of Lockheed Martin Space Systems and a ULA board member.

Bruno joins the company from Lockheed Martin, where he was vice president and general manager of strategic and missile defense systems.

Christian Davenport

$2.4 billion Revel casino resort to close

It’s not unexpected news: Revel, the $2.4 billion casino and resort that opened on Atlantic City’s boardwalk two years ago, will shut its doors next month.

The company had said it would close if it could not find a buyer for the ailing facility. In a statement Tuesday, Revel’s parent company announced that it would close by Sept. 10.

“We regret the impact this decision has on our Revel employees who have worked so hard to maximize the potential of the property,” the company said in a statement.

Revel had more than 3,100 employees as of last month, according to the New Jersey Division of Gaming Enforcement.

The closure comes amid news that Trump Plaza is expected to close around mid-September. All told, four Atlantic City casinos could be closing this year, costing more than 6,000 people their jobs.

Mark Berman

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