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Capital One buys HSBC card business, Lord Amherst Hotel sells, LIDS acquires Buffalo's Rally Jungle and Vision Airlines ends service in Niagara Falls

From Business Today:


HSBC has found a buyer for its U.S. credit card business. Capital One Financial Corp. will buy $29.6 billion in loans from HSBC Holdings plc for about $2.6 billion. About 140 workers here are affected by the deal, but have been offered jobs with Capital One. They are mostly in the card fraud prevention and investigations department. The sale does not include the $1.1 billion credit card business of HSBC Bank USA.


A well-known property in Snyder is expected to be sold next month. Williamsville-based Iskalo Development is in the process of buying the Lord Amherst Hotel, which is currently owned by the Genrich family. Both the seller and buyer are remaining mum on the details, but family member Willa Long said the hotel is successful and not losing money. The 95-room hotel, located at 5000 Main St., was built in 1960. The property also includes the Sonoma Grill restaurant next door to the hotel.


A national sporting goods dealer just acquired a Buffalo company. LIDS, which has nearly 1,000 retail locations nationwide, bought Rally Jungle, which makes corporate, team and charity-branded sportswear. Rally jungle has a unique merchandising model, in which it creates social media Web pages for organizations to sell custom-made apparel for fundraising purposes. The company was founded by John DeWaal, a former vice president at New Era Cap Co.


Vision Airlines is ending its service out of the Niagara Falls International Airport. It began offering service last December with twice weekly flights to Destin/Fort Walton Beach in Florida. Of the three airlines working out of the airport, it had the fewest number of flights and offered the least service, officials said.

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