Traverse City Record-Eagle

Business

March 2, 2014

Business in Brief: 03/02/2014

Elk Rapids Chamber meeting scheduled

ELK RAPIDS — The Elk Rapids Area Chamber of Commerce will host their annual business meeting on Thursday at 7:30 a.m. at the Government Center.

Chamber President Mike Husby will share information about the state of the Chamber and plans for the upcoming year. There is no charge, but attendees must be a member in good-standing.

Train gets stuck in snow in Michigan

HOLLAND — Amtrak says one of its passenger trains traveling from Chicago to Grand Rapids was delayed nearly three hours after getting stuck in a snow drift in Michigan.

Amtrak spokesman Steve Kulm tells The Associated Press the Pere Marquette line train was about 8 miles west of Holland on Thursday night when CSX railroad directed the train into a side track for a freight train to pass. The Amtrak train got stuck on the side track.

Kulm says a CSX locomotive pulled out the Amtrak train. He says the Amtrak train and its 64 passengers arrived in Grand Rapids around midnight.

No one was injured and Kulm says the train had power for lights and heat at all times.

Bitcoin exchange files for bankruptcy

TOKYO — The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for.

The exchange’s CEO Mark Karpeles appeared before Japanese TV news cameras, bowing deeply. He said a weakness in the exchange’s systems was behind a massive loss of the virtual currency involving 750,000 bitcoins from users and 100,000 of the company’s own bitcoins. That would amount to about $425 million at recent prices.

The online exchange’s unplugging earlier this week and accusations it had suffered a catastrophic theft have drawn renewed regulatory attention to a currency created in 2009 as a way to make transactions across borders without third parties such as banks.

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