. >> ceo tim wilmont says they plan to spend a couple hundred millions to improve it and provide a stip destination for loyalty members across the country. the blackstone group bought the cosmopolitan from deutsche banc for half off. >> we posted our first net income in the second quarter. that's the goal is to make money. >> if management is smart, the house always wins eventually. jane wells, las vegas. >>> more layoffs in the oil patch and that's where we begin tonight's market focus. chesapeake energy will cut about 15% of its workforce blaming it on slumping oil and gas prices. shares were down in initial after hours trading on this news during the regular session is, the stock was up 1% to $6.79. ralph lauren is stepping down from his post as ceo. a former president at old neighbor, go figure, will be taking his place. lauren has been the ceo and lead designer since he founded the firm nearly 50 years ago. shares popped in initial after hours trading. at the close the stock off slightly at $104.05. at&t make take a $1 billion charge according to a regulatory filing. a change in ex