Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Sittercity.com, a Chicago-based Web site that pairs customers with baby and pet sitters and other caregivers, has named a new chief executive, replacing its founder with one of the venture capitalists who has a stake in the business.
Martin Clifford, a venture partner at Sittercity investor Point Judith Capital, has been named CEO. Genevieve Thiers, Sittercity founder and former CEO, will remain president of the board and a strategic adviser to the company. Get the full story »
Former newspaper magnate Conrad Black is seeking bail now that the U.S. Supreme Court has kicked his 2007 fraud conviction back to a lower court.
Black’s lawyers filed the motion Tuesday in Chicago. That follows a Supreme Court ruling last month weakening the “honest services” law central to his fraud conviction. Get the full story »
Orbitz Worldwide Inc. announced today it is hiring eBay Inc. executive Chris Orton as its chief marketing officer, effectively immediately.
Orton was senior director of Internet marketing at eBay, where he worked since 2003.
“We believe his deep experience of applying massive data sets to marketing opportunities will make Orbitz a more effective and efficient marketing organization,” Barney Harford, president and chief executive officer of the Chicago-based online travel company, said in a written statement.
Investor Warren Buffett has delivered his annual gifts of Berkshire Hathaway stock worth $1.9 billion to the five foundations he has promised the bulk of his $45 billion fortune to. Buffett made his gift of 24.5 million Class B shares of Berkshire Hathaway Inc. stock on Thursday.
For-profit education provider DeVry Inc. said Friday that it appointed Steven P. Riehs president of K-12, Professional and International Education, starting Oct. 1.
Riehs will oversee a new organizational structure within DeVry that includes Advanced Academics, Becker Professional Education, DeVry Brasil and the company’s other international operations. Get the full story »
Wal-Mart Stores Inc. said Chief Merchandising Officer John Fleming would resign from the company on Aug. 1, leaving the retail giant after 10 years of service and becoming the latest executive change.
The chief merchandising post is a key role for many retailers as that person typically steers a large staff and maintains relationships with vendors and suppliers. Wal-Mart is taking steps to improve its U.S. operations, with its high-profile move to open a second store in Chicago seen as a potential door-opener to other urban markets. The company also is opening smaller stores as it boosts its presence as a grocer. Get the full story »
CME Group, the world’s leading and most diverse derivatives marketplace, today announced that June volume averaged 12.2 million contracts per day, up 8 percent from June 2009. Total volume was 268 million contracts for June, of which 84 percent was traded electronically. Get the full story »
Exelon Corp. said Thursday that it has made several management changes, including the retirement of a key executive. Ian P. McLean, the 60-year old executive vice president of Exelon and CEO of Exelon Transmission Co., is retiring as of July 15. The company also said Darryl M. Bradford has been named senior vice president and general counsel for Exelon Corp. Bradford previously served in several leadership positions at Exelon subsidiary ComEd.
A Goldman Sachs executive told an inquiry panel Thursday that the firm had no regrets about collecting billions of dollars in taxpayer money for correctly predicting the demise of the U.S. housing market.
David Viniar, Goldman’s chief financial officer, said Uncle Sam had an obligation to honor American International Group’s full debts. The firm was entitled to be paid $12.9 billion out of the $182 billion bailout that went to crippled insurance giant AIG — the largest federal rescue. “The government stepped into AIG’s shoes” and therefore had to honor its contract with Goldman, Viniar told the panel investigating the financial meltdown.
Motorola Inc. said its spun-off mobile devices and home company will be called Motorola Mobility, with the remaining business being named Motorola Solutions Inc.
The new names were disclosed in a Thursday filing with the U.S. Securities Exchange Commission that outlined more details of Motorola’s planned separation into two companies. The split is scheduled for the first quarter of 2011, and the registration filing with the SEC marked an important step in the process. Get the full story »
U.S. agricultural processor Archer Daniels Midland Co on Thursday said it will invest $100 million in a Chinese bank and open an office in Beijing as part of its goal to boost sales in China.
“China’s agricultural market is growing in both supply and demand and represents significant growth opportunities for ADM,” ADM Chief Executive Patricia Woertz said in a statement. Get the full story »
Abbott Laboratories said Thursday its executive vice president of pharmaceutical products is retiring.
The company said Olivier Bohuon will “shortly announce his plans to accept another opportunity” in a report filed with the Securities and Exchange Commission. The North-Chicago based company named Richard A. Gonzalez the interim vice president.
American International Group Inc. has picked David DeMuro, the former head of compliance and regulation at Lehman Brothers Holdings Inc., as its new head of compliance and regulatory affairs.
DeMuro, expected to start at AIG next week, will be working for his former boss from Lehman, Thomas Russo. The former chief legal officer at the now-failed Wall Street bank, Russo this year was appointed as the government-controlled insurer’s general counsel. DeMuro will be AIG’s deputy general counsel. Get the full story »
Plainfield-based Spring-Green Lawn Care Corp. announced Tuesday that it named Ted Hofer its chief executive.
Hofer, 35, will replace his father, Tom Hofer, who will remain the company’s chairman. Ted Hofer joined the company in 2005. Get the full story »
