Jan. 25 at 6:52 a.m.
Filed under:
Sports,
Work culture
By Tribune staff report
John Stone said that when he went to work Monday morning at Webb Chevrolet in Oak Lawn, he decided to wear a Green Bay Packers tie he’s had for years to honor his late grandmother, a huge Packers fan.
Little did he know that the seemingly innocent gesture would cost him his job, Stone said.
Stone said that when he showed up at work, general manager Jerry Roberts called him over to his office and then ordered him to take off the Packers tie or else he would be fired. Stone said he thought Roberts was joking and went back to work. Get the full story>>
Jan. 25 at 6:15 a.m.
Filed under:
Food,
Restaurants
From Crain’s Chicago Business | Kanye West’s Fatburger franchise at 15100 S. La Grange Road in Orland Park closed this weekend after failing to meet the chain’s financial expectations. West’s Fatburger in Beverly will remain open. He has rights to develop a total of 10 restaurants in the Chicago area. Get the full story>>
Jan. 25 at 5:55 a.m.
Filed under:
Advertising/Marketing,
Taxes
By Associated Press
New Jersey Gov. Chris Christie in ad targeting Illinois businesses.
New Jersey Gov. Chris Christie’s administration thinks there’s business to be had — from Illinois.
The governor is launching an ad campaign encouraging businesses in Illinois to relocate to the Garden State. An official announcement from the Christie administration is planned for Tuesday, when ads will start appearing in newspapers and on radio stations in major Illinois cities like Chicago and Springfield. Get the full story »
Jan. 25 at 5:30 a.m.
Filed under:
Reports: S&P/Case-Shiller index of home prices for November, 8 a.m.; Consumer Confidence Index for January, 9 a.m.
Meetings: Federal Reserve meets to discuss interest rates.
Local earnings: Calamos Asset Mangement Inc., DeVry Inc., First Busey Corp., John B. Sanfillipo & Son Inc., Molex Inc., PrivateBancorp Inc., Tellabs Inc., WMS Industries Inc., W.W. Grainger Inc.
Other major earnings: 3M Co., Coach Inc., Corning Inc., E.I. DuPont de Nemours & Co., EMC Corp., Harley-Davidson Inc., Johnson & Johnson, Kimberly-Clark Corp., Norfolk Southern Corp., United States Steel Corp., Verizon Communications Inc., Yahoo Inc. releases quarterly financial results.
By Emily Bryson York
Nutrition labeling is coming to the front of packaged foods. (AP)
A coalition of food and beverage manufacturers and retailers announced a plan to help consumers identify healthier choices in the grocery aisle.
Called “Nutrition Keys,” the program led by the Grocery Manufacturers Association will place pertinent calorie, fat, sodium and sugar information on the front of packages.
Developed in response to a request from First Lady Michelle Obama nearly a year ago, it also will call out products that contain under-consumed nutrients including potassium, fiber or vitamin C.
The Nutrition Keys logo will appear on products deemed to fit within a “balanced and healthy diet as part of the federal government’s daily dietary advice.
“Front-of-pack labels have become important in recent years, as experts acknowledge that few shoppers read the information panels on the back of foods.
Get the full story »
Jan. 24 at 5:19 p.m.
Filed under:
M&A,
Retail
By Dow Jones Newswires
Borders Group Inc. has agreed to sell its Day by Day Calendar Co. business to Texas company Calendar Holdings LLC, the Detroit News reported online Monday, citing the Michigan-based book retailer.
Terms weren’t disclosed.
Borders has been negotiating with lenders and publishers to restructure debt and vendor payments. This month, the retailer said it planned to eliminate more than 300 jobs this year.
Jan. 24 at 5:14 p.m.
Filed under:
M&A,
Private equity,
Restaurants
By Associated Press
A group of private investors is buying the Atlanta-based Hooters of America Inc. and its restaurant chain.
A deal announced Monday will give a consortium of private investors including Charlotte, N.C.-based Chanticleer Holdings Inc. ownership of nearly half of all domestic Hooters restaurants and more than one-third of those worldwide. The sales price was not disclosed. Get the full story »
Jan. 24 at 4:43 p.m.
Filed under:
Advertising/Marketing,
Media,
TV
By Reuters
Sandwich chain Subway Monday became the fifth company to distance itself from MTV’s controversial new series “Skins,” pulling its advertising from the teen show after a campaign by a parents TV watchdog.
A representative for Subway told The Hollywood Reporter the company would not be running its ads on Monday’s second episode of the drama series about misfit teens who dabble in drink, drugs and sex. Get the full story »
Jan. 24 at 4:20 p.m.
Filed under:
Bankruptcy,
Government
By Reuters
House Majority Leader Eric Cantor on Monday dismissed the idea that states should be allowed to declare bankruptcy, diminishing the possibility that any legislation opening bankruptcy courts to the states will work its way through Congress.
Cantor, speaking to reporters, was reacting to reports last week that some fellow Republican members of Congress were preparing legislation to allow cash-strapped states to declare bankruptcy as an alternative to turning to the federal government for financial help. Get the full story »
Jan. 24 at 4:00 p.m.
Filed under:
Insurance,
Personnel moves
By Reuters
Bob Benmosche will continue as chief executive of bailed-out insurer American International Group Inc., having made sufficient progress in his treatment for cancer, the company said Monday.
AIG said last October that Benmosche was receiving aggressive chemotherapy for an undisclosed cancer but that he intended to remain CEO into 2012, health permitting. Benmosche said in a statement his doctors believed he could continue working for 12 to 18 months. Get the full story »
Jan. 24 at 3:55 p.m.
Filed under:
Credit Cards,
Earnings
By Reuters
American Express Co. said fourth-quarter revenue grew 13 percent from a year earlier, as consumer spending increased and the company earned more from fees.
The credit card lender and payment network Monday reported $7.3 billion of quarterly revenue net of interest expense, up from $6.5 billion a year earlier. Get the full story »
Jan. 24 at 3:38 p.m.
Filed under:
Chicago executives,
Personnel moves
By Melissa Harris
Merri Ex, a veteran nonprofit leader and fundraiser, has been named chief executive of Family Focus, a community organization that offers parenting classes and other assistance to families. Get the full story »
Jan. 24 at 3:13 p.m.
Filed under:
Banking,
Earnings
By Becky Yerak
OMG. That’s what Wintrust Financial Corp. Chief Executive Ed Wehmer, whose Lake Forest-based company is the first locally headquartered mid-sized bank to repay its bailout money to the U.S. Treasury Department, says he has said when looking at 20 to 25 potential acquisitions recently.
Wintrust hasn’t pulled the trigger on any of them because of their credit problems.
“You get in there, and you go, ‘Oh my God,’” said Wehmer, whose $14 billion-asset company owns 15 banks. Also, the potential acquisition targets didn’t have that great of a franchise, he said. Get the full story »
By Gregory Karp
Taco Bell's lineup of beef tacos. (Taco Bell)
“Where’s the beef?” Wendy’s restaurants once famously asked through its advertising as a swipe at its small-burger competitors.
The same question is now being asked by a California woman regarding Taco Bell’s beef products, which she claims contain very little meat. So little in fact, she’s brought a false-advertising lawsuit against the huge fast-food Mexican restaurant chain. Get the full story »
Jan. 24 at 2:11 p.m.
Filed under:
Litigation,
Technology,
Telecommunications
By Wailin Wong
Chinese telecommunications company Huawei Technologies Co. sued Motorola and Nokia Siemens Networks Monday, seeking to stop the planned $1.2 billion sale of Motorola’s networks business to the European company.
The lawsuit, filed in U.S. District Court for the Northern District of Illinois, marks the first time Huawei has sued a U.S. company. Get the full story »
