McDonald’s Corp. and 11 other companies were tapped Tuesday by Working Mother magazine as the best companies for hourly employees in 2011. Get the full story »
Aurelius: Halt Tribune confirmation hearings
Aurelius Capital Management said Tribune Co. must call a halt to confirmation proceedings on its Chapter 11 plan, which are set to resume Tuesday in a Delaware bankruptcy court. Get the full story »
WMS Industries shares fall 9% on lower Q3
Slot machine maker WMS Industries forecast a weak third quarter that fell short of analysts’ estimates, as demand fell, sending shares down 9 percent after the bell. Get the full story »
Wal-Mart closes on land for Chatham supercenter
A vacant lot on the 50-acre Chatham Market, a shopping center at 83rd Street near the Dan Ryan Expressway, where Wal-Mart wants to build its second city store. (Michael Tercha/Chicago Tribune)
Wal-Mart Stores Inc. closed on the sale of a piece of land on Chicago’s South Side where it plans to build a long-anticipated 155,000-square-foot supercenter.
The world’s largest retailer paid about $10 million for the 13.5 acre parcel at the Chatham Market shopping center at the corner of 83rd Street and South Holland Road, according to a person close to the deal. The store is slated to open next year. Get the full story »
Baker & McKenzie sued for $600M in ‘looting’
Baker & McKenzie and one of its former partners were sued Monday for $600 million by a Pennsylvania company that alleges the law firm and Martin Weisberg willingly participated in a “looting” of the company.
The suit’s filing is part of the Chapter 11 bankruptcy of Industrial Enterprises of America Inc., which sought protection from creditors in April 2009. Get the full story »
Toyota warns dealers about new car supply
Toyota Motor Corp. has warned its U.S. dealers that the supply of new vehicles could become “significantly impacted” by the summer, according to a memo distributed Sunday.
The memo is the clearest statement by Toyota that the shortage caused by the March 11 earthquake and tsunami will last into the third quarter. Get the full story »
Higher oil shouldn’t trigger Fed rate hike: Evans
Rising oil prices are unlikely to push up core inflation and thus should not trigger any interest-rate hikes from the U.S. Federal Reserve, according to research from a top Fed official on Monday. Get the full story »
Alcoa 1Q profit rises with the price of aluminum
Alcoa Inc. reported a large first-quarter profit on Monday, after a loss a year ago as the price of aluminum, its primary product, rose sharply with demand for the metal. Get the full story »
Vote on recall of head of United pilot union delayed
A vote to recall the head of United Airlines’ pilots union has been postponed until Thursday, sources told the Tribune. Get the full story »
Schneider Electric weighs bid for Tyco
Schneider Electric, the world’s largest maker of voltage equipment, is considering a takeover offer for industrial conglomerate Tyco International Ltd, but the idea is at an early stage and no deal is imminent, Bloomberg reported.
Schneider is working with bankers to help it weigh up a potential purchase of Tyco, Bloomberg said on its website, citing people with knowledge of the matter that it did not identify. Get the full story »
Wendy’s hopes to beat McDonald’s in fry game
Wendy's natural-cut fries debuted in November. (Wendy's/Arby's)
Wendy’s/Arby’s Group Inc. is standing up to its biggest burger rival, McDonald’s Corp., by putting its marketing dollars toward gaining more french fry market share. By changing its recipe to differ more from McDonald’s french fries, Wendy’s is choosing to compete by being unique, rather than solely by trying to be better.
“French fries are a significant part of our menu,” said Ken Calwell, Wendy’s chief marketing officer. “And it’s so hard to have something unique and different, that still tastes good, in the fast-food industry. So, we see the new fries as a huge opportunity for us.” Get the full story »
Sears interim CEO pay more than triples in 2010
W. Bruce Johnson was appointed in 2008. (Sears handout)
Sears Holdings Corp. interim Chief Executive W. Bruce Johnson saw his compensation package rise 250 percent to $5.3 million last year, according to a proxy the Hoffman Estates-based company filed with the Securities and Exchange Commission.
Johnson, who held the spot until February, received a base salary of $980,000, up 15 percent from the prior year. His stock awards were $4.3 million, up from $663,000. Get the full story »
2 injured in Illinois ethanol plant fire
Authorities say a flash fire at a southwestern Illinois ethanol plant has injured at least two people. Get the full story »
Court: Winklevosses must accept Facebook deal
Tyler Winkelvoss, left, and his identical twin brother Cameron. (Don Bartletti/Los Angeles Times)
Cameron and Tyler Winklevoss cannot back out of a settlement with giant social networking firm Facebook over claims that Chief Executive Mark Zuckerberg stole their idea, a U.S. appeals court ruled Monday.
The saga of the Winklevoss twins and Zuckerberg became silver screen lore with the release of the film “The Social Network” last year. It has long been a legal battle as well. Get the full story »
Illinois’ top court forms foreclosure commission
The Illinois Supreme Court on Monday announced the formation of a special committee to investigate the fairness of mortgage foreclosures in Illinois and perhaps change the rules that govern the process. Get the full story »
