Bookseller Borders Group has hired FTI, a firm known for its restructuring practice, to assist in analyzing its finances, according to sources familiar with the situation. Get the full story »
Wirtz plans to build office and warehouse in Cicero
A view of Sportsman's Park in Cicero as it is demolished, Jan. 5, 2009. Wirtz Beverage Illinois has its eye on the now-vacant land there. (Antonio Perez/Chicago Tribune)
Wirtz Beverage Illinois announced Thursday that it plans to build a $70-million, 600,000-square-foot distribution center in Cicero, which would include 100,000 feet of office and conference center space. The new center, if approved, would incorporate Wirtz’s other offices and warehouses in Schaumburg, Wood Dale, Bensenville and Elk Grove Village.
Most of Wirtz’s 1,000 employees would move to the new center as well, the company said in a statement. Get the full story »
CF Industries to sell 4 fertilizer warehouses
CF Industries Holdings Inc. has agreed to sell four dry fertilizer warehouses to a regional agriculture cooperative, the company said Thursday.
The fertilizer supplier, based in Deerfield, said the space is no longer needed because more dry fertilizer is being shipped directly from factories to consumers. Get the full story »
Caterpillar suspends Aurora mining shovel plan
Caterpillar Inc. suspended a plan to build mining shovels at its Aurora facility, which would have created 300 jobs through 2014.
The change of plans is due to the company’s acquisition of South Milwaukee-based Bucyrus International, a maker of shovels, walking draglines, drills and other mining equipment. The $7.6 billion deal, which was announced in November, is expected to close in mid-2011.
The company said in a statement that it suspended the all development and capital investment for mining shovels in Aurora “to conserve resources and eliminate business risks associated with internal development.” Get the full story »
Homeless man new voice of Kraft Mac & Cheese
Kraft's new "voice" of its Mac & Cheese, Ted Williams, appears on NBC's "Today" show on Jan. 6, 2011. (Reuters/Handout)
Here’s an unusual way to get a job: Ted Williams, a Columbus, Ohio, panhandler, garnered the attention of the Columbus Dispatch, which posted a video of him doing sample voiceovers by the side of the road.
From this, Williams appeared on the “Today” show Thursday morning, announcing that he’d gotten a job as the voice of Kraft Macaroni & Cheese.
In the video, a disheveled Williams explained that he’d studied voice in school, but developed a drug and alcohol problem. With two years clean, he said, he was hoping that a company would notice him. Get the full story »
Chevy Volt to get lighter, more powerful batteries
A licensing agreement among LG Chem, Argonne National Laboratory and General Motors will result in lighter, more powerful lithium-ion batteries for the Chevrolet Volt.
The deal, announced Thursday, gives LG Chem and GM U.S. access to Argonne’s patented lithium- and nickel-manganese-cobalt cathode combination that will be used to extend range between charges, increase battery life and improve the safety of lithium-ion cells.
“This is cutting-edge technology that is going to improve future electrified vehicles — pure electrics, extended-range electrics and plug-in hybrids,” Jon Lauckner, president of GM Ventures, said of the second generation cathode material. Get the full story »
Lakeshore Athletic Club in Lincoln Park sold
LHC Investments announced said it has acquire Lakeshore Athletic Club in Lincoln Park, located at 1320 W. Fullerton. Terms of the deal were not disclosed. Get the full story »
Ulta ups outlook on strong holiday sales
Ulta Salon, Cosmetics & Fragrance Inc. said Thursday that revenue at stores open at least a year surged 9.5 percent for its seven-week holiday period. The strong performance prompted the beauty retailer to boost its fiscal fourth-quarter earnings and revenue outlooks. Its stock jumped $1.60, or 4.6 percent, to $36.12 in morning trading. Get the full story »
Fox TV networks to be restructured, chief to leave
News Corp. said that it will restructure its Fox television networks division and that Tony Vinciquerra, who has led the business since 2002, will depart.
The company said Vinciquerra has chosen to leave as of Feb. 11 to pursue other opportunities. David Haslingden, chief executive of Fox International Channels, will move to Los Angeles to become president and chief operating officer of Fox Networks Group, reporting to News Corp. Chief Operating Officer Chase Carey. Get the full story »
Recycling to put a Four Loko in your tank
Truckloads of Four Loko and other alcohol-laced energy drinks are being recycled into ethanol and other products after federal authorities told manufacturers the beverages were dangerous and caused users to become “wide-awake drunk.”
Wholesalers from Virginia, North Carolina, Maryland and other East Coast states started sending cases of the high-alcohol, caffeinated malt beverages to MXI Environmental Services in Virginia after the Food and Drug Administration cracked down on the sale of such beverages in November. Get the full story »
Jewel asks employees to take time off without pay
A Jewel-Osco at 370 N. Desplaines in Chicago. (Antonio Perez/Chicago Tribune)
Jewel-Osco is offering all corporate employees unpaid time off between now and Feb. 26, representatives for the store’s parent, SuperValu, said. The offer extends to all SuperValu chains, including Save-a-Lot, Acme, Cub and Albertson’s.
The money-saving program is voluntary, SuperValu added, a point that was also made by the union that represents Jewel-Osco employees, Local 881. Union employees cannot be forced to take unpaid time off. The program is directed at office employees, not grocery-store workers.
On Wednesday SuperValu announced that it was closing about 20 underperforming stores in New England, Philadelphia and the West Coast. Stores in the Chicago area will be unaffected, a SuperValu spokesman said. Get the full story »
Skype to buy mobile video company
Skype has agreed to buy Qik, a service that lets users stream video from their smart phones, for an undisclosed amount.
The price tag has been reported to be about $100 million, though Skype said it won’t provide terms. The deal is expected to close this month. Get the full story »
RIM assures that Wi-Fi only PlayBook on schedule
Research In Motion Ltd. reiterated Thursday its plans to release the Wi-Fi-only version of its PlayBook tablet in the first quarter of calendar 2011.
“The BlackBerry PlayBook is expected to begin shipping in the U.S. in Q1,” RIM said in an e-mail sent via their outside public-relations firm, Brodeur Partners. Get the full story »
