Local earnings: Equity Lifestyle Properties
Other major earnings: Alcoa, Bassett Furniture Industries, Progressive Corp.
Homebuilder Pasquinelli files for bankruptcy
Pasquinelli Homebuilding LLC, the Burr Ridge-based homebuilder whose business started in Chicago’s south suburbs but expanded to seven other states, has filed documents with U.S. Bankruptcy Court to liquidate the company. Get the full story »
Heartland to take over Western Springs bank
U.S. regulators announced the failure of an Illinois bank Friday, the fourth in that state to be shuttered this year. Get the full story »
Illinois ranked No. 8 in bank robberies last year
The state of Illinois might be notorious for its financial troubles, but at least it barely cracked the Top 10 of states with the most bank robberies in 2010, according to newly released statistics from the FBI. Get the full story »
U.S. House rejects FCC’s ‘open’ Internet rules
The U.S. House of Representatives voted on Friday to reject Internet “neutrality” rules that were adopted last year to keep big Internet service providers from blocking certain traffic. Get the full story »
Sears raises credit facility capacity to $3.275B
Sears Holdings Corp. said Friday that it increased the borrowing amount on its domestic revolving credit facility to $3.275 billion from $2.441 billion. Get the full story »
Southwest CEO: All but two planes back in service
A week after a hole ripped open on the fuselage of one of his planes, Southwest Airlines Chief Executive Gary C. Kelly said Friday that all but two inspected planes will be back in the air by Saturday.
During a panel discussion at a gathering of financial journalists in Dallas, Kelly said Southwest has inspected and returned to service 78 planes but is still making repairs on two Boeing 737s, including the plane with the damaged fuselage.
Expedia shares gain on TripAdvisor spin-off plan
Shares of Expedia rose 13 percent Friday as analysts hailed the online travel agency’s TripAdvisor separation plan as a way to unlock potential value. Get the full story »
Naperville 5th grader wins financial essay contest
A cautionary tale with a twist ending helped Naperville fifth-grader Charles Tiseo win the 2011 Money Smart Kid award during the Federal Reserve Bank of Chicago’s financial literacy week.
The White Eagle Elementary School student, 11, beat out 116 other entrants with his “Curious Case of Benjamin Budget” story about an poor old man who ignored the lessons of his youth. Get the full story »
McDonald’s Skinner gets $9.7M in 2010
McDonald’s Corp. Chief Executive Jim Skinner received a total of $9.7 million in compensation in 2010, including his roughly $42,000 annual salary increase and a 38 percent increase in his annual performance bonus. Get the full story »
USDA to help gas stations fund new ethanol pumps
The Department of Agriculture will soon begin helping gasoline stations install new pumps that can dispense ethanol to curtail the nation’s dependence on petroleum-based fuel, USDA Secretary Tom Vilsack said Friday. Get the full story »
Chevy Cruze recalled for steering wheel inspection
General Motors Co. is recalling about 2,100 2011 Chevrolet Cruze small cars to inspect for an improperly fastened steering wheel after discovering one vehicle with the defect. Get the full story »
FatWallet.com’s move to Wisconsin is on
A Rockton, Ill., Internet retailer is moving its headquarters across the border to downtown Beloit, Wis., Friday to escape Illinois’ recently enacted Internet sales tax. Get the full story »
