Stericycle Inc., which manages and disposes medical waste, said Tuesday that Executive Vice President Richard L. Foss left the company Dec. 31. Get the full story »
Macy’s adding 725 to expand Web sites
Macy’s Inc. expects to add about 725 new positions during the next two years as it looks to expand its Web site offerings.
Shoppers have been increasingly moving their business online, and Macy’s, for its part, has seen its online sales grow in the double digits on a percentage basis over the past few years. For the first 10 months of fiscal 2010, online sales were up 29 percent. Get the full story »
U.S. consumer bankruptcies hit 5-year high
The number of U.S. consumers who filed for bankruptcy protection in 2010 was the highest in five years, and the figure could rise as Americans struggle with excess debt in an uncertain economy, a new report said.
Roughly 1.53 million consumer bankruptcy petitions were filed in 2010, up 9 percent from 1.41 million in 2009, according to the American Bankruptcy Institute, citing data from the National Bankruptcy Research Center. Get the full story »
Great Lakes Dredge acquires L.W. Matteson
Great Lakes Dredge & Dock Corp., the largest U.S. provider of dredging services, said it has acquired the assets of L.W. Matteson Inc., a maintenance dredging, environmental dredging and levee construction company based in Burlington, Iowa for $45 million. Get the full story »
Ch. 5 anchor closes sale on West Loop condo
ELITE STREET | By Bob Goldsborough | WMAQ-Ch. 5 news anchor Marion Brooks on Monday closed on the sale of her seven-room West Loop condo for $450,000.
The recently divorced Brooks, 44, told Elite Street in Septemeber that she had listed the 30th-floor condo because of a desire to live closer to her NBC Tower office in Streeterville. At that time, the three-bedroom condo in the SkyBridge high-rise was available for $429,000. Get the full story »
State Farm tightens dress code: No more shorts
Three years after they relaxed the dress code for employees at their Bloomington headquarters, the State Farm Insurance Cos. are tightening it up a bit again. As of this week, shorts are forbidden. Get the full story »
7 insurers sue Toyota over sudden acceleration
Seven insurance companies have sued Toyota Motor Corp. in an attempt to recover money paid to cover crashes they blame on sudden acceleration.
The insurers cite data that blames 725 crashes on the problem and fault the Japanese automaker for failing to equip its cars with an override system that would cause a car to idle if the brake and gas were deployed simultaneously. They are seeking damages in excess of $230,000 from 14 crashes throughout the United States.
Starbucks weighed down by Kraft’s Tassimo
From Bloomberg News | Starbucks Corp. is trying to break a 13-year-old deal that ties its single-cup home brewing business to Kraft Foods Inc.’s slow-selling Tassimo machine. Under the terms of the deal, Starbucks can’t put its coffee in the Keurig Home Brewer, which dominates the U.S. market for machines that make single cups of coffee in a minute or less. Get the full story>>
India rejects Abbott patent of Kaletra AIDS drug
Abbott Laboratories was refused copyright protection on its AIDS drug Kaletra by India’s patent office, allowing Cipla Ltd. and other generic-drug companies to continue selling copies. Get the full story »
Jan. 4 at 5:30 a.m.
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Filed under: The day ahead in business
Reports: Factory orders for November, 9 a.m.; Minutes from Fed’s December interest-rate meeting; Automakers release vehicle sales for December.
Jan. 3 at 6:27 p.m.
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Filed under: Chicago executives, Conventions, Personnel moves, Policy, Tourism Indy tourism exec to lead Chicago convention bureau
The Chicago Convention & Tourism Bureau’s board today hired Indianapolis tourism executive Donald P. Welsh as its new president and chief executive officer.
Welsh was hired away from the Indianapolis Convention & Visitors Assn., where he was chief executive.
His hiring comes shortly after the resignation of Tim Roby, a hospitality industry sales and marketing executive who took the top executive post at the bureau in 2006. Get the full story »
Discover executives sell $4 million in stock
Two Discover Financial Services executives ended 2010 by selling nearly $4 million in stock of the Riverwoods-based credit card company.
On Dec. 20, President Roger Hochschild sold 100,000 shares for an average price of $18.26. On Dec. 27, Chief Financial Officer Roy Guthrie sold 115,000 shares for an average price of $18.50, according to Securities and Exchange Commission records. Get the full story »
Goldman, Digital Sky invest $500M in Facebook
Facebook has raised $500 million from Goldman Sachs and Russian investment firm Digital Sky Technologies, in a deal that values the world’s No.1 Internet social networking company at $50 billion, according to a person familiar with the matter. Get the full story »
Gadget show to bring fiercer competition to iPad
Apple Inc.’s popular iPad is getting its strongest competition thus far as consumer-electronics manufacturers unveil tablet computers with bigger screens, front-facing cameras for video chatting and more. Get the full story »
