U.S. consumer confidence unexpectedly deteriorated in December, while prices of U.S. single-family homes fell almost double the expected pace in October, tempering growing optimism on the economy’s recovery. Get the full story »
Dec. 28, 2010 at 10:14 a.m.
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Filed under: Bankruptcy, Chicago executives, Media, Newspapers, Personnel moves Gerry Spector exiting as COO of Tribune Co.
Tribune Co. Chief Operating Officer Gerry Spector, a long-time associate of real estate billionaire Sam Zell, is leaving the Chicago-based media company he has helped lead since Zell took it private three years ago.
Illinois mulls bonds for student loan program
An Illinois student loan agency is proposing to sell $100 million of debt a year to supplement funding for a college grant program, a state official said on Monday.
Andrew Davis, executive director of the Illinois Student Assistance Commission, said the 10-year taxable revenue notes or bonds would be paid off with future state income tax payments made by recipients of the grants. Get the full story »
Dec. 28, 2010 at 9:39 a.m.
Filed under: Agriculture/Farming, Food, Government, Packaged foods, Restaurants, Updated FDA links tainted sprouts to Urbana farm
By Monica Eng | The Food and Drug Administration issued a warning Monday for consumers to avoid alfalfa sprouts and spicy sprouts that were grown on a farm in Urbana, Ill., because of a suspected link to salmonella. Get the full story »
Sears to honor some gift cards in half-off glitch
Sears said Tuesday morning that it will honor gift cards involved in a computer glitch Sunday night if they have been activated, but had canceled those that were not processed.
On Sunday night, Sears customers got a delayed Christmas present: 50 percent off online gift cards.
Oct. decline keeps local home prices at ‘02 levels
Prices of U.S. single-family homes fell almost double the expected pace in October, the fourth straight decline, data from a closely watched survey showed Tuesday, fresh evidence the housing market continues to struggle.
In the Chicago area, home prices fell 2 percent from September, bringing the one-year decline to 6.5 percent. Local home prices in October were in line with where they were in February. On a longer-term, historical basis, prices remain near the levels they were at in the summer of 2002.
Condo of ex-Blackhawk Ruutu back on market
By Bob Goldsborough | Elite Street | Former Chicago Blackhawks forward Tuomo Ruutu, now with the Carolina Hurricanes, has just placed his two-bedroom condominium unit in Lincoln Park back on the market for $499,000.
The Finland-born Ruutu, 27, played with the Blackhawks from 2003 until 2008, when he was traded to Carolina for Andrew Ladd. Get the full story »
Dec. 28, 2010 at 8:31 a.m.
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Filed under: Advertising/Marketing, Chicago executives, Personnel moves, Restaurants McDonald’s names VP of multicultural marketing
McDonald’s promoted its vice president and general manager of the Indianapolis region to vice president of multicultural marketing.
Edgardo A. Navarro Linares will be responsible for the company’s strategic and ethnic consumer marketing efforts in the United States. Get the full story »
Starbucks: Kraft not up to snuff in distribution deal
Starbucks Corp., which is in a legal dispute with Kraft Foods Inc. over a distribution deal, says the foodmaker has not performed up to its expectations — with Kraft admitting missteps in internal communications.
Kraft, which says the coffee chain violated terms of a distribution deal, announced late last week that a New York court may consider its request for a preliminary injunction against Seattle-based Starbucks. Both companies have until Jan. 21 to present their positions. Get the full story »
Sandra Bullock tops Zillow poll of favored neighbor
Americans would most like to live next door to actress Sandra Bullock in 2011, but the cast of the reality show “Jersey Shore” made the most undesirable neighbors, according to a poll released on Tuesday.
Bullock, who has won huge audiences with her All-American, girl-next-door image, earned more than a quarter of the vote in the annual poll on the most desirable celebrity neighbors, conducted by online real estate marketplace Zillow.com. Get the full story »
Fed to make next Treasury purchases today
The Federal Reserve is scheduled on Tuesday to buy Treasurys targeting maturities between June 30, 2013, and Nov. 30, 2014. Get the full story »
Sears rolls out its answer to Netflix
Sears Holdings Corp. has launched its online movie download service, Alphaline Entertainment, allowing Sears and K-Mart customers to download movies the day they are released on DVD.
The service runs on Sonic Solutions’ RoxioNow platform, and the companies are working to make the services available on portable media players, mobile phones and high-definition televisions under a multi-year agreement. Plans for the service were first announced in June. Get the full story »
Midair-collision warning devices draw FAA scrutiny
Federal aviation regulators are proposing fixes to midair-collision warning devices on nearly 9,000 U.S airliners and business aircraft, after uncovering a safety problem in a test flight.
The Federal Aviation Administration’s proposed directive, made public Monday, seeks to mandate software upgrades to widely used devices manufactured by a unit of L-3 Communications Holdings Inc. Get the full story »
Last-minute shopping cited in same-store sales gains
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index rose 1 percent in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis. Get the full story »
Disappointed with gift card? Exchange it
Gift cards continue to top the list of most requested presents this holiday season. But what if you don’t like the one you get?
You can shove it in a drawer and let it expire, adding to the $2.5 billion retailers are expected to collect in leftover gift card credit this year. Get the full story »
