Dec. 8, 2010 at 11:45 a.m.
Filed under:
Internet,
Updated
By Wailin Wong
The U.S. Department of Agriculture is moving to a cloud-based system for e-mail, with its data being stored in Microsoft’s data center in suburban Chicago.
Cloud computing moves applications to the Internet, cutting costs and facilitating easier access to information. The USDA said it awarded a contract in May to Dell for Microsoft Online Services, aiming to move all of its e-mail, instant messaging and collaboration applications to the cloud.
Microsoft’s data center in Northlake opened in September 2009 and is home to thousands of servers that provide processing power and storage for the company’s cloud services. Get the full story »
Dec. 8, 2010 at 11:31 a.m.
Filed under:
Policy,
Politics,
Stock activity
By Reuters
The government's bailout of AIG during the financial crisis caused controversy, but an offering of AIG stock could come as early as March. Here, workers protest outside of AIG's Chicago offices in 2009. (AP Photo/M. Spencer Green)
The U.S. Treasury could cut its stake in bailed-out insurer American International Group by as much as 20 percentage points through a large stock offering in the first half of 2011, sources familiar with the matter said.
AIG and the Treasury would both sell stock in the offering, which could total more than $10 billion, according to the sources.
The government has seen strong market appetite for stock in bailed-out companies in the past few months, allowing it to be more aggressive in winding down its unpopular rescue of financial firms and other businesses. Get the full story »
Dec. 8, 2010 at 11:23 a.m.
Filed under:
Retail
By Reuters
U.S. online holiday sales are up 12 percent to more than $17.5 billion till date this year, with more than half of that making use of free shipping, according to research firm comScore Inc. Get the full story »
Dec. 8, 2010 at 10:54 a.m.
Filed under:
China,
Food,
International
By Reuters
Yum Brands said China would surpass the United States as the fast-food restaurant operator’s top profit generator this year, and the Chinese market’s potential is still largely untapped.
Yum has more than 3,700 restaurants in China, mostly KFC outlets, and has a big lead over Western rivals like McDonald’s in the world’s fastest-growing major economy. Get the full story »
Dec. 8, 2010 at 10:52 a.m.
Filed under:
Airlines,
Airplanes,
Airports
By Associated Press
United Continental Holdings Inc. said the combined traffic of both United and Continental airlines rose 4.8 percent in November.
The airlines, which are still operating as separate companies, said late Tuesday they flew paying passengers 16.15 billion miles last month, compared with 15.4 billion miles a year earlier. Get the full story »
Dec. 8, 2010 at 7:47 a.m.
Filed under:
Commercial real estate,
Real estate,
Retail
From the Chicago Sun-Times | Mayor Richard Daley is proposing a property tax break to bring a secod Costco to Chicago, this time to the Near South Side at 14th and Ashland Avenue. Daley said the project would create 600 construction jobs, 125 full-time jobs and 125 part-time positions. — in a move that could set a precedent for Wal-Mart and other big-box retailers. Costco currently has a store on Clybourn and Division in Lincoln Park. Get the full story>>
Dec. 8, 2010 at 7:25 a.m.
Filed under:
Food,
Restaurants
By Emily Bryson York
McDonald’s Corp. reported global comparable sales for November were up 4.8 percent, which was weaker than anticipated in its key domestic market and Japan.
In the U.S., McDonald’s credited the McRib sandwich, demand for McCafe beverages and its core menu for boosting sales 4.9 percent. Although winter is a historically slow period for McDonald’s is likely to grab its share of media attention with a nationwide promotion of oatmeal in the wings. Get the full story »
Dec. 8, 2010 at 6:47 a.m.
Filed under:
Computers,
Technology
By Associated Press
The European Union’s competition watchdog says it is fining five Taiwanese and South Korean electronics companies $856 million for fixing prices on LCD panels between 2001 and 2006. Get the full story »
Dec. 8, 2010 at 6:35 a.m.
Filed under:
Education
By Dow Jones Newswires
Washington Post Co.’s Kaplan Higher Education unit said it would be laying off about 5 percent of its work force, about 770 jobs, as it tries to strategically reduce enrollments of students less likely to repay their loans. About 185 of the positions are in Chicago, Crain’s Chicago Business reported. Get the full story »
Dec. 8, 2010 at 5:41 a.m.
Filed under:
Consumer news,
Technology
By Associated Press
The FBI says it recently issued an alert about a popular Barbie doll with a hidden video camera that could be used to produce child pornography, but stressed that the toy has not been linked with any reported crimes.
FBI spokesman Steve Dupre said Tuesday the alert last month was meant only for law enforcement agencies to advise them not to overlook Mattel’s “Barbie Video Girl” during any searches. The alert was sent out by the bureau’s Sacramento office. Get the full story »
Dec. 8, 2010 at 5:30 a.m.
Filed under:
Hearings: Senate Banking Committee subcommittee and Senate Permanent Subcommittee on Investigations holds joint hearing on the stability of capital markets, focusing on the May 6 market plunge, 2 p.m.
Dec. 7, 2010 at 6:02 p.m.
Filed under:
Agriculture/Farming,
International,
Investing
By Associated Press
Corn Products International Inc., which refines corn for use in food and industrial products, said Tuesday it plans to invest $75 million to $100 million over the next several years in its Brazilian business. Get the full story »
Dec. 7, 2010 at 5:20 p.m.
Filed under:
Policy,
Politics,
Technology
By Reuters
Google won a share of a federal government contract last week that the company hopes will give it a boost over rival Microsoft as they race to convert government agencies to cloud computing. Get the full story »
Dec. 7, 2010 at 4:30 p.m.
Filed under:
Chicago executives,
Personnel moves
By Zoe Galland
Recycled auto parts supplier LKQ Corp. announced Tuesday its current CEO Joseph Holsten will resign his position late next year, but will first serve as co-CEO for one year with Robert Wagman, the company’s current vice president of operations, to ease the transition for Wagman. Holsten, who has served as president and CEO since November 1998, will step down December 31, 2011.
After his resignation, Holsten will stay on at the company as vice chairman of the board and as a consultant for operations and corporate strategy.
