Wintrust Financial Corp. on Monday said it has started two public offerings, one of common stock and the other tangible equity units to raise money to buy back the preferred stock held by the U.S. government. Get the full story »
Nicor shares rise on news of possible acquisition
Nicor Inc.’s stock price rose 4.24 percent to $46.76 today on reports that the Naperville energy company is set to announce a deal to be acquired by Atlanta-based AGL Resources.
The company has been shopping itself for months, courting regulated utilities and infrastructure funds with little success. Speculation arose last week that Integrys Energy Group Inc., parent of People’s Gas, was a considering a bid. AGL surfaced as Nicor’s likely buyer Monday in a report by Mergermarket, which tracks such deals and cited sources close to the situation. Get the full story »
Chrysler introduces new 200, Avenger sedans
Chrysler is kicking off production of the Chrysler 200 and Dodge Avenger sedans, two revamped cars that are critical to the automaker’s future. Get the full story »
Grocery, eatery replacing Old Orchard food court
Rendering of planned grocery and eatery. (Richtree)
Westfield Old Orchard mall in Skokie has demolished its old food court and is in the process of building a high end eating area with a variety of organic, sustainable, and artisan options as well as a grocery. It’s expected to open next summer.
“Our new open kitchens and natural market experience will reflect the ever-growing sophistication and culinary awareness of our customers,” Deborah Mattes, senior general manager of Old Orchard. Get the full story »
Consumer Reports rates AT&T worst carrier
AT&T’s customer satisfaction rating tumbled this year, ranking dead last among U.S. wireless carriers, according to a Consumer Reports survey released on Monday.
The nation’s second largest wireless network received the worst possible rating in eight of the nine categories the magazine studied, including overall value, voice service, data service, phone service, staff knowledge, and resolution of issues, among others. Get the full story »
Feds charge more than 500 in Ponzis, frauds
U.S. Attorney General Eric Holder announces the results of "Operation Broken Trust." (Chip Somodevilla/Getty)
U.S. officials said Monday they have charged more than 500 people in what they dubbed the largest-ever nationwide sweep of scam artists preying on individual investors.
The announcement comes as federal agencies and the Obama administration are facing pressure to punish big-name companies and individuals for their role in the financial mess. So far, the U.S. has won few high-profile cases, compared with the aftermath of the savings and loan crisis and the dot-com bust. Get the full story »
United postpones first 787 service
With another delay to Boeing’s 787 Dreamliner looming, United Airlines has postponed launching service from Houston to Auckland, New Zealand, the first North American flight slated to feature the ground-breaking jet
The new United had planned to launch those flights on Nov. 16, 2011, to be flown initially under the brand of merger partner Continental Airlines, said Julie King, spokeswoman for the Chicago-based carrier. But with uncertainty shrouding the 787’s commercial debut, the world’s largest airline decided to push back its New Zealand expansion effort to 2012. Get the full story »
Boeing puts 3-week hold on 787 assembly
Boeing Co. puts a three-week hold on assembling new 787s. Boeing said on Monday that the hold began late last month. It says it is not asking the companies that make parts for the 787 to slow or stop production. Get the full story »
Minnesota AG sues Discover over ‘protection’ fees
Minnesota Attorney General Lori Swanson is suing Discover over allegations that the credit card company charged customers for unauthorized account protection programs such as credit score tracking and identity theft protection.
Swanson filed a lawsuit Monday in Hennepin County District Court against Discover Bank, DFS Services and Riverwoods-based parent company Discover Financial Services. Discover is one of the nation’s largest credit card companies. Get the full story »
Study finds MBAs have biggest ‘mommy penalty’
From The New York Times | A study from two Harvard economics professors released last week found that among highly educated women who take time off from their careers to raise their children, women with MBAs suffer the largest percentage “mommy penalty.” Women with medical degrees suffer the lowest proportionate loss, with lawyers falling somewhere in between.
PrivateBank chooses business banking head
Chicago-based PrivateBancorp Inc. named Thomas Doherty as its managing director and head of business banking, making a key hire in its community banking unit. Get the full story »
Court to hear Wal-Mart discrimination appeal
The Supreme Court will consider throwing out a massive lawsuit that claims Wal-Mart pays women less than men and promotes women less frequently.
The justices stepped into a case Monday that could involve 500,000 to 1.5 million women who work or once worked at the world’s largest private employer. Wal-Mart Stores Inc. calls it the largest employment class action in history.
Ill. company recalls 72,000 lbs of chicken salad
From KTLA TV | The discovery of hard plastic inside packages has prompted a nationwide recall of 72,000 pounds of canned chicken salad sold nationwide under several labels.
The Suter Company, based in Sycamore, Ill., is recalling 8.2-ounce packages of the “Bumble Bee Lunch on the Run Chicken Salad Complete Lunch Kit” and 3.5-ounce packages of “Bumble Bee Chicken Salad with Crackers,” according to a statement released Sunday by the U.S. Department of Agriculture’s Food Safety and Inspection Service.
