As many as 138 million U.S. shoppers could be hunting for Black Friday bargains during the three days after Thanksgiving, a slight increase over last year’s projections, according to a retail trade group survey released Thursday.
Nearly 60 million Americans plan to hit the stores, more than last year’s forecast of 57 million, while an additional 78 million might join the crowds of shoppers this year if the bargains are good enough, the National Retail Federation said. Get the full story »
Primo Water Corp. said yesterday in a regulatory filing that it has completed the purchase of Culligan Stores Solutions, a unit of Culligan International Co. of Rosemont for $60 million in cash and $45 million in stock.
The Culligan group generates filtered water for refill vending machines and store-use water services in 4,500 retail stores in the United States and Canada. Culligan also sells empty reusable bottles at the sites. Get the full story »
From the New York Post | Oprah Winfrey yesterday toured a $68 million mansion for sale on the grounds of the former Frick estate in Alpine, N.J. before heading north to look at another property a few miles north in Snedens Landing. Get the full story>>
Ireland’s central bank chief said on Thursday he expected Dublin to receive tens of billions of euros in loans from European partners and the IMF to shore up its shattered banks though the government said it had made no request yet. Get the full story »
The Internal Revenue Service said on Wednesday it currently holds $164.6 million in undelivered refund checks for 111,893 nationwide taxpayers. Four million of that money is set aside for 3,618 Illinois taxpayers. The IRS was initially unable to deliver the checks because of mailing address errors.
Sears Holdings Corp. reported a larger quarterly loss, citing tepid sales of apparel and appliances at its namesake department stores.
The company, which also operates Kmart discount stores, said its net loss widened to $218 million, or $1.98 a share, in the third quarter ended on Oct. 30 from $127 million, or $1.09 a share, a year earlier. Sales at the company, led by hedge fund manager Edward Lampert, fell about 5 percent to $9.68 billion. Get the full story »
Reports: Weekly jobless claims, 7:30 a.m.; Freddie Mac, releases weekly mortgage rates; Leading indicators for October, 9 a.m.
Major earnings: Dell Inc., Gap Inc., Sears Holding Corp., Staples Inc.
The stock market is poised to perform well in 2011, but the job market … not so much. That was economic outlook offered by several Chicago-area business experts at a forum Wednesday evening, where some also demanded that city and state politicians tackle swelling fiscal problems.
“I spend a lot of time talking with [company executives] and almost without exception in the last six weeks of the earnings season, the calls have been going better and better,” said John Rogers Jr., chairman and chief executive officer of Ariel Investments. “The CEOs seem more confident, the balance sheets are strengthened and they are starting to talk about hiring again.” Get the full story »
Denver-based investment bank Headwaters MB has created a financial institutions practice that’ll be headquartered in Chicago and focus on mergers and acquisitions and capital raising for banks with assets of up to $3 billion.
“There’s a significant opportunity to participate in the impending wave of industry consolidation,” said Managing Director Eliot Stark, who before joining Headwaters worked for Chicago-based investment bank Capital Insight Partners. Stark also once served as a corporate development, finance and planning executive for Comerica Bank, where he was involved with dozens of M&A transactions. Get the full story »
The U.S. Treasury will raise gross proceeds of at least $11.8 billion in the General Motors Co. initial public offering, reducing its ownership stake in the bailed-out automaker to just under 37 percent. Get the full story »
Despite a deluge of complaints over intrusive pat-downs and revealing airport scans, the government is betting Americans would rather fly safe than untouched. “I’m not going to change those policies,” the nation’s transportation security chief declared Wednesday. Get the full story »
Harry Caray’s Tavern in Wrigleyville will be renamed “Benchwarmers” next week, after the parties that owned and managed the restaurant terminated their business relationship.
Harry Caray’s Tavern opened at 3551 N. Sheffield Ave., in 2008, in a spot formerly occupied by Hi-Tops Café. Harry Caray’s Restaurant Group had been retained to manage the Sheffield location, which is owned by Benchwarmers Inc.
Grant DePorter, president of the restaurant group, revealed that the tavern was closing during a press conference held Tuesday by the Chicago Cubs to discuss the team’s plans to renovate Wrigley Field. He attended in a show of support for the team’s project. Get the full story »
Illinois lawmakers are taking a new look at expanded gambling as a way to reduce the state’s massive budget deficit.
Lawmakers have talked for years about adding new casinos or putting slot machines at racetracks, but the proposals have always fallen apart. They’re getting more serious attention now, with the state facing a roughly $15 billion deficit. Get the full story »
Fiat SpA made its official return to the U.S. market after a 25-year absence Wednesday with the unveiling of its Fiat 500 subcompact car at the Los Angeles Auto Show.
The vehicle will be sold primarily in urban centers such as New York, Chicago and Los Angeles.
With a starting price of $15,500, the car will go on sale in about 130 Chrysler Group LLC dealerships across the country starting in January. The price is about $500 less than its main competitor, BMW AG’s Mini Cooper. Get the full story »
