A new side-imbroglio has broken out in the Tribune Co. bankruptcy, highlighting the often incestuous world occupied by big-time bankruptcy attorneys.
Let’s see if we can sort it all out … Get the full story »
Nov. 12, 2010 at 7:42 p.m.
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Filed under: Bankruptcy, Litigation, Media, Newspapers, Private equity New Tribune Co. lawyer spat breaks out
San Francisco mayor vetoes kids’ meal toy ban
San Francisco’s mayor has vetoed legislation that would ban toys from fast-food children’s meals, though it’s still expected to become law.
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Amazon to hire more than 15,000 for the holidays
Amazon.com Inc. said Friday that it is hiring more than 15,500 people to fill temporary holiday jobs at shipping centers around the country, more than it hired last year.
The online retail giant said in news releases that it will hire more than 5,000 people in Phoenix and Goodyear, Ariz., and 4,000 in Pennsylvania at locations including Allentown, Hazleton and Lewisberry. Get the full story »
Fortune Brands reportedly considering a breakup
Fortune Brands Inc., the maker of Jim Beam bourbon and Moen faucets, is growing likely to cooperate with activist shareholder William Ackman on a plan to split up the company’s three business units, people familiar with the matter said.
There is no guarantee that efforts to spin off or sell the golf equipment, spirits and home-products businesses will succeed, given the complexity inherent in untangling and valuing the three divisions, the people cautioned. Get the full story »
JetBlue adds former Gen. McChrystal to board
Discount carrier JetBlue Airways Corp. has named to its board Stanley McChrystal, the retired general who lost his job as the top U.S. Afghanistan commander after making inflammatory comments about the Obama administration this year.
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Reinkemeyer to leave Morningstar unit
By Dawn Rhodes | The president of Morningstar Associates, a unit of Morningstar Inc., is leaving the company next month, according to company officials.
Patrick Reinkemeyer will step down Dec. 15 but will remain as a consultant until Dec. 15, 2011. Get the full story »
767 latest Qantas jet to turn back in flight
A Qantas Boeing 767 has turned back on a domestic flight in Australia after pilots detected abnormal vibrations in one of the plane’s engines.
No one was injured in Friday’s incident, which comes after a Rolls-Royce engine on one of the airline’s Airbus A380s superjumbos disintegrated in flight last week. Get the full story »
Nov. 12, 2010 at 3:23 p.m.
Filed under: Construction, Entertainment, Government, Sports, Taxes, Updated Ricketts seeks $200M in state aid for Wrigley
(Tribune file)
The owner of the Chicago Cubs is asking the state to help finance more than $200 million in renovations at Wrigley Field that will ensure the team stays at the historic ballpark for the next 35 years.
The Ricketts family, which purchased the team last year from Tribune Co. in a deal valued at $845 million, has pledged that the project will not be financed by new taxes or an increase in existing taxes, but it would redirect some future revenue to the stadium. Get the full story »
State warned on more borrowing to fund pensions
If Illinois borrows to make its annual contribution to state retirement systems for a second year running, the back-loaded payment plan on those bonds will cause interest costs to skyrocket, a Civic Federation analysis found.
Interest costs would total an estimated $1 billion if the state issues about $3.7 billion in bonds to make its required contribution to the state’s five pension funds in fiscal 2011, which began July 1. The bonds would be paid off over eight years. Get the full story »
Herencia back in banking with SKBHC Holdings
Roberto Herencia, the longtime president of Banco Popular North America who went on to head Midwest Banc Holdings Inc., is back in the banking industry.
Herencia has joined the board of SKBHC Holdings, which on Oct. 26 got Federal Reserve approval to become a bank holding company. Its investors include an Illinois pension plan. Get the full story »
Oak Park River Forest bank ordered to raise money
Crain’s Chicago Business | State and federal bank regulators have issued an order, requiring the Community Bank of Oak Park River Forest to raise capital though the amount is unclear.
Ireland in aid talks with EU, rescue likely
Ireland is in talks to receive emergency funding from the European Union and is likely to become the second euro zone country after Greece to obtain an international rescue, official sources said on Friday.
Irish borrowing costs have shot to record highs this week because of concern about the country’s ability to reduce a public debt burden swollen by bank bailouts, and worries that private bond holders could be forced to shoulder part of the costs of any bailout by taking “haircuts” on their holdings. Get the full story »
Orbitz launches free mobile apps for booking travel
Orbitz Worldwide Inc. has launched free mobile applications for the iPhone and Android platforms that allow users to book hotels, flights and rental cars.
In addition, the Chicago-based online travel company has updated its mobile Web site, which has been live since July but whose debut went unannounced. Get the full story »
NU’s Kellogg selects site for new building
By Dawn Rhodes | The new site for Northwestern’s Kellogg School of Management will concentrate the school’s resources in one place and potentially open a central location for its student center, according to university officials.
The Board of Trustees approved Thursday’s proposal to put the new building on the northeast part of campus, between the James L. Allen center, which houses the Executive Education Center, and Lakeside Fields where the lacrosse, soccer and field hockey teams play. Currently, a parking lot occupies that space. Get the full story »
