Southwest cancels 70 flights, shares down 4%

Southwest Airlines Co canceled 70 flights on Monday as it continued to inspect Boeing 737 planes following the emergency landing on Friday of a jet with a hole in its fuselage.

Spokeswoman Whitney Eichinger said 70 flights systemwide were canceled for Monday out of about 3,400 daily flights. Of 79 older Boeing 737-300 planes that were designated for additional inspections after the Friday incident, 33 had been returned to service, she said. Get the full story »

Job worries drive growth in plastic surgery

Eye lifts lead the growth in plastic surgery. (Reuters)

As the U.S. economy gets a lift, so do faces. More than 13 million cosmetic plastic surgeries were performed in the U.S. during 2010, up 5 percent from 2009, according the American Society of Plastic Surgeons, or ASPS.

Phillip Haeck, president of the ASPS, has noticed a sharp increase in plastic surgeries in his own practice. And much of his business is coming from men over the age of 55 who are concerned about keeping their jobs. Get the full story »

Transocean execs get big bonuses after spill

Declaring 2010 “the best year in safety performance in our company’s history,“ Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission. Get the full story »

Windows 8 is coming soon for PCs, tablets

Information screen for Windows 8. (Microsoft)

While most of the world has yet to upgrade to Windows 7, Microsoft is gearing up to launch the next version of its PC operating system.

Web forums lit up last week with the news that PC manufacturers had just gotten their hands on a new Windows 8 test build. Several analysts reported that equipment makers had received “early beta“ test versions of the operating system. Get the full story »

McDonald’s to hire 50,000 in April

To nab the attention of top-flight job candidates, McDonald’s is tackling the image of a “McJob” with a weeks-long advertising and public-relations campaign leading up to April 19, when McDonald’s Corp. plans to hire 50,000 store-level employees.

5 top Goldman execs took home $69M in ‘10

Goldman Sachs Group Inc.  paid its top five executives a total of $69.6 million in cash and stock last year as the firm rebounded from the austerity imposed during the financial crisis.

That is up from total 2009 compensation for the five of $5.3 million, according to the firm’s annual proxy filing on Friday. Get the full story »

Quinn unveils proposed workers’ comp reforms

Monique Garcia and Ray Long | Clout Street| Gov. Pat Quinn on Friday unveiled his proposed overhaul of the state’s workers’ compensation system, suggesting changes his office says will save employers money while preventing potential abuses that have attracted the attention of downstate federal prosecutors.

The governor’s plan to change the way workers are paid after injury or illness on the job includes limiting payments for injuries such as carpal tunnel syndrome and slashing the amount doctors and hospital receive for treating hurt workers.

Facebook exec fired for stock acquisition

Facebook Inc. fired a senior manager for buying shares of the social networking powerhouse in a private, secondary-market transaction last September — four months before Goldman Sachs Group Inc.  announced its investment in Facebook, the Web site TechCrunch reported Friday, citing multiple sources. Get the full story »

Fannie, Freddie execs paid $35M in last 2 years

Top executives at Fannie Mae and Freddie Mac were paid handsomely in the last two years, while the government agency in charge of regulating the bailed-out mortgage backers was ill-equipped to do anything about it, according to a federal review. Get the full story »

March auto sales gains riding in small cars

Most major automakers raced past expectations for U.S. sales in March as buyers flocked to smaller, more fuel-efficient cars in response to rising gasoline prices at the pump. Get the full story »

FDA wants more food places to list calories

The  Food and Drug Administration, which has proposed posting calorie information at chain restaurants and on vending machines, suggested a broader mandate Friday afternoon, to include airplanes, bowling alleys and other places where food is sold. Get the full story »

Ford’s Mulally pay package up 48%

Ford Motor Co. Chief Executive Alan Mulally’s total compensation rose 48 percent to $26.5 million in 2010 when the automaker reported its best net profit in a decade. Get the full story »

More than 26K new loan mods in February

About 26,147 struggling borrowers received new loan terms as part of President Barack Obama’s much-maligned foreclosure prevention program, the Treasury Department said Friday. Get the full story »

Local Offer Network raises $1.5M

Local Offer Network, a Chicago technology company that aggregates daily deals from providers such as Groupon, has raised $1.5 million in a Series A round led by Matthew Pritzker and IllinoisVentures. Get the full story »

Toyota wins jury verdict in acceleration case

A federal jury decided Friday that Toyota Motor Corp. was not negligent in the design of a 2005 Scion, which a New York doctor said caused the vehicle to accelerate unexpectedly and smash into a tree, the automaker said. Get the full story »