Nov. 4, 2010 at 3:07 p.m.
Filed under:
Investing,
M&A
By Ameet Sachdev
A Lake Forest shell company has agreed to acquire a Cogility Software Corp. that will allow the privately held software company to become publicly traded.
Acquired Sales Corp., which is controlled by Lake Forest investor Gerard Jacobs, plans to acquire Cogility, based in San Jose, in a stock transaction. Terms of the deal were not disclosed. Closing of the deal is contingent on several conditions, including the completion of a 1-for-20 reverse split of Acquired Sales’ stock. Get the full story »
Nov. 4, 2010 at 2:56 p.m.
Filed under:
Airlines,
Airplanes,
Defense,
Manufacturing
By Reuters
Boeing Co. said on Thursday it took a new order for eight 777s, potentially worth $2.7 billion, from BOC Aviation in the week ended Nov. 2.
The company, which competes with Airbus for commercial plane sales, also identified Russian Technologies as the buyer behind an order for 50 737s. The buyer was previously listed as unidentified. Get the full story »
Nov. 4, 2010 at 2:49 p.m.
Filed under:
Exchanges,
Investigations,
Stock activity
By Reuters
The head of the largest U.S. options exchange said a regulator report falls short of explaining what happened in the May “flash crash,” adding to skepticism that has grown since it was released October 1. Get the full story »
Nov. 4, 2010 at 2:21 p.m.
Filed under:
Airlines,
Internet,
Tourism,
Travel
By Reuters
Shares of online travel agency Orbitz Worldwide Inc. tumbled 18 percent on news that American Airlines has threatened to stop selling tickets on Orbitz sites.
Orbitz said American, the fourth-largest U.S. airline, was threatening to pull its content if the travel agency did not use a direct link to the carrier’s inventory instead of a global distribution service, which negotiates prices. Get the full story »
Nov. 4, 2010 at 1:40 p.m.
Filed under:
Advertising/Marketing,
Airlines,
Media,
TV
By Ameet Sachdev
United Airline's plane painted for Oprah Winfrey's final season. (United Airlines)
Look up in the sky. It’s a bird. It’s a plane. No, it’s Oprah. Actually, it’s a plane sporting Oprah Winfrey’s logo with the familiar big looping “O.”
On Thursday, United Airlines unveiled a newly painted plane at O’Hare International Airport commemorating the 25th and final season of “The Oprah Winfrey Show.” The Boeing 757’s tail is blue with Winfrey’s signature, with the words “The Farewell Season” painted on the fuselage. Get the full story »
Nov. 4, 2010 at 12:41 p.m.
Filed under:
Economy,
Energy,
Government
By Associated Press
There’s one place holiday shoppers probably won’t find a bargain this year: At the gas pump.
There is plenty of oil and gasoline on hand, and pump prices usually fall this time of year. So what’s causing the run-up? Most analysts point to the Federal Reserve’s $600 billion economic stimulus effort. Get the full story »
Nov. 4, 2010 at 12:33 p.m.
Filed under:
Bank failures,
Banking,
Government
By Becky Yerak
Broadway Bank, the lender once owned by the family of losing U.S. Senate candidate Alexi Giannoulias, attracted only one bidder when it failed in April, newly released records from the Federal Deposit Insurance Corp. show. Get the full story »
Nov. 4, 2010 at 12:20 p.m.
Filed under:
Housing,
Real estate
ELITE STREET | Bob Goldsborough | Interested in renting a luxury Gold Coast condominium unit from Billy Corgan?
Corgan, the Smashing Pumpkins lead singer and chief songwriter, is continuing to ask $3.55 million for his vintage 3,700-square-foot condo on the Gold Coast, but he has added a new twist: he also is offering the renovated full-floor unit for rent for $10,000 a month. Get the full story »
Nov. 4, 2010 at 11:45 a.m.
Filed under:
Food,
Health care,
Insurance
By Becky Yerak
(State Farm photo)
Setting your house on fire is sure way for your Thanksgiving Day to end up a turkey. But it happens every year.
Bloomington-based State Farm alone says that during the past five years it has received more than 160 damage claims related to Thanksgiving cooking accidents. Of the 10 states with the most claims, Texas ranks first, with 33 claims in that time period, while Illinois and Ohio round out the top 3, with 22 and 18, respectively. Get the full story »
Nov. 4, 2010 at 11:44 a.m.
Filed under:
Food,
Restaurants
By Dow Jones Newswires
Chipotle Mexican Grill Inc. is developing an Asian restaurant concept modeled after the successful fast-casual burrito chain.
Chipotle founder and co-Chief Executive Steve Ells and a small team from the company are developing the concept, whose name wasn’t disclosed. They plan to open one location next year. Get the full story »
By Bruce Japsen
The chief executive officer of the American Medical Association will step down when his contract expires next June as the Chicago-based national doctor group embarks on an uncertain political environment for physicians under the health care overhaul law.
Dr. Michael Maves, who is 62 years old, has served as the organization’s top administrator since 2001, working under the direction of the AMA’s board of trustees. Maves said in a statement that the end of his contract presents an opportunity to transition to new leadership for the AMA, the nation’s largest doctor group with more than 200,000 member physicians. Get the full story »
Nov. 4, 2010 at 11:25 a.m.
Filed under:
Chicago executives,
Pharmaceuticals,
Retail,
Updated
By Bruce Japsen
Walgreens chief executive officer Greg Wasson this morning said the drugstore chain will step up investments in services to help Americans manage chronic diseases, saying the company wants to capitalize on what he called the “retailization” of the nation’s health care system.
The Deerfield-based pharmacy giant, meeting with Wall Street analysts and investors, said it wants to continue to expand its network of medical care providers and the services they provide. Walgreens increasingly has been lobbying to give pharmacists a greater role in medical care such as providing immunizations in its stores as well as establishing retail health clinics staffed by nurse practitioners. Get the full story »
Nov. 4, 2010 at 11:17 a.m.
Filed under:
Consumer electronics,
Earnings
By Reuters
Circuit protection products maker Littelfuse Inc. posted quarterly results that beat Street expectations, helped by the strong performance of its electronics unit, but said it saw sales slowing down in the fourth quarter.
The Chicago-based company expects fourth-quarter earnings of 75-85 cents a share, on revenue of $138-$145 million. Get the full story »
Nov. 4, 2010 at 11:15 a.m.
Filed under:
Exchanges
By Reuters
ELX Futures said on Thursday its stakeholders recently injected “many millions of dollars” into the small U.S. Treasury futures exchange to help it expand to incorporate over-the-counter swaps and other products.
Neal Wolkoff, chief executive of the year-and-a-half-old market which is trying to take on futures giant CME Group Inc., said they did this in the last 10 days. He called it “a generous amount of money,” but did not say how much. Get the full story »
Nov. 4, 2010 at 10:23 a.m.
Filed under:
Beverages,
Food,
Jobs/employment,
Layoffs,
Management
By Reuters
(Reuters)
Four years ago, generous benefits and opportunities for advancement convinced Leigh Swanson to use her new master’s degree in human resources to manage a Starbucks cafe. She called it one of the best workplaces she had ever experienced.
Then, in 2007, with the coffee chain in the midst of a building binge, the worst downturn since the Great Depression hit, hammering Starbucks’ bottom line. Sharp cost-cuts, the introduction of corporate efficiency tools like scheduling software and an increased emphasis on pushing product sales have helped the company return to record profitability.
They also led Swanson to quit in May. The disappearing perks and the financial fixes dampened her enthusiasm for recruiting potential new partners, as Starbucks calls its employees. “I found it really sad. I was really invested,” said Swanson, who was in charge of a Starbucks in the Florida Panhandle. “I just didn’t feel proud anymore. I wasn’t in it to manage a McDonald’s.” Get the full story »
