ELITE STREET | By Bob Goldsborough | New Chicago Bulls head coach Tom Thibodeau has leased a three-bedroom row home just west of downtown Highland Park for $4,900 a month.
In June, Thibodeau, 52, inked a three-year, $6.5 million deal with the Bulls. On July 23, Thibodeau signed another contract to rent the eight-room home, which was built in 2007. It has three full baths, two half baths, one fireplace, a gourmet kitchen, a study, an elevator and a finished lower level. Get the full story »
Reports: Personal income and spending for September, 7:30 a.m.; ISM manufacturing index for October, 9 a.m.; Construction spending for September, 0 a.m.
Major earnings: Corning Inc., Humana Inc.
A group of hedge funds sued the four banks that funded Tribune Co.’s 2007 leveraged buyout, alleging that the lenders knowingly rendered the company insolvent and precipitated its 2008 bankruptcy.
The suit, filed on Friday in New York state court, charges JPMorgan Chase, Merrill Lynch Capital Corp., Citicorp North America Inc. and Bank of America with breach of contract, breach of good faith and negligence. It asks the court to set damages. Get the full story »
Conrad Black, the wealthy Canadian who was chairman of a Chicago-based newspaper empire, may be headed back to prison after two of his crimes were upheld on appeal.
The 7th U.S. Circuit Court of Appeals in Chicago reviewed Black’s 2007 fraud conviction for a second time, after the Supreme Court called it into question in June. In a unanimous ruling Friday, the appellate court affirmed Black’s guilty verdicts on one count of defrauding Hollinger International Inc. and obstruction of justice but vacated two of his fraud convictions. Get the full story »
Navistar International Corp. has announced plans for a new testing facility at its plant in the Chicago suburb of Melrose Park.
Navistar leaders said Friday that they plan to invest up to $90 million in the 80-acre campus over the next few years. Get the full story »
U.S. health regulators say a recalled Medtronic Inc. tissue device could cause more problems than originally thought, the company said Friday.
The device maker recalled its Octopus Nuvo Tissue Stabilizer in September because part of it could break, leading to fragments falling into patient chests and damaging the heart. Get the full story »
YouTube co-founder Chad Hurley is stepping down as CEO of the world’s most popular Web site for watching video.
Hurley’s decision to give up the leadership role at the 5-year-old site formalizes a transition that has been in the works for some time as YouTube’s owner, Google Inc., asserted more control. Get the full story »
Northwestern University said Dr. Jeffrey Glassroth has been named interim dean of the Feinberg School of Medicine, effective Jan. 1.
Glassroth is president and chief executive of the Northwestern Medical Faculty Foundation, a 700-member doctor practice affiliated with Northwestern Memorial Hospital. He is also vice dean of Feinberg School of Medicine. Get the full story »
Tower Ticker | Dish Network and News Corp. announced an agreement on carriage fees Friday. This averts removal of Fox-owned broadcast stations. It also restores cable channels FX and National Geographic, as well as 19 Fox regional sports networks, that were taken off the satellite service four weeks ago as negotiations dragged on.
Dish’s contract to carry the cable channels had expired at the end of September. Its contract to carry Fox-owned broadcast stations such as Chicago’s WFLD-Ch. 32 and WPWR-Ch. 50 was set to expire at the end of this month, which put Dish subscribers at risk of losing World Series baseball, Chicago Bears football and shows such as “Glee,” “House” and “Family Guy” as of Monday.
The Securities and Exchange Commission on Friday obtained an emergency court order to freeze the assets of Brewer Financial Services LLC and Brewer Investment Advisors LLC, two Chicago firms it alleged were funneling funds from investors to subsidize their own troubled companies.
The SEC alleged that firm owners Steven Brewer and Adam Erickson raised about $5.6 million from 74 investors between June 2009 and Sept. 30, 2010, using offering materials that misstated or concealed how the funds would be used, the risk level of the investment and the financial condition of their companies. Get the full story »
New York Times | Paul Kolton, founder of the Chicago Board Options Exchange who went on to become the he first paid chairman of the American Stock Exchange, has died at age 87.
The Robert R. McCormick Foundation said Friday that it will give $5 million toward the University of Chicago Medical Center’s new $700 million hospital pavilion, slated to open in 2013.
In awarding the grant, the foundation said it was given as part of the nonprofit’s commitment to “civic health.” The primary entrance to the new Hospital Pavilion will be named the McCormick Foundation Lobby in recognition of the gift, the U. of C. Medical Center said. Get the full story »
For TV viewers, this cutthroat election year is a riot of attack ads and media saturation made possible by big-money donors. For TV stations, it’s a stimulus package.
One research group expects TV political spending to hit a record $3 billion. The windfall may continue well past Election Day because regular advertisers are getting squeezed out of the schedule and could spend their ad budgets later.
A New Orleans federal judge overseeing litigation on the Deepwater Horizon drilling disaster signed an order to release materials Halliburton used in the cementing job on BP’s blown-out Macondo well to federal investigators. Get the full story »
A group that lobbies against fast food and meat consumption will ask Mayor Richard Daley to temporarily stop fast food restaurant construction.
In a Nov. 4 letter shared with the Tribune, a director of nutrition at The Physicians Committee for Responsible Medicine writes that fast food consumption leads to obesity and heart disease.
“This step is urgently needed because Chicago’s high-fat, meat-heavy diets are literally breaking hearts,” Susan Levin, the director of nutrition, writes. “A moratorium on new fast-food restaurants could be a critically important step toward fighting this epidemic.” Get the full story »
