Burger King Holdings Inc .said it did not get any superior buyout offers during the “go-shop” period following its agreement to sell itself to investment firm 3G Capital for $3.26 billion.
The world’s second-largest hamburger chain had time until Oct. 12 to solicit a richer offer from other buyers. Get the full story »
From the Daily Herald | Schaumburg officials said construction on its 26th hotel is moving forward, as hotel occupancy in the Northwest suburbs continues to rebound. The new hotel will be a Cambria Suites, a business-oriented hotel chain, will be built at the northwest corner of Roselle Road and I-90.
A 62-year-old man was crushed to death by a machine at the Nabisco Biscuit Co. on the Southwest Side, officials said. Patrick Lynch, of the 9300 block of South Parkside in Oak Lawn was pronounced dead at 3 a.m. at Advocate Christ Medical Center in Oak Lawn, according to the Cook County medical examiner’s office.
Baristas participate in espresso training at Starbucks, Feb. 26, 2008. (Keith Bedford/Handout)
From the Wall Street Journal | Starbucks customers could be stuck in longer lines now that the company has told baristas to slow down and only work on two beverages at a time. The Wall Street Journal reviewed company documents instructing employees to steam milk for each drink individually, rising pitchers after each use and using only one espresso machine. The changes are designed to address criticisms about assembly-line coffee. Get the full story>>
JPMorgan Chase & Co, the second largest U.S. bank by assets, said its quarterly profit jumped 22 percent, helped by lower loan losses in its retail and credit card units. New York-based JPMorgan, the first of the banks to report third-quarter earnings, has like its peers struggled to make new loans this year, even as losses on bad mortgages and credit cards have eased. Get the full story »
Major earnings: JPMorgan Chase
Days after Tribune Co.’s corporate management was characterized in a newspaper article as fostering a sexist “frat house” atmosphere, one of its top executives sent a company-wide e-mail with links to off-color satirical videos.
Among the videos was one the executive, Lee Abrams, labeled “Sluts” in which a gyrating woman appeared to pour liquor on her bare breasts.
Abrams, chief innovation officer of Tribune Co., which owns the Chicago Tribune, apologized “to everyone who was offended” in another company-wide e-mail Tuesday. Get the full story »
OfficeMax Inc. shares rose 9.3 percent to $15.69 in heavy trading Tuesday after a J.P. Morgan analyst said that the office supply company was ripe for a leveraged buyout.
The Naperville-based retailer is undervalued compared to its larger rivals Staples Inc. and Office Depot Inc., analyst Christopher Horvers said in the report. Even though OfficeMax is five years into a turnaround effort, there is still plenty of room left to restructure the business, he said. The report valued OfficeMax at $28 a share, citing the company’s cash pile along with a slew of expiring leases that would allow OfficeMax to move to higher traffic locations and open smaller, more productive stores. Get the full story »
The American Medical Association has been sued for using a girl’s image without authorization and in a false light in a marketing campaign launched in 2007, aimed at motivating politicians to tackle the issue of Americans without health insurance.
One of AMA’s print advertisements featured a girl named “Toya.” The ad says that Toya has a “severe” problem but her parents can’t afford health insurance. The same picture of Toya was featured on the AMA’s web site under a section called “stories of the uninsured.”
A Cook County lawsuit filed Friday said that Toya is China Travis, a girl from the Chicago area who has done some modeling. Her mother, Angela Wonsey, claims the ad is misleading and defamatory because Travis does not have a severe health problem and both of them are not “uninsured.” Get the full story »
Baxter International Inc. Chief Executive Bob Parkinson shook up his management team, disclosing this afternoon the departure of two senior executives and a plan to combine the company’s renal and medication delivery businesses into a “single global unit.”
The move essentially turns Baxter into a company focused on two divisions: medical products and bioscience treatments. The medical products business will include medication delivery devices such as intravenous systems while the bioscience business will include drugs to treat immune system disorders and blood diseases such as its flagship drug Advate to treat people with hemophilia. Get the full story »
Like rival American Airlines, United Airlines wants to expand its reach into China and has asked federal officials for permission to begin daily flights from Los Angeles to Shanghai starting in May 2011.
The new service would expand United’s reach in Asia’s booming air travel market, which has rebounded from the recent global recession faster than the U.S. and Europe.
Chicago-based United also seeks to take advantage of additional flights between the U.S. and China that will become available in 2011 under a recent trade agreement that loosened the tightly regulated market for air travel between the two countries. Get the full story »
From Fox Business News | Wintrust Financial said Tuesday it had appointed David E. Lee chief operating officer of Lake Forest Bank & Trust.
Manufacturers enjoyed big gains on Wall Street in the third quarter, outperforming the S&P 500, as signs of a faltering U.S. recovery sent investors piling into companies like Caterpillar Inc. and Cummins Inc. that generate most of their sales overseas.
But the sustainability of those gains will be tested this month as the big industrials report their quarterly results and update investors on the outlook for the rest of the year. Get the full story »
Apple Inc.’s stock flirted with $300 Tuesday as investors high on the iPad’s promise pushed shares to a record peak. Analysts see few reasons to believe shares will stop there. Get the full story »
The Microsoft store planned for Oakbrook Center in Oak Brook will open on Nov. 4, making the Chicago-area location the fifth such store for the technology giant.
Microsoft’s first store opened a year ago in Scottsdale, Arizona and the company also has locations in Mission Viejo, Calif., Lone Tree, Colo., and San Diego. Get the full story »
