The Chicago Reader | Local designer Michelle Tan has opened a boutique in Block 37, and Claudia Kleiner is set to join her there next week.
Verizon: $135.5M invested in Illinois network so far
Verizon Wireless said Thursday it has invested roughly $135.5 million in its network in Illinois during the first nine months of the year, laying the groundwork for the planned Chicago launch of its 4G network by the end of 2010.
Company spokeswoman Carolyn Schamberger said Verizon’s total Illinois investment for all of 2009 was $168 million, putting the operator on track to outspend last year’s investment. A direct nine-month comparison was not available.
Verizon announced Wednesday that it will light up its 4G wireless network in 38 metropolitan areas, including Chicago, by year-end. In the Chicago area, the 4G network will cover more than 7 million people, T.J. Fox, Verizon’s region president for Illinois and Wisconsin, told reporters on a Thursday call. Get the full story »
The most popular color for cars: Silver?
Next time you’re stuck in traffic, take the time to count the number of silver and gray cars on the road. Odds are, you are seeing more than ever.
Shades of silver and gray reached a record high in popularity this year, accounting for 31 percent of the 2010 model-year vehicles, according to PPG Industries, the Pittsburgh, Penn.-based commercial coatings manufacturer. That is the highest level since PPG began recording the data in 1990, and is up from 25 percent last year and 20 percent in 2008.
While no one has done a definitive study as to why silver rates as the favorite car shade, the economic downturn could have something to do with it, said Jane Harrington, manager of color styling at PPG offices in Troy, Mich., where PPG is holding its Automotive Color Trend Show. Get the full story »
Ohio chain brings ‘East Coast Subs’ to Chicago
(Image courtesy penn-station.com.)
Penn Station East Coast Subs, a cheesesteak-and-fries chain based in Milford, Ohio, has opened its first Chicago area location in Lombard.
The chain expects to have 20 Chicago area locations by 2015.
The first franchise partner is Gordon Hahn, previously of Chicago Bread LLC, a franchise group that operates 31 Chicago-area Panera restaurants. Hahn and his son Kevin are partners at the Lombard locations, and expect to open four more around Chicago. Get the full story »
Boeing delivered 124 commercial planes in 3Q
Boeing Co. said Thursday it delivered 124 commercial planes in the third quarter compared with 113 in the third quarter a year earlier. Get the full story »
Oil prices drop as demand concerns resurface
Oil prices retreated on Thursday after rising past $84 a barrel earlier in the session. Benchmark oil for November delivery lost 35 cents at $82.88 a barrel on the New York Mercantile Exchange. Get the full story »
Poverty spikes in suburbs around Chicago
Battered by the downturn, suburbs around Chicago and other cities are bearing the brunt of poverty that has climbed to its highest level in almost a half century.
Job openings increase for second straight month
Job openings rose in August for the second straight month and layoffs dropped sharply, evidence that the job market is slowly healing.
At 4.27%, 30-year mortgage rates lowest on record
A sign offering a lot for sale is planted next to a sold home under construction in Nebraska. Rates on 30-year mortgages fell to a new low for the ninth time in 12 weeks. (AP Photo/Nati Harnik)
U.S. mortgages reached new record lows in the latest week as economic data raised the appeal of safe-haven government debt, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
While rock-bottom rates offer a glimmer of hope for a housing market struggling to find its footing in the aftermath of the expiration of a popular home buyer tax credits, their effect on home loan demand has been modest as a weak jobs market and flailing economy weigh on consumer confidence.
Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 4.27 percent for the week ended Oct. 7, down from the previous week’s 4.32 percent and the lowest on record, according to the survey Rates were also below their year-ago level of 4.87 percent. Freddie Mac started the survey in April 1971. Get the full story »
Southwest traffic, passenger revenue rise in Sept.
Southwest Airlines Co. reported continued growth in September as a rebound continues in the travel and tourism sector.
Airlines have been posting increasing traffic and record portions of plane seats filled lately, after last year’s deep drop in demand in the recession and resulting capacity cuts. Get the full story »
Teen retailers pace Sept. gains in same-store sales
Teen apparel retailers led generally stronger-than-expected same-store sales in September, with a late start to the back-to-school season helping those chains beat Wall Street forecasts.
Department stores and luxury chains also posted forecast-beating results, though retail experts warn the gains could be short-lived as consumers draw up budgets for the holiday shopping season. Get the full story »
Cadillac recalls 4,000 2010 SRX crossovers
Cadillac is recalling 3,996 2010 SRX crossovers for a possible damage to the power steering line.
If the line is damaged, power steering fluid could leak and cause a fire if it comes into contact with hot engine parts.
GM has had one report of such a fire but no reports of related crashes or injuries.
Euro tops $1.40 as dollar weakens
The euro broke above the $1.4000 level Thursday on electronic trading platform EBS as the dollar continued to weaken on concerns about additional U.S. quantitative easing.
The euro last traded up 0.5 percent, at $1.4012 after climbing to $1.4015 on EBS.
Toyota to bring out smaller, larger Prius models
A Toyota Motor Corp. worker checks a newly-assembled Prius at Toyota Tsutsumi Plant in Toyota, Japan. (AP Photo/Shizuo Kambayashi)
Toyota Motor Corp. will sell two variants of the Prius hybrid in the U.S. by the end of 2012, a larger and smaller version, according to two dealers who were briefed about the news.
One Prius will boast 50 percent more interior space and storage than the current model with the smaller one closer in size to the Yaris, said the dealers, who declined to be named because the matter is private. Get the full story »
New jobless claims dip to July level
In a good sign for the job market, the number of U.S. workers filing new claims for jobless benefits unexpectedly fell last week to their lowest level since July 10.
Initial unemployment claims dropped 11,000, to 445,000, in the week ended Oct. 2, the Labor Department said in its weekly report Thursday. New claims for the previous week, ended Sept. 25, were revised upward slightly to 456,000 from 453,000. Get the full story »
