By Chris Jones | A group of investors have purchased the Mercury Theatre at 3745 N. Southport Ave., and plan to reopen it for live entertainment. The theater has been closed since its owner suffered a serious stroke in January.
Oct. 5, 2010 at 12:22 p.m.
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Filed under: Commercial real estate, Entertainment, Real estate Investors to revive Mercury Theatre
Chase reports brief Web site outage
A few weeks after Chase had major technical issues with its online banking site, many of its users reported Tuesday that they were unable to log into the Web site. A Chase spokesman said that the site went down around 11:30 a.m. for several minutes, but is now back up.
Binny’s to move into vacant Circuit City store in Bolingbrook
Binny’s Beverage Depot is moving into a vacant Circuit City store in Bolingbrook as the family-owned chain of liquor stores continues to expand.
The 22,000-square-foot store at the Promenade Bolingbrook is slated to open by the middle of the month, according to owner Michael Binstein. The opening will bring the retailer’s number of stores to 25, all in the Chicago area. Get the full story »
Allstate sues Toyota over acceleration claims
Allstate Corp. has sued Toyota Motor Corp. over sudden-acceleration-related claims it has paid, alleging that the accidents were caused by vehicle defects.
Apollo approached Sara Lee about buyout
Private equity firm Apollo Global Management approached food company Sara Lee about six weeks with regards to a deal, a source familiar with the matter said on Monday.
It was unclear if anything will come of that approach.
A deal would likely to have been struck in conjunction with investor C. Dean Metropoulos, a Connecticut entrepreneur known for reinvigorating food brands, who is an operating partner of Apollo, the source said. Get the full story »
Oct. 5, 2010 at 10:20 a.m.
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Filed under: Bankruptcy, Management, Media, Newspapers, Radio, TV, Updated Eisner says he’d advise, not run, Tribune Co.
Former Disney Co. chief Michael Eisner denied rumors Tuesday morning that he will become chairman of a post-bankruptcy Tribune Co.
In an interview with WGN-720 AM host Greg Jarrett, Eisner acknowledged that he had bought Tribune debt as an investment and knew some of the principals involved, but said a journalist “put 2 and 2 together and got 11″ in speculating that Eisner would move into the top job at Tribune. Get the full story »
Microsoft presents its answer to Apple’s iPad
Microsoft CEO Steve Ballmer shows Slate PCs during his keynote speech before the 2010 Consumer Electronics Show in January. The company plans to introduce a new slate to counter the iPad. (Reuters)
A Microsoft slate to counter Apple’s popular iPad tablet computer will be seen by the Christmas holiday, Microsoft’s Chief Executive Steve Ballmer said on Tuesday.
Ballmer did not say whether the palm-sized slates would actually be on sale in time for Christmas, nor did he say who would make them. Microsoft has been slow to respond to the iPad, and has also made little headway in mobile phones.
“You’ll see new slates with Windows on them. You’ll see them this Christmas,” he told an audience of students, staff and journalists at the London School of Economics. Get the full story »
Potash slams report on BHP takeover proposal
Potash Corp. slammed a report commissioned by the province of Saskatchewan that favors BHP Billiton’s $39 billion offer for the fertilizer maker over a potential bid from a state-owned Chinese entity.
The Conference Board’s report, released on Monday, cautioned the provincial government against thwarting BHP’s takeover bid, saying that would depress Potash Corp’s share price and could have a negative impact on new investment in the province. Get the full story »
Geography plays into anti-counterfeiting trade deal
The United States and European Union have reached a compromise over the use of geographical food names such as Champagne and Parma, clearing one of the last obstacles to an international pact to battle the growing trade in counterfeit goods.
“We found the solution even on that toughest of issues,” a U.S. trade official told Reuters, referring to a deal struck over the weekend in Tokyo on the proposed Anti-Counterfeiting Trade Agreement between nearly 40 countries. Get the full story »
Swiss research center to develop gum, candy for Kraft
Kraft Foods Inc. has opened a gum and candy research center in Switzerland, where it will develop products for top brands such as Trident.
The company said Tuesday it has spent more than $14 million on the European Kraft Foods Gum and Candy Research & Development Center in Eysins. Get the full story »
IMF warns of continued risks to world economy
Risks to financial stability remain elevated due to a combination of slow global growth, high sovereign debt burdens and continuing weakness in the banking sector, the International Monetary Fund warned in a report released Tuesday.
In a report published during its annual meetings in Washington, the IMF highlighted persistent risks to the banking system from high debt levels in mature economies and resulting tensions on sovereign bond markets, particularly in Europe. Get the full story »
Brookfield execs to lead new General Growth board
General Growth Properties Inc. on Tuesday named the nine members of the board of the company that will emerge from bankruptcy protection and take the No. 2 U.S. mall owner forward.
General Growth said Bruce Flatt, chief executive of Brookfield Asset Management, will be the chairman upon emergence from bankruptcy in early November. Get the full story »
Walgreen sales rise in September, topping forecasts
U.S. drugstore chain Walgreen Co. on Tuesday posted a stronger-than-expected rise in September same-store sales on strong demand in its pharmacy business. Get the full story »
FAA puts 10 miles between 787, trailing planes on landing
The Federal Aviation Administration has issued an interim requirement that planes landing after either of Boeing’s two new airplanes, the 787 Dreamliner and the 747-8 jumbo jet, stay at least 10 miles behind.
The current requirement for large airplanes, including the 747-400 in service, is just 4 miles separation from other heavy jets and up to 6 miles from light aircraft. Get the full story »
San Francisco a step closer to kids’ meal toy ban
A recommended San Francisco ban on kids' meal toys, which would affect primarily McDonald's. (AP)
San Francisco’s planning commission has recommended a full vote on a partial ban on toy sales with children’s meals at fast food restaurants. The proposed legislation would make it illegal for toys to be given alongside kids’ meals that didn’t meet certain criteria.
The city’s board will take a full vote that could result in legislation in a few weeks. As the biggest player in this space, Oak Brook-based McDonald’s is at the center of this storm. Get the full story »
