Abbott Laboratories created a Web site for parents and caregivers to check whether their baby formula was affected by Wednesday’s Similac recall.
But families swamped the site and phone hot line Thursday, only to meet a dead end. The overwhelming surge of traffic resulted in busy lines and site problems, leaving parents frustrated by the company’s lack of response. Get the full story »
A United Airlines plane prepares for takeoff at O'Hare. (Chris Sweda/ Chicago Tribune)
Federal officials penalized United Airlines $12,000 for over-reporting its May tarmac delays, even though the flights in question did not violate new rules aimed at eliminating nightmarish ground delays.
The fine is the first issued by Department of Transportation officials related to rules, which took effect April 29, mandating carriers provide passengers with food, water and the chance to exit before a tarmac delay hits the three-hour point. Airlines face fines of up to $27,500 per passenger, or $3 million for a typical Boeing or Airbus narrow-body jet, for any flight that doesn’t comply. Get the full story »
The Lottery announced a new “Cash 4 College” scratch-off ticket Thursday. Five winners get full tuition and any mandatory fees for college. Lottery spokeswoman Tracy Owens says officials hope the new ticket will help fulfill the dream of continued education but without the worry about tuition. Get the full story »
The Federal Communications Commission is opening up unused airwaves between television stations for wireless broadband networks that will be more powerful and can travel farther than today’s Wi-Fi hotspots.
The five-member FCC voted unanimously Thursday to allow the use of so-called “white spaces” between TV stations to deliver broadband connections that can function like Wi-Fi networks on steroids. Get the full story »
The local home sales market failed to regain its momentum in August after tumbling in July, according to new data released Thursday by the Illinois Association of Realtors.
Sales of existing single-family homes and condominiums in the Chicago area rose a scant 1.3 percent in August to 5,561 homes sold, but were still down 19.6 percent from the 7,008 homes sold in August 2009. Get the full story »
McDonald’s Corp. is boosting its quarterly dividend by 11 percent to 61 cents, and analysts expect the world’s biggest hamburger chain to continue returning cash to shareholders while still investing in its restaurants.
Johnny Rockets, the 1950s diner-themed hamburger chain, which has opened a combined restaurant with the Halsted Street Deli on the corner State and Lake Streets in the Loop, will celebrate its grand opening today.
Between 11 a.m. and 3 p.m. the restaurant will be passing out samples of the chain’s classic hamburgers, wings and shakes. Every 15 minutes, guests can also participate in a raffle to win coupons, for a free shake with purchase a hamburger, and Johnny Rockets gift cards. An official ribbon-cutting ceremony will be held at 4 p.m. Get the full story »
Rates on 30-year mortgages this week were unchanged from the previous week, staying slightly above the lowest level in decades.
The average rate for 30-year fixed loans this week was 4.37 percent, mortgage buyer Freddie Mac said Thursday. Earlier this month, the rate dipped to 4.32 percent, which was the lowest level on records dating back to 1971.
Comments from Verizon Communications Inc. CEO Ivan Seidenberg leave little room for the possibility of a Verizon version of the iPhone in the near future.
Speaking to an investor conference Thursday, Seidenberg said nothing about an iPhone for the company’s current network, but said he hopes Apple Inc. will come around and allow Verizon to sell the phone for a new network it’s building. The “4G” network hasn’t yet opened for service and won’t be complete next year. Get the full story »
Macy’s Inc. said it plans to hire about 65,000 seasonal staff for the holiday season — a slight increase from previous years. The rise in hiring reflects Macy’s expectation that same-store sales will grow 3-3.5 percent in the second half of fiscal 2010, the company said in a statement. Get the full story »
Free Bud, Sept. 29. (AP)
This Bud’s for everybody. In response to slipping sales, Anheuser-Busch is handing out free beer. The company will host a “National Happy Hour” on Sept. 29, according to several news outlets, in an attempt to woo some consumers to its brew, and remind others why they used to drink it.
“On-premise sampling is the old standby of point-of-purchase sales tactics,” Beer Business Daily editor Harry Schumacher noted in an email to subscribers this morning. “You buy people beers in bars, they like it and they like you, and then it drives off-premise sales.” Get the full story »
A Starbucks store in New York. (AP)
After declaring its resolve last month to absorb increases in the cost of green coffee, Starbucks Corp. said it will raise prices on some of its drinks.
The Seattle coffee giant said Wednesday that the price of green Arabica coffee, which is close to a 13-year high, and price volatility for other raw materials it uses, such as dairy products sugar and cocoa, have forced it to respond. Get the full story »
A customer shops for TVs at Best Buy. (AP Photo/Ron Heflin)
An historically large oversupply of LCD TV panels is causing television prices to fall right in time for the holiday shopping season.
By the end of this month, LCD TV prices will be about 5 percent lower than they were at the same time last year, according research firm DisplaySearch. But a tailspin will start in October: In the last three months of the year, the firm forecasts that prices will keep falling until they bottom out at 12 percent below 2009 levels. Get the full story »
Blockbuster's existing stores will remain open. (AP)
Blockbuster Inc. announced early Thursday that the company and its U.S. subsidiaries have filed voluntary Chapter 11 petitions with the U.S. Bankruptcy Court for the Southern District of New York, hurt by major shifts in the way consumers view movies and media. Get the full story »
Dell Inc. Chief Executive Michael Dell showed off a new seven-inch tablet and said the computer maker is on track to bring in more than $60 billion in revenue this year. Get the full story »
