Machinery maker Gardner Denver Inc. on Wednesday said it will move its headquarters to the Philadelphia area to make the company easier for international customers to reach. Gardner Denver did not specify where in the region it will be headquartered, or when the move might take place. A representative could not be immediately reached for further details. Get the full story »
Sep. 8, 2010 at 4:41 p.m.
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Filed under: International, Investigations, Litigation, Manufacturing Boeing subsidiary wins appeal over CIA flights
A Boeing Co. subsidiary prevailed on Wednesday against a lawsuit alleging it had helped the CIA illegally transport prisoners to secret facilities overseas, a federal appeals court has ruled.
The 9th Circuit U.S. Court of Appeals in San Francisco dismissed the lawsuit against Jeppesen Dataplan Inc, finding that rules protecting state secrets made it impossible for the litigation to proceed. The U.S. Department of Justice intervened in the case on behalf of Jeppesen. Get the full story »
Sep. 8, 2010 at 4:25 p.m.
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Filed under: Airlines, Airplanes, Airports, Banking, Policy, Politics City council gives final approval to O’Hare bonds
The Chicago City Council gave final approval on Wednesday to $1 billion of revenue bonds to continue expanding O’Hare International Airport.
But the two major carriers at the airport are not saying if they plan on fighting the debt sale.
A spokesman for American Airlines said there was “no comment at this time.” Get the full story »
Report: 7-Eleven bids $2B for Casey’s General
Convenience store operator 7-Eleven Inc. is the mystery bidder for Casey’s General Stores Inc. trying to top a Canadian rival, according to a published report. Get the full story »
Consumers starting to see coffee price jolt
Americans are getting more than just a jolt of caffeine with their coffee these days — the price is jumping, too.
Coffee for December delivery settled up 2.25 cents at $1.9455 a pound Wednesday after hitting a 13-year high of $1.9865 per pound earlier in the day. Get the full story »
Northern Trust shareholder sues company
A shareholder of Northern Trust Corp. on Tuesday sued the Chicago-based financial services firm, claiming, among other things, that the company’s executives made “improper statements” so they could pump up the stock price and later sell $100 million of their own stock.
Sep. 8, 2010 at 2:43 p.m.
Filed under: Autos, Construction, Earnings, Jobs/employment, Labor, Layoffs, Manufacturing, Updated Navistar confirms that it will move HQ to Lisle
Navistar representatives, along with roughly a dozen Illinois officials, announced plans this morning to move the manufacturing company’s headquarters to Lisle, retaining thousands of jobs in DuPage County.
“I’ve got one thing to say. Illinois is Navistar country,” said Gov Pat Quinn. “We believe in Navistar.”
Navistar President Dan Ustian added that the project would create about 500 engineering jobs right away. Get the full story »
$30M more in foreclosure aid on way to Illinois
Illinois communities hardest hit by foreclosures will receive another $30 million as part of a third round of neighborhood stabilization grants announced Wednesday by the Obama administration. Get the full story »
Netflix to add more streamed movies
Netflix Inc. has reached an agreement to license first-run theatrical movies distributed by Nu Image/Millennium Films for online streaming during the “pay TV window,” when they’re usually available on premium TV channels.
Shares rose 3.11 percent, to $146.20, in late afternoon trading. The stock has more than doubled so far this year. Get the full story »
Sep. 8, 2010 at 2:12 p.m.
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Filed under: Exchanges, Government, Investigations, Markets, Regulations, Stock activity SEC looks at stub quote ban after flash crash
Regulators probing the stock market “flash crash” in May still have not uncovered a single cause but will point to “stub quotes” and other previously identified issues as having exacerbated the market’s dramatic drop, according to two sources familiar with the probe.
A third source said the Securities and Exchange Commission is still asking about a “smoking gun” that might explain the May 6 crash, when the Dow Jones industrial average plunged some 700 points before sharply recovering, all in about 20 minutes. Get the full story »
Sep. 8, 2010 at 1:52 p.m.
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Filed under: Construction, Development, Litigation, Real estate Another setback for Chicago Spire
From Crain’s Chicago Business | The Chicago Spire was dealt another setback Wednesday when a federal judge tossed out a lawsuit by developer Garrett Kelleher seeking to avoid repayment of two loans.
Beige Book blue about Midwest, East
The U.S. economy has shown “widespread signs” of slowing over recent weeks, the Federal Reserve said Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.
The Fed said in its Beige Book compilation of anecdotal reports that modest growth was the most common characterization of economic activity in Fed districts, primarily those in the western and middle portions of the country such as San Francisco, Dallas and Kansas City. Get the full story »
New contract no job guarantee at Harley
Harley-Davidson Inc. could eliminate hundreds of jobs at its engine factory in Menomonee Falls, Wis., even if union workers ratify a seven-year labor agreement meant to keep the work in the Milwaukee area.
The company anticipates cutting 200 positions by the end of 2012, according to the proposed contract with United Steelworkers of America Local 2-209. That’s in addition to hundreds of jobs the company has eliminated in the Milwaukee area in the last two years. Get the full story »
Alum gives U. of C. Law School $10M
The University of Chicago Law School announced Wednesday that it has received a $10 million gift to create 60 full-tuition scholarships starting next year.
The donation, the largest gift from an individual in the law school’s history, came from David Rubenstein, an alumnus who founded a successful private equity firm in Washington D.C. Get the full story »
