Officials from Navistar International Corp. are expected to announce the engine manufacturing company’s plan to move its headquarters to Lisle at a Wednesday morning press conference, DuPage County Board president Bob Schillerstrom said Tuesday.
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Navistar set to announce plan for Lisle site
Sep. 7, 2010 at 5:46 p.m.
Filed under: Airplanes, Defense, Jobs/employment, Layoffs, Management, Personnel moves, Updated Boeing slims down military aircraft business
Boeing Co. is slimming down its military aircraft business and cutting workers as the U.S. tightens defense spending and profit margins shrink.
Boeing’s military division makes the well-known Chinook transport helicopters, as well as the C-17 transport and the F/A-18 fighter-bomber.
The job cuts will start with 10 percent of the group’s executives. Boeing didn’t say how many more workers will lose jobs. It will consolidate six divisions of the business into four. Get the full story »
Sep. 7, 2010 at 4:55 p.m.
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Filed under: Airlines, Investigations, M&A, Technology, Travel Sources: Justice Dept. probing Google deal with ITA
The U.S. Justice Department is looking into allegations that Google Inc’s purchase of airline ticketing firm ITA Software Inc will cost rivals access to data they need to compete with the search giant as it moves into the travel market, sources familiar with the probe said. Get the full story »
WFLD makes Canellis lead sportscaster
Lou Canellis has been named WFLD-Ch. 32’s new lead sportscaster, succeeding Corey McPherrin, who last month became co-host of the station’s low-rated morning program, “Good Day, Chicago.”
Sep. 7, 2010 at 3:59 p.m.
Filed under: Chicago executives, Food, M&A, Packaged foods, Personnel moves Kraft names category chief of Cadbury units
Northfield-based Kraft Foods Inc. confirmed Tuesday that Mary Beth West, its chief marketing officer, has also taken on the role of chief category officer.
West has served as marketing chief for three years, and will now head the gum, candy, chocolate and business global category teams, along with Kraft’s multi-billion-dollar marketing division. She will continue reporting to chief executive officer Irene Rosenfeld.
Kraft confirmed West’s promotion, but did not provide further comment. Get the full story »
Potash chief takes to YouTube to discuss BHP bid
From The New York Times | Potash Corp. of Saskatchewanon put up several videos of William Doyle, its chief executive, on Tuesday, to explain why shareholders are better off sticking with the company than flocking to BHP’s offer.
Sources: Taxpayers may face initial loss on GM IPO
The U.S. government is likely to take a loss on General Motors Co. in the first offering of the automaker’s stock, six people familiar with preparations for the landmark IPO said. Get the full story »
Chairman to leave HSBC for British ministry post
HSBC Holdings Chairman Stephen K. Green will leave the bank to become Britain’s minister of state for trade and investment, the company said Tuesday.
Green will retire from the bank by the end of the year – HSBC did not announced a specific date — and take up his new post in 2011. Get the full story »
HP sues to keep ex-CEO Hurd from Oracle
Hewlett-Packard Co. is suing former Chief Executive Mark Hurd to stop him from taking a job at rival Oracle Corp.
The complaint filed Tuesday in a California state court comes a day after Oracle hired Hurd as co-president to help lead the database software maker as it tries to muscle in on more of HP’s turf. Get the full story »
2 Fed banks sought hike in discount rate
Two regional Federal Reserve banks, Kansas City and Dallas, pushed again for a modest increase in the rate charged to banks for emergency loans, according to minutes from an August policy meeting released Tuesday.
The Fed — the U.S. central bank — kept the discount rate unchanged at 0.75 percent at its Aug. 10 meeting. The Dallas and Kansas City Fed boards requested an increase to 1 percent, while the other 10 regional Fed banks sought no change. Get the full story »
FDA warns Canada Dry, Lipton on health claims
Federal health regulators have issued warnings to the makers of Canada Dry ginger ale and Lipton tea for making unsubstantiated nutritional claims about their green tea-flavored beverages.
In a warning letter issued Aug. 30, the Food and Drug Administration takes issue with the labeling of Canada Dry Sparkling Green Tea Ginger Ale. The agency issued a similar letter Aug. 23 to Unilever Inc., over Web site and product labeling for its Lipton Green Tea. Get the full story »
Ex-Obama aide: Extend all tax cuts for 2 years
U.S. tax cuts should be extended for all Americans to help spur the economy, but even the middle-class cuts should end in two years, former U.S. budget director Peter Orszag said Tuesday.
Orszag’s views differed from those of his former boss, President Barack Obama. Get the full story »
Wells Fargo thinking big commercially
Wells Fargo & Co. has only eight retail branches in the Chicago area, but the San Francisco-based megabank has big growth plans for its local commercial and private banking arms.
It’s also looking for more space in the Loop area.
It has about 50 commercial bankers in the Chicago area, but plans to beef up that staffing by about 50 percent in the next year. Its local business customers include Freedman Seating, which serves the public transit industry and employs about 500, and Stoller Wholesale, a family-run wine and spirits distributor. Get the full story »
Martha Stewart to lead Hallmark Ch. makeover
Martha Stewart has a knack for transforming dated rooms into design showpieces. Now she’s undertaking another major renovation: the Hallmark Channel.
Beginning Monday, Stewart will provide eight hours of programming each weekday as part of an ambitious revamp of the Hallmark Channel. After pinning its fortunes on the broad appeal of sentimental made-for-TV movies and reruns of such classic shows as “The Golden Girls” and “Little House on the Prairie,” Hallmark plans to focus on home and lifestyle improvement and cooking shows.
Sep. 7, 2010 at 12:33 p.m.
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Filed under: Chicago executives, Internet, Media, Newspapers, Personnel moves Crain’s publisher steps down, No. 2 steps up
David Blake is stepping down after 10 years as publisher of Crain’s Chicago Business, which on Tuesday named Associate Publisher David Snyder his successor, effective Oct. 15.
Through the end of the year, Blake, 56, will mentor Snyder, 48, and shepherd the launch of a new online and event business that will focus on the region’s health care economy, among other projects for the weekly publication and its Internet platforms.
David Blake is stepping down after 10 years as publisher of tCrain’s Chicago Business, which on Tuesday named Associate Publisher David Snyder his successor, effective Oct. 15.
Through the end of the year, Blake, 56, will mentor Snyder, 48, and shepherd the launch of a new online and event business that will focus on the region’s healthcare economy, among other projects for the weekly publication and its Internet platforms.
