March 26 at 4:44 p.m.
Filed under:
Construction,
Taxes
By Dow Jones Newswires-Wall Street Journal
Caterpillar Inc., suggesting that it could shift jobs out of Illinois, is prodding its home state to cut government spending and roll back tax increases.
Doug Oberhelman, chief executive officer of the giant Peoria-based maker of construction and mining equipment, protested against the state’s tax and spending policies in a March 21 letter to Illinois Gov. Pat Quinn, a Democrat who took office in January 2009.
“I want to stay here,” the letter said. “But as the leader of this business, I have to do what’s right for Caterpillar when making decisions about where to invest. The direction that this state is headed in is not favorable to business, and I’d like to work with you to change that.” Get the full story »
March 25 at 6:52 p.m.
Filed under:
Banking
By Dow Jones Newswires
U.S. regulators Friday seized an Illinois bank, the third in the state to fail this year.
The Federal Deposit Insurance Corp. said Friday that the sole office of the Bank of Commerce, of Wood Dale, Ill., was closed. Advantage National Bank Group, of Elk Grove Village, Ill., entered a purchase-and-assumption agreement with the FDIC to assume all of Bank of Commerce’s deposits. Get the full story »
March 25 at 6:06 p.m.
Filed under:
Energy,
Environment,
Health care,
Policy,
Updated
By Julie Wernau
If a nuclear reactor were to melt down in Illinois, the state has enough potassium iodide on hand to distribute to residents living within 10 miles of a nuclear power plant, the Illinois Emergency Management Agency said Friday.
A top official with the agency had said earlier at a public forum hosted by U.S. Senators Mark Kirk and Dick Durbin that there weren’t enough tablets on hand.
An IEMA spokeswoman clarified Friday, saying that the agency has 90,000 tablets on hand for first responders and 175,000 tablets on-hand to distribute to the public. She said about 180,000 people total live within 10 miles of a nuclear reactor in Illinois. Joseph Klinger, the assistant director of the Illinois Emergency Management Agency misspoke when he said 180,000 people on average live within 10 miles of each nuclear plant in Illinois. Get the full story »
March 25 at 6:02 p.m.
Filed under:
Autos
By Associated Press
Replacement car part maker LKQ Corp. said on Friday that it has arranged $1 billion in borrowing, replacing a $750 million line due to expire in October 2013. Get the full story »
March 25 at 5:22 p.m.
Filed under:
Economy,
International
By Dow Jones Newswires
(Blommer)
Ivory Coast’s increasingly violent political crisis has cast doubt not only over the availability of this year’s cocoa crop, but also its quality. The country supplies around one-third of the world’s cocoa.
“Concerns now are being raised in regard to how a long drawn out solution could negatively impact the quality and quantity of the country’s upcoming mid crop,” said Kip Walk, head of cocoa at Chicago-based Blommer Chocolate Co., one of the world’s largest cocoa processors that sells to major candy makers. Get the full story »
March 25 at 4:59 p.m.
Filed under:
Travel
By Associated Press
Online travel company Orbitz Worldwide Inc. said Friday that it named Robert Friedman and Kristina Leslie to its board in the wake of resignations from directors Paul Schorr IV and William Cobb. Get the full story »
March 25 at 4:40 p.m.
Filed under:
Advertising/Marketing,
Entertainment,
Media,
TV
By Associated Press
Winfrey’s Chicago-based Harpo Productions confirmed Friday that the final original episode of “The Oprah Winfrey Show” will air May 25. Winfrey announced live on the show in November 2009 that she would end its run after 25 years. She since has launched cable’s Oprah Winfrey Network.
By Julie Johnsson
Tellabs Inc. plans to lay off 60 employees by April 1 as part of a broader restructuring aimed at refocusing the Naperville-based company on data-based telecommunications equipment. Get the full story »
March 25 at 3:39 p.m.
Filed under:
Cell phones,
Technology
By Reuters
Apple won a round in its patent battle with Nokia on Friday as a U.S. trade panel ruled that the U.S. company did not violate any of five Nokia patents. Get the full story »
March 25 at 3:05 p.m.
Filed under:
Manufacturing,
Sports,
Stock activity,
Updated
By Dow Jones Newswires
Stock in Brunswick Corp. rose more than 6 percent in late afternoon trading Friday after Wedbush initiated coverage of it with a stock-investment rating of outperform. Get the full story »
March 25 at 2:58 p.m.
Filed under:
Entertainment,
Litigation,
Media,
Movies,
TV,
Updated
From Bloomberg News | Actor Warren Beatty has won a suit against Tribune Co. over television and movie rights to Dick Tracy.
March 25 at 2:26 p.m.
Filed under:
Autos,
Manufacturing
By Dow Jones Newswires-Wall Street Journal
Mazda Motor Corp. suspended U.S. dealer orders for vehicles built in Japan until further notice because of parts supply disruptions caused by the earthquake and tsunami earlier this month, a company spokesman said. Get the full story »
March 25 at 2:16 p.m.
Filed under:
Fashion,
Litigation,
Work culture
By Reuters
American Apparel owner Dov Charney at a rally in Los Angeles in 2009. (Reuters/Mario Anzuoni/Files)
A woman who brought a $250 million sexual harassment lawsuit against American Apparel Inc. Chief Executive Dov Charney could be forced to take the case to arbitration, rather than pursue it in court.
A Brooklyn, N.Y., judge said at a hearing Friday that she may dismiss the lawsuit, which accused Charney of keeping a teenage saleswoman at the company as a sex slave. Get the full story »
March 25 at 1:20 p.m.
Filed under:
Autos,
Manufacturing
By Reuters
General Motors Co. will resume production at its pickup truck plant in Louisiana next week as well as its engine plant in upstate New York, saying only it had the parts it needed to support output. Get the full story »
March 25 at 1:15 p.m.
Filed under:
Internet,
Retail
By McClatchy Tribune Newspapers
Gap began promoting the site GapMyPrice.com on its Facebook page this month, with its first offer that allowed customers to name their price for a pair of men’s khakis, reports Advertising Age. Get the full story »
