From The Daily Herald | AT&T, which has its Midwest headquarters in Hoffman Estates, is expected to open a new flagship store for wireless products in Arlington Heights this summer or fall.
Bombardier in $6.7B sales deal with NetJets
Bombardier Inc said on Wednesday it will sell as many as 120 aircraft to Warren Buffett’s NetJets Inc, a deal that could be worth more than $6.7 billion and which sent its shares soaring 8.3 percent.
The deal includes a firm order of 50 jets with a list price of $2.8 billion and options to purchase a further 70. It is biggest sale of business aircraft sale for Bombardier, the world’s No. 3 civil aircraft maker after Airbus and Boeing. Get the full story »
McDonald’s pledges more investment in Russia
McDonald’s Corp. plans to boost investment into expansion of its Russian business this year to increase its foothold in the growing fast food restaurant market amid still sluggish competition. Get the full story »
Super Bowl ad boosts Groupon traffic just 3%
From Fast Company | Daily discount service Groupon spent millions of dollars on a couple controversial Super Bowl spots and what did it get them? During the week following the Super Bowl compared to the week prior, Groupon increased traffic by a paltry 3 percent — a negligible boost given the hundred million-plus consumers who viewed it live.
By comparison, GoDaddy.com’s ad boosted traffic 41 percent in terms of unique visits, the biggest lift for any sponsor. Volkswagen and HomeAway traffic jumped 27 percent and HomeAway.com. Even Mercedes-Benz saw a 9 percent boost. Get the full story >>
Gas prices top $4 at some Chicago stations
For the first time since the summer of 2008, gasoline prices in Chicago have climbed over the $4 mark.
Prices have climbed above $4 at some stations such as the BP station at Lawrence Avenue and Marine Drive in Uptown which is charging $4.09 for a gallon of regular this morning. Though, AAA reports Chicago gas prices average out at $3.59, which is significantly higher than last year’s $2.80 for a gallon of regular Get the full story »
Walgreens compounds Tamiflu amid shortage
With seasonal influenza widespread in more than 40 states, Walgreen Co. said it has begun “compounding” Tamiflu to keep with the antiviral drug in adequate supply.
In rare instances, pharmacists will “compound” or mix ingredients in order to fill a prescription. In this case, pharmacists take the Tamiflu capsules, break them down and mix them with a cherry syrup, said Walgreens spokesman Jim Cohn. A spike in demand for the liquid form, largely prescribed to children, has triggered a shortage. Get the full story »
Exelon, ADM may be in Buffett’s sights
From Bloomberg News | Billionaire Warren Buffett said in his annual letter that wants to use his almost $40 billion pile of cash to pursue bigger acquisitions. That may put companies from Archer Daniels Midland Co. to General Dynamics Corp. and Exelon Corp. in his sights. Get the full story>>
U.S. oil holds near $100 a barrel
Oil prices held near $100 a barrel Wednesday amid investor concern that the unrest in Libya could spread across the Middle East. The benchmark U.S. oil contract, West Texas Intermediate, was up 39 cents to $100.02 a barrel for April delivery. Get the full story »
Planned layoffs at highest level in 11 months
The number of planned layoffs at U.S. firms rose in February to its highest level in 11 months as government and non-profit employers let workers go, a report showed Wednesday. Get the full story »
Ronald sidelined as McDonald’s goes more upscale
Ronald McDonald waves to the crowd during the 2010 St. Patrick's Day Parade on Columbus Drive. (William DeShazer/Tribune)
From Bloomberg News | As McDonald’s Corp. morphs into a more upscale chain, there’s one person you won’t see munching salads, sipping a cappuccino and surfing the Web: Ronald McDonald, age 48.
While Ronald still plays an ambassador role, he isn’t tied to the menu, says spokeswoman Danya Proud. Even as mascots like Burger King’s King shill on TV and the Web, Ronald has ceded the limelight to budding singers and dancers who sell mochas and frappes — not Happy Meals. | Get the full story>>
Airline profits expected to halve in 2011
Global airline net profits will halve this year as rising costs, especially oil prices, offset increasing demand, the industry body IATA said on Wednesday.
The result would be a net profit margin this year of only 1.4 percent — dismissed by IATA Director-General Giovanni Bisignani as more worthy of a charity than an industry — down from 2.9 percent in 2010. Get the full story »
Three Kirkland partners leave for Latham
Three partners at Kirkland & Ellis resigned Tuesday and joined another elite corporate law firm in Chicago, Latham & Watkins.
Robert Buday, Nathaniel Marrs and Gary Axelrod, who represent clients in complex real estate transactions, are highly regarded according to lawyer-rating services such as Chambers & Partners.
Latham’s raid on Kirkland is unusual, as a group of partners rarely simultaneously leave one high-end firm for another. In addition, Latham has not been active in recruiting lawyers from other firms, known as the lateral market, in recent years, said Richard Levy, the head of the firm’s Chicago office. Get the full story »
Melissa Bean to be CEO of Executives’ Club
Melissa Bean. (Nancy Stone/Chicago Tribune)
By Becky Yerak and Melissa Harris | Melissa Bean, the Barrington Democrat recently ousted from her U.S. House seat after three terms, has been hired as the new chief executive of the Executives’ Club of Chicago.
Before entering the world of politics, Bean worked in sales and management for high-tech companies, including a Motorola unit, Nortel and Arrow Electronics. She later started her own consulting firm to the tech industry, advising clients that included Anixter, Intel and Microsoft. She was elected to Congress in 2004.
Bean replaces Kaarina Koskenalusta, who resigned from the business forum last October after 25 years at the helm. Get the full story »
3 theater chains fined over child labor violations
Three movie theater companies will pay more than $275,000 in civil fines after being accused of violating federal labor laws by allowing dozens of teenagers in nine states, including Illinois, to perform dangerous jobs and work hours longer than allowed by law, the Department of Labor said Tuesday.
The U.S. Department of Labor’s Wage and Hour division said about 160 minors at 27 theaters operated by Milwaukee-based Marcus Theatres Corp.; Regal Cinemas Inc. of Knoxville, Tenn.; and Wehrenberg Inc. of St. Louis violated the Fair Labor Standards Act. Get the full story »
Ace Hardware, True Value report rise in 4Q results
From Crain’s Chicago Business | Oak Brook-based Ace Hardware and Chicago-based True Value Co. both reported strong fourth-quarter surges in earnings, but the gains weren’t enough to push the companies into the black for the year.
