Wal-Mart Stores Inc. plans to open its first Walmart Express store on Chicago’s South Side.
The 10,000-square-foot store is set to open this summer in the Chatham Market on 83rd Street, said a source familiar with the plans. Get the full story »
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Hospira shares rise after Sanofi cancer drug OK’d
Hospira won approval for the first U.S. generic version of Sanofi-Aventis SA’s big-selling Taxotere cancer drug, sending Hospira shares up 2 percent.
U.S. sales of Taxotere, an infused chemotherapy known generically as docetaxel, were $1.2 billion last year, according to Hospira. JPMorgan analyst Chris Schott said recently that U.S. approval of generic Taxotere was the most important near-term catalyst for Hospira’s shares. Get the full story »
Leasing giant orders 133 jets from Boeing, Airbus
International Lease Finance Corp, the world’s biggest plane leasing company, said it will order 100 narrowbody planes from EADS unit Airbus and 33 narrowbodies from Boeing Co., and scrap an order for 10 Airbus A380 super jumbo aircraft.
The orders from the aircraft leasing unit of insurer American International Group Inc. are potentially worth $11.2 billion at average list prices. The canceled A380 order, which had been in jeopardy for some time, was potentially worth $3.75 billion. Get the full story »
Testimony begins on utility rates, smart grid
Springfield – Consumer advocates, environmental groups, utilities, government officials and business leaders laid out their wish lists Tuesday for legislation aimed at modernizing the electrical grid, signaling that a version of the bill with added protections for consumers and businesses could have a future in Springfield.
The testimony at a joint hearing of the House Public Utilities and the Senate Energy committees will ultimately be used to hash out the details of Commonwealth Edison-backed legislation that calls for an overhaul of the regulatory process used to set utility rates. Get the full story »
Tyree hospitalized with pneumonia
Mesirow Financial Chief Executive James Tyree, who has been battling cancer, was recently hospitalized with pneumonia.
“They are treating his infection and he’s feeling stronger every day,” Mesirow President Richard Price said in an e-mail to workers Tuesday. “Doctors generally expect some side-effects and complications during an aggressive chemotherapy regimen.”
Tyree, who also heads Sun Times Media, had suffered from diabetes for years and had a transplant operation a few years ago. Get the full story »
First Midwest plans downtown facility
First Midwest Bank, which has grown into one of the area’s biggest banks without a presence in downtown Chicago, confirmed that it plans to set up shop for the first time in the city’s central business district.
The bank told the Tribune that it plans to open an office in a LaSalle Street building in the Loop in early April. It’s not divulging the address until a lease for the property, which has 3,500 to 4,000 square feet, is signed, which should occur “shortly,” a bank spokesman said. The office will handle commercial banking, cash management and trust services, he said. Get the full story »
Union approves deal with local Hilton hotels
After 18 months without a labor contract, Hilton workers in Chicago have voted to settle on a four-year contract that maintains benefits at current levels and offers modest raises.
Hilton is the first major hotel chain in Chicago to settle with the union in the heated negotiation process which has brought months of picketing, temporary strikes, demonstrations and boycotts to some of the largest hotels in Chicago. Get the full story »
Loyola to sell medical center to Trinity Health
Amid the rapidly changing health care landscape that demands large amounts of cash to provide consumers with the latest bells and whistles, Loyola University Chicago said Friday afternoon that it will get out of the hospital business by selling its medical center complex to a large national Catholic hospital operator.
The market is demanding more from hospital operators to stay competitive. By merging, hospitals can pool capital to buy new computer systems, electronic record-keeping systems and the latest medical technology something that Loyola executives say will be easier as part of a larger entity. Get the full story »
Unemployment rate in U.S. falls below 9%
Job seekers in Chicago speak with recruiters at a career fair at Malcolm X College last summer. (Scott Olson/Getty Images)
The U.S. jobs market rebounded in February and unemployment fell below 9 percent for the first time in nearly two years, the latest signs of a steadily improving economy.
Nonfarm payrolls rose by 192,000 last month as private-sector employers added 222,000 jobs, the Labor Dept. said Friday in its survey of employers. The January number was revised to show an increase of 63,000 jobs, from a previous estimate of 36,000.
In Illinois, the unemployment rate fell to 9.0 percent in January, the Illinois Department of Employment Security reported Thursday.
The unemployment rate, which is obtained from a separate household survey, fell to 8.9 percent last month, the first time it dipped below 9 percent since April 2009. About 13.67 million people who would like to work can’t get a job. Get the full story »
Sears latest store chain to woo Amazon affiliates
Sears Holdings Corp. on Thursday invited sales affiliates worried about losing Amazon business to direct their online traffic to Sears.com. The Hoffman Estates-based company joins a growing chorus of other retailers looking to cash in on Amazon’s battle with state governments over collecting sales tax.
In an open letter written Thursday, Sears eCommerce President Imran Jooma said he wanted affiliates “around the country to know that you have a place with us.”
Amazon.com, the world’s largest online retailer, relies on a fleet of deal sites and other online portals to direct customers to Amazon.com. The affiliate websites typically send potential customers to Amazon’s website in exchange for a cut of sales. Get the full story »
Spiders prompt recall of 52K Mazda6 sedans
Yellow sac spider
Mazda is recalling about 52,000 Mazda6 sedans, because yellow sac spiders like to build their nests in part of the fuel system.
“A certain type of spider may weave a web in the evaporative canister vent line and this may cause a restriction of the line,” Mazda said in a letter to the National Highway Traffic Safety Administration.
The evaporative canister vent line runs from a charcoal-filled canister that cleans air coming out of the gas tank. Blockage of the line can prevent air from getting into the gas tank as the gasoline is used, which causes a pressure problem that can lead to a crack in the gas tank and the possibility of a fire.
There have been 20 reported cases of spider infestation in the Mazda6 — all have been in cars with 4-cylinder engines, none with V-6s.
Get the full story »
FDIC cites poor management in ShoreBank failure
The failure of Chicago-based ShoreBank was blamed Wednesday on poor risk management by its directors and officers, and its losses to the Federal Deposit Insurance Corp. will be worse than originally expected.
Politically connected ShoreBank, which was known for lending in poorer neighborhoods, “failed due to insolvency brought on by the board and management not implementing adequate risk management practices,” according to a report issued Wednesday by the FDIC’s Office of Inspector General. Get the full story »
‘Windy City Live’ to replace ‘Oprah’ on Ch. 7
From Tower Ticker | That new show moving into the 9 a.m. weekday slot on Disney-owned WLS-Ch. 7 after “The Oprah Winfrey Show” ends its run of original episodes in May?
It’s going to be called “Windy City Live” instead of “Morning Rush.”
March 2 at 4:23 p.m.
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Filed under: Computers, Government, Manufacturing, Small business, Updated Illinois in pilot to aid small manufacturers
By Katherine Skiba | Federal officials on Wednesday announced a $4.5 million pilot program to help small and medium manufacturers in Illinois and three other Great Lake states use supercomputing technology to speed product design.
The public-private partnership will assist firms in Illinois, Indiana, Michigan and Ohio, officials said. Get the full story »
