Margate switched to a four-day workweek last year and said it saved about $750,000 as buildings went dark and 100 city cars were idled each Friday.
To build a presence on social media site, firms must let go of control
Brand power takes on a whole new meaning on Twitter, where more than a million people follow Sockington, a tweeting feline who muses about litter boxes and salmon.
The first television broke before Benjamin Ramos Jr. even got it home, so he returned it to the Sears store in Calumet City the same day.
Boeing Co. has discovered another problem with its long-delayed 787 jetliner, prompting the aircraft maker to halt production of fuselage sections.
Tribune Co. creditors have asked the bankruptcy court for permission to hire special counsel to further investigate the $8.2 billion leveraged buyout of the Chicago-based media company engineered by real estate magnate Sam Zell.
He confronts challenges to the Fed and himself as he engages the public to demystify institution
As the worst of the financial crisis seemingly has passed, the Federal Reserve chairman faces the most severe challenge to his institution and his reputation since he replaced the once-venerated Alan Greenspan in 2006. With his term expiring Jan. 31 his reappointment is in question.
Home prices in May posted their first monthly increase since the summer of 2006, indicating prices are finally stabilizing, data Tuesday showed.
IBM is acquiring analytics-software maker SPSS in an all-cash transaction at $50 per share for a deal valued at about $1.2 billion.
Gets more buzz from photo than as Northern Trust CEO
William Osborn, 61, spent 12 years as Northern Trust Corp. chief executive and has been a board member of numerous other companies and non-profits.
But nothing that he has done has generated as much buzz as his appearance in a July 18 photo.
Abbott Laboratories, the maker of Similac infant formula, said it will buy the largest nutritional product operation in India for $130 million in cash, expanding its presence in the Asian region.
OVERLAND PARK, Kan. (AP) — Telecommunications company Sprint Nextel Corp. said Tuesday it agreed to acquire Virgin Mobile USA Inc. in a stock deal valued at $5.50 per share in a bid to expand its prepaid cell phone offerings.
Shares in Anixter International were down more than 15 percent in early trading on the New York Stock Exchange after the cable and wire distributor reported a loss in the second quarter on one-time charges and its exit from contract with Alcatel Lucent.
Bill passes with broad support; industry warns of higher costs
WASHINGTON — The Senate on Tuesday passed a landmark bill that gives consumers new protections in their agreements with credit card companies, but one result may be a return to annual fees and other costs for the most creditworthy customers.
White House hardball, tough times seal deal
WASHINGTON — It had taken weeks of hardball negotiations, but by Sunday afternoon White House officials thought everything was falling into place. In less than 48 hours they would unveil a landmark deal with U.S. automakers to impose sharply higher fuel efficiency standards on new cars and trucks.
HAMILTON, Ohio (AP) — Former NBA player and University of Cincinnati star Corie Blount was sentenced to one year in prison on Wednesday in a plea arrangement resulting from drug charges.
Chrysler has told a bankruptcy court it plans to eliminate 789 of its dealers nationwide — including 44 in Illinois — as part of a government mandated effort to restructure its failing business.
TRENTON, N.J. (AP) — Pfizer Inc. is unveiling a new program Thursday that will let people who have lost their jobs and health insurance keep taking some widely prescribed Pfizer medications — including Lipitor and Viagra — for free for up to a year.
Lake Forest-based Stericycle Inc. said it will buy MedServe Inc. for $185 million in cash, expanding its market share in the medical waste disposal business.
Infrequent fliers who travel this summer may soon have to pay more to check their bags at the airport.
WASHINGTON (AP) — New jobless claims rose more than expected last week due partly to an increase in layoffs by the automobile industry, while the number of people continuing to receive unemployment benefits set a record for the 15th straight week
As the recession hit, the dollar stores were ready with low-price groceries to attract a newly frugal middle class. Nearly half of U.S. households shop dollar stores each month, up from 36 percent in 2002. Shoppers of all income levels are walking through the doors.
Home builder seeking to tap into sales funds to stay alive or be pushed into liquidation
Longtime Chicago-area home builder Kirk Corp. sought Chapter 11 bankruptcy protection late Tuesday, but its ability to reorganize largely depends on whether it can immediately tap partial proceeds from home sales to fund its operations.
Preventive measure being employed at airports, on airplanes
U.S. airlines are scrambling to calm jittery passengers and investors and to address growing concerns about the safety of air travel as swine flu spreads outside of Mexico.
The Boeing narrow-bodies will feature mood lighting, larger windows and straighter cabin wall.
Boeing Co. announced design changes Tuesday that will make its workhorse 737-800 jets roomier for passengers and cheaper for airlines to operate.
When Mayer Brown partners elected a new management team this month, the absence of Vice Chairman Paul Maher was conspicuous, prompting much speculation about the fate of the London partner once considered a possible heir to the throne of the Chicago-based law firm.
In Chicago, the index fell 17.6 percent from February 2008
The news for Chicago home sellers remains bad, but not quite as bad as for the nation as a whole, according to a widely watched housing index released Tuesday.
Otherwise slow growth for the hospital products maker
Hospira Inc. said this morning first-quarter net income jumped 153 percent thanks largely to a settlement with the Internal Revenue Service following a routine audit, boosting otherwise slow growth for the hospital products maker.
Fortune Brands Inc. Tuesday announced it will cut its annual dividend from $1.76 to $.76, though the Deerfield-based company reaffirmed its earnings guidance for the rest of the year.
Banks getting federal TARP aid tighten lending, leaving consumers angry
Wilma Erwin is fuming.
U.S. launching $1.1 billion study of which medical therapies work
Good luck trying to learn what medical treatment works best to relieve low back pain, alleviate depression or prevent the spread of prostate cancer.
DETROIT (AP) — General Motors Corp. said Thursday it will temporarily close 13 assembly plants in the U.S. and Mexico — some for more than two months — as it tries to pare back its bloated inventory due to slumping sales.
NEW YORK (AP) — Stocks are pointing to a higher open Thursday after stronger-than-expected earnings from a handful of companies boosted hopes that the economy could be stabilizing.
Exelon says its first quarter earnings rose 23 percent, driven by increased output at its nuclear operations and higher rates.
Tribune Co. has asked a U.S. Bankruptcy Court in Delaware to extend its exclusive right to file a reorganization plan until Aug. 4 and to give the Chicago-based media giant until Oct. 5 to win approval for its plan from creditors.
NEW YORK (AP) — Wall Street found enough in the latest earnings reports to keep its six-week rally alive.
Activist investor William Ackman is expected to join the board of General Growth Properties Inc., the shopping mall operator that filed for Chapter 11 bankruptcy Thursday, according to a filing with the Securities and Exchange Commission.
Most op-ed pieces written by captains of industry are usually pretty pedestrian.
MINNEAPOLIS (AP) — United Airlines parent UAL Corp. reports first-quarter results on Tuesday. The following is a summary of key developments and analyst opinion related to the period.
The Federal Reserve Bank of Chicago and more than 200 organizations are partnering for the eighth annual Chicago Money Smart Week, which begins Saturday.
Getting the price right is a challenge for retailers as Americans are trading down to stay within budget
Janice Honigberg knows that while Americans may be pinching pennies, they still consider fresh berries a healthy treat if the price is right.
Illinois is one of four states studying a
proposal to create separate lanes for commercial trucks traveling
along 800 miles of Interstate 70.
Automakers restructuring and business contracting
In tattered and gray industrial towns across the Midwest, no one knows exactly where the ax will swing next. But there is no doubt the forced downsizing of General Motors and Chrysler will change the quality of life in the region for years to come.
Customer had trouble getting refund from state or Target for covered prescriptions
Rushed to the hospital after a heart attack in December, Michael Kadlubowski had no prescription drug insurance.
WASHINGTON (AP) — The government may require new faces in executive suites at banks requiring “exceptional assistance” in the future, Treasury Secretary Timothy Geithner said Sunday.
Fewer lost bags, late arrivals, overbooked flights
WASHINGTON — Airlines carried fewer people last year, but did a better job for those who did fly.
General Motors Corp. is softening its opposition to bankruptcy reorganization a little more.
Economy batters budgets, but also fuels a rise in attendance Economy batters budgets, just as it fuels a rise in attendance
NEW YORK—The recession is hitting museums hard from coast to coast, forcing directors to boost admission fees, cut budgets and staff and put ambitious projects on hold. But in a twist on the bleak economic news, museums are reporting an increase in attendance.
Popularity surges, but cocoa bean supply shrinks and costs rise
Americans are consuming more dark chocolate, but jumps in price could melt sales gains.
Out-of-state stores to close; 3 in Chicago area to remain open
The family-owned operator of Mark Shale stores filed for Chapter 11 bankruptcy protection Monday, citing a “dramatic revenue decline” amid the worst retail environment in decades.
A deal with the trusts could also mean thousands of union jobs for members
Representatives from AFL-CIO Housing Investment Trusts are meeting with Chicago Spire developer Shelbourne Development Group on Tuesday to advance preliminary discussions that could have the deep-pocketed pension fund help pay for construction of the stalled skyscraper.
State regulators announced Monday tighter restrictions on car title loans, putting a cap on how much consumers can borrow and eliminating balloon payments.
A deep-pocketed AFL-CIO pension fund is meeting with Chicago Spire developer Shelbourne Development Group Tuesday in Chicago to advance discussions that could have the pension fund help pay for construction of the stalled skyscraper.
The Al Baskin Co., family-owned operator of Mark Shale stores, filed for Chapter 11 bankruptcy protection, citing a “dramatic revenue decline” amid the worst retail environment in decades.
Wireless operator AT&T said Monday it will add more than 40 cell phone towers in Illinois this year, beefing up its third-generation network in new cities