Crain's Chicago Business back issues from March 2007:
Just a hiccup, or a sign of things to come? A conversation with local money managers about last week's market slide.(Markets)(Interview)
Mar 05, 2007 ... Byline: Julie Jargon Stocks took a beating last week, roiled by a drop in foreign markets and comments by former Fed Chairman Alan Greenspan, and the Dow Jones Industrials had their biggest loss in almost four years. Three local money managers comment on the market's outlook and ...
What'd ya pay? (I know, anyway); No secrets: Price-obsessed put a number on every friend, neighbor.(Business of Life)
Mar 05, 2007 ... Byline: SHIA KAPOS Keri Kramer pores over housing prices with the same mixture of joy and guilt as a chocoholic looking over a dessert menu. Her passion for searching out house prices began innocently enough last year, when she and her husband were searching for a new ...
They ought to be in pictures; Want to market to Hispanics? First, you have to find the photos.(Focus: Hispanic Business)
Mar 05, 2007 ... Byline: SARAH A. KLEIN Hispanics now comprise 15% of the U.S. population, up from 9% in 1990, according to U.S. Census data, but you wouldn't know that from looking at commercial photo archives. "There's a complete shortage,'' says Federico Traeger, creative director ...
Market stall hits some extra hard; 'Tweeners,' some condos especially tough to sell.(Business of Life)
Mar 05, 2007; ... Byline: DAN RAFTER Many sellers last year felt the sting of having a house stalled on the market. Homes didn't sell nearly as briskly in 2006 as they had a year earlier, with total statewide sales for the year down 8.9% from 2005, according to the Illinois Assn. of Realtors. ...
Bilingual operators are standing by; As Hispanic population grows, so do requests for Spanish speakers.(Focus: Hispanic Business)
Mar 05, 2007 ... Byline: SARAH A. KLEIN When the phone rings at Pronto Connections Inc., a call center in River North, employees must be prepared to answer some tricky questions. The queries, generated by customers of Pronto clients Turtle Wax Inc., Sinai Health System, Publications ...
Beyond sombreros; The right way-and wrong way-to sell products.(Focus: Hispanic Business)
Mar 05, 2007; ... Byline: SARAH A. KLEIN George San Jose winces when asked to describe the most common mistakes he sees in ads targeting Hispanics. After 28 years in the advertising industry, he's grown tired of the stereotypes. The most frequent? Using imagery of a large family to ...
For The Record.(Briefs)(Equity Office Properties Trust appointed Peyton "Chip'' Owen Jr.)(Patrick Collins of Perkins Coie to start up corporate investigation unit)(Methode Electronics Inc. acquired TouchSensor Technologies L.L.C.)
Mar 05, 2007 ... Billionaire investor Sam Zell acknowledged that he may make a bid to buy Tribune, saying his plan involves creating an employee stock ownership plan (ESOP) and that the ownership would be "a partnership between myself and the ESOP.'' Also, Tribune plans to sell two small Connecticut ...
New AT&T Illinois president aims to educate.(People)(Brandon Glenn)(Brief article)
Mar 05, 2007; ... Byline: Brandon Glenn Job: President, AT&T Illinois, since October. Vitals: 49 years old; bachelor's degree in industrial management, Purdue University, 1979; various positions with AT&T and its predecessor companies, including president of AT&T Wisconsin and ...
Why they won't budge; Stubborn buyer, seller insist on getting price they want.(Business of Life)
Mar 05, 2007; ... Byline: DAN WEISSMANN The Chicago housing market hit the brakes hard in the second half of 2006, after years of acceleration. The number of closings in September 2006 was down 24% from a year earlier, and the average sale price crept up only 3%. (In contrast, total closings and ...
Gen'l Employment avoiding 'temp' tag; Permanent placements add to agency's bottom line.(News)(General Employment Enterprises Inc.)(Brief article)
Mar 05, 2007; ... Byline: H. LEE MURPHY General Employment Enter- prises Inc. isn't going to become just another temporary staffing agency after all. Through most of its 113-year history, General Employment specialized in finding permanent jobs for engineers and other professionals ....
Moody's outlook 'negative' for Elmhurst Memorial; Competition heats up amid rebuilding plans.(News)
Mar 05, 2007 ... Byline: MIKE COLIAS Stiffening competition among hospitals in the western suburbs has hit Elmhurst Memorial Healthcare at a bad time, just as it solidifies plans to build a $400-million replacement hospital. Inpatient volume at the 350-bed hospital dropped for a ...
Anxious to sell? Don't let it show.(Business of Life)(Brief article)
Mar 05, 2007; ... Byline: Lisa Bertagnoli In this extreme buyers' market, real estate advertising catch phrases such as "motivated seller'' and "bring all offers'' can do one of two things: embolden buyers, or scare them away. A buyer working with Craig Hogan parlayed an ad that said ...
Female executives lead girl-power gala.(Business of Life)(Cathy M. Coughlin, president and CEO of AT&T Inc.)(Interview)
Mar 05, 2007; ... Byline: Mary Cameron Frey Cathy M. Coughlin, president and CEO of AT&T Midwest since June 2005, chairs the Girl Scouts of Chicago 2007 Tribute to Achievement dinner this week. The event will honor Brenda C. Barnes, chairman and CEO of Sara Lee Corp., with the group's Luminary ...
Modern Celtic Art.(Business of Life)
Mar 05, 2007; ... Byline: Margaret Littman Celtic imagery in baubles and bookends is as easy to find at a summer street festival as a cold beer and a hot brat. But Celtic fine art is a lesser-known gem. Contemporary American Celtic, New Visions 2007, a traveling group art exhibition, is coming to ...
Mayor Daley must prioritize Midway privatization.(Mayor Richard M. Daley)(Viewpoint essay)
Mar 05, 2007; ... Byline: Joseph Schwieterman Joseph Schwieterman is a transportation specialist at DePaul University. Mayor Richard M. Daley's 2004 proposal to lease Midway Airport to private operators as part of an experimental Federal Aviation Administration program has languished ...
How sellers arrive at magic number; Check the market, add intuition and avoid 9s.(Business of Life)
Mar 05, 2007; ... Byline: ED AVIS Most sellers know what they want when it comes to setting a price on their property: a handsome profit on whatever they paid for it. "I had a nice big number in my head that I wanted to make,'' says Stephanie Katsaros, who put her condo on the market ...
Tapping global market; Investment bankers pair with overseas companies to woo mid-size firms.(News)(Livingstone Partners-David Sulaski, Stephen Miles)
Mar 05, 2007; ... Byline: ANN SAPHIR Two local investment bankers have hooked up with a pair of overseas firms to court mid-size businesses. While global services for mergers and acquisitions used to be the purview of Wall Street firms serving large clients, "now it's rare that you ...
Corrections.
Mar 05, 2007 ... The release date of the movie "Disclosure'' was incorrect ...
Indoor racing on track; Go-cart facility nears deal on 2nd local site.(News)(Chicago Indoor Racing LLC)(Company overview)
Mar 05, 2007; ... Byline: H. LEE MURPHY Anthony F. Stewart opened Chicago Indoor Racing in a Buffalo Grove warehouse in 2003 with a fleet of go-carts that travel on tight racecourses at 35 miles an hour. Now he's ready to expand. Mr. Stewart, CEO of Chicago Indoor Racing LLC, is close ...
Need to Know.(Focus: Hispanic Business)(Brief article)
Mar 05, 2007 ... Byline: Source: 2005 study by Food Marketing Institute $133.20 Average amount a Hispanic family spends each week on groceries, 46% above the U.S. average. 26 ...
Playing up contrasts in a chic new spot; Charming Aigre Doux melds many influences.(Business of Life)(Restaurant review)
Mar 05, 2007; ... Byline: LAURA BIANCHI Nestled next to the behemoth bulk of the Merchandise Mart, Aigre Doux is the kind of chic little restaurant you would boast about discovering while on vacation in Paris. Part restaurant and bar, part bakery (opening soon), the corner restaurant is ...
Crown pulls out of golf, theaters; Entertainment ventures go through retrenchment.(News)(Henry Crown and Co.)
Mar 05, 2007; ... Byline: STEVEN R. STRAHLER The fickle golf business has confounded many sophisticated investors, including Chicago's billionaire Crown family. After positioning itself for a boom that never happened, Henry Crown & Co. is paring its golf-course unit, part of a ...
Ad agency fires CareerBuilder; Cramer-Krasselt stung by decision to review.(News)
Mar 05, 2007 ... Byline: JEREMY MULLMAN Crain News Service Cramer-Krasselt was asked to make CareerBuilder Inc. "famous,'' and, by just about any measure, the agency did just that. By the Chicago advertising agency's reckoning, it helped the job site overtake Monster.com to become a ...
Tenneco takes on Tokyo; As Big Three struggle, parts maker looks to Asia.(News)(Company overview)
Mar 05, 2007; ... Byline: JAMES B. TREECE TOKYO-Barely five weeks after taking the reins of Tenneco Inc. as chairman and CEO, Gregg Sherrill came to Japan in search of new business with Japanese carmakers. To be sure, Mr. Sherrill already sees the Lake Forest auto parts maker on the ...
Hospital site gets new lease on life; Revere Healthcare: No plan yet for Copley land.(News)(Copley Memorial Hospital )(Brief article)
Mar 05, 2007; ... Byline: H. LEE MURPHY The century-old Copley Memorial Hospital on the east side of Aurora has been vacant since it was closed in 1995 as the hospital prepared to move to a bigger campus. There has been a procession of owners since then, but the property has gone undeveloped. ...
MEET THE NEW NORM; Bobins' heir at LaSalle is a buttoned-down sort; same fruit plate every day.(News)
Mar 05, 2007; ... Byline: STEVE DANIELS Thirty years is a long apprenticeship, but perhaps not to someone like Larry Richman. Mr. Richman, who took over last week as chief executive of LaSalle Bank N.A. after three decades as a lieutenant of longtime CEO Norman Bobins, has a ...
POWER BILLS SOCK CONDO ASSOCIATIONS; As some electric costs triple, so will assessments; rate hike, exemption's end are one-two punch.(News)(Commonwealth Edison Co.)
Mar 05, 2007; ... Byline: MEGHAN STREIT As treasurer of his condominium association, George Panagakis expected his Lincoln Park building to see a 24% increase in electric rates this year-the standard hike for residential and small business customers of Commonwealth Edison Inc. But the ...
FOR PROFITS, LIFT AND PUSH; After tackling ketchup, Crystal Lake-based Aptar is taking on perfume samples.(Markets)(Financial report)
Mar 05, 2007 ... Byline: BOB TITA After conquering slow-moving ketchup, Crystal Lake-based packaging company AptarGroup Inc. is taking aim at perfume samples, which executives peg as a $100-million-a-year business. The company has developed a disposable paper and foil dispenser that ...
A hospital halt on tap; Construction freeze mulled as lawmakers debate reform plans.(News)
Mar 05, 2007; ... Byline: MIKE COLIAS Lawmakers in Springfield are discussing a moratorium on new hospital construction, a move that could stall billions of dollars in planned projects while legislators mull new ways to decide who gets to build and where. Talk of a temporary freeze is ...
Tough stance may prove too costly to Exelon.(Viewpoint essay)
Mar 05, 2007 ... Exelon Corp. must move quickly to defuse a powder keg of public anger over rising electric rates. Illinois legislators spent a full day last week listening to horror stories about rate surges sparked by deregulation of the state's electricity markets. The testimony came at a ...
They won't cut the price, but ... Incentives flourish, even for smaller sales; want a plasma TV with that?(Business of Life)
Mar 05, 2007; ... Byline: DARCI SMITH Cash. Cruises. Appliances. It may sound like a showroom full of prizes, but it's no game. More than 26,500 condos, townhouses, single-family homes and multi-unit dwellings were listed in mid-February in Chicago by the Multiple Listing Service of ...
Land bargains spur some deal seekers; Developers clear out lots amid slow market.(Business of Life)
Mar 05, 2007; ... Byline: H. LEE MURPHY It's not just housing that's a buyer's market right now; prices have also flattened for suburban land. Some investors are snapping up lots even if they don't intend to build immediately. David Jo, 41, president of Cypress Systems Consulting ...
Media Mogul on Trial; Conrad Black goes on trial next week. Will he walk?(News)
Mar 05, 2007; ... Byline: GREGORY MEYER After 16 months of legal motions and verbal fusillades, Chicago will see its first major post-Enron CEO trial begin next week, when the case of U.S. v. Conrad Black et al. opens in Room 1241 at the Dirksen Federal Building. For the next six ...
Trib foundation catches AG's eye; 'Concentration' in company shares draws scrutiny.(News)
Mar 05, 2007; ... Byline: STEVEN R. STRAHLER Illinois Attorney General Lisa Madigan has taken an interest in the Robert R. McCormick Tribune Foundation's vulnerability to underperforming Tribune Co. stock and possible role in a management-led restructuring of the media company. ...
Home Pager.(Business of Life)(Kimberly Jones)(Brief article)
Mar 05, 2007; ... Byline: Laura Bianchi Rookie real estate agent Kimberly Jones, 39, was top producer at Baird & Warner's Gold Coast office in 2006, with more than $24 million in closed sales and $40 million in deferred closings. She's been licensed since May 2005; everything she reads pays ...
Machinations; ONE POLITICAL MACHINE STRUGGLED LAST WEEK WHILE ANOTHER FLEXED NEW MUSCLE.(News)
Mar 05, 2007 ... Byline: Greg Hinz Call it a tale of two machines. One continues to lose its strength with age. The other is beginning to flex its political muscle. The first is Chicago's vaunted, if hoary, Cook County Regular Democratic Organization, which kept power over the county ...
Crain's list: high-end home sales.(Business of Life)(Public notice)
Mar 05, 2007 ... List includes 25 most expensive home sales in 2006 in Cook, Lake and DuPage counties and 10 most expensive sales in Kane, McHenry and Will counties. Data is gathered from county deeds by Record Information Services Inc. COOK $9,200,000 1406 N. Astor St. ...
Rental market set to heat up; Frustrated 'flippers' vie with apartment buildings for tenants.(News)
Mar 05, 2007; ... Byline: ALBY GALLUN The glut of downtown condominiums is spilling over into the apartment market, where landlords face increased competition from condo owners who rent out their units. Landlords, coming off their best year since 2001, aren't feeling the effects of ...
Mansueto's hedge fund headaches; Morningstar chief finds investment pools aren't forthcoming.(News)
Mar 05, 2007; ... Byline: ANN SAPHIR Morningstar Inc. CEO Joe Mansueto is finding it difficult to scale the wall of secrecy surrounding the $2-trillion hedge fund industry. Mr. Mansueto is expanding his hedge fund research because he sees it as a major growth area for his company. Last ...
Labor helps shape election.(Briefs)(Richard M. Daley re-elected as mayor of Chicago, Illinois)(Brief article)
Mar 05, 2007 ... Mayor Richard M. Daley was re-elected to a sixth term, garnering his lowest vote total ever but still easily defeating his opponents, Clerk of the Circuit Court Dorothy Brown and community activist and businessman William "Dock'' Walls. In the City Council, three incumbents were defeated - ...
At Deadline.(Late News)(Waterton Associates acquired Presidential Towers )(Sen. James Clayborne Jr. to propose a tax on power generators)(Antheus Capital planning for condominium construction)
Mar 05, 2007 ... Presidential Towers sells in $470 mil. range The billionaire Pritzker family has agreed to sell Presidential Towers to Waterton Associates, a Chicago-based apartment investor, sources say. An exact price could not be determined, but sources say it's in the $470-million range, ...
Cogenerating profits; Startup seeks capital to help plants go green.(News)(Thomas Casten of Recycled Energy Development LLC)
Mar 05, 2007; ... Byline: PAUL MERRION Westmont entrepreneur Thomas Casten has a simple mission: Make a profit while reducing greenhouse emissions. Mr. Casten aims to raise $500 million from private investors through his startup, Recycled Energy Development LLC, which will install ...
On the Move.(People)(appointments)
Mar 05, 2007 ... FINANCIAL SERVICES Banco Popular North America, Chicago: Roberto R. Herencia, 47, to president of Popular North America, in Chicago, and continuing as president of Banco Popular and executive vice-president of Popular Inc. and Banco Popular de Puerto Rico. BMO ...
Firefly Energy sets sights on supplying U.S. military; Firm developing batteries that can take heat in Iraq.(News)
Mar 05, 2007; ... Byline: BOB TITA A Peoria company says it can make a battery for U.S. military vehicles that will hold up in Iraq's brutal heat. Firefly Energy Inc., which split off from Caterpillar Inc. in 2003, says it's working on a prototype that can handle the 120-degree ...
This Week: Blagojevich floats new payroll tax.(Late News)( Rod R. Blagojevich)(Brief article)
Mar 05, 2007; ... Byline: Greg Hinz Gov. Rod Blagojevich's new budget later this week will propose not only a gross-receipts tax on business revenues but a payroll tax on most firms that do not provide health insurance for their workers, the governor's office confirmed Friday. Funds from the two ...
What's Happening.(News)(residential building law)(Brief article)
Mar 05, 2007 ... Who: 900 residential buildings; thousands of Chicago-area condo owners. Why: Common areas were classified as residential when the buildings switched to electric heat in the 1960s. On Jan. 1, ...
Aisle 5: chili peppers and sweet plantains; Supermarkets cash in on the Hispanic appetite.(Focus: Hispanic Business)(New American Dimensions LLC's president David Morse interviewed)(Interview)
Mar 05, 2007; ... Byline: SARAH A. KLEIN So how do you appeal to Hispanic taste buds? For answers to this complex and profitable question, we went straight to a pro: David Morse, president and CEO of New American Dimensions LLC, a Los Angeles-based multicultural market research firm that provides ...
CEOs & SCANDAL.(News)(Brief article)
Mar 05, 2007 ... WORLDCOM: BERNARD EBBERS Accused of: Conspiracy and securities fraud that cost shareholders $180 billion when WorldCom went bankrupt in 2002. Defense: Ignorance. Using so-called "aw-shucks" defense, he claimed he was unfamiliar with finance and accounting. ...
THE TRIAL OF MEDIA MAGNATE CONRAD BLACK.(News)
Mar 05, 2007 ... THE CHARGES Counts: Seventeen total, including mail, wire and tax fraud, racketeering, obstruction of justice and money laundering. Accused of: The core fraud charges relate to "non-compete" payments Mr. Black and three co-defendants received when Hollinger ...
Refiling, remediating at TDS is job one.(People)(Telephone and Data Systems Inc.)(Brief article)
Mar 12, 2007; ... Byline: Lorene Yue Job: Chief financial officer, Telephone & Data Systems Inc. (TDS), since Jan. 1. Vitals: 53 years old; bachelor's degree in business administration, Loyola University Chicago, 1977; master's degree, Kellogg School of Management, Northwestern ...
Rod's fig leaf; GOVERNOR USES ANTI-BIZ FACADE TO DISGUISE HIS TAX FLIP-FLOP.(News)(Rod Blagojevich)
Mar 12, 2007; ... Byline: Greg Hinz Anyone who's ever visited a museum knows what a fig leaf is: a wee bit of plant strategically placed on what clearly is a naked man. Who knew Gov. Rod Blagojevich was an art freak? Using "tax fairness'' as his fig leaf, the governor is ...
History of a Landmark.(News)(Chronology)(Brief article)
Mar 12, 2007 ... 1908: Montgomery Ward & Co. opens a warehouse for its catalog business. Early 1980s: Ward's shuts down most operations in the former warehouse. July 7, 1997: Parent company files for Chapter 11 bankruptcy protection. July 20, 1999: Chicago-based developer ...
Feds look hard at CME deal; Antitrust staff collects evidence on competitive impact of CBOT buyout.(News)(Chicago Mercantile Exchange and Chicago Board of Trade)
Mar 12, 2007; ... Byline: ANN SAPHIR Department of Justice antitrust lawyers are gathering evidence that could form the groundwork for a case to block the Chicago Mercantile Exchange's planned acquisition of the Chicago Board of Trade. Department investigators have asked customers and ...
Will a key customer run Cat off the road? Paccar to start making its own truck engines.(News)
Mar 12, 2007; ... Byline: BOB TITA One of Caterpillar Inc.'s largest customers is about to become a competitor. Paccar Inc., the nation's second-largest maker of heavy-duty trucks and the largest buyer of Caterpillar truck engines, is building an engine factory of its own. Once it's ...
ZANDER'S EXIT TAKE COULD TOP $56 MIL. Disclosures bring severance package into focus; will Moto shareholders balk?(News)
Mar 12, 2007 ... Byline: MEGHAN STREIT Motorola Inc.'s performance last year cost CEO Edward Zander his bonus, but it didn't tarnish his golden parachute. Mr. Zander's exit pay, explicitly disclosed for the first time in a company filing March 2, could range as high as $56.8 million, ...
For The Record.(Briefs)
Mar 12, 2007 ... J.S. II, the venture that controls the Bridgeport Village residential project, filed for Chapter 11 bankruptcy protection. The company lists $14.5 million in liabilities and assets with a book value of about $15.4 million. Industrial developer CenterPoint Properties Trust plans ...
Of myths and money; YOUNG ENTREPRENEURS 2007.(Focus: Small Business)(Brief article)
Mar 12, 2007; ... Byline: Thomas Mucha There's a certain heroic myth that goes along with being an entrepreneur in America-especially for young and successful ones. Think pimply Bill Gates and Steve Jobs fiddling with computers in their garages, or Google boys Larry Page and Sergey Brin creating ...
Entrepreneur's passion on view; 'Greatest' collection of Islamic ceramic art.(News)
Mar 12, 2007 ... Byline: ROBERT LOERZEL The Art Institute of Chicago is filling a gap in its collection-at least temporarily-with the help of a local entrepreneur. Since selling the book company he founded to Tribune Co. in 1993, Harvey B. Plotnick has developed a reputation as one of ...
Cabot sees recovery on horizon; Maker of microchip polish affirms its $500-mil. target.(News)
Mar 12, 2007 ... Byline: H. LEE MURPHY Demand for its products-chemical slurries used to polish semiconductors-has slowed, but Aurora-based Cabot Microelectronics Corp. is standing by its goal of $500 million in revenue by 2009. That would represent a 56% increase from 2006 sales. ...
Mexican retailer may set up shop in Chicago; Getting electronics store Famsa 'would be a coup'.(News)
Mar 12, 2007 ... Byline: H. LEE MURPHY A major Mexican retailer, Grupo Famsa S.A. de C.V., is eyeing a location at 26th Street and Kostner Avenue in Chicago's Little Village neighborhood. It would be the first Chicago-area location for Grupo Famsa, an appliance and electronics ...
ComEd's rate increase turns off small biz; Utility: Competition is 'pleasant surprise'.(News)(Commonwealth Edison Co.)
Mar 12, 2007 ... Byline: STEVE DANIELS A surprising number of small businesses bought their electricity from a supplier other than Commonwealth Edison Co. in the weeks following the electric utility's 24% rate increase, according to state regulators. As of Jan. 31, 8% of the 224,511 ...
Deconstructing Moto's surge; What role did Garriques play in handset success?(News)(Motorola Inc.)
Mar 12, 2007; ... Byline: PHIL CARSON News that the chief of Motorola Inc.'s handset division, Ron Garriques, was jumping to Dell Inc. rocked the cellular industry last month. But, with the dust settled, many are wondering how important Mr. Garriques was to Motorola and how the ...
A tabloid-worthy trial?(Business of Life)(Brief article)
Mar 12, 2007; ... Byline: SHIA KAPOS News of the pending trial of media tycoon Conrad Black reads like a juicy novel, full of lavish spending by a powerful man and beautiful woman who together enjoyed a life of wealth, high society and intellectual pursuits. Now looms the possibility that the ...
Datebook.(Calendar/Datebook)(Calendar)
Mar 12, 2007 ... THIS WEEK MARCH 12: Congresswoman Melissa Bean presents Small Business Forum: Doing Business in a Global Economy. 8:30 to 10 a.m. Harper College, Wojcik Conference Center, 1200 W. Algonquin Road, Palatine. Free. (847) 519-3434. MARCH 12-13: John Marshall Law School ...
Buy one, get one free.(Focus: Small Business)(CouponCabin Inc.'s Scott Kluth)(Interview)
Mar 12, 2007; ... Byline: As told to Emily Stone People thought I was nuts when I started CouponCabin Inc. I was 25, working for a major dot-com, making $100,000 a year. I didn't understand how to run a business. But I had an idea I thought was spot on. The concept was born in 2001 ...