Crain's Chicago Business back issues from February 2008:
Corrections.(Correction notice)
Feb 04, 2008 ... Nielsen Co. acquired Telephia Inc. for $440 million. Also, NNN Realty Advisors Inc. acquired Grubb & Ellis Co. for $247.7 million. This information was incorrect in Crain's List of largest mergers and acquisitions in 2007 (Jan. 21). A corrected version of the list ...
Putting it all together; Well-Balanced.(Focus: Finance)(Thomas E. Werner)(Occupation overview)
Feb 04, 2008; ... Byline: Daniel Rome Levine Thomas E. Werner 50, Hospira Inc. Years on the job: 11/2 Years with Hospira: 11/2 Biggest challenge: Integrating the finance and information technology areas of generic-pharmaceuticals maker Mayne Pharma ...
Invest in workers to keep Chicago the city that works.(Opinion)
Feb 04, 2008 ... Byline: Allan F. "Duffy'' Gaynor Allan F. "Duffy'' Gaynor is Chicago senior location executive for IBM Corp. "The city that works.'' The motto conjures up images of steel mills, factories, stockyards and packing houses-the type of labor that helped build Chicago into ...
A brave new numbers world.(Focus: Finance)
Feb 04, 2008 ... Byline: Michelle Evans The chief financial officer's role is shifting as companies expand globally and face more compliance regulations. Crain's asked Linda Imonti, the service line leader for KPMG LLP's CFO Advisory Services group, what's keeping CFOs up at night. ...
Opening.(Business of Life)(Chicago Auto Show )(Brief article)
Feb 04, 2008 ... Chicago Auto Show Lake Shore Drive and 23rd Place (630) 424-6030 www.chicagoautoshow.com 10 a.m.-10 p.m. Friday-Sunday Tickets: $10 adults; $5 children The auto show pulls into McCormick Place ...
Zell's mean curveball; Potential Cubs owners are steaming over plan to sell stadium to state.(News)
Feb 04, 2008 ... Byline: MIKE COLIAS AND ANN SAPHIR Tribune Co.'s proposal to sell Wrigley Field to the state is alienating would-be buyers of the Chicago Cubs who say owning the team without the iconic stadium would be like a day in the bleachers without a cold beer. "The Cubs and ...
Biting Into Sales; Investors mark down Acco as big-box competition crimps office supplier's bottom line.(Markets)
Feb 04, 2008 ... Byline: BOB TITA Acco Brands Corp., maker of Swingline staplers, paper shredders and other office gear, is getting a poor performance review from Wall Street. Shares of the Lincolnshire-based company have fallen 40% in the past 12 months, reaching an all-time low of ...
Spending slump leads to closures; Softer rents, space glut add to retailers' woes.(News)
Feb 04, 2008 ... Byline: FRANK BYRT Crain News Service With prospects of a sharp decline in consumer spending after a disappointing holiday sales season, retailers are announcing store closings at an alarming rate, casting a pall over the resale value of retail commercial real estate nationwide ...
Retail vacancies increase locally; New numbers reflect 'economic doubts' of market, report says.(News)
Feb 04, 2008 ... Byline: EDDIE BAEB The vacancy rate for retail space in the Chicago area edged higher in the fourth quarter, climbing for the second consecutive quarter, as retailers tempered their plans to add new stores amid mounting concerns about the economy, the beleaguered housing market ...
Realtor ads defy housing slump; $40-million campaign touts ownership value.(News)
Feb 04, 2008; ... Byline: ALICE Z. CUNEO Crain News Service The housing bubble has burst. Almost three-quarters of a million Americans are in foreclosure. The median price of a single-family home recently fell for the first time in at least 40 years; many predict it will drop further in 2008. ...
News tidbits flow like Champagne.(Business of Life)(Albert Berger's "Hamlet 2'' sold to Focus Features for a whopping $10 million)(Brief article)
Feb 04, 2008 ... Forget TV, blogs or even-gasp-newspapers. Chicago's air-kiss crowd gets its news via the party circuit. And last week was an action-packed edition. At a froufrou private gathering, Chicago's glitterati were sipping Dom Perignon rose when they heard that designer Maria ...
City's tech star fading from view; Moto woes signal Chicago's eclipse.(News)(Motorola Inc.)
Feb 04, 2008; ... Byline: JOHN PLETZ The loss of Motorola Inc.'s cell phone business would reduce Chicago to a pin-dot on the global technology map and set the stage for the dismantling of a giant that helped shape the region's corporate landscape for generations. The 80-year-old ...
How to hire one; The secrets to finding, and keeping, your CFO.(Focus: Finance)
Feb 04, 2008 ... Byline: SAMANTHA STAINBURN The average tenure for a chief financial officer of a Fortune 500 company is 51/2 years, according to a 2007 study by Crist Associates, a Hinsdale executive search firm that recruits for clients like Kraft Foods Inc. and Baxter International Inc. The ...
A Mano not quite fully baked yet; Promising menu falls short on the plate; salumi, pizza stand out.(Business of Life)(Mano's Restaurant )(Viewpoint essay)
Feb 04, 2008; ... Byline: LAURA BIANCHI As much as I enjoy Bin 36's contemporary American style, I cannot warm up to its Italian cousin, A Mano, opened late last year by the same team. Located beneath the eight-year-old River North mainstay, A Mano ("by hand'') is a contemporary ...
News Driven.(Business of Life)(Patrick Dealer Group)(Brief article)
Feb 04, 2008; ... Byline: Laura Bianchi Other than his BMW 535xi, Hanley Dawson IV's favorite wheels are his road and mountain bikes. Co-president and co-CEO of Patrick Dealer Group Schaumburg, Mr. Dawson, 39, decompresses on lengthy trail rides. During pit stops, he follows: News on ...
Strategic growth for humanities festival.(People)
Feb 04, 2008 ... Byline: Lorene Yue Job: Executive director, Chicago Humanities Festival, since Oct. 1. Vitals: 47 years old; bachelor's degree in philosophy, Cornell University, Ithaca, N.Y., 1982; master's in fine arts, Columbia University's School of the Arts, New York, 1984; fact ...
FORECLOSURE OVERLOAD; Non-profit credit counselors struggling under crush of clients.(News)
Feb 04, 2008; ... Byline: STEVE DANIELS These days, the small waiting room at the Spanish Coalition for Housing is often crowded with people hoping that Ofelia Navarro and her staff can help them hold onto their homes. Ms. Navarro says she and her Humboldt Park agency's five financial ...
Final Tally; Candidates weren't the only winners and losers in last Tuesday's vote.(News)
Feb 11, 2008; ... Byline: Greg Hinz Barack Obama and Hillary Clinton weren't the only candidates on the ballot Super Tuesday. A few other races are worth special attention because of their wide, continuing impact. The evening's biggest winner-besides Anita Alvarez in her upset win for ...
Airlines near Midway deal; Carriers expect to sign off soon on Daley's privatization plan.(News)
Feb 11, 2008 ... Byline: PAUL MERRION Mayor Richard M. Daley's plan to privatize Midway Airport is gaining altitude. Airlines operating at Midway say an agreement is near that would allow the city to seek a private operator for the South Side airport, a deal expected to raise up to ...
Charities join forces; Groups consolidating back-office operations as budget woes deepen.(News)
Feb 11, 2008; ... Byline: MONEE FIELDS-WHITE With declining government funding and growing demand for services, nine of Chicago's largest charities are merging their back-office functions to cut costs. The YMCA and YWCA, Kids Hope United, Metropolitan Family Services and others aim to ...
On the Move.(People)(Rosebud Restaurants promotes Thomas J. McDermott to chief financial officer)(Verizon Wireless Inc. promotes Christine Berberich to vice president)(Northeastern Illinois University promotes Carla Knorowski to vice president)
Feb 11, 2008 ... Consumer services Food for Thought, Lincolnwood: Thomas J. McDermott, 45, to chief financial officer, from CFO at Rosebud Restaurants. Morton's Restaurant Group Inc., Chicago: Kate Shehan, 43, to vice-president of human resources, from vice-president and director of ...
FINDING TEXTBOOK EXAMPLES FOR THE VALUE INVESTOR; A Conversation with Money Manager Alvin Marley.(Markets)(Alvin Marley of Lombardia Capital Partners)(Interview)
Feb 11, 2008; ... Byline: Bruce Blythe Alvin Marley, 60, managing director, Lombardia Capital Partners, Chicago Experience: 34 years Assets under management: $316 million Crain's: As a value investor, you've spied bargains in real estate investment trusts. Care ...
CONDO CONTRARIAN; Corus CEO Glickman is betting the bank on condo loans, even as market melts down.(News)(Robert J. Glickman of CORUS Bankshares Inc.)
Feb 11, 2008; ... Byline: STEVE DANIELS Robert J. Glickman's desk is piled high with manila folders, all files on condominium construction loans made by Corus Bank, one of the biggest condo lenders in the United States. While other lenders flee the collapsing condo market, Mr ....
Fed cuts prove a boon for broker; Interest rate dips help O'Brien's fortunes rise.(News)
Feb 11, 2008 ... Byline: ANN SAPHIR R. J. O'Brien & Associates Inc., one of Chicago's oldest futures brokers, has dodged a bullet, according to its CEO. When the family-owned operation was bought out last year by a pair of private-equity firms, it took on $535 million in debt ....
Frequent Frustration; As miles become harder to use, airlines risk hurting their programs' value.(News)(Ryan Rassin of Orchard First Source Capital Inc.)
Feb 11, 2008; ... Byline: JOHN PLETZ Ryan Rassin got an unpleasant surprise recently when he tried to redeem his frequent-flier miles on United Airlines for a long weekend getaway this spring. To leave or return on the days he wanted, he would have to spend double the 25,000 miles per ...
Opening/On Sale.(Business of Life)
Feb 11, 2008 ... Opening "Andy Warhol's Silver Clouds" 820 N. Michigan Ave. (312) 915-7600 www.luc.edu/luma 10 a.m.-5 p.m. Saturday, Sunday Suggested admission: $6 general Silver, helium-filled "pillows" float through the ...
The art of selling out; CRAFTING THE PERFECT EXIT STRATEGY.(Focus: Small Business)(Brief article)
Feb 11, 2008; ... Byline: Thomas Mucha Why did you start your business? You had an original business idea that had to happen? You wanted the challenge of creating something new? You needed to be your own boss? Common answers, all, to this ...
Stock exchange power play; Arbor leads dissident group agitating for change at CHX.(News)(Chicago Stock Exchange Inc.)
Feb 11, 2008; ... Byline: ANN SAPHIR Former futures industry kingpin Patrick Arbor is calling for the ouster of Chicago Stock Exchange CEO David Herron, saying the 126-year-old institution is missing out on merger opportunities. Mr. Arbor, local hedge fund manager Thomas Kornmeier and ...
The Sun-Times: a casualty of the Internet age?(Opinion)(Sun-Times Co.)(Viewpoint essay)
Feb 11, 2008; ... Byline: Joel Weisman Joel Weisman is a locally based commentator and host of WTTW-TV/ Channel 11's "Chicago Tonight: The Week in Review.'' There have been some brutal layoffs (and confidential buyouts to avoid being laid off) at the Chicago Sun-Times, the city ...
When opportunity calls; Want to sell a business? Then it's time to get started on the homework.(Focus: Small Business)
Feb 11, 2008; ... Byline: CYNTHIA HANSON In July 2006, Chicago entrepreneur Joseph Sameh got an unexpected call. American Medical Alert Corp., a New York company that sells medical alert devices, wanted to buy his two businesses: American MediConnect Inc., an answering service for ...
Get your money's worth.(Focus: Small Business)(Theodore Polk of Citi Capital Strategies)(Interview)
Feb 11, 2008; ... Byline: CYNTHIA HANSON Last year, Citi Capital Strategies investment banker Theodore Polk closed six deals involving Chicago entrepreneurs, advising them on the sale or recapitalization of their middle-market businesses in industries as varied as software, publishing and ...
Need to Know.(Focus: Small Business)
Feb 11, 2008 ... $2.7 million Amount Ray Kroc paid the McDonald brothers in 1961 for the rights to the Golden Arches. $22.8 billion McDonald's revenue last year. $1.6 million Amount Bryant Kiel ...
Biz for sale: click here Low costs, big reach; bring more sellers online to find buyers.(Focus: Small Business)
Feb 11, 2008; ... Byline: CYNTHIA HANSON If it weren't for the Internet, Ernie Kaplan probably wouldn't have found a buyer for his company just two months after putting it on the market. Last year, Mr. Kaplan hired Sunbelt Business Brokers in Chicago to sell Kaplan Trucking & Paving ...
Is the party over? How networking can lead to a sale-even when it feels premature.(Focus: Small Business)(CashNetUSA)
Feb 11, 2008; ... Byline: CYNTHIA HANSON At a business conference in Las Vegas in March 2006, Al Goldstein planned to network with fellow entrepreneurs-not find a buyer for CashNetUSA, an Internet-based payday loan company he'd co-founded less than two years earlier. But while he was ...
Bring in the broker; Want the deal to go smoothly? Sounds like you need a professional.(Focus: Small Business)
Feb 11, 2008; ... Byline: CYNTHIA HANSON When it came to starting and selling a business, Julie Northcutt had the benefit of good timing. Eight years ago, Ms. Northcutt read a magazine article about Home Instead Inc., a home-care provider for seniors that had recently opened 300 ...
For The Record.(Briefs)(Continental Airlines Inc. and United Air Lines Inc. are in advanced talks for a deal)
Feb 11, 2008 ... Continental Airlines wants to do a deal with UAL only if another merger of rivals is struck first, says a person close to Continental. The United parent is in serious talks with Continental for the second time in less than a year. From Continental's perspective, any deal would be a ...
Corrections.(Correction notice)
Feb 11, 2008 ... In a Jan. 28 Focus section map, the location of the Railway Exchange Building was misidentified. It is on the northwest corner of Jackson Boulevard and Michigan Avenue. A Feb. 4 story incorrectly reported that Wm. Wrigley Jr. Co. sold Wrigley Field and the ...
Obama, McCain come out ahead.(Briefs)(Barack Obama and John McCain )(Brief article)
Feb 11, 2008 ... Barack Obama routed Hillary Clinton in the Feb. 5 Illinois presidential primary, a home-state victory that offered the Democrats one of the richest delegate prizes in the nation. On the Republican side, John McCain easily defeated Mitt Romney, who dropped out days later. The Super Tuesday ...
Destination: Belize.(Business of Life)(City overview)
Feb 11, 2008; ... Byline: Anne Ford GET AWAY: Less than seven hours' flight from Chicago, Belize offers a tropical escape that's both relaxing (white-sand beaches, resorts galore) and engaging (archeological excursions, wildlife preserves). And you don't even have to switch time zones-or ...
BAXTER'S LIFEBLOOD; Potential topping-out of plasma prices endangers record share run-up.(Markets)
Feb 11, 2008 ... Byline: MIKE COLIAS Lofty prices for plasma, the protein-laden fluid component of blood, have Baxter International Inc. in the pink. Shares of the Deerfield-based company have climbed 22% in the past 12 months, tops among U.S. health care equipment providers, as ...
Datebook.(Calendar/Datebook)(Calendar)
Feb 11, 2008 ... THIS WEEK FEB. 12: Illinois CPA Society presents Tax Landscape of a Mergers & Acquisitions Deal. 8:30 to 10:30 a.m. Metropolitan Chicago Healthcare Council, 222 S. Riverside Plaza, 19th floor. Fee: $170 members, $205 non-members. (800) 993-0393. FEB. 12: Lansky ...
Expanding Cole Taylor's commercial biz.(People)(Mark Hoppe of Cole Taylor Bank)(Occupation overview)
Feb 11, 2008; ... Byline: Lorene Yue Job: President and CEO, Cole Taylor Bank; president, Taylor Capital Group Inc. (holding company for Cole Taylor), since Feb. 4. Vitals: 54 years old; bachelor's degree in finance, University of Wisconsin-Madison, 1976; master's in business ...
State circling Peotone land; Next step for 3rd airport: settle property issues.(News)
Feb 11, 2008; ... Byline: PAUL MERRION While prospects for building the Chicago area's third major airport are still up in the air, the state is stepping up efforts to buy farms and residential properties it needs for the project near Peotone. "We are about to start some ...
Green spaces thrive in own little worlds; Terrariums defy winter; artists make glass pieces striking on their own.(Business of Life)(Judy A. Saslow)
Feb 11, 2008; ... Byline: JENNIFER OLVERA Gallery owner Judy A. Saslow cultivated a suburban garden before moving to Streeterville, so she was pleased to find an unusual way to indulge her green thumb in the city. "I've always been addicted to plants,'' says Ms. Saslow, who owns an ...
Crain's hires graphics editor.(News)(Crain's Chicago Business appoints Jason McGregor)(Brief article)
Feb 11, 2008 ... Jason McGregor has joined Crain's Chicago Business as graphics editor. Mr. McGregor, 30, comes to Crain's from the Daily Herald in Arlington Heights, where he held a variety of graphic design positions, most recently as designer ...
McCain could be spark that revives Ill. GOP.(Opinion)(John McCain)
Feb 11, 2008 ... John McCain's strong showing in last week's presidential primaries offers a ray of hope to the benighted Illinois Republican Party. Mr. McCain represents a traditional strain of GOP thought that's more in line with the philosophy of the Illinois party. Like most Illinois ...
Is N.Y. chain good fit for Walgreen?(News)(Jeffrey A. Rein of Walgreen Co.)
Feb 11, 2008; ... Byline: MONEE FIELDS-WHITE CEO Jeffrey A. Rein aims to expand Walgreen Co.'s presence in the Northeast-territory dominated by archrival CVS Caremark Corp.-and some observers think he could get there quickly by acquiring a well-known drugstore chain in the region, Duane Reade ...
Crain's Picks.(Business of Life)
Feb 11, 2008 ... Byline: Crystal Yednak COMEDY "Chris Rock: No Apologies'' 5400 N. River Road Rosemont (312) 559-1212 www.ticketmaster.com 7:30 p.m. Thursday- Sunday Tickets: $45.50-$75.50 The talented ...
Music Lessons Play On At Work.(Business of Life)(Brief article)
Feb 11, 2008; ... Byline: Kevin Davis Squeezed for time, but want to learn to play an instrument? Music teachers are striking a chord with lunchtime piano and guitar lessons for downtown office workers. Roland Moyer, founder of Lunch Time Lessons, carries a portable electronic ...
Score Keeper.(Business of Life)(Jim Corno of Comcast Corp.)(Brief article)
Feb 11, 2008; ... Byline: Christina Le Beau Jim Corno, 60, president of Comcast SportsNet Chicago, has the TV on all day in his office so he can channel-surf to see how other networks cover the same stories. But he's also a book buff and an avid restaurant Googler. More: Gets sports ...
Hugo's Frog Bar: solid, if a bit overshadowed; Gibsons' seafood sibling deserves attention, too.(Business of Life)(Gibsons Bar & Steakhouse)
Feb 11, 2008; ... Byline: ALISON NEUMER LARA On its own, Hugo's Frog Bar is the consummate seafood house: great fish, simply and expertly prepared, accompanied by solid service and a lively atmosphere. But it's tough to talk about the restaurant's Gold Coast location without ...
Radler sues ex-pal Trump; Headed to prison, former Sun-Times exec still wants his condo.(News)(David Radler and Donald Trump of Chicago Sun-Times Inc. Star Publications)
Feb 11, 2008; ... Byline: ALBY GALLUN F. David Radler, the convicted former Chicago Sun-Times publisher whose testimony helped send media baron Conrad Black to prison, is going back to court against another one-time business associate: Donald Trump. Mr. Radler has sued Mr. Trump over ...
Fundraiser suffers Oscar night suspense.(Business of Life)(Brief article)
Feb 11, 2008; ... Byline: Shia Kapos So much for hitching your fate to Oscar's star. The Hollywood writers' strike threw the star-studded telecast into limbo, causing headaches for hosts of an annual Oscar-night fundraiser in Chicago to benefit Autism Speaks. The "Evening ...
Nutrition advice: meaty enough? Chicago expert puts fresh face on tips from American Dietetic Assn., but some find group's approach a bit thin.(Business of Life)(Dawn Jackson Blatner)
Feb 11, 2008; ... Byline: LISA BERTAGNOLI It is an arctic-cold Friday in January, and Dawn Jackson Blatner is promoting a new diet on Chicago-based morning talk show "In the Loop with iVillage'' on WMAQ-TV/Channel 5. Ms. Blatner, 32, created the "3-4-5 Diet,'' which calls for 300 ...
All eyes on ears; As corn prices rise, Wall Street loses its appetite for sweetener maker Corn Products International.(Markets)
Feb 18, 2008 ... Byline: BOB TITA Investors are souring on one of the country's biggest makers of sweeteners. Shares of Westchester-based Corn Products International Inc. have dropped more than 20% since the end of October, as futures contracts for the price of corn rose to a 12-year ...
Opening.(Business of Life)
Feb 18, 2008 ... "Our Enemies: Lively Scenes of Love and Combat" 77 W. Washington St. (866) 811-4111 www.srtp.org 7:30 p.m. Thursday; 8 p.m. Friday, Saturday; 4 p.m. Sunday Tickets: $18-$30 In this world-premiere production by the Silk ...
Now on sale.(Business of Life)
Feb 18, 2008 ... * Lincoln Park Zoo's "Leap Into Hot Winter Night," Cafe Brauer, 8 p.m. Feb. 29. Tickets: $75, www.lpzoo.org, (312) 742-2306 * Mandy Patinkin, Chicago Theatre, 8 p.m ....
Nice try, but one size does not fit all; @@Byline: Samantha Stainburn.(Focus: Law)(Clough Kitslaar)(Interview)
Feb 18, 2008; ... Byline: Samantha Stainburn The devil's in the details when drawing up contracts with a joint-venture partner, buyer, supplier or any other company. Crain's asked Elizabeth "Libby'' Clough Kitslaar, 50, a corporate lawyer with Jones Day, what companies need to see in the fine ...
I'm fired? You're sued!(Focus: Law)(Joan Eagle)(Interview)
Feb 18, 2008; ... Byline: Samantha Stainburn The U.S. Equal Employment Opportunity Commission received 83,000 charges of employment discrimination in 2007. Meanwhile, 35% of private companies have been sued by an employee recently. Crain's asked Joan Eagle, 68, an employment lawyer at Schwartz ...
What's this gonna cost? With legal fees rising, companies strike back.(Focus: Law)
Feb 18, 2008; ... Byline: SAMANTHA STAINBURN For those in business, the statistics are frightening. Last year, 83% of U.S. companies were slapped with a lawsuit. Of those, one-third had six to 20 suits to contend with-everything from employment complaints to contract disputes and personal injury ...
The end of hourly fees?(Focus: Law)
Feb 18, 2008; ... Byline: Samantha Stainburn The almighty billable hour may not be so mighty for long. With a glut of law firms and no end to new cases, companies are in a better position than ever to name their price. But that doesn't mean everyone's doing it. Yet. While ...
How's the weather affecting you?(News)
Feb 18, 2008 ... Byline: Matthew Rusling Crain's asked Chicagoans about the impact the snow and cold are having on their business or spending. BUSINESS IS SLOW: "On the really cold days, there's just nobody here.'' Catherine Law, 22, wholesale representative, ...
BRRRR! Bitter winter chills local merchants.(News)
Feb 18, 2008; ... Byline: VIRGINIA GROARK AND CRYSTAL YEDNAK The snowiest winter in almost 30 years is putting the freeze on local commerce. Snowdrifts, slushy sidewalks and bone-chilling cold are keeping Chicagoans curled up on the couch and out of stores, restaurants and bars ....
Small-town suit shops fade from scene.(Business of Life)
Feb 18, 2008 ... Byline: H. Lee Murphy Michael J. Gresk, a bank manager and the mayor of Wheaton, insists there is hardly a man in the city without a Gaede's suit in his closet. "I know people here who never shopped anywhere else for their clothes,'' says the 57-year-old Mr. Gresk, a ...
Another step toward Midway lease.(Briefs)(Midway Airport )(Brief article)
Feb 18, 2008 ... Midway Airport is taxiing toward a singular distinction: becoming the first major U.S. airport to go private. The city announced that most carriers there back a plan that calls for leasing the South Side airfield to a private operator for at least 50 years, raising up to $3 billion ....