Crain's Chicago Business back issues from October 2009:
The Not-Even-Second City; Blessing in disguise: Spotlight on city's most-urgent needs.
Oct 05, 2009; ... Byline: JOHN PLETZ Losing the Olympics bidding contest deprives Chicago of a chance to strut the world stage, tap gushers of federal cash and fast-track transit upgrades and neighborhood redevelopment projects. It also saves the city from an open-ended financial ...
ABBOTT'S HUNTING; More acquisitions likely as $6.6-billion Solvay deal fails to add blockbuster to its pipeline.
Oct 05, 2009; ... Byline: MIKE COLIAS Miles White won't get nearly as much for $7 billion as he did eight years ago. The Abbott Laboratories CEO paid about that much in 2001 to buy a German drugmaker and its anti-inflammatory drug Humira, a blockbuster that has fueled Abbot's growth ...
ALDI NABSJEWEL'S TURF; Discounter poised to eclipse market titan in city store count.(Jewel Food Stores Inc.)
Oct 05, 2009; ... Byline: DAVID STERRETT Jewel Food Stores, already fending off an incursion by Wal-Mart Stores Inc. on its suburban flank, now faces pressure inside Chicago city limits from another discount competitor: Aldi. The international discount grocery chain is mounting an ...
"Curiously strong' star tapped for Web series; "Brainstorm' wants Altoids to connect with hip, urban crowds.
Oct 05, 2009; ... Byline: RITA CHANG Imagine a comedy series built around internal rivalries, bad client pitches and every conceivable behind-the-scenes goings-on at an ad agency. You've got the everyman art director, the cocky jerk management hired to revive the struggling business, and, ...
Corporate Boards.(Brief article)
Oct 05, 2009; ... Byline: Matthew Carmichael and H. Lee Murphy CUTBACKS ARE EVERYWHERE, RIGHT? Workers face layoffs, and executives are visiting Congress in a Chevy V6 instead of jetting in on a Gulfstream V. In 2008, however, the boardroom was still a reasonably comfortable place. Chicago-area ...
Worst: Brunswick Corp.(Financial report)(Brief article)
Oct 05, 2009 ... Directors at boatmaker Brunswick Corp. haven't brought shareholders much return in the past year. But they may deserve some credit for keeping the company intact through the industry's worst downturn in decades. The stock hit a low point below $2 last Thanksgiving, down from $14 ...
Worst: Deerfield Capital Corp.
Oct 05, 2009 ... Deerfield Capital Corp. has been scrambling over the past year to remake its image. That's no surprise considering the company's prime mission since its founding in the mid-1990s had been to invest in mortgage-backed securities, the foulest of all toxic assets. The Chicago ...
Best: Female Health Co.(Financial report)
Oct 05, 2009 ... Asian manufacturing is lifting the bottom line of Female Health Co., the Chicago-based maker of female condoms that plans to shut down its factory in England. Production of the condom has been transitioning over the past two years from England to Malaysia. An expansion in ...
Best of the Best; Lifeway Foods Inc.(Brief article)
Oct 05, 2009 ... Morton Grove-based Lifeway Foods Inc. is finding a market for kefir, a yogurt-like beverage with Eastern European origins. Already the No. 1 U.S. producer of kefir, Lifeway in February made a $14-million cash-and-stock deal to buy the No. 2 brand, Fresh Made Inc. in ...
Worst of the Worst; 139 Motorola Inc.(Brief article)
Oct 05, 2009 ... Over the past three years, Motorola Inc.'s sliding stock price has mirrored its plummeting marketshare in mobile phones. In 2006, when the Schaumburg electronics giant's stock exceeded $25 a share, its global marketshare in cell phones was 22%. Today its marketshare has fallen ...
Directors still prefer face-to-face confabs.
Oct 05, 2009; ... Byline: H. Lee Murphy Public companies around Chicago are investing in video cameras for employees' computers, and "telecon has become practically a substitute for the word "meeting in many mid-level management offices. When it comes to corporate directors, ...
Worst: CME Group Inc.(Brief article)
Oct 05, 2009 ... CME Group Inc.'s many cooks have landed it in hot water. A whopping 31 non-executive directors guide the exchange operatorthe largest board of any U.S.-based public company and nearly double the next largest Chicago-area board. Annual compensation averages $198,000 and ranges ...
Best: CNA Surety Co.(Financial report)(Brief article)
Oct 05, 2009 ... The commercial insurance industry had its own casualties in 2008. Dismal returns in the mortgage and financial guarantee segments helped topple giant insurers such as American International Group Inc. and drag down results for the sector. Net premiums written fell for a third straight ...
Corrections.(NEWS)(Correction notice)
Oct 05, 2009 ... *A Sept. 28 Business of Life story about inventor Lori Greiner should have said she holds both utility and design patents. *Kevin Jackson is ...
"Crain's University'program to focus on middle-market firms.(Brief article)
Oct 05, 2009 ... Crain's Chicago Business will hold its first "Crain's University this month with a half-day program designed to provide actionable business learning for owners and top executives at middle-market companies. Presenters at the Oct. 14 event will include Rich Melman, founder and ...
Billionaire buys out Michigan Ave. landowner.(Amancio Ortega Gaona)(Brief article)
Oct 05, 2009; ... Byline: EDDIE BAEB Spanish billionaire Amancio Ortega paid another $16 million for the Michigan Avenue block that's home to Ralph Lauren and Tiffany & Co., this time to take control of a portion of the property subject to a long-term ground lease. The new deal, which ...
The Not-Even-Second City; Newly vulnerable Daley needs another cause after Olympics loss.
Oct 05, 2009; ... Byline: GREG HINZ Now we find out what Richard M. Daley is made of. Chicago's stunning last-place finish in the 2016 Olympics contest caps what may have been the worst year of Mr. Daley's 20-year mayoral reign, adding international rejection to buckets of red ink, ...
Datebook.(NEWS)(Calendar)
Oct 05, 2009 ... THIS WEEK OCT. 6: Score presents Going Into Business: Evaluate Yourself, Take First Steps. 8:45 a.m. to 12:30 p.m. Score, Citicorp Center, 500 W. Madison St., Suite 1250. Fee: $50. (312) 353-4540. OCT. 7: Brennan School of Business at Dominican University presents ...
Chicago Humanities Festival, 20th anniversary benefit,"The Best is Yet to Come.(Brief article)
Oct 05, 2009 ... Chicago Humanities Festival, 20th anniversary benefit,"The Best is Yet to Come When: 6 p.m. Thursday Where: Four Seasons, 120 E. Delaware Place How much: $500 and ...
Is defense chief Boeing's next CEO? Young Muilenburgrising fast, despite work on failed projects.(NEWS)
Oct 05, 2009 ... Byline: PAUL MERRION Dennis Muilenburg's rise to the top of Boeing Co.'s $34-billion defense business has caught the military-industrial world by surprise. Not only is Mr. Muilenburg, at 45, considered young for the job, but he spent much of the previous decade ...
Best: HUB Group Inc.(Financial report)
Oct 05, 2009 ... Facing the death of its founder, the bankruptcy of a key client and the recession, HUB Group Inc. managed to weather 2008 and post another year of revenue growth. It also appeared near the top of this year's compensation listings. Roughly 70% of Downers Grove-based ...
What does Jim Beam exit say about Nascar? Spirits marketers endsponsorships, fueldebate about category.(NEWS)
Oct 05, 2009 ... Byline: RICH THOMASELLI After spending what seemed like decades trying to crack Nascar's ban on sponsorships by hard-liquor brands, spirits companies received the go-ahead from the auto-racing league in 2004. But after only five years, two of the three biggest sponsors in the ...
Easy condo credit makes a comeback; Low rates echo bubble era as construction lender fills mortgage gap.
Oct 05, 2009; ... Byline: ALBY GALLUN It's a lot tougher to get a mortgage for a new condo purchase these days, but at some projects, it seems like 2005 all over again. MB Financial Inc. is offering enticing loan deals at several local condominium developments, including ultra-low ...
Liquid diet: Overstock piling up in retail swoon; For liquidators, "a great time' to be selling flood of unsold goods.
Oct 05, 2009; ... Byline: MONEE FIELDS-WHITE As retailers around the country wither away, Jeff Hoffman's warehouses are filling up. The CEO of Enable Holdings Inc. runs two Web sitesUBid.com and RedTag.comthat buy unsold inventory from stores, at a fraction of the wholesale price, and ...
South Loop property facing foreclosure; Bank says developer defaulted on loan, sues him for $20 mil.(NEWS)(Keith Giles )(Brief article)
Oct 05, 2009; ... Byline: ALBY GALLUN Caught by the depressed market and the credit crisis, developer Keith Giles faces foreclosure on a South Loop property where he had planned a 479-unit condo project. National City Bank has sued to collect $20.2 million from Mr. Giles and partner ...
Mayor should give Olympics team new goal.(NEWS)(Brief article)
Oct 05, 2009 ... Chicago's Olympics loss should mark the beginning of a new campaign to position the city to prosper in the 21st century. Mayor Richard M. Daley should not disband his blue-chip Olympics bid committee, but give it a new charge: create and implement a comprehensive plan to make ...
On the move.(NEWS)(Chicago Baseball Museum)
Oct 05, 2009 ... ARTS/ENTERTAINMENT CHICAGO BASEBALL MUSEUM, Chicago: Conrad "Connie Kowal, 57, to executive director, from vice-president of marketing at Axiom Marketing Inc. EDUCATION CAREER EDUCATION CORP., Hoffman Estates: Robert T. "Todd DeYoung, 51, to senior ...
Best: Stepan Inc.(NEWS)(Financial report)(Brief article)
Oct 05, 2009 ... Higher detergent prices helped investors clean up with Stepan Co. in 2008. Roughly 75% of the Chicago chemical maker's revenue is generated by surfactants, which are used primarily in detergents and cleaners. Sales volume was flat for this division, but rising prices helped drive overall ...
When the obvious won't do, choosingworld's "second cities'.(NEWS)(Brief article)
Oct 05, 2009; ... Byline: Kevin Davis Vacationers tired of overcrowded, overpriced and overdone cities are heading to so-called second cities instead. "London, Paris, Rome and Madrid have been done to death, says Gary Trick, manager of Windy City Travel in Old Town, which specializes ...
Furthering growth at Gottlieb Memorial; Spotlight: Patricia Cassidy.(NEWS)
Oct 05, 2009; ... Byline: Mike Colias Job: President of Gottlieb Memorial Hospital in Melrose Park and senior vice-president of strategy at Maywood-based Loyola University Health System, which owns Gottlieb, since July 1. Vitals: 47 years old; bachelor's degree, University of Illinois ...
Tennis club serving up expansion; Parent of Midtown plans $15-million makeover of flagship.(NEWS)(TCA Holdings LLC)
Oct 05, 2009; ... Byline: H. LEE MURPHY The sport of tennis is growing again, prompting the Schwartz family to pour money into their Midtown Tennis Club chain. But this time, the focus is on more than just tennis. TCA Holdings LLC, the Chicago-based parent of Midtown Tennis, plans a ...
Union boss in fightof his life at Sun-Times; Scarred by workplace injustice, Thibeault locks horns with Tyree in do-or-die negotiation.(News)
Oct 05, 2009 ... Byline: ANN SAPHIR As a boy in New Hampshire, Thomas Thibeault watched his father's life descend into unemployment, drinking and divorce after a four-story fall at the textile mill where he worked. "Six years later, he got a settlement of $1,200, Mr. Thibeault says ....
From bad to worse: Office vacancy rises; One bright spot: Credit crunch makes big projects unlikely.(NEWS)
Oct 05, 2009; ... Byline: EDDIE BAEB A blistering year for landlords of downtown office buildings went from bad to abysmal in the third quarter, as the vacancy rate jumped to almost 15%, the highest in three years. The overall vacancy rate surged to 14.8% in the third quarter from ...
Red flags over "Green Power Express'; Local consumers wouldpick up much of tab for$12-bil. wind pipeline.(NEWS)
Oct 05, 2009; ... Byline: STEVE DANIELS A plan backed by the Obama administration that would hand Chicago-area consumers at least part of the bill for building a $12-billion wind power pipeline is hitting headwinds with local consumer advocates and Illinois' chief power buyer. The ...
Worst: USG Corp.(NEWS)(Brief article)
Oct 05, 2009 ... The near-standstill in residential and commercial construction across the country has taken its toll on USG Corp., a maker of gypsum wallboard and other building materials. As construction ground to a halt amid the recession, USG saw 2008 revenue fall 11.4% to $4.6 billion ....
METHODOLOGY.(NEWS)
Oct 05, 2009 ... This ranking encompasses firms that appeared on Crain's 2009 list of public companies for which 2008 revenue was available and a three-year stock performance figure was applicable. Compensation includes all non-executive directors who received remuneration in 2008. In the case of a tie, ...
Olympics-bid team looking for work; Two years of hobnobbing with elites should pay off in job hunt.(NEWS)
Oct 12, 2009; ... Byline: JOHN PLETZ The networking started on the plane back from Copenhagen. Their dreams of hosting the 2016 Olympics dashed, members of Chicago's bid team found themselves facing unemployment following the International Olympic Committee's selection of Rio de ...
Trapeze act swings into Block 37; Risque business on the top floor? Sephora eyes mall's street-level space.(NEWS)(Teatro ZinZanni)(Sephora Europe)
Oct 12, 2009; ... Byline: EDDIE BAEB Block 37 is close to a deal with two new tenants, one of them a dinner theater troupe that combines burlesque and R-rated acrobatics. Teatro ZinZanni, which has run for most of the decade in Seattle and San Francisco, is in advanced talks to take ...
The just-bold-enough move; Creating opportunity without going too far; an elevator job pitch.(NEWS)(Interview)
Oct 12, 2009; ... Byline: SHIA KAPOS Fresh out of college in 1976 with a fine arts degree, Maureen Schulman had big plans for herself: She set her sights on working for J. Walter Thompson, a legend in the advertising business in its day. The fact that she doubted she could snare an ...
Hospital ranking a cure for what ails care in Ill.(NEWS)(Illinois, United States)(Company rankings)
Oct 12, 2009 ... Illinois hospitals need a dose of that highly effective disinfectant called sunlight. Hospital quality plays a critical but underappreciated role in the effectiveness and affordability of health care. Hospitals that make too many mistakes produce bad results for individual ...
Chicago Public Library Foundation's Carl Sandburg Literary Awards Dinner.(NEWS)
Oct 12, 2009 ... Chicago Public Library Foundation's Carl Sandburg Literary Awards Dinner When: 6 p.m. Thursday Where: Harold Washington Library Center, 400 S. State St. How much: $1,000 and up ...
INTO THE FAST LANE; TESLA INVESTOR AND CHICAGO 2016 BACKER ANTONIO GRACIAS RAISES HIS PROFILE.(NEWS)(Valor Equity Partners L.P.)
Oct 12, 2009; ... Byline: ANN SAPHIR Antonio Gracias built his $500-million private-equity firm on the quiet, making hefty profits by turning around small manufacturers. These days, the CEO of Chicago's Valor Equity Partners L.P. is cutting a higher profile. The 38-year-old ...
It's up to Dems; HEALTH CARE REFORM IS WITHIN REACH FOR OBAMA, IF HIS PARTY CAN AGREE ON A BILL.(NEWS)
Oct 12, 2009; ... Byline: Greg Hinz After a good half-year trudging through Washington's policy swamp, Team Obama finally may have received the break it needs to actually pass a national health care reform package. I'm not talking about the Nobel Peace Prize. Last week's ...
Readers respond.(NEWS)
Oct 12, 2009 ... Here's what ChicagoBusiness.com readers had to say about "Newly vulnerable Daley needs another cause after Olympics loss (Crain's, Oct. 5). * The only thing that really matters is what (Mayor Richard M.) Daley will do going forward. I was not surprised when Mr. Daley proclaimed ...
Bank storm swirls around Massey; Former Argonne boss, big civic player on hot seat as B of A chairman.(NEWS)
Oct 12, 2009 ... Byline: STEVEN R. STRAHLER Walter Massey, an academic who moves in Chicago's most rarified civic circles, suddenly finds himself sitting in the hottest board seat in Corporate America. The Hyde Park resident, who ran Argonne National Laboratory for four years and has ...
Big gulp:slowdown at McD's; Growth ebbs as six-year "turnaround' fizzles.(NEWS)
Oct 12, 2009 ... Byline: DAVID STERRETT Sales growth is dropping sharply at McDonald's Corp., the first sustained slowdown since the burger chain staged one of the most celebrated turnarounds in corporate history seven years ago. After defying the recession for months, McDonald's ...
Illinois' Medicaid time bomb; State's tab on course to double, reform or no reform.(NEWS)
Oct 12, 2009; ... Byline: MIKE COLIAS Spending on Illinois' Medicaid program is set to explodewith or without major health care reform. As more employers drop coverage and health insurance costs outpace incomes, the state's health plan for the poor could double in size by 2019, to ...
Miller High Life signs on with "That Metal Show'; Sponsors third season of VH1 Classic's highest-rated series.(NEWS)(MTV Networks Inc. VH1)(Miller Brewing Co.)
Oct 12, 2009; ... Byline: ANDREW HAMPP Miller High Life is taking a decidedly less mass-reach approach to its latest TV marketing vehicle. The beer brand is throwing up its devil horns to sponsor VH1 Classic's "That Metal Show a sort of "Tonight Show for the AC/DC crowd. Miller will ...
On the move.(briefs)(Brewer Investment Group, LLC)(Dignitas LLC.)
Oct 12, 2009 ... EDUCATION DEPAUL UNIVERSITY, Chicago: Jeff Bethke, 42, to treasurer, from associate treasurer. Also, Mark Hawkins, 31, to controller, from assistant controller, and Cheryl Procter-Rogers, 51, to vice-president for public relations and communications, from senior consultant at A ...
ROOTING FOR RIO; For some Chicago execs, Brazil's games are bigger opportunity than Olympics here.(NEWS)(executives)
Oct 12, 2009; ... Byline: MONEE FIELDS-WHITE AND ALBY GALLUN Gary Garrabrant, a native Chicagoan who manages overseas investments for real estate mogul Sam Zell, admits to being "delighted that Rio de Janeiro beat his hometown in the contest to host the 2016 Olympics. Mr ....
Wisconsin out-gourmets Chicago-for a weekend.(NEWS)(Brief article)
Oct 12, 2009; ... Byline: H. Lee Murphy For one long weekend each October, tiny Kohler, Wis., becomes the culinary capital of the Midwest, with a growing wine and food show that's catching up with similar gourmet extravaganzas in Aspen, Colo., Monterey, Calif., and Miami. About 40 ...
Reality TV for a Walgreen.(NEWS)
Oct 12, 2009; ... Byline: Shia Kapos An heir to the Walgreen drugstore fortune is among 30 Chicago bachelors being filmed around town for a reality-television matchmaking show that will pair American businessmen with women in Russia. Emmy-winning TV producer and Chicagoan Amy Williams ...
Getting Euro RSCG clients "to the future first'; Spotlight: Ron Bess.(NEWS)
Oct 12, 2009 ... Byline: David Sterrett Job: President of North America and CEO of Chicago for New York-based Euro RSCG Worldwide, since July. Vitals: 61 years old; bachelor's degree in marketing, University of Illinois at Urbana-Champaign, 1969; master's degree in advertising, UIUC, ...
Making it through.(Brief article)
Oct 12, 2009 ... In this severe downturn, small-business owners are hunkering down and working harder than ever. So what do you need to do to survive until the ...
TAP YOUR GREATEST RESOURCE.(Brief article)
Oct 12, 2009 ... Small-business consultant John Mautner's Chicago-based Cycle of Success Institute offers simple advice: Listen to employees. He recommends brainstorming with small groups of staffers. Workers often have the best ideas on how to save money and make a company ...
Don't be emotional about layoffs . . .
Oct 12, 2009 ... Cut unproductive workers, even if they are family members. "You have to think about what will help your business survive, says Larry Adelman, co-founder and principal of AEG Partners, a restructuring and turnaround consultancy in Chicago. ....
Change it up.(Brief article)
Oct 12, 2009 ... A restaurant, for example, may need to change its menu or offer delivery. "It's a matter of thinking new, says Mona Pearl, founder of Chicago consultancy ...
Reinvent and rejuvenate.(Brief article)
Oct 12, 2009 ... Now is not the time for business as usual. Look for ways to be more competitive in the long run. That can mean developing new products, rethinking marketing or streamlining operations. "You have to diversify and put more ...
Sell yourself.(Alternative Board of Northwest Cook County)(Brief article)
Oct 12, 2009 ... You don't have to invest in four-color brochures, but marketing is a must. "Your message will get through easier if your competitor stops marketing, says Mike Petrushka, head of the ...
Study the competition.
Oct 12, 2009 ... Mr. Mautner recommends finding similar businesses that "are doing things better, faster or cheaper. Research your rivals on the Internet and by joining trade ...
Watch your cash . . . but still spend, wisely.(Brief article)
Oct 12, 2009 ... Keep a 90- to 180-day cash-flow projection and update it once a month. Being organized could mean the difference between securing a line of credit and closing shop, Mr. Petrushka says. The grim economic forecast can tempt you to slash costs aggressively, but Thomas Long, founder ...
WATCH OUT FOR THESE RED FLAGS.(Brief article)
Oct 12, 2009 ... Entrepreneurs can get so caught up in the day-to-day details that they overlook signs that their businesses are heading toward disaster. 1. You have less money in the bank than you did last month or last year. Cash is king. You make payroll and pay bills with cash. If ...
YOU DON'T HAVE TO GO IT ALONE.
Oct 12, 2009 ... The Alternative Board * Offers peer-to-peer advice and programs for entrepreneurs and small-business owners. (877) 822-8090, ext. 704 www.TABChicago.com Women's Business Development Center * Offers business coaching, workshops and ...
In bad times, fraud pays-for accountants.(NEWS)
Oct 19, 2009 ... With recession comes increased incidences of fraud, and that means more work for forensic accountants. According to Accounting Today, nearly 40% of the top 100 accounting firms in the U.S. are expanding forensicsrelated services. Given the amount of money U.S. organizations lose ...
THE NEXT BIG BIOFUEL BET; Caterpillar's ex-chief Barton, partners see money in oil of ubiquitous pennycress plant.(NEWS)
Oct 19, 2009 ... Byline: PAUL MERRION Stinkweed smells sweet to former Caterpillar Inc. CEO Glen Barton. Mr. Barton is chairman and one of several Peoria-area investors in a local startup, Biofuel Manufacturers of Illinois LLC, which plans to build a $40-million factory near Peoria ...