(Bloomberg) — Even after spinning off Lands’ End, Sears Holdings Corp.’s Eddie Lampert remains vulnerable on dual fronts: a struggling retail business in need of a new strategy and a hedge fund whose investors have begun pulling their money.
(AP) — Morgan Stanley analyst Matthew Grainger on Monday upgraded his rating on Kraft Foods Group Inc., saying there is still a good long-term growth story ahead for the food company.
(Bloomberg) — The Rosemont-based firm is being bought by Sysco Corp. in the largest food-distribution deal in eight years in North America.
(Bloomberg) — The world's largest restaurant chain said sales at stores open at least 13 months rose 0.5 percent last month, trailing analysts' estimates as rivals lured diners amid a choppy U.S. economic recovery.
(AP) — Students at every public high school in Chicago will have the chance to take computer science courses under a plan the city is announcing.
(AP) — Senator Mark Kirk has had his gallbladder removed.
Carrie Underwood may have delivered the big ratings for NBC Thursday night, but it was Northbrook-based DiGiorno pizza that stole the marketing show with a barrage of tweets during the live broadcast of "The Sound of Music."
The delinquency rate on Chicago-area CMBS loans fell to 6.43 percent in November, its lowest level in more than three years.
A Dublin-based firm formed by Garrett Kelleher that provided financing to the failed skyscraper, is an unsecured creditor in the project's bankruptcy, which covers total debts of nearly $294 million.
(AP) — The captain of an oil platform supply boat in the Gulf of Mexico is no stranger to bumps and other movement while he sleeps. So when Tom Wagner nodded off on a flight from Louisiana to Houston, it was no surprise that the landing bounce didn't wake him.
The Northwest Side training academy, which filed for bankruptcy in 2010 after its building was hit with a foreclosure suit, forestalled eviction by filing for Chapter 11 protection again.
Its new Chicago office will be called the Lucien Lagrange Studio of Lessard Design.
Turtle Wax Inc.'s top management is in flux again, with the latest CEO exiting last fall after less than a year on the job and the company so far leaving the job unfilled.
The owner of the observatory in the John Hancock Center is planning a tourist experience called the Tilt to rival the Ledge at Willis Tower, sources tell Crain's. The enclosed glass box protruding from the 94th-floor observatory would tilt once visitors are strapped in.
Northwestern University has picked Perkins & Will to design a new biomedical research center on the former site of Prentice Women's Hospital in Streeterville.
A city landmarks committee voted to allow the Langham Hotel to install bronze statues of 11 businessmen in the plaza outside the Mies van der Rohe-designed tower at 330 N. Wabash Ave.
The union representing tenured and non-tenure-track faculty said the majority of its members support going on strike.
(AP) — Fancy a pint of Pliny the Elder or Heady Topper double India pale ales, but can't find it in your neighborhood? Get out your wallet.
Way to go, the Wall Street credit rating agency said while leaving the state's credit rating unchanged.
The Illinois Teachers' Retirement System this week selected Chicago-based investment management firm Grosvenor Capital Management LP to oversee the pension's fund of hedge fund investments.
Texas-based private-equity firm TPG Capital sold a fully leased, 48,991-square-foot building in the Prairie Glen Corporate Campus to a venture of Cole Real Estate Investments.
Tornadoes and thunderstorms that swept across the U.S. Midwest last month will probably cost more than $1 billion in economic losses, led by damage in Illinois and Indiana, according to insurance broker Aon Plc.
WPP wants United Continental Holdings to be the next client for which it creates a dedicated agency, including media buying and planning, digital elements and direct marketing, according to multiple executives familiar with the matter.
(AP) — Illinois took a giant step toward fixing its biggest financial problem with pension reform. but legislators' inaction on tax incentives aimed at keeping companies and creating new jobs has triggered fresh concerns about the state's business climate.
(Bloomberg) — U.S. stocks advanced, halting a five- day slide for the Standard & Poor’s 500 Index, as investors weighed better-than-forecast jobs growth to gauge the strength of the economy and timing of Federal Reserve stimulus cuts.
Server Farm Realty bought the buildings at 800 and 810 Jorie Blvd. from a loan servicer that took back the property from Prime Group Realty Trust in 2009.
Also, the owner of Mercedes-Benz of Orland Park takes out a new loan, and the Five Below retail chain plans a new North Side store.
(AP) — The consulate general of South Africa in Chicago is making a condolence book available after the death of Nelson Mandela.
Also, Newmark scores a Downers Grove office leasing job, and Community Investment Corp. finances more apartments.
Kenneth Leet, a former Goldman Sachs investment banker tapped earlier this year by Tom Pritzker (above), exits the president post, though he may still serve in an advisory role.
(AP) — A U.S. Coast Guard ship loaded with more than 1,200 Michigan Christmas trees has arrived in downtown Chicago.
(AP) — The head of Illinois' largest charter school operator is stepping down, following concerns of nepotism and conflicts of interest.
A Cook County judge finds no wrongdoing in how the company was taken private in 2009.
(AP) — Sears Holdings Corp. said Friday that it will spin off its Lands' End clothing business as a separate company by distributing stock to the retailer's shareholders.
The Mayor and World Business Chicago are launching a group aimed at reclaiming the city's place as a national transportation hub.
News of a River North hotel and a West Loop apartment project top our list of the most-popular stories of the week.
Mall owner Five Mile Capital Partners landed an equity investment from Northbrook's StreetMac Asset Managers and a $33 million loan from RBS Citizens.
(Bloomberg) — CME Group is in the final stages of talks with the Bank of England to start a new European exchange and is confident it will be allowed to offer currency futures.
A fourth straight month of solid hiring cut the national unemployment rate to 7 percent in November, an encouraging sign for the economy. The Associated Press has the breaking news.
Stern Pinball, the last remaining major manufacturer of old-school pinball games, is partnering with Ford Motor Co. to make a pinball machine in celebration of the Mustang's 50th anniversary.
Eric Isaacs, director of Argonne National Laboratory, will become the University of Chicago's chief academic officer starting next year.
(Slightly) offbeat and off-the-beaten path ideas for your off days
The Chicago architect is expected to make his case to city landmarks officials, who in September rejected a plan by his client, the Langham Hotel, to install statues on the plaza outside the former IBM Building.
TV production executive Peter Walker prepares to list a four-bedroom Frank Lloyd Wright home in River Forest for $2.4 million. Built in 1893 on a private street, the home was Mr. Wright's first independent commission after leaving Adler & Sullivan.
(AP) — Gov. Pat Quinn has signed landmark legislation Thursday to reform Illinois' massively-underfunded pension system, though the new law is certain to face threatened lawsuits by labor unions.
Medical costs are rising so rapidly that Health Care Service Corp. is capping its contribution to retiree health benefits, even as its annual net income for 2013 approaches $1 billion.
Ross Glickman, who was terminated last month, sues to get his job back, accusing investor RAIT Financial Trust of undermining him and trying to squeeze him out.
(AP) — Fast-food workers and labor organizers are turning out in support of higher wages in Chicago and dozens of other cities across the country today.
Christopher Fiegen used to fly to the ends of the earth searching for investment opportunities for Sam Zell's overseas real estate business. Now he's sticking closer to home as head of a homebuilding finance startup.
The chief financial officer of QST Industries Inc., says it's paid off to have the company shell out $375 a month per employee for gym memberships and small-group training.
(AP) — The former owner and CEO of a Chicago factory where employees staged a high-profile sit-in in 2008 has been sentenced to four years in prison for stealing millions from his failing company.
When it comes to foreclosures involving homes worth $1 million or more, the Chicago area ranks fourth among major metropolitan areas, according to RealtyTrac.
Also, a Glencoe home has sold for close to its asking price, and founding member of the Isley Brothers was the buyer of R. Kelly's foreclosed mansion.
(AP) — The Chicago Transit Authority is planning fixes to a portion of the agency's rail lines that could cut 10 minutes off the time to travel between O'Hare Airport and the city's downtown.
MillerCoors might be trying to make hay today out of the 80th anniversary of the repeal of Prohibition. But in December 1933, few booze and beer marketers were launching ads.
The asset manager says Nick Calamos, above right, who exited his post as co-chief investment officer last year, is leaving the board and selling his stake in the parent company.
(AP) — The rate was the fastest since early 2012. But nearly half the growth came from a buildup in business stockpiles, a trend that could reverse in the current quarter and hold back further gains.
Nick Calamos, who exited his post as co-chief investment officer of Calamos Asset Management last year, is leaving the Naperville firm's board and selling his stake in the parent company. Crain's has more on what it means to the family business.
(AP) — Gov. Pat Quinn stopped accepting his own paychecks this summer when he tried to halt legislators' salaries over pension crisis inaction.
(Bloomberg) — General Growth Properties Inc., the second-biggest U.S. mall owner, will replace Molex Inc. in the Standard & Poor's 500 Index, S&P Dow Jones Indices said in a statement today.