Chicago Business News for November 12, 2012

Despite Clare at Water Tower bankruptcy, Franciscans try to sell bonds

The Streeterville project was “a specific problem deal” prompted by the real estate collapse and does not mean the group automatically will have a hard time obtaining the financing, one expert says.

Watch the video

Nate Silver on life as a political pinata and pop-culture meme

Throughout a bruising 2012 election cycle, the popularity of his FiveThirtyEight.com blog soared and an unlikely star was born. Crain's catches up with a onetime "40 Under 40" pick.

Strategic Hotels extends shareholder rights plan

(AP) — Strategic Hotels & Resorts Inc. said Monday that it extended its existing shareholder rights plan by a year to protect the company from unwanted takeover attempts.

Entrepreneurs in Action

Sisters turn layoffs into startup

Pamela and Agape Redwood heard about people losing their jobs during the Great Recession. They just didn't expect to be among them.

Updated 10:50 a.m.

Advanced Equities closing key unit: report

Word that the Chicago-based investment advisory firm is closing its broker-dealer operations follows news the firm settled SEC charges.

Community buyer emerges for mortgages from failed Second Federal Savings

It's good news for borrowers, many of whom are undocumented immigrants who worried that a profit-motivated buyer would foreclose on them.

Groupon Goods offers free shipping for holidays

(AP) — Groupon said Monday that it will offer free shipping and returns for items bought through Groupon Goods for the holidays.

Twinkies maker Hostess closing 3 bakeries following strike

(AP) — Hostess Brands Inc. is permanently closing three bakeries — though not its Twinkies factory in Schiller Park — following a nationwide strike by its bakers union.

Analyst lowers Caterpillar rating, price target

(AP) — J.P. Morgan cut its rating and price target for Caterpillar on Monday as mining companies try to put a cap on capital expenditures.

Peruvian Connection coming to changing Lincoln Park retail stretch

The women's clothing seller plans to open before Christmas on Armitage Avenue.

Shopping center Burbank Station sells for $34 million

Chicago-based real estate investor Abbell Associates teamed with a Connecticut fund manager to buy the property, which sold for more than 25 percent less than its 2007 price.

In brief

Syndicated buys Lincolnwood retail buildings for $5.9 million

Also, restaurateur Michael Bisbee plans a West Loop eatery and 42 unsold units at a Forest Park development are back on the market.

United to repay $5.6 million in incentives to Chicago

(AP) — The mayor says United Airlines will repay $5.6 million in tax incentives the company received from Chicago to redevelop its downtown headquarters.

Record downtown apartment rents reflect shortage

But increases for Class A buildings are likely to subside next year, when nearly 2,700 new units are completed, with another 2,000 on tap for 2014.

Abbott releases Humira data for back disease

(AP) — Abbott Laboratories reported Monday that its blockbuster drug Humira showed positive results in treating symptoms of an inflammatory joint disease that causes back pain.

Morning 10: Who's next for stardom? | Griffin's ETrade moves | Cutler concussion

Wondering which Chicago tech companies might be the next big acquisition target or IPO darling? Crain's follows the VCs to learn how they determine where to put their money. Read more here.

Johnson Publishing opens up historic photo archive

The publisher of Ebony and Jet is making part of its photo archive available for public purchase for the first time since it started chronicling the African-American experience seven decades ago.

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