News

Swine flu prep. (11/20/09)

Fri, 20 Nov 2009 10:01:43 -0800

Companies already at low staffing levels because of the recession are facing a potential crisis this winter: absenteeism from the H1N1 virus, known as Swine Flu. We take a look at how some Chicago-area companies are preparing for an outbreak.

Nightmare on State St. (11/19/09)

Thu, 19 Nov 2009 09:34:44 -0800

Joseph Freed & Associates is facing a foreclosure lawsuit over Block 37 but the developer has another big problem on State Street. The former Carson Pirie Scott building, now called the Sullivan Center, has yet to attract the retail tenants it hoped

Convention crisis (11/18/09)

Wed, 18 Nov 2009 09:56:25 -0800

Chicago loses its second big convention in a week to a competing city. Exhibitors are complaining about labor union rules and high costs. So what are city officials going to do to keep business coming to McCormick Place?

Local bankruptcies surge (11/17/09)

Tue, 17 Nov 2009 10:16:06 -0800

Big corporate failures are slowing nationwide, but here in Chicago, the bankruptcy courts are busier than they've been in years.

Moto's Droid debut (11/16/09)

Mon, 16 Nov 2009 10:35:13 -0800

Motorola's new smart phone, the Droid, could give the iPhone a run for its money this holiday season. But it may take more than just one phone for the company to turn a profit in its cell phone business and complete a long-planned spinoff.

Sweet enough? (11/13/09)

Fri, 13 Nov 2009 08:16:51 -0800

Kraft this week took its $17 billion offer for Cadbury directly to shareholders. The bid was immediately rejected. Lisa talks with Crain's reporter David Sterrett about the potential for rival suitors.

City ranks low in job growth (11/12/09)

Fri, 13 Nov 2009 08:30:02 -0800

A new annual report by the Milken Institute shows that Chicago's ranking slipped among the nation's best-performing cities. An economist for the research firm called the city's growth 'stagnant'. Find out how Chicago stacks up against other major met

Doc's Rx: Treat the poor (11/11/09)

Wed, 11 Nov 2009 11:15:56 -0800

The health-care reform debate is raising questions about whether extending Medicaid to millions of uninsured will strain already-burdened local emergency rooms. Meet one doctor who is already providing the kind of specialty care that few others will.

Gatorade game-changer (11/10/09)

Tue, 10 Nov 2009 10:25:16 -0800

Gatorade's strategy to go after soft-drink buyers was swallowed by the recession. So the Chicago-based brand is refocusing on its core customer. Crain's has learned about a soon-to-be-launched line of products aimed at athletes.

Midway's moment (11/09/09)

Wed, 11 Nov 2009 10:55:15 -0800

Midway Airport's passenger traffic jumped in September for the first time in more than a year while O'Hare is still suffering. Chicago's smaller airport is getting a boost from business travelers, now that Southwest has expanded.

New Mag Mile Mix (11/06/09)

Fri, 06 Nov 2009 10:34:53 -0800

At the same time high-end designers like Michael Kors are opening new boutiques on the Midwest's most famous shopping street, so are lower-end stores like Victoria's Secret and Best Buy. Lisa talks with Crain's reporter Shia Kapos about the Mag Mile.

Warehouse woes (11/05/09)

Thu, 05 Nov 2009 08:59:09 -0800

No other major city has as much empty warehouse and factory space as Chicago. The industrial vacancy rate stands at its highest level in almost two decades. Lisa explains why.

New-home sales boost (11/04/09)

Wed, 04 Nov 2009 10:23:44 -0800

The latest numbers show new-home sales in Chicago rose for a third straight quarter. But it's still shaping up to be the worst year for homebuilders since World War II.

Broken banks (11/03/09)

Wed, 04 Nov 2009 09:37:19 -0800

Lisa sits down with Crain's senior reporter Steve Daniels to talk about what happened at FBOP, which local banks are the most troubled and the latest headlines at ShoreBank and PrivateBank.

Dorms for the dead (11/02/09)

Wed, 04 Nov 2009 08:23:49 -0800

A plans calls for the Three Arts Club building in the Gold Coast to become a columbarium, a vault for cremated remains. And this may be a way to keep the landmark in use during a real-estate recession, but will the neighbors like it.

Cubs' new owner (10/30/09)

Wed, 04 Nov 2009 09:52:01 -0800

The Ricketts Family this week closed its deal to buy the Chicago Cubs. Crain's sat down with Tom Ricketts to talk about the future of the team and Wrigley Field.

Binny's growth cocktail (10/29/09)

Wed, 04 Nov 2009 09:52:56 -0800

With its buyout of Sam's Wines & Spirits in the can, Binny's Beverage Depot isn't slowing down. The company is eyeing more locations in the Chicago area, throughout Illinois and maybe even across the country.

New home sales (10/28/09)

Wed, 04 Nov 2009 09:54:20 -0800

A new report shows sales of new homes nationwide last month unexpectedly dropped. Lisa takes the pulse of the local market and explains why this report contradicts recent evidence the housing market is improving.

New Taurus in demand (10/27/09)

Wed, 04 Nov 2009 09:55:17 -0800

The bigger, flashier and more expensive Ford Taurus has hit the market with a bang. Dealers can't keep them on the lot and since they are in high demand, production at the South Side plants has increased to two shifts per day.

iStop? (10/26/09)

Wed, 04 Nov 2009 09:56:35 -0800

The CTA and Apple cut a deal on potential naming rights and advertising at the North and Clybourn el station that involves the company spending $4 million to spruce up the subway stop.

Block 37's future (10/23/09)

Wed, 04 Nov 2009 09:56:49 -0800

With Bank of America this week filing a foreclosure lawsuit against Block 37's developer, the future of this beleaguered project is once again in question. Lisa sits down with senior real estate reporter Tom Corfman to talk about the latest snag.

Hired at home (10/22/09)

Wed, 04 Nov 2009 09:57:54 -0800

While many small, family-owned businesses are shutting their doors during this recession, some survive with a little help from their kids. The economic downturn is forcing a younger generation to give up on dream jobs and join the family biz.

Distressed real estate (10/21/09)

Wed, 04 Nov 2009 09:58:07 -0800

The amount of distressed real estate nationwide has ballooned from a year ago. The Chicago area has more than $4 billion worth of properties whose loans have gone bad, have a bankrupt owner or are facing foreclosure.

Charity care (10/20/09)

Wed, 04 Nov 2009 10:08:33 -0800

Illinois is at the center of a debate over charity care. A Crain's analysis shows that local for-profit hospitals provide as much, if not more, care than their non-profit counterparts that enjoy tax breaks.

CME mulls CBOE takeover (10/19/09)

Mon, 19 Oct 2009 00:00:00 -0700

Sources tell Crain's that CME Group is informally talking to its neighbor, the Chicago Board Options Exchange, about a possible takeover. A deal could be valued at $5 billion and would raise Chicago's profile in the world of trading and finance.

Crate & Barrel's new Turf (10/16/09)

Wed, 04 Nov 2009 10:09:18 -0800

Lisa talks with Crain's Senior Reporter Monee Fields-White about Crate & Barrel's expansion plans under Chief Executive Barbara Turf, what the retail chain is doing during the recession and the outlook for the holiday shopping season.

Record home foreclosures (10/15/09)

Wed, 04 Nov 2009 09:46:51 -0800

Home foreclosures nationwide jumped in the third quarter to a record. Illinois is still among the top 10 states for loan defaults. And don't blame it all on sub-prime lenders. New evidence shows that pricey homes are fueling the latest wave of delinq

Rooting for Rio (10/14/09)

Wed, 04 Nov 2009 10:10:39 -0800

Many Chicago companies were counting on a boost in business if the 2016 Olympics came here. But there at least a few local firms who are cheering the choice of Brazil.

Block 37 breakthrough? (10/13/09)

Wed, 04 Nov 2009 10:10:58 -0800

Block 37 is close to signing deals with two major new tenants after some high-profile ones pulled out of their leases. The mall is set to finally begin a phased opening next month. Lisa tells you where things stand with this struggling development.

McDonald's slowdown (10/12/09)

Wed, 04 Nov 2009 09:38:12 -0800

After years of robust growth, the fast-food giant is slowing down. Monthly sales increases over the past couple of months have been cut in half. In addition, sales of premium products are lackluster, and growth in China is sluggish.

Sun-Times sale (10/9/09)

Wed, 04 Nov 2009 09:38:42 -0800

After some initial doubts a deal would get done, a U.S. bankruptcy court judge approved the sale of the Sun-Times Media Group to an investment group led by businessman James Tyree.

Liquidation lift (10/08/09)

Wed, 04 Nov 2009 09:43:20 -0800

While retailers struggle with dismal sales and excess merchandise, one arm of the industry is all too happy to purchase the unsold goods: Liquidators. We talk to one that's having its best year and ask whether the good times will continue.

Easy condo credit (10/07/09)

Wed, 04 Nov 2009 09:39:34 -0800

New-construction condo loans can be more difficult to come by these days. But at least one Chicago bank is changing the game, and offering ultra-low interest rates and just 5 percent down. Find out which bank and why it's more willing to take a risk.

Food fight (10/06/09)

Wed, 04 Nov 2009 10:15:40 -0800

The grocery turf wars are heating up in the city. Discounter Aldi is set to unseat Jewel as the chain with the most stories in town. And the timing couldn't be worse: Jewel is already facing a threat from Wal-Mart.

Crushed in Copenhagen (10/05/09)

Wed, 04 Nov 2009 10:15:55 -0800

Chicago did not bring home the gold, silver or bronze from Copenhagen. So where do Mayor Richard Daley and the city go from here? Lisa talks with former World Business Chicago head Paul O'Connor about the consequences.

Olympic decision day (10/02/09)

Wed, 04 Nov 2009 09:40:27 -0800

Crain's Greg Hinz is in Copenhagen and gets a rundown on the last-minute lobbying efforts from a key Chicago 2016 official. And Lisa tells you what to expect hours from now when Chicagoans learn whether they will host the 2016 Olympic Games.

Handicapping the 2016 vote (10/01/09)

Thu, 01 Oct 2009 00:00:00 -0700

Less than 24 hours from now, Chicago will know whether it will be chosen to host the 2016 Olympic Games. The last-minute lobbying is still underway in Copenhagen. Lisa talks with sports business consultant Marc Ganis about Chicago's chances.

Vacancy rate hits 3-year high (09/30/09)

Wed, 04 Nov 2009 09:42:47 -0800

The downtown office market continues to suffer. The overall vacancy rate jumped to almost 15%.Rents are dropping and landlords are making more concessions. Will the market get worse before it gets better?

Walgreen wows Wall Street (09/29/09)

Wed, 04 Nov 2009 09:43:07 -0800

Investors are cheering Walgreen's better-than-expected quarterly profit report. The Deerfield-based drugstore chain benefitting from strong prescription drug sales despite a weak retail scene. We'll tell you about the company's plans for growth.

Parking-meter controversy (9/28/09)

Wed, 04 Nov 2009 10:24:49 -0800

Mayor Richard Daley already is facing criticism for his $1.16 billion deal to privatize the city's parking meters. And as Crain's reports this week, there's another controversy brewing over the meters. When a meter is removed because of construction,

Chicago's health-care costs (9/25/09)

Fri, 25 Sep 2009 15:57:35 -0700

In next week's print edition, Crain's examines how Chicago's health-care costs stack up against the rest of the nation. What we found: the city's doctors and hospitals are racking up bigger bills than much of the rest of the country.

Home sales (9/24/09)

Wed, 04 Nov 2009 10:25:06 -0800

Existing home sales unexpectedly fell last month nationwide, according to the latest reading from the National Association of Realtors. But here in Chicago, sales rose for a second straight month. We take a look at the local market's recent upswing.

Commercial real estate values (9/23/09)

Wed, 04 Nov 2009 10:24:25 -0800

A recent report shows Chicago commercial real -estate values are poised to fall even more and may stay at recessionary lows for at least another couple of years. We'll tell you which sectors are expected to fare the best - and the worst. And we ask t

Enterprising women in food (9/22/09)

Wed, 04 Nov 2009 10:25:27 -0800

Women are making big strides in every field of entrepreneurship, but the food business is proving to be a big draw. We talk to some of them about how they got their start, and where they hope to go from here.

Southwest battles for Denver (9/21/09)

Wed, 04 Nov 2009 10:23:58 -0800

Southwest and United stay in their respective corners in Chicago: United leads O'Hare, Southwest dominates Midway. But in Denver, the battle for air supremacy is raging, in the form of a price war.

Moto's new Cliq (9/18/09)

Fri, 18 Sep 2009 00:00:00 -0700

Motorola has unveiled the Cliq, the first of a slick, new line of smartphones equipped with Google's Android operating system. Wall Street likes the new phone, as the stock got a bump this week. But will it be enough to start a company turnaround?

Struggle at the Sun-Times (09/17/09)

Thu, 17 Sep 2009 10:24:16 -0700

Jim Tyree's bid to save the Sun-Times is under siege. Union workers at the paper and its suburban sister papers voted against pay cuts and work-rule concessions required under the $25-million deal on the table.

Hotel heartbreak (09/16/09)

Wed, 16 Sep 2009 08:39:37 -0700

Cheap rooms might be great for tourists, but they're wreaking havoc on downtown hotels. The loss of business and leisure travelers, plus conventioneers, has pushed down occupancies 64% this year. We investigate how long until the industry recovers

Trotter Inc. (09/15/09)

Wed, 04 Nov 2009 10:26:49 -0800

Sales dropped at his world-famous restaurant for the first time in 22 years. But thanks to a host of other ventures, Trotter's business is still profitable and even growing. We talk to the celebrity chef at his Lincoln Park restaurant.

Gas bill break (09/14/09)

Mon, 14 Sep 2009 11:26:18 -0700

Chicago homeowners could end up with some extra cash this winter. Heating bills are expected to be down 30%, thanks to the lowest natural gas prices in eight years.But city residents may still end up paying more than those who live in the suburbs.

Kraft's bid for Cadbury (09/11/09)

Wed, 04 Nov 2009 12:03:16 -0800

This week, Kraft's $16 billion-dollar bid for Cadbury was immediately rejected. And a bidding war for the candy company could break out, a scenario Kraft investors dread based on this week's selloff in the stock.

Riding foreclosure wave (09/10/09)

Thu, 10 Sep 2009 10:23:01 -0700

Heart Financial is cashing in on the foreclosure crisis. The two-year-old company is expected to bring in $20 million this year helping struggling borrowers keep their homes. And in a true sign of the times, the 60,000 square feet of office space Hea

Sun-Times savior (09/09/09)

Wed, 09 Sep 2009 00:00:00 -0700

Mesirow Financial James Tyree makes it official, offering $5 million for the Sun-Times and its suburban newspapers, plus the assumption of $20 million in debt. The question now is how will he turn around the tabloid.

Big-screen battle (09/08/09)

Tue, 08 Sep 2009 00:00:00 -0700

You may know Redbox from the red vending machines offering DVDs for a dollar. What you may not know is that Redbox is in the middle of a big fight with Hollywood over the availability of new releases. We'll tell you what it's all about.

Hotels vs. Union workers (09/04/09)

Wed, 04 Nov 2009 10:27:56 -0800

A battle is brewing between Chicago's downtown hotels and union workers. Talks have begun on a new pact but both sides are reportedly still far apart on the big issues. We talk about what's at stake.

Home appraisals (09/03/09)

Thu, 03 Sep 2009 00:00:00 -0700

Fannie and Freddie adopted a new code of conduct for appraisers to prevent them from feeling pressure from real-estate professionals to inflate home values to allow a sale to proceed. But the effects could be forestalling a housing market recovery.

IOC 2016 Evaluation Report (09/02/09)

Wed, 02 Sep 2009 00:00:00 -0700

In exactly one month, Chicago will learn whether it will host the 2016 Olympic Games. The International Olympic Committee Wednesday released a report evaluating the bids of Chicago, Madrid, Rio de Janeiro and Tokyo.

Holding out for higher pay (09/01/09)

Wed, 04 Nov 2009 10:31:48 -0800

The jobless rate may be at its highest level in decades. But that doesn't mean all unemployed workers are willing to take a big pay cut for a new position. We'll tell you the results of a new survey.

Small-biz loan spike (08/31/09)

Mon, 31 Aug 2009 00:00:00 -0700

The federal stimulus package is giving a jolt to local Small Business Administration lending. Small businesses have saved millions of dollars in waived borrowing fees and banks are more willing to take risks since the SBA loan guarantees are bigger.

Cubs future under Ricketts (08/28/09)

Fri, 28 Aug 2009 00:00:00 -0700

Nearly two years in the making, the Cubs sale is finally coming to a close. But after a disappointing season, what lies ahead for the Cubs under the ownership of the Ricketts family?

Old Post Office auction (08/27/09)

Thu, 27 Aug 2009 00:00:00 -0700

It's one of the biggest real estate auctions in history. The Old Main Post Office goes on the block today and will be sold no matter what the price. The questions are: Who will buy it and what can they do with it in the current real estate market?

Rental rebound (8/26/09)

Wed, 26 Aug 2009 00:00:00 -0700

The apartment market typically takes a hit during recessions as it tracks the labor market. But rents and occupancy rates for downtown apartment buildings rose for a second straight quarter. We'll tell you why apartment buildings are bucking the down

Recession hits houses of worship (8/25/09)

Mon, 09 Nov 2009 10:00:44 -0800

Churches and synagogues typically weather economic downturns better than other non-profit groups. But this recession is showing no mercy to them. Offerings are down at a time when demand for social services and scholarships are up.

Olympic Dreams Inflated? (8/24/08)

Mon, 24 Aug 2009 00:00:00 -0700

Mayor Richard Daley says the 2016 games would bring $22.5 billion to the local economy. But experts disagree, calling that number "crazy." We'll tell you why, and what they say is a more realistic estimate.

Bankers’ brawl (8/21/09)

Wed, 04 Nov 2009 14:33:05 -0800

Three Chicago bankers are competing for the title of the city’s dominant hometown business lender. Crain’s Senior Reporter Steve Daniels talks about the contenders, and about why Chicago needs a big-time hometown bank.

Entrepreneurs under siege (08/20/09)

Thu, 20 Aug 2009 00:00:00 -0700

According to a recent study, Chicago entrepreneurs are choking on red tape. From hanging a sign, to obtaining a license, entrepreneurs jump through many hoops. We talk to the owner of one children's play center who had to fight to open.

Home sales jump downtown (08/19/09)

Wed, 19 Aug 2009 00:00:00 -0700

The downtown real-estate market is showing signs of life. But developers had to heavily discount to get that deal closed. We talk to an expert about whether the up-trend can continue, and how long it will take to work through the glut downtown.

Golf biz in the bunker (08/18/09)

Tue, 18 Aug 2009 00:00:00 -0700

Struck with a stormy start to summer and a down economy, local golf courses have been struggling to keep golfers playing. We talk to both a public and private course to learn how they're coping with the downswing in business.

Recovery requirements (08/17/09)

Mon, 17 Aug 2009 00:00:00 -0700

Most economists agree the recession might have ended in June, but they also concede that the road to recovery will be rocky. We talk to an economist about what it will take for the economy to recover, and how long until it does.

Comparing Chicago's food companies (08/14/09)

Fri, 14 Aug 2009 00:00:00 -0700

Sara Lee this week posted weaker-than-expected. The stock took a hit, and it trailing Kraft and other food companies this year. Lisa Leiter sits down with Crain's consumer products reporter David Sterrett .

Rush CEO on health care reform (08/13/09)

Thu, 13 Aug 2009 00:00:00 -0700

Congress may be home for summer break but the health-care reform debate is heating up across America. Lisa Leiter sits down with Rush University Medical Center President & Chief Executive Larry Goodman to get his take on this hot-button issue.

Hopeful Signs in Local Housing Market (08/12/09)

Wed, 12 Aug 2009 00:00:00 -0700

Two new reports this week indicate that the housing market may have finally hit bottom. Sales of previously-owned homes jumped between April and June when compared to the first three months of the year. Median prices are up, too. And a fresh reading

Condo-hotel business checked out (08/11/09)

Tue, 11 Aug 2009 00:00:00 -0700

An idea born during the real-estate boom has gone bust in Chicago. Of the 12 planned condo-hotels in the city, only three have gotten off the ground. Find out what Donald Trump has to say about it.

MillerCoors' Kiely in big beer battle (08/10/09)

Mon, 10 Aug 2009 00:00:00 -0700

MillerCoors chief executive Leo Kiely is gearing up for the game of his life: taking on Anheuser Busch. While the battle is between the light beers, Kiely has big plans for Blue Moon. Lisa talks with Kiely about what's in store for MillerCoors.

What price Hyatt IPO? (08/07/09)

Fri, 07 Aug 2009 00:00:00 -0700

Hyatt Hotels this week announced that it would go public again after operating as a private company for 27 years. It plans to sell up to $1.15 billion of stock, in what could be the largest IPO so far this year.

City's last independent ad man (08/06/09)

Thu, 06 Aug 2009 00:00:00 -0700

You've seen commercials for Corona and CareerBuilder, now meet the man behind them. Peter Krivkovich is the chief executive of Chicago-based Cramer-Krasselt. Find out what Krivkovich is planning next and if the agency can survive without him.

Demand dead for downtown office space (08/05/09)

Wed, 05 Aug 2009 00:00:00 -0700

The downtown office vacancy rate shot up in the second quarter and may not peak for another 5 years, according to one industry veteran. Every submarket is suffering. We'll tell you why, and what landlords are doing about it.

Hubbub at Historic Blackstone Hotel (08/04/09)

Tue, 04 Aug 2009 00:00:00 -0700

Labor tensions are flaring at Michigan Avenue's Blackstone Hotel. Unite Here claims management illegally tried to kick it out. Sage Hospitality, the hotel's owner, says it is making progress in talks with the union. We have the story.

Wasson's plan for Walgreen (08/03/09)

Mon, 03 Aug 2009 00:00:00 -0700

It's not all about expansion anymore for Walgreen. The drugstore giant is trying to revive profits by squeezing more sales out of existing stores. Lisa talks with retail analyst Neil Stern about the company's strategy and its chances for success.

C.A.R.S. hits brakes (07/31/09)

Fri, 31 Jul 2009 00:00:00 -0700

Big response to Cash for Clunkers puts the brakes on the program. Huge increase in runners for the inaugural Chicago Rock n'Roll Half Marathon. Southwest's bid for Frontier Airlines could mean good news for Boeing, but bad news for United.

Local foreclosures climb (07/30/09)

Thu, 30 Jul 2009 00:00:00 -0700

Illinois foreclosures climbing along with the unemployment rate. The office vacancy rate could hit 20% by 2011, according to Jones Lang LaSalle. Motorola is betting its future on new smartphones.

Wal-Mart rally (07/29/09)

Wed, 29 Jul 2009 00:00:00 -0700

South Side leaders rally for a new Wal-Mart in their neighborhood. Navistar may move its headquarters. Want freshly-tapped beer in your fridge all the time? MillerCoors is hoping you do. Report: Chicago-area toll roads may be sold.

Cheap beer sales up (07/28/09)

Tue, 28 Jul 2009 00:00:00 -0700

Beer drinkers pass up Bud for cheaper brews. Home prices post first month-to-month gain in three years, but still well off last year's levels. IBM buys Chicago-based software maker SPSS for $1.2 billion. Allstate dumps Nascar race sponsorship.

Economy bottomed out? (07/27/09)

Mon, 27 Jul 2009 00:00:00 -0700

New signs of stabilization in the local economy, but a recovery may be a ways off. Lisa sits down with Mesirow Financial Chief Economist Diane Swonk. Midwest new-home sales jump 43%. South-Side Ford plant rolling out the new Taurus.

Recession entrepreneurs (07/24/09)

Fri, 24 Jul 2009 00:00:00 -0700

As the local unemployment rate tops 11%, a growing number of laid-off workers have decided to become their own bosses. Report: Private-equity firm may bid on Corus. Exelon’s profit drops along with electricity demand.

Harbor Country housing (07/23/09)

Thu, 23 Jul 2009 00:00:00 -0700

We head to Harbor Country, Michigan, for a look at how second homes are selling. Local home sales showing signs of improvement.McDonald's reports a drop in quarterly earnings and sales. CME Group tops analysts' estimates.

Boeing surprise (07/22/09)

Wed, 22 Jul 2009 00:00:00 -0700

Boeing surprises Wall Street with better-than-expected profits, but it remains to be seen what the Dreamliner delays will do to the bottom line. Northern Trust improves its financial picture. New bar planned for former Powerhouse restaurant space.

Power deal dead (07/21/09)

Tue, 21 Jul 2009 00:00:00 -0700

Exelon's plan to buy NRG is dead. United cuts international flights. Healthier credit markets and stimulus programs boost demand for Caterpillar's backhoes. The retail vacancy rate hits a 15-year high, and store shutdowns aren't the only reason.

Neighborhood treasures buried (07/20/09)

Mon, 20 Jul 2009 00:00:00 -0700

Communities crushed by the loss of their beloved small businesses. We take a look at some fallen favorites and why this recession was one they just could not survive. Wilton, the king of cake-decorating tools, could be forced into bankruptcy.

Corus takeover? (7/17/09)

Fri, 17 Jul 2009 00:00:00 -0700

One report says Corus Bankshares may be seized by federal regulators within weeks and its assets auctioned off. Continental Airlines chief executive stepping down to return to private equity. Sun-Times reportedly tries to reassure employees that it's

'The Big Willie' (07/16/09)

Thu, 16 Jul 2009 00:00:00 -0700

The Sears Tower is officially renamed Willis Tower. Illinois still ranks in top 10 nationwide for home foreclosures. Local companies report better-than-expected earnigs. Boeing wins a major satellite deal.

Rezko mansion auction (07/15/09)

Wed, 15 Jul 2009 00:00:00 -0700

Tony Rezko's infamous mansion is on the auction block. One developer says there is a housing shortage - We'll tell you where. Pentagon cutbacks force Boeing to lay off 1,000. WW Grainger says there is no sign of a pickup in consumer demand.

Frango is back (07/14/09)

Tue, 14 Jul 2009 00:00:00 -0700

Frango production returning to local candy lines. Report: Private equity group bidding on Corus Bankshares. Tommy Hilfiger to coach aspiring fashion moguls in Chicago's Fashion Incubator.Weak consumer demand equals fewer goods shipped, and now the i

UAL's future (07/13/09)

Mon, 13 Jul 2009 00:00:00 -0700

The future of United Airlines and why Wall Street is betting another trip to bankruptcy court is a likely destination. Cubs reportedly may file for Chapter 11 to help speed sale. Children's Museum move to Grant Park facing opposition from more than j

CME v. ELX (07/10/09)

Fri, 10 Jul 2009 00:00:00 -0700

CME Group, the world's largest futures exchange, faces some new competition from an upstart rival backed by Wall Street giants. General Motors exits bankruptcy after just 40 days. Chicago's strip-mall vacancy rate tops the overall nation.

Post office auction (07/09/09)

Thu, 09 Jul 2009 00:00:00 -0700

The Old Main Post Office building could be yours for the taking. That is, as long as you can afford the taxes and renovation costs.Exelon's John Rowe says he has no plans to raise NRG offer. Kraft, Deere among companies lobbying for big rigs on the h

Hawking Smith & Hawken (07/08/09)

Wed, 08 Jul 2009 00:00:00 -0700

Tribune denies reports it has reached a deal for the Cubs with either Ricketts or Utay. Gardening chain Smith & Hawken faces possible liquidation. Former Blago adviser slapped with $2 million foreclosure lawsuit. Exelon is rebuffed by NRG.

Wrigley name change? (07/07/09)

Tue, 07 Jul 2009 00:00:00 -0700

As a deal for the Cubs nears completion, will Wrigley Field keep its name? Empty suburban office space nears its highest level of the decade. And a report says Hoffman Estates may have to rescue the Sears Centre

Cubs close deal (7/6/09)

Mon, 06 Jul 2009 00:00:00 -0700

Tribune and the Ricketts family finalize the sale of the Cubs and Wrigley Field. Illinois ranks No. 1 in bank failures. Recession means better business for mediation firms. Local non-profits caught in the middle of the state budget stalemate.

On the 'Ledge' (07/02/09)

Thu, 02 Jul 2009 00:00:00 -0700

'The Ledge' opens to the public, offering a chance to 'float' above the city. One payday lender stopped courting the unemployed after Crain's wrote about the practice this week. Exelon raises its hostile offer for rival power producer NRG.

Fay Financial: Housing hero

Wed, 11 Nov 2009 08:08:40 -0800

The recession is fueling lots of startups, but only a few will survive—like those that seize on opportunities created by the downturn itself. Take Fay Financial, the mortgage servicer that's helping homeowners—and their lenders—avoid foreclosure.

Marbles: The Business of Learning

Wed, 04 Nov 2009 10:11:17 -0800

Amid the worst retail recession ever, Lindsay Gaskins has been busy opening Marbles: The Brain Store locations all over Chicago.

Stimulating small business

Wed, 04 Nov 2009 11:00:39 -0800

The federal stimulus is getting credit for saving the U.S. economy from ruin—but has it helped entrepreneurs? We talk to one local business owner who got government help and consult an expert on what entrepreneurs can expect from the stimulus—if anyt

Total Attorneys: Culture club

Wed, 04 Nov 2009 11:02:43 -0800

What is culture? Total Attorneys CEO Edmund Scanlan doesn’t bother defining it. And yet, he calls culture “the bedrock” of his business. Whatever it is, it’s working: seven years after its founding, Total Attorneys will crack $30 million in revenue.

Zoë Damacela: Young entrepreneur

Mon, 09 Nov 2009 09:21:20 -0800

At 17, Zoë Damacela has a growing business, funding from several Chicago business organizations and the ear of some of the city’s most prominent entrepreneurs. But her story isn’t about success, it’s about the power of entrepreneurship.

Half Acre Beer: Microbrew in a macro town

Mon, 09 Nov 2009 09:28:48 -0800

Chicago is a beer drinker’s town – but not much of a beer maker’s town. Until a few years ago the city was home to just one commercial brewery. Gabriel Magliaro is out to change that with Half Acre Beer, his North Side startup.

Groupon: Community cash

Thu, 05 Nov 2009 11:22:28 -0800

When Andrew Mason started The Point, he didn’t care much about profits. Then he started Groupon, a group-discount website, and the cash came in. It quickly taught him a lesson: working for profit was as rewarding as trying to change the world.

TopGolf: Hackers welcome

Wed, 04 Nov 2009 10:51:18 -0800

TopGolf is golf for non-golfers. At least that’s what its CEO, Joe Vrankin, wants it to be. Vrankin is tailoring the experience at his tricked-out driving ranges, like the one in Wood Dale, for the 250 million Americans who don’t play the game.

Homemade Pizza Co.

Thu, 05 Nov 2009 09:51:27 -0800

Nobody was complaining about the lack of good pizza in Chicago. But Eric Fosse thought he could make a fresher, better pie with a unique twist, and, just maybe, make money selling it. Can Homemade Pizza Co. keep its momentum?

Big ideas, small profits

Mon, 09 Nov 2009 09:23:07 -0800

With old media reeling, a handful of Chicago entrepreneurs are bringing innovation to the news business. But will they find a model that works?

Callpod: Running with the big dogs

Thu, 05 Nov 2009 09:17:03 -0800

Darren Guccione won’t back down from a fight. That comes in handy in the gadget business, where his startup battles giant competitors and even some major customers. Can his young company, Callpod, run with the big dogs?

Crowdspring: Story of a startup

Wed, 04 Nov 2009 11:03:11 -0800

Ross Kimbarovsky and Michael Samson stumbled upon an idea for a business in mid-2006. Today they’re doing it, in a dim basement office, with six employees and $3 million in venture capital. This is their story.

Dot-calm

Mon, 09 Nov 2009 09:26:38 -0800

Matt Moog has seen this before. In the last recession, he took over reeling CoolSavings. He returned it to profitability in a year. Now he’ll try to work similar magic at Viewpoints.com, which has been growing at a healthy clip—so far.

Technology hunter

Mon, 09 Nov 2009 09:20:54 -0800

Zach Kaplan has a simple proposition for big consumer companies: He’ll scour the globe on their behalf for new, groundbreaking gizmos and materials that could them tackle their biggest challenges—innovation and cost.

Coskata's clean-energy crusade

Wed, 04 Nov 2009 11:03:37 -0800

The entrepreneurs at Coskata have what most entrepreneurs only dream of: $80 million in funding, big corporate backers and a technology that could change the world, in the form of a bug that exhales fuel-grade ethanol.

Teaching for dollars

Mon, 09 Nov 2009 09:21:43 -0800

Chicago entrepreneur Howard Tullman has started 10 companies in 28 years. With his latest venture, Flashpoint Academy, Mr. Tullman is taking on a business long dominated by non-profits and government: education. Is there money in teaching?

Absinthe: Bad boy of booze

Thu, 23 Jul 2009 14:12:13 -0700

After nearly 100 years, absinthe is back. How one local distillery is making and marketing the maligned drink of Hemmingway and Van Gogh.

High stakes: Online poker entrepreneurs

Mon, 09 Nov 2009 09:22:01 -0800

Taylor Caby, 24, is a phenom in online poker who's made millions playing the game. His company, CardRunners, isn't do so badly, either.

Inside Brand Obama

Thu, 05 Nov 2009 10:14:19 -0800

Hope. Change. A new day dawning. Amber waves of red, white and blue. It's all in Barack Obama's brand identity, and it's a huge opportunity for one local entrepreneur.

Architect Adrian Smith aims mile high

Thu, 23 Jul 2009 14:04:48 -0700

Watch how Adrian Smith, designer of the Burj Dubai and co-founder of Adrian Smith + Gordon Gill Architecture, is shaping the booming Emirate of Dubai.

Fashion designer Lara Miller dresses up

Mon, 09 Nov 2009 09:22:15 -0800

How does Chicago fashion designer Lara Miller make art, and make a profit? It's not easy. Here's how one talented designer and entrepreneur turns her muse into money.

Taking a spin in the Smart Car

Mon, 09 Nov 2009 09:22:24 -0800

How is this tiny car, which gets more than 50 miles to the gallon, helping one Palatine entrepreneur?

The ping pong champs at Killerspin

Thu, 05 Nov 2009 09:51:40 -0800

Table tennis sexy? You'd better believe it. A Chicago company reinvents an old sport.

Bunnytown: a new kid’s TV concept

Thu, 23 Jul 2009 13:58:14 -0700

Cookie Monster has moved to the North Shore. Watch a Highland Park business storm the children's TV market.

An organic food supplier sprouts profits

Thu, 05 Nov 2009 09:53:07 -0800

Watch how Goodness Greeness, a small company on the South Side of Chicago, has become a $30 million player in the nation's organic food chain - yams, bananas, broccoli and beyond.

Threadless.com goes brick-and-mortar

Wed, 04 Nov 2009 12:06:06 -0800

Can Chicago Web phenom Threadless make it in the real world? Go inside the company's brick-and-mortar experiment.

A jazz leader's lessons in leadership

Mon, 09 Nov 2009 09:22:34 -0800

Leadership lessons from the bandstand: Chicago's top arranger sounds off.

Sourcing coffee in Brazil

Mon, 09 Nov 2009 09:25:00 -0800

Chicago coffee entrepreneur Tony Dreyfuss shows how to develop business ties with Brazilian farmers.

The bike-messenger business model

Mon, 09 Nov 2009 09:25:09 -0800

The thrills, spills and business insights of Chicago bike messenger Josh Korby.

Monks sell . . . coffins, that is

Thu, 05 Nov 2009 09:53:35 -0800

Monks, caskets and the economic theories of St. Benedict. What lessons do 9 holy men on the South Side of Chicago have for your business?

Demystifying closed-end funds

Mon, 24 Aug 2009 11:53:57 -0700

Crain's Lisa Leiter talks with Patrick Galley, chief investment officer at RiverNorth Capital Management, about what type of investor should consider closed-end funds and where the best opportunities can be found.

Long-term Care Insurance

Wed, 04 Nov 2009 14:48:40 -0800

More than 8 million Americans already have long-term care insurance. But those approaching retirement who have lost money in the stock market may be reluctant to shell out thousands of dollars in annual premiums for insurance they may never need.

Evaluating ETFs for Retirement Plans

Thu, 05 Nov 2009 10:11:14 -0800

Crain's Lisa Leiter talks with Tim Hannahs, managing director of Fifth Third’s Private Bank here in Chicago, about whether ETFs are an attractive choice for tax-deferred retirement plans.

Considering Commodities

Thu, 05 Nov 2009 10:11:01 -0800

Considering Commodities: How to enhance your portfolio.Hear insights on:*Whether commodities have bottomed out.*The outlook for inflation.*Which sectors have the most potential.

Portfolio Overhaul

Thu, 05 Nov 2009 10:10:48 -0800

Lisa Leiter talks about navigating the current market conditions with Dorothy Bossung, managing director of Chicago-based InterOcean Wealth Management.

Wal-Mart rally

Wed, 29 Jul 2009 00:00:00 -0700

South Side leaders rally in support of a Wal-Mart to be built in their neighborhood.

On the 'Ledge'

Wed, 29 Jul 2009 12:40:03 -0700

Take a tour of the Willis Tower's newest addition.

Interview with Craig Donohue

Mon, 06 Apr 2009 00:00:00 -0700

Interview with Craig Donohue

Auto Show aims to drive up demand

Thu, 05 Nov 2009 09:50:07 -0800

Jerry Cizek, president and general manager of the Chicago Automobile Trade Assn., previews the 101st Chicago Auto Show with a look at new cars that automakers hope will light a fire under reluctant buyers. The big news for 2009 is more hybrids and el

Autos 2009: Torrence Avenue's hope

Fri, 13 Feb 2009 00:00:00 -0800

Car experts are buzzing about the 2010 Ford Taurus, as are workers at Ford’s Chicago Assembly Plant. They hope the old brand’s muscular new look can help spark Ford sales - and save their jobs.

Inauguration Day

Wed, 21 Jan 2009 00:00:00 -0800

Sights and sounds of inaguration day.

Chicago's coolest offices

Thu, 05 Nov 2009 09:50:35 -0800

Tour offices like those in a 1909 building, once home to coal-fired burners, that’s still energized by nearby trains, and see more inspiring—and inspired—work places.

2008 Election: Sights and sounds

Wed, 05 Nov 2008 00:00:00 -0800

Tens of thousands of revelers crowded downtown Chicago last night tocelebrate Illinois Sen. Barack Obama's election to the White House. Crain'swas there too, to bring you the sights and sounds of a historic evening.

Team Oracle: Corporate Sponsorship

Thu, 05 Nov 2009 10:08:39 -0800

Shawn D. Tucker from Team Oracle discusses corporate sponsorship.

Team Oracle: Father & Son

Thu, 05 Nov 2009 10:08:26 -0800

Team Oracle and the Collaborators invited Crain's Chicago Business to spend the day with them flying. After a magestic flight across the Chicago skyline we spent some time asking Shawn D. Tucker and his son, Eric, about their father son team.

Green-collar jobs

Fri, 27 Jun 2008 00:00:00 -0700

Meet Kevin Bart, a solar panel installer whose economic worries are few.

Society: Inner-City Teaching Corps

Wed, 18 Jun 2008 00:00:00 -0700

Celebri-soul-singer Seal headlined the $1,000-per-person event celebrating the group’s 15th anniversary, with 750 guests attending and more than $1.3 million raised.

Looptopia '08 - Sights & Sounds

Mon, 05 May 2008 00:00:00 -0700

Sights and sounds of Chicago's Looptopia 2008.

Trump Ribbon-cutting

Tue, 29 Apr 2008 08:00:00 -0700

Trump International Hotel & Tower officially opened its doors to the public Monday.

Tour Trump Tower

Tue, 29 Apr 2008 00:00:00 -0700

Director of Sales and Marketing, Robert F. Prohaska takes us on a tour of Trump International Hotel &Tower as it officially opened its doors to the public Monday.

Wrigley announces Mars merger

Mon, 28 Apr 2008 00:00:00 -0700

Wm. Wrigley Jr. Co. announced Monday that it would sell itself to candy maker Mars and billionaire investor Warren Buffett in a deal valued at $23 billion. In a press conference at Wrigley’s historic Michigan Avenue headquarters, chairman Bill Wrigle

Foreclosure Fallout

Mon, 21 Apr 2008 00:00:00 -0700

Aftereffects of subprime lending binge cripple communities across the Chicago area. Austin is one of the hardest hit areas. More foreclosures are coming as adjustable-rate mortgages continue to reset higher than homeowners can afford to pay.

Super Beer Sunday

Thu, 05 Nov 2009 10:08:52 -0800

A pre-game look behind the scenes at DDB Chicago, the ad agency behind a nine-year streak of top-rated Super Bowl ads. Meet the guy-humor aficionados who brought you beer icons from Spuds MacKenzie to ¿wazzup.¿

Green Builders Expo

Mon, 03 Aug 2009 11:08:51 -0700

Go behind the scenes at one of the world's largest trade shows of green technologies ¿ see the latest developments in building materials, solar power, toilets and more. We were there. Here's what happened.

Navistar Goes To War

Thu, 05 Nov 2009 09:49:51 -0800

Take a closer look at the new min-resistant, ambush-protected military vehicle.

Vets: Chuck W. Brewer

Fri, 09 Nov 2007 05:00:00 -0800

Chuck Brewer, a major in the Marine reserves and a division vice-president at Sears Holdings Corp., has been deployed to Iraq twice. During both tours, Sears covered the difference between his corporate salary and his military pay. This is his story.

Vets: Roberto Marquez

Sat, 10 Nov 2007 00:00:00 -0800

Serving in the Marine Corps, Roberto Marquez spent five years working in food-service and supply-chain jobs ¿ gaining experience that he thought would help him launch a career in restaurant management. This is his story.

Chicago Marathon: October 8th, 2007

Thu, 05 Nov 2009 09:49:39 -0800

Chicago lawyer Robert Held thinks he's an elite runner. Did he prove it during the 2007 Chicago Marathon? From training to finish line, here's his story.

The Chicago Spire

Thu, 05 Nov 2009 10:06:55 -0800

Architect Santiago Calatrava showed this video to the city's Plan Commission as part of his presentation to win city approval for the 2,000-foot Chicago Spire, which would be the tallest all-residential building in the world.

2008 - Google - #1

Sat, 01 Mar 2008 00:00:00 -0800

Crain's takes you on a tour of Google's Chicago office to see how free food, video games and copious white boards yield a productive and creative workplace.

The ping pong champs at Killerspin

Fri, 11 Jan 2008 21:00:00 -0800

Table tennis sexy? You'd better believe it. A Chicago company reinvents an old sport.

How does Chicago stack up?

Mon, 29 Sep 2008 00:00:00 -0700

Olympics expert Ed Hula, founder of AroundTheRings.com, compares the four host city hopefuls for the 2016 Summer Games: Tokyo, Madrid, Chicago and Rio de Janeiro.

Enterprising Women: Judge Ilana Rovner

Fri, 03 Oct 2008 22:30:00 -0700

Judge Ilana Rovner, the first woman appointed to the U.S. Court of Appeals for the Seventh Circuit, survived the Holocaust and cancer.

The last pinball wizard (7/23/08)

Wed, 23 Jul 2008 00:00:00 -0700

Boeing sold more planes, McDonald's sold more burgers, but only one satisfied investors; Comcast or AT&T for your TV; and before Golden Tee, there was pinball. Lisa goes behind the scenes of the last pinball-machine factory.

Coskata's clean-energy crusade

Wed, 10 Sep 2008 00:00:00 -0700

Golf Buddies: Networking

Wed, 04 Nov 2009 10:53:54 -0800

Golf Buddies, Adam Kelly and Kevin Hull discuss networking on the golf course.

Enterprising Women: Nicole Loftus

Fri, 03 Oct 2008 21:00:00 -0700

Nicole Loftus took her one-woman startup and turned it into the city’s fastest-growing company in just six years.

State Street transformed

Fri, 28 Mar 2008 22:00:00 -0700

When Crain’s debuted in 1978, State Street was home to ramshackle retailers and gentlemen’s clubs. Today, it’s an actual neighborhood, with shopping, dining and even college-student residents.

Super Beer Sunday

Thu, 31 Jan 2008 00:00:00 -0800

Enterprising Women: Valarie King-Bailey

Fri, 03 Oct 2008 22:15:00 -0700

Valarie King-Bailey went where few women wanted to go: engineering school. She was the first black woman to graduate from the University of Wisconsin’s program.

Best Restaurants for Business

Sat, 26 Jan 2008 00:00:00 -0800

Our critics name their best of the best for both formal steakhouse dining and casual lunches downtown.

Cubs sale takes new twist (5/16/08)

Fri, 16 May 2008 00:00:00 -0700

The saga that the Cubs sale process has become took another twist this week when Tribune Co. owner Sam Zell shot down the state’s offer to buy Wrigley Field. Is there any chance taxpayers could wind up owning the Friendly Confines? And with the Cubs

Michigan Avenue freeze-out (5/09/08)

Fri, 09 May 2008 00:00:00 -0700

The number of empty storefronts in Chicago has soared to a four-year high in the last few months. As consumers cut back, retailers are reining in expansion, if not contracting or going out of business altogether.

More home-price pain? (4/25/08)

Fri, 25 Apr 2008 00:00:00 -0700

With unsold homes piling up and pricing tumbling down, Chicago homeowners have plenty to be nervous about. Is there any end in sight? New data offers an unfriendly answer – with home values far outpacing incomes, Chicago home values could continue to

Airline-merger misery (4/18/08)

Fri, 18 Apr 2008 00:00:00 -0700

With Delta and Northwest closing in on a merger, possibly followed by a United-Continental deal, air travelers should prepare for the worst. Airline hookups typically lead to higher fares and poorer service.

Moto's breakup (3/28/08)

Fri, 28 Mar 2008 00:00:00 -0700

Motorola’s plan to split itself into two companies—one that makes cell phones and one that makes the other stuff Moto makes—has big implications for Chicago’s status in the tech world. If it doesn’t work, the city could fall off the tech map.

Suburban train wreck (3/21/08)

Fri, 21 Mar 2008 00:00:00 -0700

Canadian National Railway Co. CEO Hunter Harrison wants to shift 20-plus trains a day from downtown to a rail route that runs through dozens of bucolic Chicago suburbs.

Friendly Confines Controversy (3/14/08)

Fri, 14 Mar 2008 00:00:00 -0700

Tribune Co. CEO Sam Zell's plan to sell Wrigley Field to taxpayers has whipped up the biggest Friendly Confines controversy since Steve Bartman left the building.

McDonald's kiddie problem (3/07/08)

Fri, 07 Mar 2008 00:00:00 -0800

McDonald's keeps making waves with its kids advertising, which leaves the burger giant in a tough spot. It can't stop marketing to children, who make up a huge chunk of sales, but it can't afford much moresales, but it can¿t afford much more bad PR.

Foreclosure free-fall (2/29/08)

Wed, 05 Mar 2008 00:00:00 -0800

As Chicago-area foreclosures jumped nearly 50%, last year, the housing crisis spread far beyond the lower-income neighborhoods where it began. Hit especially hard: Northwest Side stalwarts like Albany Park and Belmont-Craigin. Is there any end in sig

Social Split: Obama v. Clinton (2/22/08)

Sat, 23 Feb 2008 00:00:00 -0800

The presidential race between Barack Obama and Hillary Clinton is spilling into the Chicago social scene, as big-name Democrats find that their choice of candidate can touch a raw nerve with even their closest friends. Will they bury the hatchet?

Sears On The Brink (2/15/08)

Fri, 15 Feb 2008 00:00:00 -0800

Sears Holdings Chairman Eddie Lampert has enough problems for a dozen corporate bosses. He¿s got to boost sales while conserving cash, and find a new CEO with retail experience who buys into Mr. Lampert¿s unconventional ideas about running department

United's Long Courtship (2/08/08)

Fri, 08 Feb 2008 00:00:00 -0800

Chicago's hometown airline may finally be close to the merger that CEO Glenn Tilton wants. Meanwhile, Mr. Tilton has a plan to shore up United's shaky business: charge travelers $25 for checking a second bag. What else can the airline charge for?

Wrigley Field Name Game (02/01/08)

Fri, 01 Feb 2008 11:00:00 -0800

The Cubs and their new owners at Tribune want Wm. Wrigley Jr. Co. to ante up for the privilege of keeping the corporate name on storied Wrigley Field. But is the gum maker ready to play ball?

Exchange Wars (01/25/08)

Fri, 25 Jan 2008 00:00:00 -0800

CME Group, Chicago's futures-trading juggernaut, suddenly faces a threat to its dominance. Investors are questioning how the exchange will respond to market turmoil and to an upstart rival.