Today at 9:34 a.m.
Filed under: Housing
, Real estate
"For sale" signs line a Chicago street. (Nancy Stone, Chicago Tribune)
The median price of a condominium sold in Chicago last month beat its year-ago comparison for the first time in two and a half years, new data shows.
The median price of a condo within the city rose to $275,000, up 2.8 percent from $267,500 a year ago, according to a monthly sales report released Wednesday by the Illinois Association of Realtors. The last time Chicago condo prices recorded a year-over-year gain was in October 2008, when the median sales price of $315,000 was a 3.3 percent gain from October 2007. Get the full story »
Today at 8:21 a.m.
Filed under: Cell phones
Apple Inc.’s next-generation iPhone will have a faster processor and will begin shipping in September, three people with direct knowledge of the company’s supply chain said.
The production of the new iPhone will start in July/August and the smartphone will look largely similar to the iPhone 4, one of the people said on Wednesday. Get the full story »
Today at 7:20 a.m.
Filed under: Earnings
Abbott researchers using a robot to test compounds. (Lane Christiansen/Tribune)
Abbott Laboratories’ first-quarter profits dipped 14 percent thanks largely to restructuring costs of its pharmaceutical business that led to a major layoff announcement earlier this year.
The North Chicago-based drug and medical product giant, which in January said it would slash 1,900 jobs, including 1,000 in Illinois, reported $864 million in profits, or 55 cents a share. That compares to earnings of $1 billion, or 64 cents a share in the first quarter of 2010. Get the full story »
Today at 6:30 a.m.
Filed under: Autos
The 2013 Ford Taurus. (Ford Motor Co.)
Ford Motor Co. unveiled a more fuel-efficient version of its flagship sedan, the Taurus, aimed at attracting consumers sensitive to rising fuel prices.
The 2013 Ford Taurus is expected to get at least 31 miles per gallon on the highway and can be outfitted with two different types of engines, Ford executives said at an event linked to the New York auto show. Get the full story »
Today at 6:07 a.m.
Filed under: Labor
, Work culture
In 2010, chief executives at some of the nation’s largest companies earned an average of $11.4 million in total pay — 343 times more than a typical American worker, according to the AFL-CIO.
“Despite the collapse of the financial market at the hands of executives less than 3 years ago, the disparity between CEO and workers’ pay has continued to grow to levels that are simply stunning,“ said Richard Trumka, AFL-CIO president. Get the full story »