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Hospira board has ’short list’ for new CEO

Hospira Inc. chief executive officer Christopher Begley said this morning that the company’s board will be interviewing candidates to succeed him in the next two months from a newly-created “short list.”

Begley, the top executive of the Lake Forest-based generic drug and device maker, told Wall Street analysts on the company’s third-quarter earnings call that “several dozen” applicants for his job have been pared down to a “short list.” Get the full story »

LaNeve takes on more duties in Allstate shakeup

Less than a year after taking the chief marketing job at Allstate Corp., Mark LaNeve is taking on a greater role at the Northbrook-based home and auto insurer.

As part of a leadership shakeup, the former General Motors Corp. sales executive will also oversee Allstate’s agency sales operations, in addition to his current role in marketing. The combined marketing and sale unit will report to both Chief Executive Tom Wilson and to Joe Lacher, president of Allstate Protection. Get the full story »

General Growth to reach end of bankruptcy

General Growth Properties Inc., the No. 2 U.S. mall owner, is slated to clear its final bankruptcy hurdle on Thursday, ending the largest U.S. real estate Chapter 11 filing.

While bankruptcy could soon be behind it, the company has a lot of challenges ahead, as investors and Wall Street will be looking at how it regains credibility as one of the largest U.S. real estate investment trusts. Get the full story »

Baxter International shakes up senior management

Baxter International Inc. Chief Executive Bob Parkinson shook up his management team, disclosing this afternoon the departure of two senior executives and a plan to combine the company’s renal and medication delivery businesses into a “single global unit.”

The move essentially turns Baxter into a company focused on two divisions: medical products and bioscience treatments. The medical products business will include medication delivery devices such as intravenous systems while the bioscience business will include drugs to treat immune system disorders and blood diseases such as its flagship drug Advate to treat people with hemophilia. Get the full story »

Survey: Recession drives bosses and workers closer

Few bosses need worry that their employees want their jobs as most workers are just happy to be employed, and one fifth would even have a fling with their boss if it helped their career, according to a U.S. survey.

The U.S. recession has driven bosses and their employees closer together and only 30 percent of employees want their boss’s stressful job, recruitment firm Adecco Staffing U.S. found in a poll tied to National Boss Day in mid-October.

But the survey found that some people are willing to go to greater lengths to keep their jobs in a tough market. Get the full story »

Eisner says he’d advise, not run, Tribune Co.

Former Disney Co. chief Michael Eisner denied rumors Tuesday morning that he will become chairman of a post-bankruptcy Tribune Co.

In an interview with WGN-720 AM host Greg Jarrett, Eisner acknowledged that he had bought Tribune debt as an investment and knew some of the principals involved, but said a journalist “put 2 and 2 together and got 11″ in speculating that Eisner would move into the top job at Tribune. Get the full story »

Brookfield execs to lead new General Growth board

General Growth Properties Inc. on Tuesday named the nine members of the board of the company that will emerge from bankruptcy protection and take the No. 2 U.S. mall owner forward.

General Growth said Bruce Flatt, chief executive of Brookfield Asset Management, will be the chairman upon emergence from bankruptcy in early November. Get the full story »

Kellogg falls to 5th in WSJ executive MBA rankings

Northwestern University’s Kellogg School of Management slipped to fifth place in the Wall Street Journal’s second executive MBA rankings, released today.

The program was top ranked when the Journal issued its first executive MBA rankings in 2008. It’s also the second-most expensive program in the top 25, with a total cost of $153,900, behind Wharton, at $167,250. Get the full story »

McPier retains bond ratings ahead of $1.18B issue

The agency that owns and operates McCormick Place will approach its long-awaited financial restructuring next week with its debt ratings intact.

The three major rating services held the line on their respective ratings of Metropolitan Pier and Exposition Authority expansion project debt in reports issued Monday and today, ahead of an anticipated negotiated sale of $1.18 billion in bonds on Oct. 6. Get the full story »

Citi sets raises, bonuses for top 25 execs

The top 25 executives at Citigroup Inc., except Chief Executive  Vikram Pandit, are getting multimillion dollar salary raises in stock and potentially much more in bonuses.

Citi released the amounts of the raises in a public filing for its top officers Friday. Get the full story »

Goldman hit with gender-bias suit

Three former female employees of Goldman Sachs & Co. are suing the  Wall Street firm, charging rampant gender discrimination that unfairly favors men in pay and promotions.

The suit filed Wednesday by the three women alleges that Goldman has violated federal and New York City laws by engaging in a systematic “pattern and practice” of discrimination against female professionals at the firm. They are asking a federal judge to certify the case as a class-action suit on behalf of the firm’s women employees. Get the full story »

Search for McCormick Place manager begins

The state-mandated McCormick Place revamp moved into a second phase Wednesday with the launch of a search for a private management firm to run the convention center.

This comes on the heels of broad moves to cut exhibitors’ costs for electrical and food services and to give them greater leeway to do their own booth work. Get the full story »

GM veteran to lead Volkswagen in U.S.

Volkswagen has named a former Ford and GM executive to lead the German automaker’s ambitious growth plans in the U.S. Get the full story »

MB Financial among 17 banks named as takeover targets

Some say the wave of bank consolidation seen in the last two decades is over, but an outspoken analyst who developed a formula for identifying banks that could be takeover targets on Thursday listed 17 he says are ripe, including Chicago-based MB Financial. Get the full story »

Boeing slims down military aircraft business

Boeing Co. is slimming down its military aircraft business and cutting workers as the U.S. tightens defense spending and profit margins shrink.

Boeing’s military division makes the well-known Chinook transport helicopters, as well as the C-17 transport and the F/A-18 fighter-bomber.

The job cuts will start with 10 percent of the group’s executives. Boeing didn’t say how many more workers will lose jobs. It will consolidate six divisions of the business into four. Get the full story »