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Manufacturing companies grew faster in August as the industrial sector continues to lead the recovery, and managers’ desire to hire shot up to the highest level in nearly 30 years.
The Institute for Supply Management said Wednesday its manufacturing index rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. The manufacturing sector has expanded for 13 straight months.
Former Disney CEO Michael Eisner on July 7, 2010. (AP Photo/Nati Harnik)
By Dawn C. Chmielewski, Michael Oneal and Sallie Hofmeister
Former Walt Disney Co. Chief Executive Michael Eisner is in discussions that could lead to his return to the media spotlight — as chairman of the now-bankrupt Tribune Co.
The Chicago-based media company’s largest creditors are having preliminary conversations with prospective candidates who could operate Tribune Co. once it emerges from bankruptcy, according to several people with knowledge of the situation.
Eisner, who has been dabbling in the digital world as an investor since stepping down from Disney in 2005, is among the candidates under consideration to replace Chicago real estate magnate Sam Zell as chairman of the reorganized company. Get the full story »
With support from hundreds of Jewish leaders, Chicago Hyatt workers are calling for a boycott of “one or more” Hyatt hotels in the Chicago area, according to Unite Here, the hotel workers’ union.
The properties will join seven other boycotts announced by the union at Hyatt properties. The union would not say which hotels are planned for the boycott, which is scheduled to be announced Tuesday afternoon in front of Hyatt Global Headquarters. Get the full story »
Shares in BP rose 1.2 percent in London on Friday, taking their bounce since the near 14-year low in June to 45 percent, lifted by the group’s latest progress in plugging the ruptured oil well in the Gulf of Mexico. Get the full story »
The incoming new top executive at the University of Chicago Medical Center wants to keep the prestigious South Side teaching hospital’s competitive edge in an era of health reform and threats from medical-care providers outside the area looking to expand here such as the Cleveland Clinic and Mayo Clinic.
Dr. Kenneth Polonsky, 59, the top doctor in the Department of Medicine at Washington University’s School of Medicine in St. Louis and a former U. of C. research physician was named Dean of the division of Biological Sciences and the Pritzker School of Medicine and Executive Vice President for Medical Affairs. He replaces Dr. James Madara, who resigned last year. Get the full story »
Brookfield Properties Corp. President Steven Douglas has resigned to take the role as chief financial officer of bankrupt shopping mall operator General Growth Properties, effective immediately, the companies said Monday. Get the full story »
BP Plc is expected to announce in the next 24 hours that Chief Executive Tony Hayward will step down and be replaced by Bob Dudley, a soft-spoken American unlikely to repeat the gaffes that have come to define Hayward in many Americans’ minds.
Dudley heads BP’s oil spill response effort. Just over a week ago, BP installed a temporary cap on the Macondo well, which had been spewing up to 60,000 barrels per day of oil into the Gulf of Mexico since April. Get the full story »
Sittercity.com, a Chicago-based Web site that pairs customers with baby and pet sitters and other caregivers, has named a new chief executive, replacing its founder with one of the venture capitalists who has a stake in the business.
Martin Clifford, a venture partner at Sittercity investor Point Judith Capital, has been named CEO. Genevieve Thiers, Sittercity founder and former CEO, will remain president of the board and a strategic adviser to the company. Get the full story »
Chrysler says it’s adding 500,000 square feet for a larger body shop at its assembly plant in Belvidere. Chrysler senior manager Ross Good told city leaders Tuesday that the company needs the extra space at its north-central Illinois plant but has no immediate information about what will be made there or any work force changes. Good spoke to Belvidere’s mayor and city council.
For-profit education provider DeVry Inc. said Friday that it appointed Steven P. Riehs president of K-12, Professional and International Education, starting Oct. 1.
Riehs will oversee a new organizational structure within DeVry that includes Advanced Academics, Becker Professional Education, DeVry Brasil and the company’s other international operations. Get the full story »
Exelon Corp. said Thursday that it has made several management changes, including the retirement of a key executive. Ian P. McLean, the 60-year old executive vice president of Exelon and CEO of Exelon Transmission Co., is retiring as of July 15. The company also said Darryl M. Bradford has been named senior vice president and general counsel for Exelon Corp. Bradford previously served in several leadership positions at Exelon subsidiary ComEd.
Plainfield-based Spring-Green Lawn Care Corp. announced Tuesday that it named Ted Hofer its chief executive.
Hofer, 35, will replace his father, Tom Hofer, who will remain the company’s chairman. Ted Hofer joined the company in 2005. Get the full story »
From the Wall Street Journal | Gerry Davis, managing partner for global practices at Heidrick & Struggles International, is the latest executive to leave the search firm.
From Automotive News | Lotus Cars reportedly has talked to former GM product chief Bob Lutz and retired BMW executive Tom Purves about advising on its five-year plan.
From Restaurant News | Greg Carey, president and chief operating officer of Chicago-based Flat Out Crazy Restaurant Group, says his company plans to start growing again over the next 18 months and has secured $8 million from U.S. Bank and HillStreet Fund IV to do it. The company owns Rainforest Cafe and P.F. Chang’s China Bistro, and is now targeting Texas, the Rocky Mountain states and the mid-Atlantic region for developing about six Stir Crazy casual-dining restaurants and about nine fast-casual Flat Top Grills, where guests create their own stir-frys.
