Inside these posts: Chicago business

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Snow hits home: Big companies, malls closed

Click here for photos of the 2011 Chicago blizzard

One of the biggest snowstorms in Chicago history has paralyzed businesses across the region.

The blizzard, which dumped more than 20 inches of snow on the Chicago area Tuesday night and Wednesday, will have a significant economic impact, as banks, retailers and other companies that rely on face-to-face contact with their customers were closed Wednesday or struggling to open.


Downtown businesses were mostly abandoned Wednesday morning.

One of the only lights emanating from the Thompson Center came from the Dunkin’ Donuts. The newsstand, the salon, the nail parlor, which usually bustle with commuters from the Clark/Lake stop, were closed and darkened. Get the full story »

Chicago investor submits $25M for hockey team

The city of Glendale, Ariz., says a prospective buyer of the Phoenix Coyotes hockey team has deposited $25 million in an escrow account “in a show of good faith.”

Glendale, in a news release Friday, said the buyer has asked for confidentiality because negotiations are ongoing, but there have been multiple reports the city has been in talks with Chicago investor Matthew Hulsizer.

The figure is equal to the amount of city funds Glendale had deposited, at the NHL’s insistence, to cover potential losses for the coming season while a local buyer was sought. Get the full story »

Poverty spikes in suburbs around Chicago

Battered by the downturn, suburbs around Chicago and other cities are bearing the brunt of poverty that has climbed to its highest level in almost a half century.

Fast Company: Chicago a great place for business

Fast Company | The Windy City has a strong startup culture, lots of federal research dollars, and talented fourth-generation entrepreneurs, says Fast Company magazine. In an article on Chicago’s business culture, Fast Company interviews Matt McCall, a partner at New World Ventures and managing director at DFJ Portage. McCall notes that Chicago is home to many of the largest companies in the U.S., and that the city “is where many Internet mainstays were launched, from the jobs site CareerBuilder and travel service Orbitz to RSS technology innovators Feedburner.”

McCall describes a typical Chicago entrepreneur as “incredibly capital efficient because obviously capital is scarce in the Midwest…they tend to be very collaborative and cooperative.”

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