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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 »
747.jpg Spectators gather to watch the new Boeing 747-8 freighter during taxi tests for the new airplane. (AP)
Boeing Co. said Thursday it would delay first delivery of the 747-8 Freighter, its biggest commercial jet, but shares of Boeing rose on news that the delay would not hurt the company’s 2010 financial results. Get the full story »
American International Group Inc. laid out a plan on Thursday that sets the company on a path for an accelerated payback of taxpayer bailout money, but also increases the risk for the government.
The plan, which comes a little over two years after AIG was rescued from the brink of collapse, will see the Federal Reserve Bank of New York getting repaid in full and ending its involvement in AIG, leaving the company to deal with just the Treasury Department. Get the full story »
Workers at a McDonald's restaurant in Oak Brook. (Tribune photo by Terry Harris)
McDonald’s Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul. The move is one of the clearest indications that new rules may disrupt workers’ health plans as the law ripples through the real world. Get the full story »
One of several models of tricycles being recalled. (Fisher-Price)
By Bloomberg News
Mattel Inc.’s Fisher-Price subsidiary is recalling almost 11 million toys, including tricycles, after reports of children being cut or choking, the U.S. Consumer Product Safety Commission said today.
The recall is the largest for toys since Congress passed a law two years ago beefing up the product-safety regulator’s powers. Mattel and Fisher-Price were fined $2.3 million in June 2009 for toys violating federal lead-paint laws, at the time the largest civil fine in CPSC history. Get the full story »
The Illinois Department of Insurance said it has taken steps to prohibit several companies from “marketing and selling non-comprehensive health insurance” in the state without a license. Get the full story »
American International Group is close to finalizing a plan for the U.S. government to sell its stake in the insurer and is hoping it will yield a profit for taxpayers who bailed out the company, Chairman Steve Miller said on Wednesday. Get the full story »
Chicago-area restaurant chain Boston Blackie’s is closing some of its locations almost a year after the company filed for Chapter 11 bankruptcy protection.
An employee who answered the phone at the chain’s River East location said it was closing effective immediately. He declined to comment further. The Boston Blackie’s next to the Doubletree Hotel in Skokie also closed on Sunday, according to a hotel employee. Phone numbers listed on the company’s Web site for locations in Lincoln Park, Glencoe and Naperville were disconnected or out of service on Tuesday afternoon. Get the full story »
Carson Pirie Scott and Calvin Klein plan to open a pop-up shop in River North on Friday, a first for both companies.
The 1,600 square-foot store, at 116 W. Hubbard St., will remain open for seven days and showcase Calvin Klein’s fall collection of sportswear, dresses, jeans, underwear and accessories. The companies are taking over unfinished retail space on the first floor of Hub 116, a newly constructed office and gallery building. Get the full story »
The R2-D2 Droid. (Motorola)
A limited-edition version of Motorola’s Droid 2 phone resembling lovable Star Wars droid R2-D2 will go on sale Thursday at one Verizon Wireless store in downtown Chicago.
Verizon, the exclusive carrier for the phone, said its store at 36 S. State St. will open at 12:01 am on Thursday. It has 100 of the devices in stock. The phone runs Google’s Android operating system and costs $249 with a rebate and two-year contract. Get the full story »
Shoppers at a Walgreens in Vernon Hills. (Lane Christiansen/Chicago Tribune)
Walgreen Co. fourth-quarter profits were up 8 percent in the company’s fourth quarter on prescription sales but impacted somewhat by a large New York pharmacy acquisition earlier this year.
The Deerfield-based company, which operates more than 8,000 stores across the country, this morning reported profits of $470 million, or 49 cents a share in its fourth-quarter ended Aug. 31. That compares to $436 million, or 44 cents a share, in the company’s fourth quarter of last year.
The earnings report helped boost Walgreens shares up nearly 9 percent, or $2.71 a share, to $33.06 in trading this morning on the New York Stock Exchange. Get the full story »
An AirTran plane takes off. (AP Photo/Michael Dwyer, file
The proposed consolidation between Southwest and AirTran could lead to higher airfares at Midway Airport, especially to vacation destinations, according to one industry analyst.
“A lot of the rock-bottom fares from Midway to Florida were often initiated by AirTran,” said Joseph Schwieterman, a transportation expert at DePaul University, Chicago.
The merger would increase the pace at which Midway is becoming what Schwieterman called “a one-airline act.” Get the full story »
Gina Boswell, president of global brands, stands in an Alberto Culver lab in 2008. (Chicago Tribune/Alex Garcia)
Consumer goods group Unilever will buy U.S. hair and skin care company Alberto Culver for $3.7 billion in the latest move to rebalance its portfolio toward higher growth lines.
The news sent Alberto Culver stock up 20 percent to $37.73, near its 52-week high of $32.08, in midday trading.
Unilever’s biggest acquisition in a decade will add brands such as V05, TRESemme and Nexxus to Unilever’s existing Dove and Sunsilk, and make it the world’s leading company in hair conditioning and the second largest in shampoo. Get the full story »
A $7 billion-asset Warrenville credit union that suffered massive losses in mortgage-backed securities was one of three critically undercapitalized institutions seized Friday by the U.S. government.
Members United Corporate Federal Credit Union was one of three “wholesale,” or “corporate,” credit unions put into conservatorship by the National Credit Union Administration. Get the full story »
Home Depot saleswoman Susan McKenzie, left, explains the appliance rebate program to customer Angel Robles of Chicago. (Antonio Perez/Chicago Tribune)
Anyone hoping to cash in on Friday’s federal stimulus money which allowed for a 15 percent discount on energy-saving appliances had to show up to stores early — very early.
The Illinois Retail Merchants Association confirmed this morning that the $3 million in federal money to support energy-efficient appliances was gone in about two hours. The group shut the program down at 10:30 a.m.
“This made Black Friday look like a Tuesday in July,” Illinois Retail Merchants Association President David F. Vite said in a statement. “Sales have never been so brisk in Illinois.” Get the full story »
