CBOE Holdings Inc. Chief Executive Officer William Brodsky, who steered the operator of the biggest U.S. options market through an initial public offering last June, received a giant pay boost for his efforts. Get the full story »
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New York may restrict Happy Meals, kids meals
A child eating fries from a McDonald's Happy Meal at Navy Pier, July 7, 2010. (William DeShazer/Chicago Tribune)
A New York City councilman is planning to introduce legislation to ban McDonald’s fast food meals unless they meet certain nutritional standards.
Councilman Leroy Comrie of Queens plans to announce the legislation at a press event at 11 a.m. CST, according to his chief of staff. The proposed bill would make it illegal to distribute toys, games, trading cards or admission tickets along with any meal for children unless they have less than 500 calories, 600 mg of sodium and 35 percent of calories from fat, excluding nuts, seeds and nut butters. Get the full story »
Walgreens, Chase, TiVo warn of email breach
A data breach at one of the world’s largest providers of marketing-email services may have enabled unauthorized people to access the names and email addresses for customers of major financial-services, retailing and other companies.
While no financial information was compromised, the major concern is that the emails and names could be used for “phishing,” that is, phony emails asking unsuspecting consumers to divulge information such as account numbers, log-ins or Social Security numbers. Get the full story »
Study: Abbott heart-valve device safe, effective
Abbott's MitraClip. (Abbott)
Abbott Laboratories’ experimental device to repair leaky heart valves continues to show promise in patients two years after they have been treated, new research published in the New England Journal of Medicine today shows.
The MitraClip device, which is currently being review by the U.S. Food and Drug Administration for possible approval, is considered an important development for heart patients with mitral regurgitation because serious cases require open-heart surgery to repair their valves. It could be on the U.S. market by the end of this year. Get the full story »
March auto sales gains riding in small cars
Most major automakers raced past expectations for U.S. sales in March as buyers flocked to smaller, more fuel-efficient cars in response to rising gasoline prices at the pump. Get the full story »
Fed reveals which banks borrowed during crisis
Foreign banks, regional U.S. banks, and banks fighting for their last chance at survival counted among the heaviest users of the Federal Reserve’s emergency discount lending window during the heat of the 2008 financial crisis. Get the full story »
Court ruling threatens McCormick Place overhaul
In this photo from April 7, 2010, McCormick Place union representatives, including John T. Coli of the Teamsters, far right, testify in front of the Joint Committee on the Metropolitan Pier & Exposition Authority. (Nancy Stone/Chicago Tribune)
The state-mandated overhaul of McCormick Place operations hit a legal wall Thursday, as two major labor unions won a federal court judgment that the National Labor Relations Act preempts states from enacting legislation that would interfere with the collective bargaining process.
U.S. District Court Judge Ronald Guzman’s ruling in parallel cases brought by Teamsters Local 727 and by the Chicago Regional Council of Carpenters has the potential to throw a major wrench into the revamped show-floor rules. The new rules give exhibitors the right to do much of their own booth set-up and tear-down work. Get the full story »
Lightbank invests in San Francisco startup Qwiki
Lightbank, the Chicago investment firm run by Groupon backers Eric Lefkofsky and Brad Keywell, has invested $1 million in Qwiki, a San Francisco, Calif.-based startup. Get the full story »
Ally, former GM finance arm, files for IPO
Ally Financial filed Thursday for an initial public offering that will allow the U.S. government to sell down its majority stake in the bailed-out auto and mortgage lender. Get the full story »
Illinois paces decline in latest initial jobless claims
The number of U.S. workers filing new claims for unemployment benefits fell slightly last week, indicating the jobs market continues to gradually recover. Get the full story »
Kraft CEO’s pay falls 27% in 2010 on unmet goals
Kraft CEO Irene Rosenfeld speaks at a town hall meeting at Kraft's headquarters in Northfield, Feb. 5, 2010. (William DeShazer/Chicago Tribune)
Efforts at Kraft Foods to more closely align executive compensation with company performance took a large bite out of Chief Executive Irene Rosenfeld’s 2010 pay package, the company disclosed Thursday in its annual proxy statement.
Rosenfeld’s overall compensation fell almost 27 percent, to $19.3 million, from $26.3 million in 2008, according to documents filed with the Securities and Exchange Commission. Get the full story »
Boeing received banned U.S. subsidies: WTO
Guests exit a Boeing 787 Dreamliner aircraft at the Farnborough Airshow, Hampshire, July 18, 2010. (Ben Stansall/AFP/Getty Images)
Boeing Co. benefited from $5.3 billion in prohibited state and federal government subsidies, a panel of World Trade Organization judges determined in a report issued Thursday.
But the total amount that will need to be remedied by the U.S. in the trade case is about half that: $2.7 billion, since the U.S. government has already stopped providing Chicago-based Boeing billions of dollars in export-related tax breaks judged to be illegal by the WTO, U.S. officials said. Get the full story »
CPSC: Not safe to walk on water in balls
A child using a water ball. (Image via uswaterball.com)
The government warned consumers Thursday that water walking balls, a recreational activity that has gained popularity in recent years, is unsafe and could lead to suffocation or drowning.
The Consumer Product Safety Commission said it is “urging consumers to stop participating” in the activity adding that the commission “does not know of any safe way to use this product.” Get the full story »
Berkshire’s Sokol quits after stock purchases in takeover target
Former Berkshire Hathaway executive David Sokol, pictured here in 2009, said he did nothing wrong in buying stock in a company that he then suggested Berkshire acquire. (Reuters/Lucas Jackson)
The man widely seen as the leading successor to Warren Buffett at Berkshire Hathaway has resigned after buying shares in chemical company Lubrizol Corp before pushing Buffett to acquire it.
David Sokol’s resignation is a reputational blow for Buffett, the 80-year-old “Oracle of Omaha,” who prides himself on his folksy fair-dealing image and handpicks managers who can run businesses in a similarly transparent manner. Get the full story »
Want a vacation home? Prices are falling
Been dreaming of a vacation home? Somewhere warm to get away? Or maybe a cabin in the woods? Prices are right if you can afford it. Get the full story »
