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Chicago Tribune Business News
Jul 17, 2018

Papa John's founder: Stepping down as chairman a 'mistake'
Papa John's founder John Schnatter says the pizza chain doesn't know how to handle a "crisis based on misinformation" and that he made a "mistake" in agreeing to step down as chairman.

Schnatter says the board requested that he step down as chairman without "any investigation" and he should not...



Chicago Tribune Business News
Jul 17, 2018

MGM sues Las Vegas massacre victims in hopes of limiting liability
MGM Resorts International sued the victims of a Las Vegas music festival mass shooting in an effort to block any potential compensation claims against it.

The owner of the Mandalay Bay hotel claims a 2002 federal statute wipes out liability for any company that adopts "anti-terrorism technology,''...



Chicago Tribune Business News
Jul 17, 2018

MGM Resorts International sues more than 1,000 victims from Las Vegas mass shooting, denying any liability
MGM Resorts International claimed in a new lawsuit that it has no liability in any of the injuries or deaths in the October mass shooting in Las Vegas.

The company, which owns Mandalay Bay and the Route 91 Harvest festival venue, argued that its security vendor took all necessary precautions, approved...



Chicago Tribune Business News
Jul 17, 2018

Elon Musk's attack on organizer of Thailand cave rescue rattles investors: 'What is he doing?'
Four days after Tesla's fourth-largest shareholder urged "a time of quiet and peace," chief executive Elon Musk lobbed one of his nastiest stink bombs yet: an accusation about an organizer of the Thailand cave rescue that investors say is a major distraction from his mission running the embattled...



Chicago Tribune Business News
Jul 17, 2018

Amazon hopes Prime Day glitches don't turn away customers
Amazon is hoping customers don't see any more dogs, after early problems on Prime Day meant people trying to shop got only images of the cute canines delivering an apologetic message.

Amazon's website ran into some early snags Monday on its much-hyped Prime Day, an embarrassment for the tech company...



Chicago Tribune Business News
Jul 16, 2018

CVS fires 2 Edgewater store employees after white manager calls cops on black customer


CVS has fired two employees at a store in the Edgewater neighborhood who called the police on a black female customer Saturday after she attempted to use a coupon.

"We have completed our investigation, and as a result the two colleagues who were involved are no longer employed by CVS Health," Mike...



Chicago Tribune Business News
Jul 16, 2018

Amazon's Prime Day runs into snags swiftly
Amazon's website ran into some snags quickly Monday on its much-hyped Prime Day, an embarrassment for the tech company on the shopping holiday it created.

Shoppers clicking on many Prime Day links got only an abashed-looking dog with the words, "Uh-oh. Something went wrong on our end." Many took...



Chicago Tribune Business News
Jul 16, 2018

FCC chair's 'serious concerns' over WGN sale puts Sinclair-Tribune Media merger in jeopardy
Sinclair Broadcast Group's proposed $3.9 billion purchase of Chicago's Tribune Media may be in jeopardy after Federal Communications Commission Ajit Pai issued statement Monday expressing "serious concerns" about the deal.

"The evidence we've received suggests that certain station divestitures...



Chicago Tribune Business News
Jul 16, 2018

Sinclair-Tribune Media merger in jeopardy after FCC chair expresses 'serious concerns' over sale of WGN, other stations
Federal Communications Commission Chairman Ajit Pai issued a statement Monday expressing "serious concerns" about the proposed merger of Sinclair Broadcast Group and Chicago's Tribune Media, putting the $3.9 billion deal in jeopardy.

"The evidence we've received suggests that certain station divestitures...



Chicago Tribune Business News
Jul 16, 2018

Sinclair-Tribune Media merger in jeopardy after FCC chair expresses 'serious concerns'
Federal Communications Commission Chairman Ajit Pai issued a statement Monday expressing "serious concerns" about the proposed merger of Sinclair Broadcast Group and Chicago's Tribune Media, putting the $3.9 billion deal in jeopardy.

"The evidence we've received suggests that certain station divestitures...



Chicago Tribune Business News
Jul 16, 2018

Prime time: A day of deals at Amazon, and at its rivals
Amazon is extending its annual "Prime Day" promotion to 36 hours this year and will try to lure more deal-seekers to the aisles of Whole Foods. Shoppers will have plenty of sales to choose from as other retailers offer promotions to try to take a share of the spending.

This year's sales event,...



Chicago Tribune Business News
Jul 16, 2018

CEO says new job-matching platform aims to help workers who are stretched financially
Moonrise, a Chicago-based job-matching platform that launched in January, helps people find temporary work when they need to make a few extra bucks.

The startup, which operates out of a loft in the West Town neighborhood, is a wholly owned subsidiary of Madison, Wis.-based American Family Insurance,...



Chicago Tribune Business News
Jul 13, 2018

Chicago's last Sears closes for good
Mike Lord remembers treating the Sears at Six Corners as a neighborhood hangout when he was a kid.

When his parents pushed to turn off the TV and get outside, he would sneak over to the store's TV department to watch Cubs games.

"It was my babysitter when I couldn't get friends together to play...



Chicago Tribune Business News
Jul 13, 2018

Chicago's last Sears to close for good Sunday
Mike Lord remembers treating the Sears at Six Corners as a neighborhood hangout when he was a kid.

When his parents pushed to turn off the TV and get outside, he would sneak over to the store's TV department to watch Cubs games.

"It was my babysitter when I couldn't get friends together to play...



Chicago Tribune Business News
Jul 13, 2018

Gogo lays off 55 as it seeks to turn around struggling in-flight Wi-Fi business
In-flight internet company Gogo laid off 55 employees this week as part of the Chicago-based company's plan to "drastically change" its business model.

Gogo employed about 1,200 people before the layoffs. The cuts, mostly in Chicago, come in Gogo's commercial airline division as the company continues...



Chicago Tribune Business News
Jul 13, 2018

Foodborne parasite sickens 100 in Illinois; some cases linked to McDonald's salads
An outbreak of an intestinal illness that in some cases has been linked to McDonald's salads has sickened 100 people in Illinois, officials with the Illinois Department of Public Health said Friday.

About one-fourth of those who contracted cyclosporiasis reported eating McDonald's salads before...



Chicago Tribune Business News
Jul 13, 2018

Outbreak of foodborne illness sickens 100 in Illinois; some cases linked to McDonald's salads
An outbreak of an intestinal illness that in some cases has been linked to McDonald's salads has sickened 100 people in Illinois, officials with the Illinois Department of Public Health said Friday.

About one-fourth of those who contracted cyclosporiasis reported eating McDonald's salads before...



Chicago Tribune Business News
Jul 13, 2018

McDonald's Plaza in Oak Brook to be demolished, redeveloped under buyer's plan
Developer Hines has a deal to buy and demolish a McDonald's office building near the Oakbrook Center mall, with plans to construct several towers on the site.

The preliminary agreement for McDonald's Plaza, which is contingent on Hines receiving zoning approval, comes about a month after McDonald's...



Chicago Tribune Business News
Jul 13, 2018

In exodus from Fulton Market, surviving meatpackers scatter and adapt
Blood-soaked smocks have moved on from Chicago's Fulton Market district, replaced by the white tablecloths of hip restaurants and the white collars of office workers.

Soaring property values have been good for many longtime meatpackers, who have cashed out for millions of dollars and relocated...



Chicago Tribune Business News
Jul 12, 2018

Former John Hancock Center is getting a new owner: Sterling Bay
The building formerly known as the John Hancock Center is also getting a new owner: Sterling Bay.

The Chicago developer has a more than $300 million deal to buy the office and parking portions of the 100-story skyscraper at 875 N. Michigan Ave., according to people familiar with the deal.

The exact...



Chicago Tribune Business News
Jul 12, 2018

Outbreak of foodborne illness sickens 90 in Illinois; some cases linked to McDonald's salads
An outbreak of an intestinal illness that in some cases has been linked to McDonald's salads has sickened 90 people in Illinois, according to officials with the Illinois Department of Public Health on Thursday.

About one-fourth of those who contracted cyclosporiasis reported eating McDonald's salads...



Chicago Tribune Business News
Jul 12, 2018

Build-A-Bear offers customers vouchers after shutting down lines for 'Pay Your Age Day' promotion
Katie Nanak used Build-A-Bear Workshop's "Pay Your Age Day" promotion as a bribe all week, encouraging daughter Claire, 5, and son Teddy, 3, to go to bed on their own to earn their bear.

When the day of the sale arrived Thursday, the Logan Square family headed to the Build-A-Bear store at Oakbrook...



Chicago Tribune Business News
Jul 12, 2018

Papa John is gone, but his image is still entwined with pizza chain
Papa John's founder John Schnatter is no longer board chairman after using a racial slur, but his image is still part of the pizza chain's logo and he remains the company's largest shareholder.

The situation illustrates the difficulty for companies closely tied to a single person, and that Papa...



Chicago Tribune Business News
Jul 12, 2018

Coming to Englewood: Kimbal Musk's Square Roots urban farm in shipping containers
There's another Musk brother with big plans for Chicago.

Kimbal Musk, brother of Tesla founder Elon Musk, is planning on bringing his Brooklyn, N.Y.-based Square Roots urban farm to Englewood on about 3 acres of city-owned property behind Whole Foods Market at 62nd and Green streets. Square Roots...



Chicago Tribune Business News
Jul 12, 2018

Big data playing bigger role as airlines personalize service
You're settling into your window seat, bound for a summer vacation, when the flight attendant wishes you a happy birthday or commiserates about the lousy weather that delayed the last leg of your trip.

It might feel like the flight crew has been scouring your recent social media posts, but at some...



Chicago Tribune Business News
Jul 12, 2018

How does a flight attendant know your birthday? Big data playing bigger role as airlines personalize service
You're settling into your window seat, bound for a summer vacation, when the flight attendant wishes you a happy birthday or commiserates about the lousy weather that delayed the last leg of your trip.

It might feel like the flight crew has been scouring your recent social media posts, but at some...



Chicago Tribune Business News
Jul 12, 2018

Comcast to end hyperlocal site EveryBlock, agrees to send users to rival Nextdoor
Comcast is pulling the plug on EveryBlock, the Chicago-based hyperlocal news site it revived four years ago.

The website, which features blurbs about restaurant closings, building break-ins and community events, will go dark July 19, with a link steering EveryBlock users to sign up with Nextdoor,...



Chicago Tribune Business News
Jul 12, 2018

Papa John's founder resigns as chairman after reportedly the N-word
Papa John's says founder John Schnatter has resigned as chairman of the board.

The company made the announcement late Wednesday, hours after Schnatter apologized for using a racial slur during a conference call in May.

The apology comes after Forbes cited an anonymous source saying the pizza chain's...



Chicago Tribune Business News
Jul 12, 2018

Papa John's founder resigns as chairman after reportedly using the N-word
Papa John's says founder John Schnatter has resigned as chairman of the board.

The company made the announcement late Wednesday, hours after Schnatter apologized for using a racial slur during a conference call in May.

The apology comes after Forbes cited an anonymous source saying the pizza chain's...



Chicago Tribune Business News
Jul 11, 2018

Papa John's founder apologizes after reportedly using slur
Papa John's founder John Schnatter is apologizing after reportedly using a racial slur during a conference call in May.

The apology Wednesday comes after Forbes cited an anonymous source saying the pizza chain's marketing firm broke ties with the company afterward.

Forbes said Schnatter used the...



Chicago Tribune Business News
Jul 11, 2018

Sears lays off 200 more employees
Sears Holdings Corp. laid off 200 corporate employees last month, following a round of 220 job cuts earlier this year.

About 150 of the employees affected in the latest round of job cuts worked at the company's Hoffman Estates support center, Sears spokesman Howard Riefs said Wednesday in an email.

...

Chicago Tribune Business News
Jul 11, 2018

Airbnb provides bigger economic boost for white neighborhoods, study finds


Airbnb rentals help local economies by driving restaurant traffic and employment in a handful of U.S. cities, but not in predominantly black or Hispanic neighborhoods, according to a study from Purdue University.



The findings run counter to Airbnb's longtime assertion that home hosting helps "diverse"...



Chicago Tribune Business News
Jul 11, 2018

Chicago billionaire Joe Mansueto buys 49 percent stake in Fire
Morningstar Chairman Joe Mansueto has acquired a 49 percent stake in the Fire, the team announced Wednesday.

Owner Andrew Hauptman will continue as club chairman and controlling shareholder, with a 51 percent stake.

Financial details of the deal were not disclosed. In 2016, Forbes valued the team...



Chicago Tribune Business News
Jul 11, 2018

Papa John's founder reportedly used racial slur in conference call to prevent PR missteps
Papa John's International's outspoken chairman John Schnatter is facing another controversy that is battering the shares of the pizza chain he founded.

Just seven months after exiting the CEO role after making critical comments about the NFL's national-anthem dispute, Schnatter is under fire following...



Chicago Tribune Business News
Jul 11, 2018

True Food Kitchen to expand — with Oprah's help
True Food Kitchen announced Wednesday that Oprah Winfrey, the iconic television personality long tied to Chicago, is making "a significant equity investment" in the health-driven restaurant chain.

With 23 U.S. locations in 10 states, including a River North restaurant that opened in 2016, the Phoenix-based...



Chicago Tribune Business News
Jul 10, 2018

South Shore Hospital tells state it needs $3 million in funding by Aug. 1 to avoid shutdown
Losing money due to a Medicaid shortfall, South Shore Hospital sent a desperate plea to the state Tuesday, saying it needs $3 million in funding by Aug. 1 to avoid a shutdown.

The small, 106-year-old nonprofit hospital, which serves mostly Medicaid patients on Chicago's South Side, said it is falling...



Chicago Tribune Business News
Jul 10, 2018

Fresh Market closes stores, including 2 in Chicago area, as it tries to survive as 'specialty' store
The Fresh Market, an upscale grocery chain headquartered in North Carolina, announced this week it will close 15 stores nationally, including four in Illinois.

Fresh Market will close stores in Lincolnshire, Glen Ellyn, Peoria and Normal, the company said. The closings represent a significant retrenchment...



Chicago Tribune Business News
Jul 10, 2018

Almost 900 homes planned for former Harold Ickes site
Eight years after the last building was demolished in the Harold L. Ickes Homes public housing development, an ambitious plan to build almost 900 mixed-income residences on the site is moving closer to reality.

The developers leading the long-awaited project hope to begin construction by early...



Chicago Tribune Business News
Jul 10, 2018

Trump nominee Kavanaugh could usher in even more business-friendly era on Supreme Court
Brett Kavanaugh could add a powerful new voice on the Supreme Court to restrain what government agencies can do, ushering in a new era of tougher scrutiny of federal regulations loathed by businesses.

In a dozen years on the U.S. appeals court that handles most challenges to rules issued by federal...



Chicago Tribune Business News
Jul 10, 2018

Southwest Airlines will no longer serve peanuts, citing allergy concerns
Southwest Airlines has touted fares so low passengers can "fly for peanuts." But as of Aug. 1, the nuts will no longer fly.

Dallas-based Southwest cited concerns about passengers with allergies in the decision, announced Tuesday, to drop the free packets of peanuts from the in-flight snack menu.

...

Chicago Tribune Business News
Jul 10, 2018

The new way to use your airline miles: Bears tickets, fancy meals and a walk-on role in a movie
Most people save frequent flyer miles to splurge on a bucket-list trip. But some airlines are betting customers want them to be a little more creative.

Instead of swapping miles for a flight, customers at United Airlines could use them to buy or bid on experiences, like a recent auction promising...



Chicago Tribune Business News
Jul 09, 2018

Fresh Market closing 15 stores, including two in Chicago area
The Fresh Market, an upscale grocery chain headquartered in North Carolina, announced Monday it will close 15 stores nationally, including four in Illinois.

Fresh Market will close its stores in Lincolnshire, Glen Ellyn, Peoria and Normal, the company said.

Nationally, the chain is closing stores...



Chicago Tribune Business News
Jul 09, 2018

Private equity firm to buy Pillsbury and other brands for $375M, open Chicago HQ
A private equity firm plans to buy a smattering of brands, including the U.S. rights to Pillsbury baking products and the Funfetti brand, from the The J.M. Smucker Co. for $375 million, the Connecticut-based Brynwood Partners announced Monday.

To manage those brands, Brynwood intends to create...



Chicago Tribune Business News
Jul 09, 2018

Supreme Court's Janus ruling could undercut private sector unions too
A Supreme Court ruling last month that said public sector workers can't be forced to pay fees to unions they don't want to join could squeeze overall union revenue, limiting organized labor's ability to champion a variety of progressive causes that affect private sector workplaces as well, some...



Chicago Tribune Business News
Jul 09, 2018

Supreme Court's Janus ruling could undercut private-sector unions, too
A Supreme Court ruling last month that said public sector workers can't be forced to pay fees to unions they don't want to join could squeeze overall union revenue, limiting organized labor's ability to champion a variety of progressive causes that affect private sector workplaces as well, some...



Chicago Tribune Business News
Jul 09, 2018

Ofo pulls its dockless bikes from Chicago because of locking rules
Ofo said Monday that it has pulled its bikes out of Chicago as a result of locking rules which the China-based company said make it too difficult to provide service.

Chicago started a six-month pilot program on May 1 on the far South Side which allows riders to locate and unlock bikes through an...



Chicago Tribune Business News
Jul 09, 2018

Poppilu founder offers a healthier lemonade, with a boost from Kraft Heinz
Melanie Kahn says she founded Poppilu, a new lemonade brand, after experiencing a powerful craving for citrus while pregnant with her daughter, Poppy.

Poppilu is one of five brands in Kraft Heinz's new Chicago-based incubator for startups — and the only one owned by a woman. Kahn isn't bashful...



Chicago Tribune Business News
Jul 09, 2018

40-year-old mom running lemonade startup hopes kids one day think, ‘Wow, she did something pretty cool'
Melanie Kahn says she founded Poppilu, a new lemonade brand, after experiencing a powerful craving for citrus while pregnant with her daughter, Poppy.

Poppilu is one of five brands in Kraft Heinz's new Chicago-based incubator for startups — and the only one owned by a woman. Kahn isn't bashful...



Chicago Tribune Business News
Jul 09, 2018

At lemonade startup Poppilu, food industry veteran hopes to inspire her kids
Melanie Kahn says she founded Poppilu, a new lemonade brand, after experiencing a powerful craving for citrus while pregnant with her daughter, Poppy.

Poppilu is one of five brands in Kraft Heinz's new Chicago-based incubator for startups — and the only one owned by a woman. Kahn isn't bashful...



Chicago Tribune Business News
Jul 06, 2018

The Illinois town where Trump's tariffs have provided jobs, and a sigh of relief


Grab a cup of coffee with a resident of Granite City and you'll likely hear it said that the southern Illinois city was built around the local U.S. Steel plant, not the other way around.



It's the locals' way of conveying how heavily Granite City, just outside St. Louis, depends on the steel mill,...



Chicago Tribune Business News
Jul 06, 2018

Trump's tariffs revive Granite City jobs, and optimism
Grab a cup of coffee with a resident of Granite City and you'll likely hear it said that the southern Illinois city was built around the local U.S. Steel plant, not the other way around.

It's the locals' way of conveying how heavily Granite City, just outside St. Louis, depends on the steel mill,...



Chicago Tribune Business News
Jul 06, 2018

U.S.-China trade war could drive prices up and growth down
The world's two biggest economies fired the opening shots Friday in a trade war that could have wide-ranging consequences for consumers, workers, companies, investors and political leaders.

The United States slapped a 25 percent tax on $34 billion worth of Chinese imports, and China is retaliating...



Chicago Tribune Business News
Jul 06, 2018

U.S. added 213,000 jobs in June; unemployment rose to 4 percent
U.S. employers kept up a brisk hiring pace in June by adding 213,000 jobs in a sign of confidence despite the start of a trade war with China.The Labor Department said Friday that the unemployment rate rose to 4.0 percent from 3.8 percent as more people began looking for work and not all of them...



Chicago Tribune Business News
Jul 05, 2018

Architecture tours lead the way in bringing visitors to increasingly congested Chicago River
New Jersey resident Bob Sickles took Wendella's nighttime architecture boat tour down the Chicago River with his wife last year to see the work of Ludwig Mies van der Rohe, among other architects, tower above the green water.

They came back on a muggy Thursday afternoon this summer for a refresher....



Chicago Tribune Business News
Jul 05, 2018

Architecture tours lead the way in bringing visitors to increasingly crowded Chicago River
New Jersey resident Bob Sickles took Wendella's nighttime architecture boat tour down the Chicago River with his wife last year to see the work of Ludwig Mies van der Rohe, among other architects, tower above the green water.

They came back on a muggy Thursday afternoon this summer for a refresher....



Chicago Tribune Business News
Jul 05, 2018

Dozens of tours, hundreds of employees, thousands of tourist: Architecture boat tours are a booming business
New Jersey resident Bob Sickles took Wendella's nighttime architecture boat tour down the Chicago River with his wife last year to see the work of Ludwig Mies van der Rohe, among other architects, tower above the green water.

They came back on a muggy Thursday afternoon this summer for a refresher....



Chicago Tribune Business News
Jul 05, 2018

Companies in need of data scientists look to standardized test for hiring help
Data analytics is becoming more vital for businesses, and data scientists are in high demand. But the emerging field is broad, and some companies say they have struggled to find job candidates whose skills fit their needs.

To better define the tools their employees need to properly analyze big...



Chicago Tribune Business News
Jul 05, 2018

Want a job in data science? You might have to take a standardized test when applying
Data analytics is becoming more vital for businesses, and data scientists are in high demand. But the emerging field is broad, and some companies say they have struggled to find job candidates whose skills fit their needs.

To better define the tools their employees need to properly analyze big...



Chicago Tribune Business News
Jul 05, 2018

Office napping climbs out from under the desk and into high-tech pods
Sleeping on the job has long been frowned upon, but office napping may finally be climbing out from under the desk.

A small but growing number of businesses are encouraging sleep-deprived employees to grab 40 winks during the workday, providing rooms — or, in some cases, high-tech napping pods...



Chicago Tribune Business News
Jul 03, 2018

Chicago-based dry-cleaning startup Pressbox acquired by Procter & Gamble
Chicago-based dry-cleaning startup Pressbox is being acquired by consumer goods giant Procter & Gamble, the companies announced Tuesday.

Pressbox, launched in 2013 by University of Notre Dame graduates Vijen Patel and Drew McKenna, allows customers to drop off their dirty laundry at any time in...



Chicago Tribune Business News
Jul 02, 2018

Rough week for Illinois businesses as more tariffs loom
A workweek shortened by the July Fourth holiday may seem much longer to Illinois manufacturers and farmers, as products ranging from ketchup to soybeans are hit by tariffs.

On Sunday, Canada began imposing tariffs on about $12.6 billion of U.S. goods. On Thursday, Mexico is expected to increase...



Chicago Tribune Business News
Jul 02, 2018

Lincoln Towing should keep its license, ICC judge says
An Illinois Commerce Commission judge has recommended Lincoln Towing Service keep its state license despite alleged violations.

Evidence in the contentious hearing process supported a finding that Lincoln "is fit, willing and able to provide relocation towing service," according to a proposed order...



Chicago Tribune Business News
Jul 02, 2018

Lyft buys company behind Divvy, joining bike-rental business
Ride-hailing company Lyft said it's purchasing Motivate, the operator of Chicago's Divvy, Citi Bike in New York City and other bike-rental programs in major U.S. cities.

Lyft didn't disclose terms of the deal. Discussions had centered around a price tag of $250 million as recently as June.

The...



Chicago Tribune Business News
Jul 02, 2018

In waging trade war, Trump must figure out who the enemy even is
In imposing sweeping tariffs, President Donald Trump is betting he can give domestic companies a boost while beating back foreign competitors. The problem is figuring out which one is which.

Decades of ever-freer trade and cross-border mergers have led to the domination of many industries by a...



Chicago Tribune Business News
Jul 02, 2018

For restaurants, tracking food waste, costs 'could be the difference between succeeding and going out of business'
There's an old joke about the restaurant industry that illustrates how hard it is to make a buck: How do you make a million dollars owning a restaurant? Start with $2 million.

Faced with razor-thin profit margins, restaurant owners need a system to cut down on food waste and help remedy other common...



Chicago Tribune Business News
Jul 01, 2018

Canada begins imposing tariffs on U.S. goods from ketchup to lawn mowers
Canada began imposing tariffs Sunday on $12.6 billion in U.S. goods as retaliation for the Trump administration's new taxes on steel and aluminum imported to the United States.

Some U.S. products, mostly steel and iron, face 25 percent tariffs, the same penalty the United States slapped on imported...



Chicago Tribune Business News
Jun 29, 2018

Case over home health care workers' union fees must be reconsidered, Supreme Court says
As many as 80,000 Illinois home health care workers will get a second shot at recovering $32 million in union fees, following the U.S. Supreme Court's landmark decision earlier this week in a case over payments to unions.

The Supreme Court on Thursday ordered the U.S. 7th Circuit Court of Appeals...



Chicago Tribune Business News
Jun 29, 2018

PillPack founders, 32 and 35, to get $100 million each in Amazon deal
The two co-founders of PillPack are set to get about $100 million each in the startup pharmacy's sale to Amazon.com.

TJ Parker, a second-generation pharmacist and the company's chief executive officer, and Elliot Cohen, a computer scientist and the chief technology officer, each own roughly 10...



Chicago Tribune Business News
Jun 29, 2018

Chicago billionaire completes $255 million purchase of Wrigley Building
The $255 million sale of the Wrigley Building has been completed, wrapping up a wildly successful investment for the sellers and leaving the North Michigan Avenue landmark in the hands of Chicago billionaire Joe Mansueto.

Mansueto and the seller, a group led by Byron Trott's BDT Capital Partners,...



Chicago Tribune Business News
Jun 29, 2018

Chicago's minimum wage is about to jump to $12 per hour. Who are the winners and the losers?
As Chicago's minimum wage jumps to $12 per hour Sunday, from $11, restaurant owner Laura Gutierrez Ramos is marking the milestone with a shrug.

Gutierrez Ramos, whose family has run the Nuevo Leon restaurant for 40 years, said the wage hike was tough to absorb when it first kicked in three years...



Chicago Tribune Business News
Jun 29, 2018

Uber's electric, dockless bikes coming to South Side
Uber users in Chicago will see a new menu option starting Monday: bikes.

The ride-share giant is launching its dockless electric bike-share service, Jump, as part of a six-month program Chicago is piloting on the South Side.

The red, chunky Jump electric bikes, which will be available beginning...



Chicago Tribune Business News
Jun 28, 2018

Walgreens' value falls by $6 billion as Amazon shoulders its way into the pharmacy sector
Walgreens' shares plummeted Thursday following news that Amazon is shouldering its way into the pharmacy business, a development that capped off an eventful few weeks for the Deerfield-based chain.

Earlier this month, it announced plans to relocate 1,800 employees to Chicago's former main post...



Chicago Tribune Business News
Jun 28, 2018

In Wisconsin visit, Trump praises Foxconn factory and again warns Harley-Davidson
President Donald Trump on Thursday said his demands for "fair and reciprocal trade" are a response to past policies that have allowed other countries to take advantage of the United States.

Trump spoke after turning over dirt at a groundbreaking ceremony for Foxconn Technology Group's planned $10...



Chicago Tribune Business News
Jun 28, 2018

Walgreens stock plummets as Amazon shoulders its way into the pharmacy sector
Walgreens' shares dove Thursday morning following news that Amazon is shouldering its way into the pharmacy business, a development that capped off an eventful few weeks for the Deerfield-based chain.

Earlier this month, it announced plans to relocate 1,800 employees to Chicago's former main post...



Chicago Tribune Business News
Jun 28, 2018

Trump's Wisconsin visit for Foxconn groundbreaking 'a little schizophrenic' following Harley dispute
President Donald Trump's visit to southeastern Wisconsin on Thursday to attend a groundbreaking ceremony for Foxconn Technology Group's planned factory highlights how his trade policies are playing out in the real world.

Trump has touted the proposed $10 billion liquid crystal display manufacturing...



Chicago Tribune Business News
Jun 28, 2018

JP Morgan Chase helps fund new community college targeting Chicago's Latino community
JPMorgan Chase is helping to bankroll a new two-year college to prepare low-income Chicagoans for jobs in nursing and other high-demand fields.

Instituto College, to open this fall, is being developed by Instituto del Progreso Latino, a nonprofit community organization that provides workforce development...



Chicago Tribune Business News
Jun 28, 2018

Unions brace for loss of members and fees in wake of Supreme Court ruling
Some of the nation's largest and most powerful unions are bracing for an exodus of members and a substantial financial hit after a Supreme Court decision that threatens their ability to collect fees, a ruling expected to severely diminish organized labor's political strength and undermine its capacity...



Chicago Tribune Business News
Jun 27, 2018

Conagra's $10.9 billion acquisition of Pinnacle to create frozen food juggernaut
Hungry Man, meet Marie Callender. In a highly anticipated union in the frozen food aisle, Conagra Brands announced Wednesday that it will buy Pinnacle Foods for $10.9 billion in cash and debt, forming a frozen food powerhouse.

The plan to combine Chicago-based Conagra, known for frozen foods like...



Chicago Tribune Business News
Jun 27, 2018

Coast Guard warns of illegal charter boats in Chicago: 'They're taking your money, and they might also take your life'
Just like a tourist visiting Chicago might scroll through Airbnb to find a place to stay, travelers are increasingly using websites and apps to rent boats along the Chicago River and the lakefront for bachelorette parties, birthdays and other special occasions.

But the majority of boats advertised...



Chicago Tribune Business News
Jun 27, 2018

Coast Guard warns of illegal charter boats: 'They're taking your money, and they might also take your life'
Just like a tourist visiting Chicago might scroll through Airbnb to find a place to stay, travelers are increasingly using websites and apps to rent boats along the Chicago River and the lakefront for bachelorette parties, birthdays and other special occasions.

But the majority of boats advertised...



Chicago Tribune Business News
Jun 27, 2018

Conagra's $10.9 billion acquisition of Pinnacle Foods creates frozen-food juggernaut
Hungry Man, meet Marie Callender. In a highly anticipated union in the frozen food aisle, Conagra Brands announced Wednesday that it will buy Pinnacle Foods for $10.9 billion in cash and debt, forming a food powerhouse.

The plan to combine Chicago-based Conagra, known for frozen foods like Marie...



Chicago Tribune Business News
Jun 27, 2018

Conagra's $10.9 billion acquisition of Pinnacle Foods creates juggernaut
Hungry Man, meet Marie Callender. In a highly anticipated union in the frozen food aisle, Conagra Brands announced Wednesday that it will buy Pinnacle Foods for $10.9 billion in cash and debt, forming a food powerhouse.

The plan to combine Chicago-based Conagra, known for frozen foods like Marie...



Chicago Tribune Business News
Jun 27, 2018

U.S. Supreme Court gives Rauner major victory over labor, in ruling that could undercut public worker unions nationwide
Gov. Bruce Rauner on Wednesday notched a major victory in a battle with organized labor when the U.S. Supreme Court issued an opinion that could undercut public employee unions nationwide.

In a case with roots in Rauner's first weeks in office, the court ruled that public workers shouldn't have...



Chicago Tribune Business News
Jun 27, 2018

Conagra Brands to acquire Pinnacle Foods for $10.9 billion
Conagra Brands announced Wednesday that it will acquire Pinnacle Foods for $10.9 billion in cash and debt, forming a powerhouse company in the challenging frozen food category.

Chicago-based Conagra, known for brands like Marie Callender's, Healthy Choice and Banquet in the frozen food aisles,...



Chicago Tribune Business News
Jun 26, 2018

5 Rabbit plans brewery and restaurant in Pilsen
Latin-themed beer-maker 5 Rabbit Cerveceria plans to open a small-batch brewery and restaurant early next year in a two-building loft office development in Pilsen, a neighborhood where increased investment is sparking concerns about gentrification.

The 7-year-old brewery has leased 12,000 square...



Chicago Tribune Business News
Jun 26, 2018

Trump accuses Harley-Davidson of waving 'white flag' for moving work overseas because of tariffs
Harley-Davidson, a motorcycle maker that President Donald Trump praised last year for "building things in America," said Monday that it was shifting some production out of the United States to escape European tariffs that had been imposed in retaliation for the president's tariffs on steel and...

Chicago Tribune Business News
Jun 26, 2018

As crushing student debt keeps young people from saving, employers are stepping up to ease the squeeze
At 26, Rariety Monford worries far less about saving for retirement than paying down her $60,000 in student loan debt. So her employer has decided to do the saving for her.

Abbott Laboratories on Tuesday is announcing a new perk designed to ease the financial squeeze facing employees like Monford...



Chicago Tribune Business News
Jun 25, 2018

Trump says he's 'surprised' Harley-Davidson is moving work overseas after tariffs take effect
Harley-Davidson, a motorcycle maker that President Donald Trump praised last year for "building things in America," said Monday that it was shifting some production out of the United States to escape European tariffs that had been imposed in retaliation for the president's tariffs on steel and...

Chicago Tribune Business News
Jun 25, 2018

Union Station's redevelopment could start by spring, adding amenities for 37 million annual passengers
A more than $1 billion redevelopment of Union Station could begin as soon as next spring, starting with a seven-story glass-and-steel addition on top of its main building.

More than a year after they were chosen by property owner Amtrak to reconfigure and build onto the massive rail station, Chicago-based...



Chicago Tribune Business News
Jun 25, 2018

Uncertainty remains over Illinois Obamacare premiums as other states reveal rate proposals
Illinois residents who buy health insurance on the state's Obamacare exchange are unlikely to find out until later this summer how much more they might pay in 2019, but consumers in some other states are facing double-digit increases.

Premiums are set to increase by an average of 15 percent for...



Chicago Tribune Business News
Jun 25, 2018

As some states see double-digit hikes, uncertainty remains over Illinois Obamacare premiums
Illinois residents who buy health insurance on the state's Obamacare exchange are unlikely to find out until later this summer how much more they might pay in 2019, but consumers in some other states are facing double-digit increases.

Premiums are set to increase by an average of 15 percent for...



Chicago Tribune Business News
Jun 25, 2018

EU tariffs force Harley-Davidson to shift some production overseas
Harley-Davidson, up against spiraling costs from tariffs, will begin to shift the production of motorcycles headed for Europe from the U.S. to factories overseas.

The European Union on Friday began rolling out tariffs on American imports like bourbon, peanut butter and orange juice. The EU tariffs...



Chicago Tribune Business News
Jun 25, 2018

Citadel Center to get two-level event space
Meeting and event space provider Convene has leased a two-level space in the Citadel Center, an office tower undergoing a $100 million-plus upgrade.

Convene has signed a 15-year lease for 50,000 square feet in the 37-story building at 131 S. Dearborn St., the company said. The space previously...



Chicago Tribune Business News
Jun 25, 2018

Harley-Davidson, stung by tariffs, shifts some production overseas
Harley-Davidson, up against spiraling costs from tariffs, will begin to shift the production of motorcycles headed for Europe from the U.S. to factories overseas.

The European Union on Friday began rolling out tariffs on American imports like bourbon, peanut butter and orange juice. The EU tariffs...



Chicago Tribune Business News
Jun 25, 2018

Supreme Court to rule on public-sector union fees in Janus vs. AFSCME case
Barring extraordinary circumstances, the U.S. Supreme Court is expected to rule on public employee unions in the Janus vs. AFSCME case this week, which is the final week of the court's current term.

The court issued opinions in four cases on Friday, but Janus vs. AFSCME was not among them.

The...



Chicago Tribune Business News
Jun 25, 2018

New Great Wolf Resorts CEO aims for rapid growth
Murray Hennessy, the new CEO of River North-based Great Wolf Resorts, opened his company's 17th location in Gurnee last week.

Great Wolf spent $60 million sprucing up the property, which used to operate as Key Lime Cove, adding shops, indoor activities and restaurants.

In addition to the Gurnee...



Chicago Tribune Business News
Jun 22, 2018

Emanuel proposes expansion of transit-oriented development to bus routes
Mayor Rahm Emanuel is proposing an expansion of the city's transit-oriented development policy to include real estate projects along the city's busiest bus routes, in a move he said would boost development and create more affordable housing.

Since Chicago expanded the city's transit-oriented development...



Chicago Tribune Business News
Jun 22, 2018

More doctors embrace membership fees, shunning health insurance
After a billing miscommunication with their health insurance company, David and Danielle Coupe suddenly found themselves uninsured in mid-2016.

But the Palatine couple didn't panic. They began searching for alternatives. Soon, they found Dr. Jill Green's Bannockburn practice, MedLogic, which charges...



Chicago Tribune Business News
Jun 22, 2018

Dylan's Candy Bar leaving Tribune Tower, expected to reopen nearby
The Tribune Tower redevelopment is creating a potentially sweet deal for a new North Michigan Avenue landlord, which is in talks to land a huge candy store that is being displaced from the landmark building.

Dylan's Candy Bar is considering a deal to move its Tribune Tower store across the street...



Chicago Tribune Business News
Jun 22, 2018

19 million letters a day! How old main post office used to work
With Walgreens signing on to rent 200,000 square feet in the old main post office the massive building that straddles Congress Parkway appears poised to get a new life. "Popular Science" magazine diagrammed how it used to work in its August 1931 issue.

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