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Old October 1st, 2007, 02:14 AM   #101
The Urban Politician
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This thread is becoming a lot like downtown Chicago's skyline--a lot of Crains


British Airways orders Airbus A380s and Boeing 787s
By JANE WARDELL | AP Business Writer
8:07 AM CDT, September 27, 2007
LONDON - British Airways PLC divided its largest aircraft order in nine years between rival plane manufacturers Boeing Co. and Airbus on Thursday as the carrier moves to increase capacity on its long-haul routes.
Tribune



Sept. 28, 2007
Emerson to buy Motorola unit
(Reuters) — Diversified manufacturer Emerson Electric Co agreed to buy a Motorola Inc. unit that serves the telecommunications, medical and defense industries for $350 million in cash, the companies said on Friday.
Crains



Sep. 27, 2007

Pension fund puts money into Chicago investor's deal
By Thomas A. Corfman

(Crain’s) — A Canadian pension fund has invested $114 million in Chicago real estate investor Tim Callahan’s $770-million purchase of five top-quality downtown Denver office towers.
Crains

^ As a reminder, Tim Callahan is the former CEO of Trizec (which was bought out) who started his own real estate investment trust just a few months ago



Sept. 28, 2007
By Gregory Meyer
Big Ten Network in deal with RCN

(Crain’s) — The Big Ten Network has a deal to air its sports programming in two markets served by cable TV company RCN Corp., according to a source with knowledge of the deal.
Crains



Sept. 28, 2007
By Jon Lafayette
Big Ten Network signs deal with WideOpenWest
The Big Ten Network has signed a deal with WideOpenWest, an alternative cable provider that operates in the Midwest.
Crains



Banks Urging U.S. to Adopt the Trading of Emissions

By JAMES KANTER
Published: September 26, 2007
PARIS, Sept. 25 — A group representing some of the world’s leading banks will urge the United States and other industrial nations this week to move quickly to introduce a lightly regulated system for trading carbon emissions permits.
New York Times

^ While not mentioned in the article, this could have huge implications for the fledgling Chicago Climate Exchange



Sept. 29, 2007
By Steven R. Strahler
U of C ponders engineering school
Engineering would be a departure; a glimpse of new chief's vision

U of C President Robert Zimmer
The University of Chicago, under new President Robert Zimmer, a hard science-oriented mathematician and hard-nosed administrator, is considering launching an engineering department.
Crains



Council considers assistance for airline relocation
TIF may be provided for United's relocation from suburbs to downtown

An ordinance was introduced today into the Chicago City Council by Mayor Richard M. Daley that would provide $5.475 million in tax increment financing assistance to United Airlines for costs associated with the relocation of their corporate headquarters to downtown Chicago.
City of Chicago

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Old October 1st, 2007, 03:05 AM   #102
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NPA

Sept. 30, 2007
By David Sterrett
McD's plans huge makeover on drinks
Maps national rollout of fancy drinks by 2009; sees $1-billion sales boost

In one of its biggest strategic moves ever, McDonald's Corp. plans to sell lattes, cappuccinos and other specialty drinks in all of its 14,000 U.S. restaurants next year.
Crains



By Monée Fields-White
Chicago prices going up across the board
Fuel, energy costs push local inflation at faster clip than U.S.

Rising energy and commodity costs are pushing up prices in Chicago, increasing the cost of eating at a restaurant and renting an apartment and threatening to deliver another blow to an economy already reeling from the housing slowdown.
Crains
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Old October 2nd, 2007, 05:51 AM   #103
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Oct. 01, 2007
By Thomas A. Corfman
Downtown office vacancy rate at 5-year low
(Crain’s) — As the downtown office vacancy rate drops to its lowest level in five years, many observers are asking: How low can it go?
Crains



Nokia to buy Chicago-based Navteq for $8.1 billion
By Mike Hughlett | Tribune staff reporter
10:18 AM CDT, October 1, 2007
In a deal worth $8.1 billion, Finnish cell phone giant Nokia plans to buy Chicago-based Navteq Corp., one of the world's two major makers of digital maps.
Tribune

^ Navteq will remain an independent subsidiary of Nokia and will keep its HQ. Its CEO will get a huge payout and will also keep his job



Oct. 01, 2007
By Steve Daniels
B of A sets local community lending, charity goals
(Crain’s) — Bank of America Corp. set a goal Monday of making $7 billion a year in loans and other investments in Chicago-area low- and moderate-income neighborhoods as its $21-billion acquisition of LaSalle Bank Corp. was completed.

(an additional excerpt):

Separately, Bank of America said it would relocate its commercial real estate banking headquarters to Chicago from Atlanta. Eugene Godbold, who runs that business, will move to Chicago, the company said.
Crains



Daley weighs tax, fee hikes to close budget gap
By Gary Washburn | Tribune staff reporter
7:57 PM CDT, October 1, 2007
It's a tough time to be a Chicago taxpayer.

Even as the Board of Education plans a property tax increase, Cook County commissioners weigh a sales tax increase and a public transit bailout could mean another foray into local wallets, the Daley administration is considering increasing taxes on everything from SUVs to beer — and raising property taxes as well.
Tribune



Oct. 01, 2007
New Chicago-based hedge fund opens
(Reuters) — Pentwater Capital Management L.P., a new hedge fund headed by former Deephaven Capital trader Matthew Halbower, officially opened on Monday, saying it expects to ramp up from nearly $700 million in capital currently to as much as $1.5 billion by year-end.
Crains
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Old October 2nd, 2007, 09:00 AM   #104
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Posted Oct. 1, 2007
Financial Services
Bank of America completes $21B LaSalle purchase

Chicago will become the new headquarters for Bank of America’s commercial real estate banking division. Eugene Gobold, a 28-year company veteran, will continue as president of the business after overseeing the move from Atlanta to Chicago, the bank said.

http://www.pbn.com/stories/27658.html
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Old October 2nd, 2007, 09:01 AM   #105
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Oops...double post
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Old October 2nd, 2007, 03:27 PM   #106
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I am cautiously impressed. I didn't think Bank of America would agree to the significant community lending goals of their predecessor (LaSalle Bank). They certainly didn't look like they felt obliged to anything. And moving their commercial banking HQ TO Chicago definitely softens the blow.

I wonder how many banking jobs that brings?
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Old October 3rd, 2007, 05:15 AM   #107
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This firm will be based in both Chicago and Beijing:

First US-Chinese Financial Firm Hailed
Updated: 4:33 p.m. ET Oct 2, 2007

CHICAGO - The first U.S. financial services company to be co-owned by a Chinese firm was hailed Tuesday as an example of how the two nations can cooperate in a global economy.

At a news briefing, investors announced the creation of HuaMei Capital Company Co. Inc., with the primary aim of assisting cross-border mergers and acquisitions.
CNBC



CB&I Gets Contract for Alabama Refinery
Updated: 7:43 a.m. ET Oct 2, 2007
THE WOODLANDS, Texas - Chicago Bridge & Iron Co. said Tuesday it received a contract worth more than $160 million to help expand a refinery in Alabama.
CNBC



Map deal points to Motorola weakness
Nokia's Navteq buy a growth opportunity
By Mike Hughlett | Tribune staff reporter
October 2, 2007

(excerpt):

Navteq is one of Chicago's biggest recent technology success stories, with its sales growing fivefold between 2001 and 2006 and its stock more than tripling since the firm went public in August 2004. Navteq, which had $582 million in revenues last year, employs nearly 3,000 worldwide, including 675 in Chicago. In June, the company announced it would move from its Merchandise Mart headquarters to new digs a mile away, helped by a $5 million subsidy from the city.

In return for the incentive, Navteq pledged to add another 350 jobs over the next five years at its new home. That commitment won't change, Green said. "If anything, [hiring] will accelerate."
Tribune



New Prentice Hospital to converge women's care
By Bruce Japsen | Tribune staff reporter
October 2, 2007
Medical care for women is not just about delivering babies but providing medical care at one location for all stages of their lives -- at least that's the concept behind Northwestern Memorial HealthCare's $500 million Prentice Women's Hospital, which opens Oct. 20.
Tribune



Debunking the ethanol bust
Prices have collapsed and stock prices have plummeted, but some say these are just normal kinks in an industry with a solid future.
By Steve Hargreaves, CNNMoney.com staff writer
October 2 2007: 5:50 PM EDT

NEW YORK (CNNMoney.com) -- Recent reports of an ethanol bust may be greatly exaggerated.

Sure, the fuel has seen its price tumble in the last few months. Spot prices for a gallon of the stuff in Chicago went from about $2.30 five months ago to about $1.50 today, according to numbers from the Oil Price Information Service. In 2006, ethanol briefly sold for over $4 a gallon.

Plus the price of corn - the raw material for most ethanol produced in the U.S. - has nearly doubled since the start of 2006. This one-two punch has hit shares in ethanol companies - Verasun (Charts) has lost about half its value over the last year, as has Pacific Ethanol (Charts).

The drop in ethanol's price has been attributed to too much product on the market, the result of overeager investors pouring money into the sector and new plants springing up across the Midwest. But ethanol is unlikely to remain in oversupply for long, thanks to ongoing investments in bringing the product to market, a renewable energy bill that calls for expanding ethanol's use and a base price that's now about 50 cents less than gasoline.
CNN



Jones Lang LaSalle buys North Carolina firm
By Susan Diesenhouse | Tribune staff reporter
12:38 PM CDT, October 2, 2007
Jones Lang LaSalle Inc., boosting its already burgeoning business in North Carolina, has acquired Corporate Realty Advisors for an undisclosed price, the Chicago-based firm said Tuesday.
Tribune



Oct. 02, 2007
By Lorene Yue
Salton merger back on
(Crain’s) — Appliance maker Salton Inc. has ironed out a merger agreement with APN Holding Co. to create one of the largest publicly traded manufacturers of its kind.
Crains
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Old October 3rd, 2007, 05:19 AM   #108
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Guys, I probably won't be able to contribute to this thread again until next weekend. Peace out
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Old October 3rd, 2007, 04:49 PM   #109
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I'm sure some of us will carry the torch until you return TUP
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Old October 9th, 2007, 06:18 AM   #110
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Hospital boom
'$800 MIL. IS NOTHING' | Compared with what hospitals spend on other costs, new buildings are cheap -- but are they worth it?

October 8, 2007
BY JIM RITTER Health Reporter/[email protected]
When the new $507 million Prentice Women's Hospital opens Oct. 20 at 250 E. Superior, it will mark the latest chapter in Chicago's $5 billion hospital building boom.

Every major Chicago medical center has either opened, is building or is planning to build a huge new hospital.
Sun Times



Oct. 05, 2007
CME's Globex system hits billion-contract mark
(AP) — CME Group, which operates multiple options and commodities exchanges, said Friday that for the first time it traded more than one billion contracts in a single year on CME Globex, the exchange's electronic trading platform.
Crains



Oct. 07, 2007
By John Pletz
Moto building music service in India, China
But song site is a no-go in the U.S., raising red flags as Nokia builds up

Motorola Inc.'s three-year-old music service in China, MotoMusic, has been successful enough that the company is ready to export it to India. But don't look for an American version anytime soon.
Crains



Motorola gets WiMax contracts in Taiwan
By James P. Miller | Tribune staff reporter
8:18 AM CDT, October 8, 2007
Motorola Inc. disclosed late Sunday night that the telecommunications-equipment giant has received two contracts to provide a Taiwanese telecom operator with WiMax network infrastructure.
Tribune



Oct. 08, 2007
By Moneé Fields-White
Fashion Focus Chicago 2007 starts Tuesday
(Crain’s) — Fashionistas are hitting the city of Chicago this week. The city on Tuesday kicks off its Fashion Focus Chicago 2007.

The event, which runs through Oct. 14, will feature top Chicago designers and a few new faces on the local fashion scene in five runway shows, shopping tours and business seminars.
Crains



‘Deals Are Getting Done, Market is Open’ in Indiana, CBRE Says 10/5/2007
INDIANAPOLIS – The world’s largest commercial real estate firm is bullish on Indiana and nine national and regional executives from CB Richard Ellis (CBRE) spent two hours on Thursday telling 150 leading Hoosier executives and investors why.

“Indiana is uniquely positioned for growth,” said David Reed, managing director of CBRE in Indiana.

“Indianapolis is hot. It’s really hot,” said Indianapolis deputy mayor Steve Campbell, who was representing Indianapolis mayor Bart Peterson. “Indianapolis is leading all the cities in the Midwest for job creation,” he said, citing figures from the Federal Reserve Bank of Chicago and the Brookings Institute.

The jobs created represent high-wage and high-impact positions, he continued, which makes the Hoosier capital an attractive place “for people to work and live”.
Midwest Business



The Ease, Difficulty of Biotech Business Beyond Midwest, U.S. 10/8/2007
CHICAGO – Having recently returned from a biotech conference in Japan; having traveled to Canada, India and Brazil in 2007; and having attended the global BIO conference that featured delegations from 60 countries, I have remarked previously on the globality of the biotech industry.

Another conference I recently attended was the Bio Mid-America Venture Forum, which was held this year in Milwaukee. Now on its fifth year, the conference has become like a band of troubadours wandering the Midwest in search of the Holy Grail: the elusive treasure known as venture capital.
Midwest Business
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Old October 10th, 2007, 08:47 PM   #111
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Chicago Theatre to be sold to major New York producer
Chris Jones - Chicago Tribune
October 9, 2007


In a development that will inject a powerful new East Coast player into Chicago’s burgeoning downtown entertainment scene, Madison Square Garden Entertainment said Tuesday that it will purchase the iconic Chicago Theatre, 175 N. State St.

http://leisureblogs.chicagotribune.c...evelopmen.html
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Old October 10th, 2007, 10:53 PM   #112
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Quote:
Originally Posted by i_am_hydrogen View Post
Chicago Theatre to be sold to major New York producer
Chris Jones - Chicago Tribune
October 9, 2007


In a development that will inject a powerful new East Coast player into Chicago’s burgeoning downtown entertainment scene, Madison Square Garden Entertainment said Tuesday that it will purchase the iconic Chicago Theatre, 175 N. State St.

http://leisureblogs.chicagotribune.c...evelopmen.html
I think thats a great thing for Chicago's theater scene. hopefully they dont change the sign to New York
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Old October 10th, 2007, 10:53 PM   #113
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From the above article about the Uptown Theatre..ggggrrrrrrrrrr.

I hope there is more then one company that was looking into buying and renovating it. I want to say that I read there were a couple of buyers looking into it. Hopefully there will be another interested buyer who will snatch it up and renovate it soon.

Quote:
MSG Entertainment has long been rumored to have an interest in Chicago. Sources say the company considered buying the long-dormant Uptown Theatre on Chicago’s North Side, but was daunted by the distance from the Loop and the renovation needs of the building.
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Old October 11th, 2007, 01:52 AM   #114
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http://chicagobusiness.com/cgi-bin/n...10-10&id=26677

Mellon to add 50 to Chicago corporate trust office
Oct. 10, 2007


The Bank of New York Mellon said Wednesday it will add 50 employees to its global corporate trust business office in Chicago by the end of 2008.

The office currently has 150 employees.
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Old October 11th, 2007, 05:32 AM   #115
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edit: mispost
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Old October 11th, 2007, 05:46 AM   #116
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Navistar teams with BAE on major defense contract
By James P. MIller | Tribune staff reporter
1:41 PM CDT, October 9, 2007
Navistar International Corp. said Tuesday afternoon that the Warrenville truck and engine maker has teamed up with BAE Systems PLC to produce a platform for the Pentagon's planned Joint Light Tactical Vehicle program.

The Navistar/BAE venture "will also be investigating other global opportunities" with militaries around the world, Navistar said.
Tribune



Oct. 09, 2007
By Lorene Yue
Columbia College to buy publisher
(Crain’s) — Columbia College Chicago has agreed to acquire a book publisher that it has collaborated with in the past.

The Center for American Places, which has published more than 300 titles, will become a division of Columbia College on Dec. 31. Terms of the acquisition were not disclosed.
Crains



Oct. 09, 2007
By Steve Daniels
Aon wins back Sears business
(Crain’s) — Aon Corp. has won back the insurance brokerage business of Sears Holdings Corp., which had left two years ago.
Crains



Oct. 09, 2007
FedEx Home Delivery leases space in Bedford Park
By Todd J. Behme
(Crain’s) — FedEx Home Delivery leased more than 183,000 square feet in the Bedford Park Corporate Center.

FedEx is expected to begin operating at the center this month, according to a statement from Chicago-based Ridge Property Trust, a real estate investment trust.
Crains



Last updated: October 9, 2007 08:57am
DSC Logistics Leases 111,000 SF in 2M-SF Park
By Gina Kenny
CHICAGO-DSC Logistics, based in Des Plaines, is leasing 111,500 sf at 1401-1501 E. 96th St. The 254,703-sf building is part of the Calumet Business Center, a 12-building industrial park owned by Ashley Capital LLC, headquartered in New York City.
Globe Street



Reporter’s Notebook: ParkWhiz a New Kind of Garage Sale 10/9/2007
CHICAGO – Chicago start-up ParkWhiz allows users to buy and sell parking spaces online. In addition to speaking with founder Aashish Dalal, in this week’s Reporter’s Notebook we look into the latest funding from Heartland Angels, find out what local design shop is making Yahoo! a bit of green and discuss what will be presented during the return of the Monday Morning Meeting on Oct. 15.
Midwest Business

^ Tidbits about some local startups



Oct. 10, 2007
By Greg Hinz
Daley floats $260 mil.-plus in tax, fee hikes
(Crain’s) — Ouch!

Blaming bad economic times and Springfield infighting, Mayor Richard M. Daley on Wednesday rolled out more than a quarter of a billion dollars in proposed tax hikes and fee increases to balance his 2008 budget.
Crains



Chicago Bridge & Iron Gets Antitrust OK
Updated: 6:15 p.m. ET Oct 10, 2007
THE WOODLANDS, Texas - Chicago Bridge & Iron Co. said Wednesday the antitrust waiting period has expired with respect to its pending acquisition of Swiss-Swedish engineering firm Lummus Global.

The $950 million deal is expected to close in the fourth quarter of 2007, pending approval by CB&I stockholders and other customary closing conditions.
CNBC

^ I'm beginning to wonder if CB&I is even based in the Chicago area, since nothing about these deals is ever mentioned in the local media. Anyhow, assuming that it is based locally, I'll still post this news



Events spotlight local designers
Chicago’s fashion scene centers on small companies, results in unique industry
By Becky SchlikermanPrint

Although Chicago isn’t known as a major fashion hub, the local industry is thriving and standing apart from other fashion centrals such as New York City and Los Angeles, according to industry insiders.

Though some say Chicago never lost its fashion industry, others say the recent attention from events like Fashion Focus Chicago, which will be held from Oct. 9 to Oct. 14, is bringing it to the forefront.

The city organized Fashion Focus Chicago to highlight local designers and promote the industry. This year’s event features five runway shows of local designers and models in Millennium Park, shopping tours throughout the city, fashion installations and industry seminars, said Melissa Gamble, the director of Fashion Arts and Events for the Department of Cultural Affairs.

Since the inception of Fashion Focus, now in its third year, the industry has grown and the events are more prominent, Gamble said.

Fashion Focus has created opportunities for more designers to stay in Chicago, said Sandra Enimil, scholarship chair for the Chicago Fashion Foundation, an organization that supports fashion and emerging designers in Chicago. In the past, designers left Chicago when they started becoming successful, but fashion events such as Fashion Focus have created networks that encourage designers to stay.
Columbia College Chronicle
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Old October 11th, 2007, 05:53 AM   #117
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Quote:
Originally Posted by The Urban Politician View Post
^ I'm beginning to wonder if CB&I is even based in the Chicago area, since nothing about these deals is ever mentioned in the local media. Anyhow, assuming that it is based locally, I'll still post this news
^ Well, I looked it up and it turns out that CB&I is a Netherlands-based company with its administrative offices in Houston.

However, it was founded in Chicago. Nevertheless, it doesn't appear to have any ties locally so I'll stop posting news about it
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Old October 11th, 2007, 07:54 PM   #118
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http://www.chron.com/disp/story.mpl/ap/fn/5200629.html

Oct. 9, 2007, 4:43PM

Illinois Gets Support for Coal Project

By JIM SUHR AP Business Writer
© 2007 The Associated Press

— Pennsylvania sided Tuesday with Illinois' bid against Texas for an experimental, $1.5 billion power plant, figuring a victory by the Land of Lincoln could make it easier to clone the nearly emissions-free technology someday in coal-rich Pennsylvania.
An Illinois official downplayed the timing of Pennsylvania's announcement in the FutureGen sweepstakes, insisting its latest support wasn't an 11th-hour attempt to sway the competition in its favor. The site will be chosen perhaps as early as next month.



Finalist sites include Mattoon and Tuscola in eastern Illinois, and Jewett and Odessa in Texas.
FutureGen promises about 1,300 jobs during its construction and another 150 permanent jobs once it's built.

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Old October 12th, 2007, 05:59 AM   #119
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Interesting article and video:

Global Trading Domination
Posted By:Lee Brodie
Topics:Stock Market | Stock Picks
Companies:Chicago Mercantile Exchange Holdings Inc

Exchanges are locked in a battle for global trading domination this year. The New York Stock Exchange bought EuroNext, establishing the first transatlantic exchange.

Meanwhile, NASDAQ paired up with Borse Dubai to buy Nordic exchange OMX. And the Chicago Merc took over the Chicago Board of Trade to become the world's largest futures exchange.

What's driving it? The developing financial world, a surge in computer driven trading and the boom in derivatives which is currently expanding at a 20% every year.

CME Chief Executive Craig Donahue is one of the men leading this charge and he joins the panel for this conversation. Following are excerpts from what was said.
CNBC



Oct. 11, 2007
By Thomas A. Corfman
Tinley Park firm to build new HQ in suburb
Getting $13.4 million in tax credits from Blagojevich administration
(Crain’s) — The Blagojevich administration has agreed to give $13.4 million in tax credits to a Tinley Park manufacturer of networking and electrical equipment, which plans to build a new headquarters in the southwestern suburb
Crains

^ 55 new jobs to be added



Oct. 11, 2007
Luxury version of Razr2 among 9 new Motorola phones
(AP) — Motorola Inc., badly in need of hit products to spark a turnaround, announced nine new cell phone handsets Thursday to be available this quarter.
Crains



Oct. 11, 2007
By Paul Merrion
Midway privatization 'going to happen,' Daley says
(Crain’s) — Chicago is "very close" to resolving questions Southwest Airlines and other carriers raised earlier this year about the city's proposed privatization of Midway International Airport, city and airline officials say.
Crains
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Old October 12th, 2007, 07:14 PM   #120
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This firm plans to increase its workforce from 130 to 300 employees within 5 years:

Oct. 12, 2007
Firm doubling space in move to 33 W. Monroe
By Andrew Schroedter

(Crain’s) — With its workforce growing amid strong demand for its technology services, Chicago-based System Development Integration Inc. will double its office space by moving its headquarters to a high-rise at 33 W. Monroe St.
Crains
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