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Old September 18th, 2007, 03:50 AM   #81
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Last updated: September 17, 2007 09:01am
C&R Takes Last Full Floor at 500 N. Michigan
By Gina Kenny

CHICAGO-C&R Research Services, a marketing research firm, has signed a lease for 48,861 sf and will occupy the entire 11th floor at 500 N. Michigan Ave. The firm had previously leased 34,661 sf, making the expansion an increase of 40% more space. The term of the lease is coterminous with the firm’s lease that was renewed for a 15-year term in 2005, says Robert Sevim, corporate managing director with Studley.
Globe Street



Sep. 17, 2007
Architecture firm more than doubles space in move
By Andrew Schroedter
(Crain’s) — Architecture firm RTKL Associates Inc. is more than doubling the size of its Chicago office, to 26,100 square feet, as part of a move to the former Borg-Warner building on South Michigan Avenue.
Crains



Sept. 17, 2007
USG forms joint venture with Chinese firm
(Reuters) — USG Corp. said it entered into a joint venture with a Chinese building materials firm to manufacture a complete line of acoustical ceiling tiles and grid systems in China and expand its presence in that market.
Crains



Sept. 17, 2007
Nanosphere test wins FDA approval
(AP) — A genetic test that can reveal what patients are especially sensitive to the blood-thinner warfarin won federal approval Monday. Such screenings could prevent thousands of complications each year, health officials estimate.

The approval of the test, made by Nanosphere Inc. of Northbrook.....
Crains



NetGain Technologies in Lockport, Ill. Creates Hybrid Conversion Technology 9/17/2007
LOCKPORT, Ill. – In today’s Midwest Minute, we look at new hybrid conversion kits from Lockport, Ill.-based NetGain Technologies.

NetGain has created plug-in conversion kits for trucks that can improve the fuel efficiency of a standard truck by 20 percent to 30 percent, the company says. While that percentage seems large, NetGain says the improvement isn’t too considerable since trucks often only get six to seven miles per gallon.
Midwest Business



More than just jobs
EPA lab lured Toyota here; technical talent, suppliers kept it
By Brent Snavely

3:01 am, September 17, 2007
The expansion of Toyota Technical Center USA Inc. near Ann Arbor is important to Michigan's economy not only for the jobs it creates, but because it strengthens the state's position as a global hub of automotive engineering and innovation.
Crains Detroit
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Old September 18th, 2007, 04:50 AM   #82
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CME to List Options on Ethanol Futures
Updated: 3:55 p.m. ET Sept 17, 2007
CHICAGO - CME Group, operator of the Chicago Mercantile Exchange, said Monday it will list options on ethanol futures and offer clearing services for cash-settled options and options on forward month swaps.

The options are slated to begin trading on e-cbot Oct. 5 and on the CME Globex platform in January.
CNBC
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Old September 18th, 2007, 03:22 PM   #83
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New site sweetens candy show
McCormick Place's West Building draws raves from many attendees of the All Candy Expo
By Kathy Bergen | Tribune staff reporter
September 18, 2007
When the annual All Candy Expo opened Monday at McCormick Place, more than 2,000 new snacks were rolled out, from Toxic Waste Sour Candy Spray to Blitz Caffeine Energy Gum to Lindt Creations Cherry Chili Dark Chocolate bars.

But there was another sort of new product on display as well: the just-finished $882 million West Building, which was getting its first test-taste by a major trade show since it debuted last month.
Tribune



CF Industries to acquire stake in Swiss trading firm
By James P. Miller | Tribune staff reporter
7:36 AM CDT, September 17, 2007
CF Industries Holdings Industries Inc., the Deerfield fertilizer producer, said Monday morning that it agreed to pay $25 million to acquire a 50 percent stake in a Swiss trading firm, Keytrade AG.

Closely held Keytrade, based near Zurich since its 1997 founding, has eight global offices from which it purchases nitrogen-based fertilizer products in 35 different countries, for re-sale in 65 nations.
Tribune



Univa to merge with United Devices
HIGH-TECH | Both companies focus on grid computing

September 18, 2007
BY HOWARD WOLINSKY hwolinsky@suntimes.com
Pioneering grid computing companies Lisle-based Univa, a spinoff from Argonne National Laboratory, and United Devices in Austin, Texas, said Monday they will be merging.
United Devices is best known for its program to enlist the public's unused computing power to help search for extraterrestrial life in the SETI@home project.

The new company, known as Univa UD, will be based in Lisle.
Sun Times
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Old September 19th, 2007, 04:32 AM   #84
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Posted by Marcu at SSP:

Quote:
Originally Posted by Marcu View Post
http://www.economist.com/specialrepo...ory_id=9753240
Financial centres are booming, despite predictions that new technology would spell their doom. But competition is getting keener.

. . .

Although New York and London are pre-eminent, other big cities play important international roles of their own. Some have prospered as the financial capitals of big national markets (Tokyo and Sydney) or the gateways to emerging regions (Hong Kong, Singapore and Dubai). Others have found success in niches. These include Geneva (private banking), Zurich and Bermuda (insurance and reinsurance), Chicago (futures and options), Qatar (infrastructure finance) and Bahrain (Islamic finance). Yet many of these, too, are trying to diversify.

Governments are paying more attention than ever to wooing and keeping financial firms because of the benefits they bring with them, such as highly paid jobs, large tax revenues and international connections. In New York and Hong Kong the financial sector accounts for more than one-third of total city tax revenues. In smaller centres it often makes up a large chunk of total employment.

(click link for more)
http://www.economist.com/specialrepo...ory_id=9753240

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Old September 19th, 2007, 04:33 AM   #85
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^ Look at the enormous number of people in Chicago employed in finance!

Yet the article still considers Chicago a "niche" financial center. Oh well, I guess we'll have to take what we can get
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Old September 19th, 2007, 04:45 AM   #86
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^ Come to think of it, it kind of annoys me that Chicago is being put on the same list as some "niche" city as Bahrain, Geneva, and Bermuda.

This only a few weeks after CNBC declared Chicago "the biggest financial market in the world".
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Old September 19th, 2007, 04:54 AM   #87
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Sept. 18, 2007
U of C Medical Center getting $23-million grant
(AP) — The University of Chicago Medical Center is getting a $23-million government grant to help transform basic science into new medical treatments more quickly.
Crains



Regional growth straining roads, transit system, study says
By Jon Hilkevitch | Tribune transportation reporter
10:31 AM CDT, September 18, 2007
Commuters face increasingly unpredictable travel times for the trips they make every day in the Chicago region and northwest Indiana, although one thing is for certain—traffic congestion is getting worse, according to a national study released Tuesday.

The Chicago area consistently ranked as one of the most gridlocked U.S. metropolitan regions on a variety of criteria used to measure congestion, travel delays and the capacity to handle more traffic, the study said.

The improving local economy is drawing thousands of additional workers and residents to northeast Illinois, an influx projected to reach 2 million more people in the Chicago metropolitan area by 2030.
Tribune



Nuveen shareholders OK its acquisition by Madison Dearborn Partners
By James P. Miller | Tribune staff reporter
4:46 PM CDT, September 18, 2007
Nuveen Investments Inc. said shareholders at a special meeting today approved the Chicago company's previously announced $5.75 billion agreement to be acquired by Madison Dearborn Partners LLC.
Tribune



Sept. 18, 2007
By Lorene Yue
Chicago stocks rise with market after rate cut
(Crain’s) — Shares of many Chicago-based companies rose Tuesday on news that the Federal Reserve Board cut a key interest rate by 0.5%, proof that a rising tide does indeed lift all boats.
Crains



Sept. 18, 2007
By Steven R. Strahler
Michigan law firm opens Chicago office
(Crain’s) — Michigan’s biggest law firm opened a Chicago office this week, recruiting a group of attorneys from McGuireWoods LLP, including Paul Durbin, son of U.S. Sen. Richard Durbin, D-Ill.
Crains
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Old September 20th, 2007, 04:59 AM   #88
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Sept. 19, 2007
ITW buys Chinese company
(Reuters) — Illinois Tool Works Inc. said on Wednesday it has acquired the assets of a Chinese maker of air-evacuable storage bags for an undisclosed amount in an effort to expand the diversified manufacturer's Asian presence.
Crains



Topps shareholders OK buyout by investor group
By James P. Miller | Tribune staff reporter
4:09 PM CDT, September 19, 2007
Shareholders of baseball-card and bubble-gum producer Topps Co. brought an end to a long-running fight today, by approving a $9.75-a-share, $384 million buyout bid from an investing group that includes Chicago leveraged-buyout heavyweight Madison Dearborn Partners LLC.
Tribune



Home-Grown Industry? Chicago VC Panel Bullish on Financial Technology 9/19/2007
CHICAGO – While the financial exchange markets remain a key component of Chicago’s economy, a Sept. 13 panel of venture capitalists and entrepreneurs showcased how technologies targeted toward financial services could make the city a venture capital hub for many generations to come.

Founders and chief executives of leading and aspiring Chicago-area financial technology companies shared their insight and experiences with raising venture capital and private equity last week during a panel conversation co-produced by the Illinois Venture Capital Association (IVCA) and the Illinois Information Technology Association (ITA).

The event, which was titled “Financial Technology Investing: Chicago’s Home-Grown Successes,” featured founders and chief executives from local companies including thinkorswim, AmbironTrustWave, Arroweye Solutions and Firm58. The panel was moderated by Devin Mathews of Baird Venture Partners.

“You can let people battle out the Facebooks and the YouTubes all they want,” Mathews said. His firm’s global private equity group has raised and managed more than $1.2 billion in capital. “[This industry] is going to be here for a while. For the next 25 years, you are going to want to be in Chicago.”

Because Chicago has a generations-old infrastructure supporting financial marketplaces along with the presence of the CME Group (the merged entity of the Chicago Mercantile Exchange and the Chicago Board of Trade), the underlying theme of the panel stressed that technology start-ups seeking to service the space are best located in or near the Windy City.
Midwest Business
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Last edited by The Urban Politician; September 21st, 2007 at 04:17 AM.
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Old September 20th, 2007, 06:53 PM   #89
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Quote:
Originally Posted by The Urban Politician View Post
^ Look at the enormous number of people in Chicago employed in finance!

Yet the article still considers Chicago a "niche" financial center. Oh well, I guess we'll have to take what we can get
What shocks me is how many employees and how little money!
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Old September 21st, 2007, 05:39 PM   #90
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Hub International to Acquire the Totten Insurance Group
Deal Creates Substantial Canadian Wholesale Intermediary | 19 Sep 2007 | 03:55 PM ET

CHICAGO, Sep 19, 2007 (BUSINESS WIRE) -- Hub International Limited announced today that one of its subsidiaries has entered into a definitive agreement to acquire all of the stock of Totten Insurance Group Inc. (Totten), a Canadian specialty insurance wholesaler that develops niche products and provides solutions for unusual lines of business. Totten, together with HUB Ontario's existing wholesale companies, will operate as a separate hub in concert with Hub International's other Canadian wholesale operations across Canada.
CNBC



Sept. 20, 2007
ITW buys U.K.-based company
(AP) — Industrial-products maker Illinois Tool Works Inc. said Thursday it bought Avery Berkel, a supplier of weighing equipment for the food industry, for an undisclosed amount.
Crains



Inland American Real Estate Trust to pay $920 million for RLJ Development affiliate
By Susan Diesenhouse Tribune staff reporter
4:00 PM CDT, September 20, 2007
Cash-rich Inland American Real Estate Trust Inc. of Oak Brook has agreed to pay approximately $920 million for an affiliate of the largest African-American owned hotel investment company in the nation, RLJ Development LLC.
Tribune



Sept. 20, 2007
Nasdaq to launch rival options market in December
Stock market wil challenge CBOE's dominance

(Reuters) - The Nasdaq Stock Market Inc., the largest U.S. electronic stock exchange, said on Thursday it plans to launch an options platform in December, pending approval from the U.S. Securities and Exchange Commission.

Nasdaq's entry brings the number to seven U.S. options exchanges in a crowded arena transformed by a structural change of trading in one-cent increments.
Crains
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Old September 23rd, 2007, 11:26 PM   #91
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Sept. 21, 2007
By Brandon Glenn
Zell top Chicagoan on Forbes richest 400 list

(Crain’s) — A number of Chicagoans made Forbes Magazine's list of the 400 richest Americans, including plenty of Pritzkers.
Crains



Ronald's on a roll
FOOD | Menus, marketing, managers flatten challenges

September 22, 2007
BY DAVE CARPENTER
It wasn't so long ago that the McDonald's fast-food empire looked as stale as a burger left under a heat lamp too long.

Sales were decreasing, new products weren't catching on, and McDonald's Corp. was vilified by consumer activists, nutritionists and others as Americans got fatter. Even its seemingly bulletproof stock staggered to barely $12 a share in 2003.

Now, thanks to a combination of improved menus, better marketing and deft management, business is cooking like never before.
Sun Times



Very interesting article:

Citadel sees Chicago as staff's kind of town
But some see trouble competing with N.Y. to attract top talent
By Becky Yerak and Susan Chandler Tribune staff reporters
September 23, 2007
When Citadel Investment Group expanded into the energy business in 2002, Chief Executive Kenneth Griffin was part of a team that interviewed hundreds of potential employees and hired only a dozen.
Tribune



In Wake of Bank of America Buy, Rivals Wooing Away LaSalle Bank Workers 9/21/2007
CHICAGO – In today’s Midwest Minute, we look at how banks nationwide are trying to poach unsettled workers from Chicago-based LaSalle Bank.

Crain’s Chicago Business reported on Thursday that the Board of Governors of the Federal Reserve System did not hold a public hearing before approving Bank of America’s purchase of LaSalle Bank because they didn’t hear concerns about the deal.

Bank of America’s competitors certainly did. With an anticipated 4,000 LaSalle Bank jobs estimated to be lost in the takeover, competitors including JPMorgan Chase are already wooing away workers from LaSalle Bank to help bolster their Midwest business.
Midwest Business
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Old September 23rd, 2007, 11:35 PM   #92
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NPA

By Greg Hinz
'Fat cats' share of tax tab rises
Despite guv's view, biz slice of state pie is biggest in 20 years

Confounding claims that "corporate fat cats" are shirking their Illinois tax load, business' share of state income tax payments has risen to the highest level in at least two decades.
Crains



By Steve Daniels
TCF is back on block
Local branches are its most appealing asset

TCF Financial Corp., a Minnesota-based bank holding company with more than 200 Chicago-area branches, has renewed its efforts to find a buyer, presenting local banks with an opportunity to bulk up quickly.
Crains



By Eddie Baeb
'Trickle down' effect on local retail rents
Housing slump puts pressure on expansion

Asking rents for retail space in the Chicago area fell for the first time in a year in the second quarter amid growing concerns that the housing slump will force consumers to cut spending and prompt retailers to slow expansion plans.
Crains



By Ann Saphir
Local gold trade begins slow fade
CME expected to drop once-robust contract
CME Group Inc. is letting its gold contract, a piece of Chicago's futures industry for more than three decades, die a quiet death.
Traders have been abandoning the contract amid expectations that the CME will delist it as soon as January in keeping with an agreement with the New York Mercantile Exchange, which has a competing contract. Gold was among the commodities listed on the Chicago Board of Trade, which the CME acquired for $12.1 billion in July.
Crains



By Bob Tita
Underwriters Labs plans to test for-profit status
Company seeks cash to compete globally

Safety testing company Underwriters Laboratories Inc. plans to convert much of its operations into a for-profit business, allowing it to fund acquisitions and finance expansion into overseas markets like China.
The Northbrook-based company, the largest testing and certification firm in the United States, has maintained a non-profit status since its inception more than a century ago.
Crains



By Kate Ryan
Its shares surging, local firm aims to sustain growth as financial storm eases

A Chicago company that emerged from the rubble of Arthur Andersen LLP early this decade is reaping rewards from another round of market turmoil.
Crains
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Old September 25th, 2007, 04:57 AM   #93
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A buyout and 2500 jobs go bye bye. Da bad news...

CME Group Announces Launch Date for U.S. Commercial Real Estate Futures and Options
PRNewswire-FirstCall

CHICAGO, Sept. 19 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse exchange, announced that S&P/GRA Commercial Real Estate Indices (SPCREX)™ futures and options contracts will begin trading October 28. The contracts will enable investors and speculators to protect or gain exposure to the $5.3 trillion U.S. commercial real estate market.

Ten quarterly cash-settled contracts based on property type and geography will be available. The listings include a national composite index; indexes on property types consisting of retail, office, apartments and warehouse properties; and five U.S. regional indexes covering Desert Mountain West, Mid-Atlantic South, Northeast, Midwest and Pacific West. SPCREX data is based on recorded transactions and published monthly. Trading will occur on CME Globex®, the exchange's electronic trading platform, from 5 p.m. to 2 p.m. Chicago time the following day Sunday through Thursday.
CME Group



Boeing, Northrop battling to replace aging tankers
Air Force pact could be worth $100 billion
By Peter Pae | Tribune Newspapers: Los Angeles Times
September 24, 2007
Tribune



Big gift helps U. of C. meet $2 billion fundraising goal
By Jodi S. Cohen | Tribune higher education reporter
5:42 PM CDT, September 24, 2007
The University of Chicago today announced a $25 million donation for faculty hiring, pushing the university over its $2 billion fundraising goal.

The university is the seventh U.S. campus to raise at least $2 billion during a capital campaign.
Tribune



Bank of America to lay off 2,500 in Illinois
By Becy Yerak Tribune staff reporter
3:56 PM CDT, September 24, 2007
Bank of America said it will lay off about 2,500 employess in Illinois over the next two years as part of its planned purchase of LaSalle Bank.
Tribune



Sept. 24, 2007
By Steve Daniels
Durbin to talk to Bank of America CEO
(Crain’s) — U.S. Sen. Richard J. Durbin will raise his concerns about Bank of America Corp.’s pending acquisition of Chicago’s LaSalle Bank Corp. with B of A CEO Kenneth Lewis in a conference call Monday.
Crains



Metal Management to be acquired
By James P. Miller | Tribune staff reporter
9:35 AM CDT, September 24, 2007
Metal Management Inc. disclosed Monday morning that the publicly traded Chicago scrap-metal concern has agreed to be acquired by Australia's Sims Group Ltd. for stock with an indicated current value of $57.65 a share, or $1.48 billion.
Tribune
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Old September 26th, 2007, 12:41 AM   #94
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http://www.chicagotribune.com/busine...,1103716.story

U.S. Bank will move trading desk to Chicago

By James P. Miller
September 25, 2007


Minneapolis-based U.S. Bancorp said its U.S. Bank operating unit will relocate its wholesale foreign-exchange trading desk to Chicago from its current Minneapolis location effective October 1.
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Old September 26th, 2007, 05:06 AM   #95
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Chicago by the numbers
City made impressive comeback from the dismal '60s and '70s, but more challenges loom, author contends
John McCarron
September 25, 2007
Chicago fell hard, bounced back strong, and now teeters between global greatness...and another swoon to the canvas.

What's it going to be?

That question is raised, though not fully answered, in "Urban America: Growth, Crisis, and Rebirth" a new book by John F. McDonald, emeritus professor of economics at the University of Illinois at Chicago.
Tribune



Topps vote count confirms buyout by Madison Dearborn Partners
By James P. Miller | Tribune staff reporter
4:30 PM CDT, September 25, 2007
Topps co. said Tuesday that a formal count of last week's stockholder vote confirmed the preliminary results the company released six days ago: shareholders have approved a $384 million buyout bid from a group that includes Chicago-based Madison Dearborn Partners LLC.
Tribune



Sept. 25, 2007
Wrigley's sugar-free gums win dentists' approval
Company funded at least part of the study on Orbit, Extra and Eclipse brands
(AP) — The nation's largest dentist group now says gum can be good for you, as long as it's sugar-free.

The American Dental Association said Tuesday it has awarded its seal of acceptance to Wrigley sugar-free gums Orbit, Extra and Eclipse — based on studies funded at least partially by the maker of Wrigley gums, Chicago-based Wm. Wrigley Jr. Co.
Crains
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Old September 27th, 2007, 04:18 AM   #96
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Chicago by the numbers
City made impressive comeback from the dismal '60s and '70s, but more challenges loom, author contends




I'm a bit puzzled and somewhat insulted by this guy's reliance on single parent households as a measure of whether or not a city is making progress. That statistic seems to me to be a dated tool to compare a city to its past or its future. Social norms have changed dramatically; many people have kids alone, there are same-sex couples or many people just dont get married!

Does anyone else think this number is really irrelevant!
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Old September 27th, 2007, 04:24 AM   #97
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Quote:
Originally Posted by NOLAUSA View Post
Chicago by the numbers
City made impressive comeback from the dismal '60s and '70s, but more challenges loom, author contends




I'm a bit puzzled and somewhat insulted by this guy's reliance on single parent households as a measure of whether or not a city is making progress. That statistic seems to me to be a dated tool to compare a city to its past or its future. Social norms have changed dramatically; many people have kids alone, there are same-sex couples or many people just dont get married!

Does anyone else think this number is really irrelevant!
^ Funny that you mention that, because I had the exact same thought when I read that
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Old September 27th, 2007, 04:44 AM   #98
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Motorola eager to slide into Sidekick production
By Mike Hughlett | Tribune staff reporter
September 26, 2007
Motorola Inc. will make a version of T-Mobile's popular Sidekick smart phone, one of a string of small victories over the past week for the beleaguered Schaumburg-based cell phone-maker.
Tribune



A hit right out of the box
DVD RENTALS | Redbox makes it easy, cheap to pick up a movie

September 26, 2007
BY TODD B. NATENBERG

(an excerpt):

Those are exactly the three reasons the Oakbrook Terrace-based company credits for its success in the booming multibillion-dollar rental video market -- a success that ranks it among the top five DVD rental companies: Blockbuster, Netflix, Family Video and Hollywood Video, whose parent, Movie Gallery Inc., announced on Tuesday it will shutter 520 stores to save money and cut its debt.
Sun Times



Sept. 26, 2007
Canadian Nat'l to buy Chicago-area rail operations
(Reuters) — Canadian National Railway Co. agreed to buy most of Elgin, Joliet & Eastern Railway Co. on Wednesday, a deal aimed at easing congestion plaguing CN's operations in Chicago .

Canada's largest railway said it will pay $300 million for the bulk of the railway now owned by United States Steel Corp., which will retain the operations of the EJ&E serving its Gary Works mill in Gary, Ind.
Crains

^ Also mentioned in the article, Canadian Nat'l plans to spend $100 million to upgrade the railway so as to improve travel times and relieve congestion



Sept. 26, 2007
Australia in talks to join military satellite project: Boeing exec
(Reuters) — Australia may join an advanced U.S. military communications satellite network and foot part of the bill for expanding it, said an executive of Boeing Co., which is building the system.
Crains



UAL board looking at asset sales
Spinning off units could raise $16 billion
By Julie Johnsson | Tribune staff reporter
September 26, 2007
The board of United Airlines parent UAL Corp. is mulling spinning off several key assets, including the airline's popular frequent-flier program, as directors contemplate shrinking the carrier while substantially increasing its cash stash, United sources said Tuesday.
Tribune

^ The article mentions UAL's latest strategy as a shift away from its prior efforts towards consolidation, and more towards selling off assets to increase its cash reserves



Boeing Predicts Big Latin America Market
SEATTLE - Boeing Co. predicts that Latin American airlines will need 1,730 airplanes worth $120 billion over the next 20 years as air travel in the region grows.

Boeing estimates that air travel in Latin America will grow 6.6 percent during the next two decades, above the world average of 5 percent and second only to China's 8.8 percent forecast growth rate.
CNBC
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Old September 27th, 2007, 04:49 AM   #99
The Urban Politician
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Although it didn't really bring a ton of jobs, landing Boeing really was a coup for Chicago. It's really the perfect example of a thriving global powerhouse, with markets all over the world.

Not to jinx anything--we all know that greatness does not last forever. Lets all just hope for the best, after all...
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Old September 28th, 2007, 05:31 AM   #100
The Urban Politician
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A mere 20 jobs, but worth noting:

Cabco opens HQ in suburbs
CARTS | Keep kids entertained while parents shop

September 27, 2007
BY SANDRA GUY sguy@suntimes.com
A New Zealand company that makes shopping carts with videos to keep children entertained has opened its U.S. headquarters in Schaumburg.

Cabco USA will employ 20 at the Schaumburg center, which opened Sept. 7.

The headquarters will include a warehouse and parts-service operation. The location is intended to enable Cabco employees to deliver parts to grocery stores more quickly.

"The Chicago area is a great hub for business and for recruiting quality employees," said Cabco USA Chief Operating Officer Brad Johnson, who grew up in Crystal Lake.
Sun Times



Archer Daniels, ConocoPhillips to collaborate on alternative fuels
By James P. Miller | Tribune staff reporter
9:55 AM CDT, September 27, 2007
Archer Daniels Midland Co. said Thursday it agreed to collaborate with energy producer ConocoPhillips on a plan to develop fuel from "biomass" sources such as crops, wood or switchgrass.

The Decatur grain-processing giant is already a leading player in the production of ethanol, a corn-derived alcohol that serves as an alternative to petroleum-derived gasoline.

In teaming up with the Houston petroleum producer, ADM said it will be exploring using biomass to create "non-fossil biocrude," which could be refined into transportation fuel.
Tribune



Nanotechnology ‘Backbone of Development’ Expands With Grant 9/27/2007
WEST LAFAYETTE, Ind. – The scientist regarded by his peers as the architect of the National Nanotechnology Initiative calls it “the front of the wave of scientific discovery” for nanotechnology.

Mihail Roco, a senior adviser for the National Science Foundation (NSF), speaks here of Purdue University’s Network for Computational Nanotechnology (NCN). He told MidwestBusiness.com that the NCN represents nothing less than “the premier network for modeling simulation” in the nanotech industry.
Purdue’s NCN scored another notch in its subatomic gun belt with the September announcement of an $18.25 million NSF grant to expand what Roco terms “the backbone of development in the U.S. and abroad”.

The five-year grant will help Purdue expand its national network, which was launched five years ago with an initial $10.5 million NSF grant. The network deploys sophisticated computational tools that researchers and scientists use to model and test nanotech experiments online.
Midwest Business
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