Crain's Chicago Business articles from June 2009

Crain's Chicago Business archives from June 2009

View Modern Wing at Crain's program.
June 1, 2009... Be among the first to explore the Modern Wing at an exclusive before-hours viewing of the most ambitious building project in the Art Institute of Chicago's 130-year history as part of a corporate preview hosted by Crain's Chicago Business on...

Crain's Web site wins accolades.(ChicagoBusiness.com)(Brief article)
June 1, 2009... ChicagoBusiness.com, the Web site of Crain's Chicago Business, has been named a top business Web site in the nation. The 2009 EPpy award for "Best Business Web site with fewer than 1 million unique monthly visitors'' was given to...

On the move.
June 1, 2009... FINANCIAL SERVICES AVIVA NORTH AMERICA, Chicago: Richard Hoskins, 44, to executive vice-president and chief financial officer, from CFO at Old Mutual U.S. Holdings Inc. WATER STREET HEALTHCARE PARTNERS LLC, Chicago: Max Mishkin, 30, to...

Hospitals head north; NorthShore joins pursuit of well-insured in Lake County.(NorthShore University HealthSystem)
June 1, 2009... Byline: MIKE COLIAS NorthShore University HealthSystem is hunting for growth in northern Lake County, ratcheting up the battle for well-heeled patients among some of the region's largest hospital operators. Evanston-based NorthShore...

Tanna Farms Golf Club.(Brief article)
June 1, 2009... 39W808 Hughes Road Geneva (630) 232-4300 www.tannafarms.com PGA pro: John Flynn Tee times: Accepted 10 days in advance Green fees: $65 in prime time, carts included Length: 6,510 yards Rating: 72.0 ...

Tanna Farms: quirky, but not overly so; Geneva course avoids pitfalls of its sibling; easy first nine gives way to challenging finish.
June 1, 2009... Byline: H. LEE MURPHY One of my least favorite golf courses is Mill Creek Club in west suburban Geneva, a tricked-up layout designed by Florida land planner Roy Case. Mr. Case also was called upon to route a neighboring course, Tanna...

Trade show train wreck; Convention turnout sags, hurting many firms.
June 1, 2009... Byline: MONEE FIELDS-WHITE McCormick Place conventions and trade shows are sustaining double-digit declines in attendance this year, squeezing local hotels, restaurants and other businesses that cater to conventioneers. With the...

Spotlight Rynda Laurel; Fueling Kerosene's arts and entertainment biz.
June 1, 2009... Byline: Monee Fields-White Job: Vice-president of operations and client services, Chicago-based digital advertising and marketing firm Kerosene Creative Services, since April. Vitals: 41 years old; assistant, Charisma, Virgin...

Private clubs in a pickle; Networking and lunch were already easier to find; then came the recession.
June 1, 2009... Byline: SHIA KAPOS Chicago's private clubs are going to extraordinary lengths to survive the recession, slashing initiation fees and ramping up programs as one of the oldest among them cuts services in response to a slide in membership....

Fast Fifty.(Company rankings)
June 1, 2009... Profiles by Anna-Louise Jackson, Sandra Swanson, Matt Carmichael and Michelle Evans 1 BLUESTAR ENERGY SERVICES INC., CHICAGO 2008 revenue: $193.3 million Five-year growth: 12,917% Profitable? Yes Local employees: 33 ...

Ch. 2 expanding reach; Digital switch could bring bigger audience, more TV ad revenue.
June 1, 2009... Byline: PAUL MERRION The nation's June 12 switch to digital television means more than a half-million viewers in the Chicago area will see WBBM-TV/Channel 2 clearly for the first time, possibly boosting the station's perennially low...

Ozone rules vex business; Illinois EPA fights feds over tougher industrial air regs.
June 1, 2009... Byline: PAUL MERRION Illinois regulators are fighting tighter federal air pollution controls that could make some industrial projects much more expensive or even impossible to build in the Chicago area. The tougher regulations on...

Fast 50; The economy may be slow, but they're still hot.(Brief article)
June 1, 2009... METHODOLOGY How did we find them? Crain's began seeking applications in January. We also scoured our lists of public and private companies for likely candidates. Who was eligible? Companies with headquarters in the six-county...

Brewers battle beer tax hikes; Feds, states aim to tap suds for cash for health care, budget gaps.
June 1, 2009... Byline: DAVID STERRETT Beer makers are muscling up to fight a flood of tax hike proposals from cash-thirsty government bodies all over the country. In Congress, the Senate Finance Committee has raised the possibility of a 150% increase...

Cheers for the small investor's reluctant ally.
June 1, 2009... Shareholders at a pair of local companies had the audacity in recent weeks to act like they own the place. At Huron Consulting Group Inc. and R. R. Donnelley & Sons Co., shareholders asserting their rights as owners took actions that put...

CORRECTION.
June 1, 2009... Total compensation for Patricia Woertz, chairman, president and CEO of Archer Daniels Midland Co., was $15,250,210 in 2008. This information was incorrect in Crain's May 25 list of the highest-paid CEOs.

Balancing perspectives at Scott Balice; Spotlight: Thomas Morsch Jr.
June 8, 2009... Byline: H. Lee Murphy Job: Managing director, Scott Balice Strategies LLC financial advisory firm in Chicago, since March. Vitals: 53 years old; bachelor's degree in English, Beloit College, 1977; assistant, Gov. James Thompson,...

Mag Mile facing a glitz gap; High-end stores' closures open strip to discounters.
June 8, 2009... Byline: EDDIE BAEB The relentless recession threatens to rob Chicago's North Michigan Avenue of some of its luster as rising vacancies open the door to more bargain-oriented stores. The vacancy rate in the Mag Mile corridor rose to...

On the move.(Brief article)
June 8, 2009... FINANCIAL SERVICES HARRIS BANK, Chicago: James P. Duff, 40, to market manager of the West district for business banking, in Roselle, from regional business sales manager. Also, Robert Leach, 39, to business market manager for the North...

Meet the stars of Crain's Fast Fifty.
June 8, 2009... Join Crain's for a networking reception and breakfast to celebrate the 50 fastest-growing companies in the Chicago area. A panel of Fast Fifty entrepreneurs, some of whom have made the list more than once, will share the secrets of their...

The task is clear, U of I: Tear up the "clout list'.
June 8, 2009... So it turns out that getting into the University of Illinois works the same way as getting a job with the city of Chicago. Applicants get a leg up if their names appear on a political "clout list.'' As the Chicago Tribune reported in a...

Conway Farms scores at new length; Golf club draws a tourney after toughening up; place it between tough, genteel.
June 8, 2009... Byline: H. LEE MURPHY Even courses built within the past 20 years are feeling the pressure to toughen play as equipment technology gets ever better, especially if they want to be contenders to host important tournaments. A case in point is...

Conway Farms Golf Club.(Brief article)
June 8, 2009... 425 S. Conway Farm Drive Lake Forest (847) 234-7160 www.conwayfarmsgolfclub.com Director of golf: Jeff Mory Initiation fee: $70,000; open to non-members for charity events Length: 7,216 yards Rating: 75.8 ...

LOTS ON THE LINE; Vacant car dealerships ill-suited to other uses.
June 8, 2009... Byline: H. LEE MURPHY Fallout from the bankruptcies of Chrysler LLC and General Motors Corp. will soon hit the Chicago area as dozens of automobile lots go dark. They will join a roster of dealerships closed in the past few years that, in...

Corrections.
June 8, 2009... PLS Financial Services Inc. is not spending $500,000 to renovate each store. This information was incorrect in Crain's June 1 Fast Fifty feature. A June 1 Fast Fifty feature should have said that five years ago, Network Innovations changed...

Emptiness deepens at local hotels; Occupancy rates, room prices sliding toward new lows.
June 8, 2009... Byline: THOMAS A. CORFMAN The downturn in the local hotel market is accelerating, confirming fears of a nose dive worse than in the aftermath of the 2001 terrorist attacks. As the market worsens, negotiations have abruptly stalled...

BANK TO BASICS; Future belongs to those that rediscover traditional banking ways in deposit-gathering, local lending.(First Bank & Trust)
June 8, 2009... Byline: STEVE DANIELS During the real estate boom, First Bank & Trust CEO Robert Yohanan routinely frustrated his loan officers by rejecting residential construction loans other small banks rushed to fund. Many of those loans soured...

Guv gets game; QUINN FOUND HIS POLITICAL FOOTING, BUT MUST FIND COST SAVINGS TO WIN BUDGET DEAL.
June 8, 2009... Byline: Greg Hinz Gov. Pat Quinn finally has begun to play the doomsday game effectively, threatening to fire Grandma's home-care nurse, yank Junior's college scholarship and shut down your brother-in-law's alcohol abuse program. Combined...

Will party for gold; Jewelers buy back memories: snake chains, rings from the ex.
June 8, 2009... Byline: SHIA KAPOS J. Ford Sunderland and Bruce Lambert hammer apart gold rings and pendants to release the semiprecious stones clasped inside, destroying the same kind of baubles they would have treated tenderly a few years ago as...

A hot market for firms that can cut a client's power tab.
June 8, 2009... By the time Vice-president Joe Biden visited a Chicago window factory in April, it was clear already that energy efficiency was a point of emphasis for the Obama administration. After all, the stimulus plan includes a 30% tax credit for many...

Key: Find a biz that'll have legs in the recovery.
June 8, 2009... Given the frequency with which this recession is compared to the Great Depression, it might not seem like a great time to start a business. But for entrepreneurs who can anticipate what consumers want and provide itthis is a perfect time...

Satisfying food fans' appetite for local chow.
June 8, 2009... Foodies love an ingredient with a good story. There's mustard, and then there's mustard that's hand-ground by Belgian monks. These days, though, the most sought-after and romanticized point of origin for gourmet foodstuffs isn't a European...

Outsourcing wave creates openings for specialists.
June 8, 2009... It's no secret that the health care field is growing. But businesses that can help big drugmakers and medical products companies navigate the recessionfor instance, by giving them more bang for their advertising buck, or by filling the R&D...

Opportunities abound in serving aging boomers.
June 8, 2009... Baby boomers have been waiting their whole lives for the chance to retire and show everybody the right way to grow old: on their terms. With the oldest boomers now in their 60s, they're not about to let a recession get in the way. Their...

A way to distinguish yourself in a crowded field.
June 8, 2009... "Green'' isn't a sector of the economy, it's a way to stand out in the crowd. And it's a powerful one, because consumers in many sectors have shown their willingness to pay a little extraeven in tough timesfor green products and services. ...

Service firms with simple bills will have an edge.
June 8, 2009... With revenue and credit both in short supply, many businesses have little choice but to slash budgets and closely monitor every expense. Legal, accounting and staffing services, for example, all face the challenge of justifying their...

Rowe to cut costs as NRG bid flags; Pressure building on Exelon chief to boost hostile offer or give up.
June 15, 2009... Byline: STEVE DANIELS As Exelon Corp. CEO John Rowe tries to salvage his $6.4-billion hostile takeover bid for NRG Energy Inc., he's preparing for another round of cutbacks at the Chicago-based power company. Mr. Rowe told investors at...

WIND STIMULUS; State hopes federal cash will jump-start windmill manufacturing.
June 15, 2009... Byline: PAUL MERRION Illinois plans to use federal stimulus money to nurture the wind turbine components business, a growing industry that's attracting many old-line gear makers and metal benders in the Chicago area. An emphasis on...

PLASMA ATTACK; Collection consolidation should help Baxter weather weakening prices.
June 15, 2009... Byline: MIKE COLIAS Weakening prices for the blood substance plasma have hit shares of Baxter International Inc., stirring memories of a decline several years ago that sent the company's stock tumbling. After showing near-immunity to...

Apartment glut looms; Condo bust forces a shift to rentals; South Loop flooded.
June 15, 2009... Byline: EDDIE BAEB AND ALBY GALLUN The developer of one of the South Loop's most ambitious residential projects is preparing to tear up contracts with condominium buyers and convert the property into an apartment building. Such a...

U of C forming S. Side alliance; Controversial program routes $5 million to Provident Hospital.(University of Chicago Medical Center )
June 15, 2009... Byline: MIKE COLIAS University of Chicago Medical Center plans to pour money into Cook County's Provident Hospital as officials work toward a major affiliation that could deflect criticism that U of C shuns poor patients. The Hyde...

Waiting on Lisa; AG'S INDECISION FREEZES ACTION, WHILE GOP'S KIRK OUGHT TO RUN FOR GUV.
June 15, 2009... Byline: Greg Hinz Call it the season of the Great Wait in Illinois politics. Almost every Democrat who wants to move up the political ladder in 2010 is frozen in place until the big power, Attorney General Lisa Madigan, makes her move....

Tournament Players' Club Deere Run.(Brief article)
June 15, 2009... 3100 Heather Knoll, Silvis (877) 872-3677 www.tpcdeererun.com PGA head pro: Andy Stoterau Reservations: Accepted 45 days in advance Green fees: $79 Thursday prime time, $82 after July 1 Length: 7,258 yards ...

Deere Run: Pro club for less green; It's a long drive, but rolling course is an overachiever.
June 15, 2009... Byline: H. LEE MURPHY Deflation is grabbing hold of the golf industry, and with prices at many clubs plummeting, there are some great bargains to be found. One of the best deals this season is at Tournament Players Club Deere Run in...

New hurdle for CBOE chief; After deal with CBOT, Brodsky must win over members in IPO quest.
June 15, 2009... Byline: ANN SAPHIR As he gets ready to convert the Chicago Board Options Exchange to a shareholder-owned company, CEO William Brodsky must find a way to sweeten the deal for exchange members concerned they'll be shortchanged in the...

CAT STRAYING FROM ILLINOIS; Recession speeds shift to low-cost, non-union states, countries; "it's going to be a rough year'.
June 15, 2009... Byline: JOHN PLETZ Caterpillar Inc. is emptying out its Illinois factories at the fastest rate in a quarter-century as it copes with a wrenching drop in global demand by accelerating a shift to producing equipment in lower-cost locales....

New U.S. rep faces a `steep learning curve'; Spotlight Michael Quigley.
June 15, 2009... Byline: Paul Merrion Job: Member, U.S. House of Representatives, sworn in April 21 after a special election for the seat in northwest Chicago and nearby suburbs areas vacated by White House Chief of Staff Rahm Emanuel. Vitals: 50 years...

In trying times, forward-looking firms prosper.
June 15, 2009... Over the past four months, Crain's took a long look at how the recession is changing the landscape of Chicago business. Our "Road to Recovery'' series showed that the deepest downturn in a generation will leave lasting imprints on every...

On the move.
June 15, 2009... CONSUMER SERVICES JOHN B. SANFILIPPO & SON INC., Elgin: Robert J. Sarlls, 45, to vice-president of strategy and business development, from director at RBC Capital Markets. FINANCIAL SERVICES FIFTH THIRD BANK, Cincinnati: James...

MUFFED MERGERS.
June 15, 2009... Exelon CEO John Rowe has failed in three buyout attempts since the $8-billion merger with Peco Energy Co. in 2000. SEPTEMBER 2003 Exelon's $2.5-billion bid for then-financially troubled Illinois Power Co. of Decatur foundered two...

Datebook.(Calendar)
June 22, 2009... THIS WEEK JUNE 22: Career Resource Center Inc. presents Reinventing Yourself. 10:15 a.m. Career Resource Center, Grove Cultural Campus, 40 E. Old Mill Road, Suite 105, Lake Forest. Free for first-time attendees; others pay $100. (847)...

Payday payoff; A SWARM OF LOBBYISTS DELIVERS FOR PAYDAY LENDERS IN SPRINGFIELD.
June 22, 2009... Byline: Greg Hinz In these days when "reform'' supposedly is the mantra in Springfield, business as usual continues, well, as usual. The only thing that's surprising is the sheer audacity of the players. A prime example is what didn't...

Home vacancies hit post-boom high; Already above national average, local rate grows as foreclosures spread.
June 22, 2009... Byline: ALBY GALLUN The number of empty houses dotting the local landscape continues to rise as more Chicago-area homeowners lose their properties to foreclosure. The local home vacancy rate hit 3.8% in the first quarter, up from 3.7%...

GAS LEAK; Integrys' industry-leading dividend under pressure as firm seeks a rate hike.(Integrys Energy Group Inc)
June 22, 2009... Byline: STEVE DANIELS Chicago-based Integrys Energy Group Inc., parent of local natural gas utility Peoples Gas, sports the highest dividend yield in the utility industry, but that rich payout is vulnerable unless Peoples can persuade...

Cog Hill Golf & Country Club.(Brief article)
June 22, 2009... No. 4 Dubsdread Course 12294 Archer Ave. Lemont (866) COG-HILL www.coghillgolf.com Reservations: Accepted 90 days in advance Head pro: Jeff Rimsnider Green fee: $150 Length: 7,616 yards Rating: 78.1 ...

Dubsdread's transformation; Cog Hill classic now a must-visit course.
June 22, 2009... Byline: H. LEE MURPHY Celebrated golf architect Rees Jones is about to begin his second assignment at Medinah Country Club, toughening up the No. 3 course to make it more tournament-worthy in coming years. He's gotten to know the Chicago...

Reconsidering claims; Bill would let patients appeal coverage denials by health insurers.
June 22, 2009... Byline: MIKE COLIAS A bill headed for approval in Springfield gives patients new power to challenge health insurers when they refuse to pay for medical treatments. The measure would entitle anyone covered by a private health plan to...

City Council must stand up to mayor on Olympic costs.
June 22, 2009... It's time the Chicago City Council demanded answers from Mayor Richard M. Daley on the financial risks of hosting the 2016 Olympic Games. Mr. Daley last week confirmed what everyone watching his Olympics pursuit expected: Chicago will sign...

City launches new push for broadband; Seeks $100 million from feds for wireless network.
June 22, 2009... Byline: JOHN PLETZ Chicago is angling for about $100 million in federal stimulus money to build a high-speed Internet network that would reach some of the city's poorest neighborhoods. City officials have seized on the stimulus program...

LEGACY ON THE LINE; As Ebony, Jet search for a new voice, Linda Johnson Rice fights to preserve a storied family business.
June 22, 2009... Byline: EDDIE BAEB AND ANN SAPHIR The January issue of Ebony magazine was a historic one, thanks to an exclusive interview and photo shoot with then President-elect Barack Obama. It became Ebony's all-time biggest seller. Six months...

Southwest smacks NY fares; Airlines lose, travelers win as competition to LaGuardia heats up.
June 22, 2009... Byline: JOHN PLETZ United and American are firing back at Southwest Airlines Co. even before the discounter starts service from Chicago to New York, a key business route for the dominant carriers at O'Hare International Airport. ...

Huron Consulting ready for boost in health; Spotlight David M. Shade.
June 22, 2009... Byline: Mike Colias Job: President and chief operating officer, Huron Consulting Group Inc., a Chicago-based consultancy, since May 21. Vitals: 65 years old; bachelor's degree in accounting, Miami University, Oxford, Ohio, 1966; MBA,...

Credit crisis? Banks don't see one; Despite much talk of a crunch, bankers say they're still lending.
June 22, 2009... You'd hardly know there was a credit crunch from talking to Chicago-area bankers. The majority say they are making loans and are looking actively for places to extend credit. "Even though there's a belief that banks aren't lending .... ..

3 keys to open the bank vault.(Brief article)
June 22, 2009... Define wants vs. needs "The biggest mistake is to assume that you need a loan,'' says Darrell Hackett, head of small-business lending at Harris Bank N.A. "The last thing you want to do is get in over your head.'' Before they apply for a...

On the move.
June 22, 2009... ARCHITECTURE/ENGINEERING GARY LEE PARTNERS, Chicago: Julie Deignan, 42, to vice-president of business development, from account executive at Office Revolution. FINANCIAL SERVICES ALLSTATE INSURANCE CO., Northbrook: David Schur, 43,...

Nursing homes in cross hairs; State budget-cutters aim to save by shifting patients to home care.
June 22, 2009... Byline: MIKE COLIAS Illinois nursing home operators are fighting a proposal to move thousands of patients out of their facilities in a state cost-cutting move. It's among recommendations made this month by a panel appointed by Gov....

Hunt is on for ways to invest M&A payouts.
June 22, 2009... Byline: H. Lee Murphy In the hot mergers-and-acquisitions market of the past decade, Chicago families reaped millions selling businesses to buyout firms. Now, many of those families are looking for ways to redeploy that money. Chicago...

Private-equity firms choose their spots.(Brief article)
June 22, 2009... Byline: H. Lee Murphy Manufacturing is largely out of bounds now. But health care, energy and technology still draw the interest of private-equity investors. "Health care is definitely a hot sector for investment now,'' says Steven...

WATER DAMAGE; Record rains wash away sales at seasonal businesses.(Chicago Sailing)
June 22, 2009... Byline: MONEE FIELDS-WHITE Chicago's soggiest spring ever is compounding recessionary woes at local companies that depend on sunny weather. From outdoor cafes to golf courses to garden centers, seasonal businesses are suffering as...

Building on Armour's strengths at IIT; Spotlight: Natacha DePaola.
June 29, 2009... Byline: John Pletz Job: Dean, Armour College of Engineering at the Illinois Institute of Technology, beginning Aug. 1. Vitals: 47 years old; bachelor's degree, mechanical engineering, Universidad Simcentsn Bolivar, Caracas, Venezuela,...

Ex-CEO is back to haunt CME; Careful who you oust: Now with NYSE, McNulty takes aim at key Merc product.
June 29, 2009... Byline: ANN SAPHIR James McNulty is preparing to storm the futures empire he helped build. As Chicago Mercantile Exchange CEO, Mr. McNulty engineered the company's initial public offering in 2002 and oversaw a doubling of its share...

Note to readers.
June 29, 2009... Starting with this issueand through AugustCrain's Chicago Business will publish a handful of combined editions. Our next issue comes out July 13. For award-winning local business news throughout the summerand every business dayvisit...