The Waukegan News Sun :: Business ::

Lake Forest Hospital, Blue Cross ink new pact

NEWS-SUN STAFF REPORT — Wed, 23 Jul 2008 04:00 CST

Lake Forest Hospital said Tuesday it has signed a new multi-year contract with Blue Cross/Blue Shield of Illinois. The reimbursement contract is effective through 2010 and includes all inpatient care, outpatient services, skilled nursing care and home-care services provided by Lake Forest Hospital. The hospital began its medical insurance relationship with Blue Cross in 1957.

Men's Wearhouse coming to Grand Hunt Center

BY ED COLLINS Special to the News-Sun — Wed, 23 Jul 2008 04:00 CST

GURNEE -- Men's Wearhouse, a popular retail clothing store, received approval from the Village Board on Monday night to build a new outlet in the Grand Hunt Shopping Center.

UAL reports 2Q loss of $2.73 billion

The Associated Press — Tue, 22 Jul 2008 04:00 CST

United Airlines parent UAL Corp. said Tuesday it lost $2.73 billion in the second quarter on a combination of accounting charges and high fuel prices, and said it would reduce its work force by 7,000 people by the end of 2009 as it permanently reduces the amount of flying it does.

Despite cajoling, Starbucks to close stores

The Associated Press — Tue, 22 Jul 2008 04:00 CST

Despite pleas from loyal coffee drinkers, Starbucks Corp. said it is moving forward with its plans to close 600 of its stores. Earlier this month, Starbucks named the 600 company-owned stores it plans to shutter as part of an effort to bolster its business. But patrons from across the country asked Starbucks to reconsider.

Accountant offers strategic plan to Gurnee businesses

NEWS-SUN STAFF REPORT — Tue, 22 Jul 2008 04:00 CST

With consumers cutting back on spending, businesses are doing all they can to stay afloat and on track during difficult economic times. Enter Tim Walsh, a certified public accountant and business development specialist, who is opening a new Gurnee business, Walsh One Accounting.

CLC program mixes businesses with government

NEWS-SUN STAFF REPORT — Tue, 22 Jul 2008 04:00 CST

The College of Lake County will host a free event called "It's time to grow your business through government contracts" for its Business and Government Day 2008 next month.

Economic tonic

BY LONG HWA-shu Special to the News-Sun — Sat, 19 Jul 2008 04:00 CST

Since 2004 when Zion abolished prohibition, the city has leaped forward economically with new businesses opening. "The first thing that happened was that Jewel Foods agreed to remodel its store completely and added an aisle for liquors and wines," said an elated Mayor Lane Harrison.

Abbott plans 'very small' layoff

NEWS-SUN STAFF REPORT — Sat, 19 Jul 2008 04:00 CST

NORTH CHICAGO -- Abbott Laboratories will lay off a "very small number" of employees in coming weeks as part of what a company spokesman termed a departmental restructuring.

Smith: Busch buyout sure to boost Bud's horsepower

Sat, 19 Jul 2008 04:00 CST

Dear Scott: I must confess that I tip a Michelob or Budweiser once in awhile, so I was quite interested when I heard that Anheuser-Busch had been sold. Could you discuss the deal?

BETTER WET: city

Sat, 19 Jul 2008 04:00 CST

BETTER WET: city

Lake Forest medical machines dispatched to White House

BY LONG HWA-shu Special to the News-Sun — Fri, 18 Jul 2008 04:00 CST

Kirby Lester LLC of Lake Forest, reputed as a leader in counting technology in the pharmacological industry, has sold two tablet and capsule counting machines to the White House Medical Unit. One can count 900 tablets or capsules per minute and the other 320, according to Mike Stotz, company spokesman who is also business development manager.

Biotech, overseas sales push Baxter 2QT profit

NEWS-SUN STAFF REPORT — Fri, 18 Jul 2008 04:00 CST

DEERFIELD -- Strong sales of biotech drugs and vaccines drove second-quarter profit up 26 percent for drugs and medical device maker Baxter International Inc., beating Wall Street estimates.

Wadsworth Citgo cuts gas price by 10 cents

BY KENDRICK MARSHALL kmarshall@scn1.com — Thu, 17 Jul 2008 04:00 CST

While many gas stations are seemingly draining money from the wallets and purses of customers with the escalating price of fuel, one local station took the time to give back to the community. Celebrating its first anniversary on Wednesday, the Citgo gas station on Route 173 and Green Bay Road in Wadsworth reduced its gas prices by 10 cents.

Starbucks closing 16 more Chicago area stores

BY SUN-TIMES STAFF — Fri, 18 Jul 2008 04:00 CST

Starbucks is closing 16 more Chicago area stores, in addition to two announced last week. According to Starbucks� Web site, five Chicago coffee shops will close � two on the North Side, two on the South Side and one on the West Side. Starbucks announced earlier this month that it would close 600 company-owned stores in the U.S.

Coca-Cola drinkers to pay more

BY VINNEE TONG The Associated Press — Thu, 17 Jul 2008 04:00 CST

Drinkers of Coca-Cola can expect to pay more starting this fall after the company's biggest bottler said Thursday that it would raise prices.

CTCU steps up for Grayslake Chamber 5K race and walk

NEWS-SUN STAFF REPORT — Thu, 17 Jul 2008 04:00 CST

Community Trust Credit Union's Chief Financial Officer Carol Analla and Community Relations Coordinator Michelle Fairbanks were among the 400-plus participants in last weekend's 17th annual 5K Race & Walk to benefit The Grayslake Chamber of Commerce.

Humira helps Abbott beat estimates for 2Q

BY MATTHEW PERRONE The Associated Press — Wed, 16 Jul 2008 04:00 CST

Abbott Laboratories Inc. beat Wall Street expectations Wednesday with a 34 percent jump in the second-quarter profit, driven by robust sales of its blockbuster drug Humira and increased business overseas.

Mundelein approves $8M retail and office project

BY ED COLLINS Special to the News-Sun — Wed, 16 Jul 2008 04:00 CST

Mundelein Village trustees offered a variety of opinions on a proposed commercial development slated for the south side of Route 60, but they supported it when assured it would not be a garden-variety strip mall. Developers said the retail and office project could cost as much as $8 million to build and is designed to attract upscale retailers and professional office tenants.

Bernanke: economy faces 'numerous difficulties'

BY JEANNINE AVERSA — Tue, 15 Jul 2008 04:00 CST

Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing "numerous difficulties" despite the Fed's aggressive interest rate reductions and other fortifying steps.

Airlines to begin selling ads on boarding passes

BY JOSHUA FREED The Associated Press — Tue, 15 Jul 2008 04:00 CST

MINNEAPOLIS (AP) -- Luggage? Got it. Boarding pass? Check. Ads on boarding pass to help beleaguered airline industry pay for expensive fuel? Check.

GM to cut salaried workers, production, dividend

BY TOM KRISHER The Associated Press — Tue, 15 Jul 2008 04:00 CST

DETROIT (AP) -- General Motors Corp. said Tuesday it will lay off salaried workers, cut truck production, suspend its dividend and borrow $2 billion to $3 billion to weather a severe downturn in the U.S. market.

No opposition at hearing on Advocate-Condell deal

BY ED COLLINS Special to the News-Sun — Tue, 15 Jul 2008 04:00 CST

No opposition was expressed Monday to the proposed acquisition of Condell Medical Center by Advocate Health Care. During the hearing at Libertyvillle Village Hall, Advocate and Condell executives presented statements supporting a certificate of exemption to proceed with the $180 million sale.

Anheuser-Busch to be sold for $52 billion

By ASSOCIATED PRESS — Mon, 14 Jul 2008 04:00 CST

The maker of the King of Beers has agreed to go to work for the Belgian brewer InBev SA. Anheuser Busch Cos. said early Monday it had agreed to a sweetened $52 billion takeover bid from InBev, creating the world's largest brewer and heading off what was shaping up as an acrimonious fight for the maker of Budweiser and Bud Light beers.

Harden named Rotarian of the Year

NEWS-SUN STAFF REPORT — Sat, 12 Jul 2008 04:00 CST

Each year the members of The Rotary Club of Gurnee select one of their peers as Rotarian of the Year in recognition of outstanding participation in community events and support to the Club overall. For 2008 that honor went to Rhonda Harden, director of branch operations for Community Trust Credit Union.

Supermarket eyed for would-be hospital site

Sat, 12 Jul 2008 04:00 CST

The dissolution of a plan to build a hospital in Round Lake at Wilson Road and Route 120 is paving the way for a possible supermarket with some outlot businesses.

Smith: Given time, market misery will pass

Sat, 12 Jul 2008 04:00 CST

Dear Scott: All the bad news in the economy has the stock market tumbling. What is a person to do? Can you discuss what is going on and where you think the market is headed?

Software problems bug new iPhone

BY PETER SVENSSON — Fri, 11 Jul 2008 04:00 CST

The launch of Apple Inc.'s much-anticipated new iPhone turned into an information-technology meltdown on Friday, as customers were unable to get their phones working.

Condell opens pediatric E.R

BY KENDRICK MARSHALL kmarshall@scn1.com — Thu, 10 Jul 2008 04:00 CST

Realizing the importance of catering to the medical needs of young patients, Condell Medical Center has opened Lake County's first pediatric emergency department to treat all minor illnesses to major traumas for children 15 years old and younger.

Retail center planned for Antioch Ace site

BY DIANA KUYPER Special to the News-Sun — Wed, 9 Jul 2008 04:00 CST

The corner of routes 59 and 173 will get a major facelift after the Village Board on Monday approved Centrum Antioch LLC's proposal to build a new retail center on the current site of Ace Hardware. Preliminary drawings show a drug store, confirmed by the developer as a CVS pharmacy, as the anchor store.

Pentagon to reopen $35B tanker bid

BY ANNE FLAHERTY — Wed, 9 Jul 2008 04:00 CST

WASHINGTON (AP) -- The Pentagon will re-compete a $35 billion contract to build the Air Force's fleet of new refueling tankers and pick a new winner by the end of the year, lawmakers said Wednesday.

Cardinal Health cutting 600 jobs

The Associated Press — Wed, 9 Jul 2008 04:00 CST

DUBLIN, Ohio -- Health care products and services company Cardinal Health Inc. said Tuesday that it plans to cut 600 jobs, or about 1.5 percent of its global work force, and consolidate its business into two primary segments.

InBev's bid for Anheuser-Busch turns hostile

BY CHRISTOPHER LEONARD — Tue, 8 Jul 2008 04:00 CST

The battle for America's iconic beer turned nasty Monday, with brewer Inbev escalating its offer for Anheuser-Busch into a hostile bid while the maker of Bud accused the Belgian company of undervaluing its worth. InBev announced it will attempt to remove Anheuser-Busch's entire board of directors and St. Louis-based company responded by calling the move an attempt to use a "hand-picked board" to buy the nation's biggest brewery at a discount.

Consumers Credit Union breaks ground in Volo

NEWS-SUN STAFF REPORT — Tue, 8 Jul 2008 04:00 CST

Consumers Credit Union hosted a ground-breaking ceremony recently for its seventh branch. The member-owned credit union's new office will be located at the intersection of North Ellis drive and Route 120 in Volo.

Unhappy in your job?

BY DAVE CARPENTER — Mon, 7 Jul 2008 04:00 CST

Sam Glenn followed some wise counsel when he found himself in a bad job situation: His mother told him, first, don't quit. And second, to have a frank chat with his boss at the small computer communications firm where he worked. Feeling trapped in an unhappy work environment is sending many people in search of solace and advice. With the economy sputtering and unemployment on the rise, these workers are trying to make the best of a bad situation rather than not have a job at all. Experts say it's critical at such a time not to burn bridges with an employer.

Playing games is SimplyFun

BY LONG HWA-shu Special to the News-Sun — Sat, 5 Jul 2008 04:00 CST

Host a party, play a few games and also make some money. Danielle Williams of Waukegan is having a ball with her spare time business as a consultant for SimplyFun. "It's a family game business designed to enable a family to have more face-to-face fun by playing games together," said Williams.

American workers brace for thousands of job cuts

BY DAVID KOENIG The Associated Press — Fri, 4 Jul 2008 04:00 CST

Many more job cuts, likely totaling more than 6,000, are likely at American Airlines as the nation's biggest airline hunkers down and tries to survive record high fuel costs. American notified its flight attendants union on Wednesday that it will cut up to 900 jobs starting Aug. 31, but that appears to be the tip of the iceberg.

FDA approves Abbott's next generation stent

NEWS-SUN STAFF REPORT — Fri, 4 Jul 2008 04:00 CST

ABBOTT PARK -- The U.S. Food and Drug Administration has approved Abbott Laboratories' next-generation Xience coronary stent system.

Former teacher brainstormed into retail

BY DIANA KUYPER Special to the News-Sun — Thu, 3 Jul 2008 04:00 CST

Parents who don't want summer to be a total waste of time for their children may want to visit Brainstorm, an educational retail store for parents and teachers. Former teacher Margie Wilson, 45 and her husband, Chad, started out in a small storefront at Route 45 and Sand Lake Road five years ago, but quickly outgrew the space and built their own store and warehouse at 625 N. Bridgeport Terrace.

American could cut 900 flight attendant jobs

BY DAVID KOENIG — Wed, 2 Jul 2008 04:00 CST

American Airlines says it could cut 900 flight attendant jobs as it reduces flights to cope with record high fuel costs. The Fort Worth-based airline expects to reduce jobs for pilots and mechanics too, but it hasn't released numbers yet.

Visa rescinds debit card rule

BY CHRISTOPHER S. RUGABER — Wed, 2 Jul 2008 04:00 CST

Consumers can now use Visa debit cards for smaller purchases without entering a personal identification number, the same way they can skip signing receipts. Visa said Tuesday it is no longer requiring merchants to treat its debit cards differently when customers use them as PIN-debit cards, as opposed to signature cards.

Bush administration delaying Medicare fee cut

BY JIM ABRAMS The Associated Press — Tue, 1 Jul 2008 04:00 CST

The Bush administration said Monday it will delay paying doctors for treating Medicare patients in early July to give Congress more time to block a scheduled 10.6 percent fee cut. The Centers for Medicare and Medicaid Services will not be making any payments at the 10.6 percent reduced rate until July 15, at the earliest, an agency spokesman said.

State minimum wage rises to $7.75 per hour

The Associated Press — Tue, 1 Jul 2008 04:00 CST

Minimum-wage workers in Illinois are receiving a 25-cent hourly boost in pay, to $7.75 per hour.

This renegade comes in size 6

By David Sharos Special to The Sun — Mon, 30 Jun 2008 04:00 CST

The wild, Wild West hasn't exactly come to the Midwest. But Kristi Carpenter thinks there are enough folks around who dig cowboy boots, hats, and leather jackets, and she wants them to spice up their wardrobe.

New Dunkin' Donuts opens in Waukegan

By Long Hwa-shu special to the news-sun — Sat, 28 Jun 2008 04:00 CST

A new Dunkin' Donuts shop opened Friday near the intersection of Belvidere and Green Bay roads in Waukegan. It's the 23rd store of the Ali Khoja family. The new 2,400-square-foot store will be open 24 hours a day. In addition to doughnuts, muffins, bagels, sandwiches and coffee, the store with a drive-through carries Baskin Robbins ice cream.

Community Trust opens Lake Villa branch today

BY BETH KRAMER BKramer@scn1.com — Sat, 28 Jun 2008 04:00 CST

LAKE VILLA -- Community Trust Credit Union is officially opening its third branch at its grand opening today at 9 a.m.

Smith: REITs could be downright satisfying

Sat, 28 Jun 2008 04:00 CST

Dear Scott: I recently heard about REITs on a financial radio show. It sounded like an investment that I could be interested in and I wondered if you would discuss this type of an investment and tell me what you think?

Luxury senior cottages going fast in Lake Forest

BY LONG HWA-shu Special to the News-Sun — Fri, 27 Jun 2008 04:00 CST

A housing slump? Not at Lake Forest Place, the retirement community, north of Lake Forest Hospital. While site preparation is under way for 32 new cottages, 55 percent of them have already been sold.

Brunswick to close four boat plants, layoff 2,700

NEWS-SUN STAFF REPORT — Fri, 27 Jun 2008 04:00 CST

LAKE FOREST -- Brunswick Corp. said Thursday the slumping marine market is forcing it to reduce costs by $300 million, including the closing of four boat manufacturing plants and laying off 2,700 workers.

Libertyville approves Condell master plan

BY ED COLLINS Special to the News-Sun — Fri, 27 Jun 2008 04:00 CST

LIBERTYVILLE -- Condell Medical Center received approval of its master plan for developing its 76-acre medical campus at Tuesday night's Village Board meeting.

Restaurant opening gets international attention

By Beth Kramer staff writer — Thu, 26 Jun 2008 04:00 CST

The grand opening of Jozino's Pizza and Pub made international television Wednesday. Asianet USA Channel Program Director Biju Zacharia filmed the Waukegan Mayor Richard Hyde cutting the ribbon with owner Varghese Palamalayil. The story is part of a business news slot televised in 94 countries in North America, Europe and the Middle East via satellite.

Hiring hurt by rising fuel costs

By Beth Kramer Staff writer — Thu, 26 Jun 2008 04:00 CST

GURNEE - A survey released from a Gurnee staffing company revealed that the rising fuel and material costs are adversely affecting employment.

American Airlines outlines service cutbacks

The Associated Press — Wed, 25 Jun 2008 04:00 CST

American Airlines will cut back flying later this year at many airports, including hubs in Dallas and Chicago, as it attempts to cope with record high fuel prices. American said it will reduce departures at its Chicago O'Hare International Airport hub by 28 flights.

Consumer confidence sinks to 16-year-plus low

BY ELLEN SIMON — Wed, 25 Jun 2008 04:00 CST

U.S. consumers are the gloomiest they've been since the tail end of the last prolonged recession. Inflation, sinking home values and soaring gas prices have pushed confidence to the lowest level since 1992. Consumers' view of the economic future has never been lower, raising worries that already weak consumer spending could deteriorate further.

Madigan sues Countrywide

The Associated Press — Wed, 25 Jun 2008 04:00 CST

CHICAGO (AP) -- Illinois Attorney General Lisa Madigan contends thousands of Illinois homeowners paid a steep price for Countrywide Financial's "desire to dominate the marketplace."

Grayslake company donates lightning warning system

By Beth Kramer Staff writer — Tue, 24 Jun 2008 04:00 CST

Lightning strikes 100 times per second, or 8.6 million times a day. The United States gets 20 million cloud-to-ground lightning strikes per year. To warn Grayslake residents, Harger Lightning Protection of Grayslake, recently donated a Strike Guard Lightning Warning System to the Esper A. Peterson Family Aquatic Center.