In an article entitled "Companies feeling venturesome again," Crain's Chicago Business reports that large companies such as Chicago's Tribune Co. and Playboy Enterprises are on the lookout to invest in small companies to fuel their own future growth. The article reports that Motorola has announced five investments so far this year as part of the company's ongoing search for new technologies.
According to the National Venture Capital Association, corporate investments in the United States in the first half of this year grew to 9% of the $12 billion in venture capital invested, the highest level since 2002.
Thursday, October 14, 2010
Wednesday, October 13, 2010
Trump Tower to Open Furnished Models
According to an article in the Chicago Tribune, with one-third of its units unsold and the real estate market still suffering, Trump International Hotel & Tower wants to show potential buyers not just where they can live, but how.
The 92-story skyscraper, which includes one of the newest luxury hotels in Chicago, sits on the bank of the Chicago River, just off the Magnificent Mile. The Tribune reports that the Trump Organization is finalizing plans to turn five of its unsold condominiums in into furnished models. The move signals a change in the company's marketing strategy for the tower. Until now, the company has concentrated on drawing buyers to the Trump brand and panoramic views of Chicago.
According to the Tribune, each of the five furnished models are designed to reach a different demographic. A 2,000-square-foot, $2 million unit on the 34th floor with sweeping views of the Loop and Lake Michigan will be aimed at a slightly older, more established couple with grown children who like to visit. Other units, varying in size, will be designed and furnished to capture the attention of conservative, slightly older women; wealthier established bachelors; single professional women; and those who prefer an urban yet rustic lifestyle.
"We're sitting here with this real estate built in a climate where nothing is getting built. We want to maximize that," said Ivanka Trump, executive vice president of development at The Trump Organization. "People are getting off the fence. The gives us the ability to tell the story of the success of the hotel, as well as what lifestyles we perceive for this building."
To read the entire article, click here.
The 92-story skyscraper, which includes one of the newest luxury hotels in Chicago, sits on the bank of the Chicago River, just off the Magnificent Mile. The Tribune reports that the Trump Organization is finalizing plans to turn five of its unsold condominiums in into furnished models. The move signals a change in the company's marketing strategy for the tower. Until now, the company has concentrated on drawing buyers to the Trump brand and panoramic views of Chicago.
According to the Tribune, each of the five furnished models are designed to reach a different demographic. A 2,000-square-foot, $2 million unit on the 34th floor with sweeping views of the Loop and Lake Michigan will be aimed at a slightly older, more established couple with grown children who like to visit. Other units, varying in size, will be designed and furnished to capture the attention of conservative, slightly older women; wealthier established bachelors; single professional women; and those who prefer an urban yet rustic lifestyle.
"We're sitting here with this real estate built in a climate where nothing is getting built. We want to maximize that," said Ivanka Trump, executive vice president of development at The Trump Organization. "People are getting off the fence. The gives us the ability to tell the story of the success of the hotel, as well as what lifestyles we perceive for this building."
To read the entire article, click here.