Porte Brown LLC, an Elk Grove Village-based accounting firm, announced that they have received the highest rating possible following a rigorous, independent peer review of their Financial Statement Audit and Review practices.
The reviewers concluded that the accounting firm's system of quality control for the accounting and auditing practice in effect for the year ended 2010 has been suitably designed and complied with to provide reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects.
Porte Brown participates in the Peer Review Program, a practice-monitoring program approved by the American Institute of Certified Public Accountants (AICPA), the national professional organization of CPAs. A firm participating in the Peer Review Program must have an independent review of its accounting and auditing practice every three years.
"Quality control is at the heart of the Peer Review process," says Russell Wilson, Porte Brown Auditing Partner. "It's an acknowledgement of the people who make up this organization and an endorsement of their professionalism. It confirms they understand both the practices for delivering quality services and the methods to apply them rigorously."
"This independent peer review is yet another assurance we can provide Porte Brown clients," says Bruce Jones, Porte Brown Managing Partner. "It's essential that our clients remain confident and comfortable knowing their accounting, audit, and financial statement review engagements are performed diligently and accurately. It also lets prospective clients know our people and our methods meet the most stringent professional requirements in the industry."
Tuesday, December 13, 2011
Wednesday, November 16, 2011
Giordano's Pizza Sold at Bankruptcy Auction
According to the Chicago Tribune, the Giordano's pizza chain was sold today (November 16) at auction for $61.6 million to an investor group led by Chicago-based private equity firm Victory Park Capital.
Giordano's and its related entities filed for Chapter 11 bankruptcy protection last February. The company owed nearly $50 million to its principal lender, Fifth Third Bank and about $2 million to two other banks.
The price bid at the auction was reportedly high enough that the company's unsecured creditors may receive some payments on their claims.
Read the full article.
Giordano's and its related entities filed for Chapter 11 bankruptcy protection last February. The company owed nearly $50 million to its principal lender, Fifth Third Bank and about $2 million to two other banks.
The price bid at the auction was reportedly high enough that the company's unsecured creditors may receive some payments on their claims.
Read the full article.
Monday, November 7, 2011
Chicago Luxury Hotel Hosts In-Residence Artist Studio
Since opening five years ago, Chicago luxury hotel The James has become an important fixture in the city's art scene by supporting and featuring local and regional artists throughout the hotel's interior through both permanent and rotating pieces. Inspired by the hotel's recent interior refurbishment, The James is proud to announce a first-ever, in-residence Artist Studio @ The James. This art-inspired hotel program is designed to celebrate talent in the Midwest and give artists the chance to create a one-of-a-kind piece that will be added to the hotel's permanent collection. This would be the first piece commissioned since the hotel opened in 2006.
From Nov. 3 to Nov. 6, five artists from Chicago, Detroit and Minneapolis will take residence at the Magnificent Mile hotel for four days only to create a wall-based piece inspired by their experience in the city. From metal working to painting to collage, artists will be given the chance to make their way into the permanent hotel art collection with creations that reflect the hotel's eclectic and refreshing energy. Each piece will be critiqued by a local panel of judges and the winning artwork will undergo official review for permanent commission. Participating artists include:
Art enthusiasts can catch all the action by visiting the The James Facebook page and viewing the "Artist Studio @ The James" tab. An introduction to each artist, interviews, videos and photos will be featured, allowing the public to watch as each piece is created on-site at the hotel. The Artist Studio @ The James program winner will be announced on Facebook on Monday, Nov. 7 at 1 p.m. CT.
In addition, The James Chicago has revealed a refreshed look this fall, including updated furnishings, new environmentally-thoughtful services and a selection of updated in-room amenities. Highlights include a partnership with Intelligent Nutrients, complimentary triple-filtered water - refreshed twice daily - in each guest room, eco-friendly pillow options by Keetsa, custom-crafted furniture motivated by guest feedback and additions to the hotel's existing art collection – including the piece commissioned for the Artist Studio @ The James.
In the realm of hospitality, The James hotels, with ideally situated locations in Chicago, New York and The James Royal Palm in Miami (opening late 2012), are authentic, warmly modern, residentially-styled luxury hotels that deliver an artistically inspired blend of exquisitely hand-crafted design surrounded by environmentally thoughtful details. The James defines luxury liberated from tradition; this core philosophy is evident in the properties' residential yet social environment and personal, intuitive service.
From Nov. 3 to Nov. 6, five artists from Chicago, Detroit and Minneapolis will take residence at the Magnificent Mile hotel for four days only to create a wall-based piece inspired by their experience in the city. From metal working to painting to collage, artists will be given the chance to make their way into the permanent hotel art collection with creations that reflect the hotel's eclectic and refreshing energy. Each piece will be critiqued by a local panel of judges and the winning artwork will undergo official review for permanent commission. Participating artists include:
- Kristina Estell – Nominated by Minneapolis Institute of Arts, Minneapolis
- Jane Ritchie, David Rollins and Amy Weiks – Cranbrook Academy of Art, Bloomfield Hills, MI
- Monica Sirimarco – Nominated Fine Arts Building, Chicago
Art enthusiasts can catch all the action by visiting the The James Facebook page and viewing the "Artist Studio @ The James" tab. An introduction to each artist, interviews, videos and photos will be featured, allowing the public to watch as each piece is created on-site at the hotel. The Artist Studio @ The James program winner will be announced on Facebook on Monday, Nov. 7 at 1 p.m. CT.
In addition, The James Chicago has revealed a refreshed look this fall, including updated furnishings, new environmentally-thoughtful services and a selection of updated in-room amenities. Highlights include a partnership with Intelligent Nutrients, complimentary triple-filtered water - refreshed twice daily - in each guest room, eco-friendly pillow options by Keetsa, custom-crafted furniture motivated by guest feedback and additions to the hotel's existing art collection – including the piece commissioned for the Artist Studio @ The James.
In the realm of hospitality, The James hotels, with ideally situated locations in Chicago, New York and The James Royal Palm in Miami (opening late 2012), are authentic, warmly modern, residentially-styled luxury hotels that deliver an artistically inspired blend of exquisitely hand-crafted design surrounded by environmentally thoughtful details. The James defines luxury liberated from tradition; this core philosophy is evident in the properties' residential yet social environment and personal, intuitive service.
Friday, November 4, 2011
Groupon IPO Raises $700 Million
Chicago-based Groupon Inc. has priced its much-awaited initial public offering at $20 per share, according to a regulatory filing made late Thursday, the Chicago Tribune reports. That price is higher than Groupon's expected price range of $16 to $18 a share. The company also increased the number of shares in the offering by 5 million shares to 35 million, representing 5.5% of the company, and raising $700 million. At the reported new price, the value of the entire company would be $12.76 billion.
Read the full story in the Chicago Tribune.
Read the full story in the Chicago Tribune.
Thursday, November 3, 2011
Charles Schwab to Acquire Chicago Software Company Compliance11
The Charles Schwab Corporation has entered into an agreement to acquire Compliance11, Inc., a Chicago-based provider of cloud-based, regulatory compliance software. The acquisition is expected to close in the fourth quarter of 2011, subject to customary closing conditions.
Based in Chicago and founded in 2005, Compliance11, Inc. is a leading provider of cloud-based compliance automation software for public companies, brokerage firms, investment advisors, hedge funds, private equity firms and pension funds. Its highly scalable and customizable platform provides companies with a series of compliance tools to assist in managing their disclosure, tracking, surveillance and reporting needs, and more efficiently manage employee compliance.
Schwab's Designated Brokerage Services (DBS) business has provided employee trade monitoring services to employers in regulated industries for more than 15 years and now serves over 650 corporate relationships who monitor over $30 billion in assets across 130,000 employee accounts. DBS provides employee trading data to these companies, which helps them manage their responsibilities, while providing their employees all of the products, services and support Schwab has to offer.
"The range of firms monitoring their employees' investing and trading activities to ensure compliance with industry regulations is expanding," stated Jim McCool, executive vice president and head of Institutional Services at Schwab. "A heightened regulatory focus and attention to corporate reputational risk create more reason than ever for firms toseek out efficient solutions to helpmeet their compliance obligations."
"This combination of capabilities will put Schwab in a unique position," added Trish Cox, senior vice president of Schwab Corporate Brokerage Services. "By making Compliance11's technology available with our own investing, trading andreporting systems we can create a one-of-a-kind solution that brings great advantages to the corporate marketplace. For example, with an integrated platform, employers would be able to streamline the process of monitoring employee trades to comply with regulations, avoiding potential delays and inefficiencies."
"We are delighted to be joining forces with Schwab," said Tad Mitchell, Compliance11 president and CEO. "Innovation and excellent customer service are what have made us both great companies. We're looking forward to the opportunity to take both of these to the next level."
Based in Chicago and founded in 2005, Compliance11, Inc. is a leading provider of cloud-based compliance automation software for public companies, brokerage firms, investment advisors, hedge funds, private equity firms and pension funds. Its highly scalable and customizable platform provides companies with a series of compliance tools to assist in managing their disclosure, tracking, surveillance and reporting needs, and more efficiently manage employee compliance.
Schwab's Designated Brokerage Services (DBS) business has provided employee trade monitoring services to employers in regulated industries for more than 15 years and now serves over 650 corporate relationships who monitor over $30 billion in assets across 130,000 employee accounts. DBS provides employee trading data to these companies, which helps them manage their responsibilities, while providing their employees all of the products, services and support Schwab has to offer.
"The range of firms monitoring their employees' investing and trading activities to ensure compliance with industry regulations is expanding," stated Jim McCool, executive vice president and head of Institutional Services at Schwab. "A heightened regulatory focus and attention to corporate reputational risk create more reason than ever for firms toseek out efficient solutions to helpmeet their compliance obligations."
"This combination of capabilities will put Schwab in a unique position," added Trish Cox, senior vice president of Schwab Corporate Brokerage Services. "By making Compliance11's technology available with our own investing, trading andreporting systems we can create a one-of-a-kind solution that brings great advantages to the corporate marketplace. For example, with an integrated platform, employers would be able to streamline the process of monitoring employee trades to comply with regulations, avoiding potential delays and inefficiencies."
"We are delighted to be joining forces with Schwab," said Tad Mitchell, Compliance11 president and CEO. "Innovation and excellent customer service are what have made us both great companies. We're looking forward to the opportunity to take both of these to the next level."
Wednesday, November 2, 2011
Filenes Basement and Syms to Liquidate
Syms and Filene's Basement will be jointly administered during the bankruptcy. The liquidation of stores is expected to run through approximately January 2012. The schedule for store closings is to be determined as the liquidation of merchandise is completed.
Chief Executive Marcy Syms said, in a prepared statement, "This has been a challenging time for Syms and Filene's Basement. We have been faced with increased competition from large department stores that now offer the same brands as our stores at similar discounts."
Syms Corp was founded by Sy Syms in 1959. Filene's Basement traces its roots back to 1909 and founder William Filene. Syms acquired assets of Filene’s Basement, Inc., which had filed for bankruptcy, in a bankruptcy auction in 2009. Syms Corp and Filene's Basement, LLC collectively own and operate 46 "off-price" apparel stores located predominantly on the east coast of the United States under the "Syms" name (which, together with co-branded Syms/Filene's Basement stores, are owned and operated by Syms Corp) and the "Filene's Basement" name (which are owned and operated by Filene’s Basement, LLC).
With the end of Filene's Basement goes its "Running of the Brides" events (pictured above). Brides-to-be from acrosss the Midwest traveled to Chicago to find bargain wedding gowns. The dresses, often discontinued lines from major wedding gown manufacturers, appealed to both bargain hunters and simply adventurous brides and their friends and family, who often came as a team. While there are plenty of bridal boutiques in Chicago, there was only one Filene's Basement. Photo credit: Dimonika Studio/Flickr
Friday, July 29, 2011
Tasty Catering Expands in Elk Grove Village
Elk Grove Village - Tasty Catering, a suburban-Chicago based corporate catering and event planning services company, has purchased the 1175 McCabe Avenue building in Elk Grove Village, IL, adding 15,000 square feet to accommodate the company’s growth. This purchase follows a number of progressive achievements for Tasty Catering and its affiliated companies.
Tasty Catering began more than 20 years ago catering out of its well known hot dog stand Tasty Dawg in Elk Grove Village. Since 1991, Tasty Catering has been exceeding the catering needs of Chicago area corporations and organizations working from its 22,000 square foot 1900 Touhy Avenue building in Elk Grove Village. A 2010 Top Small Company Workplaces, Tasty Catering managed nearly 11,000 events in 2010 and acquired two catering businesses since 2009.
The 1175 McCabe Avenue building was purchased as part of a strategic plan to expand Tasty Catering and its affiliated companies That’s Caring (www.ThatsCaring.com), an eco-friendly online gift company, T.F. Processors (www.TFProcessors.com), a wholesale contract manufacturer of baked goods, and nuphorIQ (www.nuphorIQ.com), a creative agency. That’s Caring and nuphorIQ will occupy 5,000 square feet of the 1175 McCabe building with the balance satisfying storage needs and being offered for short term leases.
“As a small business that continues to lead the corporate catering industry, we are proud to expand Tasty Catering in Elk Grove Village, an exceptional place offering business owners a prime location and great local talent,” said Larry Walter, Tasty Catering principal and cofounder.
Tasty Catering began more than 20 years ago catering out of its well known hot dog stand Tasty Dawg in Elk Grove Village. Since 1991, Tasty Catering has been exceeding the catering needs of Chicago area corporations and organizations working from its 22,000 square foot 1900 Touhy Avenue building in Elk Grove Village. A 2010 Top Small Company Workplaces, Tasty Catering managed nearly 11,000 events in 2010 and acquired two catering businesses since 2009.
The 1175 McCabe Avenue building was purchased as part of a strategic plan to expand Tasty Catering and its affiliated companies That’s Caring (www.ThatsCaring.com), an eco-friendly online gift company, T.F. Processors (www.TFProcessors.com), a wholesale contract manufacturer of baked goods, and nuphorIQ (www.nuphorIQ.com), a creative agency. That’s Caring and nuphorIQ will occupy 5,000 square feet of the 1175 McCabe building with the balance satisfying storage needs and being offered for short term leases.
“As a small business that continues to lead the corporate catering industry, we are proud to expand Tasty Catering in Elk Grove Village, an exceptional place offering business owners a prime location and great local talent,” said Larry Walter, Tasty Catering principal and cofounder.
Chicago Judge Backs FTC to Stop Online Directory Scam
At the request of the Federal Trade Commission, a federal judge in Chicago has temporarily restrained a European-based operation that has purported scammed small businesses and nonprofit organizations, including churches, out of millions of dollars. Judge Harry Leinenweber of the U.S. District Court for the Northern District of Illinois issued the court order halting the practice and freezing the defendants’ assets. The FTC is also seeking to permanently stop the illegal practices and to require that the defendants pay refunds to their victims.
According to court filings by the FTC, the defendants operate their scheme from Palma de Mallorca, Spain, using corporations based in England and the Netherlands. Since 2009, they have sent unsolicited faxes to churches, doctors’ and dentists’ offices, and local retailers in the United States, Canada, Australia, and possibly other countries. Each fax sent to a U.S. business or nonprofit includes a name such as YellowPage-Illinois.com, depending upon the location of the organization, and a “walking fingers” logo similar to the one commonly associated with local yellow pages.
The FTC alleges that these faxed forms falsely imply that the business or nonprofit has a pre-existing relationship with the defendants. The forms contain information about the business or nonprofit, and a Yellow Page ID number, and instruct the recipient to confirm and update the information and sign and fax the form back by a certain deadline. Hidden in fine print at the bottom of the form is the only disclosure that the fax is a solicitation for new business and that organizations that return the form are ordering an $89 per month, two-year registration in the defendants’ online directory, payable a full year in advance. Many consumers do not notice the fine print and sign and return the form, believing that they are just updating their local yellow pages listing. Often the person who signs and returns the form is not authorized to purchase services on behalf of the business or nonprofit.
According to the FTC, organizations that return the form then receive a faxed invoice seeking payment of $1,068 for 12 months of directory listings. They are instructed to direct the payment to Yellow Page B.V. at a New York City address. If the business or nonprofit tries to cancel, they are often told that the cancellation period has expired, and that the defendant intends to enforce the contract. Organizations that refuse to pay receive faxes seeking late fees and threatening to refer the alleged debts to a collection agency and injure their company’s credit rating.
The complaint names Jan Marks; Yellow Page Marketing B.V., also doing business as Yellow Page B.V. and Yellow Page (Netherlands) B.V.; Yellow Publishing Ltd.; and Yellow Data Services Ltd..
In conjunction with the FTC’s case, the Canadian Competition Bureau, which took the lead in coordinating the joint effort, also filed a lawsuit against this operation, alleging that the defendants’ deceptive scheme similarly targets small businesses and other organizations in Canada. In addition, the Australian Competition and Consumer Commission previously brought an action against the defendants’ operations in Australia, and provided assistance to the current enforcement effort.
According to court filings by the FTC, the defendants operate their scheme from Palma de Mallorca, Spain, using corporations based in England and the Netherlands. Since 2009, they have sent unsolicited faxes to churches, doctors’ and dentists’ offices, and local retailers in the United States, Canada, Australia, and possibly other countries. Each fax sent to a U.S. business or nonprofit includes a name such as YellowPage-Illinois.com, depending upon the location of the organization, and a “walking fingers” logo similar to the one commonly associated with local yellow pages.
The FTC alleges that these faxed forms falsely imply that the business or nonprofit has a pre-existing relationship with the defendants. The forms contain information about the business or nonprofit, and a Yellow Page ID number, and instruct the recipient to confirm and update the information and sign and fax the form back by a certain deadline. Hidden in fine print at the bottom of the form is the only disclosure that the fax is a solicitation for new business and that organizations that return the form are ordering an $89 per month, two-year registration in the defendants’ online directory, payable a full year in advance. Many consumers do not notice the fine print and sign and return the form, believing that they are just updating their local yellow pages listing. Often the person who signs and returns the form is not authorized to purchase services on behalf of the business or nonprofit.
According to the FTC, organizations that return the form then receive a faxed invoice seeking payment of $1,068 for 12 months of directory listings. They are instructed to direct the payment to Yellow Page B.V. at a New York City address. If the business or nonprofit tries to cancel, they are often told that the cancellation period has expired, and that the defendant intends to enforce the contract. Organizations that refuse to pay receive faxes seeking late fees and threatening to refer the alleged debts to a collection agency and injure their company’s credit rating.
The complaint names Jan Marks; Yellow Page Marketing B.V., also doing business as Yellow Page B.V. and Yellow Page (Netherlands) B.V.; Yellow Publishing Ltd.; and Yellow Data Services Ltd..
In conjunction with the FTC’s case, the Canadian Competition Bureau, which took the lead in coordinating the joint effort, also filed a lawsuit against this operation, alleging that the defendants’ deceptive scheme similarly targets small businesses and other organizations in Canada. In addition, the Australian Competition and Consumer Commission previously brought an action against the defendants’ operations in Australia, and provided assistance to the current enforcement effort.
Friday, July 22, 2011
SceneTap App Launches in Chicago
SceneTap, a Chicago startup, launches today with what it calls "the biggest party of the year," taking place at 50+ Chicago bars.
The launch was announced with a four-page full color cover on today's RedEye, a free daily newspaper published by Tribune Company. 50 spotlights will be lighting up the sky to mark the locations of participating bars, and drink specials from Bacardi and Goose Island will be available to SceneTap users at every venue. Joe's Bar on Weed St. will kick off the party with some great musical guests.
SceneTap is a free app for iPhone, Android and the web that gives you real-time info on the scene at your favorite bars, including male-to-female ratio, average age, crowd size, atmosphere and exclusive deals. You can integrate your SceneTap profile with your Facebook and Twitter accounts, and join the chat on your favorite bar’s profile page.
In attendance at the launch party central at Joe's Bar on Weed St will be members of the 1985 Chicago Bears Super Bowl team (Dan Hampton, Steve McMichael, Keith Van Horne and Otis Wilson), current Bear Charles Tillman and Blackhawks players Jonathan Toews and Brent Seabrook.
For more information on the SceneTap launch, visit the company's FaceBook events page.
The launch was announced with a four-page full color cover on today's RedEye, a free daily newspaper published by Tribune Company. 50 spotlights will be lighting up the sky to mark the locations of participating bars, and drink specials from Bacardi and Goose Island will be available to SceneTap users at every venue. Joe's Bar on Weed St. will kick off the party with some great musical guests.
In attendance at the launch party central at Joe's Bar on Weed St will be members of the 1985 Chicago Bears Super Bowl team (Dan Hampton, Steve McMichael, Keith Van Horne and Otis Wilson), current Bear Charles Tillman and Blackhawks players Jonathan Toews and Brent Seabrook.
For more information on the SceneTap launch, visit the company's FaceBook events page.
Google Fast Tracks Google+ Business Profiles
According to a report on PC World, the surging demand for Google+ business profiles has prompted Google+ product leader Vic Gundotra, a Google senior vice president of engineering, to acknowledge that Google was caught off guard, but he says that a business solution is being fast-tracked.
So far, only companies hand-selected to participate in a test program for the development of business profiles have been allowed to have Google+ pages. Google has been deleting unapproved Google+ business profiles.
Search engine expert Danny Sullivan, editor of the Search Engine Land blog, whose business profile was among those removed from the site, wrote a series of critical posts on Thursday. In a comment to one of those posts, Gundotra wrote that Google should have anticipated the frustration among those who want a Google+ business profile. "This is my fault. I prioritized other things first. So when Danny says Google screwed up, he is right," wrote Gundotra.
View the original article.
So far, only companies hand-selected to participate in a test program for the development of business profiles have been allowed to have Google+ pages. Google has been deleting unapproved Google+ business profiles.
Search engine expert Danny Sullivan, editor of the Search Engine Land blog, whose business profile was among those removed from the site, wrote a series of critical posts on Thursday. In a comment to one of those posts, Gundotra wrote that Google should have anticipated the frustration among those who want a Google+ business profile. "This is my fault. I prioritized other things first. So when Danny says Google screwed up, he is right," wrote Gundotra.
View the original article.
Sunday, June 5, 2011
10 Chicago Startups You Should Know
I just came across an article on The Next Web on the 10 Chicago startups you should know about. The companies highlighted in the article range from mPayy, a company bidding to use its APIs to manage CTA fares, to Poggled, a deals site with the slogan "Up to 80% of nightlife," featuring discounts on drinks and live music.
The other companies named in the article are Watermelon Express, CookItFor.Us, UmberCMD, ShelfLuv, A Space Apart, SproutSocial, midVentures, and Wearable Inc., maker of a gadget called the AirStash.
For more information, read the full article here.
The other companies named in the article are Watermelon Express, CookItFor.Us, UmberCMD, ShelfLuv, A Space Apart, SproutSocial, midVentures, and Wearable Inc., maker of a gadget called the AirStash.
For more information, read the full article here.
Monday, May 16, 2011
National Small Business Week 2011
Since 1963, each year the President of the United States has proclaimed National Small Business Week to recognize the contributions of small businesses to the economic well-being of America. This year, National Small Business Week is May 16-20.
The U.S. Small Business Administration estimates that there are 27.2 million small businesses in America. Small businesses are the backbone to the strength of the American economy. More than half of Americans either own or work for a small business. Small businesses also create 60-80 percent of new jobs in the country. Small businesses drive innovation, create 21st century jobs and increase U.S. competitiveness.
As part of National Small Business Week, the U.S. Small Business Administration annually recognizes the significant impact made by outstanding entrepreneurs and small business owners. This year, the nation’s top entrepreneurs will be honored at the U.S. Small Business Administration’s National Small Business Week events May 18-20 in Washington, D.C. Under the theme, “Empowering Entrepreneurs,” a series of events and educational forums will mark the 58th anniversary of the agency and the 48th annual proclamation of National Small Business Week.
More than 100 outstanding small business owners from across the country will receive awards. The reciipients will meet with top administration officials, congressional representatives and national business leaders. The highlight of the celebration will be the announcement of the National Small Business Person of the Year.
The State Small Business award winners and recipients of the Champion and other Entrepreneurial awards are nominated by local trade associations, chambers of commerce and business organizations and government agencies.
For more information, visit www.nationalsmallbusinessweek.com.
The U.S. Small Business Administration estimates that there are 27.2 million small businesses in America. Small businesses are the backbone to the strength of the American economy. More than half of Americans either own or work for a small business. Small businesses also create 60-80 percent of new jobs in the country. Small businesses drive innovation, create 21st century jobs and increase U.S. competitiveness.
As part of National Small Business Week, the U.S. Small Business Administration annually recognizes the significant impact made by outstanding entrepreneurs and small business owners. This year, the nation’s top entrepreneurs will be honored at the U.S. Small Business Administration’s National Small Business Week events May 18-20 in Washington, D.C. Under the theme, “Empowering Entrepreneurs,” a series of events and educational forums will mark the 58th anniversary of the agency and the 48th annual proclamation of National Small Business Week.
More than 100 outstanding small business owners from across the country will receive awards. The reciipients will meet with top administration officials, congressional representatives and national business leaders. The highlight of the celebration will be the announcement of the National Small Business Person of the Year.
The State Small Business award winners and recipients of the Champion and other Entrepreneurial awards are nominated by local trade associations, chambers of commerce and business organizations and government agencies.
For more information, visit www.nationalsmallbusinessweek.com.
Monday, May 9, 2011
Is Sears Headquarters Leaving Illinois?
The Daily Herald reported today that Sears Holdings Corp. is considering moving its corporate headquarters from northwest suburban Hoffman Estates to a new out of state location. According to the Daily Herald, Sears has been in discussions with North Carolina, Texas, Tennessee and New Jersey.
"We do owe it to our associates and shareholders to consider options and alternatives and intend to be very throughtful and thorough in our deliberations," a Sears spokesman told the Daily Herald. "It is still very early in the process."
The Daily Herald also reports that as part of that process, Sears commissioned an economic impact study that concluded the company's departure could send shock waves through the suburbs, with the potential loss of about 6,000 Sears employees and another 9,000 ancillary jobs with nearby businesses, vendors and contractors.
In connection with its move from downtown Chicago twenty two years ago, Sears received both state and local incentives which are set to expire in 2012. A bill introduced in Springfield by state Rep. Fred Crespo, a former Hoffman Estates village board member, would continue property tax breaks for Sears for another 15 years in an effort to keep the company in Hoffman Estates, the Daily Herald reported.
The Sears report comes just days after Crain's Chicago Business disclosed that another major corporate employer in Hoffman Estates, AT&T Inc., has put its 1.5-million-square-foot campus on the market.
"We do owe it to our associates and shareholders to consider options and alternatives and intend to be very throughtful and thorough in our deliberations," a Sears spokesman told the Daily Herald. "It is still very early in the process."
The Daily Herald also reports that as part of that process, Sears commissioned an economic impact study that concluded the company's departure could send shock waves through the suburbs, with the potential loss of about 6,000 Sears employees and another 9,000 ancillary jobs with nearby businesses, vendors and contractors.
In connection with its move from downtown Chicago twenty two years ago, Sears received both state and local incentives which are set to expire in 2012. A bill introduced in Springfield by state Rep. Fred Crespo, a former Hoffman Estates village board member, would continue property tax breaks for Sears for another 15 years in an effort to keep the company in Hoffman Estates, the Daily Herald reported.
The Sears report comes just days after Crain's Chicago Business disclosed that another major corporate employer in Hoffman Estates, AT&T Inc., has put its 1.5-million-square-foot campus on the market.
Saturday, May 7, 2011
Discount Chain Five Below Bursts on the Scene with 10 New Stores in Chicagoland
Five Below, a leading retailer of extreme-value merchandise for teens and pre-teens, stormed into the Chicago market with the grand opening of its first 10 stores in the region on Friday, May 6, 2011. The simultaneous debut of these 10 Chicago area stores represents the biggest one-day push into a new market in company history.
Five Below offers thousands of brand-name items and all the latest trends for teens, preteens and everyone in between at ultra low prices. All merchandise, including fashion accessories, DVDs and video games, sports equipment, home décor, toys, games and more, is priced at $5 or less.
Five Below has announced plans to open an additional 10 stores in Greater Chicago later this summer, bringing its total in the Chicagoland area to as many as 20 by year-end. Over the next few years, Five Below intends expand its presence in the Chicago area to include as many as 75 stores.
Five Below’s 10 new stores opening on May 6 are located in Chicago, Bradley, Crystal Lake, Countryside, Geneva, Joliet, Orland Hills, Rockford, and Vernon Hills, Illinois and in Merrillville, Indiana. To celebrate the grand openings, each store is giving free Five Below t-shirts with any purchase to the first 300 customers each day during opening weekend, five-cent hot dogs, and other prizes, including a $100 Five Below shopping spree.
Five Below offers thousands of brand-name items and all the latest trends for teens, preteens and everyone in between at ultra low prices. All merchandise, including fashion accessories, DVDs and video games, sports equipment, home décor, toys, games and more, is priced at $5 or less.
Five Below has announced plans to open an additional 10 stores in Greater Chicago later this summer, bringing its total in the Chicagoland area to as many as 20 by year-end. Over the next few years, Five Below intends expand its presence in the Chicago area to include as many as 75 stores.
Five Below’s 10 new stores opening on May 6 are located in Chicago, Bradley, Crystal Lake, Countryside, Geneva, Joliet, Orland Hills, Rockford, and Vernon Hills, Illinois and in Merrillville, Indiana. To celebrate the grand openings, each store is giving free Five Below t-shirts with any purchase to the first 300 customers each day during opening weekend, five-cent hot dogs, and other prizes, including a $100 Five Below shopping spree.
Wednesday, May 4, 2011
Motorola Solutions, Inc. Elects Brown Chairman
Motorola Solutions, Inc. announced Tuesday that CEO Greg Brown has been elected by its board of directors to the added role of chairman. Brown replaces Dave Dorman, who has been elected as lead independent director of the board.
“I want to thank Dave for his service to Motorola as its chairman over the past 3 years and, in particular, his leadership and guidance as Motorola planned and executed its successful separation into two companies,” Brown said. “I look forward to working with him in his role of lead independent director as we continue to build and grow our company.”
Said Dorman: “I am honored to have been chairman of Motorola, and Greg has my full support in his new role as he guides this company to greater success.”
Brown joined Motorola in 2003 and was elected to the company's board of directors in 2007. He became president and CEO of Motorola in January 2008. Since that time, he has served as CEO or co-CEO of Motorola. In addition to his responsibilities at Motorola Solutions, Brown is an active member of the civic and business communities. He recently was appointed by President Obama to the President’s Management Advisory Board. He is a member of the Business Council, Business Roundtable, Technology CEO Council, Commercial Club of Chicago and the Northwestern Memorial Hospital board. He is also on the executive committee of the US-China Business Council (USCBC).
Motorola Solutions is a leading provider of mission-critical communication products and services for enterprise and government customers.
“I want to thank Dave for his service to Motorola as its chairman over the past 3 years and, in particular, his leadership and guidance as Motorola planned and executed its successful separation into two companies,” Brown said. “I look forward to working with him in his role of lead independent director as we continue to build and grow our company.”
Said Dorman: “I am honored to have been chairman of Motorola, and Greg has my full support in his new role as he guides this company to greater success.”
Brown joined Motorola in 2003 and was elected to the company's board of directors in 2007. He became president and CEO of Motorola in January 2008. Since that time, he has served as CEO or co-CEO of Motorola. In addition to his responsibilities at Motorola Solutions, Brown is an active member of the civic and business communities. He recently was appointed by President Obama to the President’s Management Advisory Board. He is a member of the Business Council, Business Roundtable, Technology CEO Council, Commercial Club of Chicago and the Northwestern Memorial Hospital board. He is also on the executive committee of the US-China Business Council (USCBC).
Motorola Solutions is a leading provider of mission-critical communication products and services for enterprise and government customers.
Tuesday, May 3, 2011
DealADayOnline Acquired by BuyWithMe
Chicago-based DealADayOnline, a group buying and social commerce company focused on the Chicago marketplace, has been acquired by BuyWithMe (http://www.buywithme.com/). This acquisition further expands BuyWithMe’s rapidly growing footprint in the Chicago marketplace and across the United States. BuyWithMe currently offers high-quality daily deals in 13 of the largest cities in the U.S. (Austin, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Philadelphia, Phoenix, San Diego, San Francisco, Seattle and Washington D.C.) and is expected to double that footprint over the course of 2011.
“We are expanding rapidly in Chicago and our acquisition of DealADayOnline is a logical extension of that," said Jim Crowley, CEO of BuyWithMe, Inc. "DealADayOnline allows us to better meet the needs of our growing customer and merchant partners in the areas. We are delighted to welcome the DealADayOnline consumer and merchant community to the BuyWithMe family. We are also excited to help Chicagoans better discover and enjoy the many activities, destinations and experiences that are made possible by their local merchants."
“We’re very excited to join the BuyWithMe team. We pride ourselves on delivering a positive experience for merchants and consumers alike and those values are fully shared by BuyWithMe,” said Melissa Newman, CEO of DealADayOnline. “BuyWithMe is a clear and rapidly growing leader in this space, and our merchants and members will benefit from being a part of BuyWithMe’s larger community and capabilities which further accelerates our expansion in Chicago."
“We are expanding rapidly in Chicago and our acquisition of DealADayOnline is a logical extension of that," said Jim Crowley, CEO of BuyWithMe, Inc. "DealADayOnline allows us to better meet the needs of our growing customer and merchant partners in the areas. We are delighted to welcome the DealADayOnline consumer and merchant community to the BuyWithMe family. We are also excited to help Chicagoans better discover and enjoy the many activities, destinations and experiences that are made possible by their local merchants."
“We’re very excited to join the BuyWithMe team. We pride ourselves on delivering a positive experience for merchants and consumers alike and those values are fully shared by BuyWithMe,” said Melissa Newman, CEO of DealADayOnline. “BuyWithMe is a clear and rapidly growing leader in this space, and our merchants and members will benefit from being a part of BuyWithMe’s larger community and capabilities which further accelerates our expansion in Chicago."
Friday, April 29, 2011
The Oprah Store to Close Up Shop in Chicago
As the filming of the final segment of The Oprah Winfrey Show brings to a close an era in Chicago, another symbol of Oprah Winfrey’s presence in Chicago will also soon be history. The Oprah Store, across the street from the West Loop studio where Oprah tapes her talk show, will close at the end of May.
The Oprah Winfrey Show is ending May 25 after 25 years in Chicago. The Oprah Store, which opened in January 2008, sells souvenirs and boutique items. According to the Chicago Tribune, “Fans have bought everything from "O" apparel and umbrellas to coffee mugs, baby bibs and pet collars.” The store also is the location for "Oprah's Closet," an armoire filled with clothes and shoes that once belonged to Oprah, the proceeds from which go to charity.
A smaller Oprah Store in Chicago's Water Tower Place also will close.