CHICAGO, Jan. 17, 2012 (PRNewswire) -- Accounting firm SS&G today announced the opening of a downtown Chicago office to complement its nearby Des Plaines accounting office.
SS&G, Inc. is a full-service certified public accounting, business advisory, and management consulting firm encompassing assurance, tax, employee benefits, and restaurant financial services. It also provides a broad scope of services through its health care, wealth management, and payroll entities. It is a founding member firm of The Leading Edge Alliance, an international association of independently owned accounting and consulting organizations.
The new location comes one year after SS&G entered the Chicagoland marketplace through the merger with Ahlbeck & Co. Sixteen staff members from Russell Novak & Company LLP, including directors Richard Hanson, CPA; Robb Zerfass, CPA; and Barry Jay Epstein, Ph.D., CPA, join SS&G's more than 425 professionals, strengthening the firm's position as one of the region's preeminent certified public accounting and business advisory firms.
"A year ago, we determined we could achieve growth in areas of specialization, including restaurants, health care, real estate, contractors, manufacturers, and nonprofit organizations. Our bet paid off," said Gary S. Shamis, CPA, M.Acc., managing director of SS&G.
"Our business is growing, and the decision to add the downtown location was made to foster increasing opportunities. We are very pleased to welcome this group of outstanding professionals to the SS&G family and to continue to grow roots in the Chicagoland market."
SS&G is the 42nd largest CPA firm in the United States, according to Accounting Today. The firm operates offices in Ohio, Kentucky, Illinois, and North Carolina, where it opened an office in October.
Monday, January 23, 2012
Thursday, January 5, 2012
Bloomingdale's to Close Store in Oak Brook
Macy's Inc. has announced that it will close five Macy's and four Bloomingdale's stores that are underperforming, including a Bloomingdale's store in Oak Brook. The Macy's stores being closed are in Topeka, Kansas; Laurel, Maryland; Parma, Ohio; Antioch, Tennessee; and Texas City, Texas. The other Bloomingdale's stores closing are are in Atlanta; North Bethesda, Maryland; and in the Mall of America in Bloomington, Minnesota.
The 93,000 square foot Bloomingdale's store in Oak Brook opened in 2003 and currently employs 50 associates. Macy's says that employees displaced by store closings may be offered positions in nearby stores where possible. Regular full-time and part-time employees who are laid off due to the store closings will be provided severance benefits.
The company previously announced that it will open a new Macy's store in Gurnee. The 140,000 square feet store is slated to open in spring 2013 and will employ approximately 200 associates.
"We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations," said Terry J. Lundgren, Macy's chairman, president and chief executive officer. "This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity."
Clearance sales will begin at the stores Sunday, January 8 and run for approximately 10 weeks.
The 93,000 square foot Bloomingdale's store in Oak Brook opened in 2003 and currently employs 50 associates. Macy's says that employees displaced by store closings may be offered positions in nearby stores where possible. Regular full-time and part-time employees who are laid off due to the store closings will be provided severance benefits.
The company previously announced that it will open a new Macy's store in Gurnee. The 140,000 square feet store is slated to open in spring 2013 and will employ approximately 200 associates.
"We continue to be committed to maintaining a healthy portfolio of stores that allows us to focus on growth from our best and most productive locations," said Terry J. Lundgren, Macy's chairman, president and chief executive officer. "This requires us to make some difficult decisions to close stores that no longer meet our performance requirements, as well as to open stores where we see opportunity."
Clearance sales will begin at the stores Sunday, January 8 and run for approximately 10 weeks.
Tuesday, January 3, 2012
Chicago Potato Chip Maker Vitner's Sold to California Firm
C.J. Vitner Company, a leading manufacturer and distributor of snack foods in the greater Chicago market, has been sold to California-based Snak King Corp.
C.J. Vitner, founded in 1926, is one of the oldest family-owned-and-operated snack food companies in the country. It operates a 138,000 square foot manufacturing facility on 50 acres in Freeport, Illinois and has distribution centers in Chicago, Indiana, and Wisconsin. Vitner's customers include many of the nation's largest retail, supermarket and convenience store chains, as well as leading regional retailers in the Midwest.
Snak King is one of the largest independent snack food manufacturers in the United States. Its 277,000 square foot facility in the City of Industry, California serves the national market with organic, kosher, Hispanic and traditional snacks under The Whole Earth, El Sabroso, Granny Goose, Jensen's Orchard and Snak King brands, as well as private label products.
Barry C. Levin, Chairman and Chief Executive Officer of Snak King said,"We have known the Vitner family for many years, both as distributors of El Sabroso products in the Midwest and as highly respected leaders in our industry. We are very proud that they have chosen to become part of the Snak King organization and are entrusting to us their heritage of more than eight decades of quality." The current Vitner management team will continue to oversee manufacturing and distribution, Mr. Levin said.
Bill Vitner, Chairman and CEO of C.J. Vitner Co., said, "Joining with Snak King enables Vitner's to deliver a truly nationwide solution to our customers in terms of products, distribution and services. Snak King has been at the forefront of our industry in quality and innovation, and we are delighted to have joined their team."
Terms of the transaction were not disclosed.
C.J. Vitner, founded in 1926, is one of the oldest family-owned-and-operated snack food companies in the country. It operates a 138,000 square foot manufacturing facility on 50 acres in Freeport, Illinois and has distribution centers in Chicago, Indiana, and Wisconsin. Vitner's customers include many of the nation's largest retail, supermarket and convenience store chains, as well as leading regional retailers in the Midwest.
Snak King is one of the largest independent snack food manufacturers in the United States. Its 277,000 square foot facility in the City of Industry, California serves the national market with organic, kosher, Hispanic and traditional snacks under The Whole Earth, El Sabroso, Granny Goose, Jensen's Orchard and Snak King brands, as well as private label products.
Barry C. Levin, Chairman and Chief Executive Officer of Snak King said,"We have known the Vitner family for many years, both as distributors of El Sabroso products in the Midwest and as highly respected leaders in our industry. We are very proud that they have chosen to become part of the Snak King organization and are entrusting to us their heritage of more than eight decades of quality." The current Vitner management team will continue to oversee manufacturing and distribution, Mr. Levin said.
Bill Vitner, Chairman and CEO of C.J. Vitner Co., said, "Joining with Snak King enables Vitner's to deliver a truly nationwide solution to our customers in terms of products, distribution and services. Snak King has been at the forefront of our industry in quality and innovation, and we are delighted to have joined their team."
Terms of the transaction were not disclosed.
Bank of America Terminating Some Small Business Credit Lines
According to an article in the Los Angeles Times, Bank of America Corp., is reacting to pressure from regulators to raise capital and reduce credit risks by terminating the lines of
credit to some small business owners.
The LA Times reports Bank of America is demanding that some small business customers pay off their credit line
balances in full instead of continuing to make monthly payments. If the customers can't
pay the entire balance, the bank is presenting new arrangements at significantly higher interest rates than the original
credit lines.
A BofA spokesman told the LA Times that "the aim was to reduce Bank of America's risks and to bring
the loan terms in line with more stringent standards imposed after the
2007 mortgage meltdown and 2008 credit crisis."
Read the article.