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.
Tuesday, December 13, 2011
Chicago Accounting Firm Gets Top Grades
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."
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."
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.