By Jin Wu
CORRECTION: An earlier version of this story incorrectly stated the number of health care entrepreneurs that had begin working in MATTER’s incubator. The correct number is now included below.
Governor Bruce Rauner, Senator Dick Durbin and Mayor Rahm Emanuel marked the official opening of MATTER, Chicago’s new entrepreneurship and innovation incubator in the Merchandise Mart for digital healthcare, medical devices, diagnostics and biopharma start-ups, to “get Illinois’ healthcare technology booming.”
MATTER, the not-for-profit incubator, has already got its first groups of members; more than 100 healthcare entrepreneurs moved into the open space last week and dozens more will move in in a couple weeks, according to MATTER’s CEO Steven Collens.
By Joe Musso
The Chicago Auto Show is the largest of its kind on the continent, where automakers from around the world descend upon McCormick Place to debut the newest models. This year, a prevailing theme is “hi-tech,” with companies like General Motors enticing potential buyers with tech-driven in-car advancements. And some are designed to reach a new demographic of car buyer.
By Lucy Ren
U.S. import prices in January declined by the greatest amount since December 2008, driven by plunging fuel prices and the strengthening of the U.S. dollar.
Import prices fell 2.8 percent from December, missing the economists’ forecast average of a 3.1 percent drop compiled by Bloomberg. Continue reading
By Yasufumi Saito
The December quarter GDP, gross domestic product, released by the Commerce Department recently shows that the U.S. economy slackened a bit, but continued a healthy recovery step by step. It’s worth dissecting.
A mixed layer of economic activities such as imports, government spending and most importantly, personal consumption resulted in the outcome. Let’s take a look at those points.
By Meredith Wilson
Acco Brands Corp. saw fourth quarter profit fall 12.5 percent because of a strengthening U.S. dollar and retail consolidation, but exceeded analyst estimates for the quarter. Cost-cutting measures throughout the year led the company to post an 18.8 percent rise in profit for 2014.
Lake Zurich-based Acco, one of the world’s largest office supply manufacturers and wholesalers, reported $43.9 million, or 38 cents per diluted share, in the quarter ended Dec. 31. In the prior-year quarter, the company earned $50.2 million, or 43 cents per share. Analysts had estimated that Acco’s diluted EPS for the quarter would be 35 cents per share.
By Lucy Ren
Governor Bruce Rauner declares in a federal lawsuit that the “fair share” union fees are “unconstitutional,” as the Supreme Court has repeated recognized from recent cases that “compelling a state employee to financially support a public sector union seriously impinges upon the free speech and association interests protected by the First Amendment.”
Steven Schwinn, associate professor at the John Marshall Law School, opined that if the case goes eventually to the Supreme Court, Rauner will win. “The Supreme Court will ineffably hold that the fair share fees are violating the First Amendment,” he said. “I disagree with that personally, but I think he’s probably right about that.” Continue reading
By Kira Boyd
Vinyl records are a growing niche among young people. However, even though record sales are rising, they still account for only six percent of total music sales.
By Andrew Fowler
The JOLTS report from the Bureau of Labor Statistics is showing positive signs that the economy is growing. The survey of employers released Tuesday, measures the number of job openings at the end of December. The estimated 1 million job openings increase from a year ago is good news for those seeking employment.
By Bethel Habte
CDW Corp., a Fortune 500 technology solutions provider, reported lower fourth quarter profit than in its year-earlier quarter. Analysts responded positively to the report, however, since the company’s adjusted numbers showed a profit increase in the same period. The market responded with a modest gain for the stock.
By GAAP standards, generally accepted accounting principles mandated by the SEC, fourth quarter profit fell to $51.8 million from $60 million in the year-earlier quarter, a 13.7 percent decrease.
By Alysha Khan
Restaurant Week can be a boon for some establishments trudging through the slow winter months but for others, it can be a costly burden.
This annual winter culinary event, now in its eighth year, allows Chicagoans to dine for cheap at more than 300 restaurants, including some of the city’s best spots. Diners can order from prix fixe three-course menus starting at $22 for lunch and $33 or $44 for dinner, not including beverages, tax and gratuity. The event runs January 30 through February 12.