Medill Reports: Business
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wwgrainger

W.W. Grainger beats quarterly expectations

by Eman Shurbaji

Industrial supply company W.W. Grainger reported a 2 percent profit gain from the same time last year, despite a slumped Canadian performance.


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Chicago Infrastructure Trust is chugging along

by Aimee Keane

With one energy efficiency project underway and another project in the open bidding process, the mayor’s public-private funding initiative called the Chicago Infrastructure Trust is slowly building steam.


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GrubHub is tight-lipped after agreement with NY AG over tips

by Abby Sun

 GrubHub Inc., the Chicago-based taker of restaurant orders, declined to say Thursday whether its agreement to give customers' online tips to food deliverers applies outside New York.  


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Medicare's $3.4B payout to Illinois providers says little about cost trends

by Osahon Okundaye

More than half of Medicare’s $3.4 billion insurance reimbursements to Illinois health care providers in 2012 went to just a handful of medical practice areas, according to data released by the Obama administration last week.


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Cosi headquarters will move from Chicago area to Boston by end of year

by Aimee Keane

Cosi Inc., Deerfield, Ill.-based fast casual restaurant company, announced Wednesday a net loss of 23 cents per share. President and CEO RJ Dourney announced the company will move its headquarters to Boston by the end of 2014.


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Abbott earnings slip but beat forecast

by Kerry Cardoza

Earnings of Abbott Laboratories, Lake County-based pharmaceutical and medical products company, slipped but still were better than forecasted, despite ongoing repercussions from a product recall last year and unfavorable foreign exchange rates.


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Med Testing company accused of frauds received Illinois's highest Medicare reimbursements in 2012

by Osahon Okundaye

Quest Diagnostics LLC, a leading provider of medical testing services to physicians, was the biggest recipient of Medicare reimbursements in Illinois in 2012, totalling nearly $34 million, according to data released Tuesday by the Obama administration. The company, based in New Jersey, has fended off major fraud claims in recent years.


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Housing starts rise, especially in the Midwest

by Paulo Cabral Filho

Housing starts and building permits rose in March, especially in the Midwest after the severe winter depressed building.


Kristin A Kim UNEMP Chart Final

Jobless claims lowest since recession

by Kristin April Kim

Jobless claims in the U.S. fell sharply to the lowest levels since the start of the 2007 recession, indicating upward progress in the labor market.


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Northern Trust's stock slipped after 1st quarter earnings

by Abby Sun

Northern Trust Corp. shares came under pressure Tuesday after the Chicago trust bank reported lower-than-expected first quarter earnings.


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Rising food costs pull consumer prices higher

by Kerry Cardoza

The March consumer price index rose 0.2 percent, according to a report released Tuesday by the Bureau of Labor Statistics. Experts predict inflation rates should remain stable for now.


Wholesale inventaries and sales

U.S. wholesale sales and inventories in February show no economic growth

by Abby Sun

U.S. wholesale sales and inventories in February showed only the barest signs of economic growth. Economists blamed the severe winter and expected to see improvement in the March report.   


Progressive Monthly Net Income Chart

Progressive profit up 4%, despite increasing loss reserve

by Kristin April Kim

Progressive Corp. delivered a 4% increase in first quarter profit despite increasing its loss reserve loss.


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Chicago unemployment rises to 9%

by Eman Shurbaji

Bureau of Labor Statistics report shows a decrease in unemployment in most metropolitan areas and states for January and February. Others, like Chicago and Illinois, continue to struggle with unemployment.  


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Medicare paid $27 million to 20 Chicago Docs in 2012

by Osahon Okundaye

Medicare paid $26m to 20 Chicago Docs in 2012


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Mayor boasts quality of life in Chicago as draw for businesses

by Kerry Cardoza and Aimee Keane

Mayor Emanuel spoke on a Politico-led panel in the Loop Wednesday, promoting Chicago as a city primed for business. A preceding panel featuring Chicago tech leaders focused on the relationship of public sector infrastructure with private sector ideas.


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4.2 million job openings available in U.S.

by Osahon Okundaye

U.S. job openings grew to 4.2 million at the end of February from 3.9 million at the end of January, according to the Bureau of Labor Statistics. The growth was driven by more openings in retail, business services and professional services.


CARGILLLINC

Cargill reports lower third quarter earnings

by Paulo Cabral Filho

Cargill Inc. reported a 28 percent drop in net earnings in its third quarter ended February 28. Although not a publicly-held company, Cargill chooses to disclose its results because of its size and its importance to the world of agribusiness.


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Billy Corgan's Highland Park tearoom strives for the offbeat

by Matt McKinney

Billy Corgan opened a tearoom in downtown Highland Park two years to liven up the neighborhood.


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‘What the Traveler Saw’ nears end of 10-year journey

by Shu Zhang

Laurel Stradford has made a tough decision to close her Hyde Park international gift shop by the end of the year. Her shop is a victim of rising Hyde Park rents and competitive pressure from bigger local and online retailers.


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Frango and cash: Did Frango manufacturing really come back to Chicago?

by Alex Norman

On the 7th-floor viewing kitchen of the Macy's store on State Street, workers can be seen through a glass pane churning out a batch of Chicago’s signature candy: Frango mints. In 2006, Terry Lundgren, CEO of Macy’s Inc., announced candy making would one day return to Chicago. Did he deliver?


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Despite pressures abroad, ADM keeps global focus

by Lauren Larson

Archer Daniels Midland has made global expansion a priority, and in spite of several recent setbacks, analysts say the company is ably navigating the waters of worldwide operations.


AmerVogelPodcast

Reaching the unbanked; getting care from walk-in clinics and dealing with dangerous water towers

by Britt Vogel and Robin Amer

In this edition of Medill Week in Review, we discuss community banks’ efforts to bring in people who don't have checking account. We also explore the growing number of walk-in clinics springing up around Chicago and we take a look at why some of Chicago's iconic water towers are coming down.


CVSCLINIC

Walk-in clinics expected to double in number despite consumer hesitancy

by Britt Vogel

While the number of retail health clinics in the U.S. is expected to double in the next two years, many consumers are wary of the quality of care they receive at these convenient care centers.


Unbanked

Banking the unbanked isn't easy

by Lingjiao Mo

For many banks, reaching out to customers who don’t bank at all can be a daunting task. Looking for more growth, some local banking institutions have tried to lure the unbanked with services such as check accounts and small loans. Such moves open up a potentially big market but carry risks as well.


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As it bleeds money, US Postal Service mulls getting into banking

by Matt McKinney

The United States Postal Service hopes banking services will deliver it from a growing financial hole. But first it must get past banks and conservative lawmakers.