How small short-term loans draw vulnerable borrowers into big long-term debt
By Siri Bulusu KANSAS CITY, Mo.– Elliott Clark was working a shift as a security guard when his daughter called to tell him his wife had broken her ankle in two places. She would need surgery to implant a metal plate and two screws in her foot. Over the following six months, his wife rehabilitated […]
Englewood sources talent from community
By Siri Bulusu For Rachel Bernier-Green, business and baking were always inextricably linked. As a child, the Chicago native learned math by following baking instructions from her mother and was selling brownies and homemade potpourri to classmates. A strong aptitude for math led Green to business school and a successful accounting job. “Even before I […]
Navistar shares slump on first-quarter loss
By Siri Bulusu Navistar International Corp. shares tumbled after the company, citing “softer industry conditions” and lower export sales, reported a substantial first-quarter loss. The commercial and military truck manufacturer disclosed a net loss of $33 million, or 40 cents per diluted share, a narrower deficit than the year-ago quarter’s $42 million, or 52 cents […]
Roscoe Village businesses brace as Western Avenue overpass demolition kicks off
By Siri Bulusu After years of delays and false starts, the crumbling Western Avenue overpass in Roscoe Village is under demolition, but some area businesses are worried their shops will come down with the bridge. The 17-month and $26 million reconstruction of the overpass kicked off Tuesday with its permanent closing. Upon completion in 2017, […]
Unemployment Insurance claims show unexpected rise
By Siri Bulusu The number of Americans filing for unemployment benefits unexpectedly increased last week, although underlying trends continue to suggest a strengthening labor marker. For the week ending March 3, the U.S. Department of Labor said Thursday, initial unemployment insurance claims rose by 6,000 to 278,000, surpassing consensus expectations of Bloomberg analysts who anticipated […]
Leading air-filter maker faces headwinds from strong dollar
By Siri Bulusu Donaldson Company, Inc. reported softer than expected second quarter earnings Tuesday, citing “stagnant” marketplace conditions and pressure from the strong U.S. dollar. For the quarter ending Jan. 31, the air-filtration company’s net income fell to $38.0 million, or 28 cents per diluted share, from $48.0 million, or 34 cents per diluted share, […]
U.S. home-builder confidence buckles under pressure of high labor costs
By Siri Bulusu Confidence among U.S. home-builders reached a nine-month low in February, said a U.S. trade group Tuesday, after a series of lukewarm index figures fell shy of expectations in recent months. The report stated the Housing Market Index, compiled by the National Association of Home Builders and Wells Fargo, dropped 3 points to 58 […]
Autonomous car features have some buyers reaching for steering wheel
By Siri Bulusu Technology comes first at the Chicago Auto Show this week with car makers showing off autonomous safety features, ranging from self-braking systems to radar cruise-control. Semi-autonomous safety features, such as anti-lock breaks and airbags, are standard staples in cars, indicating increased dependence on built-in safety features, but 2016 marks the official advent […]
Analysts share positive outlook for Boeing as share price struggles
By Siri Bulusu Despite disappointing 2016 outlook estimates and cuts to defense spending, the majority of analysts remain optimistic about the future of Boeing Co. due to the company’s substantial order backlog and new aircraft demand from emerging markets. Following a jarring fourth-quarter earnings release in late January, the Chicago-based aerospace giant’s shares fell a […]
Residents seeking O’Hare noise relief say mayor offered none
By Siri Bulusu Mayor Rahm Emanuel disappointed a residents’ coalition Wednesday by failing, the group said, to offer solutions to increased air traffic noise over neighborhoods near O’Hare International Airport. After two years of requesting his attention, the Fair Allocaton of Runways Coalition finally snared the mayor at City Hall to review new data suggesting […]
