Farmers' fields now being used for industrial expansion
David Roeder: Many people wonder if the spread of subdivisions into farmers' fields will continue once the market recovers. It probably will in many places, but the collapse of residential demand provides some land for industrial expansion.
David Roeder: Many people wonder if the spread of subdivisions into farmers' fields will continue once the market recovers. It probably will in many places, but the collapse of residential demand provides some land for industrial expansion.
Turnout strong, but sales may not last
Thanksgiving weekend provided a fast start to the holiday shopping season, but retailers said Sunday they haven't forgotten that they'll need to work hard to clear their shelves. For shoppers, that means discounts and promotions will continue as stores try to eke out a profit in a grim economy.
Thanksgiving weekend provided a fast start to the holiday shopping season, but retailers said Sunday they haven't forgotten that they'll need to work hard to clear their shelves. For shoppers, that means discounts and promotions will continue as stores try to eke out a profit in a grim economy.
Best deals aren't at the malls
Pity the people who stormed the malls at the crack of dawn Friday. The discounts were alluring, but there are better deals to be had elsewhere, especially if you stay home and log on to a brokerage account. You could buy stock as a gift for the kids, and you don't have to get up at 5 a.m. for the privilege.
Pity the people who stormed the malls at the crack of dawn Friday. The discounts were alluring, but there are better deals to be had elsewhere, especially if you stay home and log on to a brokerage account. You could buy stock as a gift for the kids, and you don't have to get up at 5 a.m. for the privilege.
Sears Tower may lose key tenant -- in 2012
David Roeder: It looks as if Sears Tower will lose one of its oldest and largest tenants, although the financial pain may be deferred for its New York-based ownership. The consulting firm Ernst & Young is hustling to complete by year-end a deal to relocate to an office building under construction at 155 N. Wacker, sources said. With about 387,000 square feet at Sears, E&Y accounts for about 10 percent of the building's space.
David Roeder: It looks as if Sears Tower will lose one of its oldest and largest tenants, although the financial pain may be deferred for its New York-based ownership. The consulting firm Ernst & Young is hustling to complete by year-end a deal to relocate to an office building under construction at 155 N. Wacker, sources said. With about 387,000 square feet at Sears, E&Y accounts for about 10 percent of the building's space.
Developer Warren Barr gives up on high-rise
David Roeder: Condo developer Warren Barr is grievously disappointed that he can't pursue a project that was to be his mark on the skyline. But he can be thankful he is exiting the deal financially intact. Barr has sold property at 830 S. Michigan where he planned an 80-story building. The financial crisis and overbuilt housing market have rendered those plans moot for probably at least three years, so Barr concluded now was the time to get out. "I really wanted to do this building, but the market today just makes it impossible," he said. An insider said the property sold for around $18 million.
David Roeder: Condo developer Warren Barr is grievously disappointed that he can't pursue a project that was to be his mark on the skyline. But he can be thankful he is exiting the deal financially intact. Barr has sold property at 830 S. Michigan where he planned an 80-story building. The financial crisis and overbuilt housing market have rendered those plans moot for probably at least three years, so Barr concluded now was the time to get out. "I really wanted to do this building, but the market today just makes it impossible," he said. An insider said the property sold for around $18 million.
Mark Cuban sued by SEC for insider trading
The Securities and Exchange Commission accused Mark Cuban, owner of the Dallas Mavericks and bidder for the Chicago Cubs, of insider trading Monday. The SEC charged in a lawsuit that Cuban dumped 600,000 shares of stock in an Internet search company, Mamma.com Inc., after learning in 2004 that it was raising money by issuing more shares.
The Securities and Exchange Commission accused Mark Cuban, owner of the Dallas Mavericks and bidder for the Chicago Cubs, of insider trading Monday. The SEC charged in a lawsuit that Cuban dumped 600,000 shares of stock in an Internet search company, Mamma.com Inc., after learning in 2004 that it was raising money by issuing more shares.
Stocks down but dividends steady
David Roeder: If you're fortunate enough to have money to save, you could put it in a bank certificate of deposit and collect more than 3 percent for a year if you shop around. The yield is guaranteed and won't disturb your sleep. But if you want a year of living a little dangerously, think hard about the Dow Jones industrial average. The 30 stocks are the market's microcosm.
David Roeder: If you're fortunate enough to have money to save, you could put it in a bank certificate of deposit and collect more than 3 percent for a year if you shop around. The yield is guaranteed and won't disturb your sleep. But if you want a year of living a little dangerously, think hard about the Dow Jones industrial average. The 30 stocks are the market's microcosm.
Goose Island keeps Clybourn brew pub
David Roeder: Raise a toast to the lousy economy. The all-but-official recession means Goose Island Beer Co. won't have to close its original brew pub at 1800 N. Clybourn. The Chicago-based brewer's landlord on Clybourn, Deerfield-based investor Charles Malk, had refused to renew the Goose Island lease that expires at year-end.
David Roeder: Raise a toast to the lousy economy. The all-but-official recession means Goose Island Beer Co. won't have to close its original brew pub at 1800 N. Clybourn. The Chicago-based brewer's landlord on Clybourn, Deerfield-based investor Charles Malk, had refused to renew the Goose Island lease that expires at year-end.
GM: Gloom multiplied
David Roeder: The financial reports from the auto industry Friday paint a stark portrait of the unthinkable. Detroit as we know it is a dying force in the American economy. Its continued downsizing and the possible bankruptcy of one or more of the erstwhile "Big Three" will become as threatening to the economy as the housing crisis. We could be destined for a "double-dip" recession, with the auto layoffs knocking us flat just as the credit markets recover and consumers wobble to their feet.
David Roeder: The financial reports from the auto industry Friday paint a stark portrait of the unthinkable. Detroit as we know it is a dying force in the American economy. Its continued downsizing and the possible bankruptcy of one or more of the erstwhile "Big Three" will become as threatening to the economy as the housing crisis. We could be destined for a "double-dip" recession, with the auto layoffs knocking us flat just as the credit markets recover and consumers wobble to their feet.
Cubs' billion-dollar dreams long gone
David Roeder: The Chicago Cubs, who bombed out in this years playoffs, may be no closer to getting $1 billion in a sale than they are to a World Series. Sources said Friday that the credit crisis has trimmed what investors are willing to pay Tribune Co. for the team. Tribune Chairman Sam Zell has been trying to hold firm on his billion-dollar asking price, offering seller financing.
David Roeder: The Chicago Cubs, who bombed out in this years playoffs, may be no closer to getting $1 billion in a sale than they are to a World Series. Sources said Friday that the credit crisis has trimmed what investors are willing to pay Tribune Co. for the team. Tribune Chairman Sam Zell has been trying to hold firm on his billion-dollar asking price, offering seller financing.
Daley plan gives Block 37 extra $12 mil. for hotel
David Roeder: Downtown's Block 37 project, already one of the most tax-subsidized developments in city history, is in line for more money. Mayor Daley proposed Wednesday a $12 million subsidy for a new hotel on the block. The proposal, introduced to the City Council, calls for a 354-room Loews hotel. The $12 million joins $42.4 million the city already has committed to Block 37 from its Central Loop tax-increment financing district.
David Roeder: Downtown's Block 37 project, already one of the most tax-subsidized developments in city history, is in line for more money. Mayor Daley proposed Wednesday a $12 million subsidy for a new hotel on the block. The proposal, introduced to the City Council, calls for a 354-room Loews hotel. The $12 million joins $42.4 million the city already has committed to Block 37 from its Central Loop tax-increment financing district.
Will Vrdolyak ties hurt developer?
David Roeder: Chicago developer Bill Smith has had as much of an impact on State Street as anybody since Marshall Field and Potter Palmer. His hard-driving deal-making combined with a preference for good architecture made him a favorite for City Hall- brokered development.
David Roeder: Chicago developer Bill Smith has had as much of an impact on State Street as anybody since Marshall Field and Potter Palmer. His hard-driving deal-making combined with a preference for good architecture made him a favorite for City Hall- brokered development.
Traders have already 'priced in' Obama victory
David Roeder: The only short-term boost the stock market could get from today's election is if John McCain wins. That's not a partisan argument. It's just the way the market works with the political realities. Polls nationwide show the likelihood of a Barack Obama victory is huge. Money managers follow the polls, too, and began thinking weeks ago that the party in the White House will change.
David Roeder: The only short-term boost the stock market could get from today's election is if John McCain wins. That's not a partisan argument. It's just the way the market works with the political realities. Polls nationwide show the likelihood of a Barack Obama victory is huge. Money managers follow the polls, too, and began thinking weeks ago that the party in the White House will change.
