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Monday, March 09, 2009



CHICAGOBUSINESS

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Daily Business Briefing

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TOP HEADLINES Monday, March 9, 2009

· U.S. to closely watch Illinois stimulus spending

· Judge denies Blagojevich request to remove Fitzgerald

· CF Industries rejects buyout offer

· Judge chews out Chicago police chief

· McD's cautions on 1Q revenue, margins

· Stocks falter as investors battle uncertainty

· Job losses hurt suburban apartment occupancy, rents

· General Growth to ask bondholders for extension: report

· Fortune Brands chief gets $8.3M in 2008 

· Quinn signals support for tax hike, high-speed rail: Hinz blog

· Rockit expanding to Wrigleyville: Taking Names blog

· Big player for Bulls.com: Sam Smith: Biz of Sports blog 

Final Markets

Dow Jones

6,547.05

-79.89

-1.21%

NASDAQ

1,268.64

-25.21

-1.95%

Crain's Index

49.95

-0.52

-1.03%

» View Other Top Headlines

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The info session for the Brennan School of Business is your opportunity to see everything we have to offer. The programs. The faculty. The convenient location. Come to Dominican University's Main Campus on Saturday, March 21st 10 a.m. till 12 noon. See for yourself. CLICK HERE

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· Which company is Chicago's #1?

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· Check, Please! visits Joe's Seafood, Prime Steak & Stone Crab

· Chicago Business Today - March 9

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USA Today attributes claims of E-Verify errors to interest groups, but government reports support criticism

Media Matters - USA Today attributes claims of E-Verify errors to interest groups, but government reports support criticism:

"USA Today attributed the claim that federal databases used by the E-Verify program are 'riddled with errors that could result in millions of workers being wrongly identified as not authorized for work' to 'business groups and immigrant advocacy groups.' In fact, federal government reports also state that E-Verify databases contain errors.USA Today attributed the claim that federal databases used by the E-Verify program are 'riddled with errors that could result in millions of workers being wrongly identified as not authorized for work' to 'business groups and immigrant advocacy groups.' In fact, federal government reports also state that E-Verify databases contain errors."

Obama overturns Bush policy on stem cells

Obama overturns Bush policy on stem cells

Reversing Bush policy, President Barack Obama on Monday cleared the way for a significant increase in federal dollars for embryonic stem cell research and promised no scientific data will be "distorted or concealed to serve a political agenda."

Blagojevich fails to get prosecutors off his case

Blagojevich fails to get prosecutors off his case

A federal judge has turned down a request from impeached former Illinois Gov. Rod Blagojevich to have Chicago's top federal prosecutor and his staff thrown off the corruption case against him.

General Motors more open to bankruptcy reorganisation | The Australian

General Motors more open to bankruptcy reorganisation The Australian

While the company still wants to avoid bankruptcy, the new view represents a reversal from GM's position late last year, when it sought a federal bailout. The change in thinking, combined with the disclosure that GM's auditor has raised "substantial doubt" about the carmaker's ability to keep going, appears to move GM closer to the possibility it will file for reorganisation.

Citi spends $3.5M to reward Smith Barney brokers

Citi spends $3.5M to reward Smith Barney brokers

Embattled banking giant Citigroup Inc. spent about $3.5 million to provide rewards for top-performing advisers at its Smith Barney brokerage unit.

The payments are in lieu of three trips Citi usually plans for its top revenue-generating advisers in the division. Those trips were canceled earlier in the year as Citi attempts to slash costs amid the ongoing economic downturn. Citi has posted five consecutive quarterly losses and received $45 billion in government assistance during the ongoing credit crisis and recession.

The Politics Behind Obama's Embryonic Stem Cell Research Decision - God & Country (usnews.com)

The Politics Behind Obama's Embryonic Stem Cell Research Decision - God & Country (usnews.com)

Host of Fox's media analysis show claimed "[w]e don't have any idea" what Biden said to AFL-CIO, but transcript is available

Media Matters - Host of Fox's media analysis show claimed "[w]e don't have any idea" what Biden said to AFL-CIO, but transcript is available

Jon Scott, host of Fox News' weekly media analysis program, Fox News Watch, claimed that Vice President Joe Biden's appearance at the AFL-CIO executive council meeting was "closed to the press," adding, "We don't have any idea what he said there." In fact, the White House released a transcript of Biden's AFL-CIO speech, and "a pool of print reporters" reportedly covered the speech at the request of the White House.