It's a market fit for a monkey
David Roeder: It's hard to figure. Wall Street is wailing. Oil is the new gold. You couldn't get a cheap airfare if you provided your own snacks and sickness bag. Hedge fund managers are on the lam or barring the gates against angry rich mobs wanting their money back. Yet the Chicago Sun-Times stock-picking monkey, Mr. Adam Monk, is one happy animal.
David Roeder: It's hard to figure. Wall Street is wailing. Oil is the new gold. You couldn't get a cheap airfare if you provided your own snacks and sickness bag. Hedge fund managers are on the lam or barring the gates against angry rich mobs wanting their money back. Yet the Chicago Sun-Times stock-picking monkey, Mr. Adam Monk, is one happy animal.
Paul Stuart finds perfect fit on Oak St.
Paul Stuart, the high fashion menswear store that gave up its home in the John Hancock Center, is returning to the neighborhood in space that should make its rental dollars go further.
Trib staff told to pinch pennies
For some employees at the Chicago Tribune, a memo Monday was the last straw. Make that the last Post-it note, pen and notebook.
Heavy equipment in high gear
Let Wall Street obsess about whether the market's declines Thursday and Friday technically put the indexes into bear territory. I know of a sector where the fundamental news is positive, yet most of the stocks in it are trading well below their highs for this year.
Let Wall Street obsess about whether the market's declines Thursday and Friday technically put the indexes into bear territory. I know of a sector where the fundamental news is positive, yet most of the stocks in it are trading well below their highs for this year.
State files lawsuit against Countrywide
David Roeder: Melissa White of Schaumburg says she fits none of the stereotypes of people who took out subprime loans. "I read the documents. I am educated. I actually brought a friend with me to the closing. I was told I didn't need a lawyer," said the 44-year-old special education teacher.
David Roeder: Melissa White of Schaumburg says she fits none of the stereotypes of people who took out subprime loans. "I read the documents. I am educated. I actually brought a friend with me to the closing. I was told I didn't need a lawyer," said the 44-year-old special education teacher.
Striking out near Wrigley?
David Roeder: They might still be in a good mood in Wrigleyville after last weekend's Cubs sweep of the White Sox, but that doesn't mean they'll go easy on a developer's plan for a hotel and apartments next to the ballpark. Wrigleyville Ald. Tom Tunney (44th) said the developer hasn't made his case to the community. Steven Schultz wants to replace small retail buildings and parking lots on the south side of Addison Street with two buildings that would rise to 105 feet, about as tall as Wrigley Field's rooftop.
David Roeder: They might still be in a good mood in Wrigleyville after last weekend's Cubs sweep of the White Sox, but that doesn't mean they'll go easy on a developer's plan for a hotel and apartments next to the ballpark. Wrigleyville Ald. Tom Tunney (44th) said the developer hasn't made his case to the community. Steven Schultz wants to replace small retail buildings and parking lots on the south side of Addison Street with two buildings that would rise to 105 feet, about as tall as Wrigley Field's rooftop.
Corn-ucopia: Corn Products sold for $4.4 billion
David Roeder: The $4.4 billion sale of Corn Products International Inc. is all about the "corn value chain." Never heard of it? Consumers are on the tail end of the chain, gripping tighter each time the price of groceries goes up. Bunge Ltd., a premier producer of fertilizer and soybean-based foods, is taking over Westchester-based Corn Products to gain access to its line of starches and sweeteners.
David Roeder: The $4.4 billion sale of Corn Products International Inc. is all about the "corn value chain." Never heard of it? Consumers are on the tail end of the chain, gripping tighter each time the price of groceries goes up. Bunge Ltd., a premier producer of fertilizer and soybean-based foods, is taking over Westchester-based Corn Products to gain access to its line of starches and sweeteners.
This stock may have wings to soar
David Roeder: Investors chase the next "big thing." The next hot cell phone, the next miracle cure, the next life-changing invention like, oh, satellite radio. It's odd, then, that more investors aren't reaching for a public company with an innovative product bound for a receptive market.
David Roeder: Investors chase the next "big thing." The next hot cell phone, the next miracle cure, the next life-changing invention like, oh, satellite radio. It's odd, then, that more investors aren't reaching for a public company with an innovative product bound for a receptive market.
Developer: Buyers still crave Roosevelt high-rises
David Roeder: Reports of the death of the housing market in Chicago have been greatly exaggerated, the developer of the Near South Side's largest new neighborhood said Thursday. Gerald Fogelson said he's still selling condominiums in his Central Station development and he has enough confidence to lay the groundwork for two new high-rises worth about $800 million. By the end of the year, Fogelson said, he expects to sell more than $400 million in condos for 2008, a pace he said is down slightly from prior years.
David Roeder: Reports of the death of the housing market in Chicago have been greatly exaggerated, the developer of the Near South Side's largest new neighborhood said Thursday. Gerald Fogelson said he's still selling condominiums in his Central Station development and he has enough confidence to lay the groundwork for two new high-rises worth about $800 million. By the end of the year, Fogelson said, he expects to sell more than $400 million in condos for 2008, a pace he said is down slightly from prior years.
Hotel 'darn close' to deal
David Roeder: Office builder Hines Interests LP has negotiated a deal to bring a new hotel downtown near the Merchandise Mart. Hines is close to final agreement on selling part of the River Bend property, at the northeast corner of Lake and Canal, to Oak Brook-based Harp Group Inc. Harp would own a 26-story hotel that would go up on the site's north end, next to an office tower Hines plans to start building this fall.
David Roeder: Office builder Hines Interests LP has negotiated a deal to bring a new hotel downtown near the Merchandise Mart. Hines is close to final agreement on selling part of the River Bend property, at the northeast corner of Lake and Canal, to Oak Brook-based Harp Group Inc. Harp would own a 26-story hotel that would go up on the site's north end, next to an office tower Hines plans to start building this fall.
Storms pumping up crop prices
David Roeder: 'Rain makes grain" is the slogan at the Chicago Board of Trade's agricultural markets. Except when the rain comes too early in the growing season or in excessive abundance. Then it's more like "rain's a pain," especially if you're rooting for prices to fall. The floods and storms besieging the Midwest have caused losses in lives and property, but they're about to have a deep economic impact as well.
David Roeder: 'Rain makes grain" is the slogan at the Chicago Board of Trade's agricultural markets. Except when the rain comes too early in the growing season or in excessive abundance. Then it's more like "rain's a pain," especially if you're rooting for prices to fall. The floods and storms besieging the Midwest have caused losses in lives and property, but they're about to have a deep economic impact as well.
Cook County foreclosures are worse than U.S. avg.
The nation's foreclosure wave crashed into Chicago's shores in May. RealtyTrac Inc., a marketplace for foreclosed properties, said Cook County foreclosures rose 57 percent in May compared with the same month a year ago. The increase exceeded the 48 percent year-over-year increase in national foreclosures as reported by the firm. The Chicago market, however, continued to fare better than troubled areas of California and Florida, states that account for nine of the top 10 metro areas ranked by foreclosure rates.
The nation's foreclosure wave crashed into Chicago's shores in May. RealtyTrac Inc., a marketplace for foreclosed properties, said Cook County foreclosures rose 57 percent in May compared with the same month a year ago. The increase exceeded the 48 percent year-over-year increase in national foreclosures as reported by the firm. The Chicago market, however, continued to fare better than troubled areas of California and Florida, states that account for nine of the top 10 metro areas ranked by foreclosure rates.
City to help pay for trailer park rehab
David Roeder: Chicago's only trailer park is getting a $286.5 million makeover. The Harbour Point Estates at 4000 E. 134th St. would re-emerge as a site for 953 permanent homes, from single-family to condos, under a city-brokered deal with a subsidy attached to it. Because the location needs extensive construction of streets and sewers, city officials Tuesday agreed to a $26.5 million contribution.
David Roeder: Chicago's only trailer park is getting a $286.5 million makeover. The Harbour Point Estates at 4000 E. 134th St. would re-emerge as a site for 953 permanent homes, from single-family to condos, under a city-brokered deal with a subsidy attached to it. Because the location needs extensive construction of streets and sewers, city officials Tuesday agreed to a $26.5 million contribution.
Think small when investing in banks
David Roeder: Putting your money in the bank, as in opening a savings account or a certificate of deposit, is a perfectly smart thing to do. Investing in the bank, as in buying its stock, is something else entirely. That many banks are shaky is a measure of how deeply the housing crisis is rattling the financial system.
David Roeder: Putting your money in the bank, as in opening a savings account or a certificate of deposit, is a perfectly smart thing to do. Investing in the bank, as in buying its stock, is something else entirely. That many banks are shaky is a measure of how deeply the housing crisis is rattling the financial system.
