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Christopher & Banks does not meet its own expectations in second quarter

Business / Business News /

MINNEAPOLIS -- Switching to a new e-commerce system hurt Christopher & Banks' second-quarter results, but the company's CEO said the change was needed for the women's retailer to progress in the long term.

After the company reported worse-than-expected results Tuesday, shares of its stock plunged 21.4 percent, closing at $1.62.

Results for the...Read more

Tribune Media inks deal to sell Tribune Tower to developer

Business / Business News /

CHICAGO -- Los Angeles-based developer CIM Group has agreed to buy Tribune Tower for up to $240 million, marking the end of media ownership for the historic building and the beginning of a new chapter, likely as part of a mixed-use redevelopment.

Chicago developer Golub & Co partnered with CIM to buy the tower and adjacent property from Tribune...Read more

Callaway Golf to acquire Toulon Design

Business / Business News /

SAN DIEGO -- Callaway Golf said it's buying Toulon Design, a premium putter maker owned by former TaylorMade club guru Sean Toulon.

The move brings Toulon, who has more than 80 patents, to Callaway as a senior vice president and general manager of its Odyssey putter brand.

"Sean is one of the most experienced and knowledgeable leaders in the ...Read more

Lyft and Uber launch programs to cater to seniors

Business / Business News /

SAN FRANCISCO -- Uber and Lyft spent the last four years cornering the millennial market. Now they're going after a new demographic: senior citizens.

Both ride-hailing companies recently announced partnerships with service providers that allow older customers to book rides through a phone operator, bypassing smartphone apps entirely.

The ...Read more

SEC awards $22 million to Monsanto whistleblower

Business / Business News /

ST. LOUIS -- A former Monsanto financial executive who blew the whistle on the company's accounting practices has been awarded a $22.4 million share of the government's settlement with Monsanto, according to his lawyer.

The executive, who was not named, told the Securities and Exchange Commission about misleading accounting surrounding sales of...Read more

Amazon building another Chicago-area warehouse

Business / Business News /

CHICAGO -- A month after announcing a new e-commerce fulfillment center in southwest suburban Chicago, Amazon is adding yet another facility in the region.

The 850,000-square-foot warehouse, currently under construction in the village of Monee, will be Amazon's fourth in Will County.

"Hundreds and hundreds" of employees at the warehouse will ...Read more

Which workers are most full of themselves?

Business / Business News /

Who knew private cooks have such big heads? Or that doctors are so humble?

In a new survey from PayScale.com, the online salary information company ranked occupations by ego size. It asked 383,000 people how strongly they agree with the statement, "I am the top performer at my company for jobs similar to mine," with the highest scores suspected...Read more

Target's top marketer leaving to become president of Uber

Business / Business News /

MINNEAPOLIS -- Target Corp.'s chief marketing officer, Jeff Jones, is becoming the new president of Uber.

Jones will be responsible for Uber's ridesharing operations, marketing and customer support, Travis Kalanick, chief executive of San Francisco-based Uber said in a statement.

Jones has been one of the most visible and best-known members of...Read more

Sears bringing paint back to home improvement shelves

Business / Business News /

CHICAGO -- Sears is getting back into the paint business, hoping an increase in home remodeling projects will mean more home-improvement sales.

Paint and accessories will be available at 23 stores before Sears brings them to stores nationwide, the struggling retailer said in a news release Tuesday.

"After stepping away from the paint business ...Read more

Apple must pay $14.5 billion in back taxes to Ireland, the EU says

Business / Business News /

WASHINGTON -- The European Union on Tuesday ordered Ireland to collect up to $14.5 billion in back taxes, plus interest, from Apple Inc., after ruling that the technology giant cut an illegal deal that allowed it to pay almost no taxes from 2003 to 2014 on profits for sales throughout the 28-nation region.

The decision, which follows a two-year...Read more

Apple ordered to pay Ireland back taxes that could reach billions

Business / Business News /

The European Commission has ordered Apple to pay back taxes to Ireland, saying the country gave the company illegal tax benefits worth up to 13 billion euros, or $14.5 billion.

Ireland has a corporate tax rate of 12.5 percent; the commission said in its press release Tuesday that after two years of investigations, it found that the "selective ...Read more

812,000 pay-TV subscribers cut the cord in the second quarter of 2016

Business / Business News /

The flight of pay-TV customers continues.

In a grim reminder of the challenges facing media companies, an estimated 812,000 subscribers pulled the plug on their pay-television service in the second quarter, according to a study by consulting firm SNL Kagan.

The number represents a decline in the number of homes that received a bundle of video ...Read more

Strategist: Can't remember the last time the election meant this much for markets

Business / Business News /

NEW YORK -- Meet the new boss, same as the old boss.

That's what financial markets are predicting for the world's largest economy ahead of the November election, according to Bank of America Merrill Lynch Head of Global Rates and Currencies Research David Woo. If those predictions turn out to be wrong, however, the fallout could be ...Read more

Balancing Act: School's on: Working parents take a team approach

Business / Business News /

At the beginning of each assignment Deloitte accountants take on, the team meets to discuss their worklife concerns. One parent may need to come in early and leave by 5 p.m. to pick up a child from aftercare. Another parent may want to start his day at 10 a.m. and stay past 6 p.m. Under a new approach to family-friendly work arrangements at all ...Read more

Liz Reyer: Making teams accountable

Business / Business News /

Q. I have an associate whose team seems to drop the ball pretty often, and who then deflects responsibility and points it at my team. How can I get him to be more accountable? I'm not trying to assign blame, just have my team treated fairly and be able to effectively plan and deliver our work.

--Alain, 38, IT development lead

A. Use a ...Read more

Obama finds an ally in Wal-Mart, whose stores he once shunned

Business / Business News /

WASHINGTON -- As a freshman senator with his eye on the presidency, Barack Obama said he'd never shop at a Wal-Mart and held the company up as an emblem of corporate greed.

Today, Wal-Mart Stores Inc. is one of Obama's most reliable corporate allies, a go-to partner that's backed the White House on more than a dozen business initiatives, ...Read more

Your Office Coach: Partially deaf worker doesn't want to miss a beat

Business / Business News /

Q: Despite repeatedly being told that I'm a valuable employee, I sometimes feel that I'm not treated with respect. Because of a serious hearing loss, I wear hearing aids in both ears. Although my manager has installed adaptive equipment and adjusted my job duties, there are times when my special requirements are ignored.

Periodically, all ...Read more

Diane Stafford: Your mom doesn't work here so clean up after yourself

Business / Business News /

A co-worker and I were grousing about dirty dishes left in the office sink, and this proverb came to mind: A courtyard common to all will be swept by none.

No philosophy degree is needed to understand that. Look at litter along the streets. Dog poop in the park. Paper towels on the restroom floor.

Not my problem. Not my job. I didn't put it ...Read more

Rex Huppke: What if managers behaved like presidential candidates?

Business / Business News /

One thing our presidential candidates are not doing at this juncture is setting a good example for workplace leadership.

Being a politician and being a boss or manager are two different things, of course, but leaders in the workplace certainly take cues from other high-profile bosses, be they politicos or CEOs.

So let's take a moment to ...Read more

ABC Supply to buy Chicago drywall distributor

Business / Business News /

MILWAUKEE -- ABC Supply says it has an agreement to buy L&W Supply, a Chicago-based distributor of drywall, ceiling tiles, steel framing and other materials, for $670 million.

ABC, based in Beloit, says it will be one of the firm's largest acquisitions to date.

After the sale, ABC will operate more than 700 locations in 49 states, with annual ...Read more