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Mike Siegel/Seattle Times/TNS

Boeing's former chief technical pilot on 737 Max indicted on fraud charges

Business / Business News /

A federal grand jury in Texas on Thursday indicted Mark Forkner, 49, Boeing’s former chief technical pilot on the 737 Max program, charging him with fraud.

The indictment alleges he deceived both the Federal Aviation Administration and airline customers by withholding information about the Max’s new flight control system, called the ...Read more

Warner Bros. Pictures/Warner Bros. Pictures/TNS

LeBron James' Hollywood company SpringHill valued at $725 million in new deal

Business / Business News /

LeBron James' Hollywood ambitions are getting a major financial alley-oop.

James' entertainment firm, the SpringHill Co., has secured a private equity-led investment to fuel the Los Angeles Lakers star's growth in film, TV, video games, consumer products and live events.

The SpringHill Co. on Thursday said it has made a deal for a group led by...Read more

Nancy Stone, Chicago Tribune/Chicago Tribune/TNS

Walgreens to invest $5.2 billion in VillageMD and add more store clinics in underserved communities

Business / Business News /

Walgreens Boots Alliance plans to invest $5.2 billion in VillageMD, which provides primary care to patients, and increase the number of Village Medical clinics in its stores to 1,000 by 2027, with half of those in medically underserved communities.

The investment will give Walgreens a majority ownership stake — 63% — in VillageMD. Walgreens...Read more

Erika Schultz/Seattle Times/TNS

'All hands on deck' at Seattle and Tacoma ports as supply chain bottlenecks persist

Business / Business News /

Seattle and Tacoma port authorities said Wednesday it's "all hands on deck" as they work to address cargo ship congestion in Puget Sound.

"We are seeing unprecedented times in the global supply chain," said John Wolfe, CEO of The Northwest Seaport Alliance, which oversees container traffic for both the Port of Seattle and Port of Tacoma.

Wolfe...Read more

Michael Sohn/Getty Images North America/TNS

Michael Hiltzik: Moderna's founders are now billionaires, but where are the doses for the rest of the world?

Business / Business News /

Let's raise a glass of congratulations to Noubar Afeyan, Robert Langer and Timothy Springer, three newly minted members of the Forbes magazine billionaires roster.

The trio owe their new wealth to the pandemic. More specifically, to the biotech company Moderna's achievement in developing and marketing one of the most efficacious vaccines for ...Read more

Dreamstime/Dreamstime/TNS

Consumer Confidential: Supply-chain surcharge? Sherwin-Williams is latest company to add a sneaky fee

Business / Business News /

Hugo Granadino recently stopped by the Sherwin-Williams paint store in Inglewood to pick up some rollers and brushes. He’s repainting the den of his South Los Angeles home.

After the purchase, Granadino, 40, took a look at his receipt and was surprised to see a 4% “supply chain charge.”

There’d been no advance warning that a surcharge ...Read more

Michael Laughlin/Sun Sentinel/TNS

'Want to sell your house?' Complaints increase about unsolicited real estate texts

Business / Business News /

Here’s how desperate some real estate agents and investors are to find new homes to sell in Florida’s red-hot marketplace: They are sending out unsolicited text messages to find potential sellers.

“Hope you are having a wonderful day. By the way, do you own the house at 26840 SW 142nd Ct,” reads a message sent Friday to Wladamiro ...Read more

Nigel Wallace/Dreamstime/TNS

Christmas toy shortages loom as cargo clogs major UK port

Business / Business News /

Sirens blared as cranes lifted containers from the Ever Genius, a ship stretching four times the width of Buckingham Palace along a berth this week at the U.K.’s Port of Felixstowe. The warning shrieks for British dockworkers might well have been alarms for the global economy.

Handling more than a third of the U.K.’s ocean freight, ...Read more

Brian Cassella/Chicago Tribune/TNS

Tribune Tower Residences are complete, with amenities ranging from an indoor golf simulator to herb garden

Business / Business News /

Stepping inside the historic Tribune Tower at 435 N. Michigan Ave., one is faced with a lot less construction, and a lot more polish.

The CIM Group and Golub & Co., who together bought the property from Tribune Media for $240 million in 2016, allowed walk-throughs of the iconic building Wednesday — showing how the renderings of Tribune Tower ...Read more

Robyn Beck/AFP/AFP/TNS

US initial jobless claims drop to lowest since March 2020

Business / Business News /

Applications for U.S. state unemployment benefits fell last week to the lowest since March 2020, showing employers are hanging onto their workers in a tight labor market.

Initial unemployment claims in regular state programs totaled 293,000 in the week ended Oct. 9, a decrease of 36,000 from the prior week, Labor Department data showed Thursday...Read more

Amanda Snyder/Seattle Times/TNS

Seattle rent hike rules to become law without mayor's signature

Business / Business News /

Two new Seattle tenant protections will become law without Mayor Jenny Durkan's blessing.

The Seattle City Council passed the bills last month. The first requires landlords to give six months' notice of any rent increase, up from the current two months. The second requires landlords to pay certain tenants relocation assistance if the landlord ...Read more

Steve Ringman/TNS/TNS

Real estate Q&A: Can we build another house on my side yard?

Business / Business News /

Q: My property’s large side yard is more than big enough to fit another house. I want to deed part of my property to my son so he can build his home there. Should I get my mortgage lender’s permission to transfer the vacant land? Is there anything else I need to do? —Gregg

A: If you live in a community association, you probably cannot do ...Read more

Detroit Free Press/TNS

They're trying to save Detroiters from eviction before it's too late

Business / Business News /

Tenesa Sanders walks up to an apartment in Midtown Detroit on a Saturday afternoon, with clipboard in hand and flyers about a free legal clinic happening later that day for people facing eviction and ways to get rental assistance.

She buzzes in to try and reach the tenant, whom she says could be evicted this week, but gets no response.

"He ...Read more

Allen J. Schaben/Los Angeles Times/TNS

Auction of 'The One' -- L.A.'s biggest new mansion -- delayed amid allegations of a power grab

Business / Business News /

LOS ANGELES — A planned foreclosure auction of the largest modern home in the country has been delayed after billionaire lender Don Hankey was accused of maneuvering to take control of the troubled Bel-Air project and leave other debt holders out in the cold.

"The One," a 105,000-square-foot unfinished mansion once marketed for $500 million, ...Read more

Brian Cassella/Chicago Tribune/TNS

O'Hare runway work will soon be finished after 16 years, and it could mean fewer flight delays

Business / Business News /

CHICAGO — The modernization of O’Hare International Airport’s runways, designed to reduce delays at the notoriously congested airport, is nearing completion after 16 years and $6 billion worth of work.

Construction to extend the final runway will be largely complete by the end of September, according to the Chicago Department of Aviation....Read more

Stephen M. Dowell/Orlando Sentinel/TNS

Dinosaur poop, drones and butlers are among unusual things insured in Florida

Business / Business News /

ORLANDO, Florida — At more than 26 inches long and 20-plus pounds, Barnum is the world record holder for the largest recorded pieces of feces ever made by a carnivore, laid by a Tyrannosaurus rex as much as 70 million years ago.

Named for the paleontologist who discovered the T. rex, Barnum Brown, the piece of coprolite — as fossilized poop...Read more

Justin Sullivan/Getty Images North America/TNS

Elizabeth Holmes trial: Walgreens paid $100 million to Theranos, invested $40 million more: 'I didn't want to believe that the things I believed weren't true'

Business / Business News /

Drugstore giant Walgreens paid Palo Alto, California, blood-testing startup Theranos $100 million, and invested $40 million more in the failed company, a former Walgreens executive testified at Theranos founder Elizabeth Holmes’ criminal fraud trial Wednesday.

Former Walgreens chief financial officer Wade Miquelonleft Walgreens before the ...Read more

Carolyn Cole/Los Angeles Times

Port truckers win $30 million in wage theft settlements

Business / Business News /

One of the world's largest trucking companies, XPO Logistics, agreed Tuesday to pay $30 million to settle class-action lawsuits filed by hundreds of drivers who said they earned less than minimum wage delivering goods for major retailers from the ports of Los Angeles and Long Beach.

The combined settlements, approved by U.S. District Judge R. ...Read more

JAY JANNER/Austin American-Statesman/TNS

Michael Dell: To remain successful, Dell Technologies must 'be bold'

Business / Business News /

Dell Technologies is investing in innovation as it looks toward new frontiers — and the technology needed to fuel them.

The Round Rock, Texas-based technology giant is working to innovate in a number of areas, including the edge computing market, 5G sector and telecommunications, company executives said Wednesday during the annual Dell ...Read more

Abel Uribe/Chicago Tribune/TNS

Passenger train service in Midwest could get major expansion under federal concept

Business / Business News /

Passenger train service across the Midwest could get a huge boost in the coming decades, with multiple new routes and more frequent trains running out of Chicago, under a concept envisioned by the Federal Railroad Administration.

The concept, unveiled Wednesday, is in early stages and is intended to be a 40-year framework. It also depends on ...Read more