Articles filed under Business

• Kraft mulls expanding Granite City plant Feb 12, 2013 12:00 AM
  
  

   

• Prospect Heights bistros seeking video gambling permits, owner says Feb 12, 2013 12:00 AM
  Three new bistros planned for Prospect Heights will target an "upscale" clientele, serve only patrons over 21 years old and seek video gambling permits from the state, a partner in Blackhawk Restaurants told the city council Monday. The restaurants, called Penny's, will serve soups, salads, sandwiches and desserts and will request city licenses to serve beer and wine.
  

   
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  Wal-Mart medical clinics trail CVS generating 39% growth Feb 12, 2013 12:00 AM
  In 2007, Lee Scott, then Wal-Mart Stores Inc.'s chief executive officer, trumpeted plans to open as many as 2,000 in-house medical clinics by mid-2012. He called the strategy "a great opportunity for our business." Today Wal-Mart has fewer than 130 clinics and is closing locations faster than it's opening them. Meanwhile, CVS Caremark Corp., which already has about 630 MinuteClinics, is opening about three a week, and aims to have 1,500 within four years. It's promoting the clinics heavily on TV and the Web. While industry figures are hard to come by, CVS says its clinic business has grown at a compound annual rate of 39 percent in the last six years.
  

   

• $600,000 settlement planned over Grant’s rebate flap Feb 12, 2013 12:00 AM
  Grant's Appliance has agreed to a $600,000 settlement involving a 2010 lawsuit involving $500 rebates that customers never received if they spent $399 or more at their stores.
  

   

• Reynolds American 4Q profit falls on charges Feb 12, 2013 12:00 AM
  Reynolds American, the nation's second-biggest tobacco company, saw its fourth-quarter profit fall 54 percent on pension and trademark-related charges and other costs.But earnings for the maker of Camel, Pall Mall and Natural American Spirit cigarettes, excluding one-time charges, rose about 6 percent as consumers bought more smokeless tobacco brands like Grizzly and Kodiak. Smokeless tobacco sales, as well as higher prices and productivity gains, offset cigarette volume declines and increased promotional spending.
  

   

• Camping World set to expand in Wisconsin, Florida Feb 12, 2013 12:00 AM
  
  

   

• Navistar completes sale of stake in India truck ventures Feb 12, 2013 12:00 AM
  
  

   

• Portola to upgrade 2 plants, close Batavia facility Feb 12, 2013 12:00 AM
  Portola Packaging said it will make $12 million in capital investments to its Kingsport, Tenn. and Tolleson, Ariz. facilities. In addition, the manufacturer of stock and custom tamper-evident plastic closures and containers for dairy, juice and other food segments will close a facility in Batavia, affecting about 76 employees.
  

   

• Grainger January sales up 8 percent Feb 12, 2013 12:00 AM
  W.W. Grainger reported January sales increased 8 percent over the same period last year, the company said in a release.
  

   

• Coca-Cola’s profit rises as volume grows overseas Feb 12, 2013 12:00 AM
  Coca-Cola says its profit rose 13 percent in the fourth quarter as the world's biggest beverage company sold more of its drinks overseas. The Atlanta-based company said global sales volume rose 3 percent, driven by international growth. In the flagship North American market, volume rose just 1 percent, boosted by its Powerade sports drinks and bottled teas. Soda volume declined 2 percent.
  

   

• Japan’s Nikkei jumps on weaker yen Feb 12, 2013 12:00 AM
  Tokyo's Nikkei 225 led Asian stocks higher Tuesday as the yen weakened after a possible candidate for Bank of Japan governor voiced support for easier monetary policy. Investors shrugged off a nuclear test by North Korea.The Nikkei, which was closed Monday for a public holiday, jumped 1.9 percent to close at 11,369.12 as the weaker yen boosted export stocks. South Korea's Kospi fell 0.3 percent to 1,945.79 while benchmarks in Indonesia, Thailand and India rose. Markets in mainland China, Hong Kong, Singapore, Malaysia and Taiwan were closed for Lunar New Year holidays.
  

   

• Texas Gov. Perry raids California businesses Feb 12, 2013 12:00 AM
  Texas Gov. Rick Perry brought his brash pitch for jobs to California on Monday as he sought to lure businesses to his state with the promise of lower taxes and fewer regulations. Perry's private meetings with business leaders in the San Francisco Bay Area weren't his first effort to tempt companies to leave the Golden State, but this three-day trip has certainly drawn more attention than previous attempts, and the failed Republican presidential candidate welcomed the spotlight.
  

   

• Oil falls below $97 amid ample supply Feb 12, 2013 12:00 AM
  The price of oil slipped back below $97 a barrel Tuesday after a sharp rise the day before as supply remains ample and demand tepid. Benchmark oil for March delivery was down 30 cents to $96.70 at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract on Monday gained $1.31 to finish at $97.03 a barrel on the Nymex as the euro strengthened against the dollar.
  

   

• Gary airport looking for private partner for funds Feb 12, 2013 12:00 AM
  Officials with the Gary airport in northwest Indiana are looking for a private partner to invest in the airport. The Times of Munster reports the Gary-Chicago International Airport Authority voted 5-1 on Monday voted to create a committee with the city of Gary to come up with recommendations for a public-private partnership. Airport and city officials say they aren't seeking to privatize the airport as the city of Chicago is planning to do at nearby Midway International Airport.
  

   

• VW reports 17.4 pct increase in January sales Feb 12, 2013 12:00 AM
  Germany's Volkswagen AG says it started off the year with brisk car sales, as deliveries outside Europe — particularly in China — helped more than offset declines in its home market. Europe's largest automaker said Tuesday overall January sales were up 17.4 percent to 491,900 from 419,100 in January 2012.
  

   
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  Late-payment rate on US mortgages hits 4-year low Feb 12, 2013 12:00 AM
  Homeowners who took on mortgages well after the housing bubble burst are doing a better job keeping up with payments. Credit reporting agency TransUnion said Tuesday the trend is helping bring down the U.S. mortgage delinquency rate to the lowest level in four years. TransUnion says the percentage of mortgage holders at least two months behind on their payments fell to 5.19 percent in the last three months of 2012.
  

   
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  UN agency moves to kill aircraft battery exemption Feb 12, 2013 12:00 AM
  A U.N. agency that sets global aviation safety standards is moving to prevent aircraft batteries like the one that caught fire on a Boeing 787 last month from being shipped as cargo on passenger planes, people familiar with the effort said. Over the past few days, the members of the International Civil Aviation Organization's dangerous goods committee have proposed revoking an exemption that permitted lithium ion aircraft batteries as heavy as 77 pounds to be shipped on passenger planes, the sources told The Associated Press.
  

   
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  Need surgery? Good luck getting hospital cost info Feb 12, 2013 12:00 AM
  Want to know how much a hip replacement will cost? Many hospitals won't be able to tell you, at least not right away — if at all. And if you shop around and find centers that can quote a price, the amounts could vary astronomically, a study found. Routine hip replacement surgery on a healthy patient without insurance may cost as little as $11,000 — or up to nearly $126,000. That's what researchers found after calling hospitals in every state, 122 in all, asking what a healthy 62-year-old woman would have to pay to get an artificial hip.
  

   
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  Dell closes above offer for first time since proposed LBO Feb 12, 2013 12:00 AM
  Dell Inc., which last week agreed to be taken private, closed above the offer price for the first time since the announcement after the computer maker's largest outside shareholder said the proposed deal undervalues it. Southeastern Asset Management on Feb. 8 sent a letter to Dell's board expressing its "extreme disappointment" with the buyout offer of $13.65 a share announced on Feb. 5. Based on an analysis included in the letter, Southeastern said Dell is worth about $24 a share.
  

   
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  Maker’s Mark cutting alcohol volume in its bourbon Feb 12, 2013 12:00 AM
  The producer of Maker's Mark bourbon is cutting — likely permanently — the amount of alcohol in each bottle to stretch every drop of the famous Kentucky whiskey. The alcohol volume is being lowered from its historic level of 45 percent to 42 percent — or 90 proof to 84 proof.The brand known for its square bottles sealed in red wax has struggled to keep up with demand that more than doubled the past seven years. Distribution has been squeezed and the popular premium brand has had to curtail shipments to some overseas markets.