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Crain's Chicago Business
40 minutes for Starbucks coffee? Customers and workers fume over fewer staff.
Starbucks baristas say they are confronting an alarming issue: Drink orders are coming in fast, but there are fewer people to prepare them. Subscribe and get unlimited access to Crain's Chicago Business. The famed and fast expanding ice cream shop extends its footprint to three states outside its hometown. At...
Distressed River North hotel sold to Florida investor
A Florida real estate investor has purchased a distressed Holiday Inn Express in River North for 55% less than it was worth more than a decade ago, betting that the downtown hospitality market will continue its post-COVID recovery. Subscribe and get unlimited access to Crain's Chicago Business. Franklin Partners picked...
Rainbow Cone opens its first location in Michigan
The Original Rainbow Cone, the famed ice cream shop born in the South Side neighborhood of Beverly, has opened its first location in Michigan. Subscribe and get unlimited access to Crain's Chicago Business. At least four states are set to follow Chicago's lead, voting on measures to make restaurants pay...
Chinese firms turn from 'panda' to 'skunk' as U.S. tensions flare
For most of his 30 years running a Chinese-owned company in the U.S., Ni Pin felt welcomed. Subscribe and get unlimited access to Crain's Chicago Business. Democrats needed three tries to pass $1.1 billion revenue plan just before 5 a.m. Take a look at how much all schools are getting...
Gatorade features Michael Jordan, Caitlin Clark and other star athletes in its biggest ad campaign ever
Taking perspiration from its past, Gatorade is reviving its classic “Is It In You?” ad campaign. A new ad that premiered Tuesday put colorful beads of sweat on a new class of athletes including Caitlin Clark, Sydney McLaughlin-Levrone, Jayson Tatum, Josh Allen and A’ja Wilson. The colorful sweat was an iconic image of the original “Is It In You” campaign, which debuted in 1998. Michael Jordan, a star of those ads then, narrates the new spot.
Restaurant workers' battle for higher minimum wage goes national
U.S. restaurants grappling with high costs and penny-pinching consumers are making a tough pitch to voters: that boosting pay to millions of workers is a bad idea. Subscribe and get unlimited access to Crain's Chicago Business. Parts of Europe are becoming an issue as well. Meanwhile, McDonald’s franchisees said the...
Vext Science pins hopes on Ohio market
Vext said medical sales slipped in Ohio as consumers prepare to switch to adult-use products. Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF) reported its revenue slipped slightly for the first quarter ending March 31, 2024. Vext told investors that revenue was $8.3 million in the first quarter down sequentially from $8.4 million and was also lower than last year’s first-quarter revenue of $9.1 million.
Once again working through the night, lawmakers finalize $53.1 billion budget
After a near-derailment and an all-nighter to wrap up the General Assembly’s spring session, supermajority Democrats in the Illinois House gave final legislative approval to the state budget as the sun rose Wednesday morning. Subscribe and get unlimited access to Crain's Chicago Business. Take a look at how much...
American Airlines cuts profit outlook as commercial chief departs
American Airlines Group Inc. disclosed the departure of its chief commercial officer and cut its profit guidance heading into the crucial summer travel season, unsettling announcements that sent shares tumbling across the US airline industry. Subscribe and get unlimited access to Crain's Chicago Business. The city has unveiled the first...
CPS releases schools budget under new funding formula as $391M deficit looms
Chicago Public Schools unveiled its fiscal year 2025 schools budget today, the first that will do away with enrollment-based budgeting and take on a new need-based formula. Subscribe and get unlimited access to Crain's Chicago Business. The deal brokered by the governor’s office also creates state funds for training first...
Cook County Health opens neurology ICU
Cook County Health has opened a new Neurosciences ICU unit at John H. Stroger Jr. Hospital, saying it is able to provide state-of-the-art neurological care to patients, regardless of their ability to pay. This exclusive Health Pulse content is only available to Health Pulse subscribers. Get a full year of...
Lawmakers move to pause — then further regulate — CO2 pipeline development
SPRINGFIELD — After state regulators rebuffed several proposed carbon transport projects over the past year, lawmakers have moved to formally ban new projects until the federal government sets forth new safety rules. Create your free account to continue reading. The $53 billion spending plan, expected to pass this afternoon...
Opinion: Building a 'beyond silicon' workforce
America’s next frontier has always been built by hard-working women and men inspired to move our nation forward. The railroads that link Chicago to every corner of our country were laid by those at the forefront of a new era. Those who dreamed of seeing their work among the stars propelled America to the moon. The web browser, born in the state of Illinois, was developed by those who believed that with enough effort, and enough know-how, a technological revolution could transform the way the world works, plays, and communicates.
Local investor buys distressed offices next to Oakbrook Center mall
Local developer Franklin Partners has raised its bet on the recovery of the sluggish office sector, buying a distressed office complex next to Oakbrook Center mall for 20% less than it was sold for nearly a decade ago. Subscribe and get unlimited access to Crain's Chicago Business. Crescent Heights has...
Proposal for Evanston housing cooperative puts the emphasis on cooperation
Residents of seven new homes in Evanston would watch each other's children, practice yoga together, and share gardening and snow shoveling tasks while owning their half-million-dollar homes cooperatively under a developer's proposal that is up for City Council approval in late June. Subscribe and get unlimited access to Crain's Chicago...
Kaegi tips his hand on downtown assessments: Crain's Daily Gist podcast
Newly released West Loop assessments hint at Fritz Kaegi’s rosier view of downtown offices. Crain’s commercial real estate reporter Danny Ecker talks with host Amy Guth about the first batch of numbers that point to what the Cook County assessor thinks happened with downtown office building values over the past three years.
Blue Owl, Lunate buy minority stake in Linden Capital Partners
Blue Owl Capital Inc. and Lunate Capital bought a minority stake in Linden Capital Partners, a health-care private equity firm, as part of their joint venture targeting investments in mid-sized asset managers. Subscribe and get unlimited access to Crain's Chicago Business. The new owner of West Suburban Medical Center denies...
South Loop skyscraper development site handed over to lender
A Miami real estate firm has surrendered a South Loop development site next to the city’s tallest apartment building to a lender. Subscribe and get unlimited access to Crain's Chicago Business. Rachel Herzog is a commercial real estate reporter for Crain’s Chicago Business. She joined Crain’s in 2023 from...
Following sale of Oak Park hospital, staff report quality, safety issues
Following the 2022 sale of West Suburban Medical Center, young doctors at the Oak Park hospital are reporting the facility is in decline as quality of care and patient safety, along with other workplace issues, intensify under new ownership intent on cutting costs. Subscribe and get unlimited access to Crain's...
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