Chicago Sun-Times :: Business

Retailers not playing around with dismal sales report

FROM STAFF AND WIRE REPORTS — Fri, 5 Dec 2008 04:00 CST

Macy's, Gap, Nordstrom, J.C. Penney, Target, Abercrombie & Fitch and a host of other retailers reported double-digit percentage declines in November sales from a year ago, reflecting both a quirk in the retail calendar and a worsening economy. The miserable November marked the weakest month since at least 1969 amid deepening fears that the critical holiday period could be the most dismal in decades.

Bernanke: more action needed to cut foreclosures

BY ASSOCIATED PRESS — Fri, 5 Dec 2008 04:00 CST

Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ease the housing crisis, foreclosures still remain "too high" with adverse consequences for struggling homeowners, squeezed lenders and the broader economy, Bernanke said in remarks to a Fed conference on housing finance.

Williams ready for morning challenges

Fri, 5 Dec 2008 04:00 CST

Lewis Lazare: Maybe it doesn't rank up there with tapping Alaska Gov. Sarah Palin as the Republican vice presidential nominee, but a lot of people in the know in the Chicago radio biz didn't see John Williams coming. By almost all accounts, WGN-AM (720) General Manager Tom Langmyer's decision to install mid-afternoon host John Williams in the all-important morning drive slot (starting Dec. 15) at Tribune Co.'s news/talk radio outlet was a surprise.

Blogger takes a year to do all things Oprah-approved

BY SARAH TEREZ ROSENBLUM Talk2Us@CenterstageChicago.com — Fri, 5 Dec 2008 04:00 CST

If you've heard anything about LivingOprah.com blogger Robyn Okrant, you probably fall into one of two mistaken camps. "One, that I'm an Oprah fanatic," says the Lincoln Square resident. "Or the other, that I'm out to disparage Oprah."

Banks borrow less, investment firms more

BY ASSOCIATED PRESS — Fri, 5 Dec 2008 04:00 CST

WASHINGTON---- Commercial banks borrowed slightly less from the Federal Reserve's emergency lending program over the past week, while investment firms stepped up their loans.

Report: Boeing may further postpone 787 deliveries

BY ASSOCIATED PRESS — Fri, 5 Dec 2008 04:00 CST

PITTSBURGH---- Boeing Co. may delay the first deliveries of its of long-awaited 787 jetliner by at least six more months due to a recent strike by union workers and other production glitches, a media report said Thursday.

Carmakers' bailout pleas hit Senate skepticism

BY ASSOCIATED PRESS — Fri, 5 Dec 2008 04:00 CST

WASHINGTON---- Desperate U.S. automakers ran into fresh obstacles from skeptical lawmakers Thursday as they appealed with rising urgency -- and a new dose of humility -- for a $34 billion bailout. Without help, said one senator, �we're looking at a death sentence.�

Flipped flag signals economic distress

Fri, 5 Dec 2008 00:01 CST

Life on Paradise Circle has been anything but lately for Debra Brzostowski. Like many small business owners, the tanking economy has put her business at risk. She and her husband are also on the verge of losing their home. The day after Thanksgiving, she turned the American flag flying on the front of her house upside down. "It's a sign of distress," she said.

Reinventing the pen pal for the digital age

TED PINCUS theopincus@hotmail.com — Fri, 5 Dec 2008 04:00 CST

Ted Pincus: What if you could enable 200,000 American kids to work with 2 million of their peers abroad -- online, real time -- on projects that teach them what global trade is all about? Today those subjects and many more are being pursued jointly through a remarkable network that is bringing today's technology to the old-fashioned "pen pal" concept.

Putting Wrigley Field on ice

Fri, 5 Dec 2008 04:00 CST

Not many people would be encouraged by a frigid day like Thursday, when temperatures hovered in the 20s.

Business brief

Fri, 5 Dec 2008 04:00 CST

Stocks tumble after tranquil day