<![CDATA[NBC Chicago - Chicago Business News - Money, Financial & Corporate News]]> Copyright 2015 http://www.nbcchicago.com/news/business http://media.nbcbayarea.com/designimages/5-Chicago-Blue.png NBC Chicago http://www.nbcchicago.com en-us Mon, 31 Aug 2015 23:00:19 -0500 Mon, 31 Aug 2015 23:00:19 -0500 NBC Owned Television Stations <![CDATA[Denny's Makes Peace Offer to Burger King]]> Mon, 31 Aug 2015 18:37:44 -0500 http://media.nbcchicago.com/images/213*120/denny%27s+sign.jpg

Denny's has jumped on the "peace burger" bandwagon after fast-food chain Burger King extended a peace offer to McDonald's to create a "McWhopper" last week.

The fast casual restaurant took out full-page advertisements in USA Today and The New York Times to show off their version of a mash-up between Denny's and Burger King, according to USA Today. The advertisement features a massive burger with some extra toppings and a peace flag sticking out of the bun.

Denny's tweeted a photo of their "peace burger" Thursday, showing a classic Burger King Whopper with ingredients from the Denny's Slammer, including a fried egg, bacon and hash browns. The chain has not decided on a name for the proposed burger, but it tossed out a few ideas, such as "Whoppaslam," "The Slopper," "The Slamopper" and "Whoppaslamus-rex." 

The new advertisement debuted Monday, less than a week after Burger King proposed the "McWhopper" to celebrate the International Day of Peace on Sept. 21. The full-page Burger King advertisement appeared in The New York Times and the Chicago Tribune.

Burger King said it wanted to serve the "McWhopper" for a single day at a pop-up location in Atlanta, which is midway between the headquarters for both chains.

The "McWhopper" would include elements of both the Big Mac and the Whopper, including the flame-broiled beef patty and a middle bun, according to a website Burger King set up.

McDonald's, however, declined the offer.

In a comment posted on its Facebook page, McDonald's CEO Steve Easterbrook said the proposal was inspiration for a good cause, then took a dig at the ploy by Burger King.

"Let's acknowledge that between us there is simply a friendly business competition and certainly not the unequaled circumstances of the real pain and suffering of war," Easterbrook said.

He added "P.S. A simple phone call will do next time."

Photo Credit: Getty Images]]>
<![CDATA[Uniqlo to Open Flagship Store in Chicago in Fall]]> Sat, 29 Aug 2015 14:46:59 -0500 http://media.nbcchicago.com/images/213*120/uniqlo+manhattan.jpg

The Japanese retail store Uniqlo is set to open its flagship store — and second largest store — in Chicago this fall.

The retail company set the opening date for Oct. 23, according to the Chicago Tribune. The 60,000-square-foot store will be located at 830 N. Michigan Ave. on the Magnificent Mile. It will be the second largest store after the Fifth Avenue location in New York.

Uniqlo sells casual attire, including sweaters, scarves and jeans, as well as sportswear for men, women and children.

"Chicago is a global city that's home to some of the finest cultural and sports institutions in the world, and we are thrilled to join the city's rich landscape," said Larry Meyer, CEO of Uniqlo USA.

The Chicago store will employ 400 workers, according to the Tribune.

Uniqlo currently has more than 40 stores in the U.S., but the Chicago location will be its first in the Midwest. Worldwide, there are at least 1,600 Uniqlo stores.

Photo Credit: Getty Images]]>
<![CDATA[McDonald's, Tyson Cut Ties With Farm After Undercover Video]]> Thu, 27 Aug 2015 12:44:13 -0500 http://media.nbcchicago.com/images/167*120/51122973.jpg

McDonald's and the fast food chain's supplier Tyson Foods have cut ties with a Tennessee chicken farm after an animal rights group released what it claims is undercover footage of mistreated chickens. 

Mercy for Animals released the graphic footage Thursday morning, purporting to show workers at T&S Farm in Dukedom, Tennessee, a Tyson Foods contract farm, “clubbing and stabbing chickens.” It also claims to show sick and injured birds left without proper veterinary care and thousands of baby birds "bred to grow so fast they become crippled under their weight."

McDonald’s said in a statement that Tyson Foods has terminated their contract with the farmer.

“We believe treating animals with care and respect is an integral part of a responsible supply chain and find the behavior depicted in this video to be completely unacceptable,” the Oak Brook-based fast food chain said in a statement. “We support Tyson Foods’ decision to terminate their contract with this farmer.”

In a statement released Thursday, Tyson said members of its animal well-being team are investigating the farm.

“Animal well-being is a priority at our company and we will not tolerate the unacceptable animal treatment shown in this video,” the company said in a statement. "Members of our animal well-being team are investigating, however, based on what we currently know, we are terminating the farmer’s contract to grow chickens for us. There are currently no chickens on the farm. We’re committed to animal well-being but don’t believe this video accurately depicts the treatment of chickens by the thousands of farmers who supply us."

McDonald’s said it plans to work with Tyson and investigate the situation further.

“We’re committed to working with animal welfare and industry experts to inform our policies that promote better management, strong employee education and verification of practices,” the company said.

McDonald's is the latest company being asked to reform its practices following undercover video released by Mercy for Animals, which advocates against eating meat. 

In June, poultry producer Foster Farms was targeted by the group after undercover video showed chickens being slammed upside-down into metal shackles, plucked and having their feathers pulled out while they were still alive. 

Government statistics show that hundreds of thousands of chickens are accidentally dropped alive into scalding tanks every year, but that represents a small fraction of those slaughtered. Last year, the rate at which chickens were improperly slaughtered plummeted to a low of 0.008 percent, an Agriculture Department spokeswoman said.

<![CDATA[New Streeterville Target Could Be Equipped With a Bar]]> Thu, 27 Aug 2015 04:52:49 -0500 http://media.nbcchicago.com/images/213*120/target+express.jpg

A new Target store set to open in Chicago's Streeterville neighborhood is on track to become the first ever Target store to serve alcohol to customers.

A spokesperson for the Minnesota-based retailer confirmed to NBC Chicago that Target is seeking a liquor license for the store, but declined to elaborate on any future plans.

The new Streeterville location is scheduled to open in October in the former Fox & Obel store, located at 401 E. Illinois St.

The store was expected to be a TargetExpress location and is smaller than most regular Target stores.

Earlier this month, Target announced that CityTarget and TargetExpress stores across the country would be renamed as "Target" stores and be rebranded with the company's logo. The retailer noted that the Streeterville store will still be a "smaller, flexible format" store, however. 

New details on the Streeterville store and pending liquor license are expected to be released in the coming weeks, the Target spokesperson said.

Photo Credit: Target]]>
<![CDATA[Conn. Governor in Talks With GE]]> Wed, 26 Aug 2015 03:07:01 -0500 http://media.nbcchicago.com/images/213*120/GEPIC8252015.jpg

Gov. Dannel Malloy revealed this week that his administration has been in close talks with GE to try to keep the company and its 800 employees in Connecticut.

GE has operated its world base of operations in Fairfield for decades and recently threatened to find a new home for its corporate headquarters.

It comes after the General Assembly approved a two-year budget with tax increases for large multi-national corporations like GE that will take effect in 2017.

The company made public its concerns and its plan to potentially leave the state. Now the governor is working to prevent that from happening.

"We’ve indicated in general and in some cases specific terms what we thought we could do," Malloy said during a news conference Monday.

Economic development officials have been discussing some kind of incentive or tax package that would aim to keep GE in Fairfield, but Malloy wouldn't go into specifics.

"We certainly have had those discussions, stand ready to work with them on issues of concern and be competitive with other states," Malloy said.

The fact that Malloy has reached out directly to GE has placated the state's leading business group, the Connecticut Business and Industry Association.

"It’s a very good thing that the state is talking to the job creators in Connecticut," said Brian Flaherty, the group's vice president of public policy.

He cautioned, however, that it will likely take more than individual negotiating to improve the state's position with other companies.

"If you get the policy right, if you structurally have the answers down, then you don’t need to pull a rabbit out of the hat so often on these special one-time deals," Flaherty explained.

Republicans, who have been critical of all budget talks since February, were also quick to blame the entire situation on Democratic leadership and its failure to stand behind the budget.

"It just speaks to the fact that if our economic policies were as rock solid as they suggested and had a future for the state of Connecticut that was fiscally responsible, why would any company want to leave, and why would you make a package to keep them? Because our policies are awful," said State Senate Minority Leader Len Fasano.

Fasano said he could see the state working with individual employers to try to keep them in Connecticut, which he says is not a good strategy.

"So today it’s GE. Tomorrow it’s UTC. Then after that it’s Electric Boat, and it goes on and on. Anybody with 250 employees or more are going to say they want the same deal they gave GE or we’re out of here," he said.

Flaherty with CBIA said he's confident the governor's administration could work to keep major employers in Connecticut.

"Just like Gov. Malloy convinced members of the legislature to come back and roll back a part of their taxes, it’s key that his administration is talking with all sizes of companies," he said.

Photo Credit: NBCConnecticut.com]]>
<![CDATA[Starbucks CEO Asks Employees to be 'Sensitive']]> Tue, 25 Aug 2015 19:41:48 -0500 http://media.nbcchicago.com/images/213*120/AP434850230768.jpg

After a turbulent day of trading at the stock markets, the CEO of Starbucks told all employees of the global coffee chain to do their part in calming nerves caused by the chaos.

CEO Howard Schultz sent a memo to his 190,000 employees Monday cautioning them to be extra "sensitive" to customers affected by the stock market plunge.

"Today's financial market volatility, combined with great political uncertainty both at home and abroad, will undoubtedly have an effect on consumer confidence and perhaps even our customers' attitudes and behavior," Schultz wrote.

"Our customers are likely to experience an increased level of anxiety and concern. Please recognize this and — as you always have — remember that our success is not an entitlement, but something we need to earn, every day. Let's be very sensitive to the pressures our customers may be feeling, and do everything we can to individually and collectively exceed their expectations."

Despite the "financial market volatility," Schultz also assured employees that Starbucks will be just fine, saying his confidence in the company and its employees "has never been greater."

This latest move by Starbucks marks another of the company's "social good' initiatives.

Under Schultz's leadership, Starbucks has taken up several such initiatives, including the recent controversial "Race Together" campaign in which baristas wrote the phrase on paper cups to encourage them to discuss diversity and racial inequality. The campaign was discontinued after some customers expressed opposition.

In 2012, Starbucks also asked baristas to write "Come Together" on coffee cups in the D.C. area to encourage unity during fiscal cliff talks.

Photo Credit: AP]]>
<![CDATA[Target to Test New Cafes in 14 Stores]]> Tue, 25 Aug 2015 08:54:53 -0500 http://media.nbcchicago.com/images/213*120/target-store-sign.jpg

Target customers will soon have new dining options at some stores.

Beginning in October, the retailer plans to roll out a new café concept at 14 test stores, a Target spokesperson confirmed to NBC Chicago Tuesday. 

While the company didn't reveal further details on the test, USA Today reports Target plans to add fast-casual restaurant Freshii to nine stores and Pizza Hut, featuring artisan pizzas, to three stores. Two Minneapolis stores will also replace their cafes with a D’Amico & Sons, a local pizza chain.

Target reportedly has cafes in 1,700 of its 1,800 stores.

Target’s Chief Stores Officer, Tina Tyler, told USA Today the change is less about drawing more customers to the cafes and more about showcasing the brand’s health and wellness values.

Photo Credit: AP]]>
<![CDATA[Target 5: Investigating the Issues That Affect You Most]]> Tue, 08 May 2012 14:57:53 -0500 ]]> <![CDATA[$martMoney]]> Tue, 08 May 2012 09:08:56 -0500 ]]> <![CDATA[Chicago Expert to Investors: 'Don't Panic']]> Tue, 25 Aug 2015 05:35:28 -0500 http://media.nbcchicago.com/images/213*120/topNews-AP_320394854692.jpg

Monday’s manic stock market day was unsettling news for investors around the world, and in Chicago, but some experts say it’s not time to panic-- yet.

Seized by fears that the Chinese economy is not as healthy as it appeared to be, investors sold with abandon at the opening bell and sent the Dow Jones industrial average down almost 1,100 points, the biggest decline on record in a trading day. Then the market staged a dramatic comeback and almost erased its losses, coming within about 115 points of break-even. By late afternoon, stocks were sinking again — and the Dow was down 588 points at the closing bell, a 3.58 percent rout.

“Chine waved the white flag and said their growth isn’t as good as they thought,” said Brian Battle with Performance Trust Capital Partners. “So there has been a selloff in Asia and it finally made it here to the U.S.”

But Steven Esposito, a senior vice president with the wealth management division of Morgan Stanley, said investors shouldn’t panic.

“What you don’t want to do is let emotion control your investment decisions,” he said. “Look at your portfolio. Make sure it’s well-diversified. It may be time to upgrade a few of your positions, or pull back, but most of all, don’t panic.”

Many investors pick and choose stocks based on a company's business outlook, but there is an entirely different class of trader that relies on technical indicators to make investment decisions. Many of their screens were flashing "sell" this week.

The S&P 500 and the Dow have broken through a few key technical levels recently. One important one is their 200-day moving averages, which the two indexes pierced on Thursday, helping to fuel selling. Both indexes dropped 2.1 percent that day, before further tumbling on Friday. The good news is the last time the S&P 500 broke through its 200-day moving average, in early July, it bounced back from those levels after a few days.

Esposito acknowledged the news is “troubling” but said having a long-term plan is key.

“You shouldn’t panic because everyone else is selling,” he said. “Make sure you have a long-term plan and stick to it. These are very troubling times. Don’t try to be a trader, be an investor.”

Some experts believe the volatility is healthy and say stocks have gone too long without a correction. 

The U.S. economy is looking healthier lately. Employers have been on a hiring spree, and that has helped push the unemployment rate to a low 5.3 percent.

Investors will get another clue on the economy on Thursday when the government releases its estimate of economic growth in the April-June period.

Photo Credit: AP]]>
<![CDATA[Chipotle to Hire Thousands of Employees in One Day]]> Mon, 24 Aug 2015 19:57:59 -0500 http://media.nbcchicago.com/images/207*120/Chipotle+Sign.jpg

Chipotle Mexican Grill Inc. plans to hire thousands of employees in one day during an event scheduled to take place at restaurants across the country next month.

The company's National Career Day is scheduled to take place from 8-11 a.m. on Sept. 9 at every Chipotle across the country, according to Chipotle's website.

Chipotle says that in the last year, the company has promoted more than 10,000 people, who once started as hourly crew members, into management roles, and the upcoming event will help “draft the next wave of our future leaders.”

Management teams at each U.S. restaurant location will hold open interviews for up to 60 applicants, with the intent of hiring 4,000 new employees. 

"We are constantly looking for great people to join our team," Monty Moran, co-chief executive officer at Chipotle, said in a statement. "Regardless of your background or experience, you can succeed at Chipotle if you have a passion for making the people around you better."

The move is the latest employee initiative at the company and follows news that Chipotle would expand benefits to all employees, including tuition reimbursement for students.

Last month, Chipotle implemented a new benefits package that included paid sick days, paid vacation days and tuition reimbursement for part-time employees.

“We are always working to attract and retain the very best employees we can, and to helping develop our people so they can achieve their full potential,” Chris Arnold, Chipotle’s communication director, said.

The hiring event, which hints at the potential to put employees "on the path to developing rewarding careers," adds Chipotle to the long list of fast food chains taking extra measures to attract and retain employees.

Earlier this year, Starbucks announced it will pay for a full four years of Arizona State University's online degree program for its employees. McDonald’s unveiled a similar college reimbursement program in April. The fast food giant also announced an increase in pay and paid sick days for its employees.  

Photo Credit: Getty Images]]>
<![CDATA[Huggies Investigating Claims of Glass Found in Baby Wipes]]> Fri, 21 Aug 2015 15:44:51 -0500 http://media.nbcchicago.com/images/213*120/AP_470676170697.jpg

Huggies is investigating after a video made by a mother in Guam purporting to show fiberglass in its baby wipes was posted online. 

 "We are aware of the situation with a mom who posted videos of what she believed to be glass shards in a package of our wipes product," said Huggies in a statement. "We will take all appropriate steps to investigate this situation but it is important to note that no glass is used during the manufacture of our wipes."

Shortly after, other parents posted photos and video documenting a shiny residue found in the wipes. 

A skeptical mother, Jessica Shinsky, 27, posted a video on her Facebook profile comparing a Huggies wipe with a Pampers wipe and alleged both show a shiny residue on the surface. 

This story uses functionality that may not work in our app. Click here to open the story in your web browser.]]>
<![CDATA[Dow Falls More Than 500 Points]]> Fri, 21 Aug 2015 15:08:49 -0500 http://media.nbcchicago.com/images/213*120/GettyImages-487480511.jpg

The Dow fell more than 500 points Friday, plunging for a second straight day and hitting a 10 percent decline from its all-time high — the definition of a market correction. 

Investors continue to worry that a stalled Chinese economy could hammer companies and countries around the world.

Apple — which relies heavily on Chinese demand — fell more than six percent. 

"Right now there is a feeling of fear in the marketplace, and all news is interpreted negatively and it's interpreted indiscriminately," Tom Digenan, head of U.S. equities at UBS Global Asset Management, told CNBC.

Photo Credit: Getty Images]]>
<![CDATA[Starbucks Pumpkin Spice Latte Debuts Later This Year]]> Fri, 21 Aug 2015 09:58:21 -0500 http://media.nbcchicago.com/images/213*120/pumpkinspice.JPG

After much hype surrounding Starbucks’ new pumpkin spice latte recipe, it appears fans of the beloved fall drink will need to wait a little longer to place their orders.

The drink is expected to be released nationwide Sept. 8, according to CNBC and staff at multiple locations throughout the country and in Chicago.

The drink will debut early for Starbucks Gold card members, who will be able to sip the beloved beverage as early as Sept. 4.

Last year, the latte was released for early access customers on Aug. 26 and was launched nationwide on Sept. 2, the day after Labor Day. It should be noted that Labor Day falls later this year.

Starbucks Corp. said Monday its version of the concoction this year will be made with real pumpkin and without caramel coloring. The change comes after blogger Vani Hari, known as the Food Babe, criticized Starbucks last year for the drink's ingredients and its lack of transparency around the issue.

Starbucks CEO Howard Schultz has called the pumpkin spice latte the company's "most popular seasonal beverage ever." In late 2013, he said sales of the drink were as strong as ever "despite the proliferation of knockoffs and copycats." The company even has a Twitter account set up for the drink, which has more than 82,000 followers. 

Starbucks did not immediately respond to NBC Chicago's request for comment. 

Photo Credit: Courtesy of Starbucks]]>
<![CDATA[How Subway Will Erase Jared Fogle From Its Brand]]> Wed, 19 Aug 2015 13:54:05 -0500 http://media.nbcchicago.com/images/213*120/fogle-subway-AP_92272235523.jpg

The company that once benefited from Jared Fogle's weight loss story will now need to figure out how to erase him from the brand completely.

Fogle pleaded guilty to allegations that he paid for sex acts with minors and received child pornography. While these allegations have nothing to do with Subway's food or prices, the association of the company's name with these crimes come at a rough juncture for the fast-food chain. 

"For a while, when you see a Subway ad, you're going to think about that child pornography charge," said Allen Adamson of the brand consulting firm Landor Associates.

Photo Credit: Mark Von Holden/Invision/AP]]>
<![CDATA[Walgreens to Lay Off 270 Corporate Workers in Chicago]]> Tue, 18 Aug 2015 06:11:42 -0500 http://media.nbcchicago.com/images/213*120/walgreens+sign+edit.jpg

Walgreens reportedly plans to lay off 270 Chicago employees as part of a plan to eliminate 370 positions from its corporate support offices.

The layoffs are part of the company’s restructuring and cost-reduction plan put in place last year, company spokesman James Graham told the Chicago Sun-Times.

Employees will be notified throughout the month, with no additional staff cuts expected in the near future, Graham said.

Earlier this year, the nation’s largest drugstore chain closed about 200 stores nationwide as it expanded on the $1 billion cost-reduction plan.

The Deerfield, Illinois company said it planned to reorganize its corporate operations and streamline its information technology and other functions. It expected the moves to add $500 million to its estimated cost savings from its three-year plan.

Late last year, Walgreens completed a nearly $16 billion deal to purchase the remaining stake of European health and beauty retailer Alliance Boots that it didn't already own. The company was renamed Walgreens Boots Alliance Inc. 

<![CDATA[Toby Keith's Bar Says it Paid Taxes, Wants to Stay in Rosemont]]> Fri, 14 Aug 2015 12:05:53 -0500 http://media.nbcchicago.com/images/213*120/AP483260167176.jpg

The management of Toby Keith’s I Love This Bar & Grill has responded to an eviction suit from the village of Rosemont, saying the restaurant paid taxes and and wants to stay in Rosemont.

General manager Larry Vanni told the Daily Herald everything the bar and restaurant owed has been paid and the company hopes to convince Mayor Brad Stephens to drop the eviction suit and let the popular venue stay in the entertainment district.

The village had earlier filed the lawsuit against the bar claiming it owed hundreds of thousands of dollars in taxes and rent.

Stephens told the Daily Herald he’s already begun talking to other potential users for the space, but said “those are just talks at this point.”

He also told the paper he doesn’t regret pushing for the bar and restaurant to come to the entertainment district, saying they were one of the “hottest concepts in the country” at the time.

The Rosemont venue first opened in the space in 2012.

Since its opening, other locations have closed, including some in Cincinnati, St. Louis Park, Minnesota, Orlando and Houston.

Vanni reportedly said the Rosemont location is one of the most profitable locations for the chain, noting that its revenues were being used to try and keep others afloat.

Stephens told the Daily Herald he is waiting for the August rent check to clear before he’ll consider dropping the suit but whether or not the venue can stay in Rosemont for 2016 remains to be seen.

The restaurant’s lease reportedly expires Dec. 31.

Photo Credit: AP]]>
<![CDATA[Cookie Store Offers Last Chance for Maurice Lenell Cookies]]> Fri, 14 Aug 2015 06:08:23 -0500 http://media.nbcchicago.com/images/160*128/313_Swirl_-no_box.JPG

Fans of Maurice Lenell cookies may want to stock up while they can.

The Cookie Store and More on North Harlem Avenue will sell the last of the legendary cookies, the Chicago Tribune reports.

The Cookie Store and More opened in 2010 to serve as the unofficial outlet for the brand, but it now reportedly has a “Last Chance for Maurice Lenell” countdown sign hanging in its front window.

As of Thursday, the sign said 18 days until supply runs out, the Tribune reported.

The Maurice Lenell Cooky Company closed its Norridge factory in 2008

Consolidated Biscuit Co., which bought Lenell's equipment and trademarks and promised to continue making the cookies, told the Tribune the equipment used to make the cookies has aged and the undertaking became hard to justify. The company also said the Food and Drug Administration, and customers, wanted a revision to the recipe to remove partially hydrogenated oils, but they say that revision “changes the whole cookie.”

Consolidated Biscuit Co. has since stopped production of the beloved old-fashioned treats, and all that remains at the Cookie Store is what's left on the shelves.

Photo Credit: Maurice Lenell]]>
<![CDATA[Motorola Mobility Cutting 500 Jobs in Chicago]]> Thu, 13 Aug 2015 17:04:22 -0500 http://media.nbcchicago.com/images/213*120/smartphones1.jpg

Motorola Mobility has announced plans to cut 25 percent of its 2,000 Chicago employees, a spokesman for the company said Thursday.

Will Moss, senior director of corporate communications for Motorola Mobility, said the layoffs are part of an overall restructuring by parent company Lenovo.

Lenovo on Wednesday announced plans to reduce 3,200 people in its “non-manufacturing workforce around the world” following a 3 percent decrease in revenue from the previous year.

“Lenovo saw severe challenges in its main markets,” the company said in a release. “It faced significant declines in the global PC and tablet markets, as well as slowing growth and increasing competition – especially in China – in smartphones.”

The company said it plans to reduce expenses by about $650 million in the second half of this year and about $1.35 billion annually.

“To build long term, sustainable growth, we must take proactive and decisive actions in every part of the businesses,” Yuanqing Yang, Chairman and CEO of Lenovo, said in a statement.

Moss said the Merchandise Mart will continue to be the mobile device maker's headquarters and “the hub of our global R&D and design.”

“We’ll still have a substantial workforce there,” he said.

Photo Credit: Getty Images]]>
<![CDATA[Tinder CEO Leaves After Five Months]]> Thu, 13 Aug 2015 12:09:56 -0500 http://media.nbcchicago.com/images/213*120/140411-tinder-dating-app-mn-1310_6f284758e68894d5f153e1d324a00965.nbcnews-fp-1360-600.jpg

Tinder's latest CEO Christopher Payne just didn't match with the company.

Payne is leaving the position after just five months on the job. Taking over will be Tinder co-founder and current president Sean Rad, NBC News reported.

"I enjoyed my time at Tinder but we mutually determined that this wasn't going to be optimal and thought that a quick transition served everybody best," Payne said in a statement.

Payne, a former eBay executive, took over Tinder's helm in March.

Rad returns to the top spot after he was accused in a lawsuit of ignoring an employee's complaints about being sexually harassed within the company. Tinder's parent company settled with the accuser, the former vice president of marketing. 

The move comes after Tinder said this week that its social media team had "overreacted" for posting more than two dozen tweets slamming a Vanity Fair article.

<![CDATA[400 Youths to Be Hired at Chicago Job Fair Thursday]]> Fri, 14 Aug 2015 04:30:53 -0500 http://media.nbcchicago.com/images/213*120/AP584464016824.jpg

More than 400 young employees are expected to be hired at a job fair at Chicago’s McCormick Place Thursday.

The 100,000 Opportunity Job Fair and Forum at McCormick Place will kick off the official start to the 100,000 Opportunity Initiative, a national program where a group of U.S. companies will commit to engaging 100,000 young people in jobs, internships and apprenticeships by 2018.

More than 4,500 young Chicagoans are slated to attend the fair, which is said to be the “first of its kind.”

“We believe that for young people to get their foot in the door in industries that have career trajectories and with companies that provide tuition is all a part of our initiative at Chicago City of Learning to help our youth level up professionally and academically,” Nichole Pinkard, a DePaul University professor and founder of the Digital Youth Network, said in a statement.

At least 29 private companies will be a part of the event, including Starbucks, JC Penny, Potbelly, Hyatt and others with plans to hire more than 400 youths between the ages of 16 and 24 on the spot at the fair.

The event is also expected to feature appearances by Common, Chance the Rapper and “surprise local and national celebrities and heroes.”

The event is ticketed and applications must be filled out before attending. Applicants must be between the ages of 16 and 24, part-time students or not enrolled in school, not currently working.

Photo Credit: AP/File]]>
<![CDATA[Report: McDonald's to Begin Table Service]]> Sat, 08 Aug 2015 15:37:23 -0500 http://media.nbcchicago.com/images/213*120/mcdonald%27s+worker+getty.jpg

McDonald's customers will soon have the luxury of being waited on at the fast food restaurant as the company continues its image makeover.

Fifty restaurant locations in the U.S. are testing out the new table service, according to CNN Money. At these locations, customers can order food at a touchscreen kiosk and then wait at tables for an employee to bring them their meals.

McDonald's has already introduced table service in Australia, Germany and France with positive results, according to CNN Money.

The move is one of the latest in the fast food company's bid to revive business and revamp its image.

Last week McDonald's announced it would cut about 225 corporate jobs to help revitalize its flagging business.

On the food front, the chain has been making changes to its menu all year. In June, it announced appetizers would soon appear on menus in Wisconsin restaurants, and in March, the company appealed to a more health-conscious crowd as it announced it would cut the use of antibiotics in its chicken products.

Photo Credit: Getty Images]]>
<![CDATA[Target to Rename State Street Store as 'Target']]> Wed, 05 Aug 2015 07:17:40 -0500 http://media.nbcchicago.com/images/213*120/loop+target+new+chicago.jpg

State Street’s CityTarget store is about to become… a Target.

The retailer announced in a blog post Tuesday that the State Street store, and 13 other CityTarget and TargetExpress locations across the country, would be renamed as “Target” stores.

“Big or small, our stores have one thing in common: They’re all Target. Guests can walk into a Target store of any shape or size and find great merchandise, helpful team members, clean, bright aisles and incredible value,” the Minnesota-based company wrote. “What better way to stand behind that promise than with our own Bullseye?”

The Loop store first opened in 2012 in the historic Sullivan Center location once occupied by Carson Pirie Scott.

The 124,000-square-foot store, two-floor location features a pharmacy, groceries, apparel, accessories, toys, sporting goods, electronics and Chicago-themed merchandise.

The renamed stores will be rebranded with the company’s name and logo beginning in October.

The company also noted that it has six new stores scheduled to open in October, including one in Chicago that will be a “smaller, flexible format” store.

“Rest assured, they will all be Target,” the company wrote.  

<![CDATA[McDonald's Asks Fans to Build "Ultimate Chicagoland Burger"]]> Mon, 27 Jul 2015 13:05:25 -0500 http://media.nbcchicago.com/images/160*129/Mcdonalds+fries.jpg

McDonald’s has asked for Chicagoans to help create “the ultimate Chicagoland burger.”

The Oak Brook-based food chain began a contest Monday where burger enthusiasts and foodies can submit their “dream burger” for a chance to have their creation added to menus at Chicago-area McDonald’s restaurants.

Customers can build custom burgers via burgerbuildoff.com to put it up for online voting. The public will vote for their favorite burgers and the top 10 entries will move on to the final round, where a panel of judges will pick the top two recipes.

The recipes will be rated based on taste, creativity, visual presentation, product name and overall consumer appeal.

The top two burgers will then be added to menu boards at local restaurants and the burger that is purchased most will be dubbed the Chicago Burger Build Off Champion. The creator of the burger will also win a check for $5,000 and a trip for four to Universal Orlando Resort.

McDonald’s said the competition was created to help design a burger that is “distinctively Chicago—reflecting the city’s rich food heritage.”

“Throughout our history, McDonald’s has built all kinds of legendary burgers,” Edward Schmitt, Jr, president of MOCNI and a McDonald’s restaurant owner/operator, said in a statement. “Chicago is home to some of the world’s most delicious and celebrated foods, so we are excited to give our customers a chance to help create a burger that is as big and bold as our great city.”

Customers have until Aug. 23 to submit their creations online.  

Photo Credit: Getty Images]]>
<![CDATA[Cannabis Conference Returns to Navy Pier]]> Thu, 23 Jul 2015 11:20:33 -0500 http://media.nbcchicago.com/images/180*120/732453081.jpg

A cannabis conference will return to Navy Pier this weekend.

The My Compassion Cannabis Conference will take place from 9 a.m. to 6 p.m. Thursday through Sunday.

The conference debuted at the venue last year and is being touted as the “nation’s premier cannabis health and wellness event.”
Open to the public, vendors feature plant growing tips, industrial hemp products, vaping pens and presentations on cannabis science, human health and business growth.

Accurate Biometrics, a Chicago company, will also offer fingerprinting for the medical card application.

Passes to the event cost $42 per day, $100 for three days and packages for $199 or more.

Last year, Illinois became the 20th state in the union to permit the use of medical marijuana.

The number of Illinois medical marijuana patients currently sits at more than 2,600.

In June, Illinois sent about 100 approval letters to patients who qualify to use marijuana, bringing the total to 2,600, the Illinois Department of Public Health said. About 22,600 people have started the application process on the program's website. Of those, only about 3,200 have submitted a complete application, 100 more than last month.

At least one company hopes to have marijuana growing this summer. Others are still months away from planting. 

Photo Credit: Getty Images]]>
<![CDATA[McDonald's Could Soon Offer All-Day Breakfast Nationwide]]> Thu, 23 Jul 2015 11:03:13 -0500 http://media.nbcchicago.com/images/213*120/4707047541.jpg

McDonald’s could soon dish out all-day breakfast nationwide.

The Wall Street Journal, citing an internal memo sent to U.S. franchisees and employees Tuesday, reports that the fast food giant could begin offering breakfast all day later this year.

The Oak Brook, Illinois-based company began testing all-day breakfast in March in its San Diego market. The test was expected to expand to Nashville this summer.

The memo, sent by LeAnn Richards, a franchisee from Arizona who heads a task force studying all-day breakfast, told franchisees to be ready for the potential launch of all-day breakfast as soon as October, WSJ reports.

McDonald’s, however, would only confirm that the company is testing the possibility of all-day breakfast.

“Serving all-day breakfast is likely the number one request we hear from McDonald’s customers,” the company told NBC Chicago in a statement. “We’re testing it out in a few markets to learn more about this possibility. We know your mouth is watering, but there’s no news on this yet.”

McDonald’s breakfast currently ends at 10:30 a.m. in most markets.

McDonald's has long been the fast-food leader in the mornings, with its popular Sausage Biscuits, Hotcakes and other items pulling in roughly 20 percent of the company's U.S. sales. But the chain has faced stiffer competition in recent years, with competitors such as Starbucks and Subway rolling out breakfast sandwiches as well.

McDonald's, which has more than 14,000 U.S. locations, has also said it plans to step up its marketing of breakfast as it faces intensifying competition.

As for extending its breakfast hours, the world's largest hamburger chain is known for treading extremely carefully when discussing any tests or potential changes. Such matters are considered sensitive in large part because they would require the support of the company's network of franchisees.

Photo Credit: Getty Images]]>
<![CDATA[Amazon Offers One-Hour Delivery to Prime Members in Chicago]]> Fri, 17 Jul 2015 12:53:57 -0500 http://media.nbcchicago.com/images/213*120/shutterstock_252663736_amazon_prime_day_rebajas_ofertas_black_friday.jpg

Amazon has expanded its Prime Now service to Chicago.

The service launched Friday in select Chicago zip codes and will expand to additional zip codes in the city soon, the company said.

Prime Now boasts “ultra-fast service” and “provides one-hour delivery on tens of thousands of daily essentials through a mobile app.”

The service is available in the city from 8 a.m. to midnight seven days a week, Amazon said. Two-hour delivery is free and one-hour delivery is available for $7.99.

Prime members will be notified via the Prime Now app when the service is available in their area.

The service is also currently available in Atlanta, Baltimore, Dallas, Indianapolis, Manhattan and Miami.

<![CDATA[Chicago Brew Among Nation's 13 Best Craft Beers: Report]]> Fri, 17 Jul 2015 10:11:21 -0500 http://media.nbcchicago.com/images/213*120/goose-island-pale-ale.jpg

A Chicago brew has been named on a list of the best craft beers in America.

The limited-release Bourbon County Stout by Goose Island made the list of top 13 craft beers in the nation by Forbes, coming in at no. 8.

The list was put together by Matt Canning, a beer concierge at Hotel Vermont. Though Canning acknowledged his bias toward Vermont beers, which was clear as seven of the 13 on the list were from Vermont, the Goose Island brew was the only one from the Midwest to make the cut.

“This beer has a cult following that includes this Beer Concierge. This pitch-black viscous brew is aged in bourbon barrels and released only once a year. Chocolate, caramel, and smoke on the nose—and rich oak from the barrels on the finish,” Canning wrote.

But be careful, he warned, “this beer is 14% ABV.”

The top beer on Canning’s list was Susan by Hill Farmstead, which he called an “exceedingly drinkable IPA.”

Beers from Quebec, California, Maine and New York also made the list.

Photo Credit: Getty Images]]>
<![CDATA[Dunkin' Donuts to Test New Hot Teas in Chicago]]> Fri, 17 Jul 2015 08:18:50 -0500 http://media.nbcchicago.com/images/213*120/DD+Premium+Hot+Tea+Packaging+Lineup+resize.jpg

Dunkin’ Donuts will soon test a new product in the Chicago market: Hot teas.

Beginning in October the coffee and doughnut chain will test five teas in participating locations in Chicago, a spokesperson for Dunkin' Brands Inc. told NBC Chicago. 

The flavors include a "Bold Breakfast" black tea, a "Cool Mint" herbal infusion, a "Chamomile Fields" herbal infusion, a "Hibiscus Kiss" herbal infusion and a "Harmony Leaf" premium leaf tea. 

Chris Fuqua, vice president of marketing, told Crain's Chicago Business the “tea market is one that’s evolving relatively quickly” and noted it is “one of the most widely consumed beverages in the world.”

The company plans to test the new products in Chicago but could broaden its use if test results prove promising.

The move could allow the chain to compete with fellow coffee giant Starbucks Corp.

Starbucks has long been active in the tea market and sells Teavana brand tea.

Photo Credit: Dunkin' Donuts]]>
<![CDATA[Starbucks to Open New Concept Store in Englewood]]> Thu, 16 Jul 2015 06:18:23 -0500 http://media.nbcchicago.com/images/213*120/AP584464016824.jpg

First Whole Foods, now Starbucks -- Chicago’s Englewood neighborhood will soon see another major business development.

Mayor Rahm Emanuel is expected to announce Thursday that Starbucks plans to open a new concept store in the area designed to hire and train underserved youth.

The store will open next to a Whole Foods Emanuel credits with turning the violence-stricken neighborhood into an “economic and job creation anchor for the South Side.”

The new Starbucks will be the first of its kind and joins Whole Foods as part of the “Englewood Square” development, which broke ground last year and is expected to open in 2016.

The businesses are part of more than $362 million in planned and completed public and private investment projects underway in Englewood, according to the mayor's office. Emanuel expects those projects will create or retain more than 4,140 jobs.

Photo Credit: AP/File]]>
<![CDATA[Student Loan Rates Drop, But For How Long?]]> Tue, 07 Jul 2015 13:29:08 -0500 http://media.nbcchicago.com/images/213*120/CN12T07072015_1200x675_479329347941.jpg More than 1.2 trillion dollars in student loans are taken out by more than 40 million consumers, with an average balance of about 29 thousand dollars. Last week, the interest rate on those federal loans dropped slightly, but with the Federal Reserve considering a possible interest rate hike this fall, will the reprieve be short-lived?]]> <![CDATA[What You Could be Doing to Keep Yourself From a Promotion]]> Thu, 02 Jul 2015 13:08:29 -0500 http://media.nbcchicago.com/images/213*120/87552094.jpg Do you find yourself questioning why you haven't gotten a promotion lately? A recent study from CareerBuilder sheds light on the physical and behavioral factors that can hurt your chances at getting a raise.

Photo Credit: www.jupiterimages.com]]>
<![CDATA[Chicago 'Cloud Tax' Adds Cost to Streaming Services]]> Thu, 02 Jul 2015 21:51:25 -0500 http://media.nbcchicago.com/images/213*120/Netflix-Logo.jpg

Chicagoans paying to stream movies, TV shows and music from sites like Netflix or Spotify will now be charged a so-called “Cloud tax” to use the services.

A 9 percent tax will be added to the streaming services in the city under June rulings by the city Finance Department.

The rulings, which took effect July 1, cover an “amusement tax” in the city and a “personal property lease transaction” tax and extend the city’s tax laws to certain online services.

The amusement tax allows for the taxing of charges paid “for the privilege” of watching, listening or playing electronically delivered movies, music or games.

The tax does not apply to the sale or permanent download of shows, movies, videos, music or games, but instead applies to rentals or “temporary” streaming options.

The personal property lease tax covers the use of databases for everything from real estate listings to car prices to stock prices.

The rulings apply to both residents and businesses.

A spokesperson for Mayor Rahm Emanuel told the Chicago Tribune the rulings “are consistent with the City’s current tax laws and are not an expansion of the laws.” She also said that “in an environment in which technologies and emerging industries evolve quickly” such rulings are often needed to “clarify the application of existing laws.”

The move has sparked debate among some businesses and officials in the city.

“As these two rulings demonstrate, bad times make for bad tax administration,” Michael Wynne, a partner and attorney at the Reed Smith law firm’s Chicago office wrote on the company’s website. “With these two rulings, the Department has expanded the scope of its tax ordinances to their absolute limit, if not further. If any state or local governments were wondering how to tax transactions occurring in the Cloud when legislative authority for such taxation is absent, the Department has just sketched a roadmap.”

Spotify and Netflix could not immediately be reached for comment.  

Photo Credit: AFP/Getty Images]]>
<![CDATA[Minimum Wage Increase Takes Effect in Chicago]]> Wed, 01 Jul 2015 18:58:34 -0500 http://media.nbcchicago.com/images/213*120/minimum-wage-cash.jpg

Minimum wage employees in Chicago will begin earning $10 an hour Wednesday as the first part of a yearly incremental minimum wage increase takes effect in the city.

The $1.75 hourly bump is part of a plan aimed at raising the minimum wage in the city to $13 an hour by 2019.

Wednesday’s pay hike brings the minimum wage in Chicago up from Illinois' $8.25 rate, which is already $1 higher than the federal rate. After that, the wage will go up by 50 cents in 2016 and 2017, and by $1 in 2018 and 2019. City officials estimate more than 400,000 Chicago workers will benefit.

The plan was overwhelmingly approved by the City Council in December.

Chicago is the latest major city to give minimum wage employees a raise. Last year, Seattle officials approved a phased-in $15 wage. In California, San Francisco voters approved a $15 in November, while Oakland OK'd an increase to $12.25.

<![CDATA[What's Going on in Greece? And How It Affects You]]> Tue, 30 Jun 2015 07:59:55 -0500 http://media.nbcchicago.com/images/213*120/NC_lv50tweb_1500x845.jpg Monday's stock slide has investors nervously awaiting Tuesday's opening bell amid the Greek Crisis and an emerging crisis in Puerto Rico.]]> <![CDATA[Mariano's Opens Largest Store Yet in Chicago Area]]> Tue, 30 Jun 2015 07:39:30 -0500 http://media.nbcchicago.com/images/215*120/mariano%27s+glenview+west.jpg

Mariano’s will open its largest store to date in the Chicago area Tuesday.

Mariano’s Glenview West, a 90,602-square-foot supermarket, will be the Midwest grocer’s 32nd location and the biggest so far in the Chicago area.

The new location will feature many “firsts” for the chain, including a cheese cellar, a full bar of vegan, raw vegan and vegetarian foods, and a Curation Center, which will showcase “artisanal products from around the globe.”

Though the store is called Glenview West, it actually has a Northbrook address: 2323 Capital Dr.

The store will be open seven days a week from 6 a.m. to 10 p.m.  

Photo Credit: Sky 5/NBC Chicago]]>
<![CDATA[McDonald's to Supersize Quarter Pounders: Report]]> Mon, 29 Jun 2015 08:14:38 -0500 http://media.nbcchicago.com/images/160*120/McDonald%27s+Quarter+Pounder+with+Cheese.jpg

McDonald’s is reportedly beefing up its quarter pounder.

The world’s largest hamburger chain could roll out a supersized quarter-pounder patty within the next month, CNBC, citing an internal document, reports.

The new patty is expected to weigh 4.25 ounces before cooking and will be shaped differently. The current patty weighs 4 ounces before cooking, according to McDonald’s’ Twitter

CNBC reports that the change is intended to improve the “taste, texture and appearance of the burgers” and will result in a “juicier and more flavorful burger.”

The Oak Brook-based chain would not comment on the news, but said in a statement that more details would be shared soon.

"As CEO Steve Easterbrook has shared, we’re always innovating around McDonald’s food, drinks and restaurant experience based on customers’ preferences, and that includes hotter food and reviewing cooking procedures, and we’ll share more details soon," the statement read.

The move comes just months after beef prices reached record highs and less than two weeks after the burger chain revealed plans to shrink its number of U.S. restaurants for the first time in more than 40 years. 

Photo Credit: McDonald's]]>
<![CDATA[McDonald's Debuts New Pork Sandwich]]> Sat, 27 Jun 2015 19:51:38 -0500 http://media.nbcchicago.com/images/213*120/happy+meal+new.jpg

McDonald’s has a new pork item on its menu.

The world’s largest hamburger chain has debuted a new pulled pork sandwich in at least one Midwest market.

The McDonald’s of Northern Indiana, which operates in Northern Indiana and Southwest Michigan, tweeted about the news Wednesday.

The new sandwich joins the McRib as another pork option on the Oak Brook-based chain’s menu.

It’s not clear how many restaurants will offer the new sandwich or how long it will be on the menu. McDonald’s could not immediately be reached for comment.  

Wendy's and Burger King also sell pulled pork sandwiches, CNBC notes.

Photo Credit: Getty Images
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