Category Archives: Business News

Mark Berger’s Work for the Oscars

April 14, 2016Business NewsAlex Garofalo, Mark Berger, Steve GuntliChicagoAdmin

So often people who work the hardest get the least credit. No truer is this the case than with the Oscars. According to a recent article in The Northern Light by Steve Guntli:

“This year’s Academy Awards ceremony was one of the best in recent history: swift, topical, and, for the most part, the right movies got the right awards. But even in a good year, things tend to slip through the cracks, either not earning enough recognition from the Academy or being ignored completely.”

Likewise with Mark Berger. True he has received awards for his work as a sound engineer (such as via: Apocalypse Now, The Right Stuff, Amadeus and The English Patient), but at the end of the day how many people really remember “the sound guy”?

Having said that, at the Oscars ceremony there is often confusion in the sound awards. Alex Garofalo noted that people get confused about the distinction between sound editing and sound mixing. In an article in The International Business Times, he explained it like this:

“Sound editing refers to the creation of all the sound elements, besides music, in a movie. These include sound effects, dialogue recorded on the set and automated dialogue replacement. In contrast, sound mixing refers to the combination necessary to achieve the proper balance between dialogue, music, sound effects and any other aural elements.”

Mark Berger falls into the latter category: sound mixing. Indeed, he has in his lifetime, been a sound mixer for over 165 movies, and thereafter he used this skill to teach to others.

Let’s take a moment with these Oscars to remember the hard work of all those behind the scenes; without the skill sound mixers like Berger, movies just wouldn’t be what they are today.

Chicago Law Firms Among Targeted in Russian Hacker Scheme

March 30, 2016Business NewsFlashpoint, hacking, Jenner & Block, Kirkland & Ellis, law firms, McDermott Will & Emery, Oleras, Sidley AustinChicagoAdmin

Four of the almost 50 elite law firms targeted by a Russian hacker were from Chicago, it was reported in an alert from Flashpoint, a New York-based computer-threat intelligence company.

The firms were Kirkland & Ellis, Sidley Austin, McDermott Will & Emery and Jenner & Block; all listed on a spreadsheet of potential targets of a cyber break-in into the company’s computer systems.

The leader of the threat is a broker named “Oleras,” living in Ukraine. He has been trying to gain access since January into these law firms’ computer systems by means of hiring hackers. His wish is to find information which will then allow him to trade using insider information.

Flashpoint notified law agencies, but would not comment any further. As of March 4th the FBI has the illegal activity under investigation.

Goodyear Guessing on the Look of Driverless Car Tires

March 23, 2016Business Newsautonomous cars, driverless cars, Goodyear, tiresChicagoAdmin

Traditional tires heading to the trash heap of history? Photo by: Brian Cantoni

There has been a lot of speculation lately about what the world of driverless cars will look like, in the relatively near future. Observers are not only wondering what our society will become when cars don’t need drivers, but also what will the cars themselves look like. Will they have steering wheels? How will the interiors be designed? And lots of other questions.

But until now no one really thought much about the outside of the car, particularly, the tires. Goodyear, the giant manufacture of tires for vehicles, has been thinking about this issue. At the Geneva International Motor Show Goodyear presented what they are calling the Eagle-360, spherical tires (big rubber balls) designed exclusively for autonomous cars.

Apparently these tires will not connect to the car’s axles. Rather, they will magnetically levitate underneath the car. There will be a battery inside the wheels which will power the movement of the wheels. The batteries will charge from the car body wirelessly, and also from regenerative braking.

Other features, such as sensors and specialized treads will send information about road conditions to the car, as well as being responsive to the particular conditions of certain geographic regions. Even more amazing is that the wheels will not even turn in the traditional way. The balls will just start to roll in a different direction when a turn is needed. These cars are more efficient, for instance, they can be densely packed in parking lots, since they can make turns at 90-degree angles as opposed to traditional turning radius of conventional cars.

Kohl’s Stores Closing as Shift to Internet Proceeds

March 15, 2016Business Newsclosure, Kevin Mansell, Kohl'sChicagoAdmin

The exterior of a typical Kohl's department store in Northeast Columbia. — The exterior of a typical Kohl’s department store in Northeast Columbia.

It looks like 2016 is going to be a bad year for Kohl’s as they announce 18 stores will be closing this coming year.

Or perhaps its not so bad after all. Kohl’s says that sales from the 18 stores listed for closure represent only 1 percent of the company’s total sales. Closing the stores will make it easier for the giant retailer to focus on its burgeoning on-line business. Which stores will be put on the chopping block will be announced this month.

“While the decision to close stores is a difficult one, we evaluated all of the elements that contribute to making a store successful, and we were thoughtful and strategic in our approach. We are committed to leveraging our resources on our more productive assets,” Kevin Mansell, CEO of Kohl’s, said.

The company also announced that it will be opening seven new “smaller format” stores in the Midwest as well as 12 FILA outlet stores in the coming year.

Kohl’s is based in Wisconsin, and had fourth-quarter earnings of $296 million with a net income of $1.58 per share. Revenue for the same period totaled $6.4 billion.

Chicago Lawmakers Drone On

February 15, 2016Business Newsdrones, State Senator Tim BivinsChicagoAdmin

Illinois state lawmakers are seeking to further restrict drone use by unmanned-flying vehicle enthusiasts. Federal legislators have been trying to find clear, enforceable rules to guide drone pilots, and Chicago alderman have been actively looking for ways to limit drone use close to airports.

A new bill sponsored by State Senator Tim Bivins is seeking to keep drones away from prison facilities. Lawmakers like Bivins are worried that contraband, such as cell phones, can easily be smuggled into prisons with the use of drones.

The dilemma for regulators is to strike a balance between encouraging the use of drones and the growth of this new industry with maintaining public safety. At the federal level this has been playing out as experts propose rules that would make drones safer. One rule, for instance, would be to require that drones include technology that would keep them flying at altitudes under 400 feet.

Developing a reasonable drone policy is an urgent issue as many businesses begin to embrace drones as tools to improve their services and/or their bottom lines. One new and interesting use of drones is being explored by the insurance industry. The insurer Allstate is beginning to look at drones as a new way to assess certain types of claims.

Chicago’s Moto Restaurant Bought by Alinea Group

February 7, 2016Business NewsAlinea Group, Cantu Designs, Grant Achatz, Homaro Cantu, Katie McGowan, molecular gastronomy, Moto Restaurant, Nick KokonasChicagoAdmin

Moto Restaurant sign. Photo by "The Writing on the Wall" and rioncm — Moto Restaurant sign. Photo by “The Writing on the Wall” and rioncm

Nine months after the death of owner Homaro Cantu, Chicago’s Moto Restaurant was sold by his widow and current owner Katie McGowan to the Alinea Group.

McGowan said in a statement that selling the restaurant was a “bittersweet decision” that “comes after deep reflection of the lasting impact” that her husband made with his restaurant.

Homaro Cantu launched Cantu Designs as well as being the executive chef of Moto. Cantu Designs is a revolutionary food technology, and Moto is one of the country’s most advanced in the niche of molecular gastronomy.

“Looking to the future, I am pleased to have come to an agreement with Nick Kokonas, Grant Achatz and the Alinea Group,” McGowan said. “I am inspired by their innovation and pioneering spirit, and wish them all the best with their new project. I can’t wait to see their vision and thank them for taking over the space as I begin a new chapter.”

Chicago Company Taking Charge of MGM’s Las Vegas Parking

February 4, 2016Business NewsLas Vegas, MGM Resorts, SP Plus CorporationChicagoAdmin

19564237108_b2f67f0c53_z — Lion near the MGM casino and hotel in Las Vegas. Photo by Simeon87.

Chicago-based SP Plus Corporation has signed an important contract with MGM Resorts International. SP Plus will take responsibility for all the paid parking at all non-union properties.

SP+, an alternative form of the company name, now operates almost 4,000 parking lots in North America. When SP+ takes charge of the Las Vegas lots on the Strip, about 400 employees who are employed by those facilities will become employees of SP+. For now it is not known what will become of the unionized parking lot attendants, but at least according to the Las Vegas Review-Journal, the company would like to find a way to transition those workers to additional employees of SP+.

The plan for SP+ to take over the parking on the Strip is highly controversial. It has been a tradition that all parking on the Strip has been free for MGM’s nine facilities which are located there. The decision by MGM to contract with SP+ and begin charging for parking has been met with much criticism.

It is also not known what else is included in the deal. According to the Associated Press, MGM is planning to spend $90 million to improve its parking, including the building of a new 3,000-car garage.

Health Care and Tech Industries are in Demand in Chicago

February 1, 2016Business Newsindustrial organizational psychologist, Job growth, medical sonographersChicagoAdmin

According to a new report from Crain’s Chicago Business, there are 10 professions which are now popular in the Chicago area, mostly associated with the health care or high tech sectors.

The report described the 10 most sought-after professions that pay at least $60,000. The study used projections from the US Bureau of Labor and Statistics in addition to interviews with local staffing professionals.

The job with the highest growth potential is industrial organizational psychologist. The prediction of growth for this profession is 53 percent over the next ten years. Salaries in this field range from $83,500 to $112,300. It is expected that in general the coming decade should show a high demand for experienced psychologists working for corporations.

Another field poised for large growth is that of diagnostic medical sonographers. Growth is expected to be about 46 percent over the coming decade.

The other professions looking to expand include:

Java Developer
Information Security Analyst
Pharmaceutical Regulatory Affairs Specialist
Biomedical Engineer
Orthotist/Prosthetist
Occupational Therapist
Audiologist
Genetic Counselor

Two New Businesses to Open in Schaumburg

January 28, 2016Business NewsBottle and Bottega, Karen Hautzinger, Schaumburg, The Noodle LoungeChicagoAdmin

The community of Schaumburg outside of Chicago is gearing up to welcome two new businesses; Bottle and Bottega, an art studio with food and wine available; and Noodle Lounge, an Asian restaurant.

The trustees of the Village of Schaumburg approved both enterprises and categorized them both as restaurnts although Bottega classifies itself not primarily as a restaurant.

Bottle and Bottega will open in Town Square at the southwest corner of Schaumburg and Roselle roads. The owner, Karen Hautzinger said she expects to open the business in April. This unique business, which will fill a 1,790 square-foot space zt 51 W. Schaumburg Road, offers its customers, who usually book in groups, the chance to paint and/or create art works while also plying them with food and wine, not to mentions socializing.

There are other Bottle and Bottega studios in Arlington, Glen Ellyn, Chicago, Evanston and laGrange.

Noodle Lounge was also approved by the trustees on the board. The Asian restaurant will take up 1,542 square-feet at 22 E. Golf Road in the Schaumburg Corners Shopping Center. The Lounge can seat up to 30 people, but the restaurant expects take-out meals to provide about 20 percent of its revenue.