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Morning 10: HOSPITAL BOARD SHAKEUP SPURS RESIGNATIONTuesday, June 19, 2012 Crain's Chicago Business 1. WALGREEN'S $6.7 BLN BOOTS BUY-IN Drugstore-chain giant Walgreen, moving to establish a global presence, agreed to pay $6.7 billion in cash and stock to acquire a 45 percent stake in Europe's Boots Alliance. Walgreen gets an option to buy the remainder of Boots in three years at a price of about $9.5 billion, and the company's top executive said Walgreen has "every intention" of completing that second stage deal. Read more here
2. DAMAGE CONTROL AT GROUPON Jason Child, Groupon's chief financial officer, sat down with Crain's reporter John Pletz ahead of the shareholder meeting today for a wide-ranging discussion of the company's direction following its rocky IPO, battered stock price and a high-profile accounting embarrassment. The job at hand is to restore investor confidence in the numbers "completely," he said, and to deliver revenue and profit growth -- along with "no drama." Here's the interview with Crain's
3. HOSPITAL BOARD SHAKEUP SPURS RESIGNATION Benn Greenspan, a professor at the University of Illinois at Chicago School of Public Health, abruptly resigned from the Cook County hospital board, citing his "dismay" at the substantial changes in board membership County Board President Toni Preckwinkle implemented through a recent shakeup. Read more in Chicago Health Care Daily
4. NEW BOSS AT KPMG CHICAGO KPMG LLP tapped 53-year-old Patrick Canning, currently the head of the accounting firm's Boston office, to run its larger Chicago operation. Mr. Canning, a 31-year KPMG veteran, will succeed Phil Rohrbaugh, 59, who is retiring. It's in Crain's
5. SABER RATTLING Investment firm Neuberger Berman LLC disclosed that it boosted its stake in OfficeMax to 5 percent from 4 percent, and also complained that the Naperville office supply concern, which isn't buying back shares or paying a dividend, isn't returning money to shareholders. As some investment firms are inclined to do, Neuberger suggested it might launch a proxy fight if things don't improve. It's in Crain's
6. NO MYSTERY HERE Chicago mystery writer Sarah Paretsky is a longtime Cubs fan but now "I'm gone, I'm done, I'm throwing away my Cubs caps and warm-up jacket, I'm staying away from Wrigley." Why? Because of Joe Ricketts. "It gives chutzpah a new definition to back a campaign against the president of the United States because you hate even the small safety net we have, and then, as patriarch of the billionaire family that owns the Cubs, ask us for $300 million to rebuild Wrigley," the author says. Read the full outburst here
7. MEETINGS SHOW TO MEET HERE Chicago and one of its key convention rivals, Orlando, have pulled away a small but influential trade show from Baltimore. The three-day Americas Meetings & Events Exhibition, run by Reed Travel Exhibitions, will rotate between the two cities, coming to McCormick Place in June of 2013. Read more in the Chicago Tribune
8. REIT LOOT Local real estate investment trust companies threw lots of money at their CEOs last year, with Ventas Inc. chief Debra Cafaro pulling down a whopping $18.5 million package. Details in Chicago Real Estate Daily
9. BOEING TAKES UP GOLF Boeing Co. has signed a long-term deal with prominent pro golfer Ernie Els, marking the aerospace giant's first-ever endorsement deal with an individual athlete, Danny Ecker reports. Read Danny's blog here
-- Separately, Ed Sherman reports, after Webb Simpson won the U.S. Open Sunday using a specialized putter, golfers are lining up to buy that version. "There's an old saying in golf: 'What plays on Sunday sells on Monday,'" explained the owner of Tinley Park-based Bettinardi Golf. Here's the story
10. NEW RETAILER LINK FOR THREADLESS Four months after it teamed up with Gap Inc., Chicago design company Threadless -- best known for its "crowd-sourced" T-shirts -- has launched a similar retail partnership with Bed Bath & Beyond, says Brigid Sweeney. Here's Brigid's blog
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Recent Headlines
Corruption trial of former Todd Stroger aide continues Wednesday, June 19, 2013 Chicago Sun-TimesWitness: Ex-Cook County Board head gave deputy signatory power Wednesday, June 19, 2013 Chicago TribuneMark your calendars for Films in the Forest Tuesday, June 18, 2013 ChicagoNowProsecutor: Ex-Stroger aide looted County Tuesday, June 18, 2013 Chicago Sun-TimesCook County Board to slash tax on shopping across the border Tuesday, June 18, 2013 Chicago Sun-TimesCook sheriff moving to be IG in suburbs Friday, June 14, 2013 Chicago Tribune$90 million county medical facility opens for inmates Thursday, June 13, 2013
Forest preserve plans to spruce up Thursday, June 13, 2013 Chicago TribuneCook County Sheriff: Concealed carry bill 'fatally flawed' Wednesday, June 12, 2013 The Associated PressCook County's watchdog sues Assessor for ignoring subpoena Wednesday, June 12, 2013 Chicago Sun-TimesCook County Forest Preserve turns 100 Wednesday, June 12, 2013 Daily SouthtownPreckwinkle to announce re-election campaign Tuesday, June 11, 2013 Chicago TribuneCook County seeks $180 million in strip-search insurance flap Tuesday, June 11, 2013 Crain's Chicago BusinessCircuit court clerk's failed cash grab Sunday, June 09, 2013 Chicago TribuneCook County e-filing expands to Civil Division, suburban districts Friday, June 07, 2013 Chicago Daily Law BulletinTax Year 2011 Annual Tax Sale Thursday, June 06, 2013 Special to suffredin.orgStroger LGBT clinic to serve detained youth Wednesday, June 05, 2013 Windy City TimesToni Preckwinkle endorses plan to cut county government's energy bill Wednesday, June 05, 2013 Chicago Sun-TimesExecutive Summary Report by the CookCounty Sustainability Advisory Council Tuesday, June 04, 2013 Special to suffredin.orgCook County To Begin Collecting DNA Samples After Supreme Court Ruling Tuesday, June 04, 2013 CBS/WBBM
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