Business - chicagotribune.com

Striking machinists reject Cat's latest contract

By Alejandra Cancino — Wed, 30 May 2012 12:56:00 CDT

Workers at a Caterpillar Joliet plant, on strike since May 1, on Wednesday rejected a new contract proposal.

GE Transportation HQ moving to Chicago

By Kathy Bergen and John Byrne — Wed, 30 May 2012 13:00:00 CDT

GE Transportation,a manufacturer of equipment for the rail, mining and marine industries, will relocate its global headquarters to Chicago from Erie, Pa.

Study: 401(k) fees could cut nest egg by 30%

By Walter Hamilton, Los Angeles Times — Tue, 29 May 2012 21:55:00 CDT

The average U.S. couple could pay nearly $155,000 in fees for their 401(k) plans over their careers, according to the analysis by Demos, a nonpartisan research organization.

Here's the latest scary retirement statistic.

Kennedys plan for 3-tower riverfront complex

Blair Kamin , Chicago Tribune reporter — Wed, 30 May 2012 12:57:00 CDT

3-building plan, backed by Kennedys, would be biggest Chicago development since recession, financial crisis

Representatives of the Kennedy family and three financial partners on Tuesday provided the first glimpse of a proposed three-tower office complex along the Chicago River.

10-year Treasury bond yields at 60-year low

Wed, 30 May 2012 08:30:00 CDT

The yield on benchmark U.S. 10-year Treasury notes fell to its lowest level in at least 60 years on Wednesday as contagion worries about the Spanish banking system intensified bids for U.S. government debt and other low-risk investments.

Suit alleges racial discrimination by United

By Gregory Karp — Tue, 29 May 2012 19:38:00 CDT

United Airlines was sued Tuesday in California by 24 African-American employees, including three Illinois pilots.

U.S. small businesses hire fewer workers in May

Wed, 30 May 2012 05:45:00 CDT

U.S. small businesses hired fewer workers in May and cut hours for those on their payrolls, an independent survey showed on Wednesday, raising prospects of another disappointing employment report.

Chrysler dropping Compass, Town and Country

By Michael Oneal — Tue, 29 May 2012 17:12:00 CDT

Chrysler Group's Belvidere plant will stop making the Jeep Compass crossover by 2014, according to trade press reports. The move is part of a switch in focus to the new Dodge Dart, which began production at the plant this month.

Chicago area home prices hit new low in March

By Mary Ellen Podmolik — Tue, 29 May 2012 13:35:00 CDT

Nationally, home prices for the 20 metropolitan areas were flat

Home prices in the Chicago area hit a new post-housing crisis low in March, falling to levels not seen locally since April 2000, according to the widely watched S&P/Case-Shiller home price index, released Tuesday.

Legislation defines charity care for hospitals

By Peter Frost, Chicago Tribune reporter — Tue, 29 May 2012 20:55:00 CDT

Bill allows hospitals to maintain property tax exemption if they provide charity care equal to their tax liability

Not-for-profit hospitals in Illinois facing the specter of paying millions in property taxes were granted a reprieve Tuesday.