Business

Woodward expansion
7:55 am
Thu August 23, 2012

Woodward Expanding Its Rockford Area Base

Governor Pat Quinn was on hand for a major jobs announcement in northern Illinois Thursday morning.  Woodward Incorporated says it will build a second campus in Loves Park. The aerospace manufacturer's local expansion will result in more than 600 new jobs over the next five years. 

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Renewable energy
10:05 am
Wed August 22, 2012

Wind farms advance in Whiteside, Ogle counties

The Whiteside County portion of a proposed wind farm near Deer Grove won approval Tuesday from the county board, while the Ogle County Board okayed a special-use permit for a wind farm near Baileyville.

Subject to conditions, Ireland-based Mainstream Renewable Power can build seven turbines in far southeastern Whiteside County. The board also approved two others, but officials said those need to get the nod from the Deer Grove village board.

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Business
2:22 pm
Wed August 15, 2012

Another quarter, another record for Deere & Co.

That's exactly the same headline as back in May, when the company reported record performance for the second quarter. This morning, Deere reported third -quarter net income totaled $788 million, or $1.98 cents per share, compared to $1.69 a year ago. It's the ninth consecutive quarter the company has reported record earnings. In addition, revenue and net sales jumped 15 per cent in the third quarter.

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Business
6:40 am
Tue August 14, 2012

China's rising labor costs create hope for Illinois manufacturers

In 2011, Illinois saw a net gain in manufacturing jobs. The Illinois Manufacturers' Association says it was the first time that has happened since the late 1990's. The association says there are several contributing factors, including the growing cost of producing products in China.

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Business
4:38 am
Fri August 10, 2012

U.S. Won't Prosecute Goldman In Fraud Probe

The Justice Department said Thursday it won't prosecute Wall Street firm Goldman Sachs or its employees in a financial fraud probe. In a written statement, the department said it conducted an exhaustive investigation of allegations brought to light by a Senate panel investigating the 2008-2009 financial crisis.

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High-speed rail
10:19 am
Tue July 31, 2012

Hearings set for Chicago-St. Louis high-speed rail study

A series of five public hearings will be held this month to seek comment on the draft Environmental Impact Statement for high-speed rail from Chicago to St. Louis.

Alternatives for accommodating higher speeds and additional round trips were narrowed down based on criteria that included residential and commercial impacts, travel time reductions, safety and environmental impacts.

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Business
9:56 am
Tue July 31, 2012

Simon says today is ‘The Onion Day’

Lt. Gov. Sheila Simon
iilinois.gov

Praising The Onion for uniting its business and editorial operations in Chicago, Lt. Gov. Sheila Simon has declared today “The Onion Day” to celebrate the digital media company’s consolidation of its headquarters in Illinois.

Formerly based in Madison, Wis., with its editorial staff headquartered in New York City, The Onion consolidated its media operations in Chicago this month, which will include a new studio for digital video production.

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Business
5:09 pm
Fri July 27, 2012

Officials break ground on expansion of City of Rochelle Railroad

City, state and federal officials and business leaders wield hammers and shovels in a ceremony marking the start of the railroad's expansion

Local, state and federal officials joined with representatives of private industry July 27th to break ground on an expansion of the City of Rochelle Railroad.

15 private and governmental entities were involved in developing the nearly $5 million project, the bulk of which will be paid for by federal and state grants.

State Representative Bob Pritchard says the effort serves as a good example for the rest of the country.

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Business
9:13 am
Fri July 27, 2012

GDP Report Confirms Fears Of Economic Slowdown

The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.

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Business
4:24 pm
Thu July 26, 2012

Gunite consolidates U.S. operations in Rockford

An Indiana auto parts maker is planning to consolidate its North American manufacturing operations in Rockford by early 2013.

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