Business

Business news

First State Bank of Mendota has added two new branches in Shabbona, both former locations of the Farmers and Traders State Bank of Shabbona, which was closed at end of business Friday by state regulators.

The Illinois Department of Financial and Professional Regulation appointed the Federal Deposit Insurance Corporation as receiver to protect depositors. The FDIC arranged with First State Bank to assume all deposits of Farmers and Traders.

An aviation expert says Chicago's plan to bolster air cargo capacity at O'Hare International could have a negative effect on surrounding airports. He says Rockford's airport could be among those affected.

  • House panel says Smith can be disciplined
  • Patient safety survey grades Sterling hospital “A”
  • Retired Illinois teachers got $900 million COLA bump
  • S&P weighs another Illinois ratings downgrade

Construction slows traffic in Machesney Park

Jun 4, 2012

Road construction is becoming a familiar scene this time of year. For the month of June, construction is expected to continue around the revamped Machesney Town Center.  All businesses will remain open during the road improvements, but it may take longer to get around.

Construction continues this month for the inside lane of Highway 251 around the area formerly known as the Machesney Park Mall.  New turn lanes are being added on 251 between Copper Drive and Roosevelt Road.

Meanwhile, pavement will be moving east, framing the intersection of Illinois 173 and Illinois 251.

Susan Stephens / WNIJ

A group of Rockford-area educators and business-people think they have an answer to one of the region’s employment problems: they’ve developed a path to take talented students all the way from high school to careers in the aerospace industry.

Susan Stephens / WNIJ

The much-heralded Dodge Dart should be in dealerships by the end of next month. To celebrate, Chrysler Group CEO Sergio Marchionne visited the home of the Dart Thursday -- the Belvidere Assembly Plant.

Facebook's much-publicized first sale of stock to the public started with a bang late this morning as the price per share jumped. But though the volume of shares sold was a record for an initial public offering, the stock's price gave up its gains as the day continued.

By the end of trading in the U.S., Facebook had settled right at the $38 initial offering price that had been set before shares went on sale.

The April unemployment rate in Illinois fell for the eighth consecutive month to reach8.7 percent, according to federal and state preliminary data released today.

The last time the unemployment rate was below 8.7 percent was February 2009, when it was 8.5 percent, according to the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security.

Susan Stephens / WNIJ

The United States Postal Service announced Thursday that it will soon begin consolidating dozens of mail processing facilities across the country. Part of Rockford's operations will be transferred to the Carol Stream distribution center. The other half will be absorbed by the facility in Palatine.

DeKalb County treasurer predicts additional rate increases and lower assessments for the next couple of taxing cycles.

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