Business news

Mitsubishi Motors Corporation

Mitsubishi's top selling vehicle is now made in Illinois. The Japanese automaker has shifted production of the Outlander Sport to its only U.S. production facility in Normal.

Gov. Pat Quinn, who attended the ceremony launching the Japanese automaker's latest U.S. product, touted the sporty crossover SUV during remarks to 1,200 plant workers, company executives, and other officials.

"It's fuel efficient and it's made in America and made in Illinois,” he said. “That means a lot to me, and I think to everybody in our state, that your skill has crafted this vehicle that not only will supply the automotive needs of our country but also the export possibilities."

The two major electric utilities in Illinois ranked at the bottom of the annual household customer satisfaction survey of large Midwest electric utilities released today by J.D. Power and Associates and in the bottom four of 14 in business customer satisfaction.

Commonwealth Edison Co. ranked worst in household satisfaction with a score of 579 on a scale of 1,000 points, and eleventh in business satisfaction with a score of 642.

Ameren Illinois, with a score of 606, was just above ComEd in the household survey and was dead last in the business category with a score of 610.

A Rock County, Wis., town’s attempt to require a livestock farm to meet stricter water than state regulations was rebuffed Wednesday by the Wisconsin Supreme Court.

The Town of Magnolia, on State Route 213 in northern Rock County, granted a permit to Larson Acres Dairy in 2006 but imposed conditions aimed at controlling nitrate levels in water sources near the 2,900-cow facility.

Legal Helpers Debt Resolution LLC will provide $2.1 million in restitution for Illinois residents who paid for debt settlement services but failed to receive meaningful debt reduction under a settlement with Illinois Atty. Gen. Lisa Madigan and the Illinois Department of Financial and Professional Regulation.

The Chicago-based law firm, which operates nationwide, allegedly charged consumers upfront fees to provide debt settlement services with promises to make them debt free.

The BMO Harris Bank location in South Beloit will be among the 24 bank branches to be closed in October as part of merger activities with Wisconsin banking company Marshall & Ilsley Corp.

The South Beloit branch was acquired in 2010 when Rockford-based AMcore bank was closed by regulators and the assets sold to Chicago-based BMO Harris.

Three Winnebago County communities have signed a joint electricity aggregation agreement with FirstEnergy Solutions of Akron, Ohio, to supply power at a discounted rate for residents and businesses with an overall savings of nearly $20 million.

The Cities of Rockford and Loves Park and the Village of Pecatonica signed an intergovernmental agreement earlier in the year to bid jointly for contract as a result of the referendum approved in March.

U.S. Marshals Service

At least some of the more than 400 prime quarter horses belonging to former Dixon Comptroller Rita Crundwell  should go on the block at a multi-day, live public auction later this summer in Dixon under a proposal by the U.S. Marshals Service.

Using,the Marshals Service has posted a dozen or so documents detailing the requirements to bid for the contract – including the fact that it is open only to small businesses.

The Rockford metro area unemployment rate fell nearly one percentage point in May  to 10.4 percent and payroll employment grew by 3,400 jobs or 2.3 percent, according to preliminary data released today.

The Illinois Department of Employment Security (IDES) and the U.S. Department of Labor said unemployment fell in eight metro areas, increased in two and essentially was unchanged in two compared to last year, according

The data comparing May 2012 to May 2011 is not seasonally adjusted. The state unadjusted rate has dropped every month this year.

Two Illinois Congressmen from opposite sides of the aisle are working together to promote legislation aimed at strengthening American manufacturing.

U.S. Rep. Daniel Lipinski, D-3, originated The American Manufacturing Competitiveness Act and U.S. Rep. Adam Kinzinger, R-11, signed on as co-sponsor.

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.