Sears Holding Corp., parent company to Sears and Kmart, is considering a move from its corporate headquarters after a tax incentive package failed to pass the state House of Representatives. More than 6,000 employees work at the Hoffman Estates, Ill., campus.
Thousands of jobs are on the line in a competition between states over the corporate headquarters of Sears. Several states are offering tax incentive packages to try to lure the company away from Illinois, including one bid from Ohio that's worth up to $400 million.
The Sears Holding Corp., parent company to Sears and Kmart, says it is seriously considering the offer after Illinois lawmakers failed this week to approve a package of tax incentives aimed at keeping Sears and another corporate giant from leaving.
Originally published on Fri December 2, 2011 5:55 pm
Not long ago, economists and others expressed concerns that China's economy was expanding too quickly. Now, the latest data are raising concerns about a slowdown — and the woes it could trigger.
With a sluggish U.S. economy and troubles in the eurozone, Chinese exports are taking a hit, causing a slowdown on shop floors in Shanghai and Shenzhen. Earlier this week, the Chinese Purchasing Managers' Index, or PMI, fell to its lowest level in nearly three years.
As we've noted before, 2011 has been a great year for Internet companies seeking to go public. Today, Zynga said it hoped to price its shares at $8 to $10 per share during its initial public offering later this month. Depending on whose math you trust, that means the company will try to raise about $1 billion and the debut could value the company at $7 billion. (Some news outlets are putting that number as high as $9 billion.)
What is Zynga you ask? They're the makers of social games like Farmville and Cityville.
The unemployment rate dropped unexpectedly to 8.6 percent in November, in part because hundreds of thousands of Americans stopped looking for work. But analysts said the modest increase of 120,000 jobs created last month points to an economy that's generally still limping.
Bluebox Now CEO Naresh Dhiman attends a TechStars retreat with other startup founders at a cabin outside Seattle. His wife is considering getting a job so he can continue to focus on the company.
Credit Shlomi Atar / Courtesy TechStars
Chad Reed, co-founder of Bluebox Now, practices his pitch to potential investors. The company participated in a startup boot camp in Seattle called TechStars.
Credit Courtesty TechStars
A crowd mills at Demo Day for the technology incubator TechStars in Seattle, where a group of startups presented their pitches to investors. Marketing firm Bluebox Now pitched their product at Demo Day, but faces tough decisions about their future.
Launching a new company is never easy. But in the beginning, the founders of Web-based marketing firm Bluebox Now felt they were on track. The Seattle startup lined up a large paying customer, had a lot of other great leads and was reasonably confident it would get a sizable amount of outside funding. A lot has happened since then.
New Orleans, La. – The Vice President said New Orleans and other cities and agencies will soon have an opportunity to shed some crushing debt. He said communities must show they still need help to have those loans forgiven.
He made the announcement at the St. Bernard Community Center. Senator Mary Landrieu joined Biden at the event attended by about 300 people. She also arranged for him to visit southwest Louisiana communities still recovering from hurricanes of 2005.
New Orleans, LA – Discouraging financial news seemed inescapable last year as America's economy continued to limp along. But narrow the focus to the realm of New Orleans restaurants and you might have thought 2009 was a boom year.