Crain's Chicago Business

(AP) — Diners Club International said Monday it's changing its logo, card, Web site and advertisements to reflect its new ownership under Discover Financial Services Inc. The new ads focus on everyday card use rather than travel and entertainment. This marks the company's first major ... Full Story »

(AP) — Abbott Laboratories said Monday it will pay $123 million in cash to acquire Starlims Technologies, a company that makes software used to manage laboratory testing. Under the terms of the agreement, Abbott will acquire the Hollywood, Fla., company for $14 per share. Abbott expects ... Full Story »

(Crain’s) — One of the last remaining senior executives at PrivateBancorp Inc. who predates the hiring of former LaSalle Bank CEO Larry Richman is leaving. Gary Collins, executive managing director and president of the bank’s Chicago private banking and wealth management operation, is ... Full Story »

(Reuters) — Viacom Inc.-owned Paramount Pictures extended on Monday a trial agreement with Redbox to June 2010, agreeing to provide the kiosk rental chain with DVD releases, but putting off a decision on whether to sign up with the company for a five-year pact. The ongoing partnership between ... Full Story »

(Crain’s) — Chicago-based 7ticks LLC, which provides high-speed connections to exchanges for hedge funds and other trading clients, has agreed to be acquired for as much as $51 million by Interactive Data Corp. The agreement, set to close in early 2010, calls for a cash payment of $30 ... Full Story »

(Crain’s) — Discover Financial Services Inc. has rejiggered executive compensation to pay its top officers far higher salaries to compensate for the company’s inability to pay bonuses while it retains federal bailout funds. The Riverwoods-based credit card company will pay CEO David Nelms ... Full Story »

(Crain’s) — HTG Capital Partners, a 100-person trading firm based in Chicago, acquired Kingstree Trading Group, which at one time accounted for 25% of stock-index futures trading at the Chicago Mercantile Exchange. The acquisition by HTG — itself the product of a July merger between ... Full Story »

(Crain’s) — R. J. O’Brien & Associates Inc., a Chicago-based firm that bills itself as the biggest independent futures brokerage in the U.S., stands to lose as much as 15% of its customer assets in January when one of its largest clients takes its accounts in-house. But the loss of ... Full Story »

(AP) — Tribune Co. on Monday named Jerry Kersting, an executive vice president at the media company, as chief operating officer of its broadcast group. Kersting's appointment takes effect immediately. It follows last week's appointment of Gerry Spector as Tribune's chief operating officer to ... Full Story »

(Reuters) — Troubled lender Amcore Financial Inc. said it sold about $135 million in non-strategic, non-relationship loans in a bid to boost its depressed capital levels, sending its shares up as much as 40 percent. Shares of Rockford-based Amcore touched $0.74 late afternoon Monday on ... Full Story »

(AP) — Aircraft maker Boeing Co. said Monday that Panama's Copa Airlines has ordered two more 737-800s. It said the order is valued at $152 million at list prices. That brings to 15 the number of 737-800s the Copa has ordered this year. Boeing said its next-generation 737 flies higher, ... Full Story »

(Crain’s) — Navistar International Corp. scored a potential reprieve Monday when the federal government upheld its protest of a $2.3-billion military contract awarded to rival Oshkosh Corp. for trucks and trailers to haul cargo. Navistar and Texas-based BAE Systems Inc. challenged the ... Full Story »

(Crain’s) — A local $1.2-million foundation-led effort to boost participation in the 2010 Census is putting the Chicago area at the forefront of preparations for the decennial head-counting. “Some groups and some areas are not as energized as others,” U.S. Census Bureau Director Robert ... Full Story »

(Crain’s) — Alberto-Culver Co. announced Monday that it is buying a British skin care company for about $390 million. Melrose Park-based Alberto-Culver has agreed to buy Simple Health & Beauty Limited from the European private equity firm Duke Street. The Simple skin care brand is the ... Full Story »

(Crain's) — Accenture Ltd. has become the first major sponsor to officially dump Tiger Woods in the wake of the scandal surrounding the golfing superstar's marital-fidelity woes. The consulting firm announced the move Sunday. "For the past six years, Accenture and Tiger Woods have had a ... Full Story »

(AP) — Terra Industries Inc. on Monday said its board rejected CF Industries Holdings Inc.'s latest sweetened hostile buyout bid, saying it "continues to substantially undervalue Terra." The fertilizer producer’s board "believes the market consensus is shifting to reflect the brighter ... Full Story »

(AP) — Caterpillar Inc., the world's largest maker of construction and mining equipment, said Monday that it signed a joint-venture deal with a Chinese company to create a remanufacturing business. Caterpillar (China) Investment Co. Ltd. and China Yuchai International Ltd.'s Guangxi Yuchai ... Full Story »

(AP) — Cadbury PLC revealed Monday it has received approaches from The Hershey Co. and Italy's Ferrero International SA as it launched a robust defense against a hostile $16.3 billion from Kraft Foods Inc. Cadbury Chairman Roger Carr said the statements of intent from Hershey and Ferrero were ... Full Story »

(AP) — Wendy's burger chain severed its agreement with its sole franchise owner in Japan, temporarily leaving a market long dominated by McDonald's Corp. Japan's burger business has long been dominated by McDonald's, which is said to enjoy around a 65 percent market share. McDonald's ... Full Story »

(Crain’s) — ShoreBank co-founders Ronald Grzywinski and Mary Houghton, who’ve led one of the country’s most high-profile community banks for more than three decades, are easing out of their leadership posts, the bank announced to employees today. Mr. Grzywinski, 73, and Ms. Houghton, 68 ... Full Story »

(Crain’s) — Bowing to congressional pressure, Metra is backing down from its plans to buy a new type of locomotive that promises to burn less fuel while producing less noise and pollution. The dispute pits two competing locomotive manufacturers in Illinois, Mount Vernon-based National ... Full Story »

(Crain’s) — In a surprise move, U.S. Foodservice Inc. President and CEO Robert Aiken has resigned, leaving Chicago’s largest privately held company and the nation’s second-largest food distributor in search of a new leader. An internal memo to employees dated Thursday said Mr. Aiken had ... Full Story »

(AP) — Virgin America Inc. is eyeing Chicago as the British carrier looks to expand its service next year. The airline’s Chief Executive Officer David Cush said in an interview that he will probably launch service to O’Hare Airport from Los Angeles and San Francisco as part of an ... Full Story »

(Reuters) — Cadbury Plc will argue for its independence on Monday with a defense document set to highlight its upbeat trading and show that its valuation is way above that of Kraft Food's bid, analysts said on Friday. The American group's hostile cash and shares offer is currently worth 725 ... Full Story »

(AP) — Morningstar Inc., a provider of investment research, said Friday it has agreed to buy Logical Information Machines Inc. for $51.5 million. Logical Information, founded in 1989, provides data and analysis to the energy, financial and agricultural sectors. It has about 80 employees in ... Full Story »