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Crain's Chicago Business

 

An estimated 35 million Americans are hearing-impaired, yet less than a third of them use a hearing aid. One reason: A typical hearing aid costs $1,500 while top-of-the-line models go for as much as $5,000, too much for many people.

A Massachusetts food processor is opening a factory in northwest suburban Wheeling, bringing more than 125 new jobs to the state.

An ex-partner in the Chicago office of McKinsey and a former internal consultant at State Farm have been indicted on fraud charges for allegedly billing $890,000 in false consulting and travel expenses.

Wisconsin-based contractor Novum Structures has admitted it passed off foreign construction materials as American and has agreed to pay $3 million in civil and criminal settlements.

Another personal quick-fired pizza chain will break into Chicago by early summer, adding to a growing build-your-own pizza fad.

A city panel approved a $15.9 million subsidy for a new luxury apartment project in Uptown, a financial incentive criticized by Uptown residents and community activists as an unjustified handout for the building's developer.

Chicago chef Thai Dang, who co-founded and formerly cooked at Embeya, a progressive Asian restaurant in the West Loop, won a lawsuit against the owners alleging they didn't pay him an agreed-upon salary.

For 10 years, Morlen Sinoway hosted the annual Guerrilla Truck Show in June, an event where furniture makers, designers and artists displayed and sold work out of trucks that lined up near his gallery's loading dock in Fulton Market.

Chicago-based staffing and recruiting firm LaSalle Network is expanding its Loop offices to make room for new hires.

Despite the U.S. showing steady job growth in recent years, Chicago is far behind the curve, compared with other major cities. And one critic suggests politics and taxes could be to blame.

Homeownership in the Chicago area fell last year to its lowest in 16 years, as more people continued to rent than buy out of necessity or choice.

One of Chicago's biggest residential developers is teaming up with General Motors on a car-sharing program for people who live in its buildings.

To combat pesky and possibly dangerous mosquitoes that plague backyards during the summer, one Virginia company has come to the Chicago area with a solution and has plans to expand.

After tweaking his back 15 years ago, personal trainer Jason Bowman began exploring muscle rehabilitation techniques. He shared his findings with client Robert Gearhart Jr., a registered nurse, and together, they came up with a fitness machine designed to correct posture and alleviate back pain.

Chicago developer AJ Capital Partners has picked one of its own to lead the expansion of Graduate Hotels, its chain of college-town hotels.

A lawyer for Block 37 developer Laurance Freed said his client did not lie or make false statement to banks or the city of Chicago to obtain funding and loans.

Tensions flared in federal court yesterday when a lawyer for Block 37 developer Laurance Freed denied all accusations that his client lied to banks to obtain funding for projects, calling the prosecutors' theories “crazy” and “absurd.”

A federal jury has found Chicago developer Laurance Freed guilty of lying to banks and City Hall over two local real estate investments.

Small business owners have a glum outlook on Chicagoland's economy for 2016, according to the latest Chicagoland Small Business Economic Outlook Survey, released Jan. 19 by the Chicagoland Chamber of Commerce and Loyola University Chicago's Quinlan School of Business. Nonetheless, they are forecasting growth in their businesses and in hiring.

 

The number of minority-owned businesses increased by 30 percent in Cook County from 2007 to 2012, according to the U.S. Census Bureau, while the number of nonminority-owned businesses shrank by 2 percent.

Local and international artists will have their work displayed for the next six months in the South Loop as part of an initiative led by a local college that aims to add some zest to the area of Wabash Avenue between Van Buren Street and Roosevelt Road.

The Illinois budget deadlock is making it harder for students at the Illinois Institute of Technology to pay for college.

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