Chicago Economic & Finance News - Page 81

Ch.G, Ch.G · #**1601** Posted: **May 15, 2012, 11:54 PM**

Quote:

Originally Posted by the urban politician

Always great to see this kind of collaboration between Chicago's heavyweight research institutions:

Argonne to work with Northwestern, U of C on materials science research

Great news. The director of Argonne wants to create an "innovation ecosystem." Definitely the right idea: Chicago has some major institutions, but, IMO, there's not enough synergy as there could/should be. The article also mentions that Boeing will be playing a roll as well, a benefit of having a goliath like Boeing headquartered in your city that folks who claim headquarters don't really matter fail to consider.

HowardL · #**1602** Posted: **May 16, 2012, 12:07 AM**

And then there were three ...

NYSE Euronext out of bidding for LME - spokesman

Actually, this FT article is more detailed. Last paragraph could be worrisome.
NYSE Euronext knocked out of LME race

rgolch · #**1603** Posted: **May 16, 2012, 1:11 AM**

Quote:

Originally Posted by HowardL

And then there were three ...

Actually, this FT article is more detailed. Last paragraph could be worrisome.
NYSE Euronext knocked out of LME race

You wanna summarize that last paragraph. Not sure I really want to register for the FT.

the urban politician · #**1604** Posted: **May 16, 2012, 2:34 AM**

Quote:

Originally Posted by rgolch

You wanna summarize that last paragraph. Not sure I really want to register for the FT.

^ Really nothing worrisome in that last paragraph. It's just that 3 very large investment institutions own 75% of LME, and thus if the mutually disapprove of a deal, it won't happen.

the urban politician · #**1605** Posted: **May 16, 2012, 11:47 PM**

After looking at other states and the suburbs, a fast growing financial company in the West Loop decided to move downtown, without any incentives:

PLS moves headquarters to 1 South Wacker

HowardL · #**1606** Posted: **May 17, 2012, 4:06 AM**

Quote:

Originally Posted by the urban politician

^ Really nothing worrisome in that last paragraph. It's just that 3 very large investment institutions own 75% of LME, and thus if the mutually disapprove of a deal, it won't happen.

Worrisome in the sense that they may not have the best interest of a transparent, liquid, cleared market at heart. I don't know that they are customers of the exchange but in the exchange market space, clients may also be competitors. They could well be looking to position the sale so that it is not the best fit for the exchange but that it is the best/least interfering fit for their off exchange/non-cleared interests. From my perspective, CME is the best fit for trading interests with existing clearing and deep liquidity. They may see it otherwise. That is worrisome.

clark wellington · #**1607** Posted: **May 17, 2012, 9:47 PM**

Quote:

Originally Posted by the urban politician

After looking at other states and the suburbs, a fast growing financial company in the West Loop decided to move downtown, without any incentives:

Great to see another fast-growth company moving downtown, though I don't know how excited I am about a payday loan company being one of our top-growing firms...

the urban politician · #**1608** Posted: **May 18, 2012, 3:02 AM**

Quote:

Originally Posted by clark wellington

Great to see another fast-growth company moving downtown, though I don't know how excited I am about a payday loan company being one of our top-growing firms...

^ Bah, I could care less.

I long ago abandoned the idea that corporate America, of pretty much any variety, had any sort of integrity. Payday loan sharks are, in a sense, not really any different than what everybody else is trying to do--provide a service for as great a profit as possible.

the urban politician · #**1609** Posted: **May 18, 2012, 3:07 AM**

Small businesses fuel Chicago exports abroad
May 16, 2012

Quote:

Last year, statistics showed export growth from Illinois up 29 percent, an "astounding" figure, said Carducci, especially since that was almost twice the average rate of national growth. (Interested more on national export data? Here's some recent analysis from Brookings Institution).

Quote:

And the vast majority – as much as 90 percent - of those exports come from small to medium sized companies

The 10 Most Economically Powerful Cities in the World
(Chicago ranked number 6)

Chicago: The Second City at a Crossroads
MAY 14 2012, 1:25 PM ET
Why the nation's third-largest metro is due for a manufacturing comeback

rgolch · #**1610** Posted: **May 18, 2012, 2:04 PM**

Nice find TUP. Even though our city has a ton of work to do on the road to improvement, we're still holding our own. Anyone think the ten list deserves a post in city discussions?

bnk · #**1611** Posted: **May 18, 2012, 5:05 PM**

He did already. One response so far.

http://forum.skyscraperpage.com/showthread.php?t=199401

HowardL · #**1612** Posted: **May 18, 2012, 11:27 PM**

Unfortunately, I don't think that nearly enough people understand the importance of CME to this city. I have been on the edge of my seat for weeks over LME. This stuff is making me crazy. It's looking to be a HK/Chicago contest. ICE could likely try a run up ... not the first time they've done this ala CBOT merger, but HKEx wants this bad. How bad does CME want this ... that depends.

There was the news earlier this week about HKMEx (tiny in comparison) being vocal about HKEx's favoured status. But HKEx will, I think, give it their all. A little HK on HK antagonism couldn't hurt.

Hong Kong bid for LME bourse puts squeeze on rivals

the urban politician · #**1613** Posted: **May 19, 2012, 5:33 AM**

Quote:

Originally Posted by HowardL

Unfortunately, I don't think that nearly enough people understand the importance of CME to this city. I have been on the edge of my seat for weeks over LME. This stuff is making me crazy. It's looking to be a HK/Chicago contest. ICE could likely try a run up ... not the first time they've done this ala CBOT merger, but HKEx wants this bad. How bad does CME want this ... that depends.

There was the news earlier this week about HKMEx (tiny in comparison) being vocal about HKEx's favoured status. But HKEx will, I think, give it their all. A little HK on HK antagonism couldn't hurt.

Hong Kong bid for LME bourse puts squeeze on rivals

^ Why does CME group not winning the bidding war for LME somehow jeopardize its success as an exchange?

From the article:

Quote:

At a recent townhall style meeting CME senior managers said the LME would be a nice to have but was not a "must have", a second source said.

the urban politician · #**1614** Posted: **May 19, 2012, 1:21 PM**

Utopia raises $50M, to add 500 employees

HowardL · #**1615** Posted: **May 20, 2012, 1:01 PM**

Quote:

Originally Posted by the urban politician

^ Why does CME group not winning the bidding war for LME somehow jeopardize its success as an exchange?

It certainly does not jeopardize the success of the exchange. CME is already massively successful. The acquisition of a London-based exchange would allow CME to grow the European business. Clearing Europe has been a key first step in this grow strategy and having LME would extend that. CME has been in an organic growth/strategic partnership mode lately (BVMF, BMD, KRX, MexDer, DME). CME as an exchange operator in London would be hugely beneficial.

rgolch · #**1616** Posted: **May 22, 2012, 2:30 PM**

CME out of the running

http://www.chicagotribune.com/busine...,3523626.story

HowardL · #**1617** Posted: **May 22, 2012, 11:18 PM**

Quote:

Originally Posted by rgolch

CME out of the running

That stung just a little bit this morning.

Chief Blackhawk · #**1618** Posted: **May 23, 2012, 12:30 AM**

Quote:

Originally Posted by HowardL

That stung just a little bit this morning.

It stung? It was outright insulting that ATL's ICE is still in the running. Hope that CBOE makes an offer to LSE before NASDAQ can get their grubby hands on the trans-atlantic market.

lawfin · #**1619** Posted: **May 23, 2012, 4:55 AM**

Awesome

http://www.chicagotribune.com/featur...,6412117.story

Can't wait for opening and for word on FFF;

Now I talked to some guys at russian river a few weeks ago they are paying down debt......who knows in a few years we might have Pliny the Elder here in Chitown

Baronvonellis · #**1620** Posted: **May 23, 2012, 4:46 PM**

Walgreens CFO moves to Noble Square.

http://www.chicagorealestatedaily.co...s-noble-square

Just another good sign for the city. I think it's cool that a CFO of Walgreens a suburban company is choosing to move to the city. When of course he could buy a house anywhere in the northshore and be closer to work. It's really good for the health of the city when business leaders are choosing to live in the city instead of the suburbs.

Maybe Walgreens will move to the city if senior management is choosing to move to the city on their own.