June 2014 Archives

Old Post Office to get new face in commercial real estate venture

Chicago's Old Post Office has stood vacant for several years. Now, its 2.7 million square feet of space is going to get a facelift. The plans for this commercial real estate venture include retail space, office space and other purposes.

Marketing, Facebook and small business formation in Illinois

Current and future small business owners in Illinois may not realize that nearly 30 million small businesses (SMBs) have fan pages on Facebook that are active. That number has increased by approximately 25 million just since last year. For entrepreneurs looking at small business formation, using the social media giant's services could prove to be an important marketing tool.

Appeals court says insurance company did not breach contracts

Life insurance companies such as John Hancock Life Insurance Company often have proceeds from life insurance policies that do not get claimed. In June 2011, Hancock and several states -- including Illinois -- came to an agreement as to how those unclaimed proceeds would be handled by the company. Subsequently, a federal class action lawsuit was filed by a man claiming that Hancock breached contracts with beneficiaries because the regulatory agreement with the states created new obligations on the part of the insurance company with regard to beneficiaries of those unclaimed proceeds.

After consulting with small businesses, new tax credit could pass

If businesses leave Illinois, revenue for the state and local economies disappears along with the jobs that a business supported. After consulting with small businesses, a bill is working its way through the state legislature to provide a tax credit to companies that remain in the state. The bill has already passed in the House and is on its way to the Senate.

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