Illinois Economy

Business and economic news

Krispy Kreme

Bill and Tim show they are good journalists by talking about Doughnuts, microbrew and meat.

University of Illinois Chicago

Tim and Bill talk about the latest on railroad improvements in Springfield and also doughnuts.

On the WUIS/SJR Business Report,  A look at some of the area business news affecting you including a two weeks shutdown of rail service and the city of Springfield trying to sell the idea of a second lake as a regional water source.

flickr/DianaParkhouse

Springfield area home sales are up slightly compared to last year.

Illinoisroute66.org

Tim and Bill chat about a big Route 66 memorabilia auction this weekend & a car dealership next to White Oaks Mall.

KatherineJohnson/flickr

It's perhaps the most recognizable symbol of the Illinois State Fair.  And due to the state budget gridlock, no payment has been made to the sculptor.

Caterpillar

Peoria Mayor Jim Ardis says he expects the city and region to absorb a sizable hit as manufacturer Caterpillar plans to reduce its workforce by as many as 10,000 people.  

Ardis told The Associated Press Thursday that the company has not shared specifics about the local impact of what could amount to an 8 percent reduction to its global workforce of 126,800 by 2018. Half of those cuts are expected by the end of next year.  

Law firms pushing farmers to sue Syngenta on this week's WUIS/SJR Business Report:

U.S Department of Energy

Illinois appears to have a lot of potential for growth in wind energy.     One area that some say is ripe for development is wind farms off the shores of Lake Michigan.   However one expert is not so bullish on the idea.

nasda.org

The four lane highway between Springfield and Taylorville should be complete by next year.  Bill Wheelhouse and Tim Landis chat about that on this weeks SJR/WUIS Business Report:

SJ-R

State Journal-Register Business Editor Tim Landis talks with us about the planned closures of a longtime tavern and a comedy club.   And we hear about changes coming to the MacArthur Park Apartments:

http://www.infouas.com/la-policia-de-california-dispuesta-a-emplear-drones/

Prometheus Books

Businesses strive to be more efficient.  Often, that comes at the expense of jobs.  But Peter Wenz sees a way all can benefit. 

In his book Functional Inefficiency, he examines how some of the most labor-intensive sectors also are inefficient.  But they employ people and, in turn, help the overall economy.

We talked more with the author, who is also a Professor Emeritus at the University of Illinois Springfield.

Despite the U.S. being reliant on China for exports, many Americans have a hard time understanding what is taking place with the world's largest economy. 

We figured it was a good time to bring in Roy Wehrle, Professor Emeritus of Economics at the University of Illinois Springfield. 

sj-r.com

On this week's report Tim and Bill discuss some hi-tech jobs coming to Springfield, a drop in soybean prices and some big piles of rubble.

Every August, Spain's countryside comes alive with fiestas.

A jolly trombone player prances through a crowd of revelers in Cantalejo, a small town about 1 1/2 hours' drive north of Madrid. But the hubbub is deceiving — because hardly anyone actually lives here. People come one week a year to party in the villages of their ancestors. During the other 51 weeks, towns like this are deserted.

University of Illinois

Do you think downtown Springfield parking is a challenge? Study says about 50% of spaces are used.

That is among topics Bill and Tim discuss on this weeks biz report:

NASA

Asbestos in a demolition project on Springfield's north end, Krispy Kreme coming to town and "Saving A Seal"

On this weeks WUIS/SJR Business Report Bill and Tim talk about Obama's energy announcement and Illinois coal,  a Sangamon County wind farm and an update on local hospital construction.

hilton.com

Spingfield's "skyscraper" will be changing labels at the end of the year.  Tim Landis and Bill Wheelhouse chat about the transition of the Springfield Hilton on the Business report.

Mitsubishi Motors says it plans to stop U.S. production at its facility in central Illinois and sell the plant.
 
Dan Irvin, tthe company's North American spokesman, said Friday that the Japanese automaker reviewed its global supply chain and decided it was necessary to end production at the plant and find a buyer.

Justin L. Fowler/The Journal Register

Tim chats with Bill about saving the iconic seal from the remnants of the Bel Air Motel & an Emerald Ash Borer infestation at the State Fairgrounds.

Lisa Ryan/WUIS

The SJ-R's Tim Landis talks about the Logan County wind farm proposal, gives us an update on demolition around Springfield and a Springfield based company is growing.

SJ-R

Tim Landis, Business Editor of the State Journal-Register, talks about 3 downtown Springfield building projects.  Historic items were discovered during the work being performed by Rick Lawrence, whose ultimate plan is for apartments, offices, restaurants, etc.

Also, Magro Meats and Produce is looking to open this fall in the former Eagle grocery store along Stevenson Drive. 

SJ-R.com

Each week, State Journal-Register Business Editor Tim Landis joins us to talk about area business news. 

SJ-R.com

Tim Landis, Business Editor for the State Journal-Register, joins WUIS' Sean Crawford to discuss who is interested in developing the YWCA block in downtown Springfield.  7 developers submitted letters to the city, although only one was local.

Ruler Foods, a discount brand of Kroger, is looking to make MacArthur Boulevard its second Springfield location.  There is already a story on Sangamon Avenue.  The company has a contract to purchase the former Esquire Theater,  but there is no construction schedule.

bluffstone.com

Developers are moving forward with plans to bring student housing to downtown Springfield. But it's not clear whether the city council is on board.

siumed.edu

Springfield's population is expected to increase over the next quarter-century but at a lower rate than in recent years.  Tim Landis of the SJR discusses his reporting on the issue with Bill Wheelhouse.  Also a different Parsons in bankruptcy court and goodbye New Coney Island.

State Farm

State Farm Insurance Cos. says Chief Operating Officer Michael Tipsord will become the private company's next CEO in September and its first new leader since the mid-1980s.  

In a statement Thursday, the Bloomington-based company said Tipsord will take over for CEO Ed Rust Jr. Rust has been CEO since 1985. The 64-year-old Rust will remain chairman of the company's board.

The train controls that were lacking in Philadelphia will be in place when Illinois high speed rail happens... if the state will spend the money.

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