Sears CEO D'Ambrosio to step down

Sears Holdings Corp. said Monday night that Chief Executive Officer Louis D'Ambrosio will step down Feb. 2, due to family health matters, and Chairman Edward Lampert will add the role of CEO.

The surprise move fuels uncertainty at the Hoffman Estates-based company, which has struggled for years to re-establish itself as a department store in an ultracompetitive retailing industry dominated by low-price giant Wal-Mart and big box and specialty stores.

The decision by Lampert, a hedge fund operator who is the company's biggest shareholder, to take over day-to-day control represents a reversal from his naming of D'Ambrosio as chief executive nearly two years ago after operating with an interim CEO.

"In light of Lou's decision to step down, the board feels it is important that there is continuity of leadership during this important period of transformation and improvement at Sears Holdings," Lampert said in a statement. "I have agreed to assume these additional responsibilities in order to continue the company's recovery and sustain the momentum we are experiencing, as well as further the development of the management team under the distributed leadership model, which provides our business unit leaders with greater control, authority and autonomy."

Sears Holdings, which operates Sears and Kmart, also updated its fourth-quarter earnings outlook Monday night. The company said it expects to report a net loss $280 million to $360 million, or $2.64 to $3.40 per diluted share, for the quarter ending Feb. 2. The loss includes a charge of about $450 million because of pension settlements and an additional $42 million in pension expenses.

Excluding pension expenses, Sears said it expects to earn $132 million to $212 million, or $1.25 to $2 per share.

Analysts polled by Bloomberg had been expecting adjusted net income of about $137 million.

For the fiscal year, Sears said it expects to lose $721 million to $801 million, or $6.80 to $7.56 per diluted share, which includes pension-related costs and other adjustments reported late last year. Excluding those items, the company said it expects to lose $123 million to $203 million, or $1.16 to $1.92 per share.

D'Ambrosio became CEO after working for the company as a consultant. The 16-year veteran of IBM Corp. had been CEO of a telecommunications company before joining Sears.

"I have worked very closely with Eddie over the past two years. I can say this: there is simply no one in the world that cares more about Sears Holdings and has thought more deeply about our company than Eddie," D'Ambrosio wrote to employees.

Lampert gained control of Sears in 2005 after engineering the merger between Kmart and Sears Roebuck & Co. For years, speculation about Lampert's intentions for the company focused on the value of its real estate, but under D'Ambrosio, Sears appeared to pay more attention to retail aspirations.

The company reported improved performance — it beat Wall Street expectations — in the previous quarter, but Sears stock has lost more than 35 percent of its value since November, closing Monday at $42.92, up 1.7 percent.

 Crshropshire@tribune.com

Twitter: @corilyns 

Read More..

Police: Good Samaritans foil North Side robbery

Jose Rodriguez, 30. (Chicago Police Department / January 6, 2013)

By Adam Sege




Tribune reporter

10:40 p.m. CST, January 6, 2013

A screwdriver-wielding parolee was tackled by two good Samaritans after he stole a woman's purse in the Lincoln Park neighborhood Saturday night, police said.

About 11:45 p.m., Jose Rodriguez, 30, approached a woman from behind in the 800 block of West Diversey Parkway, the Chicago Police Department said in a news release. 

Rodriguez held an arm around the 29-year-old woman's neck, placed a screwdriver against her torso, and demanded money, police said.

Rodgriguez ran off with the woman's purse shortly after, police said.

A 20-year-old witness took off in pursuit, and when Rodriguez approached a 24-year-old man walking in the opposite direction, the 20-year-old yelled for him to stop the robber, police said.

Together, the men tackled Rodriguez and restrained him until police showed up, police said.

Rodriguez was arrested and charged with armed robbery with a dangerous weapon and a parole violation.

asege@tribune.com

Twitter: @AdamSege

Read More..

“Ubuntu for Phones” Turns Smartphones into Desktop PCs

Millions of people have tried out Ubuntu, a free operating system for desktop and notebook PCs. Like Android, Ubuntu is open-source and based on Linux, and while it’s mostly seen as an OS for hobbyists here in the U.S., hardware manufacturers like Dell and HP make Ubuntu PCs for markets like mainland China.

Now Canonical, the startup which drives Ubuntu’s partly community-based development, has announced a version of Ubuntu that’s made for smartphones. The company previously showed off an experimental version of desktop Ubuntu that hobbyists could install on their Nexus 7 tablets. But the version Canonical demoed Wednesday was tailor-made for smartphones.

What makes Ubuntu different?

The smartphone version of Ubuntu bears little resemblance to the desktop version, aside from its graphical style. Its interface is based around gestures and swipes; instead of a back button, for instance, you swipe from the right-hand edge of the screen to return to a previous app. Swiping up from the bottom, meanwhile, reveals an app’s menu, which remains off-screen until then.

Tech expect John Gruber was critical of the Ubuntu phone interface, noting that “gestures are the touchscreen equivalent of keyboard shortcuts” because they need to be explained to someone before they can use them. The Ubuntu phone site itself calls the experience “immersive,” because it allows more room for the apps themselves.

What will Ubuntu fans recognize?

First, the apps. The same Ubuntu apps which are currently available in the Software Center (Ubuntu’s equivalent of the App Store) will run on an Ubuntu phone, provided the developers write new screens designed for phones — much less work than writing a new app from scratch. Ubuntu web apps, already integrated into its version of Firefox, will also work in the phone version.

Second, the dash and the app launcher. Ubuntu’s universal search feature is easily accessible, and swiping in partway from the left edge of the screen reveals the familiar row of app icons.

What unique features does it have over other smartphone OSes?

Besides the gesture-based design, higher-end Ubuntu smartphones will be able to plug into an HDTV or monitor, and become a complete Ubuntu desktop PC. Just add a keyboard and mouse. This feature was originally announced for Android smartphones (using advertising which insults grandmothers), and Android phones featuring Ubuntu are expected before full Ubuntu phones launch.

When will it be available?

Ubuntu phones (not just Android phones with Ubuntu included) are expected to be on shelves starting in 2014. In a few weeks, however, Canonical will have a version available that you can put on your own Galaxy Nexus smartphone to try it out.

Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Linux/Open Source News Headlines – Yahoo! News

Title Post: “Ubuntu for Phones” Turns Smartphones into Desktop PCs
Url Post: http://www.news.fluser.com/ubuntu-for-phones-turns-smartphones-into-desktop-pcs/
Link To Post : “Ubuntu for Phones” Turns Smartphones into Desktop PCs
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

James Earl Jones to star in “Driving Miss Daisy”

SYDNEY (AP) — They’re starring in a play about a woman reluctant to age and the perils of passing time, but veteran actors James Earl Jones and Angela Lansbury say that life in their 80s continues to be exciting thanks to their determination to keep doing what they love.

Jones and Lansbury, in Australia to star in a touring production of Alfred Uhry‘s Pulitzer-Prize winning play “Driving Miss Daisy,” say the thrill of performing has propelled them throughout their decades-long careers and gives them the energy necessary to keep up with their often grueling schedules.

“First of all, wake up. Wake up and try to get your bones moving,” a grinning Jones, who turns 82 this month, said Monday ahead of the cast’s first rehearsal. “And then be enthusiastic about what you do. I’m very enthusiastic about acting still. I love the process of creating a character.”

For 87-year-old Lansbury, whose seven-decade career has spanned stage, film and television, performing live gives her a rush that can’t be matched on the screen.

“You get on stage and you really can let it out,” she said, throwing her arms wide. “You’re not hampered by camera angles or lighting.”

Lansbury, nominated for three Oscars and beloved for her role as amateur detective Jessica Fletcher on the long-running TV series “Murder, She Wrote,” said it was the stage that gave her a jolt of fresh inspiration later in life.

“Coming back to the theater about seven years ago turned the tide for me, it really did. Because it gave me a career after 70,” she said. “I could still work in the theater and play great roles, but it wasn’t so easy to continue as a motion picture actress. Which I was very glad of — I didn’t like the way we were making movies … the kind of roles I would like to play didn’t seem to exist. But I love the theater and, as it turned out, it was the thing to do.”

Both actors jumped at the chance to perform in “Driving Miss Daisy,” which began as an off-Broadway play and inspired the Oscar-winning film starring Jessica Tandy and Morgan Freeman. The play follows the evolving friendship of Daisy and her chauffeur Hoke in the American South over 25 years.

“When I saw Morgan do it, I said ‘I’d like to play that role,’” Jones said. “I thought I understood (Hoke) and I want to understand him more.”

Jones was also attracted to the role because of Hoke’s illiteracy. Jones, famous for his distinctive baritone voice, suffered from a debilitating stutter as a child that left him virtually mute until he was 14. An English teacher mentored him until he discovered his voice, which then led to his acting career. Now, he finds particular fulfillment when playing characters who struggle with language.

“Hoke Colburn is such a character. He’s illiterate, but he speaks English … and uses it very effectively and very poetically,” Jones said. “That’s what I love about the role, trying to understand how he re-weaves language so he gets himself across.”

Lansbury said it was the play’s setting in the American South that helped attract her to the role of Daisy.

“I understand the southern mentality,” she said. “I went to drama school with a number of young women who came from (the South) and I never forgot them and I never forgot the way they spoke. Their accents were so interesting to me.”

The role is a big change from her 12-year run as Jessica Fletcher on “Murder, She Wrote,” and the change is welcome. While Lansbury has a soft spot for the mystery writer, she admits she doesn’t miss her much.

“I was happy to retire her. I’m constantly reminded of her by people who are still very fond of watching the show. … I can’t get away from it!” she said with a laugh. “I’m more famous for Jessica Fletcher than anything.”

Entertainment News Headlines – Yahoo! News

Title Post: James Earl Jones to star in “Driving Miss Daisy”
Url Post: http://www.news.fluser.com/james-earl-jones-to-star-in-driving-miss-daisy/
Link To Post : James Earl Jones to star in “Driving Miss Daisy”
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Tehran Is Choked by Annual Buildup of Air Pollution

TEHRAN — Already battered by international threats against their nation’s nuclear program, sanctions and a broken economy, Iranians living here in the capital are now trying to cope with what has become an annual pollution peril: a yellowish haze that engulfs Tehran this time of year.

For nearly a week, officials here and in other large cities have been calling on residents to remain indoors or avoid downtown areas, saying that with air pollution at such high levels, venturing outside could be tantamount to “suicide,” state radio reported Saturday.

On Sunday, government offices, schools, universities and banks reopened after the government had ordered them to shut down for five days to help ease the chronic pollution. Tehran’s normally bustling streets were largely deserted.

Residents who dare to go outside cover their mouths and noses with scarves or surgical masks, but their eyes tear up and their throats sting from the mist of pollutants, which a report by the municipality of Tehran says is made up of a mixture of particles containing lead, sulfur dioxins and benzene.

“It feels as if even God has turned against us,” Azadeh, a 32-year-old artist, said on a recent day as she looked out a window in her apartment that often offers a clear view of Tehran, a sprawling city that is home to millions. But on this day, Azadeh, who did not want her full name used, saw only the blurred outlines of high-rise buildings and the Milad communications tower in the distance. The setting sun was reduced to a yellowish coin by the thick blanket of smog.

The haze of pollution occurs every year when cold air and windless days trap fumes belched out by millions of cars and hundreds of old factories between the peaks of the majestic Alborz mountain range, which embraces Tehran like a crescent moon.

Iran is prominently represented in the World Health Organization’s 2011 report on air quality and health, with three of its provincial towns among the organization’s list of the world’s 10 most-polluted cities. According to the report, Tehran has roughly four times as many polluting particles per cubic meter as Los Angeles. Many cities known for their poor air quality, like Mexico City, Shanghai and Bangkok, are cleaner than Tehran.

But since 2010, when American sanctions on Iranian imports of refined gasoline began to bite, the situation has grown worse, according to the report by the municipality of Tehran.

Faced with possible fuel shortages, Iran surprised outsiders by quickly making up for the loss of imports by producing its own brew of gasoline. While the emergency fuel kept vehicles running, local experts warned that it was creating much more pollution.

A recently released report by Tehran’s department of air quality control contained blank spaces where there should have been information about levels of benzene and lead — components of gasoline — in the capital’s air. But the report did state that while Tehran experienced more than 300 “healthy days” in 2009, in 2011 there were fewer than 150.

Iran’s Health Ministry has reported a rise in respiratory and heart diseases, as well as an increase in a variety of cancers that it says are related to pollution.

The state newspaper Resalat on Saturday called the pollution a continuing crisis, and it urged the authorities to act. “Why is it that when the winds pick up, this problem is again quickly forgotten?” an editorial asked. Another newspaper, Donya-e-Eqtesad, which is critical of the government, pressed for an improvement in gasoline standards.

The pollution caused by the use of the emergency fuel concoction has been a taboo subject here, as officials try to portray each measure to counter the economic sanctions as a success that should not to be criticized by the local news media.

On state television, several officials have denied that the yellow haze has anything to do with the locally produced gasoline.

In an interview on Saturday, Ali Mohammad Sha’eri, the deputy director of Iran’s Environmental Protection Organization, strongly denied that the pollution was linked to gasoline. However, he said that only 20 percent of the emergency fuel was up to modern standards. “Hopefully in three months that level will be 50 percent,” he said.

Meanwhile, the government has imposed strict traffic regulations in Tehran, Isfahan and other major population centers. An odd-even traffic-control plan based on the last digit of vehicle license plates keeps about half of the approximately three and a half million cars in Tehran off the streets on a daily basis.

Other plans to combat the pollution have been less realistic, analysts say. President Mahmoud Ahmadinejad has long advocated a plan to move civil servants from Tehran to reduce overpopulation in the capital. In 2010, the governor of Tehran Province ordered crop-dusters to dump water on the smog in an effort to dissipate it. There have also been plans for placing air purifiers in the city, but experts say they will not work in open spaces.

For those living in Tehran and unable to leave town for a vacation home on the Caspian Sea, waiting for the winds to pick up seems to be the only option.

“My head hurts, and I’m constantly dead tired,” said Niloufar Mohammadi, a university student. “I try not to go out, but I can smell the pollution in my room as I am trying to study.”

Azadeh, the artist, said the pollution forced her to stay indoors, adding to her sense of isolation. Step by step her world was being curtailed, she said. The Western sanctions imposed on Iran make her feel like a pariah, she explained. The government’s mismanagement of the economy and the resulting inflation have left her with little purchasing power, she said; she has stopped shopping for everything but essential items. And last week, security officers removed her illegal satellite dish from her roof.

“The pollution is the last straw for me,” she said. “We should wait helpless for winds to pick up and clean the air before we can safely leave our houses. It shows we have lost all power to control our lives.”

Read More..

Blackhawks fans, shops cheer end to NHL lockout

As soon as he heard the Chicago Blackhawks may soon be lacing up to play, Jim Boffa took his family out for a celebratory lunch near the United Center to toast the end of a 113-day NHL lockout.

"I didn't think it was going to happen," the 52-year-old Northbrook man said as he stood beside his wife and three children inside the Palace Grill restaurant on Madison Street.

On Sunday, business owners expressed relief while Blackhawks fans rejoiced after hearing that the NHL and players association reached a tentative deal on a new collective bargaining agreement.

The lockout has knocked the wind out of many establishments in the vicinity of the United Center. Palace Grill lost at least $75,000 over the past few months, owner George Lemperis said. Despite the damage, businesses are grateful that a partial hockey season will be salvaged.

"Any time there's an extra 20,000 people down the street, that's good for everyone," said Matt Doherty, general manager at WestEnd Bar.

At Clark Street Sports, a store that sells Blackhawks and Bulls memorabilia, the lockout's end means more sales and more work for employees, cashier Jose Salazar said.

On nongame days, one or two people might work at the small shop, but as many as five employees are around when professional sports teams play at the arena, he said.

"I'm not a big hockey fan, (but) I'm just excited to get a lot more hours," Salazar said.

Inside Johnny's IceHouse, a hockey rink west of the United Center, some children and adults sported Blackhawks hats, jerseys and T-shirts as they watched 10- and 11-year-old boys play hockey.

Many parents expressed enthusiasm about the end of the work stoppage, but some also said they felt their children lost out over the past few months.

"All these kids look up to the NHL players so much," said Brent Bainter, 39, as he watched his 10-year-old son's hockey team on the ice. "When you don't get a chance to see them play for half a year, it's kind of a bummer."

After the match ended, Alex Lazzerini, 11, who has played hockey since he was 2, said he was nervous the Blackhawks might not play this season.

"Now, I'm hoping to watch them win the Stanley Cup again," he said with a smile.

jmdelgado@tribune.com

Read More..

At least 10 people shot Saturday, 2 fatally

An afternoon shooting in the Englewood neighborhood has left a man dead on a day in which at least 10 people have been shot since 12 a.m., according to authorities.

At 3:10 p.m. someone shot a male victim multiple times in the abdomen in the 5500 block of South Loomis Boulevard, News Affairs Officer Daniel O’Brien said.

The victim, a man in his 20s, was taken from the scene of the shooting in the Englewood neighborhood to John H. Stroger Jr. Hospital of Cook County, where he was pronounced dead at 3:52 p.m., according to the Cook County medical examiner's office.

Police were questioning a possible shooter, News Affairs Officer Amina Greer said.

Saturday night about 8:30 p.m., a 39-year-old man was shot in the West Town neighborhood, police said.

The man was taken from the 1800 block of West Maypole Avenue to Stroger with a gunshot wound to the buttocks.

About 7:10 p.m., two men were injured in a shooting in the 5100 block of West Oakdale Avenue, O'Brien said.

A 25-year-old man was taken in critical condition to Advocate Illinois Masonic Medical Center with a gunshot wound to the back, O'Brien said. A 21-year-old man was taken to the same hospital in good condition with a gunshot wound to the wrist, O'Brien said.

The shooting happened in the Cragin neighborhood on the Northwest Side.

Late Saturday morning, a shooting in the Back of the Yards neighborhood left another victim shot in the abdomen and seriously wounded.

Someone shot the male in the abdomen at 11:48 a.m. in the 4500 block of South Marshfield Avenue, according to Chicago Police Department News Affairs Officer Michael Sullivan.

He was taken to John H. Stroger, Jr. Hospital of Cook County in serious condition, Sullivan said.

The circumstances surrounding the shooting were not known immediately but Sullivan said no one was arrested.

Earlier Saturday, four people were shot in two separate incidents before the sun rose, and a fifth man was killed in a West Side shooting.

chicagobreaking@tribune.com

Twitter: @ChicagoBreaking

Read More..

‘Killing Lincoln’ Producer: John Wilkes Booth Could Be ‘Poster Child for the Tea Party’

NEW YORK (TheWrap.com) – Erik Jendresen, writer and executive producer of the upcoming Nat Geo film “Killing Lincoln,” says presidential assassin John Wilkes Booth could have been a modern-day “poster child for the Tea Party.”

Jendresen spoke about the film, which stars Billy Campbell as Lincoln, at the Television Critics Association winter press tour. The film is based on the book co-written by “O’Reilly Factor” host Bill O’Reilly, a noted supporter of many Tea Party ideals.

Jendresen stressed that Booth wasn’t a madman, but held views that were fairly common at the time of the assassination.

“This is not the act of somebody who can be easily dismissed as a psychopath so that it’s easy to understand: ‘Oh, well, he was crazy.’ No. It’s more disturbing to find out who Booth was,” Jendresen said. “This is a man who believed what still probably 20 percent of this country still believes. He could be a poster child for the Tea Party.”

Asked if he thought Bill O’Reilly would agree with that assessment, he passed.

“I can’t speak for Mr. O’Reilly,” he told TheWrap. “I think that if you look at the sort of politics of the time, and a lot of the epithets that were being hurled at Lincoln, there was a feeling in the nation that’s not dissimilar from what we’ve experienced in the past four years in response to Barack Obama – the sense of an imperial presidency or soundbytes about somebody who’s going to proclaim himself king and take over.”

“It’s stunning to me to read some of the newspaper articles and some of the interviews of the time, some of the contents of the letters and memoirs from the time and some of the things that were thought about Lincoln in the South are so similar to … the dialogue today,” he added.

Nat Geo was previously criticized by conservatives who felt that its film “Seal Team Six,” about the killing of Osama bin Laden, amounted to a campaign ad for President Obama.

Contacted through Fox News, O’Reilly did not immediately respond to a request for comment.

Movies News Headlines – Yahoo! News

Read More..

Despite New Health Law, Some See Sharp Rise in Premiums

Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration’s health care law was to stem the rapid rise in insurance costs for consumers.

Bob Chamberlin/Los Angeles Times

Dave Jones, the California insurance commissioner, said some insurance companies could raise rates as much as they did before the law was enacted.

Particularly vulnerable to the high rates are small businesses and people who do not have employer-provided insurance and must buy it on their own.

In California, Aetna is proposing rate increases of as much as 22 percent, Anthem Blue Cross 26 percent and Blue Shield of California 20 percent for some of those policy holders, according to the insurers’ filings with the state for 2013. These rate requests are all the more striking after a 39 percent rise sought by Anthem Blue Cross in 2010 helped give impetus to the law, known as the Affordable Care Act, which was passed the same year and will not be fully in effect until 2014.

 In other states, like Florida and Ohio, insurers have been able to raise rates by at least 20 percent for some policy holders. The rate increases can amount to several hundred dollars a month.

The proposed increases compare with about 4 percent for families with employer-based policies.

Under the health care law, regulators are now required to review any request for a rate increase of 10 percent or more; the requests are posted on a federal Web site, healthcare.gov, along with regulators’ evaluations.

The review process not only reveals the sharp disparity in the rates themselves, it also demonstrates the striking difference between places like New York, one of the 37 states where legislatures have given regulators some authority to deny or roll back rates deemed excessive, and California, which is among the states that do not have that ability.

New York, for example, recently used its sweeping powers to hold rate increases for 2013 in the individual and small group markets to under 10 percent. California can review rate requests for technical errors but cannot deny rate increases.

The double-digit requests in some states are being made despite evidence that overall health care costs appear to have slowed in recent years, increasing in the single digits annually as many people put off treatment because of the weak economy. PricewaterhouseCoopers estimates that costs may increase just 7.5 percent next year, well below the rate increases being sought by some insurers. But the companies counter that medical costs for some policy holders are rising much faster than the average, suggesting they are in a sicker population. Federal regulators contend that premiums would be higher still without the law, which also sets limits on profits and administrative costs and provides for rebates if insurers exceed those limits.

Critics, like Dave Jones, the California insurance commissioner and one of two health plan regulators in that state, said that without a federal provision giving all regulators the ability to deny excessive rate increases, some insurance companies can raise rates as much as they did before the law was enacted.

“This is business as usual,” Mr. Jones said. “It’s a huge loophole in the Affordable Care Act,” he said.

While Mr. Jones has not yet weighed in on the insurers’ most recent requests, he is pushing for a state law that will give him that authority. Without legislative action, the state can only question the basis for the high rates, sometimes resulting in the insurer withdrawing or modifying the proposed rate increase.

The California insurers say they have no choice but to raise premiums if their underlying medical costs have increased. “We need these rates to even come reasonably close to covering the expenses of this population,” said Tom Epstein, a spokesman for Blue Shield of California. The insurer is requesting a range of increases, which average about 12 percent for 2013.

Although rates paid by employers are more closely tracked than rates for individuals and small businesses, policy experts say the law has probably kept at least some rates lower than they otherwise would have been.

“There’s no question that review of rates makes a difference, that it results in lower rates paid by consumers and small businesses,” said Larry Levitt, an executive at the Kaiser Family Foundation, which estimated in an October report that rate review was responsible for lowering premiums for one out of every five filings.

Federal officials say the law has resulted in significant savings. “The health care law includes new tools to hold insurers accountable for premium hikes and give rebates to consumers,” said Brian Cook, a spokesman for Medicare, which is helping to oversee the insurance reforms.

“Insurers have already paid $1.1 billion in rebates, and rate review programs have helped save consumers an additional $1 billion in lower premiums,” he said. If insurers collect premiums and do not spend at least 80 cents out of every dollar on care for their customers, the law requires them to refund the excess.

As a result of the review process, federal officials say, rates were reduced, on average, by nearly three percentage points, according to a report issued last September.

Read More..

Chicago restaurateurs shrug off economic worries

Chicago may have lost a few of its Michelin-starred restaurants in 2012 and waved goodbye to the inimitable Charlie Trotter's, but the higher-end restaurant scene is powering up in ways not seen since prerecession days, according to industry players and observers.

Local operators with a hit or two are embarking on ambitious ventures, though keeping an eye on startup costs and menu prices. A handful of chefs with established followings, among them Curtis Duffy and Iliana Regan, are sticking out their necks with riskier fine-dining ventures. And some prominent out-of-towners are investing on a grand scale, with a Del Frisco's Double Eagle Steakhouse just opened in the former Esquire Theater on Oak Street, and an Italian food and wine marketplace, Eataly, planned for the former ESPN Zone site in River North.

The flurry of activity is seen by some as a signal the economy has stabilized, at least for now.

"People are out spending money again, and corporations are hosting expensive dinners again, and there was a period when that was not happening," said Neil Stern, senior partner at McMillanDoolittle, a retail consultancy. "It affects the high end significantly."

Still, the bubbling of enthusiasm for the upper end of the market is something of an anomaly. The rebound in Chicago restaurant startups across all price ranges is tenuous. The city issued 1,458 new retail food licenses in 2012, only 11 more than in 2010 and below the 1,589 issued in 2007, the year leading into the recession.

Just as there are new arrivals, there were some big losses last year in this notoriously volatile business. Notable exits include Charlie Trotter's, Crofton on Wells, Il Mulino, One Sixtyblue, Pane Caldo and Ria at the Waldorf Astoria, one of several luxury hotels to step away from fine dining.

Weak economic conditions played a role for some, and the forecast for 2013 remains uncertain.

"It's a precarious market, and one economic blip really can take demand out of the market very, very quickly," Stern said.

Still, upscale-restaurant operators are moving ahead, betting on Chicagoans' seemingly endless fascination with food trends, dining out and the city's robust roster of accomplished chefs.

"When I was a child, people would go to each other's homes for a dinner party every week and would rarely go to restaurants — now it is almost the opposite," said David Flom, who with his business partner Matthew Moore hit a grand slam with Chicago Cut Steakhouse in River North, which opened in 2010. Steaks range from $34 to $114; soup, salad, sauces, vegetables and potatoes all are extra.

In December, they opened The Local at the Hilton Suites in Streeterville, a more modestly priced venue where executive chef Travis Strickland, formerly of the Inn at Blackberry Farm, is serving locally sourced comfort food. Meatloaf made with prime dry-aged beef goes for $24, rotisserie chicken pot pie for $22.

"People can use The Local as an everyday restaurant," Flom said. "People can say, 'Let's just grab a burger at The Local.' It doesn't have to be $100 a person, it can be $25."

At Chicago Cut, the average check, per person, is $82, including drinks, versus $44 at The Local, he said.

Industry observer Ron Paul, president and CEO of Technomic Inc., said he is particularly intrigued by the growing strength of such emerging independents, who are nipping at the heels of Lettuce Entertain You Enterprises Inc., even as that homegrown powerhouse continues to churn out winning concepts.

As restaurant real estate broker Randee Becker, president of Restaurants!, put it: "People who are doing north of $8 million to $10 million of sales are expanding in a big way."

After establishing a high-style, large-scale foothold in River North with the opening of Epic in 2009, proprietors Steve Tavoso and Jeff Krogh last fall embarked on a second act in the neighborhood. They engaged prominent chefs — Thomas Elliott Bowman and Ben Roche, who worked together at Moto — but kept their initial investment more modest this time.

Their latest entry, the eclectic Baume & Brix, opened last fall in the former Rumba space, which had most of the necessary mechanical, electrical, plumbing and kitchen elements in place. Startup costs were about $1.5 million, compared with more than $5 million spent to open Epic. "I took raw space (for Epic) — I would never do that again," Tavoso recalled.

Mercadito Hospitality, whose Chicago offerings include high-energy Latin American tapas spots Mercadito and Tavernita, also is watching its pennies on startups, its most recent being Little Market Brasserie in the Talbott Hotel. Led by chef/partner Ryan Poli, the restaurant has quietly opened with a Parisian decor and American small plates. Its grand opening is expected Jan. 18.

"We are aware of the fact the economy is not fully recovered, so we try to keep our expenses down without sacrificing quality," said managing partner Alfredo Sandoval.

The Chicago-based group intends to keep expanding. It just signed a lease at a River North spot with a 4 a.m. liquor license, with plans to open a drinks-focused venue there in 2013.

Read More..