roeder
David Roeder biography
David Roeder is a business reporter for the Chicago Sun-Times covering real estate development and the financial markets. Besides his daily coverage, he writes columns …
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Clout and apathy doomed Prentice Women’s Hospital
Providing landmark protection to a building in Chicago is a weird process that draws on a mix of clout and popular opinion. Clout as it is applied to landmarks can be justified. Property owners have rights, after all. They are entitled to say if an …Read More
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Roeder: Motorola ‘contributes’ to Google’s earnings snafu
‘Google reported disappointing third-quarter results, which included the first full-quarter contribution from Motorola Mobility.” So said the first line of an analyst report from William Blair & Co., one of oodles issued after the Google (GOOG) announcement of Oct. 18 that rattled the market’s faith …Read More
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Romney’s tax-free, guilt-free dividend plan
DAVID ROEDER: During the presidential debate last week, Mitt Romney made a point that hadn’t been clearly laid out in the campaign amid the overheated rhetoric about spending. The Republican wants to increase the ranks of the famous 47 percent who don’t pay federal taxes. Romney stated his view that taxes should not be owed on capital gains, dividends or interest income for families making less than $200,000 a year. All are important sources of money for many middle-income people and retirees, and putting it beyond the taxman’s reach promises a massive new freebie.
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Icahn has eyes on Oshkosh
Billionaire investor Carl Icahn has stirred up trouble at Lisle-based Navistar International (NAV). Now he’s doing it at a potential merger partner for Navistar, giving investors a chance to bet on a future deal. Icahn said Thursday that he plans a tender offer for control …
North Side development caught in crossfire over schools
School overcrowding is one of the more contentious issues in Lincoln Park these days, and it has ensnared the developer who wants to build on the old Children’s Memorial Hospital site.
How fast trading adds up
It’s been called the “revenge of the nerds.” It’s high-frequency trading, the super-fast orders of stocks, options or futures that are designed according to an algorithm and executed without human intervention. Programming replaces investment prudence. High-frequency trading has been hailed as an innovation, a development …
Less housing, more retail in Rosenwald remix
DAVID ROEDER: Sometimes, life is all about adjustments. In Chicago’s Bronzeville area, Ald. Pat Dowell (3rd) and developers have agreed on adjusted terms for the redevelopment — really a rebirth — of the landmark Rosenwald Apartments building at 4600 S. Michigan. If they can pull it off, it will have enormous impact. But the Rosenwald is huge, neglected and defies easy answers. The project also appears to have a thin margin for financial error.
Analysts: Aon is A-OK
If analysts at William Blair & Co. are correct, Aon (AON) is a stock that will bloom starting later this year. And they aren’t alone in thinking positively about the insurance brokerage and human resources consultant.
Work halted on grocery store in West Side food desert after threats
DAVID ROEDER: Construction’s been halted on a West Side project that’s to put a grocery store in a food desert. Why? Because a large group of protesters showed up demanding jobs and threatening work crews, according to the grocer’s lawyer.
Fast trading: a disaster waiting to happen
For most investors, high-frequency trading is a term they rarely encounter, except for when it pops up in the news during a market meltdown. People remember the “flash crash” of May 2010, this year’s glitches involving high-profile initial public offerings such as Facebook (FB) and …
‘Mid box’ retailers having hard time finding spots in Chicago
DAVID ROEDER: “Big box” is a common term in the retail industry, used for years. But have you heard of “mid box” retailers? You and I might think of it as plus-sized stores going on a diet. Retailers that used to be defined by aisles that stretched to the horizon are learning the secrets of downsizing. They have found that smaller stores can be an efficient way to get closer to more people. But a report by Mid-America Real Estate Corp. concludes that Chicago needs more places to put them.
Cubs owner Ricketts a conduit for social investing
DAVID ROEDER: What if you wanted your investment to go right to work, building affordable housing, starting a business in a poor part of town or providing a micro-loan to an enterprising African? And what if you wanted to get your money back, with a small return for good measure?
150 apartment units may hit Ravenswood near Metra
City planners are close to approval of an apartment complex with parking on an open site in Ravenswood that has enticed developers for years. The property covers nearly 3 acres at 1801 W. Argyle, a tract that sits next to a Metra commuter stop. Developer …
2 Rush St. clubs — Jilly’s, Back Room — face last call
Two longtime music venues on Rush Street, Jilly’s and the Back Room, would close under a development proposal that requires review from the city. Both nightclubs are in a three-story building at 1007 N. Rush. The building’s owner, Realtor and investor Grace Sergio, has proposed razing the building, which also has four apartments, and replacing it with a two-story structure with a single retail or commercial tenant.
Are oil prices cruising for a bruising?
As you gas up the car this holiday weekend, paying prices many view as extortionate, take comfort in the outlook of some that oil prices can’t go on at their high levels. A commodities analyst at Elliot Wave International, Jeff Kennedy, has taken to the …
Office developer on track to build over tracks at Lake/Canal
Almost from the day it was announced last May, the planned office building in the West Loop was greeted with skepticism. Hines Interests LP said it would build the riverfront tower at Lake and Canal “on spec,” or without committed tenants, a risky proposition that hasn’t been tried here since 1998. Work will start by yearend, a Hines exec says.
Shakespearean themes in Peregrine’s demise
It’s possible that Russell Wasendorf Sr. finally came clean and told the absolute truth in early July, as he realized that regulators were getting wise to what he would describe as his own financial fraud. Wasendorf was the chairman of futures brokerage Peregrine Financial Group …
Developer faces higher bar at old Children’s Memorial site
DAVE ROEDER: After more than 50 community meetings that featured generous helpings of criticism and praise, developer Daniel McCaffery finds himself with more to do before he can redevelop the old Children’s Memorial Hospital site in Lincoln Park.
Strategist zeroes in on economy’s bottom line
One of the biggest irritants about following the stock market is the endless daily flow of economic data, numbers that point up, down and sideways. They are followed most closely during times of uncertainty, which is pretty much always. The data releases come from many …
‘Big style in smart places’
DAVID ROEDER: Jay Michael and his business partners are intent on building apartments and a brand. They insist they can do it in a way that helps neighborhoods turn around. Uptown and Edgewater on the North Side are about to put them to the test.
