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Chicago Network Members in the News
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KNAUF TO ACQUIRE USG IN $7 BILLION DEAL
Knauf and USG Corporation (
Jennifer Scanlon) announced that they have entered into a definitive agreement pursuant to which Knauf will acquire all of the outstanding shares of USG in a transaction valued at approximately $7.0 billion. The transaction was unanimously approved by USG's Board of Directors. Berkshire Hathaway has agreed to vote its shares in favor of the transaction.
"Our Board has worked diligently to evaluate all strategic options to maximize value for our shareholders, and we are pleased to have reached this agreement which provides our shareholders with significant and certain cash value. We believe this transaction will create new opportunities for both companies' customers and will benefit USG's employees who will be part of a truly global building products company," said Jennifer Scanlon, President and CEO, USG. Read more...
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DELOITTE
CONSULTING TO OPEN NEW FACILITY IN ARIZONA
Janet Foutty
, Chairman and CEO, Deloitte Consulting LLP, was quoted in an article about
Deloitte's recent plans to set up a 102,000 square foot U.S. Delivery Center in Gilbert, Arizona. The aim of the new facility is to help develop and apply emerging technology solutions for a variety of public and private sector clients. The company added that it expects the center to generate 2,500 jobs in the region.
"Businesses today need to anticipate and respond more quickly to the rapid pace of change in today's market due in large part to tech disruption. Our newest Delivery Center located in the Phoenix metro area demonstrates our commitment to providing our clients with the capabilities to navigate and leverage emerging technology to drive business results," said Janet Foutty.
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MEDICAL DISTRICT SELLS PARCELS, EASING DEBT LOAD
The Illinois Medical District,
whose debt service consumed more than half of revenue,
has redeemed $40 million in bonds, freeing up funds to accelerate long-planned redevelopment of the West Side complex.
Suzet McKinney
, CEO, Illinois Medical District, said crafting a viable early redemption plan had stymied predecessors and was her first marching order in 2016 after she left the Chicago Department of Public Health as a deputy commissioner.
Read more...
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NAVY PIER OFFERS FREE RIDES FOR ANNIVERSARY OF FIRST FERRIS WHEEL
Visitors to Navy Pier on June 21 will be able to ride the Centennial Wheel for free. Navy Pier's Ferris wheel opened July 1, 1995. In 2016, that wheel was replaced with the Centennial Wheel to celebrate the 100th anniversary of Navy Pier.
"The Ferris wheel holds a special place in the hearts of Chicagoans and serves as a beloved icon for our city. Navy Pier is proud to continue honoring the legacy and longstanding history of this treasured attraction in its birthplace, especially as it approaches a major milestone," said Marilynn Gardner, President and CEO, Navy Pier. Read more...
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HEARTLAND ALLIANCE AND THE UNIVERSITY OF CHICAGO CRIME LAB JOIN IN EFFORT TO BRING THERAPY AND JOBS TO AT-RISK INDIVIDUALS
One of Chicago's largest social service agencies is spearheading a multimillion-dollar effort aimed at offering a part-time job and additional support to men who are driving the city's epidemic of gun violence.
The program, run by Heartland Alliance
(
Evelyn Diaz
)
, has set out to find those most at risk for violence - perpetrators and victims alike - with the help of data analysts at the University of Chicago Crime Lab
(
Roseanna Ander
)
and Poverty Lab who crunch Chicago police data.
Read more...
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CHICAGO NETWORK MEMBERS ON LEADERSHIP
Phyllis Lockett, CEO, LEAP Innovations,
Janet Foutty
, Chairman & CEO, Deloitte Consulting, and
Julia Stasch
, President, John D. and Catherine T. MacArthur Foundation, are featured in the May/June issue of
Chicago Woman Magazine, which highlights their leadership and career
experiences.
Read more on page 50.
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LINDA JOJO ON NEW UNITED AIRLINES APP
Linda Jojo
, EVP, Technology & Chief Digital Officer, United Airlines, spoke
at the inaugural Skift Tech Forum in Santa Clara, California
about the new app that United plans to release and the changes in mobile features
"We're actually trying to arm our employees with information about who is seated in 7C so that our flight attendants can have a better way of interacting with them. But the reality is that the line between personalized and creepy is different for different people. Do you like it when we come up and wish you a happy birthday? We're trying to figure out where does that line fall," said Linda Jojo. Read more...
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 CHICAGO ARCHITECTURE FOUNDATION REVEALS SNEAK PEEK OF NEW EXHIBIT SPACE
The Chicago Architecture Foundation recently announced that its new Chicago Architecture Center, located at 111 East Wacker Drive will open on August 31, featuring nearly 10,000 square feet of exhibit space including an interactive city model.
"We've engineered a stimulating and immersive space where visitors can have fun discovering Chicago's groundbreaking architecture," said
Lynn Osmond, President and CEO, Chicago Architecture Foundation.
Read more...
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 MARILYNN PRESTON:
ALL ABOUT THE SUMMER SOLISTICE
Marilynn Preston wrote a column about the summer solstice and how to honor your power. For the Northern hemisphere of the world, the summer solstice will happen on June 21. Marilynn writes that this is the perfect time of year to change your direction and grow your gratitude. Read more...
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JOYCE ST. CLAIR NAMED CHIEF HUMAN RESOURCE OFFICER FOR THE NORTHERN TRUST
Joyce St. Clair,
EVP & Chief Capital Management Officer, Northern Trust, has been named as the Chief Human Resources Officer for the Northern Trust, effective July 1. With her experience and ability to deliver results, Joyce will help execute on the current strategies and add to talent management efforts.
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 CATHY KENWORTHY TO JOIN THE OUNCE OF PREVENTION AS CHIEF OPERATING OFFICER
Cathy Kenworthy will join the Ounce of Prevention as its new Chief Operating Officer on July 2. As COO, Cathy will lead growth and transformation for the Ounce, aligning organizational design, structure and process to support its great work and people. She will help build, implement and manage internal capabilities, performance metrics, talent and shared services. "Throughout her career, Cathy has strived for the best and taken companies further than what seemed possible by removing barriers to success-a mindset that will benefit our organization as we pursue our ambitious strategic plan," said Diana Rauner. |
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DSC ANNOUNCES INTENT TO JOIN WITH CJ LOGISTICS
Ann Drake, Chairman & CEO, DSC Logistics, is pleased to announce an exciting new chapter in DSC's story of 58 years of growth and change. Pending regulatory and other customary approvals, the majority ownership of DSC will be transferred to CJ Logistics, a leader in global supply chain management (SCM) innovation. The company expects the transaction to close in the third quarter of 2018.
Ann will remain as Chair of the DSC Advisory Board and retain minority ownership, with plans to retire at the end of 2019.
Read more...
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 A MESSAGE FROM CHICAGO NETWORK CHAIR SUSAN GALLAGHER
I am proud to serve on this year's host committee for the Hugh O'Brien Youth Leadership (HOBY) World Leadership Congress, July 21-28, at Loyola University in Chicago, the first time the event has been held in the Windy City. HOBY recognizes industry leaders who epitomize the core values of volunteerism, integrity, excellence, diversity, and collaborative partnerships in their daily lives. Nominations for the Leadership Awards are being accepted until July 2, and winners will be recognized at the Global Leadership Awards event on Wednesday, July 25, 4-6 p.m., at Cushman & Wakefield in Chicago. Many Chicago Network members exemplify these values and I invite you honor each other's accomplishments by submitting
nominations here
. This event also supports fundraising efforts that sustain HOBY programs, which provide young people with leadership development opportunities throughout the world. It's a great cause and a great honor to be recognized!
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ZURICH INSURANCE GROUP REPORTS NEED TO FLIP DISASTER SPENDING
A report
on natural disasters,
conducted by Zurich (Kathleen Savio), concluded that communities are spending money on disasters at the wrong time -- after the damage has been done, not before. The report draws conclusions about natural disaster mitigation by analyzing a series of 12 events - floods, storms and hurricanes-since the summer of 2013.
"Coming off 2017 with three major hurricanes - Harvey, Irma and Maria - and what we just saw last week with subtropical storm Alberto, our findings are grounded in the perspective that while hazards are natural, disasters are not," said Kathleen Savio, CEO, Zurich North America.
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INSIGHTS ON INVESTMENT PORFOLIOS FROM JANICE EBERLY
Research from
Janice Eberly, Professor, Kellogg School of Management, has been highlighted in an article about investment portfolios. The article links to Janice's research suggesting that investors who closely monitor their portfolios may be shooting themselves in the foot. That's because the more you monitor your portfolio, the more likely you are to make changes to it and there are costs associated with those changes.
"I think of it as the optimality of procrastination. Sometimes nothing is actually the optimal thing to do," writes Janice Eberly.
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