Tag Archives: Oak Brook

Midwest towns brace for more flooding as crests approach

Those fighting floods in several communities along the Mississippi River were mostly successful Sunday despite the onslaught of water, but an ominous forecast and the growing accumulation of snow in the upper Midwest tempered any feelings of victory.

The surging Mississippi was at or near crest at several places from the Quad Cities south to near St. Louis — some reaching 10 feet above flood stage. Problems were plentiful: Hundreds of thousands of acres of swamped farmland as planting season approaches; three people died; roads and bridges closed, including sections of major highways like U.S. 61 in Iowa and Missouri and crossings at Quincy, Ill., and Louisiana, Mo.

The U.S. Coast Guard said 114 barges broke loose near St. Louis on Saturday night, and four hit the Jefferson Barracks Bridge in St. Louis County. The bridge was closed about six hours for inspection but reopened around 8 a.m. Sunday. The runaway barges were corralled but authorities believe a few sank.

Flooding has now been blamed in three deaths — two at the same spot in Indiana and one in Missouri. In all three cases, vehicles were swept off the road in flash floods. High water could be responsible for two more, both in Illinois, where a decomposed body was found Thursday in an Oak Brook creek and a body was found Saturday in the Mississippi River at Cora. Investigations continue.

And the danger is far from over, as spots south of St. Louis aren’t expected to crest until next week, and significant flooding is possible in places like Ste. Genevieve, Mo., Cape Girardeau, Mo., and Cairo, Ill.

Adding to concern is a forecast that calls for heavy rain Monday night and Tuesday throughout much of the Midwest. National Weather Service meteorologist Julie Phillipson said an inch of rain is likely in many places, some places even more.

“That’s not what we want to see when we have this kind of flooding, that’s for sure,” Phillipson said.

Meanwhile, the northern Midwest has received heavy snow this month, and concerns are turning to what happens when it melts and makes its way into tributaries of the Missouri and Mississippi rivers. Forecasters said up to 6 inches of new snow was possible in the Black Hills area of South Dakota through Monday morning.

Hundreds of miles to the southeast, in La Grange, Mo., Lewis County emergency management director David Keith wasn’t bothered by the soggy forecast. Sandbags were holding back the murky Mississippi from La Grange City Hall, a bank and a handful of threatened homes, and the water was receding.

“What we’re worried about now is all that snow melt in North and South Dakota and Minnesota,” Keith said.

A handful of river towns are most affected by the high waters — places like Clarksville, Mo., and Grafton, Ill., that have chosen against flood walls or levees.

By Sunday, sandbagging had all but stopped in Clarksville, evidence of the confidence that the makeshift sandbag levee hurriedly erected to protect downtown would hold. Volunteers, including nearly three dozen prison inmates, worked since Wednesday, using

From: http://feeds.foxnews.com/~r/foxnews/national/~3/7VRW16WUcsw/

McDonald's Veteran Returns As Global Chief Brand Officer

By Kevin Chen, The Motley Fool

Filed under:

McDonald’s  has elected Steve Easterbrook as its new executive vice president and global chief brand officer. The 18-year McDonald’s veteran returns to the company following a stint as the CEO of Wagamama, a U.K.-based Japanese noodle restaurant chain.

Easterbrook will be responsible for global marketing, menu development, and consumer and business insights. He replaces Kevin Newell, who recently assumed the new role of chief brand and strategy officer for McDonald’s USA

A U.K. native, Easterbrook became CEO of McDonald’s U.K. in 2006. By the end of 2010, after serving as corporate vice president and chief brand officer, he was promoted to president of McDonald’s Europe, a role in which he was responsible for around 7,000 restaurants in 39 countries. He left McDonald’s the following year to become the CEO of U.K. chain PizzaExpress, and from there he took the reins at Wagamama.

“Steve has demonstrated dynamic leadership and creative thinking within the restaurant industry and throughout his previous career at McDonald’s,” said McDonald’s President and CEO Don Thompson. “I’m thrilled to welcome him back to the Golden Arches and confident that with his expertise, we will reach customers in new and innovative ways.”

Easterbrook will report to Thompson and will be based in Oak Brook, Ill.

The article McDonald’s Veteran Returns As Global Chief Brand Officer originally appeared on Fool.com.

Fool contributor Kevin Chen has no position in any stocks mentioned. The Motley Fool recommends and owns shares of McDonald’s. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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From: http://www.dailyfinance.com/2013/04/14/mcdonalds-veteran-returns-as-global-chief-brand-of/

Lieff Cabraser Reminds Great Lakes Dredge &amp; Dock Corporation Investors of Upcoming Deadline in Class

By Business Wirevia The Motley Fool

Filed under:

Lieff Cabraser Reminds Great Lakes Dredge & Dock Corporation Investors of Upcoming Deadline in Class Action Lawsuits

SAN FRANCISCO–(BUSINESS WIRE)– Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the May 20, 2013 deadline to move for appointment as lead plaintiff in the securities class litigation brought on behalf of purchasers of the securities of Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NAS: GLDD) between August 7, 2012 and March 14, 2013, inclusive (the “Class Period“).

If you purchased Great Lakes securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than May 5, 2013. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Great Lakes shareholders who wish to learn more about the actions and how to seek appointment as lead plaintiff should click here or contact Brendan P. Glackin of Lieff Cabraser toll-free at (800) 541-7358.

Located in Oak Brook, Illinois, Great Lakes is the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services.

On March 14, 2013, the Company disclosed it had recognized revenue in 2012 in a manner not consistent with its accounting policy. It further revealed “a failure of internal controls to detect or prevent misstatements in [its] financial statements,” which was “material to [its] results of operations for the quarterly and year-to-date periods ended June 30, 2012 and September 30, 2012.” The Company disclosed a “material weakness” in its disclosure controls, described as a deficiency (or series of deficiencies) in internal controls over financial reporting such that there is a reasonable possibility that a material misstatement of Great Lakes‘ annual or interim financial statements will not be prevented or detected on a timely basis. The Company further revealed that “2012 second and third quarter demolition segment revenues were overstated by $3.9 million and $4.3 million, respectively.”

On that same day, Great Lakes‘ President and Chief Operating Officer, Bruce J. Biemeck, departed the Company. Biemeck previously served in 2012 as CFO to the Company.

Following these revelations, Great Lakes‘ share price plummeted, losing approximately 20% of its value and resulting in approximately $100 million in investor losses.

…read more

Source: FULL ARTICLE at DailyFinance

Why McDonald's Looks Scrumptious Long Term

By Brian D. Pacampara, The Motley Fool

Filed under:

Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool’s free investing community, fast-food giant McDonald’s has earned a respected four-star ranking.

With that in mind, let’s take a closer look at McDonald’s and see what CAPS investors are saying about the stock right now.

McDonald’s facts

Headquarters (founded)

Oak Brook, Ill. (1948)

Market Cap

$99.0 billion

Industry

Restaurants

Trailing-12-Month Revenue

$27.6 billion

Management

CEO Donald Thompson (since 2012)

CFO Peter Bensen (since 2008)

Return on Equity (average, past 3 years)

36.4%

Cash/Debt

$2.3 billion/$13.6 billion

Dividend Yield

3.1%

Competitors

Burger King Worldwide

Starbucks

Yum! Brands

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 95% of the 6,230 members who have rated McDonald’s believe the stock will outperform the S&P 500 going forward.

Just last month, one of those bulls, BACnumber1, touched on McDonald’s still-very tasty growth prospects:

I love the expansion. [McDonald’s] is doing everything right by expanding their addicting food into places like Russia, India, and other parts of Europe, and of course, China. … Expect the profits to continue pouring in, and a stock price of 150 in 2 years. Best stock I see right now is [McDonald’s]. That is why it’s my first new pick for 2013. Yep. I came back to [CAPS] just for this pick.

After making investors rich in 2011, McDonald’s has been one of the worst-performing blue-chip stocks of 2012. Our top analyst on the company will tell you whether you should be worried by this trend, and he’ll shed light on whether McDonald’s is a buy at today’s prices. Click here now to read our premium research report on the company.

var FoolAnalyticsData = FoolAnalyticsData || []; FoolAnalyticsData.push({ eventType: “TickerReportPitch”, contentByline: “Brian D. Pacampara”, contentId: “cms.25586”, …read more
Source: FULL ARTICLE at DailyFinance

Lieff Cabraser Investigating Possible Securities Fraud at Great Lakes Dredge &amp; Dock Corporation

By Business Wirevia The Motley Fool

Filed under:

Lieff Cabraser Investigating Possible Securities Fraud at Great Lakes Dredge & Dock Corporation

SAN FRANCISCO–(BUSINESS WIRE)– The law firm of Lieff Cabraser Heimann & Bernstein, LLP is investigating potential accounting and securities fraud at Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company) (NAS: GLDD) .

If you have information relating to this investigation or purchased or acquired shares of Great Lakes prior to March 14, 2013, we encourage you to click here or contact Brendan P. Glackin of Lieff Cabraser toll-free at 1 (800) 541-7358.

Background on the Great Lakes Investigation

Located in Oak Brook, Illinois, Great Lakes is the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services. For the year ended December 31, 2012, Great Lakes reported Revenue of $687.6 million (9.6% increase from previous year), Net Loss of $2.7 million and Adjusted EBITDA of $60.9 million. For the year ended December 31, 2011, Great Lakes reported Revenue of $627.3 million, Net Income of $16.5 million and adjusted EBITDA $93.7 million.

On March 14, 2013, the Company disclosed it had recognized revenue in 2012 in a manner not consistent with its accounting policy. It further revealed “a failure of internal controls to detect or prevent misstatements in [its] financial statements,” which was “material to [its] results of operations for the quarterly and year-to-date periods ended June 30, 2012 and September 30, 2012.” The Company disclosed a “material weakness” in its disclosure controls, described as a deficiency (or series of deficiencies) in internal controls over financial reporting such that there is a reasonable possibility that a material misstatement of Great Lakes‘ annual or interim financial statements will not be prevented or detected on a timely basis. The Company further revealed that “2012 second and third quarter demolition segment revenues were overstated by $3.9 million and $4.3 million, respectively.”

On that same day, Great Lakes‘ President and Chief Operating Officer, Bruce J. Biemeck, departed the Company. Biemeck previously served in 2012 as CFO to the Company.

Following these revelations, Great Lakes‘ share price plummeted, losing approximately 20% of its value and resulting in approximately $100 million in investor losses.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in …read more
Source: FULL ARTICLE at DailyFinance

Go Inside the Secret Test Kitchen Where McDonald's Invents New Menu Items

By Business Insider

McDonald's Test Kitchen

Filed under: ,

By Kim Bhasin

We visited McDonald’s global headquarters in Oak Brook, Ill., and the company gave us a peek inside its test kitchen.

Tucked within the walls of the Campus Office Building, the Culinary Center seems to be in a peculiar place. It’s surrounded by endless cubicles and corporate-folk.

But inside the kitchen, there’s serious work being done.

“It’s not just chefs playing in the kitchen,” said Chef Jessica Foust, a nutrition and culinary manager at the test kitchen.

Every menu item…

Go Inside the Secret Test Kitchen Where McDonald’s Invents New Menu Items originally appeared on DailyFinance.com on 2013-02-19T12:15:00Z.

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…read more
Source: FULL ARTICLE at DailyFinance