Motorola Employees’ Stock Finally Pays Off: Google’s all-cash deal to acquire Motorola Mobility will benefit Motorola employees who have struggled through a long period of recession and reorganizations. Last week's $40-a-share offer should put employees with underwater options into the black. In a 2009 exchange, employees got options priced at $24.24, so the deal will yield 39 percent for them. The benefits will go not only to the 3,000 employees in Libertyville, but also to many of Motorola Mobility’s 17,000 other workers. Chicago Business How Will Google Impact Chicago? Google says it will let Motorola continue to run as a separate business, but some observers predict an influx of talent, if only because salaries and taxes are lower in Illinois than in California. However, if Google relocates Motorola Mobility, it would be hard on the northwest suburbs, where many employees reside. Pessimists worry that acquisitions always lead to layoffs, and that unemployed Motorola workers will put a strain on the local economy. The Chicago Tribune Chew on This: Groupon Wants the Wrigley Building: Goupon’s chiefs are in advanced talks to buy the two-tower Wrigley Building complex on Michigan Avenue to be the company's new home. It's a highly symbolic move, with a 120-year-old firm making way for a trendy online star. Says Chicago Business: “The Groupon founders represent a new generation of business leaders, many of whom got rich in technology or finance, moving to the fore as the city's older family fortunes split up and corporate pillars of the last century succumb to takeovers.” Chicago Business BrightTag Raises $5 Million: BrightTag, the Chicago-based digital marketing technology firm, has raised $5 million in funding from New World Ventures. The company says its funding is now at $8 million. Previous investors such as TomorrowVentures, EPIC Ventures and the I2A Fund also participated in the round. The Chicago Tribune Open Government, Chicago Style: The City of Chicago continues to get good PR for its efforts to get more information and operations online. Observers are impressed that the work continues through these recessionary times and in the face of aging infrastructure and falling budgets. City Hall has released two datasets per week since the Emanuel administration came into office. O’Reilly Radar Akoo International Opens New HQ: Akoo International, a media and technology innovator, has moved into a new global headquarters in Rosemont, just half a mile from O’Hare. The 25,000-square-foot space is where the company will develop interactive technology and operate a television network available at 161 “Akoo Pavilions” in shopping malls around the country. Business Wire Chicago: More Effects of Google-Motorola Deal
Motorola Employees’ Stock Finally Pays Off: Google’s all-cash deal to acquire Motorola Mobility will benefit Motorola employees who have struggled through a long period of recession and reorganizations. Last week's $40-a-share offer should put employees with underwater options into the black. In a 2009 exchange, employees got options priced at $24.24, so the deal will yield 39 percent for them. The benefits will go not only to the 3,000 employees in Libertyville, but also to many of Motorola Mobility’s 17,000 other workers. Chicago Business How Will Google Impact Chicago? Google says it will let Motorola continue to run as a separate business, but some observers predict an influx of talent, if only because salaries and taxes are lower in Illinois than in California. However, if Google relocates Motorola Mobility, it would be hard on the northwest suburbs, where many employees reside. Pessimists worry that acquisitions always lead to layoffs, and that unemployed Motorola workers will put a strain on the local economy. The Chicago Tribune Chew on This: Groupon Wants the Wrigley Building: Goupon’s chiefs are in advanced talks to buy the two-tower Wrigley Building complex on Michigan Avenue to be the company's new home. It's a highly symbolic move, with a 120-year-old firm making way for a trendy online star. Says Chicago Business: “The Groupon founders represent a new generation of business leaders, many of whom got rich in technology or finance, moving to the fore as the city's older family fortunes split up and corporate pillars of the last century succumb to takeovers.” Chicago Business BrightTag Raises $5 Million: BrightTag, the Chicago-based digital marketing technology firm, has raised $5 million in funding from New World Ventures. The company says its funding is now at $8 million. Previous investors such as TomorrowVentures, EPIC Ventures and the I2A Fund also participated in the round. The Chicago Tribune Open Government, Chicago Style: The City of Chicago continues to get good PR for its efforts to get more information and operations online. Observers are impressed that the work continues through these recessionary times and in the face of aging infrastructure and falling budgets. City Hall has released two datasets per week since the Emanuel administration came into office. O’Reilly Radar Akoo International Opens New HQ: Akoo International, a media and technology innovator, has moved into a new global headquarters in Rosemont, just half a mile from O’Hare. The 25,000-square-foot space is where the company will develop interactive technology and operate a television network available at 161 “Akoo Pavilions” in shopping malls around the country. Business Wire 