Samsung To Mass Produce Most Advanced 14 Nanometer DRAM

by The Chicago Times Business Staff

October 11, 2021

Seoul – Tech giant Samsung Electronics Co., Ltd., the global leader in advanced memory technology announced today that it has commenced mass production of the industry’s lowest 14-nanometer (nm) DRAM based on extreme ultraviolet (EUV) technology.

Samsung intends to broaden its 14nm DDR5 portfolio to include support for data center, supercomputer, and corporate server applications.  In addition, Samsung aims to increase the density of its 14nm DRAM chip to 24Gb in order to better satisfy the fast increasing data demands of worldwide IT systems.

PRICES AT THE PUMP EXPECTED TO INCREASE

by John McPhaul, The Chicago Times

October 11, 2021

CHICAGO – While certain parties worry about what information is post on “social media”, gas prices continue to rise throughout the country as oil prices hit a seven-year high.  Many states are now surpassing $3.20 per gallon.

According to data from GasBuddy, the national average price of gas is at $3.25 per gallon, up from 5.2 cents a week ago.  Furthermore, data gathered from more than 150,000 gas stations throughout the country, prices are up 7.5 cents from a month ago and more than $1 from a year ago.  Diesel is up more than 10 cents from last week and now costs $3.45 a gallon, according to the data.

Oil prices have been nearing a seven year high, with West Texas Intermediate crude oil prices topping $80 per barrel, according to CME Group.

Some argue that the spike in prices is pent up demand now being unleashed as the worldwide pandemic “eases”, while others site the Biden administration’s move to shut down the oil industry that was vibrant under the previous administration.  Many experts believe the country was nearly energy independent before the 2021 regulations took effect.  Whichever argument is true, prepare to pay at the pump.  High prices transcend party politics as families decided what they can afford to spend.

Dow Collapses 250 Points As Investors Await Earnings Season To Begin

by The Chicago Times Business Staff

October 11, 2021

NEW YORK — As investors remained focused on the release of new inflation data and third quarter profits this week, all three major U.S. stock indexes closed down Monday, marking their biggest one-day point declines in a week.

The Treasury market was closed in commemoration of Columbus Day, while the rest of the markets were open as normal.  The next significant data release in the coming week is the September consumer-price report for the United States, which is due out on Wednesday.

The Dow Jones Industrial Average plummeted 250.19 points to end at 34,496.06.  The S&P 500 dropped 30.15 points to close at 4,361.19.  While Nasdaq fell 93.34 points to finish at 14,486.20.

Hasbro, Inc. CEO Goldner To Take Leave of Absence

by The Chicago Times Business Staff

October 10, 2021

PAWTUCKET, RI — Hasbro, Inc. announced today that CEO Brian D. Goldner is taking a medical leave of absence that will take effect immediately. 

“After careful consideration, I have decided to take a medical leave to focus on my health. I feel confident knowing the Company will be in the skilled hands of Rich Stoddart as Interim CEO, our highly experienced management team and the best employees in the business. Hasbro’s future couldn’t be brighter as we continue to Supercharge the Blueprint and build the world’s leading play and entertainment company.” Mr. Goldner said in a statement.

“It has been a privilege to serve Hasbro for the past seven years as a Board member. I am humbled to step in as Interim CEO and lead the Company as it continues to execute the Brand Blueprint strategy, while Brian takes time to focus on his health. Hasbro has the most creative teams across the consumer products, digital gaming and entertainment businesses, and there’s no limit to what we can accomplish together.” added Mr. Stoddart in a statement.

Clear Height Properties & Buligo Capital Sells 814 Commerce Dr. Property in Oak Brook

by The Chicago Times Business Staff

October 8, 2021

OAK BROOK, IL — Clear Height Properties and joint venture partner Buligo Capital Partners have sold an Oak Brook office property, demonstrating the opportunity that some investors see in recently renovated suburban office assets with some vacancy.

Helios Properties, based in Chicago, purchased 814 Commerce, a three-story, 173,017-square-foot office building from the Clear Height-led joint venture.  The building was purchased by the partnership in late 2019.

Since acquiring the building in late 2019, Clear Height has invested significantly in modernizing and upgrading 814 Commerce.  The most notable and extensive improvements made with the $1.5 million invested were to the building’s exterior and common areas, parking deck, and HVAC systems.

56.1 percent of the building is leased  consisting of three tenants: Innovista Health Solutions, IRC Retail Centers, and CPS.  The available space ranges in size from 1,438 square feet to 45,722 square feet in a single continuous block.

U.S. Stocks Limp On Weak Jobs Report

by The Chicago Times Business Staff

October 8, 2021

NEW YORK – Stocks shook in choppy trade Friday, as investors struggled to find a clear theme for markets after labor data revealed that the US economy created far fewer jobs than expected in September.

The Dow Jones Industrial Average fell 8.69 points to close at 34,746.25, while the S&P 500 slipped 8.42 points to end at 4,391.34. The Nasdaq lost 74.48 points 14,579.54.

A rise in Treasury yields indicates that fixed-income investors believe September’s headline figures will not derail the central bank’s plans to begin unwinding its easy money policies before the end of the year.

The Labor Department reported Friday that nonfarm payrolls increased by only 194,000 in the month, compared to the Dow Jones estimate of 500,000.  However, the unemployment rate fell to 4.8 percent, compared to expectations of 5.1 percent, and the August report was revised up to 366,000 from 235,000.

In Washington, an unprecedented federal default was avoided this week when the Senate voted late Thursday to extend the government’s debt ceiling through December.  The reprieve is only temporary, as lawmakers must return to bargaining before the end of the year.