Siemens picks banks for two disposals: sources

FRANKFURT (Reuters) – Siemens AG has picked banks to organize the sale of two units as part of its efforts to streamline operations and stay competitive in a weak global economy, people familiar with the matter said.

Goldman Sachs Group Inc will advise the German conglomerate on the sale of its Water Technologies units, while Rothschild will oversee the divestment of its smaller security products arm, which makes access card readers and technology for intruder detection and surveillance, the sources said on Monday.

Siemens, Goldman and Rothschild all declined comment.

Siemens, which ranks as Germany’s second-most valuable company and which makes products ranging from trains to hearing aids, late last year announced the plan to divest several units in a bid to focus on its most profitable businesses.

It also aims to put itself in a better position to compete in core product areas with the likes of Switzerland’s ABB Ltd and U.S.-based General Electric Co.

Since then, several possible bidders for the water unit – which has annual sales of about 1 billion euros ($ 1.4 million) and employs 600 – have approached the Munich-based group and investment bankers have started to work on the possible sale, the sources said.

HATS IN THE RING

Siemens built up its water technology operations through a flurry of acquisitions over the last decade, buying the water systems and services division of U.S. Filter from Veolia Environnement for instance for $ 1 billion in 2004.

Since much of Siemens’s water business is focused on North America, industry sources expect U.S.-based peers Xylem Inc and Pentair Ltd to take a look at the asset.

“Asian companies are also likely to throw their hats into the ring,” one of the people said.

The region is experiencing rapid economic growth, climate change effects, rising populations and stricter energy and water regulations and is therefore expected to see heavy investment in water treatment equipment in coming years, he said.

Kurita Water Industries Ltd, Hyflux Ltd, Hitachi Ltd and Marubeni Corp are seen as possible suitors, he added.

Big private equity groups like KKR & Co LP, Bain and Permira are also expected to show interest.

Permira in 2011 bought Israel-based Netafim, a maker of irrigation technology, for 800 million euros.

Siemens Water Technologies offers products ranging from conventional water treatment to emergency water supply and water disinfection systems.

A report published in 2010 by Global Water Intelligence, an industry journal, put the size of the global water market at more than $ 500 billion.

Siemens shares were down 0.3 percent by 8.25 a.m, backtracking from a five-month high set last week, compared with a 0.1 percent drop in the main German index.

(Additional reporting by Jens Hack; Editing by Hans-Juergen Peters)

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Barbara Walters hospitalized with chickenpox

NEW YORK (AP) — Barbara Walters would probably like to hit the reset button on 2013.

She’s got the chickenpox and remains hospitalized more than a week after going in after falling and hitting her head at a pre-inaugural party in Washington on Jan. 19. A fellow host on the “The View,” Whoopi Goldberg, said Monday that Walters has been transferred to a New York hospital and hopes to go home soon.

“She’s been told to rest. She’s not allowed any visitors,” Goldberg said. “And we’re telling you, Barbara, no scratching!”

The 83-year-old news veteran, who underwent heart surgery in May 2010, apparently avoided a disease that hits most people when they are children. It can be serious in older people because of the possibility of complications like pneumonia.

Even after concern about her fall had subsided, Walters had been kept hospitalized last week because of a lingering fever, and doctors found the unexpected cause.

“We love you, we miss you,” Goldberg said on “The View,” in a message to the show’s inventor. “We just don’t want to hug you.”

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Japan eased safety standards ahead of Boeing 787 rollout

Japan's government stepped in to give Boeing Co.'s now-grounded 787 Dreamliner and its made-in-Japan technology a boost in 2008 by easing safety regulations, fast-tracking the rollout of the groundbreaking jet for Japan's biggest airlines, according to records and participants in the process.

The concessions by an advisory panel to Japan's transport ministry reflected pressure from All Nippon Airways (ANA) and Japan Airlines (JAL) and a push to support Japanese firms that supply 35 percent of the 787 from the carbon-fiber in its wings to sophisticated electrical systems and batteries used to save fuel, people involved in the deliberations told Reuters.

"I believe the request for the changes came initially from the airlines. Ultimately, it was a discussion of measures to lower operating costs for the airlines," said Masatoshi Harigae, head of aviation at Japan's Aerospace Exploration Agency, one of the outside advisers who urged the eased regulatory standards.

There is no suggestion that easing regulatory standards contributed to the problems facing the Dreamliner, idled around the world after a string of malfunctions ranging from fuel leaks to battery meltdowns. There is also no evidence to suggest that continuing the mandate for more frequent manual inspections for new aircraft, including the Boeing 787, before 2008 would have helped catch signs of trouble earlier.

The looser regulations did not specifically address the risk of the Dreamliner's powerful batteries catching fire, the risk that safety investigators have zeroed in on in recent weeks.

But the steps taken by Japan's Civil Aviation Bureau in 2008 underscore how the deep commercial ties between Boeing and its Japanese suppliers and the backing of ANA and JAL helped build support for an easing of certification standards, based on a review of meeting records by the advisory panel released by the Ministry of Land, Infrastructure and Transport and comments from three of the seven experts who participated.

ANA and JAL declined to comment, deferring questions on regulatory standards to aviation officials and the ministry. Boeing in Tokyo said it couldn't immediately comment on the rule changes.

"We have not brought down our standards in comparison to other countries. This was a pragmatic revision," Tatsuyuki Shimazu, Chief Air Worthiness Engineer at the Civil Aviation Bureau, said.

ONGOING PROBE

Earlier this month, ANA was forced to make an emergency landing on a 787 domestic flight after a battery overheated and partially melted, triggering smoke alarms in the cockpit. The probe into that incident may take weeks or months as investigators still lack basic data to understand what went wrong, people involved have said.

In the meantime, the indefinite grounding of the Dreamliner has raised costs for both ANA and JAL and threatened to push back plans both carriers had for growth and new routes based on the new aircraft, analysts have said.

Boeing has yet to say whether it will compensate carriers for flight cancellations and higher operating costs. "We have been talking with our customers since (the 787 was grounded), but the details are confidential," said Rob Henderson, a Boeing spokesman in Tokyo.

After three meetings by a panel of industry and policy experts that concluded in March 2008, Japan's transport ministry said it would adopt 40 proposals to streamline regulations surrounding new aircraft. At the time, the ministry said the easier regulatory standards were designed in part to "quickly realize the benefits from the introduction of the 787."

ANA, the Dreamliner's biggest customer, and JAL committed to buy the first 787 in 2004, helping Boeing kick-start orders for the futuristic plane. Both subsequently increased their orders, with ANA planning to eventually fly 66 Dreamliners.

"At the time there was a lot of confidence in the aircraft. It was a discussion of measures to lower operating costs for the airlines," said Harigae.

Japan's government agencies often convene blue-ribbon panels of outside experts to review regulatory policy changes, as the transport ministry did for aircraft safety rules in 2007.

QUICKER TURNAROUNDS

Changes endorsed by the aviation group, including 40 revised safety guidelines, were presented as an effort to bring Japan into line with the framework of regulations in other markets, including the United States. At least five recommendations in the advisory report benefited the 787. Four mentioned support for the Dreamliner directly.

Three of the rule changes dealt with abbreviated testing and approval of pilots who had been cleared to fly the Boeing 777 and were preparing to switch to the 787. "It (787) is highly innovative and its safety is also advanced, but it's also very similar in design to the 777," said Kinya Fujiishi, an aviation journalist who sat on the panel. "This is why we thought it would be fine to revise the rule."

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Freezing rain bringing 'very slippery, tricky driving conditions'

Weather on the 1s

Staff report

12:01 p.m. CST, January 27, 2013

The National Weather Service has issued a freezing rain advisory for northeast Illinois that warns of an ice storm that is expected to last until 9 p.m. this evening.

According to the agency, the region will be hit with freezing rain, possibly mixed with sleet, that will turn to rain as the temperatures rise above freezing in later afternoon or early evening. The agency warns of ice accumulation, up to a tenth-of-an-inch or two, making travel hazardous and possibly leading to downed tree limbs and power lines.

Because the ground is below freezing, the precipitation will freeze on contact, the agency said, leaving sidewalks as well as streets with that potentially dangerous coating of ice.

The state’s transportation agency has 360 trucks in the northeastern part of Illinois ready to salt roads as soon as precipitation hits the area, said Mike Claffey, a spokesman for the Illinois Department of Transportation.

IDOT will be monitoring weather conditions, but roads will likely be slick this afternoon when the ice storm arrives, Claffey said. He also cautioned drivers to stay off the roads.

"It’s going to be very slippery, tricky driving conditions," Claffey said. "If you don't have to be out, you should not be."

Jennifer Delgado contributed.

chicagobreaking@tribune.com

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Pitching Chicago to China

World Business Chicago Vice Chairman Michael Sacks and former Commerce Secretary William Daley leave Sunday on a six-day business mission to China, Sacks' first official foreign trip as a top adviser to Mayor Rahm Emanuel.

Sacks said that he and Daley will pay their own way to China while World Business Chicago, a nonprofit that acts as the city's economic development agency, will cover the travel costs for two staff members, including one from the mayor's office.

Sacks and Daley will visit Hong Kong and Beijing before joining up with Choose Chicago CEO Don Welsh and the Chicago Symphony Orchestra in Shanghai.

There, they'll take in a CSO concert and co-host a reception for about 75 people, including tour operators, and China-based alumni of Northwestern University's Kellogg School of Management and the University of Chicago's Booth School of Business.

Sacks said he asked for Daley's help in selling Chicago to foreign officials, specifically the Chinese, after the former chief of staff to President Barack Obama returned home from Washington last year. Sacks said that was months before Daley said he was considering a run for governor in 2014.

"His gravitas, his stature as former commerce secretary and former chief of staff have made the quality of this trip better than anything I could have done myself," Sacks said. "I would not have been able to secure these meetings without him."

Daley and Sacks are expected to meet with 30-plus corporate executives, including the CEO of Hong Kong-based airline Cathay Pacific and billionaire Chinese entrepreneur Lu Guanqiu, whose son-in-law, Pin Ni, runs Elgin-based auto parts maker Wanxiang America Corp.; six Chinese officials, including the acting mayor of Beijing and China's commerce minister, Chen Deming; and U.S. Ambassador to China Gary Locke.

Sacks' role with World Business Chicago is a volunteer position. His day job is CEO of Grosvenor Capital Management. The investment firm is known as a hedge fund of funds because its primary business is to invest in multiple hedge funds on behalf of large investors, such as pension funds, corporations and sovereign wealth funds.

Sacks frequently travels abroad for his work, often adding city-related sales pitches to his itineraries. This, however, is his first foreign trip focused on his work at World Business Chicago.

Spertus changes name

The Spertus Institute this week will tweak its name — and with it, its identity — as part of an ongoing effort to recover from an unfortunately timed decision to open a new building on the eve of the financial crisis.

The institute, which has been a pillar of Jewish culture in Chicago since 1924, will now be called the Spertus Institute for Jewish Learning and Leadership. The institute also announced that its programming for children and families will be cut for the foreseeable future in favor of new academic offerings for people working at nonprofits.

"During the past 31/2 years, we eliminated a $3.8 million operating deficit, largely by dramatically reducing our programmatic footprint," said Hal Lewis, the institute's president, who took over in July 2009. "So I didn't have the money to go and get branding assistance. But I was convinced we had a branding challenge — because when I first became president I spent a good solid four months on a listening tour, in which people told me, 'Oh, yeah, I know something about Spertus,' but there was uncertainty about the work we did."

A grant from the Harvey L. Miller Foundation paid for most of the rebranding effort, which an outside consulting firm led.

"I should say I'm generally skeptical of consultants," Lewis said. "But they taught me something elegantly simple: Spend more time talking about the why and less time on the how. We know the enormous array of programs we offer ... but we never said why that's important. ... (The answer is) we believe that a learning Jewish community is a vibrant Jewish community. It is the historic experience of the Jewish people that learning doesn't stop at adolescence."

The institute has about 400 students in degree and certificate programs, from a one-day certificate in grant writing to a doctorate in Jewish studies, which can take up to 10 years to complete. The institute also offers public lectures on politics, arts and culture as well as museum-style exhibits.

Spertus plans to offer new leadership concentrations within its master's degree programs aimed at youth workers, camp counselors and early childhood teachers. It also plans to create programs in social entrepreneurship and lay-leader training. Lewis said also he may eliminate one of Spertus' existing education degrees, but these changes are not final and will not be announced until the spring.

"We were never best at early childhood education," Lewis said. "The synagogues are far better at that ... So this is not a retreat from one of our historic strong suits."

The seeds of the long-running overhaul of Spertus can be traced to the November 2007 opening of its building, an iconic glass sculpture at 610 S. Michigan Ave.

Lewis said so many assumptions about the building failed to materialize, such as revenue from room rentals. Nonprofits also heavily cut professional development funds during the recession, which, in turn, lowered enrollment because students were no longer able to get help paying for their master's degrees.

However, rentals and other economic indicators are beginning to reverse. The falling stock market hurt Spertus' program endowment, slicing it to about $6 million, and its building endowment to about $12 million. Those funds are now at about $7 million and about $17 million, respectively, Lewis said.

Steven Nasatir, president of the Jewish United Fund/Jewish Federation of Metropolitan Chicago, said his organization is assisting Spertus with fundraising. He said without the branding and other program changes Lewis is making, Spertus would be "treading water."

"The name change is a manifestation of resetting goals and is a positive thing," he said. "People have to better understand what you're attempting to do."

Melissa Harris can be reached at mmharris@tribune.com or 312-222-4582.

Twitter @chiconfidential

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Fire 'rekindles' at Bridgeport warehouse

A vacant warehouse in Bridgeport continues to burn.

Staff report

10:50 a.m. CST, January 26, 2013

A nearly 100-year-old Bridgeport warehouse is on fire again this morning after it was gutted during a 5-alarm fire on Tuesday, according to the Chicago Fire Department.

About 10 a.m., a tower ladder truck was sent to the scene to handle the rekindle at the ruins, according to the fire department.

Last night, as crews began demolishing the warehouse at 3757 S. Ashland Ave., the fire department officially released its conclusion as to how it began.

"In layman's terms, that means something that was burning such as a flame or match got near something that would burn," Langford said.

Langford said the building had no gas or electric service and no one was known to be living there. But the night of the blaze, Fire Commissioner Jose Santiago told reporters that in the past, firefighters had been called to the warehouse for small fires caused when squatters lit fires to stay warm.

The matter has been forwarded to the Chicago Police Bomb and Arson unit to determine if the fire involved foul play, Langford and police said.

Friday morning, a private wrecking company hired by the owners of the building began its demolition, Chicago Fire Department spokeswoman Meg Ahlheim said.

Tuesday night, a fire department battalion chief spotted smoke from the blaze as he drove past around 9 p.m. A third of the department's on-duty personnel were called to fight a fire fed by century-old support timbers. Crews have remained there since, dousing flames from the smouldering debris.

chicagobreaking@tribune.com

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New purported Galaxy Note 8.0 images confirm S-Pen support

Earlier this week, images that were purportedly of Samsung’s (005930) upcoming Galaxy Note 8.0 tablet leaked onto the Web. The slate looked like an oversized Galaxy S III smartphone and included the company’s physical home button, which had perviously been omitted from earlier Galaxy tablets. French blog Frandroid posted additional images of the tablet on Friday that confirmed it will include an S-Pen stylus, similar to the Galaxy Note II and Galaxy Note 10.1.

[More from BGR: Sony’s PS Vita: Dead again]

[More from BGR: The Boy Genius Report: Apple’s iMac takes desktop crown]

The Galaxy Note 8.0 is rumored to be equipped with a 1280 x 800 pixel resolution display, 1.6GHz quad-core processor and a 5-megapixel rear camera. The slate is also believed to include 2GB of RAM, 16GB of internal storage, a microSD slot and Android 4.2.

Samsung is expected to announce the Galaxy Note 8.0 tablet next month at Mobile World Congress in Barcelona.

This article was originally published on BGR.com

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Lorne Michaels comedy pilot lands at NBC

LOS ANGELES (TheWrap.com) – “Saturday Night Live” boss Lorne Michaels is broadening his relationship with NBC via a new comedy pilot.

The untitled project will star stand-up comic (and “SNL” writer) John Mulaney, and is loosely based on his life.

Mulaney will also write and executive-produce the project, with Michaels, Andrew Singer, Dave Becky and David Miner also executive-producing.

The project will be produced by Universal Television, Broadway Video and 3 Arts Entertainment.

Last month, Michaels – along with “Up in the Air” director Jason Reitman and “Girls” co-executive producer Bruce Eric Kaplan – sold a comedy pilot, “People in New Jersey,” to HBO. That project centers around an adult brother and sister who puzzle over the big and small mysteries of life while living in New Jersey.

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Shedd Aquarium looks to slice energy bill

Bob Wengel's job at Shedd Aquarium makes your typical thermostat war seem laughable.

For him, keeping everybody comfortable means manufacturing a 2 p.m. sunset for penguins attuned to the daylight rhythms of South America. It means maintaining 3 million gallons at a cool 58 degrees for blubber-laden whales while also satisfying tiny neon fish that won't tolerate less than 78 degrees.

"The first thing you've got to make sure is that your animals are happy," said Wengel, Shedd's vice president of facilities. "Then, your guests come next and, after that, the people who work here."

Until now it has also meant forking over $1.4 million for electricity and $154,000 for natural gas each year.

The Chicago cultural institution is in the early stages of a massive energy overhaul aimed at cutting energy consumption by half at the 83-year-old building. Under a plan developed pro bono by a public-private consortium, Shedd plans to swap out light bulbs, buy solar panels and sell "negawatts" (getting paid to power down) to the electrical grid to achieve its goal by 2020.

The idea: To create a road map other cultural institutions can follow.

"What we're talking about is bigger than the Shedd," said Mark Harris, president and CEO of the Illinois Science and Technology Coalition, which led the consortium that developed Shedd's energy saving plan.

The task won't be easy. Keeping 32,500 animals healthy, happy and well-lit takes a lot of, well, energy. Part zoo, part art space, the building is a life-support system for 1,500 species operating under the parameters of just about every time zone on the planet. Lighting clings to nearly every floor, ceiling and exhibit, mimicking sunlight, guiding visitors and attractively framing columns.

Most days a small ocean of water is chilled or run through heat exchangers, with excess heat released through cooling towers on the aquarium roof.

Staff members bike to work, diligently compost and exchange unwanted items instead of trashing them, and for years the aquarium has tracked its energy use and made changes where appropriate. Still, the energy consumed at Shedd has it claiming the carbon footprint of an endless 2,200-car traffic jam.

"If you ask me — 'What is sustainability?' — to someone like me who runs a facility, it's energy, waste, water," Wengel said.

In 2011, Shedd used so much energy that, if harnessed, it could power nearly 1,500 homes for a year.

If done right, Shedd's energy-shaving work will be mostly invisible.

Discerning visitors may notice a lighting change in Shedd's main entrance, where 600 light bulbs in the aquarium's octopuslike chandeliers were fitted this week with highly efficient LED bulbs, a change that will cut $7,000 a year off its electricity bills.

The sunlight that appears to grace the colorful, bustling exhibit of 450 reef dwellers just inside the main entrance is actually six LED lights that were first tested for their ability to mimic natural light.

"The solar on the rooftop will be visible," said Tom Hulsebosch, managing director for energy and utilities for West Monroe Partners in Chicago, the consulting firm that helped create Shedd's energy road map. "They might notice the subtlety of the LED lighting, but a lot of it is really behind the scenes."

Shedd's goal is to create an intelligent aquarium that is constantly communicating its energy needs to Wengel and his staff. That means letting them know in real time if a system is using more power than usual and where inefficiencies lie in everything from HVAC systems to life-support pumps.

According to the road map the coalition developed, the aquarium plans to participate in a program that pays big energy users to power down on days when the electric grid is strained by demand from air conditioners. But first that means finding out what in the aquarium can be safely powered down.

To start with, Shedd is installing individual meters on everything from lighting systems to chillers so it can track and analyze how and when energy is being used. From there it can determine which systems could safely be powered down without harming the animals or causing a disruption to patrons, and which could be used or timed differently to save money.

"They cannot compromise experience both on the visitor's side and on the animal side, and they cannot compromise performance because they have a life-support system they have to maintain. So just the fact that they can do this, with those huge barriers, is an incredible example," said Karen Weigert, chief sustainability officer for the city of Chicago, which worked with a coalition that developed the energy plan. Also part of the coalition were the Institute for Sustainable Energy Development and Citizens Utility Board.

The aquarium would simultaneously switch to a pricing scheme that rewards it for using the most energy at the times of day when demand is lowest and electricity prices are cheaper.

Also on the docket: solar panels with batteries for storing excess energy that could be sold back to the electric grid in the same way that power plants sell their power.

The plans are in line with that of Illinois, which in October 2011 approved a 10-year, $2.6 billion upgrade to the electrical grid that serves Shedd and the rest of the Chicago area. Half of that is being spent to create a smart grid that, according to ComEd, will bring 100-year-old electrical grid technology into the digital age, automatically reporting problems, rerouting power and eliminating the need for meter readers.

With a smart grid, Shedd could power up some systems while powering down others, and sell or buy electricity from the grid in real time according to the demands of the electrical grid.

To pay for these changes, Shedd plans to seek government grants and private donations. In time, say coalition members, those investments will reap dividends, financially, educationally and environmentally.

"The Shedd's in a unique position. It's been there for 100 years and it's going to be there for another 100 more; so, when you look at a 15-year return on investment, that's not too bad," Hulsebosch said.

jwernau@tribune.com

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Streak of days without inch of snow finally over

A relatively meager snowfall created huge headaches for commuters on Friday. CBS's Courtney Gousman capture this video on the Kennedy Expy. around 7:30 a.m. (Source: CBS Chicago)

By Peter Nickeas




Tribune reporter

12:36 p.m. CST, January 25, 2013

More than an inch of snow fell on Chicago today, ending a streak that began 335 days ago.

At 9:30 a.m., 1.1 inches of snow was recorded at O'Hare International Airport since midnight. That's the first day an inch or more of snow has fallen there since last February. The previous record was a stretch of 319 days set in 1940.

This morning's light snow also marks the latest it has gone during a winter before an inch of snow has fallen over a day.

Chicago has usually received about 18 inches of snow by this time, according to WGN-TV meteorologist Tom Skilling. As of this afternoon, just under 3 inches of snow have fallen on the city this winter.

"There's been no winter that's been as lackluster as this one," Skilling said.

But the season could still make a comeback.

Skilling said he studied the city's 10 driest winters and found most of them took a snowy turn in February or March. In one of those winters, 22 inches fell in February after next to nothing in January, he said.

With six days left in January, Chicago is trailing its monthly average for precipitation -- rain and snow -- by about a quarter of an inch, according to state climatologist Jim Angel.

"It would take a lot of snow to catch up on the major deficits we're seeing in the northern part of the state," he said.

pnickeas@tribune.com

Twitter: @peternickeas

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