The Daily Herald from Arlington Heights, Illinois on March 9, 2008 · Page 135
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The Daily Herald from Arlington Heights, Illinois · Page 135

Arlington Heights, Illinois
Issue Date:
Sunday, March 9, 2008
Page 135
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SUNDAY, MARCH 9, 2008 Mmim and Shakers Olntiiarits Wmtlier 6,7 Business SECTION The Wall Street Journal Sunday Buying a first home Get a mortgage in a tough lending world — Page 4 3 Taking their hits Mutual funds are battered, but there are surprises — Page 3 Walters. Mossberg Personal technology Apple offers new wireless hard drive backup With its new Leopard operating system, Apple tried to solve one of the most nagging problems faced by home- computer users: how to regularly back up their computers completely and painlessly. Leopard includes a feature called Time Machine that automatically and continuously backs up a Macintosh computer's entire hard disk, without requiring the user to do any tedious = setup or have any technical knowledge. Time Machine is a key selling point for Leopard and the Mac. It is more complete, and yet simpler, dian the built-in backup feature in Vista Home Premium, the most popular home version ofWindows. But Time Machine has a major drawback: It works much better on desktop Macs than on laptop models. That's because it's primarily designed to operate with backup hard drives you connect directly to die computer. And it's a pain to plug a backup drive into a laptop, which can move around the house. While Time Machine will work with a remote hard disk under certain circumstances, that option requires a second Mac running Leopard, a cosdy condition. Now, Apple has attempted to fix the problem with an unusual new companion product called Time Capsule. This is a $299 stand-alone networked gadget that packs both a giant hard disk and a speedy Wi-Fi wireless router into one slender case. It just plugs into your existing home network, and any laptop within wireless range can connect to it. It can back up multiple computers. Time Capsule is designed to seamlessly work with Leopard's Time Machine. But it can also be used as a wireless Internet connection, and/or a remote hard drive, for manually storing and retrieving files by Windows PCs running eitiier Vista or Windows XP, or by Macs running Apple's older Tiger operating system. And you can also use it with certain other backup programs, such as the ones built into Windows XP or Tiger. In my tests over the past week, Time Capsule worked well in all of these scenarios. However, Time Capsule isn't meant to do as many different tasks as some other networked drives. Apple stresses that Time Capsule is a limited, targeted device meant primarily for backup — especially with Time Machine — and as a wireless base station. Unlike some other networked storage devices, like Hewlett-Packard's MediaSmart home server, See MOSSBERG on PACE 2 PHOTOS BY |OK I,K\VNARO/ Beginning Saturday, smoking will not be permitted on sidewalks or common areas outdoors at Westfield Old Orchard in Skokie. Mall to ban outdoor smoking Kim Mikus Around the malls Bob Jones often eats at the food court at Westfield Old Orchard and then heads outside to die common area and enjoys a cigarette. Beginning Saturday, Jones will __________ no longer be able to light up at the outdoor shopping center in Skokie. The mall is the first in the area to take the statewide smoking ban a step further in not allowing shoppers or ====== employees to smoke on any of the sidewalks or common areas outside stores. Signs go up Saturday when the Fresh Air Fabulous campaign starts. Jones, who has been smoking for 40 years, was shocked when he heard of the tougher rules. "They can't stop me from smoking outside, can they? As long as I'm 15 feet from the door, it should be OK," the Skokie man said. "As long as I'm not smoking inside, I should be fine." Not so, according to Westfield officials. Signs will be posted and security officials will be enforcing die tougher standards, according to Amy Benson, marketing director for Westfield Old Orchard. . "Security will inform people that smoking is only allowed off the property and off the sidewalks," Signs will be displayed at Westfield Old Orchard to inform shoppers that the mall is smoke free, General Manager Deborah Mattes says. she said. "This is much better for everyone," Benson added. Many shoppers at the upscale center applaud the effort. "I see no reason people need to be smoking in an area where mere are many children," said Kelley Wyant while eating at the food court last week. "I think it's a good thing," agreed Doug Merkel of Highland Park. "It's a nice thing to walk outside and not have to worry about the smoke," said former smoker Liz Delgenio. Some Old Orchard employees who smoke are not thrilled with the new policy. Others said they will find ways around the rule to get their nicotine fix. Cyrus Hosseini, an employee at Armani Exchange designer clothing store, said he'll attempt to go to the parking lot or across the street, wherever smoking is allowed. The 23-year-old Morton Grove resident said he's not a heavy smoker, so it shouldn't be that difficult for him to get through the day. Other outdoor shopping centers and lifestyle centers in the area follow the state law that prohibits outdoor smoking within 15 feet of See MIKUS on PAGE 2 Steuben Glass may be forced to close factory Asuariatnl /Vvs ROCHESTER, N.Y. —Want to buy some Steuben Glass? Longtime owner Corning Inc. has placed the maker of the only luxury lead crystal still handcrafted in the U.S. on the auction block. The crystal business launched by Frederick Carder in 1903 has been unprofitable for a decade, lost $30 million over die last five years and will be unloaded most likely this year — even if that means shutting it down, company officials said Thursday. "This is a very difficult decision and has been under consideration for several years," said Coming's chief financial officer, James Flaws. "We do not have a deadline for a sale. We would hope to reach an agreement with a new owner by the end of diis year." "If we conclude that we cannot find a buyer," Flaws added, "we will consider odier strategic options, which could include closing the business and the factory." Carder's richly hued creations turned the English designer into a giant of the glass arts scene alongside Louis Comfort Tiffany and Rene Lalique. Corning bought out the business in 1918 and, as popular taste turned toward less ornate forms, formulated a colorless, highly refractive, heavy lead crystal that has distinguished Steuben since the Depression era. Steuben Glass creates ornamental works of art that can cost into the tens of thousands of dollars. Its wine glasses are priced starting at $120 apiece. Corning, based in a small western New York city of the same name, evolved in the 1990s into the world's biggest maker of optical fiber and cable and now dominates the global market for liquid crystal display glass used in computers and television monitors. Steuben Glass has lately generated about $25 million in annual revenue and employs 150 people, Flaws said. While crystal hasn't always contributed to profits, its value rested in the status it conferred on its owner and the potential of contributing new glassmaking technologies. But sales of pure-lead crystal have been steadily diminishing, and Steuben Glass posted a $5.7 million loss in 2007, Flaws said. He said Corning might consider selling just the brand name and keep operating die factory, an option favored by the United Steelworkers of America, which represents 85 employees. "It appears that it's just not a fashionable product anymore" and that "it's gotten to the end of die generation it appeals to," said the union local's president, Mike Walker. Corning "made a lot of attempts at new products — our people would have made whatever would have worked, be it color glass or whatever," Walker said. "Perhaps somebody else can come in and figure out how to get this beautiful product reintroduced into the marketplace and make it successful." Your investments and the economy BY MICHAEL SKAN COMERFORD DAILY 1 IKK.M.D in ^SINLSS \Vw ir.R mroinerfunt&dailylifraM.cuiii What moved the markets last week? "I would summarize this week in the market by saying that conditions probably drifted further from being set- tied in both the credit markets and the stock market. The uncertainty about the economy, the uncertainty about the credit worthiness of certain companies and institutions still seems to be hampering performance of investments." Do the markets have a momentum In any Carl Tannenbaum of Downers Grove is an economic consultant, lltefrtoiieaudio at direction? "There is really a negative tone to all the markets. The stock market continues to lose ground, albeit at a gradual pace. But when you add up die poor performances we've had this year, it does amount to, overall, a pretty important correction. And die uncertainty is being heightened by some of the actions and statements we are getting from our policy makers and our central bank." What comments by the Fed are you referring to? "Chairman (Ben) Bernanke was out tiiis week, again, offering comments. But this (time) liis comments included the observation that there are some banks that are likely to fail. And there was the request tiiat banks begin reducing the principal amounts on mortgages diat are owed to them. Now, both of them may have been very candid remarks, but there are some who say they would best have been made in private." Are we in a recession? "News (on Friday) reinforces the view that we are in a recession. That is a view, I admit, I hold. I think the economy will contract during the first quarter of the year and may contract again in the second quarter of the year. We have gotten by, given the housing correction and the market correction so far, largely because we were still creating jobs and those people with jobs were seeing their incomes increase... The news that we are going to lose jobs instead of creating them and that wage levels are beginning to slip, removes one of the last supports for the spending everyone is relying upon." The Market Friday's Week's Percent Index close change change DOW 11,893.69-372.70 -3.0 Mas 2,212.49 -58.99 -2.6 S&P 1,293.37 -37.26 -2.B AMEX 2,272.59 -54.01 -2.:) MYSE 8,676.27 -286.19 -U.2 What could move markets this week? "The economic calendar is relatively quiet. We'll get readings on both retail sales and consumer prices. But I think we'll be closely watching the efforts of the Fed to stabilize the liquidity in the market." Count your chickens before they're hatched. Introducing the 15-month 'vP»\J\J Springtime CD from Cole Taylor Bank. Can't wait that long? Choose our 7-month 3.85% APY* Springtime CD. <VAj^ To open your Springtime CD, call or visit a Cole Taylor banking specialist. " * ~ Chicago - Loop Chicago - North Chicago - South Burbank Lombard Rowmont Skokit i;Ub Cldtf Si 1'/6bN A',u 1W? W 4/lhSt bbUl W /Vth Si One- Lunlei V'jWW Huj,jK,b H.^'J 4-1,/J Vt Unil.i ': ,il 1' '/fiO-'j.iiJij it 1 ^,'ti 6WJI, 1 //^-V//-/UJO /ue 4V4 V4bO 6 JO t/"/ 3aiJJ M/ 6iJ /V/ti U-1-' •. '•'• \','t. W4t i^rdSt -I'-- 1 V, •„.»«• ,-i • »•«(._«;, Yn-ij (APY) s -. ctt..-, t,w Waft!' b. v.'UOu ui.d * iutjea loi.hjnijtj ut dny IINIL- Minimum $10,UUU Jup-j-...! lu '-Jji.-n J'i,J L -UK Ai J Y ^^,1 .,| | !., t.-i ,KA : , N.'.- Wheeling •••i t. 0,,',,,..•. r<-J

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