Local sales of homes in foreclosure jump 65% in 3Q

Sales of Chicago-area homes in the foreclosure process but not yet repossessed by banks soared during the third quarter, RealtyTrac reported Thursday.

The online foreclosure marketplace said 3,531 pre-foreclosure homes in the greater Chicago area sold in the three months that ended in September, up 34 percent from the second quarter and 65 percent year-over-year. Separately, third-quarter sales of repossessed, bank-owned properties rose to 5,731 properties, up 37 percent from June and 45 percent from 2011's third quarter.

Increased sales of distressed homes are a good sign for the market's long-term health because overall prices will rise as discounted properties are removed from the market. Also, the increase in pre-foreclosure short sales has enabled homeowners to benefit from the Mortgage Forgiveness Debt Relief Act, which does not treat the forgiven part of the unpaid debt as taxable income. The legislation is set to expire at year's end.

Natiionally, the 98,125 pre-foreclosure short sales completed during the third quarter just outnumbered the sale of 94,934 bank-owned properties.

"The shift toward earlier disposition of distressed properties continued in the third quarter as both lenders and at-risk homeowners are realizing that short sales are often a better alternative than foreclosure," said Daren Blomquist, a RealtyTrac vice president.

However, he added, "The prospect of being taxed on potentially tens or hundreds of thousands of dollars in additional income may motivate more distressed homeowners to forgo a short sale and allow the home to be foreclosed."

On average, Chicago-area homes sold through short sales, a transaction where the homeowner sells the property for less than the amount owed on the mortgage, with the bank's permission, sold for an average discount of 41 percent from non-distressed sales. Bank-owned homes sold at an average discount of 54 percent.

RealtyTrac said sales of distressed properties accounted for 28 percent of Chicago-area home sales during the third quarter. The company's definition of the Chicago area extends from southern Wisconsin to Northwest Indiana.

mepodmolik@tribune.com | Twitter @mepodmolik

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Jazz legend Dave Brubeck dead

Dave Brubeck, a jazz musician who attained pop-star acclaim with recordings such as "Take Five" and "Blue Rondo a la Turk," died Wednesday morning at Norwalk Hospital, in Norwalk, Conn., said his longtime manager-producer-conductor Russell Gloyd.

Brubeck was one day short of his 92nd birthday. He died of heart failure, en route to "a regular treatment with his cardiologist,” said Gloyd.

Throughout his career, Brubeck defied conventions long imposed on jazz musicians. The tricky meters he played in “Take Five” and other works transcended standard conceptions of swing rhythm.

The extended choral/symphonic works he penned and performed around the world took him well outside the accepted boundaries of jazz. And the concerts he brought to colleges across the country in the 1950s shattered the then-long-held notion that jazz had no place in academia.

As a pianist, he applied the classical influences of his teacher, the French master Darius Milhaud, to jazz, playing with an elegance of tone and phrase that supposedly were the antithesis of the American sound.

As a humanist, he was at the forefront of integration, playing black jazz clubs throughout the deep South in the ’50s, a point of pride for him.

"For as long as I’ve been playing jazz, people have been trying to pigeonhole me,” he once told the Tribune.

"Frankly, labels bore me."

He is survived by his wife, Iola; four sons and a daughter; grandsons and a great granddaughter.

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Apple shares tumble 4 percent in heavy trade

NEW YORK/SAN FRANCISCO (Reuters) - Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market.

The stock was one of the biggest percentage losers on the S&P 500, dropping 5.2 percent to $545.56 at one point as more than 17 million shares changed hands, putting it on track to surpass the company's average daily volume over 50 days of 21 million shares.

The stock's massive size meant the retreat was responsible for two-thirds of the 1.1 percent decline in the Nasdaq 100 Index on Wednesday.

Analysts gave different reasons for the decline. Some cited a research report saying the company will lose share in the tablet computer space next year. Others cited reports of higher margin requirements at clearing firms, and several investors said uncertain tax rates on capital gains in 2013 prompted selling.

"Depending on what happens with the (U.S. fiscal negotiations), rates could rise next year or they could stay the same," Brian Battle, director of trading at Performance Trust Capital Partners in Chicago, said. "They will not be lower, so if you're an investor who has seen gains in Apple, it is better to take those gains this year rather than next."

Apple is still up 36 percent so far this year, but has been weak recently, dropping into bear market territory. The stock is now down nearly 22 percent from its all-time high of $705.07 a share of September 21.

Some were perplexed at the sudden falling out of favor of the stock, which so far has been a staple in almost all growth portfolios.

"Apple stock is significantly more volatile than its earnings and innovation stream," Daniel Ernst, analyst with Hudson Square Research said. "And yet the wind blows slightly from the south instead of the east one particular morning and the stock is down 6 percent."

"It makes no sense. There are lines around the block for their products all around the world," he added. "No other company has that."

On Wednesday, research firm International Data Corp said Apple would shed market share in the tablet computer space for all of 2012, with consumers favoring devices that run on Google's Android platform instead of Apple's popular iPad product line.

Apple's worldwide tablet market share would slip to 53.8 percent in 2012 from 56.3 percent in 2011, while Android products would increase their share to 42.7 percent from 39.8 percent, IDC said.

The main reason for the negative sentiment around the stock is likely concerns about new competition in the tablet market, Colin Gillis, an analyst with BGC Partners, adding that some investors who were hoping for a special dividend this year may be disappointed as time is running out.

"If you were expecting special dividend by year end, that's less likely to happen because its December 5," he said.

TAX SELLING

Separately, Nokia is to partner with China Mobile, the world's biggest mobile operator, in a sales deal that will give the Finnish company an opportunity to win back Chinese market share from Apple's iPhone.

"This is not going to be a short-term trend. This is a management test, of how well they can perform without (deceased former chief executive) Steve Jobs," said Battle.

Referring to one of Apple's most recent product launches, a version of the iPad that was smaller but not a new product category, Battle said Apple would need "another home run" for shares to return to levels around $700.

"They need another new product that hits it out of the park. Without that, they could get a gradual grind-down in confidence," he said.

The 7.9-inch iPad mini marks Apple's first foray into the smaller-tablet segment and is the company's first major new device since the death of co-founder Jobs last year.

While lines for the new iPads had appeared lighter than usual when it hit stores in November, the company said at that time that demand was so strong that it "practically sold out of iPad minis". It said it sold 3 million of its new iPads -- including the newer full-size version -- in the first three days on the market.

Apple is currently ramping up the introduction of its latest iPhone 5 smartphone and smaller iPad mini tablet in international markets. The company is launching the iPhone 5 in 50 countries in December, including China and South Korea.

Some analysts suggested that investors also sold shares of Apple amid uncertainty over ongoing fiscal negotiations in Washington. If no agreement is reached on the issue, higher taxes on dividends and capital gains are possible in 2013. That has prompted some investors to lock in profits now, particularly on a stock like Apple, which has posted gains of at least 25 percent for four consecutive years.

Tax selling "can take a life of its own," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

"Some taxable investors take the gains, that creates some negative momentum, institutional investors are heavily weighted the stock and reduce exposure."

(Additional reporting by Charles Mikolajczak in New York and Doris Frankel in Chicago; Editing by Bernadette Baum and Andrew Hay)

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Jets going with Mark Sanchez as starting QB

FLORHAM PARK, N.J. (AP) — Rex Ryan is sticking with Mark Sanchez as the New York Jets' starting quarterback.

The coach announced Wednesday that Sanchez, benched last Sunday against Arizona, will get the start this week over Greg McElroy and Tim Tebow when the Jets play the Jaguars at Jacksonville.

"I have to get this decision right," Ryan said, "and I believe I have."

Sanchez was pulled late in the third quarter, and McElroy came in and led the Jets to the only touchdown of the game on his first NFL drive and helped New York to a 7-6 victory. Sanchez was 10 of 21 for 97 and three interceptions, while McElroy was 5 of 7 for 29 yards and the score, and appeared to spark the team.

Ryan brought all three quarterbacks into a meeting Wednesday morning and told them of his decision. He said he consulted with several people, including his staff, and "put a lot of thought" into it before making up his mind late Tuesday night.

"It's really a decision I feel great about," he said.

It was perhaps the biggest call in Ryan's nearly four years as coach of the Jets, considering the sensitivity of the situation and the possible ramifications. He acknowledged that there were differing opinions among those he spoke to, but said he received no pressure from owner Woody Johnson and added that he was "absolutely" OK with the decision.

"I'm fortunate," he said. "I have a great relationship with my owner, with Woody. ... From the day Mr. Johnson hired me, he said it's 100 percent my decision who plays."

Sanchez, whose confidence was shaken with Sunday's miserable performance, gets a chance to bounce back from the first benching of his NFL career and regain the trust of his teammates. He has struggled the last several weeks, with two touchdowns and five interceptions in his last four games.

"He has to play better and he has to protect the ball better," Ryan said. "As a football team, we have to protect the ball better than we have."

He'll likely be on a short leash against Jacksonville — with McElroy possibly ready to go — but Ryan acknowledged that it might not be a quick hook if he struggles.

"If he throws one interception, it doesn't mean he's going to get benched, necessarily," Ryan said.

It's still uncertain if Tebow will be active against his hometown Jaguars after sustaining two broken ribs. He was medically cleared by team doctors to play, but Ryan chose to keep him active but not play against New England on Thanksgiving night and then made him inactive against Arizona.

If Ryan went with McElroy, a seventh-round pick in 2011 out of Alabama, it would have been a clear message that the franchise is moving on from Sanchez.

"I'll just keep working, go study this film and keep trying to improve," Sanchez said Sunday after the game. "I need to understand where the mistakes came from, keep studying, keep preparing, be ready to play next week and see what happens."

However, money might have played a role, too, with Sanchez owed $8.25 million next year in guarantees. But Ryan adamantly denied that factored into the decision.

"Absolutely zero," he said without hesitating.

Still, the Jets are likely stuck with Sanchez and his contract, so they need to see if he can rebound after the lowest point of his career.

"I believe in Mark," Ryan said. "He has the skill set that is pretty impressive."

If Sanchez can't bounce back, it will be an intriguing offseason for New York, especially since Tebow has not played much since being acquired from Denver in March and might not be back next year.

It didn't appear that Tebow was much of a factor in Ryan's decision. Ryan said all three quarterbacks would be in the mix, but didn't speculate as to whether he would have pulled Sanchez in favor of Tebow last Sunday if he were active.

Tebow was expected to have a major role in the offense, but instead has been just a spare part averaging about seven offensive snaps per game. He has been listed as the No. 2 quarterback on the depth chart, but if the Jets turned to McElroy, it would have meant that the No. 3 guy leapfrogged Tebow to start for the Jets.

Although Ryan said earlier in the week that it wouldn't play a part in his decision, the fact the team is playing on the road for the next two games should also help Sanchez.

He was booed mercilessly by the MetLife Stadium crowd last Sunday, particularly after each interception, and chants for McElroy were heard throughout the game. McElroy was cheered as he warmed up late in the third quarter, and there was growing sentiment among some fans and media that he earned a start after lifting the team.

"This is my opinion," Ryan said, "and I believe that sometimes you don't need to sit a guy for 'X' amount of games."

The Jets are hoping he also sparked Sanchez, whom they deemed the face of the franchise just a few years ago when they traded up in the draft in 2009 and took him with the fifth overall pick. He helped lead New York to consecutive trips to the AFC championship game for the first time in team history, but it has been a bumpy ride since. Sanchez has been criticized the last two seasons for failing to take the next step in his development, and Ryan has been knocked for sticking with the quarterback for too long.

The two have been joined at the hip, and stand side-by-side during the national anthem before every game. Ryan was seen in the locker room consoling Sanchez after the game, his arm on his shoulder as the two spoke for a few minutes. Until last Sunday, the threat of being benched — even with Tebow on the roster — didn't appear to be a real possibility.

Now, Ryan has sent the message to Sanchez: Perform or else. And, Sanchez gets one more shot to save his job this season — and his status as the Jets' franchise quarterback.

"I think Mark is plenty tough," Ryan said. "I don't think there's any doubt he has the mental toughness."

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Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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Longer tamoxifen use cuts breast cancer deaths

Breast cancer patients taking the drug tamoxifen can cut their chances of having the disease come back or kill them if they stay on the pills for 10 years instead of five years as doctors recommend now, a major study finds.

The results could change treatment, especially for younger women. The findings are a surprise because earlier research suggested that taking the hormone-blocking drug for longer than five years didn't help and might even be harmful.

In the new study, researchers found that women who took tamoxifen for 10 years lowered their risk of a recurrence by 25 percent and of dying of breast cancer by 29 percent compared to those who took the pills for just five years.

In absolute terms, continuing on tamoxifen kept three additional women out of every 100 from dying of breast cancer within five to 14 years from when their disease was diagnosed. When added to the benefit from the first five years of use, a decade of tamoxifen can cut breast cancer mortality in half during the second decade after diagnosis, researchers estimate.

Some women balk at taking a preventive drug for so long, but for those at high risk of a recurrence, "this will be a convincer that they should continue," said Dr. Peter Ravdin, director of the breast cancer program at the UT Health Science Center in San Antonio.

He reviewed results of the study, which was being presented Wednesday at a breast cancer conference in San Antonio and published by the British medical journal Lancet.

About 50,000 of the roughly 230,000 new cases of breast cancer in the United States each year occur in women before menopause. Most breast cancers are fueled by estrogen, and hormone blockers are known to cut the risk of recurrence in such cases.

Tamoxifen long was the top choice, but newer drugs called aromatase inhibitors — sold as Arimidex, Femara, Aromasin and in generic form — do the job with less risk of causing uterine cancer and other problems.

But the newer drugs don't work well before menopause. Even some women past menopause choose tamoxifen over the newer drugs, which cost more and have different side effects such as joint pain, bone loss and sexual problems.

The new study aimed to see whether over a very long time, longer treatment with tamoxifen could help.

Dr. Christina Davies of the University of Oxford in England and other researchers assigned 6,846 women who already had taken tamoxifen for five years to either stay on it or take dummy pills for another five years.

Researchers saw little difference in the groups five to nine years after diagnosis. But beyond that time, 15 percent of women who had stopped taking tamoxifen after five years had died of breast cancer versus 12 percent of those who took it for 10 years. Cancer had returned in 25 percent of women on the shorter treatment versus 21 percent of those treated longer.

Tamoxifen had some troubling side effects: Longer use nearly doubled the risk of endometrial cancer. But it rarely proved fatal, and there was no increased risk among premenopausal women in the study — the very group tamoxifen helps most.

"Overall the benefits of extended tamoxifen seemed to outweigh the risks substantially," Dr. Trevor Powles of the Cancer Centre London wrote in an editorial published with the study.

The study was sponsored by cancer research organizations in Britain and Europe, the United States Army, and AstraZeneca PLC, which makes Nolvadex, a brand of tamoxifen, which also is sold as a generic for 10 to 50 cents a day. Brand-name versions of the newer hormone blockers, aromatase inhibitors, are $300 or more per month, but generics are available for much less.

The results pose a quandary for breast cancer patients past menopause and those who become menopausal because of their treatment — the vast majority of cases. Previous studies found that starting on one of the newer hormone blockers led to fewer relapses than initial treatment with tamoxifen did.

Another study found that switching to one of the new drugs after five years of tamoxifen cut the risk of breast cancer recurrence nearly in half — more than what was seen in the new study of 10 years of tamoxifen.

"For postmenopausal women, the data still remain much stronger at this point for a switch to an aromatase inhibitor," said that study's leader, Dr. Paul Goss of Massachusetts General Hospital. He has been a paid speaker for a company that makes one of those drugs.

Women in his study have not been followed long enough to see whether switching cuts deaths from breast cancer, as 10 years of tamoxifen did. Results are expected in about a year.

The cancer conference is sponsored by the American Association for Cancer Research, Baylor College of Medicine and the UT Health Science Center.

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Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Let the debate end: Grammy noms anybody's guess

NASHVILLE, Tenn. (AP) — It's a brutal year to be in the Grammy nominations handicapping game.

Sure, there are a few safe bets. Mumford & Sons and Frank Ocean are expected to take a share of nominations when they're announced Wednesday night on national television during "The Grammy Nominations Concert Live!" in Nashville.

And popular songs by Gotye, fun., Taylor Swift and Carly Rae Jepsen may land those artists on the list as well, though Jepsen harbors some doubt her omnipresent song "Call Me Maybe" will net a nod.

"I would be so shocked," the 27-year-old singer said last week. "But this year has taught me to look forward to surprises and just be ready for anything. So, cross your fingers for me."

Viral songs like Jepsen's seemed to be the theme of the year, and with no watershed albums during the nominating period for the 2013 Grammys like Adele's "21" or Kanye West's "My Beautiful Dark Twisted Fantasy," it's not clear who will turn out as this year's top nominee.

Thus the guessing game.

The Grammy nominations period ended Sept. 30 and three of the year's top four debuting albums — from Swift, One Direction and Jason Aldean — came after that date. Rihanna also released a new album after the period ended. All could have songs nominated, but a popular album is the quickest way to accumulate multiple nods.

Mumford & Sons slipped in just under the deadline. Introduced to much of their burgeoning fan base through a 2011 appearance on the Grammys, the British folk-rock band could return with a flourish after selling 600,000 copies of "Babel" in the first week of release and setting streaming records on Spotify.

And Ocean showed the kind of bravery that might be rewarded by The Recording Academy's voters when he announced in liner notes for his album "channel ORANGE" that he'd had a same-sex encounter, causing an industry-wide discussion of the issue.

Questions surround many of the other artists who might be considered sure bets, however. Gotye should be a lock in multiple categories, but his viral song "Somebody That I Used to Know," featuring Kimbra, wasn't submitted in the song of the year category because of a sample, eliminating one of its most viable prospects.

Others who might be considered possible top nominees like Drake and The Black Keys released their platinum-selling, hit-spawning albums late last year and they'll have to overcome short-term memory issues among voters.

Sean Garrett, a producer for artists like Usher and Beyonce with multiple Grammy nominations, said a lack of clear trends during the nominating period made it difficult to guess going into the show.

"It was sort of an iffy kind of year in my opinion," Garrett said in a phone interview. "I'm going to be honest: I think the politics kind of slowed the music down."

He expects pop stars like Jepsen, Bieber, Swift and Korean sensation PSY to take home nominations, but doesn't see an artist accumulating a high number of nominations. That could leave room for newer acts, including fun., one of his favorites.

"They have a very clever sound," Garrett said. "The lead singer (Nate Reuss) has an amazing, amazing voice. I feel like they just came with something that was a bit different. It was mainstream pop music and it had some edge to it. And there was great songwriting there."

Fun., with their anthemic hit "We Are Young," are among the night's performers, joining Maroon 5, Ne-Yo, Luke Bryan, The Who, Hunter Hayes and others.

"It just feels like we spent the last 12 years pulling back the arrow and this year we just let it go," fun. guitarist Jack Antonoff said. "This last year has been incredible and amazing and hard and I don't even know what it would have been like if we didn't have 10 or 12 years of experience because it still feels like we're learning everything for the first time."

The nominations show is being held outside Los Angeles for the first time in its five-year history. LL Cool J returns, co-hosting the show live on CBS at 10 p.m. EST from Bridgestone Arena with Swift.

It's the first official Grammy activity in Music City since 1973, when the late Johnny Cash kicked off the live broadcast. He'll figure into Wednesday night's as well when Dierks Bentley and The Band Perry pay tribute to the man in black.

"So we're going to do that as a tribute to Johnny, a tribute to Nashville, a tribute to country music, a tribute to being back here," longtime Grammy producer Ken Ehrlich said. "And I think it will be magical."

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AP Music Writer Mesfin Fekadu contributed to this report from New York City.

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Online:

http://grammy.com

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Follow AP Music Writer Chris Talbott: http://twitter.com/Chris_Talbott.

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South Loop residents oppose DePaul arena

The prospect of a DePaul University men's basketball arena being constructed on land just north of McCormick Place is drawing strong opposition from the Prairie District Neighborhood Alliance, a South Loop residents' organization, according to a letter released Tuesday.
 
A survey of 700 neighbors of the site, conducted by the community group, found more than 70 percent oppose construction of a Blue Demons arena there, Tina Feldstein, president of the organization, stated in the letter.
 
An arena would not fit within the residential and historic character of the area and could put two landmark structures, the Harriet F. Rees House and the American Book Co. building, at risk, the letter stated. It would also add to traffic congestion and potential rowdiness in an area already overburdened when conventions are in progress at McCormick Place or major events, including Chicago Bears games, are taking place at Soldier Field, Feldstein said in an interview.
 
"We're not against vibrant development, which hotel and retail would bring," Feldstein said. And the group would support an arena at an alternate site on the Near South Side, she said.
 
The letter was written in support of an alternate plan for the so-called "Olde Prairie" blocks, which is being put forward in bankruptcy court by developers Pam Gleichman, Karl Norberg and Gunnar Falk. Their plan calls for hotel and retail development on property directly north of the McCormick Place administrative offices and West Building on Cermak Road.
 
If they lose control of the property, it is expected to go up for auction, making it possible for the Metropolitan Pier and Exposition Authority, the state-city agency that owns McCormick Place, or other parties to make a run at it.
 
DePaul is weighing several sites, including property near McCormick Place and the United Center on the Near West Side. As well, the Allstate Arena in Rosemont is fighting to retain the team.
 
The neighborhood's opposition adds to resistance by Ald. Robert Fioretti, whose 2nd Ward includes McCormick Place.
 "That is not a place to put an arena -- far away from the school," he said. "I think there are traffic issues related, and it would be a bad deal for taxpayers in these economic times."

Fioretti noted such a project likely would require public subsidy.
 
The Olde Prairie blocks have not been officially designated as a potential site for a DePaul arena, but Fioretti said it is his understanding that they are being seriously considered.
 
Jim Reilly, chief executive officer of the exposition authority, known as McPier, has publicly acknowledged that there have been talks with DePaul. A spokeswoman on Tuesday said it would be premature to comment further at this point.

A DePaul spokesperson could not be reached for immediate comment.
 
Chicago Mayor Rahm Emanuel has said he would like DePaul to bring men's basketball back to the city. A spokesman declined comment beyond that.
 kbergen@tribune.com | Twitter @kathy_bergen

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Brewer to sponsor CTA free rides on New Year's Eve

The CTA, which is hiking the price of fare passes by as much as 74 percent next year, offered a New Year’s Eve toast to riders on Tuesday by announcing free rides for eight hours starting late on Dec. 31.

MillerCoors was introduced as the first corporate sponsor of the annual CTA penny rides program, which is in effect from 10 p.m. on New Year’s Eve through 4 a.m. Jan. 1, to provide a safe alternative to drunken driving.

Although the CTA is required by statute to collect fares from passengers, bus drivers and rail station attendants frequently wave revelers aboard on New Year’s Eve without paying the 1-cent fare.

Now that policy will be semi-official under the $1.3 million sponsorship that MillerCoors is paying to the CTA under the three-year deal, CTA president Forrest Claypool said Tuesday at the Clark/Lake station in the Loop, where a display of the Chicago skyline comprised of 8,000 pennies was unveiled.

In return for the sponsorship fee, MillerCoors, the maker of Miller Lite, will mount a marketing campaign called “Great Beer, Great Responsibility’’ on the CTA system and 150,000 farecards with the marketing theme will be sold to riders over the next month, said MillerCoors CEO Tom Long.

Claypool said every penny counts at the CTA – which in 2013 will raise the price of 1-day, 3-day, 7-day and 30-day passes as well as more than double the fare from O’Hare International Airport toward the city to $5 from the current $2.25 – to help balance the agency’s operating budget.

He said collecting the penny fare on New Year’s Eve has been more trouble than it is worth, saying that customers sometimes try to stick a penny into the wrong slot on bus fareboxes, jamming the machines.

An average of 150,000 bus and train rides are taken on New Year’s Eve, CTA officials said.

The CTA recently dropped a 15-year ban on alcoholic beverage advertisements on the CTA system. Alcohol ads are now allowed on CTA trains and at some rail stations, but not on buses. The new ads are projected to bring in more than $1 million a year under the current contract, and millions more under future advertising contracts, officials said.

The MillerCoors agreement is one of the CTA’s first sponsorships. Earlier this year, the transit agency solicited bids for corporate naming-rights sponsorships to assets including Bus Tracker and Train Tracker, the Holiday Train, New Year's Eve penny rides and First Day Free Rides for Chicago Public Schools students. The Chicago Sun-Times signed up to pay $150,000 to help cover the costs of the free rides to schools on Sept. 4.

The transit agency has also offered to sell businesses naming rights and sponsorships to 11 rail stations, mostly on the North Side and downtown as well as at both Chicago airports. The stations are Addison, Belmont, Fullerton, North/Clybourn, Chicago, Grand/State, 79th and 95th on the Red Line; Ashland/63rd on the Green Line; O'Hare on the Blue Line; and Midway on the Orange Line, officials said.

The offer of exclusive naming rights at "L" and subway stations was supposed to help generate more revenue from nontraditional sources and help stave off fare hikes, officials had said.

The CTA’s search for corporate naming-rights sponsorships is being conducted through IMG, a business development consultant.

In 2010, the CTA signed a $3.9 million deal with Apple Inc. to refurbish the North/Clybourn Red Line stop, partly in exchange for a possible future naming-rights contract for the station, which is near an Apple Store. No naming-rights deal has been reached.

jhilkevitch@tribune.com
Twitter @jhilkevitch

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EMC, VMware to merge data and cloud app assets into new group

(Reuters) - EMC Corp, the world's leading maker of corporate data storage equipment, and its publicly-traded subsidiary, software maker VMware Inc, are planning to merge their data analytics and cloud application assets, EMC said on its website.

EMC said on Tuesday the companies expect to combine a number of divisions into the new group - called the Pivotal Initiative - by the second quarter of 2013 and said the specific operational structure will be determined then.

Paul Maritz, EMC's Chief Strategy Officer, will head the group, EMC said.

An EMC spokeswoman declined to elaborate on the plans.

The companies will provide an update on the details of the plans in the first quarter of next year, EMC said.

The move will combine EMC's data analytics division Greenplum and its Pivotal Labs group with VMware's vFabric, SpringSource and Gemstone units as well VMware's data analytics company Cetas and CloudFoundry, a cloud computing platform as a service.

This will affect about 600 employees from VMware and 800 employees from EMC, the company said.

Analysts said the realignment may eventually result in a spin-out of the new group.

"This is a very good move," said Kaushik Roy, a longtime EMC watcher who is a principal with Hercules Technology Growth Capital.

"Both companies have applications that are overlapping," he said, adding that "if things go well they may spin it off".

Tech analyst Alkesh Shah at Buckingham Research Group said the companies could decide on a partial spin-out of the unit in 2014/2015.

"This realignment should enable EMC to position itself more as a Cloud enabler while VMware can concentrate on its expanded strategy of the software-defined datacenter," Shah said.

(Reporting By Nicola Leske, editing by Nick Zieminski)

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Chiefs had given counseling to Belcher, girlfriend

KANSAS CITY, Mo. (AP) — Kansas City Chiefs officials knew that linebacker Jovan Belcher and his girlfriend were having relationship problems, and the team provided the couple with counseling in an effort to help, a police official said.

Belcher fatally shot Kasandra Perkins, 22, at their Kansas City home Saturday before shooting himself in the head in the Arrowhead Stadium parking lot in front of team officials who were trying to stop him, including general manager Scott Pioli and head coach Romeo Crennel.

Police Sgt. Richard Sharp told The Kansas City Star for a Tuesday story (http://bit.ly/SDwg9m ) that the couple had been arguing over relationship and financial issues for months and that the team had been "bending over backward" trying to help them. Sharp didn't specify how long the couple had been undergoing counseling.

When Belcher arrived at Arrowhead on Saturday, he encountered Pioli in the parking lot and told him the assistance the team had offered hadn't fixed the couple's problems and now "it was too late," Sharp said.

Pioli tried to persuade Belcher to put down his gun as Crennel and linebackers coach Gary Gibbs arrived at the scene.

Belcher thanked the men for everything the team had done for him and asked if Pioli and team owner Clark Hunt would take care of his daughter, The Star reported.

After that, Belcher reportedly said, "Guys, I have to do this."

"I was trying to get him to understand that life is not over," Crennel said Monday. "He still has a chance and let's get this worked out."

When Belcher heard police sirens approaching, he knelt behind a vehicle and shot himself in the head.

Investigators believe Belcher killed himself because he was distraught over shooting Perkins, Sharp said.

"He cared about her," Sharp said. "I don't think he could live with himself."

The night before the killings, Perkins had attended a concert downtown with friends and Belcher had been out at the Power and Light District, police said, while Belcher's mother was watching their 3-month-old baby. Detectives don't know exactly what the couple was arguing about but The Star reported that Belcher was upset that Perkins had stayed out so late.

Autopsies with toxicology tests were performed on both bodies but it could be weeks before results are known, police said.

Police spokesman Darin Snapp said Monday that Belcher's mother was given temporary custody of the couple's daughter.

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