8 10 9 13

1 A little flexibility

President Obama said he will talk with Republicans on any issue — after they agree to a short-term deal to increase the debt ceiling and avert a default. Lynn Sweet reports from Washington. [Sun-Times]

2 Five things about Janet Yellen

As expected, Obama today will appoint Janet Yellen as president of the Federal Reserve. If confirmed she’ll take over as the primary steward of U.S. fiscal policy in January. Or maybe they won’t raise the debt ceiling, the whole economy will implode, and she’ll just stand there and shrug. [WSJ]

3 Treasury market is terrifying

Markets may seem unfazed by the shutdown — but only stock markets. And stock markets don’t say much about the economy. Treasury markets do. And treasury markets are freaking out. [Washington Post]

4 Shocker: He didn’t pay taxes, either

The case of former Chicago Board of Trade chairman Pat Arbor just keeps getting weirder (funnier?). First the Sun-Times learned he’d fled to Europe to avoid paying his alimony. Now Crain’s finds out he’s admitted to dodging taxes for 30 years. [Crain’s]

5 Test market

Bob Mariano knows he’s going to have to change up the product mix and prices to move his grocery stores into neighborhoods beyond the North Side. He’s doing some experimenting in his brand-new South Loop Mariano’s, where whole octopus and squid stand ready to capture the shopper from Chinatown. [Grid]

6 On Target

Speaking of groceries — and a pharmacy and a Starbucks — a 190,000-square-foot Target store opens today where Cabrini-Green’s William Green Homes once stood. [Crain’s]

7 Office space

Walgreen Co. sold six buildings in its Deerfield headquarters complex to Realty Income, with an agreement to lease back the space long term. [Tribune]

8 Guilty plea in Sentinel case

A key trader in one of the biggest financial fraud cases ever prosecuted in Chicago agreed to plead guilty in connection with the alleged $500 million fraud that ultimately forced Sentinel Management Group into bankruptcy in 2007. Sentinel’s website once claimed that since 1979 it had “never lost a dime” of its clients’ funds. [Sun-Times]

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