The Biz Week That Was: Upscale Mexican fare, consignment shop, amusement park merger and jobless benefits among highlights
New restaurant brings authentic Mexican food to downtown Elgin
A new Mexican restaurant is welcoming diners to its stylish downtown Elgin digs. El Patio has been giving patrons a small taste of its offerings by being open on a limited basis since the summer while the finishing touches were being made on the kitchen. There is still a little work to be done behind the scenes, but the colorful and eclectic dining room is fully ready to give people a taste of Mexican culture. The restaurant, at 60 S. Grove Ave., is owned by three men originally from Mexico.
Cedar Fair, Six Flags are set to merge
Cedar Fair and Six Flags are merging to create an expansive amusement park operator with operations spread across 17 U.S. states and three countries. The combined company, worth more than $3.5 billion, will have 27 amusement parks, 15 water parks and nine resort properties in the U.S., Canada, and Mexico. It also will have entertainment partnerships and a portfolio of intellectual property, including Looney Tunes, DC Comics and Peanuts.
Consignment shop owners sell business
Opening a business in the middle of the Great Recession may not have seemed like the best idea, but a pair of stay-at-home moms with young kids had a plan. "We did a lot of research and consignment was recession proof," said Tricia Regan, who with Erin Heard opened ReNew Family Consignment in a Libertyville strip center in August 2009. "In times of economic trouble, the store actually does better." Within two years, the business at 1750 N. Milwaukee Ave., near Route 137, expanded into the unit next door when it became available.
Billionaire donates $9 million to nonprofit with area clinics
A chain of nonprofit health centers serving the Chicago area and some downstate communities has received a $9 million donation from a billionaire's philanthropic organization. Aunt Martha's Health and Wellness, which has facilities in Palatine, Carpentersville, Aurora, Chicago and elsewhere in the state, was awarded the money by MacKenzie Scott's Yield Giving program via the Chicago Community Trust, a foundation that, among other things, funnels contributions from donors to recipients.
U.S. applications for jobless benefits inch a little higher
The number of Americans applying for jobless benefits inched up last week but remains low by historical standards, even with the Federal Reserve's aggressive interest rate hikes meant to cool the economy and taper lingering inflation. Unemployment claims rose by 5,000 to 217,000 for the week ending Oct. 28, the Labor Department reported Thursday.