Steve Daniels
Crain's Chicago Business
Washington, United States
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Past articles by Steve:
Suburbanites paying far more for heat so far than Chicagoans
Nicor Gas, which serves most of suburban Chicago, is charging at least 55% more for natural gas than Chicago's Peoples Gas is through December. → Read More
Chase installing EV charging stations at two local branches
The suburban branches are among the first Chase locations nationwide to get the electric-vehicle chargers as part of a nationwide pilot. → Read More
Why Wall Street suddenly soured on Discover and other consumer lenders
Investors worry that rising inflation means fewer people will be paying their credit card bills on time. → Read More
Fifth Third's business lending numbers don't back up its positive Chicago story
Commercial loans in Illinois fell more than 20% in 2021. The bank says there are reasons for that, which mask the business gains it's making here more than two years after buying MB Financial. → Read More
Northern Trust's layoffs last year hit U.S. hardest
But headcount in Chicago remained relatively stable by the end of the year when the reductions were over and the company had resumed hiring. → Read More
Traditional Allstate agents are a shrinking breed
Insurance policies plateau as Allstate shifts from company agents to independents and direct sales channels. → Read More
Nicor blames Ukraine, supply disruptions for more gas hikes
Nicor Gas said supply disruptions in the U.S. and the Ukraine invasion contributed to raising the cost of gas in March as suburban households already face far higher heating bills than last winter. → Read More
Wintrust pumping $50 million more into venture capital
Seven years after launching Wintrust Ventures, the Rosemont-based bank is doubling the capital used for equity investments in early-stage companies. → Read More
State Farm joins the rate hike trend
Illinois' largest auto insurer says it's "not immune to industry trends" as it boosts rates 5%. Still, State Farm prices will remain below pre-pandemic levels. Other insurers can't say the same. → Read More
Hope fades for class-action lawsuits to force bribery refunds from ComEd
The utility thus far has been successful in getting big-dollar lawsuits thrown out of court. The odds of anything other than a modest refund in ComEd's bribery scheme appear slim. → Read More
Allstate is raising auto rates and wants everyone to know it
It's rare for a company to boast of how aggressively it's raising prices. But auto insurance isn't your typical business. And Allstate has long prized profitability above all. → Read More
Northern Trust exits the pro golf sponsorship biz
The 2021 Northern Trust tournament in New York was the Chicago-based bank's last after 14 years sponsoring pro events, including one memorably tumultuous one. → Read More
ComEd boosts spending plans well above smart-grid levels
As parent Exelon prepares to spin off ComEd's sister nuclear plants into a separate company, it unveiled its plans for the new, fully regulated Exelon. Ratepayers should be on alert. → Read More
What ComEd's rate hikes mean for business—and Illinois' economy
Of the $100 million in higher rates that just went into effect, $70 million is falling on nonresidential customers. That's not typical, but it's looking like it will be in the future. → Read More
Are bank overdraft fees finally on their way out?
Major actions by Chicago market leaders JPMorgan Chase and BMO Harris to reduce the number of times their customers pay when they overdraw their accounts will put pressure on the rest of the industry. → Read More
Northern Trust CEO sold $11 million in company stock this year
The boss of Chicago's largest locally headquartered bank cashed out more options in May and December than the number of shares he currently owns. → Read More
Why Exelon gave New York a better deal than Illinois
Illinois lacks the leverage New York used to extract a commitment to clean up shuttered plants within 20 years instead of 60. → Read More
ComEd rates to increase by $100 million next year
The ICC today approved the second of two rate hikes set at levels largely outside the agency's control under 2011 and 2016 state laws that ComEd admitted to engaging in bribery to enact. → Read More
How COVID turned State Farm into a lower-cost option
Why the nation's largest auto insurer isn't following suit as rivals reverse the deep price cuts that swept the industry early in the pandemic. Hint: There are bragging rights at stake. → Read More
Northern Trust to workers: Get back in the office—and get vaxxed
Chicago's largest locally headquartered bank is taking one of the most aggressive COVID-era, back-to-the-office stances yet. → Read More