Business briefs

M.D.s' group splits from Wag clinics
Take Care Health Systems, a Walgreen-owned company that runs its 18 in-store health clinics, has parted ways with Oak Brook-based Advocate Health Partners doctors' group by mutual agreement, a Walgreen spokesman said. Starting Sept. 1, Take Care will contract with individual doctors to oversee nurse practitioners who staff the clinics. Some doctors who belong to the Advocate group will continue as private contractors.

Harper to head Macy's Home Stores
Macy's Home Stores have been the retailer's weakest performer for months, so Macy's on Monday announced a new president of the furniture and home-furnishings division. John T. Harper, director of stores at Macy's Midwest division in St. Louis, will become president and chief operating officer of the New York-based Macy's Home Store division on Aug. 6. He replaces Michael J. Osborn, 59, who will retire.

FINANCIAL CRIMES:
Biggest tax case thrown out of court
A federal judge dismissed charges Monday against 13 former KPMG employees in what the government had described as the largest criminal tax case in U.S. history, saying the prosecutors prevented them from presenting their defenses. U.S. District Judge Lewis A. Kaplan said the dismissal was necessary because the government coerced KPMG to limit and then cut off its payment of the one-time employees' legal fees.

Orbitz aims new Web site at small business
Orbitz Worldwide will announce today the launch of a new Web site targeting small businesses that will enable them to better manage their travel. The site will give small business owners access to corporate travel rates and include resources that will enable them to receive monthly executive travel summaries and monitor unused e-tickets by tracking their value and expiration dates. The dedicated site also will feature discounted hotels offering business resources and amenities.

6 YRS.
That's how long it has been since United Airlines last took applications for pilots. Monday the Chicago-based airline launched a pilot recruitment drive it said would be conducted entirely online. United announced last month that it would hire up to 100 pilots and bring back some pilots who have been on furlough. Interested applicants are instructed to go online to www.united.com/pilot.

Lear shareholders snub Icahn's bid
Shareholders of auto supplier Lear Corp. rejected a $2.9 billion buyout offer Monday from a firm led by billionaire investor Carl Icahn. Icahn's American Real Estate Partners LP had improved its offer in the past week to $37.25 a share, but some shareholders said Lear was worth far more.

With 10% of Target, Ackman seeks boost
Activist investor William Ackman disclosed a 9.6 percent stake in Target Corp., the second-biggest U.S. discount retailer, and said he plans to enter discussions with executives on ways to boost the stock price. Target has the "strongest operating management" in the retail industry and its stock is "undervalued," Ackman's Pershing Square Capital Management LP said in a regulatory filing Monday. Ackman, known for insisting on change at companies in which he takes a stake, didn't specify what actions he proposed for Target. Profit at the Minneapolis-based retailer has climbed six straight quarters.

RBS wants ABN AMRO in a big way
Royal Bank of Scotland Group Plc sweetened its $98.1 billion offer for ABN Amro Holding NV by increasing the cash portion, seeking to beat Barclays Plc to the world's biggest banking takeover. The bid excludes Chicago-based LaSalle Bank, whose sale to Bank of America was approved by the Dutch Supreme Court. Royal Bank, which is bidding with Banco Santander of Spain and Fortis of Belgium, offered $52.93 a share. Barclays' offer currently is valued at $47.86.

Ronco may sell for as little as $6 mil.
A California bankruptcy judge said private equity firm Marlin Equity Partners LLC can buy Veg-O-Matic seller Ronco Corp. for as little as $6 million in cash, subject to higher bids at auction. Founder Ron Popeil sold the company he founded in 1958 for about $56 million two years ago.

source:www.suntimes.com