Hotness in the News, brought to you by SociaLifeChicago, is your daily intel for quick news stories to keep you up on what’s going on in Chicago and the world. With sports, celebrity, business, fashion news and our ‘Look of The Day.’ Make small talk, better.
“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ― Maya Angelou
CHICAGO NEWS
• The parent company of Federal Savings Bank has reached a definitive agreement to purchase troubled Baytree National Bank & Trust Co. in Lake Forest. Baytree has nearly $90 million in assets, employs about 13 today and 50 jobs will be added with the acquisition. [CRAINS CHICAGO]
•You’ll have to get your dose of gumbo and southern fare elsewhere as River North’s Heaven on Seven closed abruptly Monday. [EATER CHICAGO]
NATIONAL NEWS
• Elon Musk’s SpaceX attempt to launch a Falcon 9 rocket to the International Space Station Tuesday morning has been aborted at the last minute. The landing experiment would have involved putting the first stage of the two-stage rocket on a floating platform in the Atlantic Ocean. The launch team identified a last-minute problem with actuator drift, affecting the motors that control the second stage’s rocket thrust. [NBC NEWS]
• Ex Virgina Governor Robert F. McDonnell, convicted alng with his wife last September of public corruption in exchange for $177,000 in loans, vacations and luxury goods, will be sentenced today. Prosecutors are seeking a minimum of 10 years behind bars and about 450 people, relatives and friends of Mr. McDonnell, have written letters to Judge James R. Spencer, seeking leniency. [NY TIMES]
WORLD NEWS
• Villagers in the Indian-controlled portion of Kashmir are fleeing their homes because of artillery battles between Indian and Pakistani soldiers along the highly militarized border. More than 6,000 people have been placed in relief camps and another 4,000 have fled and staying with relatives. At least a dozen people have been killed in nearly a week after the shelling broke out. [MIAMI HERALD]
SPORTS
• Iman Shumpert and J.R. Smith of the NY Knicks have been traded to the Cavs as part of a 3 team trade with the Cavs and Oklahoma Thunder. The trade will eliminate Smith’s $6.5 million player option for next season, Shumpert’s $3.9 million dollar cap hold and acquiring a second-round pick. Dion Waiters will go to the Thunder, three players with nonguaranteed contracts — Alex Kirk and Lou Amundson from the Cavs and Lance Thomas from the Thunder. [ESPN]
BUSINESS
• Yves Béhar has developed an ultra-thin, sculptural curved 82-inch TV for Samsung’s new SUHD line. Béhar is the reigning king of consumer design at the moment: the Jawbone Up, Soda Stream carbonators, and Nivea’s packaging may be the best-known examples of his style. This announcement came during the annual Consumer Electronics Show (CES) taking place in Las Vegas Jan.6-9. [BUSINESS WEEK]
CELEBRITIES
• Cameron Diaz is a married lady! She wed fiancé Benji Madden in front of close friends and family Monday evening. The couple who began dating eight months ago and got engaged last month were set up by Nicole Richie, Benji’s sister-in-law. [US WEEKLY]
FASHION
• Coach announced that it has signed a definitive agreement with private equity firm Sycamore Partners to acquire Stuart Weitzman Holdings LLC.Over the last five years, Stuart Weitzman has experienced robust growth with sales growing at a 10% compounded annual rate driven by distribution, e-commerce and same store sales gains. Coach will make initial cash payments of approximately $530 million to Sycamore Partners. In addition, Coach will make up to $44 million in contingent payments to Sycamore Partners upon the successful achievement of selected revenue targets over the three years following the closing of the acquisition. [WWD]
LOOK OF THE DAY
• Sophia Bush
*Update: An earlier version mistakenly referred to Josh Madden as Cameron Diazs’ fiancé.
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