Heat is on Groupon's Andrew Mason

In June 2011, Groupon Inc. Chief Executive Andrew Mason took the stage at a conference hosted by influential technology blog AllThingsD.

When co-executive editor Kara Swisher asked him whether an initial public offering was coming soon, he shot her what she later dubbed his "death stare."

The audience laughed and broke into applause.

The tone was decidedly more subdued last week, when Mason found himself at another tech industry confab, fielding questions from Business Insider's Henry Blodget, this time about whether Groupon's directors were going to fire him at their meeting the next day. AllThingsD had reported a day earlier, citing anonymous sources, that Groupon's board of directors was considering replacing Mason with a more experienced CEO to lead the Chicago-based daily deal company's turnaround.

The contrast between those two appearances underscores the swift and dramatic tumble of Mason's standing in tech and business circles within a few years. The young founder and CEO graced the cover of Forbes in 2010 and was named Ernst & Young's National Entrepreneur of the Year in the "emerging" category a year later.

Those accolades are a far cry from the cloud hanging over Mason, 32, and the company he launched four years ago. The leak to AllThingsD appeared to be deliberately timed to embarrass the executive, forcing him to field questions about his own competence at a scheduled appearance. This public hint of internal strife has fueled speculation around Mason's fate even as other public tech companies, such as Facebook and social game-maker Zynga, have also seen their stock prices drop since their IPOs.

Groupon's board met Thursday and took no action on the CEO's job, with company spokesman Paul Taaffe saying the board and management were "working together with their heads down to achieve Groupon's objectives."

Markets, however, seemed unconvinced. Groupon's beleaguered stock closed slightly higher Thursday but dropped 8.7 percent to $4.14 Friday. Shares debuted at $20 in November 2011.

Investors "want experience in leadership," said Raman Chadha, a clinical professor at DePaul University and co-founder of the Junto Institute for Entrepreneurial Leadership, a training program for startup founders. "And as a result, where Andrew's background was cool and sexy — and maybe even bordering on amusing — when Groupon was a pure startup, that's in the mindset of those of us who are observers and supporters … and fellow entrepreneurs. I think in the minds of the investor community and Wall Street, (it's different) because now the company has a lot more to lose. And if it's going to fall, it's going to fall really hard and really far."

For Chadha, Mason's unconventional pedigree as a music major-turned-startup-founder was part of the appealing, media-friendly story of Groupon's origin. The company was launched as recession-weary consumers were eager for deals, and it achieved rapid growth while earning a reputation for antics like decorating a conference room in the style of a fictional, possibly deranged tenant of Groupon's headquarters who had lived there before the startup moved into the offices.

The scrutiny of Groupon was tremendous given the "high-flying" nature of the company, said David Larcker, a corporate governance expert at the Stanford Graduate School of Business.

"You have a founder as CEO," he said. "He's the public face of the company. He has set the culture. All of that stuff."

That culture, driven in large part by Mason, turned from a lovable quirk to a major liability as the company ran into controversy over its poorly received Super Bowl ads in February 2011 and a series of missteps in the run-up to its IPO. Then, within months of its public debut, it disclosed an accounting flaw that forced it to restate financial results.

The larger question surrounding Groupon is the long-term viability of its basic business model. The company has been expanding offerings beyond its core daily deals, which have seen growth rates tail off. It's also dealing with a recession in the key European market as well as continued competition in the U.S.

But the biggest challenge facing Mason now is probably his own performance, or rather the perception that he isn't up to the task of running the global, publicly traded business worth billions that he founded but that now needs a turnaround. The stock is down 80 percent from its IPO price.

"It's an oft-told, oft-expected story that the genius entrepreneur steps aside when he or she succeeds at building a company big enough to need an experienced CEO," said Erik Gordon, a business professor at the University of Michigan.

The example Gordon and others cite is Google, which flourished after its co-founders Larry Page and Sergey Brin made way for a more seasoned executive in Eric Schmidt.

"The Google guys did it, and the results were spectacular," Gordon said.

Chadha said many startups tend to become more corporate in outlook, and less quirky, as they grow, because they bring in experienced executives from large companies that may have difficulty adapting to an entrepreneurial culture or reject it outright as not professional enough.

"I think that's where Google is very different," Chadha said. "(The company) sought out entrepreneurial, startup types — people that became part of their management team." That free-form element of Google's culture comes out in such things as the Google doodles — the offbeat tributes to notable anniversaries or famous people that pop up on the main search page.

Mason has acknowledged areas where Groupon needs to improve and has hired senior executives with experience at more mature tech companies. That hasn't always worked either. Margo Georgiadis, who came from Google as chief operating officer, returned to that company after five months.

Whether there's still room for Mason on the top management team remains to be seen. He was direct in his interview last week with Blodget, offering a minimum of jokes as he focused on discussing the job he and others at Groupon must accomplish.

"I care far more about the success of the business than I care about my role as CEO," he said.

A year ago, when he spoke to author Frank Sennett for his book "Groupon's Biggest Deal Ever," Mason was unapologetic about his management style.

"You only live once, and all I'm doing is being myself," he told Sennett. "I think a normal CEO is trying to appear in some way that's not actually them. That's probably not what they're like."

In the same book, former President and Chief Operating Officer Rob Solomon offered this blunt assessment of his ex-boss: "Andrew at thirty-five and forty is going to hate Andrew at twenty-nine and thirty; I guarantee it."

Melissa Harris and Bloomberg News contributed.

wawong@tribune.com

Twitter @VelocityWong

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Kansas City Chiefs linebacker kills girlfriend, self

Chiefs Player Involved in Murder-Suicide (Posted Dec. 1st, 2012)

Minutes after fatally shooting his girlfriend Saturday morning in the home they shared, Kansas City Chiefs linebacker Jovan Belcher drove five miles to the team's practice facility and parked out front.

The 25-year-old player got out of his car, and, while holding a gun to his head, spoke briefly with Chiefs coach Romeo Crennel and General Manager Scott Pioli, who had come outside to meet him. He thanked them for the opportunity to play in the NFL.

When police arrived on the scene, Belcher turned, walked about 30 feet west toward an empty parking lot, pulled the trigger and took his life.

Around the same time, Belcher's girlfriend, Kasandra Perkins, 22, was being taken to the hospital. She died about 30 minutes after she was shot. The couple had a 3-month-old daughter who was in the house at the time of the shooting but was in another room. It was Belcher's mother, who had recently moved into the home from New York, who called police.

“Think about your worst nightmare and multiply it by five,” Kansas City Mayor Sly James told the Kansas City Star after meeting with Pioli at the stadium. “Put somebody you know and love into that situation, and give them a gun, and stand three feet away from them and watch them kill themselves … . It's unfathomable.”

The Chiefs, who play host today to the Carolina Panthers, had scheduled a team meeting for 9:30 a.m. — about 11/2 hours before Belcher pulled into the parking lot — so there were about 20 people at the facility when he shot himself.

“The entire Chiefs family is deeply saddened by [Saturday's] events, and our collective hearts are heavy with sympathy, thoughts and prayers for the families and friends affected by this unthinkable tragedy,” Chiefs owner Clark Hunt said in a statement released by the team.

The horrific murder-suicide reverberated through the NFL on what is typically a quiet day of preparation for games.

“He was a great kid, one of my favorites,” said former Chiefs coach Todd Haley, now offensive coordinator for the Pittsburgh Steelers. “He hugged me after the game when we played them a couple weeks ago and was bragging about his new daughter.

“ ... It's crazy. In season, nothing like has ever happened, nothing of this magnitude that I can remember.”

Belcher and Perkins reportedly had a tumultuous relationship and, police said, had been fighting in the hour leading up to the shooting. Perkins had been out late Friday night, attending a Trey Songz concert. Haley said Belcher and Perkins had met through another Chiefs player.

On her Facebook page, Perkins, who is from Dallas, posted several pictures of the couple and their daughter, including one of Belcher gently cradling the baby. That photo's caption reads “My loves.”

Another picture features Belcher leaping over a player to get to Arizona's quarterback and is captioned “In LOVE with SUPERMAN.”

Among the “likes” on Belcher's Facebook page was one for “Male Athletes Against Violence,” a project founded at his alma mater, the University of Maine, aimed at raising awareness about the problem of male violence against women.

Belcher grew up in Long Island, N.Y., and was an outstanding wrestler. Maine was the only school that offered him a football scholarship. From there, he made the improbable rise from undrafted free agent in 2009 to starting inside linebacker for Kansas City.

“Coming from a small high school, a small college, you're looked down upon like you can't do some of the things that other kids are doing who went to bigger schools,” Belcher told the Star in 1999. “In my position, I've always been the underdog.”

He was second on the team with 87 tackles last season, and had 38 in 11 games for the 1-10 Chiefs this season.

“I am devastated and heartbroken,” Chiefs offensive lineman Jeff Allen wrote on Twitter. “I'm sending prayers out to everyone involved. Always show love and never be afraid to talk.”

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6 Futuristic Fireplaces to Keep You Warm This Winter

Who would have guessed — the futuristic-looking luxury fireplace industry is booming. Surprisingly, if you can dream it, it can be built. But, most of the time, it’ll cost you.

It seems we’re no longer just content to view the crackling Yule Log on our TVs. These fireplaces even move past the traditional stone and brick models commonly seen today. They run on gas and have controllers to turn them on or off. Some can even be operated from smartphone apps.

[More from Mashable: For Sale: Space Shuttle Xing Sign]

Check out the gallery and tell us which one is most appealing to you.

Uni Flame

The Uni Flame indoor or outdoor fireplace comes from modern home goods company Radius.

[More from Mashable: Portland Toymakers Create Ten-Legged Bamboo Companion [VIDEO]]

Click here to view this gallery.

Photo courtesy of iStockphoto, dszc

This story originally published on Mashable here.

Tech News Headlines – Yahoo! News

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Judge who named Starr to probe Clinton to retire

WASHINGTON (Reuters) – The conservative U.S. federal judge who helped to appoint Kenneth Starr as an independent counsel to investigate President Bill Clinton, prompting first lady Hillary Clinton to complain of a “vast right-wing conspiracy,” is planning a partial retirement in February.

The decision by Judge David Sentelle, an anchor of the conservative side of the federal judiciary, will open a fourth vacancy on a Washington, D.C., appeals court considered second in influence to the U.S. Supreme Court.

His semi-retirement, known as “senior status,” was disclosed on a judiciary website that monitors future vacancies.

President Barack Obama has faced difficulty persuading the Senate to confirm his nominees for the 11-judge U.S. Court of Appeals for the District of Columbia Circuit, which hears many cases arising from federal agencies.

Sentelle, who turns 70 next year, was a federal prosecutor and judge in North Carolina before President Ronald Reagan appointed him to the appeals court in 1987.

He was chief of a three-judge panel that in 1994 appointed Starr – a former appeals court judge – as the one to investigate President Bill Clinton over a real estate investment and other matters.

Starr’s investigation widened to include Clinton’s relationship with White House intern Monica Lewinsky, and led to Clinton’s impeachment by the House of Representatives.

Without mentioning Sentelle’s name, Hillary Clinton noted the judge’s ties to Republican senators in a 1998 national television interview in which she spoke about a conspiracy against her husband.

Starr released a statement calling her comments “nonsense.”

Known for direct, colorful questions to lawyers, Sentelle wrote a book, “Judge Dave and the Rainbow People,” based on his handling of a court case involving a gathering of hippies in the North Carolina mountains.

He did not immediately return a call to his chambers on Friday.

(Reporting by David Ingram; Editing by Howard Goller and David Storey)

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Opinion: A Health Insurance Detective Story

I’VE had a long career as a business journalist, beginning at Forbes and including eight years as the editor of Money, a personal finance magazine. But I’ve never faced a more confounding reporting challenge than the one I’m engaged in now: What will I pay next year for the pill that controls my blood cancer?

After making more than 70 phone calls to 16 organizations over the past few weeks, I’m still not totally sure what I will owe for my Revlimid, a derivative of thalidomide that is keeping my multiple myeloma in check. The drug is extremely expensive — about $11,000 retail for a four-week supply, $132,000 a year, $524 a pill. Time Warner, my former employer, has covered me for years under its Supplementary Medicare Program, a plan for retirees that included a special Writers Guild benefit capping my out-of-pocket prescription costs at $1,000 a year. That out-of-pocket limit is scheduled to expire on Jan. 1. So what will my Revlimid cost me next year?

The answers I got ranged from $20 a month to $17,000 a year. One of the first people I phoned said that no matter what I heard, I wouldn’t know the cost until I filed a claim in January. Seventy phone calls later, that may still be the most reliable thing anyone has told me.

Like around 47 million other Medicare beneficiaries, I have until this Friday, Dec. 7, when open enrollment ends, to choose my 2013 Medicare coverage, either through traditional Medicare or a private insurer, as well as my drug coverage — or I will risk all sorts of complications and potential late penalties.

But if a seasoned personal-finance journalist can’t get a straight answer to a simple question, what chance do most people have of picking the right health insurance option?

A study published in the journal Health Affairs in October estimated that a mere 5.2 percent of Medicare Part D beneficiaries chose the cheapest coverage that met their needs. All in all, consumers appear to be wasting roughly $11 billion a year on their Part D coverage, partly, I think, because they don’t get reliable answers to straightforward questions.

Here’s a snapshot of my surreal experience:

NOV. 7 A packet from Time Warner informs me that the company’s new 2013 Retiree Health Care Plan has “no out-of-pocket limit on your expenses.” But Erin, the person who answers at the company’s Benefits Service Center, tells me that the new plan will have “no practical effect” on me. What about the $1,000-a-year cap on drug costs? Is that really being eliminated? “Yes,” she says, “there’s no limit on out-of-pocket expenses in 2013.” I tell her I think that could have a major effect on me.

Next I talk to David at CVS/Caremark, Time Warner’s new drug insurance provider. He thinks my out-of-pocket cost for Revlimid next year will be $6,900. He says, “I know I’m scaring you.”

I call back Erin at Time Warner. She mentions something about $10,000 and says she’ll get an estimate for me in two business days.

NOV. 8 I phone Medicare. Jay says that if I switch to Medicare’s Part D prescription coverage, with a new provider, Revlimid’s cost will drive me into Medicare’s “catastrophic coverage.” I’d pay $2,819 the first month, and 5 percent of the cost of the drug thereafter — $563 a month or maybe $561. Anyway, roughly $9,000 for the year. Jay says AARP’s Part D plan may be a good option.

NOV. 9 Erin at Time Warner tells me that the company’s policy bundles United Healthcare medical coverage with CVS/Caremark’s drug coverage. I can’t accept the medical plan and cherry-pick prescription coverage elsewhere. It’s take it or leave it. Then she puts CVS’s Michele on the line to get me a Revlimid quote. Michele says Time Warner hasn’t transferred my insurance information. She can’t give me a quote without it. Erin says she will not call me with an update. I’ll have to call her.

My oncologist’s assistant steers me to Celgene, Revlimid’s manufacturer. Jennifer in “patient support” says premium assistance grants can cut the cost of Revlimid to $20 or $30 a month. She says, “You’re going to be O.K.” If my income is low enough to qualify for assistance.

NOV. 12 I try CVS again. Christine says my insurance records still have not been transferred, but she thinks my Revlimid might cost $17,000 a year.

Adriana at Medicare warns me that AARP and other Part D providers will require “prior authorization” to cover my Revlimid, so it’s probably best to stick with Time Warner no matter what the cost.

But Brooke at AARP insists that I don’t need prior authorization for my Revlimid, and so does her supervisor Brian — until he spots a footnote. Then he assures me that it will be easy to get prior authorization. All I need is a doctor’s note. My out-of-pocket cost for 2013: roughly $7,000.

NOV. 13 Linda at CVS says her company still doesn’t have my file, but from what she can see about Time Warner’s insurance plans my cost will be $60 a month — $720 for the year.

CVS assigns my case to Rebecca. She says she’s “sure all will be fine.” Well, “pretty sure.” She’s excited. She’s been with the company only a few months. This will be her first quote.

NOV. 14 Giddens at Time Warner puts in an “emergency update request” to get my files transferred to CVS.

Frank Lalli is an editorial consultant on retirement issues and a former senior executive editor at Time Warner’s Time Inc.

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Jewel parent says sale talks proceeding

Exterior of Jewel-Osco's first "Green Store" located at 370 N. Desplaines in Chicago. (Antonio Perez / November 29, 2012)

By Emily Bryson York




Chicago Tribune reporter

6:51 a.m. CST, November 30, 2012

Supervalu, the Minneapolis-based parent of Jewel-Osco said sale talks are proceeding after stock closed down more than 18 percent Thursday, to $2.28.

The beleaguered grocery chain was likely moving to combat reports that sale talks with suitor Cerberus Capital Management had stalled over funding.

"The company continues to be in active discussion with several parties," according to the statement. "There can be no assurance that this process will result in any transaction or any change in the Company's overall structure or its business model."

Supervalu, the third-largest U.S. grocery chain, has acknowledged sale talks since the spring. The company has been closing stores and cutting jobs as it has underperformed competitors like Dominick's parent Safeway and Kroger.

If Supervalu does not sell to Cerberus, it may have to restructure on its own or sell off individual assets, which could have big tax consequences, Bloomberg said.

Reuters reported last month that buyout firm Cerberus was preparing a takeover bid for Supervalu, the third-largest U.S. supermarket chain.

Cerberus officials could not be reached immediately for comment.

-- Reuters contributed to this report

In addition to Jewel, Supervalu owns Albertsons, Cub and other regional grocery chains.

SVU data by YCharts

SVU data by YCharts

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Male shot by police on South Side

An off-duty Chicago police officer who witnessed a crash during a police chase shot the driver of a stolen SUV after it struck a woman crossing the street late Thursday night, authorities said.

The SUV's drivert sustaine a non-life-threatening wound to his hand or arm, Fraternal Order of Police Spokesman Patrick Camden said.

The crash and subsequent shooting happened about 10 p.m. at the intersection of 37th Street and Dr. Martin Luther King Jr. Drive, two blocks south and three blocks east of the police department headquarters, in the city’s Bronzeville neighborhood, police said. 

A gray SUV was fleeing Wentworth District police northbound on King Drive when it made a left turn through a red light trying to head west on 37th Street, hit a light pole, hit a female pedestrian, and then hit a concrete wall that surrounds the massive three-story brick home on the corner, authorities said. 

An off-duty officer, on his way home from work with his girlfriend and his dinner, was stopped at the light facing south and saw the chase coming north up King Drive. His girlfriend was getting out of the passenger side about this time, Camden and police said. 

As the off-duty officer approached the stolen SUV, its driver tried to reverse back toward the officer, who fired twice, fearing that the SUV would hit his girlfriend. The SUV hit the officer’s black Yukon, Camden said, and its driver put the SUV into gear and tried to escape again. 

The officer fired two more times, hitting the man in the hand, who gave up and was taken to Mercy Hospital and Medical Center. 

The female pedestrian’s age wasn’t available, and she was taken to the University of Chicago Hospitals. The officer’s girlfriend, whose age wasn’t available, was also taken to Mercy Hospital and Medical Center. 

Police blocked King Drive in both directions between the 3500 block and 39th Street, and 37th Street was also blocked. The CTA rerouted buses in the area. 

pnickeas@tribune.com
Twitter: @peternickeas

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Gotye wins big at Australia’s Aria music awards

SYDNEY (AP) — Gotye has taken home album of the year at Australia‘s Aria music awards for his internationally acclaimed “Making Mirrors.”

The album features the Belgian-born, Australian-raised singer’s multiplatinum hit “Somebody That I Used to Know,” which was the top song of the year on digital music service Spotify.

Gotye won three other awards at Thursday night’s Arias, including best pop release, best Australian live act and best male artist.

The annual awards show is Australia’s version of the Grammys. This year’s gala featured appearances by Taylor Swift, Nicki Minaj and Russell Brand.

Fans shrieked with glee when British pop group One Direction was dubbed best international artist. The quintet thanked their Aussie supporters via video link.

Entertainment News Headlines – Yahoo! News

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Recipes for Health: Asian Chopped Salad With Seasoned Tofu ‘Fingers’ — Recipes for Health

Andrew Scrivani for The New York Times

I like to serve the baked seasoned tofu “fingers” warm on top of the salad. They are delicious cold, too; it is worth making up a separate batch for the refrigerator. If you have an assortment of vegetables leftover from Thanksgiving dinner, throw them in!

For the Tofu:

1/4 cup soy sauce

2 tablespoons mirin (sweet Japanese rice wine)

1 tablespoon rice vinegar

1 tablespoon minced or grated fresh ginger

1/2 teaspoon sugar

1 tablespoon Asian sesame oil

1 pound firm tofu

For the salad:

1 romaine heart, chopped

5 cups mixed chopped or diced vegetables such as:

Green or red cabbage

Celery (from the inner heart)

Red pepper

Radishes, sliced or chopped

1/4 cup dry roasted peanuts, coarsely chopped

1/4 cup chopped cilantro (more to taste)

1 serrano pepper, seeded and minced (optional)

For the dressing:

2 tablespoons fresh lime juice

1/4 cup tofu marinade, above

2 tablespoons canola or peanut oil

1/3 cup low-fat buttermilk or plain nonfat yogurt

1. Marinate the tofu: combine the soy sauce, mirin, rice vinegar, ginger and sugar in a 2-quart bowl. Whisk in the sesame oil and combine well. Drain the tofu and pat dry with paper towels. Slice into 1/3-inch thick slabs and cut the slabs in half lengthwise to get “fingers” approximately 1/3 inch thick by 3/4 inch wide. Blot each finger with paper towels. Add to the bowl with the marinade and gently toss to coat. Cover and refrigerate for 15 minutes to an hour, or for up to a day.

2. Meanwhile, heat the oven to 375 degrees and line a baking sheet with parchment. Lift the tofu out of the marinade and arrange the pieces on the parchment-covered baking sheet. Bake for 7 to 10 minutes, until the edges are just beginning to color and the marinade sets on the surface of the tofu. Remove from the heat.

3. In a large bowl, combine all of the salad ingredients. Whisk together the dressing ingredients and toss with the salad. If desired, transfer to a platter. Garnish with the tofu strips and serve.

Yield: Serves 4

Advance preparation: The chopped vegetables can be prepared up to a day ahead and refrigerated in a well covered container. The tofu marinade will keep for two days in the refrigerator. The baked seasoned tofu will keep for several days in the refrigerator.

Nutritional information per serving: 317 calories; 20 grams fat; 2 grams saturated fat; 8 grams polyunsaturated fat; 9 grams monounsaturated fat; 1 milligram cholesterol; 19 grams carbohydrates; 5 grams dietary fiber; 470 milligrams sodium (does not include salt to taste); 16 grams protein

Martha Rose Shulman is the author of “The Very Best of Recipes for Health.”

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U.S., state to fund battery research at Argonne

The U.S. Department of Energy has chosen Argonne National Laboratory, in suburban Lemont, to become America's capital for battery technology.

The announcement, to be made Friday, will include building a research facility to coordinate the clout and brainpower of five Department of Energy national laboratories, five universities and four private companies that independently have been working to advance battery technology.

Funded with $120 million from the DOE and a $35 million commitment from Gov. Pat Quinn, the Joint Center for Energy Storage Research is expected to develop lighter, cheaper batteries for everything from smartphones to electric vehicles that store more power and charge faster.

Chicago would be the fourth so-called Energy Innovation Hub that the DOE has established since 2010. The concept is modeled after research and development programs that spurred breakthroughs in the past, such as the Manhattan Project, which produced the first atomic bomb.

Other hubs have been devoted to modeling and simulating nuclear reactors, developing fuels from sunlight, and improving energy efficiency in buildings.

Like the space race of the 1960s, the U.S. is battling other nations to be at the forefront of a rapidly growing $42 billion worldwide market for rechargeable batteries that's growing 8.6 percent per year. That number comes from research and consulting firm Frost & Sullivan, which predicts the industry's growth rate and revenues to double by 2018.

A breakthrough in battery technology would have major implications for the auto, wind and solar industries. In particular, the wind and solar industries are looking for affordable batteries to store intermittent power so they can provide power even when the wind isn't blowing or the sun isn't shining.

Batteries that store electricity from the electrical grid are also in demand in countries where outages are frequent or in the case of natural disasters that black out cities for days.

"We're going to be the center of the universe when it comes to charging batteries and storing energy," Quinn told the Tribune in an interview Thursday.

Quinn committed the state to giving $5 million to the project through a capital construction budget he controls designed for job creation and said he will work with legislators to garner an additional $30 million in state funding to help with the building's construction.

The DOE will dole out the $120 million over five years. News of the hub was first reported by Crain's Chicago Business.

A successful battery hub in Illinois, Quinn said, would drive companies in the industry to set up shop nearby and encourage scientists and engineers to stay in the Midwest.

"These people would have the opportunity to change the world. It's transformational," Quinn said.

Earlier this week, Smith Electric Vehicles announced it would make battery-powered trucks in Chicago and hire about 200 workers. Wanxiang, a Chinese automotive company with North American headquarters in Chicago, is vying to purchase bankrupt Massachusetts-based battery-maker A123. As of last week Woodridge-based Palladium Energy became the largest independent battery pack-maker in the Americas and Europe after acquiring competitor MicroSun Technologies LLC.

The Chicago-based Clean Energy Trust, a nonprofit dedicated to accelerating the development of clean-energy businesses in the Midwest, will be responsible for ushering technology from Argonne to the marketplace with the help of Dow Chemical Co., Applied Materials Inc. and Johnson Controls Inc., which all have a financial interest in seeing batteries advance. Johnson, based in Milwaukee, also is vying for the A123 battery assets.

In addition to its own scientists, Argonne would be coordinating the research and development from Lawrence Berkeley, Pacific Northwest, Sandia and SLAC National Accelerator as well as students and researchers at Northwestern University, University of Chicago, University of Illinois at Chicago, University of Illinois at Urbana-Champaign and the University of Michigan.

"I think this is probably the greatest opportunity that we have seen in a long time to bring federal funding that's intended to promote the creation of new companies and jobs," said U.S. Rep. Dan Lipinski, D-Ill.

Tribune reporter Ted Gregory contributed.

jwernau@tribune.com

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