Drew Peterson transferred to Pontiac prison

Drew Peterson’s new life as an Illinois Department of Corrections inmate has begun.

Peterson was transferred this morning to the Stateville Correctional Center near Crest Hill, where he was evaluated for placement based upon factors such as his conviction, length of sentence, program needs and medical and mental health requirements.

Peterson stayed at Stateville only a few hours before being sent to his new home at Pontiac prison northeast of Bloomington, a maximum security facility that has a protective custody unit.  The assignment was based upon factors such as his conviction, length of sentence, program needs and medical and mental health requirements, per Illinois Department of Correction protocol.

Officials have not said whether he has a cellmate or if he will be in solitary confinement like he had been during his jail stay.

As part of his daily routine there, he will remain in his cell for most of the day, though he will be allowed out for meals and showers. Most inmates also get about five hours of recreation time outside per week, Illinois Department of Corrections spokesman Stacey Solano said.

The Will County jail – which had held Peterson in solitary confinement since his May 2009 arrest for his own safety – had the paperwork prepared for his transfer by the time he returned from his sentencing hearing Thursday, officials said.

The sheriff’s department, which oversees the jail, kept the former Bolingbrook police sergeant segregated from the general population there amid concerns that his high-profile case and law-enforcement background would make him a target of inmates looking to build tough-guy reputations.

Jail supervisors began preparing Peterson at 8:30 a.m. and he left without incident by 9:22 a.m., officials said.

Drew Peterson wanted to make sure he was heard when he was given one last chance to speak Thursday, shortly before being sentenced to 38 years in prison for the murder of his third wife, Kathleen Savio.

Declining to speak from the defense table, where there was no microphone, the former Bolingbrook police sergeant shuffled to the witness stand in his jail-issued blue scrubs and orange shoes and began quietly.

"I hope I don't aggravate the situation," he turned and told the judge. Then Peterson screamed into the microphone, "I did not kill Kathleen!" startling almost everyone in the courtroom.

"Yes, you did!" Savio's sister Sue Doman yelled back from the gallery, prompting Will County Circuit Judge Edward Burmila to order her out of the courtroom.

It was an odd end to a case replete with oddities and circuslike sideshows. For the next 40 minutes, Peterson cried, raged and whispered, challenged the state's attorney to look him in the eye and indulged in self-pity as he unleashed his multitudinous thoughts like a character in a Dostoevsky novel.

The 59-year-old said he expects to die in prison. Barring any successful appeal, he won't be eligible for release until he's 93.

Peterson claimed that lies and mistakes by witnesses, prosecutors and police led to his conviction, and made disparaging remarks about Savio's family, attorneys and others involved in the case. His defense attorneys called the monologue an impassioned plea for leniency, but prosecutors said it was proof that Peterson is a psychopath.

"When he got up on the stand and (in) that shrill, kinda-feminine screech that he didn't kill Kathy — that's the guy that killed Kathy," Will County State's Attorney James Glasgow said. "You got a glimpse into his soul."

But in describing himself on the stand Thursday, Peterson said he was maligned and misunderstood.

"Until this happened, I thought I was viewed as a great guy," Peterson said, giving a litany of public and private good deeds before announcing he planned to tattoo the phrase "No good deed goes unpunished" across his shoulders.

"The state took an accident and staged a homicide," Peterson said, before turning to the judge. "Can I get some water?"

Once refreshed, Peterson said he had upheld the oath he swore when he became a police officer.

"I always took my job seriously, I never violated the public trust," he said, his voice husky with emotion before quoting one of the Ten Commandments. "And I never beared false witness against anyone."

Read More..

Well: Savory Pie Recipes for Health

Pie is an indulgence often saved for holiday time. But this week Martha Rose Shulman shows us how to bake a pie and eat it too, without the guilt. She offers savory vegetable pies, showcased in whole grain crusts. She writes:

This week I slowed down and made pies: savory ones filled with vegetables … I used a number of different crusts for my winter pies. My favorite remains the whole wheat yeasted olive oil crust that I have used before in this column, but I also worked with a simple Mediterranean crust made with a mix of whole wheat flour, all-purpose flour and olive oil. And for those of you who are gluten-free, I made another foray into gluten-free pastry and produced one I liked a lot, which was a mix of buckwheat flour, millet flour and potato starch. It had a strong nutty flavor that worked well with a very savory, very vegan, tofu and mushroom “quiche.” They are all simple to mix together and easy to roll or press out. And if you don’t feel like dealing with a crust, just use Greek phyllo. The important things, after all, are the savory vegetables inside.

Here are recipes for a pie crust and four savory winter vegetable pies.

Whole Wheat Mediterranean Pie Crust: A simple Mediterranean crust made with a mix of whole wheat flour, all-purpose flour and olive oil.

---

Mixed Greens Galette With Onions and Chickpeas: A tasty way to use bagged greens in a dish with Middle Eastern overtones.

---

Goat Cheese, Chard and Herb Pie in a Phyllo Crust: A garlicky mix of greens and your choice of herbs inside a crispy phyllo crust.

---

Tofu Mushroom ‘Quiche’: A vegan dish with a deep, rich flavor.

---

Winter Tomato Quiche: Canned tomatoes can be used in the off season for a delicious dinner.

---

Read More..

16 airport investors show interest in Midway

An international array of airport investors and operators have shown interest in developing bids to privatize Midway Airport, the city announced Friday evening.

Sixteen parties responded to the city's "request for qualifications" by a 4 p.m. deadline, indicating they had interest in leasing, operating and improving the Southwest Side airport, the nation's 26th busiest, with about 9 million passengers passing through annually.

"The response generated from the  ... process is encouraging and provides the city with a sense of the strong level of interest in a potential lease," said Lois Scott, the city's chief financial officer. "We must evaluate fully if this could be a win for Chicagoans."

The city and its advisers will review the responses to identify qualified potential bidders.

Of the 16, seven had both the operational and financial capabilities sought in the RFQ. The city identified them as:

-- ACO Investment Group, an investor and operator with global airport experience.

-- AMP Capital Investors Limited, a manager and investor in airports, including Melbourne Airport in Australia and Newcastle Airport, in Britain.

--  Corporacion America Group, an Argentina-based airport operator with 49 airports in seven countries.

-- Global Infrastructure Partners (GIP), which is the controlling investor and active manager of London City Airport, London Gatwick Airport and Edinburgh Airport.

--Great Lakes Airport Alliance, which is a partnership of Macquarie Infrastructure and Real Assets and Ferrovial. Its airport operations include London's Heathrow, Brussels Airport and Copenhagen Airport.

-- Incheon International Airport and Hastings Funds Management, which is the sole owner and operator of Incheon International Airport in South Korea and an investor with 16 airport-related investments.

--  Industry Funds Management and Manchester Airport Group, an investor with interests in 13 airports, including Melbourne Airport and Brisbane Airport, both in Australia, and operator of Manchester Airport and East Midlands Airport, in Britain.

If the city moves forward and seeks proposals, a privatization plan could be submitted to the City Council this summer.

This is the second time Chicago has looked at privatizing Midway. A 99-year lease that would have brought in $2.5 billion died in 2009 when the financial markets froze. That deal had drawn six serious bidders.

Mayor Rahm Emanuel has said any second attempt would have to provide city taxpayers with a better deal than the widely criticized 75-year agreement to privatize parking meter operations, carried out during former Mayor Richard Daley's administration. Proceeds from the earlier deal were used to plug operating deficits, and meter rates rose sharply.

This time, proposed leases must be less than 40 years, which locks in the city for a shorter period.

Rather than making only an upfront payment, the private operator also must share revenue with the city on an ongoing basis. Initial proceeds would be used to pay down debt issued since 1996 to rebuild the airport, the mayor's office said. There is about $1.4 billion in outstanding debt.

Longer term, cash flow would be directed to city infrastructure needs. The mayor has pledged proceeds would not be used to pay for city operations.

kbergen@tribune.com

Read More..

Retired general: National Guard could help curb Chicago violence

To reduce the homicides and shootings plaguing Chicago streets, elected officials should consider calling on the state and federal governments for help, even the National Guard if necessary, said a retired Army lieutenant general who spearheaded the military response after Hurricane Katrina.

"Just like we do with any disaster. When the tornado comes, or the floods come, the federal government comes in to help," Russel L. Honore said Thursday at a news conference in Chicago.

"Let's not let this be about pride. 'We are big ol' Chicago, we are too proud, we can handle this.' Maybe you can't handle it. If you need help, get the federal government here. But let's control the streets so children and elderly people can be in a safe community."

Honore, known for his no-nonsense leadership, was in Chicago as part of The HistoryMakers project to record and archive the stories of African-American military leaders. The nonprofit organization houses the largest collection of recorded histories of African-Americans.

As part of his visit, Honore met with high school students to discuss his career.

At the news conference at the Chicago Military Academy in the Bronzeville neighborhood, Honore spoke out against the gun violence that affects the lives of so many of the students.

Honore was mild in his tone and fell short of demanding action. Instead he suggested a strategy he thinks could work.

To tackle the violence here, Honore said, the state police and other law enforcement agencies could lend a hand to local police. And the National Guard could take over routine duties, patrolling the streets and handling traffic, while police concentrate their efforts on solving crimes and increasing their presence in troubled neighborhoods.

Last year, Chicago homicides exceeded 500 for the first time since 2008, a 16 percent jump from 2011. And January saw the most homicides for that month since 2002. In addition, the shooting death of Hadiya Pendleton has placed an international spotlight on the random violence in Chicago because the 15-year-old honors student with so much promise was killed less than a mile from President Barack Obama's home.

To reduce the violence, more attention needs to be paid to poor communities infested with drugs, Honore said.

"Trust me, we can tap this down," Honore said of the shootings. "It would take a commitment, and it's not going to be popular. Many people are going to say why are you bringing that to my community? (But) do you want law enforcement or do you want people shooting day and night and destroying the lives of innocent people like the little girl who lost her life here a few weeks ago?"

Rondell Freeman, a 17-year-old junior at Prologue Early College High School who was among the students to hear Honore's remarks, said he feels afraid on the streets or even visiting the local park in his Garfield Park community. Honore's suggestion to bring in state police and National Guard seems radical, but it may be necessary, he said.

"We should do whatever it takes to end the violence, so we won't have to feel scared," he said. "These kids have guns. We need experienced people that can stop them."

When he's not working as a Chicago police officer, Richard Wooten said he's in the neighborhoods — Auburn Gresham, West Chesterfield and Chatham — helping residents develop neighborhood watch groups.

"Crime in Chicago is just running rampant," said Wooten, who does community work as part of his own organization, the Gathering Point Community Council. He attended Honore's news conference.

"This is going to require more than just the Chicago Police Department," he said. "We are in a state right now where we need not only to get the community activated and mobilized and dealing with the issues in their community, but somewhere along the way, we're going to have to tap into some federal funding."

lbowean@tribune.com

Read More..

Living With Cancer: Arrivals and Departures

After being nursed and handed over, the baby’s wails rise to a tremolo, but I am determined to give my exhausted daughter and son-in-law a respite on this wintry evening. Commiserating with the little guy’s discomfort — gas, indigestion, colic, ontological insecurity — I swaddle, burp, bink, then cradle him in my arms. I begin walking around the house, swinging and swaying while cooing in soothing cadences: “Yes, darling boy, another one bites the dust, another one bites the dust.”

I kid you not! How could such grim phrases spring from my lips into the newborn’s ears? Where did they come from?

I blame his mother and her best friend. They sang along as this song was played repeatedly at the skating rink to which I took them every other Saturday in their tweens. Why would an infatuated grandma croon a mordant lullaby, even if the adorable one happily can’t understand a single word? He’s still whimpering, twisting away from me, and understandably so.

Previously that day, I had called a woman in my cancer support group. I believe that she is dying. I do not know her very well. She has attended only two or three of our get-togethers where she described herself as a widow and a Christian.

On the phone, I did not want to violate the sanctity of her end time, but I did want her to know that she need not be alone, that I and other members of our group can “be there” for her. Her dying seems a rehearsal of my own. We have the same disease.

“How are you doing, Kim?” I asked.

“I’m tired. I sleep all the time,” she sighed, “and I can’t keep anything down.”

“Can you drink … water?” I asked.

“A little, but I tried a smoothie and it wouldn’t set right,” she said.

“I hope you are not in pain.”

“Oh no, but I’m sleeping all the time. And I can’t keep anything down.”

“Would you like a visit? Is there something I can do or bring?” I asked.

“Oh, I don’t think so, no thanks.”

“Well,” I paused before saying goodbye, “be well.”

Be well? I didn’t even add something like, “Be as well as you can be.” I was tongue-tied. This was the failure that troubles me tonight.

Why couldn’t I say that we will miss her, that I am sorry she is dying, that she has coped so well for so long, and that I hope she will now find peace? I could inform an infant in my arms of our inexorable mortality, but I could not speak or even intimate the “D” word to someone on her deathbed.

Although I have tried to communicate to my family how I feel about end-of-life care, can we always know what we will want? Perhaps at the end of my life I will not welcome visitors, either. For departing may require as much concentration as arriving. As I look down at the vulnerable bundle I am holding, I marvel that each and every one of us has managed to come in and will also have to manage to go out. The baby nestles, pursing his mouth around the pacifier. He gazes intently at my face with a sly gaze that drifts toward a lamp, turning speculative before lids lower in tremulous increments.

Slowing my jiggling to his faint sucking, I think that the philosopher Jacques Derrida’s meditation on death pertains to birth as well. Each of these events “names the very irreplaceability of absolute singularity.” Just as “no one can die in my place or in the place of the other,” no one can be born in this particular infant’s place. He embodies his irreplaceable and absolute singularity.

Perhaps we should gestate during endings, as we do during beginnings. Like hatchings, the dispatchings caused by cancer give people like Kim and me a final trimester, more or less, in which we can labor to forgive and be forgiven, to speak and hear vows of devotion from our intimates, to visit or not be visited by acquaintances.

Maybe we need a doula for dying, I reflect as melodious words surface, telling me what I have to do with the life left to be lived: “To love that well, which thou must leave ere long.”

“Oh little baby,” I then whisper: “Though I cannot tell who you will become and where I will be — you, dear heart, deliver me.”

---

Susan Gubar is a distinguished emerita professor of English at Indiana University and the author of “Memoir of a Debulked Woman,” which explores her experience with ovarian cancer.

Read More..

United takes Dreamliner off schedule until June

The All Nippon Airways Dreamliner 787 arrives at Mineta San Jose International Airport. (Gary Reyes/San Jose Mercury News/MCT / January 22, 2013)

Staff and wire report

1:35 p.m. CST, February 21, 2013

The parent company of United Airlines says it is taking the Boeing 787 off its schedule through June 5 for all but one of its routes.

United Continental Holdings Inc. said it still plans to use the 787 on its flights between Denver and Tokyo's Narita airport starting May 12. It had aimed to start that route on March 31.

United, currently world's largest airline and the only U.S. customer for the 787, said the timing of that reinstatement will depend on resolution of the Dreamliner's current issues.

The 50 Dreamliners in commercial service were grounded worldwide last month after a series of battery-related incidents including a fire on board a parked plane in the United States and an in-flight problem on another jet in Japan. United had only been flying the plance since November.

Sources told Reuters earlier this week that Boeing Co. has found a way to fix the battery problems that involves increasing the space between the lithium ion battery cells.

Read More..

Jackson Jr.: 'Tell everybody back home I'm sorry I let 'em down'

WASHINGTON—

— It was the kind of runaway spending usually reserved for someone with newfound riches — a holistic retreat, a cruise, pricey restaurant tabs, flat-screen televisions and even a pair of stuffed elk heads —and former Congressman Jesse Jackson Jr. admitted Wednesday that he conspired with his then-Chicago alderman wife to pay for it all with campaign money and cover it up.

In two quiet federal court appearances just hours apart, the power couple who once sought to write a new chapter in Chicago political history instead became the latest entry in an infamous culture of public corruption. Jackson pleaded guilty to conspiring with his wife, Sandi, to siphon campaign funds for personal use, and she pleaded guilty to not reporting most of the take as income on the couple's tax returns.

A sullen Jackson gave his wife a peck on the cheek at his own hearing and at times appeared to wipe tears from his eyes as he told a judge he was guilty of misusing about $750,000 in campaign money. And with that, a political star once seemingly destined for the U.S. Senate or the Chicago mayor's office dissolved once and for all.

"Tell everybody back home I'm sorry I let 'em down, OK?" Jackson told a reporter as he left the courtroom.

As part of Jackson's plea agreement, prosecutors filed a 22-page statement filled with stunning details of how the Jacksons used his congressional campaign fund to fuel a lavish lifestyle. Jackson admitted that together the couple used campaign credit cards to buy personal items, tapped campaign funds to pay those bills, sometimes arranged for their campaign treasurer to make purchases for them, filed falsified campaign-disclosure forms to hide their actions and ultimately understated their personal income for tax purposes.

Both Jacksons face the prospect of time in federal prison.

As part of the plea deal, prosecutors and Jesse Jackson's defense agreed that sentencing guidelines in the case call for a term of between 46 and 57 months, but the sides reserved the right to argue for a sentence above or below that range when he is sentenced June 28.

Sandi Jackson is to be sentenced days later on July 1 and may face from one to two years. Among the conduct in her case, prosecutors said, was failing to report that money in her aldermanic campaign fund was used for personal expenses.

Experts said the agreement for Jesse Jackson leaves room for the defense to argue for probation and use his mental health as a mitigating factor.

Jackson removed himself from the public spotlight last June after winning a primary election in March. His medical leave was initially attributed to "exhaustion." It was later revealed that he had been treated in the Sierra Tucson facility in Arizona and the Mayo Clinic in Minnesota and was diagnosed with bipolar disorder.

He resigned in November amid the swirling probe, ending a 17-year congressional career just two weeks after winning re-election.

U.S. District Court Judge Robert Wilkins asked Jackson during the hearing whether he understood what was happening.

"Sir, I've never been more clear in my life," Jackson answered.

At a news conference after the hearing, Jackson Jr.'s attorney, Reid Weingarten, said Jackson's health problems contributed to his crimes, hinting it may be an issue raised in a sentencing hearing.

"It turns out that Jesse has serious health issues. ... Those health issues are directly related to his present predicament," Weingarten said. "That's not an excuse, that's just a fact."

Documents filed with the plea agreement lay out a steady pilfering of Jackson's campaign fund during a period of nearly seven years dating to August 2005.

Six people identified by letters of the alphabet — Persons A through F —- were involved in various aspects of the crimes, prosecutors said, and have not been granted immunity in the case. They include two former campaign treasurers, an Alabama businessman who issued a check to pay down a Jackson credit card balance and a Chicago consultant.

In January 2006, Jackson personally opened a bank account under the name "Jesse Jackson Jr. for Congress," and the following year withdrew $43,350 he used to buy a gold Rolex watch, prosecutors said. In 2007, he was also withdrawing funds to pay down personal credit cards, according to case documents.

After that year, the spending went into high gear.

"These expenditures included high-end electronic items, collector's items, clothing, food and supplies for daily consumption, movie tickets, health club dues, personal travel, and personal dining expenses," prosecutors said. When he was charged last week, Jackson was accused of buying, among other items, a fedora that belonged to pop superstar Michael Jackson, an Eddie Van Halen guitar and a football signed by U.S. presidents.

Read More..

Jennifer Hudson, Zeta-Jones to sing in Oscars musical tribute

LOS ANGELES (Reuters) – Oscar winners Russell Crowe, Jennifer Hudson and Catherine Zeta-Jones will perform at the Academy Awards in a tribute to the resurgence of big-screen musicals, organizers said on Wednesday.

The performance, which will also feature Oscar nominees Anne Hathaway and Hugh Jackman from “Les Miserables,” is part of the several musical acts at the annual Hollywood awards on Sunday.

“We are pleased to have been able to amass so much talent to create the celebration of musicals of the last decade that we envisioned,” Oscars producers Neil Meron and Craig Zadan said in a statement. “We are thrilled that so many talented actors have agreed to bring our vision to life.”

Musicals have had a revival over the past decade in Hollywood. Death row drama “Chicago” won six Academy Awards in 2003, including top prize Best Picture, and girl-group drama “Dreamgirls” scored two Oscars in 2007 while television’s “Glee” has won six Emmy awards since 2010.

R&B singer Hudson won a Best Supporting Actress Oscar in 2007 for her role in “Dreamgirls” and Zeta-Jones won the same award for “Chicago” in 2003.

Crowe, who stars in “Les Mis,” won an Oscar for Best Actor in 2001 for his role in the Roman drama “Gladiator.”

“Les Mis” scored eight Oscar nominations, including Best Picture and Best Original Song. “Les Mis” actors Amanda Seyfried, Helena Bonham Carter, Eddie Redmayne, Aaron Tveit and Samantha Banks will also join the musical tribute.

Singers Adele, Shirley Bassey, Norah Jones and Barbara Streisand will also perform at the awards show.

Adele is nominated for an Oscar for her song “Skyfall” in the James Bond film of the same name, and Jones will perform Oscar-nominated song “Everybody Needs a Best Friend” from “Ted.”

(Reporting by Eric Kelsey; Editing by Jill Serjeant and Doina Chiacu)

Movies News Headlines – Yahoo! News

Title Post: Jennifer Hudson, Zeta-Jones to sing in Oscars musical tribute
Url Post: http://www.news.fluser.com/jennifer-hudson-zeta-jones-to-sing-in-oscars-musical-tribute/
Link To Post : Jennifer Hudson, Zeta-Jones to sing in Oscars musical tribute
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Well: Caffeine Linked to Lower Birth Weight Babies

New research suggests that drinking caffeinated drinks during pregnancy raises the risk of having a low birth weight baby.

Caffeine has long been linked to adverse effects in pregnant women, prompting many expectant mothers to give up coffee and tea. But for those who cannot do without their morning coffee, health officials over the years have offered conflicting guidelines on safe amounts during pregnancy.

The World Health Organization recommends a limit of 300 milligrams of caffeine a day, equivalent to about three eight-ounce cups of regular brewed coffee. The American College of Obstetricians and Gynecologists stated in 2010 that pregnant women could consume up to 200 milligrams a day without increasing their risk of miscarriage or preterm birth.

In the latest study, published in the journal BMC Medicine, researchers collected data on almost 60,000 pregnancies over a 10-year period. After excluding women with potentially problematic medical conditions, they found no link between caffeine consumption – from food or drinks – and the risk of preterm birth. But there was an association with low birth weight.

For a child expected to weigh about eight pounds at birth, the child lost between three-quarters of an ounce to an ounce in birth weight for each 100 milligrams of average daily caffeine intake from all sources by the mother. Even after the researchers excluded from their analysis smokers, a group that is at higher risk for complications and also includes many coffee drinkers, the link remained.

One study author, Dr. Verena Sengpiel of the Sahlgrenska University Hospital in Sweden, said the findings were not definitive because the study was observational, and correlation does not equal causation. But they do suggest that women might put their caffeine consumption “on pause” while pregnant, she said, or at least stay below two cups of coffee per day.

---

This post has been revised to reflect the following correction:

Correction: February 20, 2013

An earlier version of this article described incorrectly the relationship between the amount of caffeine a pregnant woman drank and birth weight. For a child expected to weigh about eight pounds at birth, the child lost between three-quarters of an ounce to an ounce in birth weight for each 100 milligrams of average daily caffeine intake by the mother, not for each day that she consumed 100 milligrams of caffeine.

Read More..

OfficeMax, Office Depot agree to merger

Office Depot to buy Office Max as an attempt to compete with Staples.

Office Depot Inc. and Naperville-based OfficeMax Inc. confirmed Wednesday that they're planning to merge but left some key questions about the deal unanswered.

The all-stock deal calls for Office Depot to issue 2.69 new shares of common stock for each outstanding common share of OfficeMax. But officials declined to say where the newly merged company would be headquartered, who would sit in the CEO seat or even what it would be called.

OfficeMax CEO Ravi Saligram and Office Depot CEO Neil Austrian presented a united front during a Wednesday conference call with analysts, taking turns to explain the specifics of the deal.

"It takes two to tango," Saligram said. "Lo and behold, Neil and I have decided to tango."

The announcement of a merger, which Saligram said would "create a stronger, more global, more efficient competitor," put to rest years of speculation about a deal. The merger would unite the No. 2 company in the stationery and office supplies industry, Boca Raton, Fla.-based Office Depot, with the No. 3 company, OfficeMax, headquartered off Interstate 88.

A merger between the two chains "has made sense for years," Credit Suisse analyst Gary Balter wrote in a note this week.

Market leader Staples also would benefit from a merger, BB&T Capital Markets analyst Anthony Chukumba said.

"Clearly, you can't make this deal work unless you close a bunch of stores," he said. "Store rationalization is long overdue, and Staples will clearly benefit from just having fewer stores to compete with."

OfficeMax, with about 29,000 employees, operates 978 stores, including 10 in the Chicago area. Office Depot has about 39,000 employees and operates 1,675 stores, including seven in the Chicago area.

The two CEOs wouldn't say how many stores would be closed, but Balter has predicted about 600.

If the merger is completed, the company's board would have an equal number of directors chosen by Office Depot and OfficeMax. Based on Wednesday's stock closing price, the deal's value is about $976 million.

The combined company would have $18 billion in sales and achieve $400 million to $600 million in savings over three years, according to company officials.

Office Depot shareholders would own about 54 percent of the company and OfficeMax shareholders 46 percent.

It was not clear, though, whether those stockholders would be satisfied with the deal. One of OfficeMax's largest shareholders, Neuberger Berman, said this week that it would support a deal, depending on the terms.

The deal also is subject to approval by regulatory agencies, including the Federal Trade Commission.

Officials declined to say who would lead the combined business or where it would be located once the "merger of equals" is completed, likely by the end of the year.

"During the appropriate times ... our board will make the right decision," OfficeMax's Saligram said. "Now, we're independent companies, and we've got to go through lots of processes."

Saligram and Austrian will be considered to lead the company, but until a leader is chosen, they will remain in their positions.

"From the time we started talking, Ravi and I have grown very fond of each other. It's very clear we can work well together," Austrian said.

Their proposed partnership didn't begin well. The announcement of the planned merger was buried in an earnings release posted prematurely on the Office Depot website early in the morning, then quickly removed. The companies recovered, and about 8:30 a.m., they issued a joint statement announcing the proposed merger.

The mishap will likely be investigated by stock exchanges and regulatory organizations, according to a Chicago financial attorney.

"I am highly confident that the New York Stock Exchange, the Nasdaq and the Securities and Exchange Commission will be looking very closely at who pulled the trigger, who knew about this, and was this in good faith?" James McGurk said.

McGurk said he was not suggesting wrongdoing.

"When you think about it, you have two boards, lots of investment advisers, lawyers, and deals break down at the last minute. Are there lots of ways it could happen? Sure," he said.

OfficeMax shares closed Wednesday down 91 cents, or 7 percent, at $12.09. Shares of Office Depot closed down 84 cents, or nearly 17 percent, at $4.18.

Reuters contributed.

crshropshire@tribune.com

Twitter @corilyns

Read More..