2 injured in CTA bus crash in Logan Square

A CTA bus traveling north on Kedzie crashed into several cars on both sides of the street. (Antonio Perez, Chicago Tribune / December 21, 2012)

By Deanese Williams-Harris




Tribune reporter

11:49 a.m. CST, December 21, 2012

A Chicago Transit Authority bus driver and a passenger were injured this morning when a bus crashed into several parked cars in the city's Logan Square neighborhood.

The accident happened about 8:40 a.m. near Diversey and Kedzie avenues, said police and a CTA spokeswoman.

Preliminary information stated the bus driver lost consciousness and crashed into several parked  cars.

The driver of the bus and a passenger were injured, according to the CTA spokeswoman.

One person was taken to Advocate Illinois Masonic Medical Center and the other was taken to Our Lady of the Resurrection Medical Center, said Fire Media spokesman Will Knight.

There was no immediate information available about their conditions.

The CTA was investigating the incident. 

dawilliams@tribune.com

Twitter: @neacynewslady

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State Street quits bidding for Credit Suisse ETF unit

State Street Global Advisors has dropped out of the bidding for Credit Suisse's $17.34 billion European exchange-traded fund business, according to two sources familiar with the situation.

As first reported by Reuters, BlackRock Inc and State Street Global Advisors, the money management arm of State Street Corp, were among the first round of bidders for Credit Suisse's European ETF business in early October.

The investment banking arm of Credit Suisse is representing the parent company in the deal, sources said.

BlackRock is still looking at the business. It could not be determined if other bidders are competing with BlackRock, according to the sources, who declined to be named because the talks are confidential.

Spokeswomen for Credit Suisse, State Street and BlackRock declined to comment.

Credit Suisse's decision to sell its ETF business comes as the company is closing or reducing other parts of its business to raise capital to meet new regulatory requirements.

In November, Credit Suisse said it was integrating its private banking and asset management divisions into a new wealth management unit.

With 58 ETFs, Credit Suisse is the fourth largest provider in Europe, with 5.5 percent market share as of November 30, according to ETFGI, a London-based ETF research firm.

BlackRock is the largest ETF provider in Europe, with more than 41 percent of the $318 billion European ETF market. Its 195 European iShares ETFs had $132 billion in assets.

State Street's 44 SPDR ETFs in Europe had $3.7 billion in assets - 1.2 percent of the European market.

For BlackRock, the addition of Credit Suisse's ETF business would be the second international ETF business the firm has made this year.

In March, BlackRock bought Toronto-based Claymore Investments, a Canadian ETF operation, from Guggenheim Partners LLC.

In October, BlackRock Chief Executive Laurence Fink told Reuters it was looking at a "fill-in ETF acquisition in another country.

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