Updated: December 13, 2012 10:23AM
Governors State University said that a $100,000 gift from CN Railroad, the first installment of which was received last week, will be used to equip a classroom at the University Park college for GSU’s supply chain management MBA program. Eight $2,500 fellowships for supply chain management students also will be funded through the gift.
CN’s gift to the university will be noted on a plaque in the classroom.
The railroad’s U.S. headquarters are in Homewood. A CN official said that qualified supply chain management workers are in constant demand by the railroad.
Standard Bank gets cash infusion
Hickory Hills-based Standard Bancshares Inc., owner of Standard Bank, said that institutional investors have agreed to provide $130 million in new capital to the bank and take an ownership position.
The infusion will enable the bank to repay its obligation to the federal government under the Troubled Asset Relief Program, Lawrence Kelley, Standard Bancshares’ president and chief executive, said in a news release.
Timothy Gallagher will remain the company’s chairman and his family will remain “a major shareholder,” the company said.