Wrigley agrees to buy Kraft’s candy brands

Wm. Wrigley Jr. Co. is taking a bite out of Kraft, buying up several of its candy brands including Life Savers and Altoids for $1.48 billion.

The deal announced Monday also covered the Creme Savers brand, as well as Trolli gummy candies and other regional brands in the United States, Europe, Indonesia and Thailand.

Kraft Foods, with $31 billion in sales, has decided to cede most of its confection brands to concentrate on what food executives call the “center” of the store, the traditional supermarket aisles stocked with Kraft cheese, Nabisco cookies and Maxwell House coffee.

Courts

Ex-Boeing CFO pleads guilty in hiring plot

Boeing Co.’s former chief financial officer pleaded guilty Monday to illegally hiring a top Air Force procurement officer who admitted giving the company preferential treatment on a $23 billion tanker contract.

Michael Sears, 57, of Chicago, pleaded guilty to a single count of aiding and abetting illegal employment negotiations.

Sears faces up to five years in prison when he is sentenced Jan. 21, but his lawyer, James Streicker, estimates that under federal sentencing guidelines Sears most likely faces, at worst, a prison term of six months.

Aviation

Boeing Co. to launch 777 freighter version

Boeing Co., responding to what it sees as improving world economic conditions, will offer a cargo version of its long-range, twin-engine 777 airplane in late 2008.

The Chicago-based aerospace company said Monday that it already had interest from several customers for the freighter version of the 777, but it declined to name the customers.

Boeing executives said Monday that the company saw a growing strength in the world economy and demand for cargo transport.

Publishing

Ousted Hollinger CEO faces another lawsuit

The Securities and Exchange Commission has filed a lawsuit against Conrad Black, the ousted CEO of Hollinger International Inc., and his top deputy David Radler, accusing the men of using the newspaper publisher as their “personal piggy bank” during a period of four years, the SEC announced Monday.

The SEC accused Black and Radler of engaging in a “fraudulent and deceptive scheme” to take cash and other assets from Hollinger International from 1999 to 2003, and then concealing their actions from the company’s shareholders.

The suit adds to the legal troubles for Black, who already is being sued by his company for the recovery of money they say he improperly diverted to himself and associates.