BUSINESS BRIEF

Cook County had a 4.6 percent drop in foreclosure filings in the third quarter compared with a year earlier, thanks to a 9.6 percent drop in filings in Chicago and a 25.3 percent plunge in filings in southern Cook County. That's according to the latest report from Woodstock Institute. But the report revealed the six-county region showed an 18 percent increase in filings from the third quarter of 2008 and a 67 percent increase in filings from the second quarter of this year. The rate of filings is increasing in collar counties.

Archer Daniels Midland Co. said Tuesday its first-quarter profit tumbled 53 percent as the global recession dragged down demand for crops and ethanol, but demand is improving in some key markets. The Decatur-based company said it earned $496 million, or 77 cents per share, compared with $1.04 billion, or $1.62 per share, last year.

Kraft Foods said Tuesday that slower sales, lower retail food prices and the comparison with a gain a year ago helped cut its third-quarter profit 40 percent, but the company raised its profit forecast for the year. The nation's largest food maker reported it earned $824 million, or 55 cents per share for the quarter ended Sept. 30. That's compared with $1.36 billion or 91 cents per share last year, when the results included the Post Cereal business, which it has since sold.

Gerald D. Putnam Jr., former president of NYSE Euronext, cheated a partner out of $11 million stemming from the development of the electronic stock exchange Archipelago Holdings LLC, a jury decided. The jury in Chicago ruled Tuesday against Putnam and Stuart and MarrGwen Townsend, partners in Archipelago. Lewis J. Borsellino, operator of a day-trading business with Putnam more than a decade ago, alleged that Putnam and the Townsends developed what became Archipelago during that time, then moved to dissolve their partnership. Borsellino, who was awarded $11 million, had asked for $100 million in damages.