Showing posts with label chicago. Show all posts
Showing posts with label chicago. Show all posts

Monday, January 7, 2013

It was the best of times...

Chicago man wins the lottery, dies a month later - the medical examiner determined it was a natural death. After pressure from relatives the case is reopened 6 months later. Turns out the cause of death was actually a lethal dose of cyanide. Scary stuff.

http://www.cnn.com/2013/01/07/justice/illinois-lottery-death/?hpt=hp_t1

Thursday, December 27, 2012

Quite the year for Chicago politics

I did not fully appreciate how eventful of a year this has been Chicago

http://www.nbcchicago.com/blogs/ward-room/Top-10-Stories-of-2012-184958741.html

1. Given the extreme lack of credibility / common sense in the Republican party right now I was glad to see Obama reelected. Plus he's probably further to the right than most would care to admit.

2. The teachers strike really put Chicago front and center in the national debate on pensions and public sector employees. Many people forget that despite a relatively light tax burden at the national level people in high-tax locales such as Chicago, New York and California face overall tax burdens comparable to many European countries. In these cities the non-federal taxes often exceed federal taxes.

3. I was pretty shocked when Jesse Jackson was reelected but I am glad he choose to resign. If he is truly not fit for work then it would be a huge disservice to his constituency to stay in Congress.

4. The pension crisis is one of the biggest reasons I'm hesitant to buy a condo, even if they double property taxes there's still a hole in the state and local pensions. Now the scary part I did a quick back of the envelope calculation suggests that if they double property taxes Chicago home prices will drop by ~20%. Admittedly it wouldn't be an instant drop but rather an "under-performing inflation" type of stagnation. In any case I'd rather not have my money tied up in a Chicago condo right now.

5. Its so strange how for me Chicago feels like a very safe city, but for thousands and thousands of others its not. The murder stats suggest that being in a Chicago gang is more dangerous than being a US soldier in Afghanistan. Crazy. And the worst part is I don't see any solutions, sometimes all we can do is try to make the best of a bad situation.

6. I'm pretty shocked Walsh got as many votes as he did. Demographics alone will end the Republican party as it currently stands. The question is can we last long enough?

7. With their new majority it'll be interesting to see what the Illinois Democrats come up with as solutions to the state's problems. And also what impact those solutions will have on my desire to stay in Chicago.

8. I remember the huge show of police force during the NATO summit, dozens of police officers lining the bridges over the river, it was a very vivid reminder of the tradeoff between safety and freedom.

9. Kirk is one of the few Republicans in Congress who I respect, being from Illinois he is (or at least has to be) liberal on many issues. I voted for him hoping the GOP would move in his direction rather than in the direction of the Tea Party. Perhaps if he and other like-minded (i.e. reasonable) members of the GOP left they could win the support of many independents and centrist Democrats who have left the GOP because of its craziness. I was very sad to hear about his stroke but after a long recovery he appears ready to return to Congress.

10. Blagojevich, good riddance.

Monday, September 10, 2012

Teachers on strike

Some 29,000 teachers in Chicago went on strike meaning that 400,000 students aren't in school today and won't be until an agreement is reached.

http://in.reuters.com/article/2012/09/10/usa-chicago-schools-idINL1E8KA3HY20120910

The arguments for both sides sound pretty reasonable so I don't really know who to support here. In general I'm all about accountability and more power to dismiss bad or non-performing teachers. But according to Reuters 80% of CPS students qualify for free lunches because they come from low income families so I can see how teachers are worried that students are often "non-performing" for reasons far beyond what goes on in the classroom. Clearly this outcome is pretty extreme but hopefully this marks a new era for Chicago politics away from the Chicago Machine and toward something new. Financially the city is in pretty awful shape and no doubt that has an impact on businesses and people who want to call the city home.

Friday, August 3, 2012

Chicago Parklets

I've always liked the idea of big pedestrian-only areas with lots of restaurants and shopping. Although I enjoy al fresco dining in Chicago there isn't anything really akin to say  Lincoln Road in Miami Beach. Having cars drive by you when you're eating dinner outside definitely takes away from the experience. With street festivals we get rid of cars but add all kinds of tents and music that no one really cares about - so its a bit of a wash. But this latest plan to build parklets in Lakeview and Andersonville is a step in the right direction!

Saturday, July 7, 2012

On Condos

Interesting blog post on the history of condos in the US and around the world, titled "Why do condos even exist?"

http://marketurbanism.com/2012/07/01/why-do-condos-even-exist/

The author's big problem with condos is that once a condo building is developed and sold it becomes nearly impossible to tear down and redevelop. He gives a few explanation for the popularity of condos but overall I share his skepticism. If you live in a condo in downtown Chicago you're paying at least $1000 per month for assessments and taxes. At that point do you really "own" the condo? Plus you have to give up a lot of rights and freedoms for living in the building. To me this really seems like a version of long-term renting, you have to pay a lot of money up front then deal with the hassle of selling it down the line.

Tuesday, June 12, 2012

50% Increase in Chicago Murders

What is it about warm weather that makes people want to kill each other? I suspect the huge contrast between last years frequent blizzards and this years record warmth is largely to blame for such a drastic jump... though I'm not sure that makes me feel any better about it.

http://newsone.com/2020339/chicago-murders-2012/


Sunday, October 2, 2011

So about that income tax hike

The personal income tax in Illinois went up from 3% to 5% this year, the corporate tax went up from 4.8% to 7%. Tough pill to swallow but I guess everyone needs to chip in to keep the state solvent... or so I thought. This one line was just depressing. "Illinois' financial condition continues to worsen, though arguably not as quickly as before." The state is still facing an over $8 billion deficit this year.

http://www.chicagobusiness.com/article/20110926/NEWS02/110929908/illinois-going-deeper-into-debt-despite-tax-hike-civic-federation-says-greg-hinz

But in the grand scheme of things an $8 billion hole in a $117 billion budget isn't too bad. That is of course until you consider all the underfunded pensions and other off the book liabilities. Greece appeared to be in pretty good shape when they had Goldman Sachs cooking their books...

But what really scares me is the city's deficit, $650 million deficit from a $3.2 billion budget - a 20% hole. Can you imagine the city cutting 20% of spending on everything?

Friday, September 16, 2011

Lists

I'm a big fan of lists, both reading other peoples and writing my own. As a result I just spent the last hour reading through a list of the best Chicago websites. I found some great sites on here that I'd never heard of before:

http://www.chicagomag.com/Chicago-Magazine/February-2008/Nothing-But-Net-171-Great-Chicago-Web-Sites/The-List/index.php?cp=1&si=0