In a letter to [University of Chicago] President Robert Zimmer, 101 professors—about 8 percent of the university’s full-time faculty—said they feared that having a center named after [Milton Friedman,] the conservative, free-market economist could “reinforce among the public a perception that the university’s faculty lacks intellectual and ideological diversity.”
Chicagoania
Bear Economics
Dan is usually up on these things and he emails me as soon as it comes across the wires… another arrest of Cedric Benson, the Chicago Bears running back. He was arrested for drinking while boating and later, for drinking and driving. He just got released, so at least this soap opera is over.
On this blog, at least, Cedric is also known for other things – such as being a lousy running back on the Bears, a player who did nothing in the Super Bowl, and usually drops as soon as being hit, and can’t seem to find the hole or outrun the secondary. These attributes, bad as they are, are even worse since the Bears are traditionally a running team and have little else to fall back upon on offense (remember, Hester is on special teams and not proven as a receiver).
All of these items, however, are done to death everywhere else, and one thing about this blog is that we at least try to have a fresh angle on something or just leave it alone entirely. What really interests me, however, is the economics of the deal.
Recently I wrote about REM – the band (not sleeping), and how they stopped noodling around and actually decided to put out an album people would want to listen to – which just happened to be coincidentally linked to the fact that their guaranteed contract expired and going forward they would have to earn their lavish rock star lifestyles.
The question is – did the nature of Cedric’s contract encourage his lackadaisical attitude towards playing and his stupid off field behavior? I can’t seem to find the details of his contract but it was for $35 million, with a significant portion guaranteed. It was a five year contract, and he “played” for three years.
More Real Estate Trouble in the Condo Market
My neighborhood, the River North area of Chicago, has seen an explosion of condominium developments over the last decade. Loft buildings and business warehouses were the first to be converted, and then purpose-built high rise condominiums began to populate the neighborhood. While Chicago likely isn’t at the same frenzy level as South Beach in Florida, we certainly have a vast overhang of unsold and in-process condominiums on the market right now. Below you can see some of the recent construction (not all condominiums, a lot of it is office space) including the Trump Tower (on the left) as well as other developments. The “beige” building in front has a forlorn “Condos” sign at the top.
Today I was reading the Sunday Chicago Tribune real estate section when I noticed an article titled “Credit Getting Even Tighter for Condominium Buyers”. If you own a condominium and are interested in its value or are consider buying a condominium I strongly suggest that you research this issue in greater depth.
It Defies Belief!
This news article reports that 20 people were shot in Chicago in a single night.
But that is impossible! Guns are very carefully controlled in Illinois, and they are even more restricted in Chicago! They are so worried about illegal guns that even my own concealed carry license is null and void in the state, and I have to leave all of my perfectly legal guns at home if I visit my fellow Chicago Boyz!
Must be a miracle, all those guns just falling from the sky like criminal manna from heaven.
Truly we are in an age of wonders.
(Cross posted at Hell in a Handbasket. I figured that the self defense enthusiasts who visit there would be interested in this news.)
Chicago Tribune and Gun Control
The definition of journalism from an online dictionary:
2 a: writing designed for publication in a newspaper or magazine b: writing characterized by a direct presentation of facts or description of events without an attempt at interpretation c: writing designed to appeal to current popular taste or public interest
For this purpose, I am going to discuss b: writing characterized by a direct presentation of facts or description of events without an attempt at interpretation.
Today the front page of the Chicago Tribune described what happened to a poor, innocent woman who was shot down at her place of business in Elmhurst, IL. The headline is “The Law Didn’t Save Her” with the tag line “She tried a court order. She had him arrested. She took all the legal steps she could right up to the day her ex-boyfriend shot her dead in the parking lot.”