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  #61  
Old Posted Oct 18, 2016, 8:54 PM
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thats not just illinois, its the midwest in general. take an amtrak train west and take a look out the window at the towns youre passing through. the heart of this country has been pretty much decimated.
what i have seen of wisconsin, iowa, western michigan, minnesota just doesnt seem as bad as central illinois and parts of indiana. the heart of the cornbelt (excepting some of iowa) seems to have taken the hardest blow as far as smaller towns/cities, it seems. missouri is less populated outstate, however the northern-half of missouri is pretty bombed out, like a halfway developed version of central illinois.

when i say "bombed out," i mean lots of abandoned factories, decimated once sizable downtowns, vacant small town houses, in LOTS of towns of say 15,000, or so. even a small city like kewanee, il down I-80 had electric streetcar service down to galesburg, and was once fairly prosperous, and has lost like 50% of it's population as basically every factory in town has shuttered. it's not like southern style rural grit.

when you start getting into southern missouri, or parts of kentucky/tennessee, some of the towns get by on tourism, or were extremely poor/small to begin with and have new, non-union manufacturing out on the outskirts that have sort of brought things up a bit. lots of military bases. things just dont look as bad, in a way...maybe it's just all the forests hiding things...

in central illinois it's just all laid bare, i suppose, as there aren't areas of hidden super-rural poverty due to the mega-scale industrial agriculture dominating everything.
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Last edited by Centropolis; Oct 18, 2016 at 9:11 PM.
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  #62  
Old Posted Oct 18, 2016, 9:21 PM
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outstate illinois
Ha.

the correct term is downstate illinois.
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  #63  
Old Posted Oct 18, 2016, 9:43 PM
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Ha.

the correct term is downstate illinois.
oh yeah. i say outstate for missouri. muh-bad.
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  #64  
Old Posted Oct 18, 2016, 10:46 PM
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GE opening microfactory in Chicago to build industrial prototypes

GE is opening a microfactory in Chicago to turn big industrial ideas into small-batch prototypes.

The Chicago manufacturing facility, set to open in December, will be the first for Fuse, a new GE crowdsourcing initiative to create and build innovative industrial products. One of the first challenges on the Fuse drawing board, for example, is finding a new way to quickly inspect a hot jet engine between flights.

"The idea of reaching out to the online community really accelerates how we introduce new products," said Axel Grippo, Fuse's inaugural general manager.

The microfactory will be housed inside the mHub technology incubator, and will employ a staff of about 15 to 20 once manufacturing gets up to speed, Grippo said. The first prototype is expected to roll out early next year.

A nonprofit technology innovation center focused on manufacturing, mHub is set to formally open this winter in Motorola Mobility's old River West space at 965 W. Chicago Ave. The 63,000-square-foot facility includes 10 production labs, equipment, open space and everything needed to create and manufacture a prototype product.

GE Ventures is a partner in mHub, and Fuse will be among its first tenants.

Choosing Chicago as the site of the first Fuse microfactory didn't require a crowdsourcing challenge, according to Lisa Ralph, innovations program manager at GE.

"Chicago is one of the burgeoning tech hubs," Ralph said. "There's been a lot of investments in the digital ecosystem, so we're very excited to position Fuse as a great network across these communities."

Article: http://www.chicagotribune.com/busine...018-story.html
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  #65  
Old Posted Oct 21, 2016, 12:53 PM
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Massive South Loop data center ready for expansion

One of the world's largest data centers is about to get a whole lot bigger in the South Loop.

Digital Realty Trust, which owns the 1.1 million-square-foot Lakeside Technology Center, said it is planning to build a 12-story, 698,000-square-foot annex at 330 E. Cermak Road. That is just west of its existing facility at 350 E. Cermak.

The buildings will be separated by Calumet Avenue, but will be connected underground, according to the real estate investment trust.

At about 1.8 million square feet, the combined new facility would be larger than all but seven existing data centers in the world, all of which are in China, according to a recent study by IT Brand Pulse.

Article: http://www.chicagobusiness.com/reale...-in-south-loop


Caterpillar opens first Chicago office in Merchandise Mart

Caterpillar has opened its first Chicago office, an innovation-focused space in the Merchandise Mart the company hopes will attract young, tech-savvy talent.

The Digital and Analytics Hub officially opened Thursday.

Morgan Vawter, chief analytics director for Peoria-based Caterpillar and one of the hub’s first employees, said the company's first-ever Chicago office is an effort to boost talent recruitment.

“Part of it is the innovation pipeline: the connections to 1871 and the universities, being able to pull and tag those resources,” she said.

There are about 10 employees in the office, some from other locations, some who worked remotely in Chicago and some new hires. Vawter said the nearly 5,000-square-foot office should have 45 employees in about 18 months. Job openings are already posted online.

Article: http://www.chicagotribune.com/bluesk...020-story.html
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  #66  
Old Posted Oct 22, 2016, 4:14 PM
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OCC expands, plans to move Chicago HQ

Options Clearing Corp. has been on a hiring spree, and now it needs new digs to accommodate the increased headcount, CEO Craig Donohue said in an interview.

Chicago-based OCC, which guarantees options trades across the industry, will move to the Franklin, the office complex formerly known as the AT&T Corporate Center, in the second quarter of 2018. The company will expand its footprint 43 percent, taking 105,000 square feet in the complex at West Monroe and South Wells streets.

The space increase closely follows its workforce expansion: The company has added 100 employees over the past year for a total headcount of 550 now, and OCC is still planning to hire another 80, with about half slated for information technology jobs.

Article: http://www.chicagobusiness.com/artic...ove-chicago-hq
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  #67  
Old Posted Oct 25, 2016, 4:39 AM
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Carlson-Wagonlit is creating a new Hotels unit in Chicago and hiring a good number of technical staff, per a LinkedIn post by their new CTO.
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  #68  
Old Posted Oct 26, 2016, 4:40 PM
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Carlson-Wagonlit is creating a new Hotels unit in Chicago and hiring a good number of technical staff, per a LinkedIn post by their new CTO.
Link?


Also:
Auto warranty startup raises $10 million
Quote:
Mark Hodes just wanted to buy his daughter a used car as she was going off to school. Being a diligent dad who knew a thing or two about online shopping—he worked at TicketsNow, Threadless and NexTag—he went looking for an extended warranty. He didn't think much of the experience. He couldn't comparison shop, much less purchase an extended warranty online outside the dealership.

He launched ForeverCar.com two years ago to fill the needs of others like him. The Chicago-based company raised $10 million, led by the venture capital arm of CUNA Mutual Group. The Madison, Wis.-based company provides insurance and financial services products to more than 5,000 credit unions.

ForeverCar.com has tripled staff to 25 in the past year. It will use the money to add talent, particularly in data science and machine learning. Algorithms are crucial to recommending the right product for customers, Hodes says.

Hodes declined to disclose revenue, but he says ForeverCar.com collected several million in premiums last year, growing nearly fivefold
http://www.chicagobusiness.com/artic...-kdwc-and-cmfg
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  #69  
Old Posted Oct 26, 2016, 7:06 PM
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Link?
...
There's no press release (yet?), it's just I know that CTO and it was on his LinkedIn blog which I don't think is public.
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  #70  
Old Posted Oct 31, 2016, 5:07 PM
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Chicago Ventures closes $66 million second fund

Chicago Ventures has raised a $66 million second fund for early-stage deals.

It follows a $40 million fund raised three years ago. Chicago Ventures said it added Eric Lunt of Signal, Sam Yagan of ShopRunner, Brian Spaly of Trunk Club and Godard Abel of SteelBrick as advisers.

Chicago Ventures is the latest local venture firm to raise a follow-on fund—good news for startups, which often have struggled to find capital. Others that have raised new funds include OCA Ventures, Hyde Park Venture Partners and Corazon Capital.

Article: http://www.chicagobusiness.com/artic...e-capital-fund
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  #71  
Old Posted Nov 3, 2016, 12:21 AM
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PowerReviews growing fast, finds new HQ

Matt Moog's purchase of PowerReviews continues to pay dividends for him and the Chicago tech community.

The company has doubled its headcount locally in the past year to about 135 and has outgrown its offices at 180 N. LaSalle St. PowerReview is moving to 50,000 square feet at 1 N. Dearborn St., more than doubling its current space.

It's a rare case of Chicago's tech community growing at the expense of San Francisco. Moog has shut down his company's San Francisco office and has either moved most of the jobs to Chicago or filled them with talent here, adding new positions.

Article: http://www.chicagobusiness.com/artic...t-finds-new-hq
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  #72  
Old Posted Nov 3, 2016, 2:03 PM
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I wonder how much the Cubs World Series appearance added to Chicago's economy. I mean, just in ticket sales, if the three games here averaged $1,000 per seat, averaging across people who paid face and people who had to buy on the secondary market, that's over $120 million just in ticket sales. Not to mention the million people spending extra money on beer and apparel and cab fares, etc.
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  #73  
Old Posted Nov 4, 2016, 12:04 AM
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Originally Posted by Justin_Chicago View Post
PowerReviews growing fast, finds new HQ

Matt Moog's purchase of PowerReviews continues to pay dividends for him and the Chicago tech community.

The company has doubled its headcount locally in the past year to about 135 and has outgrown its offices at 180 N. LaSalle St. PowerReview is moving to 50,000 square feet at 1 N. Dearborn St., more than doubling its current space.

It's a rare case of Chicago's tech community growing at the expense of San Francisco. Moog has shut down his company's San Francisco office and has either moved most of the jobs to Chicago or filled them with talent here, adding new positions.

Article: http://www.chicagobusiness.com/artic...t-finds-new-hq

I found this interesting from the article:
Quote:
Moog kept both offices open, flying back and forth, but decided to wind down the San Francisco one. About a dozen people will continue to work from home in the Bay Area. Although Moog has long been a vocal proponent of the Chicago scene, co-founding Built in Chicago five years ago, he says his move was all about the business.

“For two years, I've had the experience of building a company simultaneously in San Francisco and Chicago,” he said. “Rents (in San Francisco) are twice as much as they are here. Hiring there is like a blood sport, with signing bonuses, recruiting fees and multiple offers. You're paying a 30 percent premium at least. The cost of living there is so high, with rents two or three times more than in Chicago.

“At the end of the day, it was expensive, hard to hire, hard to retain people. The talent is there, just like it is here. But there is more competition and more noise.”

PowerReviews isn't Uber or Postmates, but it's profitable and growing more than 30 percent annually, Moog says, though he declines to disclose the specific financials.
Though I have to laugh about "multiple offers" - that's normal Moog...that's normal.
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  #74  
Old Posted Nov 5, 2016, 2:00 PM
Justin_Chicago Justin_Chicago is offline
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Originally Posted by emathias View Post
I wonder how much the Cubs World Series appearance added to Chicago's economy. I mean, just in ticket sales, if the three games here averaged $1,000 per seat, averaging across people who paid face and people who had to buy on the secondary market, that's over $120 million just in ticket sales. Not to mention the million people spending extra money on beer and apparel and cab fares, etc.
The only benefit is from people living outside the city coming in for the playoff atmosphere and parade. A $1 spent by a Chicagoan on the Cubs would have been spent elsewhere in the city (or outside) assuming people maintain the same average consumption and savings rate.
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  #75  
Old Posted Nov 5, 2016, 2:28 PM
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^ Not really, a Chicago resident likely spent $1 when he otherwise may not have, at least that is my take
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  #76  
Old Posted Nov 5, 2016, 3:27 PM
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As my 135 crossed Michigan and Wacker yesterday, I was thinking about the economic impact on Chicago but not the direct impact.

I am so fatigued by the consistent depiction of Chicago as a crime ridden, gang infested, struggling Rust Belt has-been that it was refreshing to see the city put in a positive spotlight due to the story of the Cubs.

This World Series has been some damn fine PR for the city.

How many high school seniors considering a Chicago university were watching? How many college seniors thinking ahead to their first job were watching? How many business leaders who had been considering Chicago for expansion or relocation were watching? How many trade show decision makers were watching?

And on and on.
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  #77  
Old Posted Nov 5, 2016, 4:39 PM
Justin_Chicago Justin_Chicago is offline
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^ Not really, a Chicago resident likely spent $1 when he otherwise may not have, at least that is my take
Economics would say that the person would decrease their consumption later on. Consumer Output(Y) = Consumption(C) + Savings(S). Maybe that person would spend one less dollar dining out this weekend. Otherwise, their savings rate will have to decrease, which would have long run implications on wealth and output.

The City of Chicago concentrates significant resources on increasing tourism because unless our city population grows (or wealth rises), it is the only way to create an economic boom. The George Lucas Museum (and the tourism it would attract) was important for this reason.

I rode a Divvy bicycle by Wrigley this morning and there are still 100-200 people taking photos in front of the World Series Champions sign. Most of them appear to be visiting from outside the city, so I suspect we will have a nice small economic boom as they shop and dine in the Lakeview area and vendors are city residents.

On an unrelated sporting note, I wish the Chicago Fire would move to a new stadium on the Southside (Bridgeport) or Westside (Garfield).

Last edited by Justin_Chicago; Nov 5, 2016 at 4:56 PM.
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  #78  
Old Posted Nov 5, 2016, 5:07 PM
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On an unrelated sporting note, I wish the Chicago Fire would move to a new stadium on the Southside (Bridgeport) or Westside (Garfield).
Interesting thought. Would be really cool if they found a place to build a stadium near the Central Manufacturing District.
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  #79  
Old Posted Nov 5, 2016, 5:51 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by Justin_Chicago View Post
Economics would say that the person would decrease their consumption later on. Consumer Output(Y) = Consumption(C) + Savings(S). Maybe that person would spend one less dollar dining out this weekend. Otherwise, their savings rate will have to decrease, which would have long run implications on wealth and output.
But economics is not a zero sum game, wealth cam be added when new capital is created. At its most base level capital results from an investment of individual effort or time. So though a fan may have spent money now that they would have otherwise spent later, the real boon comes from an adjustment of their confidence and motivation. The real benefit of an occurrence like this is that it is likely putting a lot of people in a good mood and those individuals will likely step up their output and productivity as a result.

So yes this may mean more success for tourism businesses (there were about a dozen tour boats jam packed loitering at the Michigan Ave bridge laying on their fog horns yesterday) or more business for bars in lakeview, but the real benefit is likely a bump in moral for all the workers and business owners in Chicagoland. Let's say everyone puts in 5% more effort over the next month, that's an almost 1% annual output boost in a regional economy that generates half a trillion a year. So you can see how the numbers could get pretty big pretty quick.

I believe there will be some impact along these lines too because all I've heard since they won is people chatting up a storm about it or humming go cubs go as they walk down the street.
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  #80  
Old Posted Nov 5, 2016, 6:03 PM
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Originally Posted by HowardL View Post
As my 135 crossed Michigan and Wacker yesterday, I was thinking about the economic impact on Chicago but not the direct impact.

I am so fatigued by the consistent depiction of Chicago as a crime ridden, gang infested, struggling Rust Belt has-been that it was refreshing to see the city put in a positive spotlight due to the story of the Cubs.

This World Series has been some damn fine PR for the city.

How many high school seniors considering a Chicago university were watching? How many college seniors thinking ahead to their first job were watching? How many business leaders who had been considering Chicago for expansion or relocation were watching? How many trade show decision makers were watching?

And on and on.
I think this is a very good point. The positive PR is almost never measured by economic experts that love to poo poo the economics of professional sport teams.

In the Short term Cleveland my have gained more in the local economy than Chicago but in the long term The winners take the spoils. I do indeed believe there is long term economic benefits of this WIN.




http://fox8.com/2016/11/03/millions-...-series-games/

Millions spent in downtown Cleveland during World Series games


POSTED 6:56 PM, NOVEMBER 3, 2016, BY MATT WRIGHT

CLEVELAND - The World Series wasn't a total loss for Cleveland. From bars and restaurants to hotels, local businesses cashed in on tens of thousands of fans watching the Indians face the Chicago cubs in downtown Cleveland.

The Indians estimated each postseason home game pumped $3 million into the downtown Cleveland economy, and that number could be even higher for the four World Series games.

Flannery’s Pub operations manager Nikki Sullivan said sales at the East 4th Street hot spot tripled during World Series games, in line with the NBA Finals.

“It's been great, not just for bartenders, managers, restaurant owners. It's been great for all of the downtown economy,” she said.

Part of the reason could be the number of Cubs fans that traveled to Cleveland.

“One Cubs fan told me it's cheaper for them to come to Cleveland, buy a ticket, get a hotel room, party, than it is to go to a game back in Chicago,” Sullivan said.


Two thousand hotel rooms were added downtown ahead of the Republican National Convention in July and all of them were booked for the World Series, with some charging three times their normal rates.


“The Cubs brought a lot of travelers into downtown. We saw significant occupancy, significant in terms of daily rates for hotel rooms. Our restaurants were packed. Our parking lots were packed,” said Joe Marinucci, Downtown Cleveland Alliance President and CEO. “All of the hotels downtown and many of the hotels within the system outside of downtown were fully booked.”


...

The long-term impact due to increased visibility for Cleveland is hard to measure after a remarkable year for events downtown.

...
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