WBEZ | Crain's Chicago Business http://www.wbez.org/tags/crains-chicago-business Latest from WBEZ Chicago Public Radio en How China’s crash affects housing market http://www.wbez.org/programs/morning-shift/2015-08-25/how-china%E2%80%99s-crash-affects-housing-market-112718 <img typeof="foaf:Image" src="http://llnw.wbez.org//main-images/housing DanielSTL_0.jpg" alt="" /><p><p>The news of a slowdown in the Chinese economy last week sent shockwaves across the globe, including the U.S. housing market. The crash has already led the federal government to say it&rsquo;s less likely to increase interest rates this fall. Crain&rsquo;s Chicago Business real estate reporter Dennis Rodkin talks about the Chinese market&rsquo;s effect on housing here in the U.S. and Chicago.</p></p> Tue, 25 Aug 2015 10:47:00 -0500 http://www.wbez.org/programs/morning-shift/2015-08-25/how-china%E2%80%99s-crash-affects-housing-market-112718 “Starchitect” Helmut Jahn to make his mark Chicago yet again http://www.wbez.org/programs/morning-shift/2015-08-11/%E2%80%9Cstarchitect%E2%80%9D-helmut-jahn-make-his-mark-chicago-yet-again-112618 <img typeof="foaf:Image" src="http://llnw.wbez.org//main-images/mansueto library FlickrJohn Zacherle.jpg" alt="" /><p><p>German-born, Chicago-trained architect Helmut Jahn is set to make his mark on the City of the Big Shoulders yet again. 1000 South Michigan Avenue is an empty lot now, but soon it could be the latest architectural attraction in a city full of them thanks to Jahn&rsquo;s sought-after imprint. Crain&rsquo;s Chicago Business real estate reporter Dennis Rodkin gives us the details.</p></p> Tue, 11 Aug 2015 10:47:00 -0500 http://www.wbez.org/programs/morning-shift/2015-08-11/%E2%80%9Cstarchitect%E2%80%9D-helmut-jahn-make-his-mark-chicago-yet-again-112618 Chicago’s hotels doing big business http://www.wbez.org/programs/morning-shift/2015-08-03/chicago%E2%80%99s-hotels-doing-big-business-112544 <img typeof="foaf:Image" src="http://llnw.wbez.org//main-images/Flickrsubbu arumugam.jpg" alt="" /><p><p>Lollapalooza saw almost 300,000 come in and out of Grant Park over the weekend. It&rsquo;s a safe bet that plenty of ticket holders came from out of town, and many of them stayed in hotels in or around downtown. It would be an additional boost to a business sector that has seen great numbers so far in 2015. Crain&rsquo;s Chicago Business Reporter Danny Ecker joins us with more on what the numbers mean for hotel owners, for travelers and for the city.</p></p> Mon, 03 Aug 2015 11:11:00 -0500 http://www.wbez.org/programs/morning-shift/2015-08-03/chicago%E2%80%99s-hotels-doing-big-business-112544 Kirk loses backing of major donor http://www.wbez.org/programs/morning-shift/2015-07-29/kirk-loses-backing-major-donor-112505 <img typeof="foaf:Image" src="http://llnw.wbez.org//main-images/Mark Kirk_Getty_File.jpg" alt="" /><p><p>Illinois&rsquo; Republican US Senator Mark Kirk seems to have lost the confidence of a top Illinois GOP fundraiser. According to <a href="http://www.chicagobusiness.com/article/20150728/BLOGS02/150729808/gop-fundraiser-gidwitz-calls-on-mark-kirk-to-abandon-reelection-race"><em>Crain&rsquo;s Chicago Business</em></a>, businessman and onetime candidate for Illinois governor, Ron Gidwitz, had initially told the publication that Kirk should abandon his re-election bid.</p><p>Kirk&rsquo;s received criticism lately for a series of verbal gaffes. And some Republicans are worried Illinois&rsquo; junior senator may not be able to run a robust campaign against whichever Democrat wins the primary. Here to tell us more is Republican strategist Chris Robling.</p></p> Wed, 29 Jul 2015 13:26:00 -0500 http://www.wbez.org/programs/morning-shift/2015-07-29/kirk-loses-backing-major-donor-112505 Remaking the Chicago River http://www.wbez.org/programs/morning-shift/2015-07-24/remaking-chicago-river-112470 <img typeof="foaf:Image" src="http://llnw.wbez.org//main-images/chicago river Kate Hopkins.jpg" alt="" /><p><p>Three new high-rise buildings are going up at the Y split in the River in the West Loop that will have a dramatic impact on what people see when they&rsquo;re near the water. The architecture at the sites is significant, and so is the engineering. One of the buildings is being constructed with a massive crane that had to be floated up the South Branch of the river, and all three projects are precisely placed to squeeze in next to the river and existing rail lines. Here to discuss what&rsquo;s going on on the Chicago River is Dennis Rodkin, Residential Real Estate Reporter with Crain&rsquo;s Chicago Business.</p></p> Fri, 24 Jul 2015 11:09:00 -0500 http://www.wbez.org/programs/morning-shift/2015-07-24/remaking-chicago-river-112470 Evaluating Playboy's waning Chicago presence http://www.wbez.org/episode-segments/2011-10-25/evaluating-playboys-waning-chicago-presence-93460 <img typeof="foaf:Image" src="http://llnw.wbez.org//segment/photo/2011-October/2011-10-25/CB8AE1A35F04D82775CC51D5233A.jpg" alt="" /><p><p>When the TV series <a href="http://www.imdb.com/title/tt1797475/" target="_blank"><em>The Playboy Club</em></a> was axed earlier this month, the move suggested <em><a href="http://www.playboyenterprises.com/" target="_blank">Playboy</a></em> may no longer be ready for primetime. <em>Playboy</em> has been in Chicago since 1953 when Hugh Hefner first started to publish the storied men’s magazine. But recent moves indicated that the company’s interests lay elsewhere. The founder and other top brass are mostly in Los Angeles and <em>Playboy’s</em> potential for growth has long been in TV production and licensing, not publishing. Lynne Marek reports on Playboy Enterprises for <em><a href="http://www.chicagobusiness.com/" target="_blank">Crain’s Chicago Business</a></em> so <em>Eight Forty-Eight</em> caught up with her Monday to talk about the company's future in Chicago. She started by saying that even though “Hef” is on the West Coast, the company still has some presence here in his hometown.</p></p> Tue, 25 Oct 2011 15:30:00 -0500 http://www.wbez.org/episode-segments/2011-10-25/evaluating-playboys-waning-chicago-presence-93460 Examining Mayor Emanuel: The money maker http://www.wbez.org/episode-segments/2011-05-16/examining-mayor-emanuel-money-maker-86584 <img typeof="foaf:Image" src="http://llnw.wbez.org//segment/photo/2011-May/2011-05-16/Rahm shakes hands in the Berghoff - Bill Healy.jpg" alt="" /><p><p>Mayor-elect Emanuel raised big funds for Mayor Daley, former President Bill Clinton and numerous Democratic Congressional runs in 2006. He’s also filled his own campaign war chests and personal bank accounts. After leaving the Clinton White House he had a brief but very successful run as an investment banker.<br> <br> <em>Crain’s Chicago Business</em> political blogger <a href="http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz" target="_blank">Greg Hinz</a> has had his eye on the money trail, and he joined <em>Eight Forty-Eight</em> to talk about the new Mayor’s way with money.</p></p> Mon, 16 May 2011 13:13:00 -0500 http://www.wbez.org/episode-segments/2011-05-16/examining-mayor-emanuel-money-maker-86584 Crain's agrees: Lollapalooza tax deal warrants scrutiny http://www.wbez.org/jderogatis/2010/10/crains-agrees-lollapalooza-tax-deal-warrants-scrutiny/40133 <p><p style="text-align: center;"><a rel="attachment wp-att-40135" href="/jderogatis/2010/10/crain%e2%80%99s-agrees-lollapalooza-tax-deal-warrants-scrutiny/40133 /lolla-art2-2"><img height="298" width="480" class="aligncenter size-full wp-image-40135" title="Lolla-art2" src="/sites/default/files/archives/blogs//Lolla-art22.jpg" alt="" /></a></p><div>&nbsp;</div><p>The reputation of <a href="http://www.chicagobusiness.com/section/blogs">Crain's Chicago Business blogger Greg Hinz</a> precedes him: He's an arrogant, surly bulldog and dedicated contrarian, and he seemed to be gunning for me, eager to challenge <a href="../jderogatis/2010/10/is-chicago-earning-all-that-it-should-from-lollapalooza/38601">my reporting</a> on Lollapalooza's unprecedented, long-term, tax-exempt, competition-free sweetheart deal with the city.<!--break--></p><p>In reaching out to a colleague via email to find my contact information -- never mind that my email address is all over the Web, and my phone number is listed in the book (so much for bulldog journalistic chops) -- Hinz wrote, &quot;I was thinking of doing something on his lollapallooza [sic] post, but it apepars [sic] there's a big mistake in it. I hate to knock him without talking to him.&quot;</p><p>The mistake Hinz was referring to was the tax percentage I corrected <a href="../jderogatis/2010/10/a-second-look-at-my-lollapalooza-tax-math/39092">as soon as my error was pointed out</a>, but he wasn't deterred when we eventually spoke: He seemed determined, because I primarily am a rock critic, to snicker at my abilities as a reporter. (Again, never mind that I have spent nearly a quarter of a century wearing both hats, working for five years as a beat and investigative reporter before becoming a professional critic, and continuing as such to report difficult stories such as the litigious mess of Kurt Cobain's posthumous career, the city's assault on the Chicago club scene, and the R. Kelly scandal.)</p><p>But surprise: Hinz concluded that there are indeed significant questions to be asked about the 10-year deal between Lollapalooza, the Chicago Park District, and the CPD-powered non-profit Parkways Foundation. <a href="http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz&amp;plckController=Blog&amp;plckScript=blogScript&amp;plckElementId=blogDest&amp;plckBlogPage=BlogViewPost&amp;plckPostId=Blog%3a1daca073-2eab-468e-9f19-ec177090a35cPost%3a26084b86-672b-4e45-931c-8434f4788429&amp;sid=sitelife.chicagobusiness.com">He wrote:</a></p><blockquote>Does Lollapalooza, the big music festival that occupies a chunk of Grant Park for several days each summer, get a sweetheart tax deal from the city of Chicago? That's the question a rock music writer who blogs on WBEZ's Vocalo website asked in a recent post and, while I don't think he proves his case, the matter does post [sic] some fascinating and unanswered questions.</blockquote><p>Hinz notes as I did that any other promoter staging a concert such as Lollapalooza or anything a fraction of its size &quot;normally would owe 5% in amusement taxes, which would amount to about $1 million a year for city coffers.&quot; Then he adds: &quot;On the other hand, the firm [Austin, TX-based promoters C3 Presents] appears to pay far more than that $1 million&sbquo;&nbsp;under its arrangement with the district.&quot;</p><p>That &quot;appears to pay&quot; part is key. The only numbers that can be confirmed to date are payments that average out to a million dollars a year over the first five years that the concert has been in Grant Park. Hinz is willing to accept city officials' word that the payment for 2010 will be double that, or about $2 million. I'm not -- at least not until the city's take officially is reported, and it hasn't been yet. And the only entity in a position to audit Lollapalooza's numbers is Lollapalooza itself.</p><p>&quot;All that dough goes to the park district, not the city,&quot; Hinz continues. By law, the amusement taxes any other promoter would pay would go to the city, and a separate, significant figure amounting to as much as a million dollars to close Grant Park for several weeks would go to the Park District.</p><p>Even if the city is making more money under the current deal than it would from a straight tax payment plus a rental fee for the park, well, the tax payment happens to be the law. As citizens, we may argue with the police officer who pulls us over for running a red light: &quot;Honest, sir, I had a very good reason!&quot; But in the end, the law is the law, and everybody is supposed to follow it. Why shouldn't big business?</p><p>While he was skeptical about this point when we talked, Hinz admitted in his blog post: &quot;There still is a nagging question about how C3 got the exemption from paying the city's amusement tax.&quot;</p><p>My reading of the municipal code -- and it's one that has been confirmed by several knowledgeable attorneys -- is that tax exemptions for big events such as Lollapalooza are allowed only when all of the profits, after reasonable expenses, go to a non-profit group for civic improvements. &quot;Parkways would appear to fit that definition,&quot; Hinz writes. &quot;But C3, which is in the business of making not only music but a buck?&sbquo;&nbsp;I've not been able to get an answer.&quot;</p><p>Well, at least this blogger is not the only one being stonewalled by city officials reluctant to answer thorny questions about the biggest private for-profit event ever to take place on the jewel of the city's lakefront being granted a tax exemption that it does not seem to deserve and which seems to be illegal, quite possibly thanks to the political connections between C3 and its attorney and lobbyist, Mark Vanecko, a nephew of Mayor Daley.</p><p>And Hinz ultimately came to the same conclusion I did:</p><blockquote>&quot;Those strike me as pretty good questions for the candidates to ponder as half the city prepares to run for mayor and alderman.&quot; <br /></blockquote> <p><strong>******</strong> <strong>Earlier reports in this blog about Lollapalooza:</strong></p><p><a href="../jderogatis/2010/10/a-second-look-at-my-lollapalooza-tax-math/39092">Oct. 6: A second look at my Lollapalooza tax math</a></p><p><a href="../jderogatis/2010/10/does-austin-get-a-crappy-deal-from-lollapalooza%E2%80%99s-%E2%80%9Clittle-sister%E2%80%9D/38614">Oct. 5: Does Austin get a crappy deal from Lollapalooza's &quot;little sister&quot;?</a></p><p><a href="../jderogatis/2010/10/jderogatis/2010/10/is-chicago-earning-all-that-it-should-from-lollapalooza/38601#more-38601">Oct. 4: Is Chicago earning all that it should from Lollapalooza?</a></p><p><a href="../jderogatis/2010/10/jderogatis/2010/10/jderogatis/2010/07/lollapalooza-liquor-sales-and-the-links-to-the-mayor%E2%80%99s-nephew/29595">July 13: Lollapalooza, liquor sales, and the links to the mayor's nephew</a></p><p><a href="../jderogatis/2010/10/jderogatis/2010/10/jderogatis/2010/06/analysis-what%E2%80%99s-behind-the-attorney-general%E2%80%99s-investigation-of-lollapalooza/27939">June 29: What's behind the Attorney General's investigation of Lollapalooza?</a></p><p><a href="../jderogatis/2010/10/jderogatis/2010/10/jderogatis/2010/06/breaking-illinois-attorney-general-investigating-lollapalooza-for-anti-trust/27523">June 24: Illinois Attorney General investigating Lollapalooza for anti-trust</a></p></p> Tue, 19 Oct 2010 06:00:00 -0500 http://www.wbez.org/jderogatis/2010/10/crains-agrees-lollapalooza-tax-deal-warrants-scrutiny/40133