Newsletter: Economic Fallout Spreads From Coronavirus

stock market
Trader Gregory Rowe works on the floor of the New York Stock Exchange, Friday, March 6, 2020. Stocks are opening sharply lower on Wall Street and bond yields are sinking to more record lows as investors fear that economic damage from the spreading coronavirus outbreak will be longer than previously thought. Richard Drew / AP Photo
stock market
Trader Gregory Rowe works on the floor of the New York Stock Exchange, Friday, March 6, 2020. Stocks are opening sharply lower on Wall Street and bond yields are sinking to more record lows as investors fear that economic damage from the spreading coronavirus outbreak will be longer than previously thought. Richard Drew / AP Photo

Newsletter: Economic Fallout Spreads From Coronavirus

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Hey there! It’s Friday, and that means there’s another news quiz ! Let me know what you think. Here’s what you need to know today. (PS: You can have this delivered to your inbox by subscribing here.)


1. White House considers tax relief for industries affected by coronavirus

The struggling cruise, travel and airline industries might receive federal assistance, like deferred taxes, under a plan being discussed by White House officials, reports The Washington Post. The talks remain fluid, the newspaper reports, but it’s a sign that the Trump administration is privately concerned about the economic impact of the virus. [Washington Post]

Meanwhile, fears of an outbreak have caused a third convention to cancel at Chicago’s McCormick Place. Ace Hardware axed its conference scheduled for next week, a gathering that was expected to bring more than 14,000 people to the city.

The cancellations could have major effects on restaurants, hotels and shops that cater to conventions, and a downturn in tourism could hurt the cash-strapped city’s precarious budget. [Chicago Tribune]

2. Warren calls out Sanders for not reeling in “bullying” by his supporters

In her first interview since she suspended her presidential bid, Sen. Elizabeth Warren criticized Sen. Bernie Sanders for not doing enough to rein in the “organized nastiness” of some of his supporters, the so-called Bernie Bros.

Warren’s comments come as she considers whom she’ll endorse for the Democratic nomination, and her exit from the race does not mean her supporters will flock to Sanders, political observers say. [USA Today]

Meanwhile, the Sanders campaign reportedly faces an internal rift over how to proceed against former Vice President Joe Biden, whose presidential bid picked up momentum from this week’s Super Tuesday. [AP]

And calls are growing to grant federal security for presidential candidates after someone unfurled a Nazi flag at a Sanders rally. [Buzzfeed]

3. Cook County commissioner under federal scrutiny resigns

Jeffrey Tobolski today announced he will resign as Cook County commissioner and mayor of west suburban McCook. The move comes after federal authorities raided his offices at McCook Village Hall. His resignations also come just weeks after the feds indicted his top aide on corruption charges.

Tobolski is just one of several Illinois politicians facing federal scrutiny. [WBEZ]

Last month, WBEZ and the Better Government Association reported that a factory owner in Tobolski’s county board district felt pressured to give a campaign contribution to the commissioner while the businessman’s application for a property-tax break from the county was pending. [WBEZ]

4. Summer Olympics considers worst-case scenarios

Officials are considering the possibility of holding the Olympic Games without fans over fears of the coronavirus, according to The New York Times.

The Olympics are scheduled to take place in Tokyo beginning July 22, and sporting federation officials and World Health Organization representatives held a conference call last week to discuss worst-case scenarios.

Holding the games without fans could cost Tokyo about $850 million. [New York Times]

Meanwhile, swimmer Ryan Lochte hopes to make it to this year’s games despite turning 36, which is apparently reeeaally old for swimmers. If he qualifies for the Summer Olympics, Lochte would be the oldest male U.S. swimmer to compete in the games since 1904. [Washington Post]

5. Cop stripped of his police powers is running for Chicago FOP prez

Chicago’s 12,000 rank-and-file police officers finished the first round of voting for the next president of their union, the Fraternal Order of Police Lodge 7. And the two finalists in the race are incumbent Kevin Graham and John Catanzara Jr., who was stripped of his police powers in October.

Catanzara, described by the Chicago Sun-Times as “one of the CPD’s most frequently disciplined officers,” told WBEZ he was put on administrative duty after filing a police report against now-fired Police Supt. Eddie Johnson. The report was filed after the top cop marched arm-in-arm with Rev. Michael Pfleger during a 2018 protest against gun violence. [WBEZ]

Here’s what else is happening

  • Some of Chicago’s charter schools are adjusting to unionized teachers. [WBEZ]

  • Dozens of cats and dogs from tornado-stricken Tennessee could be available for adoption in Chicago. [Chicago Sun-Times]

  • A public school building on Chicago’s South Side once housed the first National Guard unit in the U.S. to have black officers. [WBEZ]

  • Yup, daylight saving time is this Sunday. [Vox]

Oh, and one more thing …

Looking for something to listen to this weekend? There’s a surprise bonus episode of WBEZ’s hit Making Beyoncé podcast.

Today’s episode looks at how the icon finally broke out on her own, and how the path to stardom wasn’t an easy one. You can listen to Making Beyoncé on Apple, Pocket Casts, Spotify or wherever you get podcasts.

And there are five episodes available of Season 2 of WBEZ’s Motive podcast, which follows a group of young women as they seek justice abroad.

This new investigative series examines allegations of sexual assault and abuse in Spain. We hear from the women breaking their silence — some for the very first time ⁠— and explore what happens next. Listen to the first two episodes now on Apple, Pocket Casts or Spotify.

Tell me something good …

Spring doesn’t officially begin until later this month, but it feels like we’re already out of the long, dark tunnel that is winter. What are you most excited to do now that winter seems to be over (for now)?

Tony writes:

“I’m very excited to wander around the city on my bicycle over lunch. My office is located right behind the Merchandise Mart, so I’m within bikeable distance of the lake, the parks, the river, the pier or even the Lincoln Park Zoo. (Nothing beats being able to just pop in for a lunch date with rhinos and otters!).”

And Cat Majors tweets:

“I can’t wait to watch fireflies and hear the crickets sing while walking my pups every evening!!”

Thank you to everyone who reached out this week. It was a pleasure chatting with you!

Thanks for reading and have a nice night! I’ll see you on Monday.