The [Tuesday] Papers
"For years, James J. Banks, a nephew of Chicago's powerful Ald. William Banks (36th), has been the attorney of choice for developers who need the city's OK to knock down homes and small businesses and replace them with three- and four-story condo buildings," Tim Novak reports in the Sun-Times today.
"Now he's their money man of choice, too, financing projects through his 2-year-old bank."
And while it may not seem like a good time to be in the banking business, it most certainly is if you have the right Chicago connections.
"Among [the bank's] customers: developers James Banks represents before the City Council Zoning Committee run by his uncle."
But that's not the only completely coincidental family link.
James Banks's bank "has funded several condo projects involving his wife, Grace Sergio," Novak also reports. "In some cases, Banks got the property rezoned by the City Council Zoning Committee - headed by his uncle, Ald. William Banks."
So much to talk about at holiday dinners!
The board of the Belmont bank, by the way, includes mayoral pal Fred Barbara, the nephew of the late mobbed-up Ald. Fred Roti and grandson of Bruno "the Bomber" Roti; state Sen. James DeLeo; and Ald. Willam Banks's brother, Samuel.
An Axelrod to Grind
That's not surprising given what I presume is a skyrocketing increase in natural-gas prices. I presume because I used to pay about 15 bucks a month for the few times that I use my gas stove (I don't have to pay for my own heat) and now I'm paying about 40 bucks a month. For what? Just to be hooked up.
Even worse, People's Energy forecasts an 11 percent rise in prices between now and March.
I did get two DiGiorno's Supreme pizzas for $5 each, though. So who knows.
But Beachwood Elder Tim Willette points out that - according to the U.S. Census Bureau - there are only an estimated 61 million married American men in all.
Expert AC/DC Analysis
We use tools from experimental economics to address the age-old debate regarding who was a better singer in the band AC/DC. Our results suggest that (using wealth maximization as a measure of "better") listening to Brian Johnson (relative to listening to Bon Scott) resulted in "better" outcomes in an ultimatum game. These results may have important implications for settling drunken music debates and environmental design issues in organizations. (JEL C7, C9, D6, Z1)
Dusty & Ozzie
Street Art in the West Loop
The Beachwood Tip Line: A strong-arm tactic.
Posted on October 14, 2008
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