Chicago sees surge in foreclosure auctions









More than 35,000 homes and small multifamily buildings in the Chicago area completed the foreclosure process last year, the highest number since the housing crisis began, and the vast majority of them became bank-owned.


An increase in foreclosure auctions was expected since lenders shelved many foreclosure cases while state and federal authorities investigated allegations of faulty foreclosure processes. Still, the heightened level of auctions — 35,244 in 2012, compared with 20,281 in 2011 — along with an increase in initial foreclosure filings, shows the local housing market has a long road to recovery, according to the Woodstock Institute.


"There's going to be pain in the housing market in the short term," said Katie Buitrago, senior policy and communications associate at Woodstock. "There's still high levels of filings. Five years into it, there is still work to be done to help people save their homes."








The Chicago-based public policy and research group is expected to release its report on 2012 foreclosure activity Wednesday.


The year-end numbers show that, with few exceptions, all Chicago neighborhoods and suburban communities saw high double-digit percentage gains in auctions last year. Across the six-county area, 91.3 percent of the foreclosed properties were repossessed by lenders. At the same time, notices of initial default sent to homeowners, the first step in the foreclosure process, increased by 2.9 percent last year, to 66,783.


Real estate agents have worried for more than two years about a glut of foreclosed properties — a shadow inventory — that banks would list for sale en masse and cause home values to plunge. That largely has not happened, but the vast number of distressed properties in the market has kept a lid on local home values.


On Tuesday, for instance, Fannie Mae and Freddie Mac's websites listed 2,415 Cook County homes for sale that the two agencies had repossessed.


Chicago-area home prices, including distressed sales, fell 2.3 percent in December from a year ago, housing analytics firm CoreLogic said Tuesday. Illinois was one of only four states to see home-price depreciation.


The increase in auctions "is a mixed blessing," Buitrago said. "We've been having a lot of trouble in the region with vacant properties that have been languishing for years. The longer they're vacant, the more likely they are to be a destabilizing force in their communities."


Woodstock found that within the city of Chicago, there were 20 communities where more than 1 in 10 owner-occupied one- to four-unit residential buildings and condos went through foreclosure from 2008 to 2012. Five of those neighborhoods are included in the city's 18-month-old Micro-Market Recovery Program, a coordinated effort to stabilize neighborhoods and property values hit hard by foreclosures and vacant buildings.


Also designed to benefit hard-hit areas are the recent establishment of a Cook County Land Bank and legislation waiting for Gov. Pat Quinn's signature that will fast-track the foreclosure process for vacant, abandoned homes while providing financial resources to foreclosure prevention efforts.


mepodmolik@tribune.com


Twitter @mepodmolik





Read More..

Chicago, your commute will likely take far longer than you think









You can predict with a high degree of confidence that the time it takes to drive from Point A to B on any given day is unpredictable.


And it's not just snowy or rainy days. It can be any day.


If there is a bright side, it's that Chicago was not the worst.





Residents of the Chicago area are accommodating that increasing uncertainty by setting aside more time each day — just in case — for the commute, new research shows.


For the most important trips, such as going to work, medical appointments, the airport or making a 5:30 p.m. pickup at the child care center to avoid late fees, drivers in northeastern Illinois and northwest Indiana should count on allotting four times as much time as it would take to travel in free-flowing traffic, according to the "Urban Mobility Report" to be released Tuesday by the Texas A&M Transportation Institute. The analysis is based on 2011 data, which are the most recent available.


It is the first time that travel reliability was measured in the 30-year history of the annual report. The researchers created a Planning Time Index geared toward helping commuters reach their destinations on time in more than 95 percent of the trips. A second index, requiring less padding of travel time, would get an employee to work on time four out of five days a week.


"If you plan only for average traffic conditions on your trip in the Chicago area, you are going to be late at least half the time," said Bill Eisele, a senior research engineer at the Transportation Institute who co-authored the study.


The constant unreliability that hovers over commuting is stealing precious time from other activities, crimping lifestyles, causing mounting frustration for drivers and slapping extra costs on businesses that rely on just-in-time shipments to manage inventory efficiently, researchers found.


The Chicago region ranked No. 7 among very large urban areas and 13th among 498 U.S. cities on a scale of the most unreliable highway travel times. The Washington area was the worst. A driver using the freeway system in the nation's capital and surrounding suburbs should budget almost three hours to complete a high-priority trip that would take only 30 minutes in light traffic, the study said.


The Washington area was followed on the list by the metropolitan areas of Los Angeles, New York-Newark, Boston, Dallas-Fort Worth, and Seattle.


Rounding out the top 10, the Chicago metro area was trailed by San Francisco-Oakland, Atlanta, and Houston.


Truck driver Frank Denk said he usually adds an hour or two to his trip through the Chicago area. Sometimes, it's not enough, other times traffic isn't a problem, he said. The one constant, Denk said Monday afternoon while taking a break at the O'Hare Oasis on the Tri-State Tollway, is that it is almost impossible to anticipate correctly.


"Job-wise, it can be very detrimental to truckers," said Denk, who is based in Green Bay, Wis. "All of a sudden, you're not able to make your delivery."


But quadrupling the time to travel back and forth each day? That's excessive, said Mike Hennigan, a 64-year-old accountant who regularly commutes from his Evanston home to his office near the junction of the Kennedy and Edens expressways. He recommends doubling the anticipated travel time.


"I can predict when it's going to be bad," Hennigan said, although he is less optimistic about his travel times when he heads toward downtown.


"Coming into the Loop can be deadly, especially later in the week," Hennigan said.


Overall, traffic congestion in the Chicago region is getting worse as the economy improves, although it's not as severe as the grip that gridlock has taken recently on some other very large metropolitan areas in the U.S., according to the report. The Washington area again topped the list, followed by Los Angeles, San Francisco-Oakland, New York-Newark, Boston, Houston, Atlanta, Chicago, Philadelphia, and Seattle.


No longer being ranked at the very top of the congestion heap provides little consolation for Chicago-area drivers.


What should be a 20-minute jaunt across town in Chicago or the suburbs if highway capacity were sufficient to permit vehicles to travel the speed limit now becomes about an 80-minute ordeal, according to the Texas A&M study. Scheduling 80 minutes for the trip would ensure an on-time arrival 19 out of 20 times, the study concluded.


But that would be similar to treating every day of the year as if it were like Monday, when a moderate snowfall blanketing the Chicago region smacked traffic into slow motion during the morning rush.





Read More..

NJ Gov. Christie, Letterman laugh about fat jokes






TRENTON, N.J. (AP) — New Jersey Gov. Chris Christie and David Letterman have shared some laughs about the many fat jokes the comedian has made about the lawmaker’s ample girth.


Christie has termed his plumpness “fair game” for comedians. And during his first appearance on “Late Show with David Letterman” on Monday, the outspoken Republican and potential 2016 presidential contender read two of Letterman‘s jokes that he said were “some of my personal favorites.”






The governor also drew loud laughs when he pulled out a doughnut and started eating it while Letterman asked him if he was bothered by the digs that have been made about his weight. Christie said he wasn’t, noting that he laughs at the jokes if he finds them funny.


“Late Show” airs on CBS at 11:35 p.m. Eastern time.


Entertainment News Headlines – Yahoo! News





Title Post: NJ Gov. Christie, Letterman laugh about fat jokes
Url Post: http://www.news.fluser.com/nj-gov-christie-letterman-laugh-about-fat-jokes/
Link To Post : NJ Gov. Christie, Letterman laugh about fat jokes
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Well: Expressing the Inexpressible

When Kyle Potvin learned she had breast cancer at the age of 41, she tracked the details of her illness and treatment in a journal. But when it came to grappling with issues of mortality, fear and hope, she found that her best outlet was poetry.

How I feared chemo, afraid
It would change me.
It did.
Something dissolved inside me.
Tears began a slow drip;
I cried at the news story
Of a lost boy found in the woods …
At the surprising beauty
Of a bright leaf falling
Like the last strand of hair from my head

Ms. Potvin, now 47 and living in Derry, N.H., recently published “Sound Travels on Water” (Finishing Line Press), a collection of poems about her experience with cancer. And she has organized the Prickly Pear Poetry Project, a series of workshops for cancer patients.

“The creative process can be really healing,” Ms. Potvin said in an interview. “Loss, mortality and even hopefulness were on my mind, and I found that through writing poetry I was able to express some of those concepts in a way that helped me process what I was thinking.”

In April, the National Association for Poetry Therapy, whose members include both medical doctors and therapists, is to hold a conference in Chicago with sessions on using poetry to manage pain and to help adolescents cope with bullying. And this spring, Tasora Books will publish “The Cancer Poetry Project 2,” an anthology of poems written by patients and their loved ones.

Dr. Rafael Campo, an associate professor of medicine at Harvard, says he uses poetry in his practice, offering therapy groups and including poems with the medical forms and educational materials he gives his patients.

“It’s always striking to me how they want to talk about the poems the next time we meet and not the other stuff I give them,” he said. “It’s such a visceral mode of expression. When our bodies betray us in such a profound way, it can be all the more powerful for patients to really use the rhythms of poetry to make sense of what is happening in their bodies.”

On return visits, Dr. Campo’s patients often begin by discussing a poem he gave them — for example, “At the Cancer Clinic,” by Ted Kooser, from his collection “Delights & Shadows” (Copper Canyon Press, 2004), about a nurse holding the door for a slow-moving patient.

How patient she is in the crisp white sails
of her clothes. The sick woman
peers from under her funny knit cap
to watch each foot swing scuffing forward
and take its turn under her weight.
There is no restlessness or impatience
or anger anywhere in sight. Grace
fills the clean mold of this moment
and all the shuffling magazines grow still.

In Ms. Potvin’s case, poems related to her illness were often spurred by mundane moments, like seeing a neighbor out for a nightly walk. Here is “Tumor”:

My neighbor walks
For miles each night.
A mantra drives her, I imagine
As my boys’ chant did
The summer of my own illness:
“Push, Mommy, push.”
Urging me to wind my sore feet
Winch-like on a rented bike
To inch us home.
I couldn’t stop;
Couldn’t leave us
Miles from the end.

Karin Miller, 48, of Minneapolis, turned to poetry 15 years ago when her husband developed testicular cancer at the same time she was pregnant with their first child.

Her husband has since recovered, and Ms. Miller has reviewed thousands of poems by cancer patients and their loved ones to create the “Cancer Poetry Project” anthologies. One poem is “Hymn to a Lost Breast,” by Bonnie Maurer.

Oh let it fly
let it fling
let it flip like a pancake in the air
let it sing: what is the song
of one breast flapping?

Another is “Barn Wish” by Kim Knedler Hewett.

I sit where you can’t see me
Listening to the rustle of papers and pills in the other room,
Wondering if you can hear them.
Let’s go back to the barn, I whisper.
Let’s turn on the TV and watch the Bengals lose.
Let’s eat Bill’s Doughnuts and drink Pepsi.
Anything but this.

Ms. Miller has asked many of her poets to explain why they find poetry healing. “They say it’s the thing that lets them get to the core of how they are feeling,” she said. “It’s the simplicity of poetry, the bare bones of it, that helps them deal with their fears.”


Have you written a poem about cancer? Please share them with us in the comments section below.
Read More..

Boeing asks FAA to allow Dreamliner test flights









Aerospace giant Boeing Co. has asked the Federal Aviation Administration to let it begin test flights on its grounded 787 Dreamliner passenger jet.

The new plane has been grounded since Jan. 16 by the FAA because of numerous incidents and high-profile fires involving the onboard lithium-ion batteries. Investigators around the world are looking into the matter.

The company disclosed its request for in-flight testing Monday in an email.

“Boeing has submitted an application to conduct test flights, and it is currently under evaluation by the FAA,” said Marc Birtel, a company spokesman, who would not comment further.

The FAA is reportedly looking into Boeing request, but would not comment.

The 787's battery systems were called into question Jan. 7 when a smoldering fire was discovered on the underbelly of a Dreamliner in Boston operated by Japan Airlines after the 183 passengers and 11 crew members had deplaned at the gate.

The National Transportation Safety Board is examining what went wrong. On Friday, the NTSB released its seventh update on the investigation into the lithium-ion battery systems. It said it has begun CT scanning the battery cells to examine their internal condition.

In addition, the NTSB disclosed that a battery expert from the Department of Energy joined the investigative team to lend additional expertise to ongoing testing.

In a separate incident Jan. 16 involving a 787 operated by All Nippon Airways in southwestern Japan, smoke was seen swirling from the right side of the cockpit after an emergency landing related to the plane's electrical systems. All 137 passengers and crew members were evacuated from the aircraft and slid down the 787's emergency slides.

The Japan Transport Safety Board, the country's version of the NTSB, is heading the investigation into All Nippon's emergency landing and reported fire.

No passengers or crew members were reported injured in the incidents. But the recent events have become a public relations nightmare for Boeing, which has long heralded the Dreamliner as a forerunner of 21st century air travel.

The 787, a twin-aisle aircraft that can seat 210 to 290 passengers, is the first large commercial jet with more than half its structure made of composite materials rather than aluminum sheets. It's also the first large commercial aircraft that extensively uses electrically powered systems involving lithium-ion batteries.

Boeing's lithium-ion batteries are made in Japan by Kyoto-based GS Yuasa Corp.

ALSO:


British troops use mini-drones to find targets on the battlefield


Airbus snags deal worth $9 billion, including order for 787 rival


Sea Launch mission fails; rocket, Intelsat satellite crash in ocean





Read More..

Overnight snow expected to snarl morning commute













Chilly Sunday on Montrose Harbor


Margaret Even of Rogers Park walks with her dog, Tilly, at Montrose Harbor on a chilly and sunny Sunday. Up to a half a foot of snow is expected to fall overnight, likely affecting Monday morning commuters.
(Jose M. Osorio/Chicago Tribune / February 3, 2013)



























































The winter's heaviest snowfall to date has arrived, and commuters could face a slow and slippery trip to work this morning.

With up to half a foot of snow possible, the National Weather Service has issued a winter weather advisory for the region that will remain in effect through noon today.


Forecasters expect the snow accumulation to range between two and five inches, with six inches possible in some places.


The city of Chicago deployed its full fleet of 284 snowplows overnight, according to the Department of Streets and Sanitation. The plows will focus first on main streets before working to clear side streets.





Officials are urging drivers to use caution.


Check back for more information.

chicagobreaking@tribune.com

Twitter: @ChicagoBreaking






Read More..

SUPER BOWL WATCH: Brotherly advice, Twitter buzz






NEW ORLEANS (AP) — Around the Super Bowl and its host city with journalists from The Associated Press bringing the flavor and details of everything surrounding the game:


___






BROTHERLY ADVICE: AARON RODGERS


Baltimore Ravens coach John Harbaugh and San Francisco 49ers coach Jim Harbaugh are hardly the only high-profile siblings who’ve squared off in their arena of expertise. The AP is asking some others who can relate how to handle going against a family member in the Super Bowl.


As the middle of three brothers, Green Bay Packers quarterback Aaron Rodgers knows a thing or two about high-stakes competitions with siblings. It wouldn’t matter if he was facing one of his brothers in the backyard or the sport’s biggest stage.


“I’d want to beat them pretty bad,” the 2011 NFL MVP said. “I really would.”


Less than two years separates Rodgers and his older brother, Luke, now on Fuel TV’s “Clean Break,” and the two are “very competitive.”


“My older brother and I had a lot of great matchups, great one-on-one games. We competed a lot in sports,” Rodgers said.


There’s still a chance Rodgers could wind up facing one of his brothers on the field, maybe even at the Super Bowl. Jordan Rodgers led Vanderbilt to its first nine-win record since 1915 last season and is now preparing for the NFL draft.


“I hope so,” Rodgers said of the prospects of a “Rodgers Bowl.” ”And I hope we would win if that ever happened.”


— Nancy Armour — http://twitter.com/nrarmour


___


TWITTER BUZZ BUILDING


Americans on Twitter are already buzzing about the Super Bowl with about 6 hours until the game kicks off.


Four terms related to the game between the Baltimore Ravens and San Francisco 49ers are trending in the United States: “Happy Super Bowl Sunday,” ”49ers,” ”Beyonce” and “Ray Lewis.”


None, however, are trending worldwide yet.


— Oskar Garcia — http://twitter.com/oskargarcia


___


GUN AD


Washington lawmakers watching the Super Bowl in the beltway are getting a 30-second visit from New York Mayor Michael Bloomberg’s gun control group.


Mayors Against Illegal Guns, a coalition of more than 900 mayors in 48 states, paid six figures for the local spot, according to a Bloomberg spokesman.


The ad calls on lawmakers to pass rules requiring background checks on guns. It is narrated by children with “America the Beautiful” playing in the background.


___


QUICKQUOTE: ANDREW LUCK


Andrew Luck has high praise for San Francisco 49ers coach Jim Harbaugh, his old coach at Stanford. Even if he did pick an unusual way to express it.


“I always enjoyed playing under coach Harbaugh. He always brought a lot of energy and enthusiasm,” the Indianapolis Colts quarterback said. “He was the type of guy you’d want in an alley fight with you. You could tell he wanted to win just as bad as the next guy.”


— Nancy Armour — http://www.twitter.com/nrarmour


___


EDITOR’S NOTE — “Super Bowl Watch” shows you the Super Bowl and the events surrounding the game through the eyes of Associated Press journalists across New Orleans and around the world. Follow them on Twitter where available with the handles listed after each item.


Social Media News Headlines – Yahoo! News





Title Post: SUPER BOWL WATCH: Brotherly advice, Twitter buzz
Url Post: http://www.news.fluser.com/super-bowl-watch-brotherly-advice-twitter-buzz/
Link To Post : SUPER BOWL WATCH: Brotherly advice, Twitter buzz
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Power outage electrifies CBS Super Bowl broadcast






NEW YORK (AP) — When the lights went out at the Super Bowl, CBS’ telecast got a jolt.


The power outage in the Super Dome in New Orleans sent the network scrambling and silenced its announcers for about half an hour. The remarkable scene — probably the most-watched “we’re having technical difficulties” moment in television history — also made CBS’ broadcast compelling at a time when the game was looking like a blow-out.






Early in the game’s second half, a portion of the Superdome lost power, including CBS’ broadcasting booth where Jim Nantz and Phil Simms were calling the game. It led to an awkward, ambient few moments of darkness and quiet in a broadcast that’s otherwise nonstop noise. A highly orchestrated media event was suddenly forced to improvise.


It took several minutes and numerous commercial breaks for CBS to find its footing and inform viewers of the situation. Social media went wild with a stream of joke conspiracy theories.


Eventually, CBS sideline reporter Steve Tasker — the MVP on the night, regardless of the play on the gridiron — announced the problem of a “click of the lights” to viewers. Later, the halftime crew anchored by host James Brown returned to fill time with football analysis. Brown said a power surge caused the outage.


That left the CBS NFL Today crew of Brown, Dan Marino, Bill Cowher and Shannon Sharpe to improvise by talking football. With little awareness of the power outage, the group bantered about the game to pad for time, even though viewers at that point had little interest in football strategy. Marino claimed halftime performer Beyonce knocked the lights out.


Calm and collected, Nantz and Simms finally returned from their unexpected exile as the lights came back on. Simms said he momentarily thought they were going to have to call the rest of the game from the sidelines.


“Hey, the next time you decide to plug in your phone charger, give us a warning, will you?” said Nantz.


“I was doing some of my best work during that blackout,” replied Simms.


CBS issued a statement later in the game, saying that “we lost numerous cameras and some audio powered by sources in the Super Dome.” The network said it used backup power and that “all commercial commitments during the broadcast are being honored.”


The power outage may have had the ironic effect of keeping viewers glued to their TVs, amazed at seeing the biggest TV event of the year momentarily shut down. At the time of the outage, the game was becoming a rout, with the Baltimore Ravens beating the San Francisco 49ers 28-6.


But afterward, momentum shifted and the 49ers rallied, making it a close game that went down to the wire before the Ravens edged out a 34-31 victory. Close contests are essential for retaining a big Super Bowl audience, so the shift that followed the outage held major ratings implications for CBS. The last three years, the game has successively set viewership records. Last year’s Super Bowl drew 111.3 million average viewers for NBC.


But ratings are a mere point of pride for CBS, with the ads sold-out well in advance, (some at more than $ 4 million a pop). The game was also streamed live on both CBSSports.com and NFL.com.


The chaos of the power failure outshined all other aspects of CBS’ broadcast, which had seemed certain to focus on a handful of storylines: the head coaching brothers John and Jim Harbaugh (CBS scored their parents on the pregame); the threat to player safety by head injuries (a pregame segment took an optimistic view); and Ray Lewis’ final game and fraught legacy.


Nantz reminded viewers during the game of the 2000 double murder case in which Lewis testified against two men and pleaded guilty to a misdemeanor charge of obstruction of justice. But Sharpe, Lewis’ former teammate, let him completely evade the subject in a pregame interview.


Nantz also smartly predicted the Ravens possibly taking a safety willingly at the end of the game for the sake of time and field position. Simms initially dismissed the idea, but it was what the Ravens elected to do and it was successful.


CBS didn’t overplay the Harbowl angle (if anything, it felt more like the Beyonce Bowl), and didn’t flash to the parents in the crowd until the second quarter. Director Mike Arnold did land the money shot of the game: The two coaches embracing at midfield after the game. (Its cameras and microphones also caught Ravens quarterback Joe Flacco celebrating with profanity.)


But this year’s Super Bowl broadcast will be remembered for the blackout — how CBS handled and benefited from an awkward situation. Nantz put the fitting final word on the Ravens’ win: “The adversity they faced tonight was to somehow rekindle the energy after it had been taken — literally — out of the building.”


___


Follow AP Entertainment Writer Jake Coyle on Twitter at: http://twitter.com/jake_coyle


Entertainment News Headlines – Yahoo! News





Title Post: Power outage electrifies CBS Super Bowl broadcast
Url Post: http://www.news.fluser.com/power-outage-electrifies-cbs-super-bowl-broadcast/
Link To Post : Power outage electrifies CBS Super Bowl broadcast
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Medicines Co. Licenses Rights to Cholesterol Drug



The drug, known as ALN-PCS, inhibits a protein in the body known as PCSK9. Such drugs might one day be used to treat millions of people who do not achieve sufficient cholesterol-lowering from commonly used statins, such as Lipitor.


The Medicines Company will pay $25 million initially and as much as $180 million later if certain development and sales goals are met, under the deal expected to be formally announced Monday. It will also pay Alnylam, which is based in Cambridge, Mass., double-digit royalties on global sales.


That is small payment for a drug with presumably a huge potential market, probably reflecting that Alnylam is still in the first of three phases of clinical trials, well behind some far bigger competitors.


The team of Sanofi and Regeneron Pharmaceuticals is already entering the third and final stage of trials with their PCSK9 inhibitor, as is Amgen. Pfizer and Roche are in midstage trials.


ALN-PCS is different from the other drugs. It uses a gene-silencing mechanism called RNA interference, aimed at shutting off production of the PCSK9 protein. The other drugs are proteins called monoclonal antibodies that inhibit the action of PCSK9 after it has been formed.


Alnylam and the Medicines Company hope that turning off the faucet, as it were, will be more efficient than mopping the floor, allowing their drug to be given less frequently and in smaller amounts.


But that has yet to be proved. No drug using RNA interference has reached the market.


The Medicines Company, based in Parsippany, N.J., generates almost all of its revenue from one product — Angiomax, an anticlotting drug used when patients receive stents to open clogged arteries.


Dr. Clive A. Meanwell, chief executive of the company, said that PCSK9 inhibitors are likely to be used at first mainly by patients with severe lipid problems under the care of interventional cardiologists, the same doctors who use Angiomax. “It really is quite adjacent to what we do,” he said.


The Medicines Company licensed Angiomax from Biogen Idec, where the drug was invented and initially developed under a team led by Dr. John M. Maraganore, who is now the chief executive of Alnylam.


“It’s a bit like getting the band back together,” Dr. Maraganore said.


Read More..

Battle between Cubs, rooftop owners is best viewed from sidelines








From the Super Bowl to the sandlot, just as surely as players give 110 percent, the math of sports is always suspect.


Sports isn't like other businesses. What other investment becomes more attractive because of its unpredictability? Revenue can always be accounted for, but what of ego, pride, loyalty, stubbornness or even the microns that separate a catch from a muff?


In no other industry does a perennial also-ran continue to see its value increase.






That's why it's a mistake to get too wrapped up in the dispute between the wealthy Ricketts family that owns the Chicago Cubs and the owners of buildings adjacent to Wrigley Field who have turned their rooftops into garish, outsize extensions of the bleachers?


If it's just money, there's a price — and if there's a price, there's a solution to be worked out. If it's a game, the drama is best enjoyed with healthy detachment because logic may or may not dictate the outcome.


Like a hockey fight, one or both combatants will eventually run out of gas, then will be penalized with the loss of time and opportunity.


"What we are trying to do is resolve this right now," Jim Lourgos, one of the rooftop club owners, said recently during a visit to Tribune Tower. "If you're in court on something like this, my feeling has always been that by the time you're in court, you've already lost."


Unless, say, you're trying to run out the clock. But enough with the sports metaphors.


At the center of this dispute, for those late arrivals to this fight, is a nearly 99-year-old ballpark long overdue for a rehab. Wrigley must be brought into the 21st century, in the interest of the team but also all those who benefit from its standing as a tourist magnet, including those peddling rooftop seats.


The Ricketts family is said to finally have abandoned its quest for taxpayer help in funding the project.


It is true other sports franchises in town have received taxpayer help to build facilities that enrich their owners, but every bad idea has to end somewhere. This would at last be consistent with the philosophy of patriarch Joe Ricketts, who has said he considers it "a crime for our elected officials to borrow money today to spend money today and push the repayment of that loan out into the future on people who aren't even born yet."


Rather than hitting up the cash-strapped city and state, the Ricketts clan instead wants help in the form of concessions such as a relaxation of landmark restrictions and city ordinances that limit such matters as the number of night games and ads in the ballpark. They also want to turn one of the streets into a pedestrian mall.


The rooftop interests, which kick 17 percent of their revenue back to the Cubs as part of a nine-year-old settlement with the team, are terrified the loosened restrictions will result in their views of the ballpark being blocked by advertising signs.


Never mind that Wrigley Field itself has many seats with obstructed views, thanks to support posts.


The rooftoppers have offered to put advertising on their building facades with the money going to the team and city. And they think they have leverage via the 2004 contract they signed with then-Cubs owner Tribune Co. (Yes, that's the same Tribune Co. that owns the Chicago Tribune and still has a small piece of the ballclub.) They think they can parlay this into an extension of their current agreement with the team to 2023.


But the contract allows that "any expansion of Wrigley Field approved by governmental authorities shall not be a violation" of the deal, which means if Mayor Rahm Emanuel gets behind the Ricketts, look out.


Rooftop owners talk about the taxes they pay, the people they employ, the money they've invested to make their businesses safe and viable, the character they add to the neighborhood.


The basic argument, however, still seems a little like when your neighbor with the big-screen TV decides to start watching with the drapes closed on what's become movie night at your house. It's bad form to complain that they not only shouldn't shut the drapes but should open the window and turn up the volume so you and the people in your living room you've charged $1 a head can make out the dialogue better.


At the same time it's hard to sympathize with the Ricketts family, which invested $850 million to acquire the team and ballpark, effectively creating a family trust that's a tax-efficient structure for protecting and eventually distributing wealth across generations. It's not as though these people didn't know Wrigley Field was in need of work or the deals in place with the rooftop clubs. They ought to be able to come up with the cash to make this happen, with or without advertising.


That deal is really something, though. For example, the contract calls for the Cubs to help hype them in a variety of ways, advancing the argument that the rooftop clubs are part of the appeal of Wrigley.


There's a requirement that "WGN-TV will show and comment upon the Rooftops' facilities during the broadcasts of Cubs games and the Cubs will request other Cubs television broadcasting partners to do the same." There's also a mandate for the team to "include a discussion about the Rooftops on their tour of Wrigley Field" and to include stories positive about the Rooftops in The Vine Line," the team's publication.


What you won't read in The Vine Line is that this fight, like the ballpark itself, is a fight over something that may increasingly be quaint in the coming decades. The Los Angeles Dodgers last week announced a $7 billion, 25-year deal for their own cable channel, following the example of the New York Yankees, which already have their own.


With that kind of money coming in via television, the pressure to make money from ticket sales may be relieved somewhat, turning the stadiums into glorified studios. But that may be too logical for sports. For one thing, it assumes that player salaries won't escalate in response as owners ditch their budgets in order to get an edge that may or may not materialize.


That's the thing about sports. You never know how the numbers will add up.


philrosenthal@tribune.com


Twitter @phil_rosenthal






Read More..