What’s New

Marcus chain cancels its plan to reopen in those suburbs, citing “updated metrics” from the state about coronavirus cases.

Two suburban movie theaters that had announced plans to reopen Friday, during a state ban on theater operations, ended up keeping the doors closed.

The Marcus theaters in Addison and Elgin had been selling tickets for Friday screenings, and a spokeswoman for the Milwaukee-based chain told the Sun-Times Friday morning that the company believed the region where they are located “has met all criteria to have Marcus Elgin and Addison Cinemas reopen.”

But by early afternoon, the two theaters were offering refunds for tickets and prepaid concessions. “Please be advised due to updated metrics provided by the Illinois Department of Health we will not be opening as scheduled today,” said a notice on their Facebook pages.

Movie theaters in Illinois have been shuttered since November, when Gov. J.B. Pritzker ordered them closed as part of the state’s effort to slow a resurgence of coronavirus cases. Meanwhile, theaters across the border in Wisconsin and Indiana are open for business.

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Brian Loevner thinks arts organizations should consider new ways to survive—and close.

This is the first of two columns that will examine the ideas of “cultural triage.” We’re heading toward the one-year anniversary of the COVID-19 shutdown, and for most Chicago cultural organizations, reopening remains a semi-distant hope, dependent on how quickly vaccines can be delivered, and on how soon the companies can ramp back up to full production.…Read More

In the end, there were no surprises from the Chicago Bears. The band is back together again for at least one more season.  Matt Nagy and  Ryan Pace will return for year four and seven respectively. Team President Ted Phillips heads into year 23. While this excites exactly no one, it has always felt like […]

Upon further review, Chicago Bears brass ran out of courage – Da Windy City – Da Windy City – A Chicago Sports Site – Bears, Bulls, Cubs, White Sox, Blackhawks, Fighting Illini & More

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Based on the documents released today and a quote from IHSA Executive Director Craig Anderson, there won’t be a basketball season.

Today was confusing. Documents were emailed to media. Websites that allegedly outline the state’s entire sports policy during coronavirus weren’t updated (and then they were). The Illinois High School Association had a last-minute meeting with Deputy Gov. Jesse Ruiz.

We’re still waiting on the full news from that meeting. So far the only thing that is certain is that low-risk sports will be allowed in the regions of the state that moved to Tier 2 today (Rockford, Peoria, southern Illinois).

But if you look closely at one of the documents sent to the media from Pritzker’s office it becomes very clear the outlook for any high school basketball or football this school year is very bleak.

Basketball and football are both high risk sports. According to the chart Pritzker’s office released today (see below), high risk sports will not be allowed to play games in Tier 2 or when things move to Tier 1.

The next rollback step after Tier 1 is called Phase 4. In order for regions to rollback to Phase 4 three things are required:

-Test positivity rate below 6.5% for 3 consecutive days (7-day average).

-Staffed hospital and ICU beds availability greater than 20% for 3 consecutive days (3-day average).

-No sustained increase in COVID patients in hospital (7-day average over 7 of 10 days).

Illinois moved to Phase 4 on June 26, 2020. The state remained there until Pritzker moved the entire state all the way back to Tier 3 on Nov. 20 as COVID-19 spiraled.

Is it possible the state could be back in Phase 4 by March or April? Sure, things are trending well now. But football and basketball were not allowed during Phase 4 in 2020. That means Pritzker would have to change his mind on the Phase 4 rules. If we even get to Phase 4.

“Deputy Governor Ruiz was not clear today about what getting to Phase 4 would mean for the high-risk sports,” IHSA Executive Director Craig Anderson said. “He indicated that there could be a potential differentiation for football versus basketball because football is outdoors. The new All Sports Policy permitting an adjustment in playing levels going from Tier 2 to Tier 1 makes me think that a move to Phase 4 could create another adjustment, but IDPH or the Governor’s office would need to confirm that.”

Anderson’s quote makes it clear that basketball isn’t happening this school year. Football seems to have a slight chance.

The governor’s office has not responded to a request to confirm what Phase 4 would mean for high-risk sports.

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For the first time since 1957, City Council has authorized the construction of new ADUs. Before the swell of development, here are five existing units on the market.Read More

The Setting

The Chicago Mercantile Exchange, a.k.a. the Merc. What began as the Chicago Butter and Egg Board in 1898 is now a labyrinthine network for futures trading in sectors including agriculture, real estate, and metals. Futures trading — no shame in not knowing! — is the practice of betting on the future price of commodities in order to manage financial risk. It’s basically fantasy football for capitalists.

The Key Players

• Farmers, municipalities, and us People who need water to survive and/or stay in business. So, all of humanity.
• CME Group The financial services giant that owns the Merc, the Chicago Board of Trade, the New York Mercantile Exchange, and more. It decides what commodities are traded at the Merc.
• Water rights activists Including Pedro Arrojo-Agudo, the United Nations’ special rapporteur on the human rights to safe drinking water and sanitation. (Try putting that on a business card.)

The Crisis

Thanks to global warming, our water supply is declining. According to UN research, by 2025, two-thirds of the global population will face water shortage to some degree, with 1.8 billion people living in “absolute water scarcity.” And only last year did California emerge from an eight-year drought, which resulted in massive crop losses. It also resulted in Amy Poehler getting fined for using 170,000 gallons of water in two months, which is neither here nor there.

This is indisputably a problem for, you know, humanity at large. But those dealing most immediately with the issue are farmers and townships whose existence hinges on an affordable water supply. As available water goes down and demand stays constant (because we literally always need water to survive), prices rise. How can municipalities and businesses budget for water as the world gets hotter?

The Dispute

The CME Group believes it has an answer: futures trading. As of December, water has joined gold, oil, wheat, and bitcoin on the Merc as a traded commodity. Now cities and farmers can buy futures in California’s water, meaning they can hedge against (or bet on) rising water prices out west, based on the Nasdaq Veles California Water Index, which tracks the current market price of the five largest water supplies in the state. Proponents see this as a tool to help manage water supply risk, a way of softening the blow to farmers and cities as water gets scarcer. So far, only the Golden State’s water supply is being traded; it’s sort of a test run.

OK, great! Wait, no. The thing is, traders, banks, and hedge funds can also bet on California’s water supply. That means commodities traders could financially benefit from another West Coast drought — and from the country’s and the world’s vanishing H₂O, too, if the water supplies of other states and nations are added to the CME. Water activists are extremely not into the new development at the Merc. “You can’t put a value on water as you do with other traded commodities,” Arrojo-Agudo told the UN in December, describing the water futures market as an existential threat to water as a human right. Other climate justice activists have described the futures contracts as a cynical attempt to profit off scarcity. No getting around it: This is dark.

The Stakes

Is water futures trading an opportunity for farmers and municipalities to plan their budgets in an uncertain time? Or is it simply late-stage capitalism leeching our climate’s final gasps for breath? Perhaps both; it’s too soon to tell.

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“Multidisciplinary artist Jas Petersen had a show a few years ago, and I bought a piece for about $5,000. She called it Last Night I Hung Out With the Moon. (She Told Me About the Sun. I Told Her About You.). It felt true to my soul. Later, she and I met at Soho House and instantly connected. Jas told me that when she first saw me at the show, she had envisioned me owning that painting. Since then, I had her do a custom job on a leather vest — it’s two girls’ faces and says ‘Riots Not Diets.’ Her work is energetic and lighthearted with an airy mood. The painting sits above my bed like a dream catcher. My hours are insane for work, and it’s beautiful to be able to see something every day that brings calm and ease. jaspetersen.com

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