CHICAGO | Economic & Business Development

[marothisu]

Funny. I was thinking for awhile "what if Amazon offered a few of the runner ups small but still significant offices or expansions." Maybe 500 or a thousand or two. Not as many as 25,000 or 50,000 but even a few thousand would be cool for any city. Less in the way of tax breaks too.

Kind of curious to see if this would happen to anybody.

[the urban politician]

I put my money on NY and Virginia not getting anywhere near 25,000 jobs each when all is up and running.

This will end up being a giant scam

[Kenmore]

amazon news isn't unexpected but it's still GREAT to hear, major win for chicago

[emathias]

Originally Posted by marothisu

...
One moment I remember at LGA was coming back home during Lollapalooza weekend Thursday evening. These girls were so excited that they got "group 2" boarding. Their reaction was priceless when they saw 3/4 of the plane board before. All business travelers.
...

I always get at least Group 2 on United because I hold their Visa, but it's become rather meaningless. I think it's odd they even bother to have more than three groups given how most of their flights actually get boarded. The only plus to always getting Group 2 is that it usually means that, even with all those business travelers going first, there's enough room for my carry-on.

[marothisu]

Originally Posted by emathias

I always get at least Group 2 on United because I hold their Visa, but it's become rather meaningless. I think it's odd they even bother to have more than three groups given how most of their flights actually get boarded. The only plus to always getting Group 2 is that it usually means that, even with all those business travelers going first, there's enough room for my carry-on.

Yeah, it really depends on when you travel and between what cities but between/from a few it's pretty much pointless except for the overhead space. Monday morning, Thursday afternoon, etc from/to cities like Chicago, NYC, Boston, DC, Atlanta, Dallas, etc pretty much pointless - you aren't going to get on the plane fast unless you have higher status. I stopped traveling nearly 2 years ago now, but still have some status and literally the only reason I find it useful is for the overhead space issues. I have pre-check (get it if you don't have it) so as long as the airport has it and it's open (F*ck LGA on this - they close the line at like 7pm - so dumb and there's pretty much no such thing as priority line at the American terminal anyway), the priority security line doesn't even matter anymore.

[Tom In Chicago]

Originally Posted by emathias

I always get at least Group 2 on United because I hold their Visa, but it's become rather meaningless. I think it's odd they even bother to have more than three groups given how most of their flights actually get boarded. The only plus to always getting Group 2 is that it usually means that, even with all those business travelers going first, there's enough room for my carry-on.

Yeah. . . the United Visa card is good for the boarding group, checked bag and Untied Club passes (although you're essentially buying them at the end of the day) but it's still worth it for the miles that I accumulate. . .

Also I wonder where these people buy tickets from that are in boarding group 5. . . I mean, really???

. . .

[twister244]

Originally Posted by Tom In Chicago

Also I wonder where these people buy tickets from that are in boarding group 5. . . I mean, really???

. . .

That's for the "basic economy" folks...... Don't ever do that if you don't have to.

[marothisu]

Originally Posted by Tom In Chicago

Yeah. . . the United Visa card is good for the boarding group, checked bag and Untied Club passes (although you're essentially buying them at the end of the day) but it's still worth it for the miles that I accumulate. . .

Also I wonder where these people buy tickets from that are in boarding group 5. . . I mean, really???

. . .

Oh yeah - forgot the checked bag perks. Those are nice too. Where are they buying from? Just normally online or through like Cheap-O-Air or something like that. I always feel bad for them. American Airlines doesn't even hide the fact anymore that they won't get overhead baggage space. They will announce now if you are in one of the last groups, then you should just check your bag in for free basically on flights to or from a city with a lot of business travelers.

By the way, does the United card get you into the business class lounge if you are traveling internationally?

[SIGSEGV]

Originally Posted by Stockerzzz

Us Group 5 people pay cash via debit cards for airline tickets. We don't revolve short term debt at 19% APR. We don't pay $95 annual fees every year. And we don't try to impress others with a plastic card in our wallet that allows us to rack up debt while spending 12-18% more on each purchase than someone paying cash.

The average American has $6,375 of credit card debt, but let me guess: everyone here pays off the balance in full every month.

Group 5!

I have credit cards (that I pay off every month), but still group 5... even if I'm charging it to the grant because any money spent on travel is less money to pay me or buy equipment...

[Via Chicago]

Originally Posted by Stockerzzz

The average American has $6,375 of credit card debt, but let me guess: everyone here pays off the balance in full every month.

i do and always have. and i get sign up bonuses, points, de facto rental/trip insurance, purchase protection, and an 800+ credit score ¯\_(ツ)_/¯

If you have the discipline to pay it off every month, it seems silly to use cash or debit instead. If you don't have the discipline or are prone to overspend beyond your means, than sure cut up the plastic. Whatever works for you is the correct answer, but it is possible to use CCs responsibly (and to your benefit)

[LouisVanDerWright]

I have businesses where we spend a shit ton on expenses and can use cards responsibly and just rack up mountains of points. I basically run a big chunk of materials purchases for my rehabs through my AMEX and pay it off literally same day since I am constantly drawing on my construction line to pay those expenses anyhow. I also put my car down payment on my card and we put our entire wedding on cards. We paid all the bills off immediately and now have huge credit limits and lots of points. We were able to cover almost our entire honeymoon with points, basically only had to pay for stuff we actually bought while there since the hotels and flights were covered with points. If you use cards responsibly you win as the consumer.

[LouisVanDerWright]

Originally Posted by Stockerzzz

Debit cards have the same purchase protection.



Using credit cards reduces the friction in each purchase which encourages overspending. Sure, you may think the points are worth it and you're outsmarting Visa (market cap: $319B) and Mastercard (market cap: $209B), but you're spending more than you normally would by using credit.



If you get 2% cash back, you need to spend $100,000 on credit cards to make $2,000. But at the same time you just overspent by 12-18%.

Don't confuse the fact that people with access to financial institutions tend to be higher income and more likely to spend more money with a "cash discount". People aren't spending more at McDonald's with a credit card because MCD is upcharging them for using a card. They are spending more because people with cards tend to have more money and therefore spend more money. Think of it this way, zero percent of panhandlers who drop into McDonald's for a meal use credit. Their bill is probably whatever change they've managed to gather. That has nothing to do with the benefits of cards vs cash.

[Vlajos]

Originally Posted by Stockerzzz

Us Group 5 people pay cash via debit cards for airline tickets. We don't revolve short term debt at 19% APR. We don't pay $95 annual fees every year. And we don't try to impress others with a plastic card in our wallet that allows us to rack up debt while spending 12-18% more on each purchase than someone paying cash.

The average American has $6,375 of credit card debt, but let me guess: everyone here pays off the balance in full every month.

Group 5!

I have never paid $0.01 in interest on a credit card. I never will and it's our primary form of paying for everything.

[Tom In Chicago]

Us Group 5 people pay cash via debit cards for airline tickets.

That's what gets you into Group 5??? Does not compute. . .

We don't revolve short term debt at 19% APR.

I couldn't tell you what my APR is because I don't care. . . I pay the balance off every month. . .

We don't pay $95 annual fees every year.

And you don't get two United Club passes annually either, nor do you get boarding group 2, a free checked bag or frequent flyer mile bonuses on United. . .

And we don't try to impress others with a plastic card in our wallet that allows us to rack up debt

Who am I trying to impress?

. . .

[Tom In Chicago]

Originally Posted by Kenmore

amazon news isn't unexpected but it's still GREAT to hear, major win for chicago

I think by "major win" you really mean dodged a bullet. . .

. . .

[ardecila]

^ I agree, the generous offers from cities/states were premised on them landing the whole enchilada. If Amazon comes back to Chicago with a smaller proposal, they shouldn’t get one dollar of incentives. If they really see value in spreading their operations among many cities in different regions of the US, then they need Chicago more than we need them...

Also this does not bode well for Lincoln Yards. With direct Red Line access, The 78 might be able to squeak by like Lakeshore East and Central Station did, by downscaling or eliminating the office component and creating a unique, compelling residential neighborhood where people will want to live. At Lincoln Yards, though, Amazon was the only force with a chance of holding back the NIMBYs. I think we’ll continue to see expansion of the CBD into Fulton Market but not necessarily to other new areas.

[k1052]

I'd suspect that Sterling Bay/JP Morgan has a plan B and plan C for Lincoln Yards.
The rest of the big developments feel more tentative.

I'm curious to see if the leasing logjam breaks now that Amazon has finally decided. Lots of big names looking for space.

[the urban politician]

Originally Posted by k1052

I'd suspect that Sterling Bay/JP Morgan has a plan B and plan C for Lincoln Yards.
The rest of the big developments feel more tentative.

I'm curious to see if the leasing logjam breaks now that Amazon has finally decided. Lots of big names looking for space.

Hmmm I don't know, I agree with emathias that "The 78" has the edge over Lincoln Yards right now, at least location-wise

[k1052]

Originally Posted by the urban politician

Hmmm I don't know, I agree with emathias that "The 78" has the edge over Lincoln Yards right now, at least location-wise

Not if you don’t have a huge anchor. You could start knocking chunks of LY off for residential tomorrow and do great if the approvals were in hand. Though I think they are still courting Amazon alternatives...

[IrishIllini]

Originally Posted by the urban politician

Hmmm I don't know, I agree with emathias that "The 78" has the edge over Lincoln Yards right now, at least location-wise

Wasn't it ardecila that said the 78 had a better location? They're both two of my favorite posters, so I'm fine agreeing with either. I think Lincoln Yards and the north branch in general are well suited for robotics/AI labs and start-ups. I'm imagining a live-work district with showrooms for the public to check out emerging technology and buy stuff. That may slow or prevent the mega developments from taking hold. I don't see how these areas are attractive to major corporations without major infrastructure improvements. Even then it's hard to see how it competes with the 78 site. Interestingly enough, it's the same distance between Goose Island and Ogilvie as it is between the 78 and Ogilvie (1.4 mi). Union is a bit closer to the 78.