CHICAGO | Economic & Business Development - Page 129

SIGSEGV · #**2561** Posted **Jan 24, 2019, 6:09 AM**

Quote:

Originally Posted by emathias

Are there any currencies left that do have intrinsic value?

Sure, but unlike the dollar, the crypto is not backed by any state with a federal reserve and its ability to pay for things is not great compared to... regular money (probably the majority of crypto purchases are illicit in nature). It's a pure speculative phenomenon. As long as the firms understand that and can outsmart the "investors" I guess it's as legit away of making money as any other sort of finance...

LouisVanDerWright · #**2562** Posted **Jan 24, 2019, 2:20 PM**

Crypto has already outlived its purpose which was to funnel as much money out of China as quickly as possible. Now that the Chinese authorities have figure out how to clamp down on that, the value has collapsed. Block chain is certainly a useful technology, but the crypto bubble was driven almost entirely by capital flight from China and speculation.

marothisu · #**2563** Posted **Jan 24, 2019, 4:18 PM**

Quote:

Originally Posted by LouisVanDerWright

Crypto has already outlived its purpose which was to funnel as much money out of China as quickly as possible. Now that the Chinese authorities have figure out how to clamp down on that, the value has collapsed. Block chain is certainly a useful technology, but the crypto bubble was driven almost entirely by capital flight from China and speculation.

Block chain is not necessarily new technology. It's a distributed database basically, which has been around for a few decades at least. It can be useful due to some things hinging around security, but about 90% of uses people have done are not necessary. These are the same people who like to show everyone how "smart" they are by using new buzzwords and technology even when the optimal solution necessary doesn't require it.

the urban politician · #**2564** Posted **Jan 24, 2019, 4:34 PM**

Today's Crains mentions that the owner of the top unit of the Trump Tower (Indian guy from Barrington named Sanjay Shah) will be opening a Chicago office in Fulton Market for his suburban tech company.

Reason stated is attracting talent. Looks like the slow migration is beginning...

marothisu · #**2565** Posted **Jan 24, 2019, 5:36 PM**

Quote:

Originally Posted by the urban politician

Today's Crains mentions that the owner of the top unit of the Trump Tower (Indian guy from Barrington named Sanjay Shah) will be opening a Chicago office in Fulton Market for his suburban tech company.

Reason stated is attracting talent. Looks like the slow migration is beginning...

The name of his company is Vistex. He got a $65M initial investment with a potential extra $40M for the future from Accel-KKR which is a VC firm in Silicon Valley.

The Tribune article says they are going to use it to go public one day maybe so they need to expand. They already have 300 employees in the Chicago area and 1500 globally. Their revenue is $250M per year. It said they'd double that chicago area headcount to 600, most likely in Fulton Market.

Great news.

Vlajos · #**2566** Posted **Jan 24, 2019, 5:41 PM**

Quote:

Originally Posted by the urban politician

Today's Crains mentions that the owner of the top unit of the Trump Tower (Indian guy from Barrington named Sanjay Shah) will be opening a Chicago office in Fulton Market for his suburban tech company.

Reason stated is attracting talent. Looks like the slow migration is beginning...

Quote:

Originally Posted by marothisu

The name of his company is Vistex. He got a $65M initial investment with a potential extra $40M for the future from Accel-KKR which is a VC firm in Silicon Valley.

The Tribune article says they are going to use it to go public one day maybe so they need to expand. They already have 300 employees in the Chicago area and 1500 globally. Their revenue is $250M per year. It said they'd double that chicago area headcount to 600, most likely in Fulton Market.

Great news.

Yeah, this was buried on the Tribune website. Here's a link for those interested.

https://www.chicagotribune.com/busin...123-story.html

the urban politician · #**2567** Posted **Jan 24, 2019, 5:56 PM**

Posted elsewhere:

Quote:

Originally Posted by marothisu

Also, according to a new JLL report, Chicago was 9th in the world in CRE investment. NYC was 2nd, LA was 6th, and Miami was 22nd. The CRE investment in Chicago increased by 61% compared to 2017, which was better than NYC's 50% increase. LA had a decrease of 27%. In 2017, Chicago was 15th in the world. Now it's gone to top 10

https://therealdeal.com/miami/2019/0...n-2018-report/

SIGSEGV · #**2568** Posted **Jan 24, 2019, 5:57 PM**

He could probably wingsuit to work that way

marothisu · #**2569** Posted **Jan 24, 2019, 6:31 PM**

Oops

Also, according to a new JLL report, Chicago was 9th in the world in CRE investment. NYC was 2nd, LA was 6th, and Miami was 22nd. The CRE investment in Chicago increased by 61% compared to 2017, which was better than NYC's 50% increase. LA had a decrease of 27%. In 2017, Chicago was 15th in the world. Now it's gone to top 10

https://therealdeal.com/miami/2019/0...n-2018-report/

jpIllInoIs · #**2570** Posted **Jan 25, 2019, 8:03 PM**

Lipinski Named Chairman of Congressional Subcommittee on Railroads, Pipelines and Hazardous Materials Jan 24
Lipinski's subcommittee's jurisdiction includes all federal laws and programs regulating railroad transportation, including railroad safety, rail infrastructure programs, economic regulation, and railroad labor laws, as well as all federal laws and programs regulating the safety of gas and liquid pipelines and the safety of transporting material and hazardous freight.

Lipinski has been successful bringing in $$$ for CTA and CREATE programs, should contiue that as the Chairman

emathias · #**2571** Posted **Jan 26, 2019, 8:06 PM**

Quote:

Originally Posted by jpIllInoIs

Lipinski Named Chairman of Congressional Subcommittee on Railroads, Pipelines and Hazardous Materials Jan 24
Lipinski's subcommittee's jurisdiction includes all federal laws and programs regulating railroad transportation, including railroad safety, rail infrastructure programs, economic regulation, and railroad labor laws, as well as all federal laws and programs regulating the safety of gas and liquid pipelines and the safety of transporting material and hazardous freight.

Lipinski has been successful bringing in $$$ for CTA and CREATE programs, should contiue that as the Chairman

I wish they'd just fully fund CREATE. For what it is, it's not all that much money in the big picture.

k1052 · #**2572** Posted **Jan 27, 2019, 2:41 PM**

Quote:

Originally Posted by emathias

I wish they'd just fully fund CREATE. For what it is, it's not all that much money in the big picture.

Agreed. It's a fairly small dollar amount now in comparison to all the benefits gained between commuters and freight rail operators.

Lipinski is also going to pressure Amtrak on the CUS rehab which has so far entirely shorted Metra even though they are such a huge portion of the traffic. The platform width issues on the south side (BNSF) and concourse circulation should be high priority items.

the urban politician · #**2573** Posted **Jan 28, 2019, 3:22 PM**

From Crains today about Common Spirit Health which is about to be based here:

https://www.chicagobusiness.com/heal...join-big-blues

pullmanman · #**2574** Posted **Jan 28, 2019, 9:59 PM**

Great news on a local tech company expanding, with new job postings available now and a larger leased space commensurate with continued growth!

Quote:

G2 Crowd, which launched in 2013 and today houses most of its roughly 250 total employees in Chicago, signed a deal to lease 66,000 square feet at 100 S. Wacker Drive, a company spokesman confirmed.

That marks a drastic expansion from the roughly 20,000 square feet it leases today in the Civic Opera House, 20 N. Wacker Drive. The company has more than doubled its headcount in the past year and projects its staff will surpass 500 by 2023, the spokesman said, which called for finding room to grow.

With approximately 100 open jobs on our job site, now was the right time to relocate the G2 campus to our new home in 100 S. Wacker

the urban politician · #**2575** Posted **Jan 30, 2019, 6:48 PM**

Tech company expanding downtown:

https://www.chicagobusiness.com/comm...est-loop-lease

Kenmore · #**2576** Posted **Jan 30, 2019, 7:05 PM**

lol @ anyone who believed the foxconn news when it broke, embarrassing stuff

the urban politician · #**2577** Posted **Jan 30, 2019, 7:49 PM**

Cinespace Studios to pick up 2 new Amazon and Netflix series:

https://patch.com/illinois/westside/...x-amazon-shows

Interestingly, one of these shows is set in LA. Think about that—a show based in LA being filmed in Chicago!

LouisVanDerWright · #**2578** Posted **Jan 30, 2019, 9:01 PM**

Quote:

Originally Posted by the urban politician

Cinespace Studios to pick up 2 new Amazon and Netflix series:

https://patch.com/illinois/westside/...x-amazon-shows

Interestingly, one of these shows is set in LA. Think about that—a show based in LA being filmed in Chicago!

And there's the Netflix rumor, Cinespace is building more studios at 31st and Kedzie for this Netflix show according to the article. I heard they bought a building over on Kedie the other day, didn't connect it to the rumors posted here about Netflix.

tjp · #**2579** Posted **Jan 30, 2019, 9:04 PM**

What was the Netflix rumor? Something about moving production here from Atlanta?

SIGSEGV · #**2580** Posted **Jan 30, 2019, 9:05 PM**

Quote:

Originally Posted by the urban politician

Cinespace Studios to pick up 2 new Amazon and Netflix series:

https://patch.com/illinois/westside/...x-amazon-shows

Interestingly, one of these shows is set in LA. Think about that—a show based in LA being filmed in Chicago!

https://www.google.com/maps/@41.9855...7i16384!8i8192