Just two months into the baseball season, the Cubs are exceeding fans' expectations and creating a national buzz with one of the best records in the National League. But, quietly, progress also is being made off the field as team Chairman Tom Ricketts methodically moves to gain further control of the neighborhood streets just beyond the walls of Wrigley Field and win his battle with the rooftop businesses that help define the Wrigley vibe. His latest coup came earlier this month, records show, when an entity controlled by the Ricketts family bought three more rooftop buildings on Sheffield Avenue, bringing to six the number the family now owns. The Ricketts family paid Sheffield Finance an undisclosed price for the buildings at 3637 N. Sheffield which was torn down and rebuilt just for the rooftop business 3617 N. Sheffield and 3619 N. Sheffield, Cook County property records show. The Ricketts family will assume no debt on the buildings. A sale was expected after a federal judge last month dismissed a foreclosure lawsuit against the businesses. In November, Fifth Third Bank sued the rooftop operations and their owners, alleging that the businesses owed more than $18 million on mortgages and missed payments. Sheffield Finance later bought a portion of the debt and replaced the bank as plaintiffs in the case. Sheffield Finance is an entity owned by Jerry Lasky and Murray Peretz, partners in Spectrum Real Estate, a Chicago commercial real estate business. "I always felt these rooftops were an extension of Wrigley Field and they belong with the Ricketts family," said Lasky, who called himself a diehard Cubs fan. "It was a natural fit." The Rickettses have held a financial interest in a seventh rooftop operation, Down the Line Rooftop, since 2010. Earlier this year, George Loukas, who helped start the rooftop craze years ago, sold two buildings while James Lourgos and his partners sold another. Just three rooftop businesses on Sheffield aren't owned by the Ricketts family now: Murphy's Rooftop, at the corner of Waveland and Sheffield and above Murphy's Bleachers, and Skybox on Sheffield and Lakeview Baseball Club, which have sued the team in federal court. That suit is pending. According to records, Ricketts tried to buy all of the rooftop club properties shortly after acquiring the Cubs. Today, sports team owners search for new sources of revenue, and there are more changes on the horizon for the Cubs: Future plans include an open-air plaza, a nearby hotel and street fairs similar to the ones the Boston Red Sox host. A Cubs spokesman said Thursday that the newly acquired rooftops will be managed like the three bought in January through an agreement with Loukas, who owns popular bars in Wrigleyville and still has one rooftop business. Lasky said he admired that the team is investing more than $575 million into renovating the 101-year-old stadium and neighborhood, and praised the team's operation of Wrigley. He said he approached team executives there weren't other potential buyers a few weeks ago, completing the deal with Cubs Chairman Tom Ricketts and President of Business Operations Crane Kenney. Ricketts has said little about the team's plans for the rooftops other than that he plans to keep them in operation. In a statement, the Cubs said, "The Ricketts family has said in the past they are interested in reasonable opportunities to purchase rooftop property and are willing to pay a fair price. ... The rooftop situation has been a political and legal morass for more than a decade, and the Ricketts family will remain interested in opportunities which make sound business sense." The team's $375 million overhaul of the stadium continues. The 3,990-square-foot left field video board was ready for the Cubs' home opener, and the left-field bleachers opened earlier this month.
Im surrounded by big spenders at family gatherings. My siblings, their spouses/partners, my uncles and cousins all seem to spend at least every dime they make. The thing is, these arent poor people struggling to get by. The poorest among them brings in probably around $65k/year, and the others are well into the six figures. So they all have two or three refrigerators. One for the kitchen, one for freezing meats and vegetables in the basement and one in the garage just full of beer and soda. They all have cars no more than 2 years old. They have houses with unused rooms filled with unused furniture. When Im with people one on one Ill often bring up the topic of personal finance and investing. So I know that none of these people have any savings what-so-ever. Theyre barely into their 30s so they think they dont need to plan for retirement yet. I think they used to all just think I didnt earn much income and was a struggling student or something. So they would rag on me and tell me where I can get a good deal on a much shinier car to replace my 10 year old sedan. Theyre offering 0% interest for the next six weeks, you should go! It would only be like $300/month, even you could swing that. Then, over the past six months or so, word has gotten out that I paid cash for a house. And that Im fixing to do it again a few times over in the next year. Yet I still drive the old sedan around. Theyre realizing their apparent financial superiority has been merely that; apparent. Now, when Im in ear shot, Ill hear things like, I play hard, but I work hard! or, Whats the point of earning it if youre not going to spend it??? and You only live once! I think they are feeling a bit guilty about their behavior and my mere presence is bringing it out. They know that TV they bought over a year ago that theyre still making payments on has lost its novelty. They know they should be putting some money away, at least for a typical retirement when theyre 67. They know they ought to be saving something. The fact that no one else is doing it though makes it easier for them to slide as well. Theyll all be on that sinking ship together at least. I think, if they were honest, their platitudes would sound more like: I know I should save some money for a rainy day, but damn that cars shiny! Or, Ive already resigned myself to working for the next 40 years, I may as well buy some crap that at least makes me happy for a few weeks. Or, Were actually in a contest to see who can spend the most on their daily transportation, I just got a little closer to the winners circle. Ive said my piece many times over the years. When someone mentions theyre thinking about getting a new car, I explain the vast cost savings in getting something at least slightly used that gets good mileage. And if not, I explain the advantages of saving up and paying cash rather than paying all those finance charges. Ive suggested to my brother when he was buying his house that, as a single guy, he didnt really need 4 bedrooms and to consider the cost of heating all those empty rooms through a New England winter. Ive recommended to everyone, without much success, that they at least make use of tax-advantaged retirement accounts. After a while of that I just started to get eye-rolls. Or anticipatory glances when someone brought up some financial topic. Realizing Im just blowing into the wind, now I just say, You guys know what Im going to say. You know it makes sense. But its your money; your future, do what you want with it. My parents are no better. They make a good income and they do a good job of spending it. They make 3 to 5 Caribbean trips every year. I dont think theyve ever not had a car payment. The two of them live in a 6 bedroom house. They order exotic meats through the mail. My dad gambles. They carry way too much insurance.
Colorado cannabis is better than anything Amsterdam's got, and the medicine here is on par with, if not better than, what is coming out of California. While we already knew that here in Colorado, it was still cool to hear those words come out of High Times editor Danny Danko's mouth last night at the 2011 High Times Cannabis Cup award ceremony. I don't think anyone really knew what to expect from the Cannabis Cup. Even dispensary owners I spoke with beforehand had only an inkling. Were people really going to be able to light up? Would staffers be able to hand out meds to patients? What coalesced, though, turned out to be easily one of the most amazing cannabis events in Colorado short of passing Amendment 20 nearly twelve years ago. Continue Reading See a photo slide show from the Medical Cannabis Cup Inside Exdo was a miniature version of the massive KushCon II from last December, with dispensaries and bong shops setting up booths. The big difference was that the majority of the dispensaries this weekend were displaying real cannabis on their tables -- something KushCon frowned upon. Half of the large hall was given over to speakers, including talks from Danko on hash making and cultivation tips. All of that was cool, and it definitely had a more relaxed and patient-driven vibe than the corporate-feeling KushCon. But what really made the cup worthwhile was going on outside and down the alley. Marijuana Deals Near You In a warehouse not connected to Exdo, hundreds of medical marijuana patients lit up and created the largest hot box I have ever been a part of. Massive pillows of ganja smoke were billowing over the head of the security guard checking to make sure our wristbands were all in order. Inside was exactly what a cannabis convention should look like. Thick air, hazy eyes and bong load after bong load of smoke being blown around the huge room. Some dispensaries were giving out herb, others were playing it more sly and only displaying their ganja while puffing with patients a few steps away from their booths. At one booth, there was an at least five-foot glass bong being packed up for patients, while across the way, another group was filling up equally as tall Volcano bags and offering a hit to anyone who would walk by. The Cannasseur dispensary had one of the most creative booths, offering a plywood simulation of a first-class private jet lounge and having their budtenders dress like flight attendants. Cannasseur also had some the most delicious samples of herb, with the scantily-clad stewardesses handing out bong rips of Kurple Fantasy from sick 4.0 Glass micro tubes. The Clinic also had a unique setup, letting patients play on a homemade The Price Is Right-like Klinko board for coupons and specials. A lot of booths had oil rigs, so it was fun to walk around and try different waxes and budders -- though some booths neglectfully weren't wiping down pipes with sanitary wipes, and the thought of catching some crap from one of the hundreds of other puffers kept me away on occasion. Still, having that many people together all for cannabis, and to have our community recognized by High Times, was exciting. See a photo slide show from the Medical Cannabis Cup One strange thing, even for a guy in the media, was all of the media. It seems like around every corner, someone being followed by their pet documentary film crew. People seemed to love hamming it up for the cameras, especially when the crew from G4's Attack of the Show would walk by a booth of puffing patients. I also met a few people from a crew in town filming for National Geographic, as well as another independent documentary film. I know it's legal here, and we should have no shame in what we are doing -- but as attorney Warren Edson appropriately asked after the event: "You know those cameras were on, right?
Diesel engines are starting to make a return in the United States but they have been massively popular for decades in Europe. Its not just economy cars, either: AMG has built a diesel engine, oil-burning Audis have won the grueling 24 Hours of Le Mans on several occasions and BMW offers a 5-Series with a triple-turbocharged 3.0-liter straight-six diesel worthy of a M badge on the trunk lid. 40 years ago, Peugeot and Mercedes-Benz were among the very few manufacturers that offered a diesel in a passenger car and the thought of a compression ignition engine mounted in the engine bay of a sports car was a daring one that only Mercedes was willing to dabble in with the C111-III, a 230-horsepower experimental sports car that was never given the green light for production. The oil crisis that rocked the 1970s convinced BMWs top brass to take a close look at the diesel engine as a good compromise between power and fuel economy. A team of engineers tasked with studying oil-burning engines was formed at the firms Munich, Germany, headquarters in 1975. Engineers chose to use the M20 straight-six gasoline-burning engine as the starting point for the new diesel. The engines basic structure and belt-driven overhead cam setup were retained, but it featured purpose-designed valves, pistons and crankshaft and, importantly, an exhaust gas-driven turbocharger. BMW also worked with outside suppliers to design a system called Instant Start that shortened the glow time. With a displacement of 2,443 cubic centimeters, the new M21 engine was manufactured in Steyr, Austria, on a production line operated jointly by BMW and Magna-Steyr. The first regular-production diesel-powered BMW, the 524td, made its public debut at the 1983 Frankfurt Motor Show. With 115 horsepower and 154 lb-ft. of torque under the hood, it sprinted from zero to 62 mph (100 km/h) in 12.9 seconds and reached a top speed of 111 mph (180 km/h). At the time, BMW proudly called the car the fastest diesel-burning sedan in the world, though Mercedes turbocharged w123 300D was not far behind. Fuel economy was rated at an impressive 7.1 liters per 100 kilometers (33 mpg U.S., 39 mpg U.K.) in a mixed European cycle. Diesel engines rose to prominence in Europe during the early 1980s and manufacturers who didnt offer at least one oil-burning model often lost sales to competitors. In hindsight, the 524td came at exactly the right moment for BMW and it quickly became one of the most popular variants of the E28 5-Series in Germany. Lincoln burns oil Eager to keep up with rival Cadillac, who offered the Eldorado coupe and the Seville sedan with an Oldsmobile-sourced V8 diesel, Fords Lincoln division equipped its Continental sedan and Mark VII coupe with BMWs 2.4-liter diesel in 1984 but public demand was almost non-existent and the model was axed a year later after a handful of examples were built. Democratizing the diesel The 524tds popularity in Germany and abroad convinced BMW to widen its diesel offering. Launched in 1985, the 324d (E30) was powered by a naturally-aspirated variant of the 2.4-liter that churned out 82 horsepower and 113 lb-ft. of torque. It hit 60 mph from a stop in 16.1 seconds and returned 6.9 liters per 100 kilometers (34 mpg U.S., 40 mpg U.K.) in a mixed European cycle. Like in the 524td, power was sent to the rear wheels via a standard five-speed manual transmission or an optional four-speed automatic. The 324d was a hit in Europe but buyers clamored for more power so BMW quickly offered the turbodiesel 2.4 in the E30, creating the 324td. Conversely, the naturally-aspirated mill was installed the e28 and the 524d was popular in heavily-taxed markets like Italy, Spain and France. The original BMW diesel was replaced by a brand new unit presented at the 1991 Frankfurt Motor Show.
New Jersey Democratic Sen. Cory Booker came under attack after his Wednesday night vote against allowing the importation of cheaper drugs from Canada into the United States. The amendment to the budget resolution bill would have encouraged the importing of cheaper pharmaceutical products into the U.S. to lower prescription drug prices. Those exorbitant price tags, which are set by pharmaceutical companies, are putting a financial crunch on families, according to a Consumer Reports survey. Spending on drugs is also taking a huge bite out of not only families' pocketbooks, but also government coffers which could end up coming back to bite taxpayers again. As the outrage grew online, Booker responded to questions about why he joined Republicans and a dozen Democrats in opposing the amendment sponsored by Sen. Amy Klobuchar (D-Minn.) and Sen. Bernie Sanders (I-Vt.). "Any plan to allow the importation of prescription medications should also include consumer protections that ensure foreign protections that ensure foreign drugs meet American safety standards," Booker said in a statement to Jezebel. Back in December, though, Booker voted to weaken federal safety standards that regulate whether a medication can be sold in the U.S. in the name of broader consumer access to drugs, but experimental ones, not necessarily cheaper ones. The 21st Century Cures Act, which Booker vocally supported, passed with resounding bipartisan support and was signed into law last month. The law promised government investments in cancer and Alzheimer's research, allocated funds to fight the opioid epidemic and contained a host of other measures intended to facilitate the modernization of the health care industry. Among those steps was one to roll back the notorious gauntlet of Food and Drug Administration regulations in order to expedite the arrival of experimental medicine and medical equipment to market with the idea of allowing Americans easier access to cutting-edge treatments for what ails them. Despite the overwhelming support in Congress, critics were vocal about flaws in the bill notably the roll back of FDA regulations that would benefit pharmaceutical and medical tech companies. "Big pharma has its hand out for a bunch of special giveaways and favors that are packed together in something called the 21st Century Cures bill," Sen. Elizabeth Warren said during the debate over the law. "When American voters say Congress is owned by big companies, this bill is exactly what they are talking about." Charles Krupa/AP Sen. Elizabeth Warren was a leading critic of the rollbacks on regulations on experimental drugs in the 21st Century Cures Act. "A greater threat" The 21st Century Cures Act was "terrible for drug quality," Peter Maybarduk, who directs progressive watchdog Public Citizen's access to medicines group, said in a phone call Friday. Pulitzer Prize-winning journalist Michael Hiltzik wrote in a column for the Los Angeles Times: "Remarkably, nothing in the measure would address the main problem the public sees with the drug industry excessive prices." Booker's office defended the seeming contradiction between the votes. There's a "big difference between adjusting FDA's requirements for medical products [and] experimental medications and a situation where you could have no FDA review of drugs at all," Jeff Giertz, a spokesperson for Booker, said in a phone call Friday. "If the amendment had some more specifics on what it would have spelled out, in terms of a review process, that would have been something he supported," Giertz said. Critics of the the 21st Century Cures Act, though, contended the inconsistencies remain rife. "Twenty-first Century Cures was a greater threat to drug safety and efficacy than the import amendment," Maybarduk said, adding of Booker's objections to the amendment: "It could be legitimate drug quality concerns. But that argument is also used as a fig-leaf when an elected rep doesn't want to break with pharma."
