Tuesday, September 19, 2017

Tomorrow is the last day for the #SeawayBank farmer's market

Division of Self-Help FCU
It was started back up early last month and on Wednesday that's it for the year! Here's hoping they return with fresh produce for local residents next year!

Capitol Fax: Decline of Black Chicago

Well actually I added the title, a recurring theme on this blog as of late.

Either way Rich Miller discusses this on his blog yesterday. It's been in the news that that latino population of Chicago has overtaken the population of Blacks. It's already been documented that over the past decaded Blacks have been leaving Chicago. Blacks are either heading to the suburbs or they're leaving the state entirely.

What say you on this?

Sunday, September 17, 2017

Blogmaster updates

Yesterday I finally was able to correct issues with our domain which at one point was through BlueHost and they are better for doing more than as a registrar for domains. BlueHost is more for websites and web storage than it might be for any domains.

Besides The Sixth Ward blog is a website or a blog that seeks a registrar for a domain. So as a result of the episode of the past few days where the blog was redirected to its original url http://thesixthward.blogspot.com it was necessary to change registrars to that of GoDaddy. It seems fairly common for websites to utilize that service.

As a result of this change, guess what? Now the comments widget is back. How long has it been since we saw the latest comments in the sidebar to the right on this blog?
 This blog has always been about dialogue - especially since we respect and observe the 1st amendment. Regardless always bear in mind we do have a moderation policy. We DO NOT discourage anoymous comments although we will ask you to give yourself a handle or name so that we can easily identify you if we choose to reply. Of course always be respectful and refrain from using any profanity!

Again apologies for any inconvenience these changes may have caused. And now you can always visit this blog at www.sixthward.us.

Saturday, September 16, 2017

Had a brief interuption with sixthward.us domain

With the domain at http://www.sixthward.us. Well the domain is back up and running. As always of course you can always access this blog via http://www.thesixthward.us or http://thesixthward.blogspot.com. Those addresses will redirect you to sixthward.us.

Sorry about any inconvenience the domain disruption may have been as I - the "blogmaster" at The Sixth Ward blog - attempted to settle this issue.

Friday, September 15, 2017

Another historic CTA photo in Englewood

Another missed post from the CTA instagram from back in July the former Englewood branch station at 63rd/Loomis. This station was closed in 1969 after the opening of the current terminal of the CTA Green Line at 63rd/Ashland.

BTW, if you want to know more about the history of Chicago L-trains feel free to visit Chicago-L.org with more information on the operations of Chicago's rapid transit network.
The Englewood Branch, in its early years, had been built out to Loomis/63rd and ended there for much of it's life (before being extended to Ashland/63rd in 1969, now part of the Green Line). As you can see in this south-facing view from just north of 63rd Street, the tracks ended unceremoniously over the street. The location was a busy interchange for Englewood residents (as the Ashland/63rd terminal is today). An 'L' train is visible in the terminal and a "Blue Goose" streetcar is in the foreground. The paint scheme on this particular car is atypical for these cars, as it's one of several that received experimental livery modifications for better visibility on the road. #cta #ctahistory #chicago #chicagohistory #ctaredline #ctagreenline #englewood #westenglewood #transit #publictransit #rapidtransit #streetcars #elevatedtrains #trains #railway #railroad #1940s
A post shared by Chicago Transit Authority (@chicagocta) on

Thursday, September 14, 2017

#SeawayBank failure was self-inflicted

Now owned by Self-Help FCU

Steve Daniels is back discussing further what happened with the former Seaway National Bank. Perhaps nothing new is to be found in a recent FDIC report on Seaway's failure, however, this article brings to light some things that were interesting.

To start I did a post where I gave four bullet point reasons why Seaway died. This article shed some light on some unexplained issues such as for example the shuffle in the "c-suite" why Seaway couldn't attract any executives who could handle the bank's pressing problems.
In 2014, she fired long-time CEO Walter Grady. But the new CEO, Darrell Jackson, formerly of Northern Trust, didn't work out either. He was fired in the fall of 2015 after Dickens and the board decided he didn't have the experience to fix things, the report said. After that, Dickens herself served as interim CEO. "Seaway's board and management were largely ineffective from 2013 through its failure," the report stated.

In much of that period, high-priced consultants ran much of the day-to-day operations. The costs sent Seaway's overhead skyrocketing, ultimately hitting 11 percent of assets in 2016, the report said. Peer banks' overhead costs average 2.8 percent.

In a statement to Crain's, Veranda Dickens wrote: "Seaway Bank's board ... replaced the entire management team that caused the vast majority of problems that eventually led to the failure of the bank. ... The management team did the best we could to continue operating so we could serve our community under trying and difficult circumstances."
Also mentioned on this blog recently:
It also was unable to attract qualified executives. That led to a decision in November 2015, a little over a year before Seaway failed, to bid on $65 million of South Side mortgages offered by Urban Partnership Bank. Bizarrely, Seaway submitted the bid before informing regulators, even though the bank was under a regulatory consent order, according to the report. "Upon learning of the transaction, (regulators) informed Seaway that it may not have had sufficient capital to execute the deal," the report said.

As it turned out, Seaway pulled the plug anyway over a dispute with UPB, but it had made a $6.5 million deposit that UPB held until Seaway's failure. That deposit now is the subject of litigation between UPB and the FDIC.
As I've already seen in various reports regarding this unfortunate and shocking failure it was a combination of issues that forced regulators to shut Seaway down. It was some missteps as far as managing the portfolios of two failed banks, the changing of the guard as far as ownership - i.e. Jacoby Dickens and then his wife Veranda, then the executive management shuffle, then a mention of the board of directors, and then those consultants. With all the changes, Seaway was bleeding and no one can stop it.

As a result Seaway which had been independently owned for 52 years is now a subsidiary of Self-Help FCU.

BTW, attached to the article is the FDIC report that Mr. Daniels used to write his article. Give it a look if you're so inclined. 

Wednesday, September 13, 2017

Capitol Fax: Maze Jackson forms new PAC #WIIFTBP

Maze Jackson you might have heard from WVON radio. He's starting a new political action committee read the info over at the Capitol Fax. CapFax also shares a fb post showing a cookout at the Dan Ryan Woods 87th & Western on Sunday. Check them out and lets us know how it went.
EDIT 12:14 PM - BTW, just noticed in the comments they're mentioning Kari Steele who's currently a commissioner on the Chicago Water Reclamation District.

Sunday, September 10, 2017

From inside the now Amazon owned Whole Foods Market Englewood #teamwfm

You may find this shot posted to ig on Friday via Bruce Montgomery. Very nice shot that's worth sharing on this blog.

Friday, September 8, 2017

Update on the planning for CTA Red Line extension

CTA Red Line extension
Recently got an update with regards to where the Chicago Transit Authority is currently with the planned Red Line extension south from 95th Street to 130th St. near Altgeld Gardens. You can read a two sheet update here from their official website.

With this in mind there are two videos with regards to the extension which in my opinion is beneficial to the far south side of Chicago. However, what I strive to do on this blog is to be fair and the first video is a local homeowner who is opposed to the Red Line extension because it's construction means the destruction of homes as far as whatever alignment the CTA will choose.

This first video is courtesy of The Chicago Reporter - and posted to YouTube in December 2016 - and shows commentary by Shari Henry who opposes the extension as the project could threaten her family home. We see a drive around through the communities that are affected by this proposed project. As I may hope there could be further development Henry uses 95th as a guide with little business development around the 95th Terminal. [VIDEO]
The next video shows a proposal for the revitalization of the intersection at 115th & Michigan - although yeah they refer to this as 116th & Michigan. This is geared towards transit oriented development with mixed use buildings that hopefully will include storefronts, low-income housing, a grand entrance to the nearby L station, and greenspace to be used for community events. Seems like a great plan that should be considered even if it must be refined. The video was posted to YouTube in May 2017. [VIDEO]
Here's yet another video which was posted to YouTube in Dec. 2012 - 4 years ahead of The Chicago Reporter video with Shari Henry. Of course this is a video that is in favor of the Red Line extension to 130th Street and certainly wants us to know the benefits of building this extension. An hour commute to downtown Chicago for cultural, education, or even jobs. The far south side won't be so disconnected or it won't take so long to take advantage of all the opportunities the city of Chicago has to offer. [VIDEO]
Forgot to add the above video was before the 2013 Red Line south reconstruction and before the current redevelopment of the 95th Red Line terminal.

What you see below is the project development phase which is the final environmental impact statement and record of decision as far as the Red Line alignment along the Union Pacific Railroad route. I suppose this means which side of the tracks will have their properties impacted which is also explained in the two-page report from CTA.

Wednesday, September 6, 2017

Tribune: Planned warehouses could bring thousands of jobs to Pullman

This morning over at our ig account we reposted a screen cap that is a rendering of the future warehouses expected to come near 103rd/Stony Island provided by this Chicago Tribune article. As a matter of fact, these warehouses will be closer to 111th Street near the Walmart. Below I will share the post provided by Ian Lantz who owns The Pullman Cafe.
A post shared by Ian Lantz (@ianlantzart) on

Sunday, September 3, 2017

Summer is almost over

Nothing symbolizes this fact that the above ig post from our local ABC affiliate. What you see below are the last fireworks you will see at Navy Pier for the summer. After Labor Day it's time to send the young people back to school! I hope everyone enjoyed their summer this year.

Granted we have a lot going on in Chicago with gun violence and further away from home people have been soldiering through a major hurricane that has caused significant flooding.
A post shared by ABC 7 Chicago (@abc7chicago) on

Wednesday, August 30, 2017

Capitol Fax: Sun-Times has a tax hike freak-out


Rich Miller believes based upon the screencap of the Sun-Times' front page the "adults" need to intervene and then notes the response of the editorial page which it appears Miller agrees:
Mayor Daley and, for his first term Rahm Emanuel, allowed Chicagoans to live in a fantasy world where they didn’t have to pay for the services they received. And they were enabled by the city’s media and, particularly, its editorial boards which endorsed those guys at every turn.
The question to ask here is whether or not you all agree?

Another property tax increase coming soon...

Chicago Board of Education
Remember during the 2015 municipal elections where I expressed support for an elected school board - though my idea was a hybrid with both appointed and elected members? Well we need to get to work on this idea especially if Gov. Bruce Rauner signs legislation that sets up another property tax increase here in Chicago that would be approved not by Chicago Aldermen, but by the appointed Chicago board of education.

Tapped-out Chicago property owners would face yet another tax hit for teacher pensions — but their aldermen would escape another difficult vote — under a historic new statewide school funding deal now headed to Gov. Bruce Rauner’s desk.

That “compromise” bill — approved by Illinois lawmakers this week — authorizes the Chicago Board of Education, comprised of mayoral appointees, to impose a property-tax hike worth $125 million without any involvement whatsoever from the Chicago City Council, whose members are elected.

The Board of Education does indeed plan to approve the increase, enabling the Chicago Public Schools to walk away with a total of $450 million in new state and local money for the 2017-18 school year once Rauner puts his signature on the bill, school officials said.

Rauner plans a bill-signing ceremony on Thursday, his office said.

It’s unclear when the city’s school board will take up the property-tax increase.

This hike would amount to a 2.5 percent increase in the tax bill for an average Chicago homeowner. The owner of a home worth $200,000 would pay an additional $83 in property taxes, records show.
It brings to mind a recent column written by John Ruberry of Marathon Pundit
In Chicago it’s great to be part of the ruling class. But Chicago’s roads are crumbling, barely one out of four of its students in its government schools read at grade level, its bond rating is the lowest among major cities, and businesses lack confidence in Chicago and Illinois as a whole. If you are part of Chicago’s ruling class you might view high taxes as a downpayment on your next paycheck or your retirement, but Chicagoans endure the nation’s highest sales tax rate and they were slugged with the highest property tax increase in the city’s history to fund public-worker pensions.

Yet Chicago’s public pensions are the worst-funded among America’s biggest cities--at a rate of just 25 percent of its obligations. But the cruel joke may be on these well-compensated public-servants. Despite the strong pension protection clause in the Illinois constitution, a pension “haircut” seems unavoidable for retirees. Michigan has similar wording it its constitution, yet Detroit municipal retirees saw their pension checks cut after the Motor City declared bankruptcy.
h/t Newsalert

BTW, what you see in that Newsalert post is a screencap of the Sun-Times front page which is what I share now.
 

Friday, August 25, 2017

Amazon's purchase of Whole Foods Market means lower prices? #teamwfm

This is really old news, however, the talk has somewhat ramped up again. Back in June 2017 it was announced that Whole Foods Market will be purchased by Amazon. There had been talk before that of a purchase by Albertson's - the company that owns Jewel - and of course Kroger - the company that owns Mariano's.

Now that the deal is expected to close on Monday the talk has turned to the new parent company discussing cutting prices at Whole Foods Market. However, one trick to doing so is not hurting Whole Foods' reputation for quality food. One thing is for certain, perhaps with this merger Whole Foods  sooner or later could shed it's image of being "Whole Paycheck".