Ghost Art Part I

The majority of public art projects are planned, executed and then left to fade away into oblivion.

This is a particularly apt example of this endangered species of art.

Located along a railroad viaduct on Kinzie and Des Plaines in Chicago's River West neighborhood, these images are perhaps even more poignanat than when they were painted 35 years ago.

Hundreds of similar projects exist throughout the city, so please send along any you find.

Paramount Room

"No crap on tap" is a bold claim, but this out of the way River West gastro-pub more than backs it up.

Rat Out the Racists

Tattletale. Rat. Stool pigeon. Snitch. Narc. Anyone who’s ever been to kindergarten or seen Goodfellas knows that these are unflattering terms, but in light of recent comments by the Cubs Milton Bradley and apparently backed-up by teammate Derrek Lee, it’s time for Real Cubs fans to take a stand. So, I’ll state it simply: if you definitively hear and see another fan hurling racial insults at any Cub, opposing player or fellow fan at Wrigley Field, grab security and have the idiot thrown out.

Cubs fans are better than this. We get plenty of criticism, some of it deserved, but on the whole we are undoubtedly the loudest, most loyal and hardest partying fans in baseball. Perhaps it was easier to accept the losing when bleacher seats were $6 in the mid 90’s. Now, pay Stub Hub $150 for the same seat and maybe a sense of entitlement comes along with the price tag. That’s no excuse, under any circumstances, to use racial slurs, be generally obnoxious or to toss an over-priced beer at Shane Victorino. This kind of behavior needs to stop—yesterday. Drop a dime, if you hear someone out of line.

Sure, Bradley is an inning-watcher, who “pray[s] the game goes nine innings so I can go out there for the least amount of time as possible and go home”, but we all know people like that at work, especially on Fridays. And sure, it would take 200 years for a hard-working fan earning 50K to match Mr. Bradley’s yearly salary, but he’s human and he has feelings too. If you want to hurt them, please keep your criticism within a constructively destructive framework.

Acceptable Milton Bradley jeers: “Uncle Milty”, “Run of the Milton”, “We miss Sosa.” (also #21) and, of course, a sing-song chorus of “Mil-ton”.

Taunting at baseball games is as American as hot dogs (Germany) and apple pie (England). It is every fan’s obligation to cheer excellence, boo mediocrity and beg for baseballs during batting practice. But, please, when you go to the game, stay classy Chicago.

If you like you’re ale upscale, check out this River North bar & Grill which was designed by Oprah’s favorite interior decorator. How upscale? Does the $19 Kobe beef burger give you an idea? Find out where and check out the review @ the Chicago Bar Project.

LaSalle Power Company

The “LaSalle Power Company” sounds like the name of a Public Utility. Find out this River North bar/rock club’s Utility to the Public at the Chicago Bar Project.

Chicago Bar Project Review: Wabash Tap

If you’re taking the “L” to Soldier Field, Charter One Pavilion or any South Loop attraction, you might consider a stop the Wabash Tap, located between the train station and Michigan Ave. Expect a laid-back neighborhood hangout in an area that wasn’t much of a neighborhood just a few short years ago. Check out the full review at the Chicago Bar Project.

The $180 Free Credit Report

Taking control of your credit is more important than ever. Your credit rating factors into everything from buying a home to finding a job and the credit reporting agencies are looking to capitalize on this new found awareness. Using tactics ranging from fear to catchy jingles, ads touting seemingly “free” credit reports play in heavy rotation on TV and radio. But these “free” reports often come with more strings than a marionette, so a savvy consumer needs to know their options before they end up with services they did not need or intend to buy.
The free credit reports you see advertised all come with automatic enrollment in subscriptions to “credit monitoring” services. These services cost $14.95 a month—for a total of $180 per year—and will continue indefinitely until you cancel.

The value of these credit monitoring services is limited at best. By ordering and reviewing your credit report you are already monitoring your credit, effectively negating the value of the service. And these services can induce a false sense of security leading consumers to think they are fully protected from identity theft. In actuality, these credit monitoring services cannot ensure that your identity won’t be compromised, have limited benefits and come with enough loopholes in the fine print to make a contracts attorney glaze over. Save yourself the expense and the hassle and take matters into your own hands.

Every consumer is entitled to a free annual credit report from the 3 primary credit reporting agencies: Experian, Equifax and TransUnion. These reports are excellent sources for finding discrepancies in your credit history and spotting incidents of identity fraud, but do not come with the much hyped FICO score. Knowing your FICO score will give you an idea of the type of credit you may qualify for, no more, no less. Individual credit reports including your FICO score can be purchased for a one-time charge of $15—which still saves you $165/year if you make this an annual habit. If you’re looking to make a major purchase, such as a home or car, you may want to know your FICO score before approaching a lender. Otherwise, you need to consider whether this information is necessary, if your primary goal is to ensure your credit report is accurate and free from irregularities.

It’s to your credit to protect your credit. Just make sure you’re protecting your wallet at the same time.

Chicago International Film Festival

Film buffs and the culturally curious, take note: the 44th annual Chicago International Film Festival is coming October 16-19. The film festival is one of Chicago’s premier events and a showcase for artistic talent from around the globe.

The film festival offers a once-a-year chance to see films that would otherwise never flash on a multiplex screen. The festival, as always, offers a diverse collection of documentaries, feature films and shorts, a mix of the experimental and conventional, retrospectives and new releases. In debunking the notion that the films focus solely on the obscure or the “challenging”, this year’s festival includes Japanese anime, a South Korean western, an Italian-made modern mafia tale and a Swedish coming-of-age vampire story.

Surprisingly to some, the festival also includes a number of American made studio and independent films. Ed Norton and Jon Voight star in the pre-release screening of Pride and Glory. Darren Aronofsky presents The Wrestler, and even someone as unlikely as Jada Pinkett-Smith makes her directorial debut with the independent film The Human Contract. And this just scratches the surface.

If you enjoy movies to any degree, there is a film waiting for you to find it.

Fear no subtitles, and enjoy.

"Amazin'" Grace and "Decent" Derrek

Does anyone else have the feeling that Cubs first baseman Derrek Lee has morphed into former fan favorite Mark Grace? On the surface, that’s a complimentary comparison. Mark Grace was a solid hitter, with a career .303 average, a good fielder who earned 4 Gold Gloves and was generally well-liked by his teammates (Sammy Sosa not included.)

The problem is that Derrek Lee is not being paid $13,250,000 a year to hit like an above average first baseman with limited run producing potential. He’s being paid an 8 figure salary to carry a World Series starved team offensively. Among National League first basemen, as of Sept. 3, Derrek Lee is 6th in hitting, 9th in home runs, 9th in RBIs and 10th in slugging percentage. For perspective, Derrek Lee still trails Mark Teixeira in both home runs and RBIs, though Teixeira was traded to the American League’s Los Angeles Angels on July 30th and is unable to add to his National League stats.

If you look at Derrek Lee’s offensive production since his April 2006 wrist injury, the numbers eerily compare with Mark Grace’s from a decade ago. It’s a shame that a fluke play at first over two years ago, when Raphael Furcal barreled into Lee after an errant throw by Scott Eyre, could so alter a career.

As the Cubs make their September playoff push, Derrek Lee somehow has to find a way to put some lift under the ball. It is no small feat to hit .290-.300 for an entire season, but there is no awe in watching a 6’5”, 240lb singles hitter.

Rocking on a Wednesday

4 bands, $8, don’t encourage the “bums”. The show took place at Reggie’s Rock Club, an ambitious establishment consisting of a concert hall, restaurant and record store, located in adjacent storefronts at the confluence of the Bronzeville and South Loop neighborhoods. (The aforementioned sign, by the way, is no subtle commentary on our gentrifying city.) Reggie’s serves up a variety of BBQ in its restaurant, the record store specializes in hard to find vinyl and CDs and the music venue caters largely to unsigned bands of all genres. In this day of streaming media, instant downloads, literally thousands of entertainment options and new regulations on concert promoters after the E2 tragedy, opening a new concert venue/record store in the city is no small act of courage.

The concert hall is largely open between the bar and the raised stage, with standing room for perhaps 200. A lofted lounge area, sits to the back of the room, with seats and tables for a few dozen. If the show is crowded, be prepared to stand for the duration. The acoustics are clear enough, though the slab floors and brick walls cause a bit of reverberation. Standing to the side of the stage actually provided better sound than watching the bands head on. Beer selection is standard, the staff is friendly and prices are reasonable. Overall, Reggie’s seems like a promising spot and a welcome addition to the local music scene.

The Chicago-based sextet On We headlined the show, taking the stage at 11:00PM*. On We played a tight 45 minute set of textured, melodic and often catchy original material. On We is fronted by singer Bridget O’Callaghan, whose look evoked an early Bjork and whose voice was vaguely reminiscent of Kim Gordon of Sonic Youth. Backed by 2 skillful guitarists, bass, keyboards and drums, On We squeezed every ounce of energy out of their performance. Their self-proclaimed “Cold Pop” sound is clean and their songwriting is developed and nuanced. In a city teeming with local acts of all descriptions, On We seems to be a highly marketable product that is refreshingly different from the norm.

*Is 11:00PM too late to start a mid-week concert? (I once saw Brian Ritchie of the Violent Femmes perform at 2:00 AM in Manhattan’s Bowery neighborhood, but that was on a weekend and I was on vacation.) Not everyone who enjoys live music has the interest in, or the stamina for, the bar scene. Unless it’s an affront to their Rock & Roll sensibilities, a 10:00 start for the last act on weeknights might just increase attendance for Reggie’s and other music clubs throughout the city.

Garfield Park Conservatory

When it was opened in 1908, the Garfield Park Conservatory was considered an engineering wonder and a fine example of Prairie School architecture on a grand scale. Multitudes of Chicagoans filed through the exotic gardens admiring an assemblage of flora that was larger and more diverse than anything that had ever been collected under one roof. As the conservatory celebrates its Centennial in 2008, the structure itself still impresses, and the overflowing greenery inside still provides year-round access to spreading palms and fragrant orange blossoms.

The mammoth glass dome that covers the conservatory and its adjoining wings allows the Midwestern sun to shine down on plants from across the globe. Species are divided in various rooms and exhibits including palms, ferns, desert aroid and something called the “sweet house” (fruits and other food plants). The soaring roof provides ample space for the dense arrangements of plants and trees that occupy almost every available inch of floor space. Winding stone paths, occasionally overgrown by encroaching plants, are cut into the landscape and meander in rough circles around the arrangements. Several rooms have irregular pools incorporated into the landscaping, which adds an additional natural element to the surroundings. Among the highlights of the conservatory is the display in the Aroid room, which incorporates original works remaining from Dale Chihuly’s 2001-2002 exhibition.

With additional gardens and paths outside, the conservatory can be more than just a rainy day destination. The conservatory can be reached via the CTA’s green line at the Central Park stop, but parking in the neighboring lot is free. Admission to the Garfield Park Conservatory is also free, which makes a visit one of the better deals in town. And though you can see, smell and learn about living things from around the world, there’s none of the nagging guilt that can be associated with a trip to the zoo. Most plants looked quite content to be grown in captivity.

Though the conservatory is free to the public, the aging building is always in need of further renovations. If you go, please consider making a small donation.

Who Turned off the Lights?

Last night Chicago participated in Earth Hour 2008, a global campaign to raise awareness of climate change. For one hour, cities around the world asked citizens and businesses to turn off unnecessary lights to encourage people to start thinking about ways they can reduce their impact on the environment.

In anticipation of the event, I was in position at 7:55PM local time at Water Tower Park near the top of Chicago’s Magnificent Mile, to watch the city fade to dark. Hoping for something between the strip’s usual luminance and a darkness that encourages looting, the results of Chicago’s first Earth Hour were certainly mixed.

At 8:00, the lights at the top of the John Hancock center went black, leaving the red warning lights at the top of its antennae hanging in the sky. The ancient sign announcing the Allerton Hotel’s “Tip-Top-Tap” faded out. And that was about it from my vantage point. Perhaps 25% of the businesses on the storied street joined the event. Various hotels darkened their lobbies; some handing out glow lights to their guests. Banana Republic, for example, darkened their signage and display windows. But an overwhelming number of retailers, from Sak’s Fifth Avenue to the Apple store to Nike Town were operating business as usual. So, from street level, it was pretty difficult to notice any difference if you were not looking for it in advance. I’m hopeful that in coming years Chicago’s participation, no matter how symbolic the event may be, will rise to a level that truly makes a statement.

Around 8:15, the floods illuminating the stone and mortar Water Tower finally went dark. Even an “Earth 45 Minutes” is a start.

Say “Cheese” or $#:+!

Herbert Hoover promised a chicken in every pot and apparently Chicago city government has promised a red light camera at every intersection. Currently, 69 intersections are monitored by the cameras, designed to capture pictures or video of motorists who run red lights. But the current outdoor photo studios are only the beginning. The city has just signed a $52 million, five year contract [with an out of state company] to install an additional 220 cameras by 2012. (Assuming the city can find the money that number may climb to 580.)

Now, there is really no defense for running a red light. There are only three instances when it’s acceptable to blow through an intersection: official police business, an ambulance in a medical emergency and during a chase scene in a Michael Bay film. Still, the cameras evoke an air of Big Brother, or at the very least are a further erosion of our collective privacy. (If you’re looking for more, the city has also signed a separate multi-million dollar contract to install video cameras on street sweepers. There is now no escaping the $50 fine should you fail to see the temporary paper signs, which are occasionally hung the night before an impending run.) Though the city positions the arsenal of cameras as a public safety tool and as a way to promote better driving habits, it would appear that the motive is equally related to dollar signs.

Drivers caught on film for a red light violation are mailed are mailed a ticket for $90, soon to be an even $100. The city, by its own estimates, predicts the new cameras will generate $50 million a year in revenue. So, despite the numerous cameras acting as a deterrent, the city is still expecting 500,000 infractions a year.

Wow, I feel safer already.

Seven Oaks – Lake Geneva, WI

The turn onto Wells Street, just before entering the 2 block long heart of Lake Geneva, Wisconsin, takes you on a path that is parallel, but not directly adjacent to the Lake itself. Due to its less desirable geography, the street has long been home to a strip of 1950’s and 60’s era motor inns that catered to the budget-conscious traveler, long before the days of Southwest Airlines. But recently, a gem has emerged from this strip of peeling Americana. The Seven Oaks B&B Inn, which opened in the spring of 2006, has transformed one of these aging properties into a quiet getaway within a getaway.

As Lake Geneva has been revitalized in recent years, the center of the small downtown has become a popular place on weekends, both in and out of season. Staying downtown can have the air of a low-grade frat party on certain nights. Resorts like the Grand Geneva (the former Playboy Club) and Geneva National offer more tranquility, but are also relatively isolated from the town itself. Seven Oaks occupies a location, which is just far enough from the city center to offer a relaxing atmosphere. It’s also close enough for a leisurely walk into town in fair weather.

A small hanging sign, without a trace of neon, quietly announces the Seven Oaks entranceway. 9 free-standing cottages flank the paved driveway which terminates in the equally renovated main house. Follow the small sign to the secondary entrance near the garage, which serves as the guest reception area. The hosts, Leon and Amanda, are cordial and accommodating. Originally from London, they bring more than a touch of English civility to the surroundings, and their attention to detail did not go unnoticed.

As we carried our bags into the Wimbledon cabin, a light snow began to drift downward with the calmness of a snow globe. The front door opens on a small tiled area, with a breakfast table on the left, and a wet bar on the right. The small refrigerator beneath the sink contained bottled water, a welcome plate of cheese, fruit and crackers and a chilled bottle of sauvignon blanc. (Choose from among 7 wine selections when making your reservation.) The counter and cabinets are stocked with all the tools and ingredients for a full coffee and tea service, including separate cups for coffee and tea and a separate tea pot for boiling water.

An L-shaped sectional sofa separates the kitchen from the living area. A leather bench/cocktail table fronts the sofa and provides ample room for both drinks and weary feet. A stone façade encases the gas fireplace on the opposite wall, which provides palpable heat on a cold winter day. A large flat-panel TV is embedded in the wall above the fireplace. A full range of cable channels, a DVD library and free wi-fi provide multiple entertainment options from the comfort of the couch.

The separate bedroom is simple, but refined. The king-size bed is covered in high thread count linens and multiple over-stuffed pillows, and connects to a master bathroom. One side of the bath is dominated by a 2 person spa tub, which is amply deep to allow for a soothing soak, and is accented with a supply of locally made soap and bath salts. The stand-alone shower stall is equipped with 1 overhead and 2 side jets, with independent flow controls. Step from the spa or shower onto the heated tile floor, and then grab a warm towel from the heated rack. Provided robes complete the pampered experience.

In warmer months, a fenced in area, far from street traffic, is home to a quaint English garden. Tables, chairs and rockers, provide a quiet spot to read, play cards or have a cocktail. What makes Seven Oaks even more tranquil for a romantic weekend is its policy that excludes pets and children from the premises. So as not to give the wrong impression, I would characterize Seven Oaks as a place for Grown-ups, not Adults-Only. Rates start at $189/night, and a 3 night stay will earn a 50% discount on one night’s stay. Seven Oaks is open year-round, unless otherwise noted on their website.


Launch Pad Tip: The homemade caramel and cheese popcorn, the “Chicago mix”, at Constant Cravings in downtown Lake Geneva, is almost worth the 90 mile trip alone.

Who are these People and why should I vote for them?

I present to you the 7 candidates running for Dick Devine’s vacated Cook County State’s attorney seat: Tom Allen, Anita Alvarez, Tommy Brewer, Howard Brookins Jr., Robert Millan, Tony Peraica and Larry Suffredin. If you are familiar with more than two of these names, the chances are you currently work on one of these campaigns, or are one of the candidates themselves. If you can even pick the lone Republican in the group, you’re an honor student of Chicago politics. With 98.7% of media coverage focused on the presidential races, many important state and local races are getting even less coverage than usual.

The State’s Attorney job is arguably one of the most important jobs in local politics. The position oversees a $100 million dollar budget and around 900 lawyers. The State’s Attorney prosecutes the areas most high profile criminal cases, and the job often serves as a springboard to even more prominent office, as our multi-multi termed mayor is an example. Yet, only the 2 or 3 candidates that can afford commercial time even have a chance of registering more than a blip in the polls.

And if awareness is low for the State’s Attorney race, what about the dozens of other state and local races? The ballot on Tuesday will contain races for State Representatives and Senators, judgeships and even the ultra-sexy Water Reclamation Commissioners. (The little known Water Reclamation District oversees a $1 BILLION annual budget, by the way.)

When you pull the proverbial curtain behind you, who do you vote for in these races? Do you skip on voting in races where you do not know any of the candidates? Do you vote for the 1 candidate who happened to buy a billboard on your way to work? Do you vote for the candidate with the most benign name? (‘Hmm, McLovin’ for State Senator sounds like a nice Irish boy.’) Though seriously, it was innocuous sounding names that helped Lyndon LaRouche followers wins in the 1986 Democratic primary.

For most of these races, I still have no idea who, if anyone, I plan to vote for, but sometime between now and the election, I plan to find out. http://www.voterinfonet.com/

Icy, a Problem

Pop Quiz: You see the following sign. What do you do?

A. Sprint clear of the building, with your arms protectively thrown over your head. (Repeat at each of the dozens of high rise buildings posting similar signage around the city.)

B. Follow the sign’s helpful arrows upwards to see what the fuss is about.

C. Briefly contemplate what you’d do with the settlement money, should you survive any subsequent head blow from an over-sized ice cube.

D. Not a damn thing.

Signs like this have become the “wet floor” signs of Chicago winter. They have become common to the point that they scarcely register a second glance, yet that does not mean that accidents never happen. (For examples, try here or watch the video here.) What isn’t clear is if the signs are meant as a warning or as a notice of release from subsequent liability.

For 130 years the world’s greatest architects have been designing high rises in Chicago, and for just as long pedestrians have been forced to participate in a game of dodge-ice every time it freezes and thaws. And the problem is not confined to the oldest skyscrapers in the city. Plenty of buildings erected within the last 20 years suffer from the same problem. As the next generation of buildings reach for the sky (i.e. the Chicago Spire, Trump Tower, The Loop, Aqua, Waldorf-Astoria Tower), only time will really tell.

Retrofitting existing buildings is not the solution. Prohibitive costs, aesthetic concerns and community/political bickering will prevent any serious measures from ever taking place. So, what do we do about ice falling from our city’s buildings? I would be interested to hear your suggestions, but I’m afraid that the question might be rhetorical.

Iggy's 3 - The Third Time is not a Charm

When a bar’s business model works, its concept can be successfully copied and transplanted to other neighborhoods or cities. Locally, see Bar Louie and John Barleycorn. On the other hand, when a bar makes three separate attempts to make a go of it in the city, as is the case with Iggy’s 3, it may be a case of trying to force a square mug into a round hole. For a dozen years, the original Iggy’s was a fixture on Milwaukee Avenue, before closing its doors. The second incarnation lasted for 3 years in the Bucktown neighborhood, and, sadly, after an evening at their latest River North venture, one can only wonder about the half-life of the current location.

Iggy’s is clearly an establishment with an identity crisis. It is not truly a restaurant, and it’s not, by a long shot, a full-fledged bar or cocktail lounge. Black and red dominate the motif, with the requisite sock puppet photos from its past locations lining the walls. A small, crescent-shaped bar, with seating for perhaps 8, dominates the front room with several small tables flanking the bar, in a space that can at most seat 50. Iggy’s does provide a hip environment, but the overall vibe is one of style over substance.

As a bar, Iggy’s comes up short. With little space to mingle and fewer spaces to sit, Iggy’s does not lend itself to a comfortable setting for a round of drinks, particularly if the place is crowded. $11 martinis may be the going rate in the city these days, but Iggy’s does nothing to separate its offerings from the crowd. A small, though high-quality, selection of bottled beers are offered to those looking for something lighter, but Iggy’s offers no beers on draught.

As a restaurant, Iggy’s menu seems to be out of line with the atmosphere it is presenting. Appetizers run as high as $15 and entrees to $29, though meals are served by t-shirt clad wait staff who seem more properly attired to slinging buffalo wings. The ambitious menu, combined with the informal service, sends a confusing message to customers. In terms of taste and presentation, a sampled goat cheese appetizer was presented blandly and tasted about the same. Not one sandwich appears on the menu, which may be perfectly suitable for a fine-dining establishment, but it would be a stretch to put Iggy’s in that category.

Overall, Iggy’s is a cool looking spot that needs to decide what it wants to be when it grows up.

Rating: 1 mug

Editor’s note: A negative review is not something that I relish in giving, unlike a slathering Simon Cowell. But until Iggy’s rights the ship, if you’re looking for a drink in that part of River North I might recommend Clark St. Ale House. For a bite, the authentic and reasonably priced Café Iberico is a solid bet. (And by the way, the original Bar Louie is just a few blocks west of Iggy’s on Chicago Avenue.)

Philly Knows Lunch

On a recent trip to Philadelphia, I had the good fortune to stop for lunch at a grand bazaar of culinary delights, known as the Reading Terminal Market. In operation since 1893, the market provides a year-round array of fresh and prepared foods, housed in a revitalized train terminal, which was originally built with the grandeur of a bygone era.

Beneath the high-domed ceiling, row after row of independent merchants compete for the right to fill your stomach. And during lunch hour, you’ll be competing too, with throngs of locals and scores of business travelers, who come from the adjoining convention center. The atmosphere is one of mild chaos, which seems quite apropos for this setting.

Sections of the market, catering to locals, are devoted to stands featuring fresh produce, meat and fish. (Much of the fish on the day I visited was very recent pulled from the ocean by the nearby Atlantic fleet.) Interspersed among the raw goods vendors, are dozens of prepared food stands, which go well beyond the almost cliché Philly Cheese Steak sandwich. From falafels at Kamal’s Middle Eastern Specialties to mouth-watering roast beef and homemade Italian sausage sandwiches at DiNic’s, from ikura at Tokyo Sushi Bar to hand-carved turkey from The Original Turkey, there is something to please every taste.

A corner of the busy market is devoted to stands run by the Pennsylvania Dutch. Open on a more limited basis than the rest of the market, the stands run by the various Quaker sects, offer a range or organic meats, cheeses, produce and baked goods. And though their dress reflects their religion’s traditional codes and values, interaction between the Pennsylvania Dutch and their customers does much to dispel stereotypes. For instance, my purchase from the Lancaster Co. Dairy was concluded with a simple “thank you”, rather than a ‘Tis a pleasure doing business with you, English’. Their fresh-squeezed apple cider was nectar of the gods.

By meal’s end, you may feel like you could not take another bite, but leaving the market without dessert would be a mistake. I might suggest exiting the market on the Filbert Street side and stopping at Termini Brothers Bakery for a to-go box. Cannolis are filled on-site; the creamy sweet filling is not piped into the flaky crust until you place your order. The connolis are rich, yet delicate and are worth making room in your hotel room’s honor bar fridge, if you have no room in your stomach.

It’s hard to leave the Reading Terminal Market unsatisfied, but be forewarned. Upon exiting you may be left with a decision: a cup of coffee or a nap.

$25 For You, $80 Million For Them

Visa, MasterCard and Diners Club have recently entered into a settlement agreement in a class action law suit filed in the Southern District of New York, which will affect thousands of Chicagoans. The suit alleges that the credit card companies “conspired to set and conceal fees, typically of 1-3% of foreign transactions, and that Visa and MasterCard inflated their base exchange rates before applying these fees.” Any U.S. cardholder, who traveled abroad and used one of these cards to make a foreign transaction between February 1, 1996 and November 8 2006, is eligible to take part in the settlement.

The class action settlement agreement assumes no guilt on the part of the credit card companies, but does call for them to take steps to redress the complaint. Once the settlement is finalized, the defendants have agreed to more transparency in their billing statements, which will now provide detailed disclosures on foreign transaction fees. The defendants have also agreed to create a $336,000,000 settlement fund to compensate victims of these overcharges. Nationwide, several million cardholders are expected to be eligible to take part in the class. The current suit and settlement come on the heels of several other recent cases, which have resulted in an additional $35.5 million in payments from the credit card companies.

In the current settlement proposal, eligible plaintiffs can submit an “easy” claim form and receive a single payment of $25 once the settlement takes effect. The $25 payment is unrelated to the total amount charged on foreign transactions, and excludes that person from making any future claims. More meticulous travelers, who have access to 10 years of receipts, can submit a more detailed claim to potentially receive a refund of 1%-3% of their total purchases during that period. A traveler who amassed $10,000 in charges over this period could potentially be reimbursed up to $300.

While the third of a billion dollar settlement and changes in disclosure policy prove to be a mild rebuke to the multi-billion dollar credit card companies, the real winners would appear to be the law firms involved in the case, rather than consumers. The two law firms representing the plaintiffs, Coughlin Stoia of San Diego and Berger & Montague of Philadelphia, stand to profit handsomely. The settlement agreement calls for the firms to split a 27.5% share of the $313,000,000 that is expected to remain after deducting costs for administration of the suit. The firms can also claim an additional $5,000,000 for actual expenses incurred in handling the case, bringing their total compensation to a staggering 85 million dollars.

So, while affected Chicagoans, who are the real victims of collusion in this case, will receive a pittance in reimbursement for past over-charges, the boutique law firms will walk away with over $42,000,000 each. It is apparent incongruities like this that have led some to call for regulated limits on contingency fees, and others to wonders if justice, in class action law suits, is really being served.

When is an election important?

In case you missed it, one of the most historic events of year took place over the weekend, a little south of Chicago. Voters in Venezuela decided the long-term fate of their country in a referendum over sweeping changes to their constitution. The referendum would have given control of the country’s banking system to the central government and done away with term-limits for the president, among 67 other constitutional edits. If passed, the measures would have allowed sworn enemy of the United States, Hugo Chavez, to join the proud tradition of South American dictators.

In recent years, we have seen our own constitution tested by the Executive Branch in some disturbing ways, but not nearly to the degree as those faced by Venezuelans in Sunday’s vote. Tied to grandiose promises of pensions for “informal workers” (i.e. street peddlers) and a reduction to a 6 hour work day (interesting), Chavez’ proposals would have given him virtually unlimited power and would have effected the lives of every Venezuelan.

Enraged university students, once sympathetic to Chavez’ leftist politics, banded together with other opposition groups and disillusioned citizens. Told that they would be branded “traitors” if they voted against these measures, enough Venezuelans found the courage to vote with their conscience and defeat the measures by a razor-thin margin of 51%-49%. Democracy in Venezuela takes a step forward, “for now”, as Chavez was quoted as saying.

Despite what was at stake in the Venezuelan vote, only 56% of registered voters went to the polls. In an election that would have allowed Chavez to redraw congressional districts and declare himself president for life, just 56% of the electorate bothered to find the time to vote.

Perhaps it’s comforting to know that voter apathy is not just an American pastime. Our own presidential election, of no less importance, is just 11 months away. Will U.S. voters turn out in numbers higher or lower than 56%? I might bet the under.