Events

First, hoping to capitalize on their sterling reputation for honesty and good management, Tribune claims that the Cubs sale will continue as planned: Tribune Co. did not include the franchise and Wrigley Field in its bankruptcy petition, allowing the media company to retain control of the sales process. Nonetheless, Tribune Co. will have to keep creditors informed about the auction, and the winning bid will have to be signed off by a bankruptcy judge, sources close to the situation told the Chicago...

It's official: The Chicago Tribune's parent company was working with bankruptcy advisers at investment bank Lazard and law firm Sidley Austin to weigh financial options, sources told the Chicago Tribune for this morning's paper. Tribune Co. has been struggling under a $13 billion debt load since real estate magnate Sam Zell took the company private last December in an $8.2 billion leveraged buyout. The company faces a deadline today on $70 million of unsecured debt it took on before Zell's deal. More...

It's a little thing, but it means our evenings won't seem as gloomy from now on: tonight's sunset in Chicago is the earliest of the year. Seriously. It has to do with the speed of the earth's orbit around the sun this time of year (it's faster, as we approach perihelion). In any event, tomorrow night the sun sets just a few seconds later than it does tonight, which just adds a little happiness this time of year.

After eight years of having a president who could barely speak English, and having him say the most reactionary, anti-labor things possible when he did manage to croak out a polysyllable, this overwhelms me with joy: "When it comes to the situation here in Chicago with the workers who are asking for their benefits and payments they have earned, I think they are absolutely right," [President elect] Obama said Sunday.... "Have we done everything that we can to make sure credit is flowing to businesses and...

The Wall Street Journal reports that Tribune Media may go under; Crain's has more. Thanks, Sam, we appreciate it.

From my dad, yet another New York Times article to make you all warm and fuzzy inside: Thieves Winning Online War, Maybe in Your PC Despite the efforts of the computer security industry and a half-decade struggle by Microsoft to protect its Windows operating system, malicious software is spreading faster than ever. The so-called malware surreptitiously takes over a PC and then uses that computer to spread more malware to other machines exponentially. Computer scientists and security researchers...

Still mulling over intergenerational conflict as I am, at least I have some good news about Chicago's infrastructure: [T]he CTA today announced that Purple Express trains in the Loop will resume operation traveling clockwise on Monday, December 29. In April 2007, when three-track operation began at both the Belmont and Fullerton stations, the CTA moved Purple Express trains to travel in the same direction as Brown Line trains (counter-clockwise around the Loop) to supplement Brown Line service and help...

Some of my friends and I have a running conversation about the differences between us in Gen X (born 1964-1978) and the two generations on either side of us (Boomers, 1946-1964; Millennials or Gen Y, 1978-2000). We've concluded that both display a sense of entitlement, in different ways, not present in other generations. Thomas Friedman sees some of this, as well as how the Boomers are sticking us Xers with their bills, as are the Millennials: What book will our kids write about us? “The Greediest...

This morning the Bureau of Labor Statistics announced the economy lost 533,000 non-farm jobs last month, giving us a main-line unemployment rate of 6.7%. This is the highest since 1993, which, along with the usual credit-crisis indicators (like the 3-month Treasury now at zero), is quite sobering. Appropriate, then, that today is the 75th anniversary of the 21st Amendment, repealing Prohibition. Sláinte!

I mentioned earlier that having a President living in Chicago will change a few things. I'm hoping that the doomsday scenario outlined by local reporter (and private pilot) Phil Rogers doesn't come to pass: The Secret Service declined to say how they would handle aviation security in the Chicago area, Rogers reported, but there is a model, which is how security is handled currently at the presidential retreat in Crawford, Texas. Using that model, that would mean a three-mile no-fly zone around the...