#I MADE OVER 700 DOLLARS IN A 2 WEEK PAYCHECK THIS SUMMER WHICH COMES OUT TO 35 HOURS PER WEEK. GET FUCKED.

[butchlifeguard]

i wish my family members would stop having a complex about my size and physical strength because i have the same one in the opposite direction and i legitimately do not know what my body looks like

[diaspora9ja]

Economic Stimulus Deal Takes Shape in Congress: Live Market Updates

Right here’s what it’s worthwhile to know:

Video

transcript

Again

transcript

Stimulus Negotiations Have Made ‘Main Headway,’ McConnell Says

Senator Mitch McConnell, the bulk chief, stated congressional leaders are approaching settlement on a roughly $900 billion coronavirus reduction package deal.

The Democratic chief and I labored into the night alongside the speaker of the Home and the Home Republican chief. We made main headway towards hammering out a focused pandemic reduction package deal that might be capable of go each chambers with bipartisan majorities. We dedicated to persevering with these pressing discussions till we’ve got an settlement. And we agreed we is not going to depart city till we’ve made legislation. The American folks want extra assist. It’s that easy. Additional focused reduction is now months overdue. We want vaccine distribution cash. We have to re-up the Paycheck Safety Program to save lots of jobs, we have to proceed to supply for laid-off People. Congressional leaders on either side are going to maintain working till we get this accomplished.

Senator Mitch McConnell, the bulk chief, stated congressional leaders are approaching settlement on a roughly $900 billion coronavirus reduction package deal.Credit scoreCredit score…Anna Moneymaker for The New York Occasions

Congressional leaders on Wednesday closed in on an agreement on a coronavirus relief measure that might infuse the financial system with as a lot as $900 billion, as they raced to finish each a pandemic help package deal and a catchall federal spending measure earlier than authorities funding lapses on Friday.

Prime Republicans and Democrats on Capitol Hill seemed to be nearing a plan that would come with each one other spherical of direct stimulus funds to People and extra unemployment advantages, based on folks conversant in the rising compromise who described it on situation of anonymity.

Whereas the main points weren’t but remaining, the plan was anticipated to additionally present billions of {dollars} for vaccine distribution and to assist faculties and small companies, however omit coronavirus legal responsibility protections lengthy sought by Republicans and a devoted funding stream for state and native governments insisted upon by Democrats — the 2 most contentious sticking factors.

The contours of the deal, reported earlier by Politico, turned clear after a flurry of late-night negotiations among the many 4 Home and Senate leaders and their workers on Capitol Hill. With Steven Mnuchin, the Treasury secretary, becoming a member of by cellphone, the 4 met twice on Tuesday in Speaker Nancy Pelosi’s workplace suite within the Capitol to work out the main points.

“We dedicated to persevering with these pressing discussions till there’s an settlement,” Senator Mitch McConnell, Republican of Kentucky and the bulk chief, stated Wednesday morning in a speech on the Senate ground.

It was unclear how massive the direct funds could be, although the $2.2 trillion stimulus legislation enacted in March offered $1,200 per grownup, and progressives and at the least one conservative Republican have just lately referred to as for a similar quantity or extra to be included within the new spherical of help.

Senator John Thune of South Dakota, the No. 2 Republican, advised reporters on Wednesday that the direct funds are prone to be in between $600 and $700 per particular person.

Negotiators had been additionally nonetheless haggling over an growth and extension of unemployment advantages and the way lengthy they might final. They had been additionally discussing reinstituting supplemental jobless funds, which offered $600 per week till they lapsed over the summer season however would doubtless be revived at a smaller quantity. Though Democrats appeared to have dropped their demand for a significant infusion of help for state and native governments, some officers conversant in the discussions stated privately that there have been different avenues to supply a few of these funds within the remaining package deal.

An settlement on each the reduction measure and must-pass laws together with the dozen spending payments wanted to maintain the federal government funded past Friday might emerge afterward Wednesday.

Buyers at Gateway Mall in Lincoln, Neb., on Black Friday. Retail gross sales fell 1.1 p.c in November, the Commerce Division reported.Credit score…Walker Pickering for The New York Occasions

For the primary time since spring, U.S. retail gross sales have declined, elevating questions concerning the power of shopper spending and the way retailers are faring within the all-important vacation procuring season. Economists stated the decline was a “warning signal” that the financial system was getting into a tough patch and in want of a jolt from one other spherical of presidency stimulus.

Retail gross sales fell 1.1 p.c in November as spending on classes like vehicles, digital shops, clothes and eating places and bars softened, based on a report from the Commerce Division on Wednesday.

Economists had anticipated a smaller decline amid strong vacation gross sales, pushed by on-line spending. However the Commerce Division additionally revised its tally for October to a 0.1 p.c decline, from a rise of 0.3 p.c reported earlier.

The U.S. financial system has slowed in latest months amid a surge in coronavirus instances and a gradual improve within the ranks of the unemployed. At the same time as companies have come underneath contemporary stress, lawmakers are nonetheless attempting to agree on a new stimulus package deal. This week, prime Democrats and Republicans on Capitol Hill are nearing a $900 billion deal that might broaden unemployment advantages and supply new stimulus checks to customers.

The decline in retail gross sales in November added new urgency to these discussions, as shopper spending, which for months had been a giant driver of the broader financial restoration, slowed excess of anticipated.

“Weak retail gross sales within the fall, together with a latest improve in unemployment insurance coverage claims, are warning indicators for the financial system on the finish of 2020,’’ Gus Faucher, chief economist at PNC Monetary Providers Group, stated in a analysis be aware.

The uncertainty round vacation spending has been exacerbated as retailers pushed annual gross sales occasions into October, in a bid to jump-start the season and stop crowded shops and delivery delays in November. Many main chains reported gross sales beneficial properties in October, however they weren’t sure about how it could have an effect on spending in November and December.

Mr. Faucher additionally famous that the growth in procuring this spring after the restrictions had been lifted and shops reopened decreased “the necessity for purchases on the finish of the yr.”

Customers haven’t been following regular procuring patterns this yr, making month-to-month gross sales tough to foretell. Black Friday, which has historically signaled the beginning of the vacation procuring season, was also largely a bust for a lot of retailers amid the rise in instances. Some corporations reported that in-person site visitors that day declined by as a lot as 50 p.c from final yr, as buyers involved concerning the virus stayed away from the shops. Nonetheless, on-line gross sales have been sturdy via the vacations and November gross sales had been up 4 p.c over final yr’s figures.

With the brand new considerations round procuring in particular person, retailers have been racing to accommodate a surge in shipping demand, grappling with new surcharges and delays with main carriers together with UPS and FedEx.

By: Ella Koeze·Supply: Refinitiv

A surprisingly dour report on retail gross sales took a few of the enthusiasm out of the inventory markets on Wednesday.

Shares in Europe and america had been heading for a second day of stable beneficial properties earlier than the Commerce Division stated that retail gross sales fell 1.1 p.c in November, a far sharper decline than economists had anticipated and contemporary proof of the resurgent coronavirus’s impression on the world’s largest financial system.

As a substitute, the S&P 500 began the day with a small decline, and shares in Europe had been additionally off their highs of the day. The Stoxx Europe 600 index and the FTSE 100 in Britain had been each about half a p.c greater.

Earlier than the retail gross sales report, markets had been bolstered by indicators of progress towards an financial stimulus package deal in Washington, and after the most recent Purchasing Managers Index report supplied a optimistic outlook on the European financial system. The manufacturing index reached 56.6 factors, up from 55.3 in November, and the composite output index hit 49.8 factors, from 45.3 final month.

“The information trace on the financial system near stabilizing after having plunged again right into a extreme decline in November amid renewed Covid-19 lockdown measures,” stated Chris Williamson, the chief enterprise economist at IHS Markit, which compiles the experiences.

Additional perception on the state of the U.S. financial system will come afterward Wednesday when the Federal Reserve chair, Jerome H. Powell, speaks to reporters after the top of the central financial institution’s remaining scheduled assembly of the yr. The Fed has been providing reassurance that it’ll proceed supporting the financial system, however some policymakers are divided over how a lot must be accomplished now.

U.S. lawmakers held talks late Tuesday in search of an settlement on a pandemic stimulus bill forward of a Friday deadline. Senator Mitch McConnell, the bulk chief, stated afterward that “we’re making vital progress,” and Speaker Nancy Pelosi supplied the same appraisal. On the desk is a package deal of funding to assist unemployed staff and troubled companies, in addition to an omnibus spending invoice to maintain authorities cash flowing.

The buying and selling app Robinhood has confronted blowback over big losses run up by inexperienced buyers who say it offered no guardrails or assist for them.Credit score…Jim Watson/Agence France-Presse — Getty Photographs

Massachusetts regulators charged the stock-trading app Robinhood on Wednesday with aggressively courting and manipulating inexperienced buyers after which failing to guard them.

The enforcement motion is the most recent headache for Robinhood, whose recognition has soared with a brand new era of day merchants. The corporate has confronted blowback over huge losses run up by inexperienced buyers who say it offered no guardrails or assist for them.

Within the grievance, the Massachusetts secretary of the commonwealth, William F. Galvin, stated that the web brokerage agency targeted on signing up younger merchants with perks like free shares, after which used “gamification” advertising strategies to influence them to commerce usually. Many of those buyers had been allowed to commerce dangerous choices with out correct screening, the submitting stated.

Clients of Robinhood are likely to commerce the riskiest merchandise extra usually than folks at different retail brokerage corporations and on the quickest tempo, The New York Times has reported. The corporate’s enterprise mannequin is geared towards encouraging extra buying and selling: Robinhood makes cash from “fee for order circulation,” by which Wall Road corporations pay per commerce for the privilege of shopping for or promoting securities on prospects’ behalf.

A consultant for Robinhood defended the corporate’s insurance policies, saying in a press release that it didn’t make funding suggestions. “We disagree with the allegations within the grievance by the Massachusetts Securities Division and intend to defend the corporate vigorously,” the assertion stated.

The consultant added that it had added safeguards and academic choices to assist higher inform prospects about choices buying and selling.

Mr. Galvin additionally criticized technological outages on the app, which prospects have stated value them cash after they had been unable to realize entry to their accounts at essential moments in market buying and selling.

“Though profitable in quickly increasing its buyer base, Robinhood didn’t take enough steps to arrange inner controls to guard each its prospects and its platform,” the grievance learn.

The enforcement motion was made underneath a fiduciary standard that Massachusetts adopted this yr, which requires broker-dealers to behave of their purchasers’ greatest pursuits.

Mr. Galvin’s workplace is in search of an unspecified advantageous and a requirement that Robinhood alter its insurance policies for choices buying and selling and undergo a overview of its technological infrastructure.

The enforcement transfer comes as Robinhood is getting ready a possible preliminary public providing, seizing on its recognition and inventory buyers’ starvation for shares of fast-growing know-how corporations. The brokerage agency has employed Goldman Sachs as an adviser, based on two folks with information of the matter.

Credit score…WhistlePig

Moët Hennessy, the premium spirits arm of French luxurious big LVMH Moët Hennessy Louis Vuitton, is taking a stake in WhistlePig in a wager that it may make sometimes American rye whiskey a worldwide hit, the DealBook e-newsletter experiences.

It’s the second American whiskey model that Moët Hennessy has invested in, after a 2017 funding in Woodinville Whiskey, which is produced in Washington State. Phrases of the deal weren’t disclosed.

WhistlePig brews its whiskey in Vermont oak, and its 15-year aged whiskey sells for greater than $200 a bottle. The corporate was based by Wilco Faessen, now a senior banker at Evercore, and Raj Bhakta, an entrepreneur and onetime “Apprentice” contestant.

Mr. Bhakta bought his shares within the firm when Byron Trott’s funding agency, BDT Capital, took a minority stake final yr. BDT will hold its stake following the deal, by which no buyers cashed out. The cope with Moët Hennessy doesn’t embrace a path to an outright sale, Mr. Faessen stated.

Mr. Faessen stated that formal talks a few partnership started in January, and the pandemic didn’t alter the deal in addition to lengthening the time it took to work via the main points. Gross sales for each WhistlePig and Moët Hennessy got here underneath stress as bars and eating places shut, however the corporations additionally seen a shift to premium liquor throughout lockdowns.

“It’s simply simpler to deal with your self while you’re caught at house and sick of doing Zoom conferences,” stated Jeff Kozak, WhistlePig’s chief govt, who famous that gross sales had been up this yr.

Rye whiskey is consumed largely in america, however Moët Hennessy thinks it may entice drinkers elsewhere. Connoisseurs who wish to “broaden their repertoire within the class of high-end whiskies” have just lately turned to Japanese manufacturers, stated Philippe Schaus, the Moët Hennessy chief govt, “and we don’t see why we is not going to succeed to carry them to high-end American whiskeys.”

Domino’s Pizza stated this week that it could pay bonuses of as much as $1,200 to greater than 11,500 hourly staff in December. The bonuses will complete greater than $9.6 million, the pizza chain stated. Earlier this yr, Domino’s paid a bonus to frontline staff at its company shops and provide chain facilities. “We have now the honour and privilege of being open and working all through the U.S. throughout this disaster, and we acknowledge that we couldn’t be doing it with out the laborious work and dedication of our workforce members,” Ritch Allison, the corporate’s chief govt, said in a statement.

Philadelphia is a case examine within the simple-but-not-easy job of serving to tenants with the lease. Like most locations, it isn’t near satisfying the necessity.Credit score…Hannah Yoon for The New York Occasions

Nearly from the second the pandemic unfold throughout america, advocacy teams have warned that the financial fallout might trigger mass displacement of low-income tenants.

In response, greater than 400 state and native governments have used cash from the federal CARES Act to arrange funds to cowl at the least $4.3 billion in rental help — cash that has helped tenants pay their payments and landlords keep present on their mortgages, based on a database arrange by the Nationwide Low Revenue Housing Coalition, a coverage group.

However many jurisdictions are reporting trouble spending it, and with barely two weeks left within the yr, they’re on tempo to have greater than $300 million left over, based on the coalition’s database. In a sample that predated the pandemic, the applications have been sophisticated by bureaucratic hurdles, competing price range calls for and a reluctance amongst landlords to participate, reports Conor Dougherty for The New York Times.

Philadelphia is a case examine within the simple-but-not-easy job of serving to tenants with the lease. Social applications are sometimes a partnership by which cities present funding and lay out guidelines however delegate the execution to quasi-governmental nonprofit organizations just like the one Gregory Heller works at.

Like most locations, Philadelphia will not be near satisfying the necessity for assist. However via rounds of rejiggering and three phases of funding — every with its personal maze of guidelines and necessities — Mr. Heller’s group constructed a workforce to distribute help, whittled down the processes that delayed it and concluded that the easiest way to assist was probably the most simple: Give the cash on to renters.

“There’s a societal perception that poor folks can’t spend cash the appropriate means, and I feel it’s essential to begin questioning that assumption,” Mr. Heller stated.

The businesses drawing Wall Road’s consideration are notable for a way area of interest their services are.Credit score…Hannah Yoon for The New York Occasions

Till just lately, the temperature-controlled storage and delivery of pharmaceutical merchandise, referred to as the “chilly chain,” was a comparatively sleepy nook of the well being care business.

However the virus, and the temperature-sensitive vaccines which might be poised to fight it, have introduced new consideration to the cold-chain supply programs in america and past, Kate Kelly reports for The New York Times. Wall Road, which likes nothing higher than a scorching commerce with the potential for large income, is speeding to seize a bit of the motion.

The businesses getting consideration from Wall Road are notable for a way area of interest their operations are. Many use an elaborate community of freezers and specialised vans and plane to maneuver temperature-sensitive supplies — comparable to blood, stem cells and tissue — world wide with out compromising their efficacy. It’s a fragile course of, as a result of a product can go from very important to ineffective inside minutes of being faraway from chilly storage.

Potential buyers are consistently calling Stirling Ultracold, whose freezer tools is powering UPS’s “freezer farms” in Louisville, Ky., and the Netherlands, the place vaccines will probably be saved. “There’s not a day that goes by” that an inquiry doesn’t are available in,” stated Dusty Tenney, Stirling’s chief govt, who’s operating his Athens, Ohio, manufacturing strains across the clock.

Demand for Stirling’s freezer engines — the core part of their upright, under-the-counter and transportable freezers — has soared, and the estimated ready time for brand spanking new orders is six to eight weeks, the corporate stated. On Dec. 8, after a number of potential buyers studied the corporate’s monetary metrics in a due diligence course of, Stirling acquired a capital injection of an undisclosed quantity that it deliberate to make use of to purchase new tools and broaden manufacturing.

In October, Blackstone, the non-public fairness big, invested $275 million in Cryoport, a Nashville firm that focuses on delivery delicate medical supplies at freezing temperatures. Buyers have additionally been bullish on Ember, the beverage-heating firm that has developed a refrigerated medical delivery field with built-in GPS and already counts two Jonas Brothers and the Brooklyn Nets ahead Kevin Durant as shareholders.

The European Central Financial institution headquarters in Frankfurt, Germany. Banks can start paying dividends once more, the central financial institution stated, however with strict limits.Credit score…Daniel Roland/Agence France-Presse — Getty Photographs

The European Central Financial institution stated Tuesday that it could permit banks to renew restricted payouts to shareholders, a sign that regulators are barely much less apprehensive that the pandemic will set off a monetary meltdown.

Since March, the central financial institution has been pressuring industrial banks to stockpile money to cope with doable losses stemming from the devastating impression on the eurozone financial system brought on by the pandemic.

Banks can start paying dividends once more after consulting with regulators, the European Central Financial institution stated in a statement on Tuesday, nevertheless it set strict limits on how a lot they will pay out as a proportion of revenue and capital. The bounds will stay in impact till at the least the top of September 2021.

Nonetheless, the top of the dividend moratorium, which was technically a advice, is an indication that the banking system and the eurozone financial system are inching towards normalcy.

“In revising its advice, the E.C.B. acknowledges the decreased uncertainty in macroeconomic projections,” the central financial institution stated. An evaluation earlier this yr “confirmed the resilience of the European banking sector,” it stated.

The financial disaster has pressured most banks to put aside massive sums to cowl losses from debtors who misplaced their jobs and companies that suffered extreme declines in gross sales. However there have been no main financial institution failures on account of the pandemic, partly as a result of regulators have pressured lenders to stockpile capital lately and take much less danger.

The central financial institution stated that lenders ought to talk about dividend funds with regulators beforehand, and it cautioned banks to train “excessive moderation” in bonuses and different payouts to executives.

The European Central Bank is liable for supervising banks within the eurozone which might be thought-about sufficiently big or essential sufficient to set off a monetary disaster. The financial institution stated Tuesday that nationwide regulators ought to apply the identical requirements to the smaller banks underneath their purview.

Credit score…Philip Cheung for The New York Occasions

The financial upheaval brought on by the pandemic is making this a really uncommon vacation season.

Thousands and thousands have misplaced jobs and face the approaching lack of federal unemployment advantages. For a lot of, plans for journey and procuring outings have been upended due to well being restrictions or monetary hardship. For these with the chance to tackle additional hours or seasonal work, there could also be an incentive to take action.

How are you celebrating in another way this yr? What financial or private selections have you ever needed to make in observing the vacations? Are you chopping again on meals — or adjusting your charitable giving? We’d wish to find out about your scenario and your plans.

We might attain out to you individually to talk some extra about these questions, so please tell us if you happen to’d be prepared to share further particulars with us.

We is not going to publish any a part of your submission with out contacting you first.

Source link

from Diaspora9ja https://diaspora9ja.com/economic-stimulus-deal-takes-shape-in-congress-live-market-updates/?utm_source=rss&utm_medium=rss&utm_campaign=economic-stimulus-deal-takes-shape-in-congress-live-market-updates

[thesedays-posts-blog]

News RoundUp • Pitchfork Fest Announces Chicago Talent, CPS Students Pen Open Letter to Chance The Rapper & More

Winter decided to pop back in for one last go around as much of the city's artist class escaped down to Texas for the annual South by Southwest retreat. While the cold definitely put a damper on the regular movement in and around Chicago, the news kept churning and, true to form lately, Chance found himself in the center of things with additional donations to CPS and plenty of praise for it. Meanwhile, Pitchfork unveiled their full lineup which includes several locals again, the city offered up some jobs for teens and much more on our latest News Round Up. 

CPS Students Pen Open Letter to Chance The Rapper

Over the course of the last few weeks, Chance The Rapper has emerged as perhaps the biggest and most visible proponent for the Chicago Public School system. Between sparring with Illinois Gov. Bruce Rauner, donating $1 million to the public school system and announcing a subsequent $10,000 for nine additional schools, Chance has proven to be a catalyst for the positivity our city sorely needs. It seems as though his efforts aren't going unnoticed by those he has aimed to affect, either, as the students in CPS have been quick to show their gratitude in the form of drawings, thank you letters and plenty of high-fives and hugs. Three Lakeview students however decided to pen their thoughts, taking time to underline just how important the 23-year-old Grammy winners actions have been to them personally. Check the whole thing out below.

"First and foremost, we as Chicago Public School students would like to thank you for the supportive donation to our schools. As we all know, CPS has been struggling financially, and your donation has really given us a push to get to where we need to be and possibly motivate others to give back to the community as well. This is only one of the many things that you have done to improve our Chicago.

After you gave CPS the push that was needed to help give us students what we deserve, you encouraged other celebrities such as Derrick Rose to do so as well. If this goes on, CPS could be saved and our schools could receive the best educational experience we are worthy of. You are one of the reasons this can be made possible.

All of the things that you do for our city never go unnoticed. All of the free concerts you host and all the time you spend here in the city really show you care. We notice it. We look up to you because the fame usually takes humility away from artists, but it hasn’t changed you.

There are many big celebrities from Chicago, but you are one of the few that really give back. It is evident that you sincerely care for the youth here. This is why you are an inspiration to us. We appreciate you for not only representing us through your music, but also through your actions.

In Chicago, a person is shot every 2 hours and 48 minutes. A person is murdered every 14 hours and 27 minutes, and you helped stop gun violence in Chicago for 42 hours with the help of your Twitter account and various Chicago radio stations. Even though this was three years ago, the fact you had such a tremendous impact on Chicago shows how much the people of this city look up to you.

You're more than just an artist to us, you are a way of life. You make music that we can relate to on many levels, because you know what living in Chicago is like, and you want to make changes in the city. We may not be from the same side but we come from the same city. We just want to thank you for not forgetting where you came from and helping the city of Chicago in more ways than just being an inspirational rapper. You’re using your fame for good and not just to look good. You gave $1 million dollars of your personal money to Chicago schools and that's something no one has done for us.

We thank you for supporting Chicago's minority youth when not many others have put time to think about the kids. As minority students we feel ignored and as though we don’t have enough support from bigger influences like you. Being born and raised in Chicago is not easy at all. There are so many stereotypes and restrictions we have as teenagers due to the frequent violence and crimes. Your music puts some at ease because we know that someone cares and someone has experienced these daily struggles too. You and your music have taught us that you can be true to yourself and still be successful, still be self-made.

Once again, thank you for aiding us and giving something back to the city we know and love, Chicago. "

Sincerely, Alex Rojas, Alondra Cerros, and Annelisse Betancourt Lake View High School Students Chicago, Illinois

Pitchfork Selects A Handful of Chicagoans to Perform In Their Own Backyard

Pitchfork has officially announced their full festival lineup after announcing headliners A Tribe Called Quest, Solange and LCD Soundsystem last week. Additional acts include Danny Brown, Vince Staples, Kamaiyah, Isiah Rashad, Frances and the Lights, Madlib on the hip-hop side. Pinegrove, Dirty Projectors, Angel Olsen, Nicolas Jaar, and the Avalanches round off other genres. In good tradition, Pitchfork has a handful of Chicago talents featured throughout the lineup like rapper Joey Purp, singer Jamila Woods, rock band NE-HI and house legend Derrick Carter. The festival itself is held at Union Park, home to other festivals like North Coast Music Festival in the fall.

The full line-up can be found at Pitchfork.com/festival/chicago. Tickets and 3-day passes are on-sale now! Single day passes are $75 and 3-day passes are $175.

One Summer Chicago Offers Summer Jobs for Chicago Teens

While the snow outside might now have one's mind squarely on the summer months just yet, the city of Chicago is looking to fill some positions ahead of the annual thawing and has roughly 30,000 positions for seasonal work available to Chicago teens. The jobs are currently being offered as part of the city's "One Summer Chicago' intiative. Teens and young adults ages 14-24 can apply online at onesummerchicago.org by May 15, officials said. 

If you're looking to follow suit of recent Chicagoans like Chance above, the city is also allowing residents to donate to the Robert R. McCormick Foundation to expand the opportunities for the teens and young adults which began in 2011 offering 700 jobs. 

While the evolution of the program is certainly a positive for the city, Mayor Rahm Emanuel has been frustrated by the lack of federal and state funding put forward. While the jobs are widely available to teens and young adults, roughly 2,000 will be set aside for the city's "most at-risk teens and young adults" who will also receive ""intensive mentoring and cognitive therapy" as part of an effort designed to reduce crime."

"Every year, One Summer Chicago opens the doorway of opportunity to a valuable work experience and a summer paycheck today, leading our children to realize their full potential and a brighter future tomorrow," Mayor Rahm Emanuel said. "The federal government and the state government [are] A.W.O.L. on supporting our kids."

According to DNAInfo, "Also on Tuesday, Emanuel endorsed an effort by Thrive Chicago, a non-profit group, to help 10,000 16- to 24-year-old Chicagoans find work or go back to school by 2020."

Wormhole Coffee Coming to Logan Square

As Logan Square quickly transforms into a semblance of Wicker Park, it seems the staples from one neighborhood are quickly bleeding into another as the iconic Wormhole Coffeeshop in Wicker announced that it would be opening a new location, its second, just northwest on Milwaukee ave.

According to DNAInfo, "Travis Schaffner was issued a city permit to convert a medical office at 3431 W. Fullerton Ave. into a coffee shop/cafe with on-site bean roasting. The cost of construction was listed at $215,000, according to the permit."

The new location will contain a new concept and not be a furtherance of the 80's video game-themed decor of the location at 1462 N. Milwaukee Ave. 

"The Logan Square project is a cafe/roasterie with very, VERY new and fancy equipment which I am hesitant to discuss but it's going to create quite a serious windfall of goodness for the quality of our beans," Schaffner wrote in an email.

The move is the latest in a series of migrations to the newly-minted hipster-enclave that has changed dramatically over the course of the last five years. Recently, the Double Door and American Apparel joined a quickly-rising list of longtime commercial residents that have since left the neighborhood, which is quickly becoming overrun by over-priced condos and chic new moms with baby carriages.