With more than two dozen Fortune 500 companies making their headquarters in Chicago, the Windy City is a financial powerhouse. The city produced $419 billion in 2005 and boasts more than 200,000 firms. More than 11 million contracts exchange hands on the Chicago Mercantile Exchange a day and $90 billion in currency transactions.
Entrepreneurs are seizing their chance and making the most of the city with more than 172,000 companies with fewer than 20 employees.
FOX Business reporter Sandra Smith heads back to her hometown to prove American prosperity is alive and well.
Chicago: By the Numbers
29 Fortune 500 companies call Chicago home, including Boeing, Wm. Wrigley and Northern Trust Corp.
The Sears tower is the nation’s tallest building with 110 floors
The Magnificent Mile stretches across8 city blocks with over 460 stores
Renters pay a median price of $803 a month for housing
Chicagoans took home a median income of $43,223 in 2006
190,000 travelers pass through O'Hare International Airport every day
The median house value was $277,900 in the Windy City for 2006
More than 2 million books are housed in the world’s largest public library: Harold Washington Library Center
$16 billion went to NAFTA country partners in 2007
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left? The skyline. Two buildings expected to be the tallest in the world are already in the works in Chicago adding to the large number of high rises that have been popping up over the past several years. Yet you can still count on the Sears tower and the John Hancock building to define the ever-changing Chicago skyline.
2.) What one characteristic in your life now do you credit your hometown for planting in you? Friendly demeanor. The people in the Midwest are among the friendliest in the country. Complete strangers smile and wave when they pass- I love that. It was all about the people for me.
3.) What do you miss the most? The loop. It's an area in downtown Chicago where the elevated train makes a loop around what is essentially the business district. I grew up going down there with my dad, seeing my uncles and my brother at the exchanges. To this day, when I am back there, I bop my head into brokerages and trading floors to say hi to people that have known me since I was a kid.
4) Given the chance, would you move back? Why?
Never say never. Everyone always asks me- which do you prefer? Chicago or New York? I say apples and oranges. I love both, but for very different reasons.
5.) What economic opportunity has your hometown lost? Closing down Meigs field. Big mistake.
6.) What does your hometown not get enough credit for? Its beauty. It’s funny how people picture Lake Michigan as some tiny little lake. It is a spectacular place to sail, run or bike on the lakefront, or even just take in the view.
The Business of Baseball
*Statistical Source: Forbes.com
Where the Jobs Are
Agricultural
<1%
Construction
6%
Manufacturing
11%
Wholesale Trade
3%
Retail Trade
9%
Transportation
6%
Information
3%
Finance, Insurance, Real Estate
9%
Professional, Scientific, Management
14%
Education, Health Care, Social Assistance
20%
Arts, Entertainment, Recreation, Food Services
10%
Other Services
5%
Public Administration
5%
*Source: Census Bureau, American Community Survey 2006
Well, it was the "Homeland" of "Al Capone"!, what changes? What is the "Breakdown of Profession's"? Bet "Lawyer's & Banker's plus Accountant's" make up 80% @ least! "Cynical & Old", but probably not far of the "Truth"!
August 22, 2008 at 8:20 pm
Boom2Bust.com
"FOX Business reporter Sandra Smith heads back to her hometown to prove American prosperity is alive and well." As a native Chicagoan, I beg to differ. In fact, just take a look at the current headlines at the bottom of this post:
"What’s Happening in Chi-town:
Cubs Fans Make Unusual Futures Bet On World Series Tickets
Chicago Tribune Cuts 14% of News Staff
Southern Illinois University: Drinking Age Should Stay Put
Surprise Cargo Inspection Conducted at O’Hare Airport
New Wave of Riders Spurs Amtrak Upgrade Talks
Chicago Mayor: Politics Won’t Play Role in City Layoffs"
Chicago Tribune cuts news staff? City layoffs? Doesn't sound prosperous to me. From Chicago's own CBS Channel 2 on August 14:
Mayor Daley isn't mincing words - one word in particular: recession. CBS 2's Dana Kozlov reports.
"We're in a recession," Mayor Daley said. "No one wants to admit it, but we are in a recession."
Mayor Daley laid it on the line the same day city officials announced Chicago's biggest budget shortfall ever... Daley's financial officer says Chicago is facing a $420 million budget hole.
"Mayor Daley Says 'We're In A Recession'"
http://cbs2chicago.com/politics/mayor.daley.recession.2.795854.html
I love this town, but the fact is, we have some major economic challenges ahead of us.
Paul
Well, it was the "Homeland" of "Al Capone"!, what changes? What is the "Breakdown of Profession's"? Bet "Lawyer's & Banker's plus Accountant's" make up 80% @ least! "Cynical & Old", but probably not far of the "Truth"!
Boom2Bust.com
"FOX Business reporter Sandra Smith heads back to her hometown to prove American prosperity is alive and well." As a native Chicagoan, I beg to differ. In fact, just take a look at the current headlines at the bottom of this post: "What’s Happening in Chi-town: Cubs Fans Make Unusual Futures Bet On World Series Tickets Chicago Tribune Cuts 14% of News Staff Southern Illinois University: Drinking Age Should Stay Put Surprise Cargo Inspection Conducted at O’Hare Airport New Wave of Riders Spurs Amtrak Upgrade Talks Chicago Mayor: Politics Won’t Play Role in City Layoffs" Chicago Tribune cuts news staff? City layoffs? Doesn't sound prosperous to me. From Chicago's own CBS Channel 2 on August 14: Mayor Daley isn't mincing words - one word in particular: recession. CBS 2's Dana Kozlov reports. "We're in a recession," Mayor Daley said. "No one wants to admit it, but we are in a recession." Mayor Daley laid it on the line the same day city officials announced Chicago's biggest budget shortfall ever... Daley's financial officer says Chicago is facing a $420 million budget hole. "Mayor Daley Says 'We're In A Recession'" http://cbs2chicago.com/politics/mayor.daley.recession.2.795854.html I love this town, but the fact is, we have some major economic challenges ahead of us.