The global credit crunch has claimed another Chicago victim - this one sits just across Wacker from the Chicago River in the heart of downtown. You may recognize it as is the concrete base of what is supposed to be the Waterview Tower. Click here for the official site. It touts among other things, “the finest hotel in the world”, and boasts some beautiful renditions of a soaring glass structure. The only problem is, right now, there’s no work being done on the building, and there hasn’t been for almost a year. It’s just a few stories of concrete, with metal rods poking out. See, the contractors, Teng & Associates, apparently started building before they secured all of the money for the project. Then the credit crisis hit, and the banks backed out.‚ The workers packed up and the cranes left, leaving just the bare shell of the first few stories. Now, a bad situation gets worse, as the high-end Shangri-La hotel is backing out of the deal. Here’s a statement they sent over today (bolding mine):
SHANGRI-LA HOTEL, CHICAGO PROJECT SUSPENDED
Shangri-La Asia Ltd’s wholly owned subsidiary SLIM (USA) Inc. signed contracts with Waterview LLC, the project’s developer, to provide pre-opening technical assistance services and later to operate the Shangri-La Hotel, Chicago. Under the current economic environment, regrettably, the implementation of the hotel project has been suspended with no indication of when activities will resume. Accordingly, SLIM (USA) Inc., in exercise of its contractual rights under the agreements, has served a notice on the developer terminating its contracts relating to this project. Shangri-La’s commitment to the North American market remains strong. The group’s first North American property opened on January 24, 2009 in Vancouver. For more information, please contact...
We’ve sent Susie An over to Waterview Tower to take some pictures, but until we get those back... Let Me Google That For You Click This Link.‚ Do it. When I discovered this tool, I was pretty excited, because one thing I do that was not mentioned in the job description is googling random facts for people that call into the newsroom.‚ ‚ I love our listeners, because they’re generally very engaged and intelligent, but sometimes, they think the best way to find out basic facts, completely unrelated to the day’s news, is by calling my desk.‚ For example... Me: WBEZ news desk, Ammad speaking... Caller:‚ Hi there news desk. When does daylight savings time start? Me: Let me google that for you... Or... Me: Chicago Public Radio, news desk... Caller: Hey pal, quick question.‚ When was Mayor Daley born? Me: Let me google that for you... Now, I never actually say “Let me Google that for you”, I generally just do the googling and politely relay the info, but you get the point.‚ There’s pledge money at stake here folks, and unfortunately I can’t google up any of that. The Daybook 
Taking a sneak peak at what’s in store today...
- Cook County Sheriff Tom Dart is suing Craigslist.‚ He says the popular classified website that some blame for killing the newspaper biz is also the country’s‚ biggest source of prostitution. I’d like to be added on if there’s a class action, because the kick-stand on the drum set I bought last week from Mike in Humboldt Park is totally busted.‚ What a waste of $7, not to mention the emotional distress involved...
- Dan Fore, a homeless man in‚ Oak Park and a candidate for trustee, was kicked off the village’s ballot for not having a mailing address.‚ This was likely done by high-falootin’ home-having types. He’s challenging the ruling, and we have a reporter in court covering the goings on.‚ We’ll let you know if big news breaks in this case.
- And Attorney General Lisa Madigan is holding an event about potential fraud issues facing Illinois consumers.‚ Be afraid, Mike in Humboldt Park.‚ Be very afraid.
Plenty more stuff we’re working on too, including several major features from our beat reporters.‚ I’d fill you in, but I have to go back to doing stories for the “radio”.‚ Dunno if any of you whippersnappers have heard of it.‚ If not, feel free to Google it, but I’m not doing it for you.
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