Monthly Archives: March 2021

Optimism in Local Business Recovery

It has been a tough year for businesses around the world.  Chicago has not escaped the wrath of the coronavirus pandemic but thankfully seems to be coming back to its former glory, at least in some industries and regions.

As we know, some government aid has been received for this. More should be coming though. For example, the recent bill that was just passed by the House for $1.9 trillion for pandemic recovery entitling around 85% of adults to $1,400. Further, $28.6 billion is being earmarked for grants to be given to restaurants that encountered a decline in revenues due to the pandemic. These grants should be the same as the revenue each restaurant lost, capping at $10 million per company and $5 million per location.

It is hoped that businesses that were forced to shutter during the pandemic will have enough money to re-open and re-hire their staff. And it seems this is already happening right here, at the local 92nd and South Stony Island at Nipsey’s Restaurant.  They are looking for new staff as the restaurant has received permission to open for indoor dining once more. The owner, Teddy Gilmore said:

“I’m offering $150 to employees to get vaccinated. Once they get vaccinated, we’ll give them another $150, so it opens the doors of the place safely and allows us to hire plenty of people in the community.”

In related news, Primark has just opened on State Street in the Loop – in the place where Old Navy and Gap used to be.  This Irish firm already has a presence in the East Coast but Chicago has been on its wishlist for a while as US firm president Andy Stewart pointed out “There’s more than 50 million tourists that come here every year.” He believes that things are really looking up and that by “this time next yea we will be on the cusp of a retail revitalization.”

Ethics in Chicago Firms

For the second year in a row, a Chicago company has been recognized as one of the 2021 World’s Most Ethical Companies.  

ADM received this recognition from Ethisphere, the organization which engages in endeavors to increase ethical business practices internationally.  On receiving the recognition, ADM CEO and Chairman Juan Luciano said:

“Each day, our global team of 38,000 unlocks the power of nature to enrich the quality of life, while following the highest standards of honesty and integrity. We are deeply proud of being named one of the World’s Most Ethical Companies again this year, and for the recognition of our deep commitment to ethical business practices, transparency and corporate citizenship.”

ADM was established in order to:

“unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over.”

Towards the end of last year, ADM set out plans in conjunction with InnovaFeed to create a new insect protein facility in Illinois to produce insect feed as a protein ingredient in animal feed.

Public Finance Agenda

In this video, Mayor Lori Lightfoot discusses the importance of officials, individuals, communities and those in the private sector coming together to establish a new agenda. In an attempt to face the post-COVID-economic world a new public fiscal strategy needs to be created.