
Nov. 27, 2023 - Full Show
11/27/2023 | 26m 48sVideo has Closed Captions
Watch the full Nov. 27, 2023, episode of "Chicago Tonight."
Election season is officially underway as candidates begin filing. How retailers fared on Black Friday and Cyber Monday and what that means for the economy.
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Nov. 27, 2023 - Full Show
11/27/2023 | 26m 48sVideo has Closed Captions
Election season is officially underway as candidates begin filing. How retailers fared on Black Friday and Cyber Monday and what that means for the economy.
Problems playing video? | Closed Captioning Feedback
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In this Emmy Award-winning series, WTTW News tackles your questions — big and small — about life in the Chicago area. Our video animations guide you through local government, city history, public utilities and everything in between.Providing Support for PBS.org
Learn Moreabout PBS online sponsorship>> THANKS FOR JOINING US CHICAGO TONIGHT AND PARIS SCHUTZ.
HERE'S WHAT WE'RE LOOKING AT.
CANDIDATES BEGIN FILING TO BE ON THE BALLOT FOR MARCH'S PRIMARY.
HEATHER CERON WALKS US THROUGH WHAT OFFICES ARE UP FOR GRABS.
IT'S THE MOST WONDERFUL TIME OF THE YEAR FOR RETAILERS.
WE FIND OUT HOW THEY DID ON BLACK FRIDAY AND CYBER MONDAY AND WHETHER THOSE DAYS MATTER ANYMORE.
AND LOCAL GARDENERS COULD SOON EXPERIMENT WITH NEW PLANTS.
LOOK AT WHY.
NOW TO SOME OF TODAY'S TOP STORIES.
11 MORE ISRAELI HOSTAGES ARE RELEASED AS PART OF A CEASE-FIRE DEAL BETWEEN ISRAEL AND THE GAZA MILITANT GROUP HAMAS.
>> LAST RELEASED 11 ISRAELI WOMEN AND CHILDREN.
TODAY, ISRAEL IS EXPECTED TO RELEASE 33 PALESTINIAN PRISONERS.
THIS IS THE 4TH HOSTAGE RELEASE AS ISRAEL AND GAZA HAVE AGREED TO EXTEND THE CEASE-FIRE 2 MORE DAYS, HAMAS IS REPORTED TO BE HOLDING AS MANY AS 175 MORE.
MULTIPLE REPORTS SAY MORE THAN 13,000 PALESTINIANS AND 1200 ISRAELIS HAVE BEEN KILLED.
SO FAR SINCE THE WAR BEGAN ON OCTOBER, 7TH.
DEJA VU ALL OVER AGAIN AT THE FEDERAL CORRUPTION TRIAL OF FORMER ALDERMAN ED BURKE.
ANOTHER DEFENSE ATTORNEY COMES DOWN WITH COVID AND THAT SHORTEN TODAY'S PROCEEDINGS.
THE JUDGE DID ALLOW ONE WITNESS TO FINISH HER TESTIMONY.
THAT'S PAM SMITH, OFFICIAL WITH THE COMPANY THAT OWNED THE BURGER KING THAT BURKE ALLEGEDLY TRIED TO EXTORT TOMORROW.
PROSECUTORS ARE SET TO OUTLINE THE ALLEGED SCHEME TO SHAKE DOWN DEVELOPERS THAT REDID THE MASSIVE OLD MAIN POST OFFICE BURKE IS CHARGED ALONGSIDE FORMER TOP AIDE PETER ANDREWS AND BUSINESSMAN CHARLES, KUWAIT.
THE STATE OF ILLINOIS IS PLEDGING TO SPEND 65 MILLION DOLLARS TO FUND TEMPORARY MIGRANT SHELTERS IN BRIGHTON PARK AND LITTLE VILLAGE AS CONSTRUCTION EQUIPMENT WAS DELIVERED TODAY TO THAT BRIGHTON PARK SITE ON 38TH IN CALIFORNIA.
A MERRILL SPOKESMAN SAYS WORK WILL BEGIN THIS WEEK ON BOTH SHELTERS WITH MIGRANTS POSSIBLY MOVING IN NEXT WEEK.
LOCAL 12TH WARD ALDERWOMAN JULIO RAMIREZ EXPRESSED WORRY ABOUT POSSIBLE ENVIRONMENTAL CONTAMINATION ON THE BRIGHTON PARK SIDE.
MAYOR'S OFFICE SAYS IT WILL RELEASE A STUDY ON THAT IN THE COMING DAYS.
THE OTHER LOCATION, HE'S IN A BAND AND CVS IN LITTLE VILLAGE.
MORE ON THAT ON OUR WEBSITE.
THE CHICAGO PARK DISTRICT IS THE BENEFICIARY OF A NEW FEDERAL GRANT.
SPECIFICALLY THE MONEY WILL GO TO EXPAND PROGRAMS AT THE WEST SIDES.
COLUMBUS PARK, FIELD HOUSE, PART OF THAT INVESTMENT WILL GO TO PROVIDING FREE WI-FI ACCESS THROUGHOUT THE PARK.
PARKS IS STEPPING IN TO ESTABLISH WI-FI IN THE PARK.
IT'S NOT JUST ABOUT BRINGING.
>> TECHNOLOGY AND CONNECTIVITY AND INCLUSIVITY TO THAT PART.
BUT IT'S ACTUALLY BRINGING CONNECTIVITY TO THE ENTIRE COMMUNITY BECAUSE WE'RE ALSO EXPANDING WIFI INTO THAT LOCAL AREA.
>> UP NEXT, CANDIDATES FOR THE UPCOMING PRIMARY BEGIN FILING TO BE ON THE BALLOT.
HEATHER SHARON WITH THAT STORY RIGHT AFTER THIS.
>> CHICAGO TONIGHT IS MADE POSSIBLE IN BY ALEXANDRA AND JOHN NICHOLS.
THE GYM AND K MAYBE FAMILY.
THE POPE BROTHERS FOUNDATION.
AND THE SUPPORT OF THESE DONORS.
>> OFF TO THE RACES ELECTION, 2024 OFFICIALLY GETS UNDERWAY TODAY AS DOZENS OF CANDIDATES HOPING TO WIN COUNTY OR STATE OFFICE CROWDED INTO THE PET WAY DOWN IN THE LOOP IN THE HOPES OF BEING FIRST ON THE BALLOT.
WDW NEWS REPORTER HEATHER SEAN JOINS US NOW WITH A LOOK AND WHO IS SET TO RUN IN THE MARCH 19TH PRIMARY ELECTION AND WHY THE MOST IMPORTANT RACE WON'T FUTURE ANY CANDIDATES.
HEATHER, IT'S THE MOST SOMETHING TIME OF THE YEAR.
I THINK ALL HAVE LOTS OF MEMORIES BEING DOWN WAY.
AND FOLKS COMING IN WITH THEIR STACKS OF A PETITION.
SO TAKE US THROUGH WHAT OFFICES ARE UP FOR GRABS RIGHT NOW.
WELL, THE COOK COUNTY RACES ARE REALLY GOING TO BE AT THE TOP OF THE BALLOT CHICAGO AREA VOTERS.
WE ARE GOING TO ELECT A NEW STATE'S ATTORNEY, A NEW CIRCUIT COURT CLERK AND BUNCHES OF SEATS ARE UP FOR GRABS ILLINOIS, HOUSE AND SENATE, ALONG WITH A SPOT ON THE ILLINOIS SUPREME ALONG WITH ALL OF THE CONGRESSIONAL U.S. SEATS UP FOR THE ILLINOIS DELEGATION.
LET'S NOT FORGET THE PRESIDENTIAL ELECTION 20 FOR A VERY BIG YEAR.
SO WHAT'S AT STAKE IN THE RACE TO SUCCEED?
>> CURRENT COOK COUNTY STATE'S ATTORNEY KIM FOXX WILL THE DEMOCRATIC PRIMARY IS LIKELY TO PICK CLAYTON HARRIS?
A UNIVERSITY OF CHICAGO LECTURING AN ATTORNEY AGAINST EILEEN O'NEILL BURKE, WHO WAS A FORMER APPELLATE COURT JUSTICE.
NOW, HARRIS HAS THE ENDORSEMENT OF THE COOK COUNTY DEMOCRATIC PARTY.
AND HE SAYS THAT HE THINKS THIS RACE IS REALLY GOING TO TURN ON THE IMPLEMENTATION OF THE CRIMINAL JUSTICE REFORM ACT KNOWN AS THE SAFETY ACT.
AND IT MAY JUST BE FILING TODAY, BUT HE'S GOT HIS SOUND BITES DOWN.
HE SAYS THAT HE'S CONVINCED THAT THE SAFETY ACT HE'S MADE COOK COUNTY SAFE OR >> VERY IMPORTANT SOUND BITE.
YOU KNOW, HEATHER, EVERY TIME WE COVER THIS, THERE'S THIS WHOLE RACE TO BE ON THE TOP OF THE BALLOT.
PEOPLE GET THEIR LIKE LIKE AT THE CRACK OF DAWN BECAUSE THEY WANT TO BE FIRST.
I WAS AT HAPPENING TODAY.
SO HARRIS WAS IN LINE BRIGHTON EARLY, BUT O'NEILL BURKE WAS AND HER CAMPAIGN TOLD ME THAT SHE PLANS TO TO FILE ON MONDAY.
SHE SAYS THE CAMPAIGNS GOOD SHAPE AND SHE DOESN'T NEED TO FIGHT FOR BALLOT POSITION.
AND I DON'T THINK WE'VE SEEN ANY SCIENTIFIC STUDIES THAT SAY WHETHER YOU HAVE THE TOP POSITION REALLY HELPS YOU ARE NOT SO.
>> YOU'RE ALSO READING THAT THERE'S A RACE FOR THE NORTHWEST SIDE, THE ILLINOIS HOUSE SEAT THAT THAT WILL BE BELLWETHER.
>> IN THIS SORT OF BATTLE BETWEEN PROGRESSIVE ORGANIZATIONS OVER THERE AND MORE CONSERVATIVE CANDIDATES WHO ARE TALKING ABOUT LIKE THE 45TH WARDA, JEFFERSON PARK AREA.
SO THIS IS THE 20TH STATE SENATE DISTRICT WHERE NATALIE TORO WAS APPOINTED TO FILL THE REMAINING TERM OF CHRISTINA PAST YOAN SIZE.
WHO'S NOW MAYOR JOHNSON'S TOP AIDE.
INSTEAD SHE FACE SHE WILL FACE CROSS THE L A GUZMAN WHO HAS THE PROGRESSIVE POLITICAL MOVEMENT THAT HELPED ELECT BRANDON JOHNSON BEHIND HER.
NOW, THE RESULTS OF THIS RACE REALLY MAKE IT CLEAR WHETHER PREVAILING POLITICAL FORCE ON THE NORTHWEST SIDE IS PROGRESSIVE ARE MORE CONSERVATIVE.
POLITICIANS LIKE SARAH COURT CAR LURK IRIS MARTINEZ, WHO IS IN A DONNYBROOK OF A RACE TO KEEP HER DAY JOB.
AND HER POSITION IS THE 33RD WARD COMMITTEE.
PAT WAS TAKEN THAT.
44 54 IS A DIFFERENT BATTLE ON ITS OWN, BUT THIS IS AT HUMBOLDT PARK AREA AND THAT BATTLE OVER THERE.
>> MIGHT IT?
SO WHAT COMMITTEE PERSON DOES BECAUSE IT'S A VERY VAUNTED POLITICAL POST IN CHICAGO ARE SO MANY YEARS, BUT MOST SKY WAS PROBABLY DON'T REALLY UNDERSTAND WHAT IT DOES.
WELL, USED TO HAVE A LOT MORE POWER THAN UNDER THE OLD MACHINE DAYS.
BUT NOW THEIR PRIME SOURCE OF POWER FOR COMMITTEE PEOPLE'S TO APPOINT PEOPLE TO VACANT POSITIONS, JUST LIKE THE ONE LEFT VACANT BY HASSAN ON ISAIAS.
AND THAT IS WHY IRIS MARTINEZ FINDS HERSELF IN THE CROSSHAIRS OF ALDERMAN ROSANA RODRIGUEZ SANCHEZ, A LEADING MEMBER OF THE DEMOCRATIC SOCIALIST CAUCUS ON THE CITY COUNCIL WHO WANTS TO REMOVE HER FROM THAT POSITION OF PARTY POWER.
THERE'S ALSO SEES FOR CONGRESS ON THE BALLOT AS YOU MENTIONED.
SO WHAT ARE THE CONTESTS ARE WATCHING?
WELL, JESUS GARCIA, HE'S RUNNING AGAIN IN THE 4TH DISTRICT.
HE WILL FACE ALDERMAN RAYMOND LOPEZ OF THE 15TH WARD, WHO'S PROVED TO BE A THORN IN THE SIDE OF MAYOR BRANDON JOHNSON.
MUCH LIKE HE WAS A THORN IN THE SIDE OF MAYOR LORI LIGHTFOOT.
AND BEFORE THAT, RAHM EMANUEL, HE IS HOPING TO BRING MORE CONSERVATIVE LEADERSHIP TO THE 4TH DISTRICT IN THE 3RD DISTRICT.
DELIA RAMIREZ LOOKS TO HAVE A PRETTY EASY PASS TO RE-ELECTION WITH NO PROMINENT CANDIDATES ANNOUNCING YET AGAINST HER ARE A LOT OF THESE PRIMARIES, ESPECIALLY SO CLOSE TO OTHER ELECTIONS LIKE THE COUNCIL ELECTIONS CAN BE LOW TURNOUT.
BUT THERE REALLY IS A REASON FOR CHICAGOANS TO COME OUT HERE, EVEN THOUGH THERE'S NO COUNCIL SEAT ON THE BALLOT TO TELL US WHY.
WELL, FOR THE FIRST TIME SINCE THE 1800 CHICAGO VOTERS WILL GET A CHANCE TO WEIGH IN ON A BINDING REFERENDUM THAT WILL SET POLICY FOR THE CITY OF CHICAGO.
AND THIS, OF COURSE, IS THE PROPOSAL KNOWN AS BRING CHICAGO HOME.
VOTERS WILL DECIDE WHETHER TO GIVE THE CITY COUNCIL POWER TO HIKE THIS REAL ESTATE.
TRANSFER TAXES ON THE SALES OF PROPERTIES OF MORE THAN A MILLION DOLLARS.
AND IF THEY DO, THE CITY COUNCIL WILL THEN HAVE TO DECIDE WHETHER TO RAISE NEARLY 100 MILLION DOLLARS EARMARKED FOR TO HELP THOSE WHO ARE UNHOUSED IN CHICAGO.
ALRIGHT, HARD TO BELIEVE.
ELECTION SEASON ALREADY UNDERWAY THE GREATEST TIME OF YEAR.
WILL ALL BE COVERING IT.
HEATHER, THANKS VERY MUCH.
THANKS, PARIS.
AND YOU CAN READ OTHERS FULL STORY ON OUR WEBSITE.
IT'S ALL A WTW DOT COM SLASH NEWS.
>> UP NEXT, ANOTHER SEASON UNDERWAY.
THAT'S THE RETAIL SHOPPING SEASON.
HOW THEY FARED LAST WEEK IN AND WHAT IT MEANS FOR THE ECONOMY.
I WOULD ASSUME SOME PEOPLE ARE MULTITASKING WHEN THEY WATCH THIS SHOW AND ONE OF THE OTHER ACTIVITIES YOU MIGHT BE UNDERTAKING TODAY, ONLINE SHOPPING.
AMERICAN SHOPPERS ARE EXPECTED TO SPEND CLOSE TO 12 AND A HALF BILLION DOLLARS ONLINE TODAY FOR SO-CALLED CYBER MONDAY.
BLACK FRIDAY SPENDING WAS ALSO STRONGER THAN EXPECTED UP 7 AND A HALF PERCENT FROM LAST YEAR.
THAT'S LIKELY EARLY FOR RETAILERS WHO ARE WORRIED INFLATION MIGHT PUT A DAMPER ON HOLIDAY SPENDING.
JOINING US WITH THEIR INSIGHT ON HOW THE ECONOMY AND THE HOLIDAY SHOPPING SEASON ARE SHAPING UP.
OUR AND ALLY RETAIL STRATEGY CONSULTING WITH MCMILLAN DOOLITTLE, CONSULTING EDWARD STUART, PROFESSOR EMERITUS OF ECONOMICS AT NORTHEASTERN ILLINOIS UNIVERSITY, OUR OLD FRIEND BRIGHT RIGHT NEXT DOOR AND MARTIN BLOCK, PROFESSOR EMERITUS OF MARKETING AT NORTHWESTERN UNIVERSITY AND FORMER EXECUTIVE DIRECTOR OF THE RETAIL ANALYTICS COUNCIL.
REALLY GRATEFUL THAT ALL OF YOU ARE HERE TODAY.
SO MARTIN, HOW HAPPY ARE AFTER HOLIDAY WEEKEND?
SO FAR THEY SHOULD BE HAPPY.
>> BECAUSE I THINK DESPITE ALL OF THE REASONS FOR PEOPLE TO BE I MORE CONSUMERS ARE SAYING WE WANT TO GO OUT AND SHOP OVER THE.
FOUGHT FIVE-DAY A THANKSGIVING ONE.
THAT IS BECAUSE EVERYONE SORT OF IN THESE POLLS FEELS PESSIMISM ABOUT THE ECONOMY, ABOUT THE POWER OF THE DOLLAR AND YET.
>> NUMBERS ARE OKAY.
THERE'S A PARADOX.
WHEN PEOPLE ARE SAD.
THEY WILL SHOP.
TO MAKE THEMSELVES FEEL BETTER.
STUDIES OF DEPRESSION PEOPLE WHO ARE DEPRESSED, SHOT MORE CONSUME MORE MEDIA.
WE DID A BIG STUDY FOR RETAILER.
LOOKING AT THE TRAFFIC AND WEATHER CONDITIONS OVER A LONG PERIOD OF TIME.
AND WHEN THE PEOPLE SHOP WHEN IT'S CLOUDY.
>> SO CLOUDY WEEKEND, THE EQUALS A.
RETAIL SALES AND STEWART, YOU KNOW, THE BROADER ECONOMY, A GDP HAS BEEN UP.
CONSUMER SPENDING IS UP.
WE TALK ABOUT THIS SORT OF PARADOX.
INFLATION MAY BE CURBING A LITTLE BIT.
WHAT YOUR SHORT TERM AND LONG TERM OUTLOOK SHORT TERM IS THAT INFLATION IS COMING DOWN SIGNIFICANTLY FOR MANY THINGS, GROCERIES, GASOLINE PRICES ARE MUCH LOWER, NOT NECESSARILY GOOD FOR THE ENVIRONMENT, BUT GOOD FOR THE CONSUMER.
>> EMPLOYMENT NUMBERS ARE STILL STRONG.
SO AS MARTIN SAYS, PEOPLE MAY FEEL BAD, BUT THE UNDERLYING ECONOMY, THE REAL ECONOMY IS QUITE GOOD.
AND SO THEY HAVE THEY HAVE THE MEANS.
AND AND NOW THAT PRICES NOT GOING UP QUITE AS FAST AND SOME PRICES FOR LIKE TELEVISION SETS AND ENTERTAINMENT EQUIPMENT ACTUALLY FALLING QUITE SIGNIFICANTLY >> YOU COVER RETAIL HERE.
SO WE DON'T SEE THE HEADLINES OF FOLKS CAMPING OUT IN FRONT OF STORES BUSTING DOWN THE WINDOW AND TEARING EVERYTHING UP TO GET ELECTRONICS AND T VISA BLACK FRIDAY.
WHAT USED TO BE?
>> BLACK FRIDAY IS CONTINUE TO EVOLVE OVER THE YEARS, ESPECIALLY WITH THE PANDEMIC.
IT'S REALLY TAKEN SHAPE IN NEW WAY WHERE YOU'RE REALLY BEEN DONE ONLINE AND OFFLINE.
NOBODY GOT TRAMPLED.
AS FAR AS I ON BLACK FRIDAY.
BUT MORE AND MORE CONSUMERS ARE SHIFTING IN WAYS THAT YOU'RE SPENDING.
I DON'T KNOW ABOUT YOU GUYS, BUT LAST WEEK I SCARFED DOWN MY TURKEY, PUT FOOTBALL ON AND THEN SCROLLED AND THAT'S NOT TO SAY THAT BRICK AND MORTAR IS GOING AWAY THERE ARE STILL CERTAIN THINGS ASPECT OF THE EXPERIENCE AND SERVICE THAT CAN'T BE DUPLICATED ONLINE.
BUT IT'S REALLY ABOUT ADAPTING AS RETAILERS.
THE WAYS THAT CUSTOMERS WANT TO SHOP WHEN AND ONE THEY WANT TO SHOP.
>> SO SO, MARTIN, I MEAN, IS THERE STILL THIS SORT OF NOTION THAT THIS IS THE KICKOFF TO HOLIDAY SHOPPING SEASON OR DOES IT START EARLIER LIKE HALLOWEEN WITH STORES PUTTING UP ALL THEIR PROMOTIONS?
IS IT JUST SO JUST KIND OF MORE OF A ALL YOUR THING.
THERE'S >> AWFULLY STRONG, TRADITION THAT WOULD BE VERY HARD TO BREAK.
AND I THINK IS MAN THAT WAS SAYING ONE OF THE INTERESTING THINGS.
IS THAT BLACK FRIDAY IS TURNED INTO A FIVE-DAY EVENT.
AND IN DATA I PLAYED WITH ABOUT A 3RD OF PEOPLE SAY THEY WON'T SHOP OVER THE 5 DAYS.
A 3RD WILL SAY ONE DAY AND ANOTHER 3RD, 2 OR MORE.
SO, I MEAN, IT'S REALLY SPREAD SPREAD OUT LIKE TODAY, SO-CALLED CYBER MONDAY, ITS DOORS.
IT'S GOING TO BE A GOOD CYBER MONDAY IN A GOOD HARBINGER WHERE THE ECONOMY IS.
I THINK SO.
AND THERE ARE OTHER THINGS GOING ON IN THE POST-PANDEMIC ECONOMY.
PEOPLE AREN'T QUITE >> IS MEANT BUYING THINGS BUT THEY'RE BUYING EXPERIENCES.
SO RESTAURANTS ARE FULL.
HOTELS ARE FULL.
>> AIRPLANES ARE FULL.
SO PEOPLE ARE SHIFTING DURING THE PANDEMIC PEOPLE BUT THINGS OR HOUSES.
AND AFTER THE PANDEMIC, PEOPLE ARE BUYING SO YOU MIGHT NOT SEE QUITE AS MUCH RETAIL SALES AT BIG BOX STORES.
BUT PEOPLE WHO HAVE RESTAURANT JOBS ARE OWN RESTAURANTS ARE GOING TO DO QUITE WELL.
>> AND THAT YOU MENTION THE BRICK AND MORTARS, YOU KNOW, STRUGGLING A LITTLE MORE.
YOU'RE ON YOUR PHONE INSTEAD OF GOING OUT THERE.
SO WHAT ARE THE BRICK AND MORTARS?
THE MALLS HAVE TO DO TO GET FOLKS OUT THERE?
>> I HIT THE NAIL ON THE YOU KNOW, YOU MENTIONED EXPERIENCES AND WE'RE SEEING MALLS REALLY TAKE SHAPE AND AND TAKE RETAIL EXPERIENCE BECOME MORE EXPERIENCIA.
ALL THERE ARE CERTAIN THINGS THAT YOU CAN'T DUPLICATE ONLINE.
I SO YOU GET THE HELP RIGHT AWAY.
CAN TOUCH AND FEEL THE PRODUCT.
YOU'RE GETTING MORE POP-UP STORES HAVE TO GET CREATIVE WITH THEIR SPACES.
YOU KNOW, SOME OF THE DEPARTMENT STORE SPACES ARE EMPTY.
SO CONVERTING THAT TOO MULTIPLE SUBDIVISIONS, A RETAIL OR HOUSING OR GYMS, FOR EXAMPLE, DIFFERENT RACES GET PEOPLE OUT AND GIVE A REASON TO SPEND MORE TIME AND MORE SHARE OF THEIR WALLET IN PERSON.
>> MARTIN, HOW IS A LOCAL MALL DOING?
IS IT REALLY THAT IMPORTANT IN TERMS OF THE BROADER RETAIL ECONOMY THESE DAYS?
WELL.
>> I THINK STORE POINT OF VIEW, MALLS IN GENERAL ARE PROBABLY NOT BOOMING, BUT SOME ARE.
I WHAT THEM ALL HAS TO DO OR THE STORES IN THE MALL HAVE TO DO IS THEY HAVE TO THINK ABOUT ENTERTAINMENT.
IT'S AN ASPECT SHOPPING AND FACILITATING SHOPPING IN GROUPS MAKING IT A SOCIAL EXPERIENCE.
>> AND STEWART, THE WE'RE TALKING ABOUT OF THE BROADER ECONOMIC NUMBERS A BIT AGO.
SO WITH INFLATION CURBING YOU, DO YOU THINK THE FED IS STARTING TO CONSIDER?
LOWERING INTEREST RATES?
YOU REALLY THINK THEY'RE THE NUMBER ONE QUESTION.
AND AND IT SAYS MORE HOPE THAN FORECAST.
BUT >> TO MY WAY OF THINKING AS A MACRO ECONOMIST THE INFLATION WE'VE HAD WASN'T CAUSED BY EASY MONEY AND BUDGET DEFICITS.
THE INFLATION WAS CAUSED BY CHIP SHORTAGES AND AND THE PANDEMIC.
AND SO RAISING INTEREST RATES WASN'T THE CURE.
BUT IT'S IT'S GOT TO SLOW THINGS DOWN LIKE HOUSING LIKE BIG TICKET ITEMS.
AND I HOPE THE FED THEY'RE STARTING TO BE A CHANGE OF OF THINKING AND THE CALMEST THAT THAT THE FED SHOULD BRING DOWN INTEREST RATES SOONER RATHER THAN WHAT I DID.
A STORY TALK TO AUSTAN GOOLSBEE, THE CHICAGO FED YOU REPRESENT WHO'S WHO'S ON THE MIKE COMMITTEE THAT DECIDES OR 80 SAYING LIKE WE STILL DON'T KNOW IF WE LANDED THIS PLANE YET.
SO DOESN'T SEEM TO ME THAT THERE THAT.
>> GOING TO TELL YOU THIS.
I THINK WON'T USE TERMINOLOGY.
JUST USE THE C Y A ITS ITS POLITICAL AD.
THEY'RE TRYING TO PROTECT THEIR REPUTATION AND NOT GET CALLED OUT.
IF THERE'S ANOTHER BOUT OF INFLATION.
BUT I'M HOPING THAT THAT THERE'S GOING TO BE MORE PRESSURE, POLITICAL PRESSURE AND ECONOMIC.
VERY QUESTION PRESSURE TO BRINGING INTEREST RATES DOWN.
AND I THINK THAT WILL BE REALLY GOOD FOR THE ECONOMY IN THE LONG RUN.
ALL RIGHT, AMANDA, WHAT OTHER SORT OF PRESSURES DO YOU SEE ON THAT MIGHT YOU KNOW, KEEPING SALES DOWN FROM WHERE THEY WANT THEM TO BE.
>> WELL, INTO A LITTLE WE ARE RETAIL STRATEGIST THAN YOU THINK AND THEN ANSWER THESE QUESTIONS WORK WITH RETAILERS ALL TIME THEY WITH THE CHALLENGES OF HEAD WINDS THAT WE'VE SEEN OVER THE PAST SEVERAL YEARS AS I MENTIONED, THERE'S NO INFLATIONARY COSTS.
WE'RE SEEING THEM SUBSIDE A BIT.
BUT THAT'S SOMETHING THAT'S BEEN COMPOUNDED OVER TIME.
LABOR IS MORE EXPENSIVE THAN EVER.
WE LOOK AT THE CONSUMER.
THEY DON'T NECESSARILY HAVE THE SAME AMOUNT OF SAVINGS AS THEY DID A COUPLE YEARS AGO.
ALL THE STUDENT DEBT LOANS ARE REALLY KICKING BACK.
AND SO A NUMBER DIFFERENT BOTH RETAILERS AS WELL AS CONSUMERS AND VIEWERS ARE EXPERIENCING.
AND SO IT'S A NEW ENVIRONMENT.
OF COURSE, THEY'RE WEATHERING THE STORM JUST LIKE EVERY OTHER COMPANY OUT THERE.
MARTIN, WHAT ABOUT IN THE CITY THINGS LIKE LABOR SHORTAGES OR, YOU KNOW, NEW NEW LAWS IN THE CITY OF CHICAGO THAT ARE MINIMUM WAGE, SICK TIME.
THINGS LIKE THAT.
>> WELL, IT CERTAINLY THINK THAT'S GOING TO PUT ADDITIONAL PRESSURE ON.
SECRET THING IS PRIVACY LAWS.
DON'T GET TALKED ABOUT ALL THAT MUCH.
BUT RETAILERS ARE NOW REPOSITORY IS LARGE DATABASES.
THE WILL NEED INCREASINGLY BE ABLE TO MINE AND USE.
AND HOW THOSE CAN BE MINED AND USED AND SHARED ARE BIG ISSUE.
IT WILL BE INTERESTING SO THINGS SORT OF LEGISLATIVE RIGHT NOW.
SO YEAH, THE HIGHEST IN WASHINGTON.
YES.
JUST HOW THESE DATABASES CAN BE USED.
PRIVACY LAWS.
YES, SOMETHING CONSUMERS MIGHT WANT TO BE VERY INTERESTED IN TO KNOW.
>> CAN HAPPEN WITH THAT?
A VOTE, A TRUSTING THOSE CONSUMERS WHO SHOP A LOT.
>> ARE LESS CONCERNED ABOUT IT.
AND THOSE CONSUMERS WHO DON'T.
WELL, IT'S LIKE YOU THAT PUT SOMETHING IN THE GOOGLE AND ALL OF A SUDDEN EVERYONE KNOWS WHAT YOU WANT TO BUY OR WHAT EVERYTHING ABOUT YOU ALREADY BECAUSE YOU SEE THOSE TARGETED >> RIGHT AWAY.
SO IT'S IT'S LIKE WE'VE BEEN LIVING WITH THIS FOR A WHILE ALREADY.
YES, AT STEWART THAT I KNOW YOU'RE FROM MORE KEYNESIAN STIGLITZ SCHOOL OF ECONOMICS.
WHAT ABOUT YOUR REACTION TO YOU KNOW WHAT'S HAPPENING?
THE CITY OF CHICAGO, RAISE AND LIKE THIS NEW PAID SICK LEAVE A MANDATE FOR BUSINESS IN CHICAGO.
A LOT OF PRO BUSINESS GROUPS SAY.
>> CHICAGO'S ECONOMY IS GOING TO SUFFER BECAUSE OF WELL, OBVIOUSLY, TO BE REAL ECONOMISTS, YOU SAY ON THIS HAND AND ON THE OTHER HAND, BUT OBVIOUSLY RAISES IN MINIMUM WAGES, GIVE PEOPLE MORE MONEY TO SPEND AND >> THE PROFITS OF BUSINESSES IN THE U.S. ECONOMY HAVE BEEN GOING UP CONSIDERABLY FOR THE LAST SEVERAL DECADES.
SO >> THIS IS KIND OF A LITTLE REBALANCING TO TAKE MONEY OUT OF THE HANDS OF VERY, VERY WEALTHY PEOPLE AND PUT IT IN THE HANDS OF WORKING PEOPLE.
AND FOR RETAILERS.
YOU WANT WORKING PEOPLE TO HAVE MONEY BECAUSE MIDDLE INCOME AND POOR PEOPLE SPEND MONEY.
RICH PEOPLE SAVE MONEY.
SO IF YOU'RE IN RETAIL, YOU WANT WORKERS AND HOUSEHOLDS TO HAVE MORE INCOME.
AND AS WE LOOK FORWARD TO THE HOLIDAY SEASON, THE REST OF THE YEAR TO MIDDLE INCOME FOLKS HAVE ENOUGH.
DISPOSAL INCOME TO TO GO OUT AND SPEND IT.
>> IF YOU LOOK THE SALES NUMBERS FROM THE PAST FEW DAYS, WOULD SAY JUST THAT, LIKE AS MARTIN HAD MENTIONED, IN SPITE OF SOME OF THE LOOMING UNCERTAINTY, PEOPLE ARE USING THAT AS AN OPPORTUNITY TO SPEND ON GIFTS TO TO CREATE MEMORABLE MOMENTS FOR THE FAMILY.
EVEN AMID UNCERTAINTY.
ALL RIGHT.
WELL, POSITIVES.
>> HOLIDAY SEASON SO FAR.
HOPE YOU ALL HAD A HAPPY THANKSGIVING.
HAPPY CYBER MONDAY AND WE'RE GLAD YOU JOINED WITH US.
MY THANKS AND ALLY AT STEWART AND MARTIN BLOCK.
THANK YOU FOR BEING HERE.
MY PLEASURE.
AND UP NEXT, WHY LOCAL GARDENERS MIGHT BE ABLE TO GROW NEW PLANTS NEXT SPRING.
BUT FIRST WE TAKE A LOOK AT THE WEATHER.
>> GARDENERS MAY START TO SEE SOME UNFAMILIAR PLANS TURN UP AT NURSERIES AND GARDEN CENTERS NEXT SPRING, ACCORDING TO A NEWLY UPDATED PLANT, HARDINESS MAP.
SIGNIFICANT PARTS OF THE COUNTRY, INCLUDING CHICAGO, ARE NOW IN WARMER ZONES.
THE U.S. DEPARTMENT OF AGRICULTURE AND OREGON STATE UNIVERSITY PRISON CLIMATE GROUP RECENTLY RELEASED THIS MAP WDW NEWS REPORTER PATTY, WHAT LEE JOINS US NOW WITH MORE.
PATTY, YOU GOT TO START BY EXPLAINING TO ME, WHAT IS THE HEART IN OWN?
GREAT QUESTION.
IF YOU'RE NOT A GARDENER, WHICH I MEAN, I SORT OF PARALLEL ZONES IN THE EVERY 10 DEGREES.
BASICALLY, IT'S LIKE WHAT PLANTS CAN SURVIVE AT WHAT IS THE LOWEST TEMPERATURE AVERAGE.
>> IN THAT ZONE.
SO COMPLANT SURVIVE.
THEY NEED TO BE ABLE TO SURVIVE LIKE -10 TO -20 DEGREES IN THIS ZONE.
-10 TO 0 DEGREES IN THIS ZONE.
SO IT'S HOW HEARTY DO PLANTS NEED TO BE TO SURVIVE OVER THE WINTER, GIVEN WHATEVER THE LOW TEMPERATURES ARE, THAT SO THERE MIGHT BE SOME NEW PLANTS THAT CAN SURVIVE A IN CHICAGO.
THEN WOULDN'T.
WHAT DOES THIS MEAN FOR?
I MEAN, YEAR, SO OVERALL OF THE COUNTRY, ABOUT HALF THE COUNTRY GOT MOVED INTO A WARMER ZONE ABOUT 2 AND A HALF.
>> AVERAGE DEGREES WARMER ACROSS THE COUNTRY.
IN THE PLAINS, IN THE MIDWEST, WE'RE EXPERIENCE SOME OF THE MOST CHANGE WE CAN NOW ON PAR IN THE CHICAGO AREA OF SOME PARTS OF KENTUCKY OR THINK ABOUT ST. LOUIS.
SO PLANTS THAT WE MIGHT HAVE BEEN HAD TO SURVIVE TO -20 BELOW 0.
NOW THERE'S A NEW SLIVER ALONG THE LAKEFRONT.
IT CAN MEET -5 TO 0 DEGREES.
SO PLANTS DON'T NEED TO BE AS HARDY IN SOME AREAS HERE NOW, HOW CAN GROWERS AND GARDENERS AND JUST FOR THIS FOR YOU KNOW, IT'S THINK ABOUT WHAT ARE YOU SEEING IN IN PEOPLE'S GARDENS IN SOUTHERN ILLINOIS OR NORTHERN KENTUCKY?
YOU CAN KIND OF START TO PUSH THE ENVELOPE.
EXPERTS TOLD US WE MIGHT EVEN WERE UNLIKE ZONE 6, THINK ABOUT OWN 7.
THAT'S WHAT THEY DO AT THE CHICAGO BOTANIC GARDEN.
YOU KNOW, WHAT CAN WE GROW HERE?
THAT PREVIOUSLY THOUGHT, YOU KNOW, WAS A WARMER CLIMATE PLANT.
SO YOU MIGHT WANT TO THINK ABOUT PUSHING THE ENVELOPE, BUT KEEP IN MIND THAT JUST BECAUSE THOSE ARE THE AVERAGE TEMPERATURES, THAT DOESN'T MEAN WE CAN'T STILL HAVE A POLAR VORTEX AND CAN YOU KNOW NOT ANYTHING OUT OF STATE AS GARDENERS AND NOW WE MIGHT KNOW.
GROWING SEASON IS THE SAME AS THE OTHER.
AS WE'RE BEING REMINDED TONIGHT, I KNOW A SINGLE DIGITS.
FROM MOVING ONE OF THE NEGATIVE CONSEQUENCES HERE.
I MEAN, SOME NEGATIVES HAVE TO DO WITH NATIVE PLANTS AND THAT THERE ARE INVASIVE SPECIES THAT WE'VE KIND OF COUNTED ON.
>> CALLED SUPER DEEP FREEZE IS KILLING OFF THEIR SEEDS OR THAT THEY COULDN'T STAND THE CLIMATE HERE.
NOW, IF IT'S GETTING WARMER, THEY MIGHT HAVE BETTER LUCK BECOME EVEN MORE INVASIVE OR PEOPLE WHO WANT TO THINK ABOUT NATIVE PLANTS BEING SOLELY WHAT'S BEEN HISTORICALLY GROWN IN THIS REGION.
WE MIGHT START SEEING PLANTS CREEPING UP A LITTLE BIT.
AND SO THEN ARE THEY NATIVE?
ARE THEY AGGRESSIVE?
WE DON'T KNOW HOW THOSE PLANTS ARE GOING TO START TO BEHAVE.
SO, YOU KNOW, IT'S CLIMATE CHANGE IT'S AFFECTING EVERYTHING.
IT'S VERY UNFAIR TO GARDENERS TO.
ALL RIGHT.
PATTY WHITLEY, I WILL NOTE THAT THE NEXT TIME I DON'T GO PLAN MIGHT NOT EXIST AND ALL AND YOU CAN FULL STORY ON OUR WEBSITE.
IT'S ALL WTW DOT COM SLASH NEWS.
>> AND WE'RE BACK TO WRAP THINGS UP RIGHT AFTER THIS COVERAGE OF SCIENCE AND TECHNOLOGY CHICAGO TONIGHT IS MADE POSSIBLE IN >> BY JOE OF THE HOUSING H FAMILY.
FUN >> THAT'S OUR SHOW FOR THIS MONDAY NIGHT.
DON'T FORGET TO STAY CONNECTED WITH US BY SIGNING UP FOR OUR DAILY BRIEFING AND GET YOU A NIGHT ON FACEBOOK YOUTUBE OUR WEBSITE WTW DOT COM SLASH NEWS.
ALSO GET THE SHOW VIA PODCAST IN THE PBS VIDEO APP AND JOIN US TOMORROW NIGHT AT 5, 30 10.
WE'RE WORKING ON FOR THAT SHOW.
CANDIDATES FOR COUNTY STATE AND CONGRESSIONAL RACES BEGIN FILING PETITIONS TO APPEAR ON THE BALLOT IN MARCH PRIMARIES.
WE TALKED ABOUT TONIGHT, OUR SPOTLIGHT POLITICS TEAM WILL HAVE THE LATEST ON RACES AND MUCH MORE NOW FOR ALL OF US HERE IN CHICAGO TONIGHT.
I'M PARIS SHOTS.
THANKS FOR WATCHING.
STAY HEALTHY AND SAFE AND STAY WARM OUT THERE.
>> CLOSED CAPTIONING IS MADE POSSIBLE BY ROBERT A CLIFF AND CLIFFORD LAW OFFICES, CHICAGO, PERSONAL INJURY AND WRONGFUL DEATH.
THAT IS PRIME TO GIVE
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