Taste of Chicago visitors should have no trouble getting a cell phone signal. Yewon Kang/MEDILL

BY YEWON KANG – MEDILL NEWS SERVICE

Did you ever watch a wireless network company’s TV commercial in which thousands of network carriers were following each cell phone user to boost reception? In reality, it isn’t people, but portable cell trucks, or “cell site on wheels” that help boost cell phone connections at heavy network traffic sites.

A case in point: For this year’s Taste of Chicago in Grant Park, which draws an average of nearly 3.5 million people during its 10-day run every year, Verizon Wireless Services LLC has brought a portable mobile cell truck. The festival runs through July 5.

Each truck, which costs about $500,000, will receive signals that handle 1,000 additional calls, according to Carolyn Schamberger, spokeswoman for Verizon.

“During the July 3 fireworks, we expect to handle twice the number of calls, compared to a typical day,” Schamberger said.

T-Mobile USA Inc. also had a portable cell tower at Grant Park. No spokesman was available for comment.

Joe Ignatius, a Howard University student, who went to Taste of Chicago Friday with his mother, said “the connection was fine” while he was making several phone calls to track down his mother, who was momentarily lost in the crowd.

But not everyone was excited about the fully wired zone. “People are on their phones too much,” said Paul Karger, a retired Chicago native who strolled the Taste of Chicago with his wife. Karger said he only uses his cell phone to call his wife, a flight attendant who often travels abroad.

Major cities in Africa-- such as Dakar, Senegal (pictured above) and Nairobi, Kenya -- are becoming bigger hubs for businesses. (Kate Shellnutt/MEDILL)

BY KATE SHELLNUTT- MEDILL NEWS SERVICE

Africa was called “the dark continent” by 19th century explorers unfamiliar with the vast region, nearly three times the size their European homeland. Although that term seems completely antiquated today, there unfortunately remains a huge shadow over Africa, its development and its economic potential.

From the other side of the Atlantic, we tend to think of Africa pretty simplistically: Safari-esque, politically unstable, “third world.” While these terms describe some areas of Africa, levels of democracy, technology use and urbanization range from having none at all to fully modern cities, equipped with WiFi, in places like Dakar, Senegal.

And as more countries in Africa move along their development paths, their growth offers an opportunity for international investment.

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It is challenging not to let the inertia of a technology-driven consumer culture interfere with your identity offline. (www.passionateblogger.com)

BY KIRAN SOOD - MEDILL NEWS SERVICE

As part of my final post, I wanted to share some thoughts about the identity I have been creating and forming through these posts for the past 10 weeks. It has been exciting to blog about technology in Chicago and the Midwest.

With each blog post, I’ve gotten the chance to shape my identity online, hoping to reach people both in communities similar to mine, and in completely new networks. It’s been a pleasure to reach those of you that I did, through the community we have been striving to create at Medill Money Mavens.

In my final blog post, I challenge you to think about the identity that you create for yourself in the online world, and how that differs from the identity you had hoped to create for yourself.

When you search for your name in Google, is the first person that comes up actually you? How do you balance time spent communicating with loved ones online with time spent communicating with them face to face?

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This week on Money Talks, your chatty hosts Joseph Freeman and Siddhartha Vaidyanathan speak with our seasoned agriculture reporter, Bridget Macdonald. Climate-change legislation has been proposed by the House Energy and Commerce Committee Chairman Henry Waxman, but Illinois agricultural groups are up in arms, saying the bill has the potential to raise input costs rather than reward farmers for carbon mitigating practices.

Bridget explains the issue and also talks about her experiences over the last six months reporting stories related to agriculture in the Midwest. She has interviewed a small farmer in Elburn, Ill., written on the ethanol industry, explored the wonderful world of Maple syrup, and reported on the growing popularity of local food in Chicago. Listen to her talk about the agricultural business in the Midwest and and the wonderful people she met along the way.

 

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Are the shallower declines in GM and Ford sales for May really saying much about the current car-buying climate? (Motor Trend)

BY FELICE BAKER - MEDILL REPORTS

Ford Motor Company announced today that May sales fell by a narrower percentage than analysts expected. In fact, total domestic vehicle sales for the company fell 24.3 percent compared with sales during the same month a year ago, and fell less than analyst’s projections of a 28.5 percent drop for the month.

Ford May sales were also the highest for the company since July 2008. April sales declined 32 percent compared with the same month a year ago.

Emily Kolinski, vice president of sales and marketing at Ford, said in a web conference call, that the sales improvement is a sign that the economy is bottoming out.

We continue to be very encouraged about a second half recovery (for 2009) based on the continued improvements in leading indicators, including the manufacturing [purchasing managers index], consumer confidence, and moderation in new claims for unemployment insurance. These indicators are consistent with an improvement in economic conditions later this year. In that light, it may be tempting to view the May sales results as another proof-point for the emerging economic recovery.

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(Kate Shellnutt/MEDILL)

BY KATE SHELLNUTT - MEDILL NEWS SERVICE

You didn’t have to look at your calendar yesterday to realize it was June 1—the start of moving season, when leases expire and Chicagoans move in and out—you could have just looked out your window.

U-Haul vans and moving trucks, back doors open revealing plastic storage containers and wrought-iron headboards, lined my street in Lincoln Park yesterday. People stacked their stuff on the sidewalk and had friends help mule-team furniture and heavy items. They filled dumpsters with cardboard boxes and packing supplies.

So in celebration of the great moving month, I’ve put together a series of “five tips” lists.

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With the recent mortgage rate hike, those seeking to refinance their homes may not get the bargain they were hoping for. (Seattle Post-Intelligencer)

BY FELICE BAKER - MEDILL REPORTS

The low mortgage rates characterizing the second quarter of 2009 may be history starting this week. According to Bankrate.com,  the average rate on a fixed-rate 30-year mortgage has risen to an average 5.32 percent from 5.00 percent a week ago. The average 30-year rate was 4.75 percent the previous week, according to the Wall Street Journal.

The sharp jump in mortgage rates may cause new home buyers and those looking to refinance to miss out on bargain rates if they have not locked in their rates yet.

An increase in government debt and overall optimism about an economic recovery led to a sharp sell-off in the government bond market, resulting in rising yields that have spilled over into the mortgage market.

The higher mortgage rates are not welcome, especially since Federal Reserve Chairman Ben Bernanke has stated that the Fed intends to keep long-term rates down by printing money and buying Treasury bonds.

However, Christine Benz, analyst at Morningstar Inc., reminds buyers and refinancers that mortgage rates should still be considered historically low.

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This week on Money Talks, your jovial hosts Siddhartha Vaidyanathan and Joseph Freeman speak with our seasoned jobs correspondent, Leslie Patton.  Because of the recession, stories about unemployment have filled the pages and Web sites of news outlets for months.

Leslie’s stories have taken her all over Chicago and into the lives of many of its residents, from limo drivers and stay-at-home dads to teens seeking summer jobs. Listen to her discuss the job market and the inspiring people she interviewed along the way.

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(China has to strengthen its social safety net so that people will become more willing to spend, not save./Xinmin Weekly)

BY MING ZHUANG - MEDILL NEWS SERVICE

With its contribution to global economic output pegged at over 10 percent in 2008, no one could deny that China is a key part of any global recovery, least of all U.S. Treasury Secretary Timothy Geithner, who is headed to Beijing to meet with Chinese President Hu Jintao and Premier Wen Jiabao next week.

During his first trip to China since taking office, Geithner is expected to reiterate U.S. support and gratitude for the government’s giant stimulus package aimed at boosting China’s economy.

But Geithner is also planning to press Beijing to boost its domestic consumption, shifting away from an export-oriented economy.

“We’re going to be flooding the world with debt for a while,” Tim Adams, a former U.S. Treasury undersecretary for international affairs who helped lead the Bush administration’s economic policy with China, said to Bloomberg. “We’ve got to hope that that the Chinese are willing to keep buying.”

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www.ab-invbev.com

BY BRIDGET MACDONALD - MEDILL NEWS SERVICE

Not only does Belgium boast over 450 varieties of beer - each served in a specific glass designed to showcase its flavor - it is home to the largest brewer in the world.

Budweiser calls itself the king of beer, but parent company Anheuser-Busch InBev NV (ABI: 9.30 +0.04 +0.43%), headquartered in the Kingdom of Belgium, reigns supreme.

Brussels-based InBev acquired Anheuser-Busch last July, usurping the title of No. 1 beer maker from rival SABMiller Plc (SAB: 19.05 +0.55 +2.97%) of London. Over the past year, InBev has gained market share in seven of its key markets, including Belgium, Germany, the United Kingdom and the U.S.

In its fiscal fourth quarter, the company reported its profits nearly doubled from the year earlier period, citing the strategic sale of Korean brewer Tsingtao in addition to the lucrative AB acquisition. Profits climbed to $716 million in the quarter from $373 million a year ago.

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