Word: chicago
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...Banned: Fine Food And Fun" [Sept. 4], which referred to Chicago's foie-gras ban as a "loopy law," was disturbingly glib. Foie-gras production is excruciating for geese and ducks, which are force-fed through a tube inserted into their throats. Those that do not prematurely die in the process of being overfed become grossly overweight, and they struggle to walk, stand up, even breathe. It is not Chicago's new law that is outrageous but the inhumane luxury it prohibits...
...mocking Chicago's newly enacted foie-gras ban, your writer insults not only the compassionate individuals who worked to pass this law but also the vast majority of U.S. citizens--nearly 80% of whom, according to a Zogby poll, support an end to foie-gras production. More than a dozen countries and the state of California have passed laws prohibiting this cruel practice. Far from being frivolous, Chicago's law codifies the humane values that we as a society purport to believe...
...jabbering about a weakening housing market has made you glum at the prospect of your own home's losing value, then has the Chicago Mercantile Exchange got a portfolio addition for you. Since May, investors have been able to buy and trade options and futures contracts pegged to home prices in 10 U.S. cities, giving property owners a way to hedge against a bear market--and letting speculators place bets on the direction of house prices in San Francisco, New York City, Chicago, Las Vegas and elsewhere...
There have, however, been a couple of notable nonstarters. The London Futures and Options Exchange halted its property futures in 1991 four months into trading, after a scandal erupted over dummy trades. In 1993 the Chicago Board of Trade, with help from Shiller and Case, readied its own foray but then pulled the plug prelaunch. The nature of houses is an impediment, says Craig Pirrong, professor of finance at the University of Houston, because speculators crave volatility and home prices change slowly--and even within one city, there can be vast differences in values...
...paper’s co-authors agreed. “I entered the group a curious student and I left a capable scientist,” said Brian C. Odom of the University of Chicago. “Sometimes advisers give their students projects which are a waste of time, or they don’t give them enough guidance, but Jerry gives the right projects and the right level of guidance to turn the students into scientists...