Olympic Loss Forces Chicago to Rethink Economic Plans

A defeated Mayor Daley stepped off the plane from Copenhagen empty handed Saturday, wondering what the next step for Chicago would be. After losing the Olympic bid in the first round, Chicago's hope of an 'Olympic sized' economic stimulation -- an estimated $13.7 billion-- was crushed. Mayor Daley now must rethink his plans for the multitudes of workers and volunteers slated to work on this enormous undertaking. His first step will be to use some of those workers to help rebuild an old hospital on the south side in to a mixed income, mixed used development. One thing is for certain: in the midst of an economic crisis, there is absolutely "no time for sulking."

Source: NPR

By: Grace Heimerl