A few days ago, we mentioned a new deal struck by four local television stations that would enable them to share raw footage of non-exclusive events, i.e., sending one camera and mic to a press conference rather than four. Many have speculated - including our commenters - that this was simply a move to set the stage for cuts. And they were all right. In the wake of CBS 2's cuts last week comes word that both Fox 32 and NBC 5 are making cuts and alterations to local television schedules. a href="http://newsblogs.chicagotribune.com/towerticker/2009/05/wmaqtv-to-eliminate-local-sundaymorning-news-add-the-talk.html">According to the Trib's Phil Rosenthal, NBC 5's vice president and station manager Frank Whittaker said via a statement, "In this tough business climate, we must redirect our energies and resources to areas of highest impact and growth." Meanwhile, a Fox 32 source described the cuts to the Sun-Times Lewis Lazare as a "bloodbath." more ›

With a new transit doomsday prophecy, the area's transit systems are trying to figure out exactly how they'll manage to find the funding to stay running. At a CTA board meeting yesterday, chief financial officer Dennis Anosike revealed the alarming news that the CTA's budget deficit was at $87 million, much larger than had previously been thought. When added to the ginormous shortfall in tax revenue the RTA already outlined this week, the CTA now finds itself over $240 million in the red. Well, shit. And with everyone out of cash and looking for more, the infighting has begun as the CTA and RTA clashed over where the money would come from and who knew what when. more ›

As the busiest travel day of the year - Wednesday - approaches, Chicagoans look like they're going to be blessed by two things: good weather and lower gas prices. While Chicago has had the highest average gas price in the nation the last few years, the nation's gas price drop has reached us. So low, in fact, that some stations have regular unleaded actually below the current national average of $1.98. The lower prices come as the price of a barrel of oil has dropped from $147 a barrel in July to under $50 a barrel currently, as close to a silver lining as you'll find in the current economic crisis. Though this paragraph from the AP story certainly got our attention: "Some 'peak oil' adherents view the theory as an incentive to work harder on alternative energy. Others claim it's too late for that, and forecast an apocalyptic future in which industrial society and the global marketplace give way to local micro-economies with backyard farms, abandoned malls and marauding hordes." Um...Happy Holidays, everyone! more ›