The final income tax returns on Chicago's failed Olympic bid are in, and what an expensive adventure it was! According to the Tribune, the effort raised $75.9 million while spending $59.4 million, leaving $16.5 million left over. This contradicts other media reports which claim the city spent either $70.6 million (Crain's) or $72.8 million (Sun-Times) on the bid with a leftover chunk of change around $6.8 million. But either way, that's a hefty chunk of cash. more ›

With Chicago's Olympic hopes dashed, the local organization that dared us to Imagine Letting Friendship Shine will begin to close up shop. Chicago 2016 is expected to lay off nearly 60 members of its support staff, retaining a skeleton crew as it winds down operations by year's end. All of the brain power and dreamers, many collecting six-figure salaries from the organization, will go back to their corporate jobs or on to other lucrative jobs. What's left of Chicago 2016 will be dissolved, and its remaining finances will be donated to World Sport Chicago, who's mission is to "uphold and advance the Olympic ideals in every day life through active participation in Olympic and Paralympic sports" by bringing sports opportunities to Chicago youth. more ›

The Obama administration has gone into spin control in regards to Obama's trip to Copenhagen to support Chicago 2016's failed Olympic bid and is using the classic, "Well, they told us it'd be fine" method. A report in this morning's Tribune reveals behind-the-scenes details describing the way in which the Chicago 2016 bid committee persuaded Obama to make his much-talked-about whirlwind trip to Copenhagen on behalf of the city's bid. Worried that the heated health care bill would head to the floor of either the House or Senate for debate with him in Europe, Obama was still hesitant to make the trip until a few days before he took off. more ›