Welcome To Chicago!

Lightning strikes the Sears Tower in Chicago yesterday during severe weather. The Second Life Community Convention is taking place in the “Windy City” this weekend. (Image from MyFOXChicago.com)

Damages that occurred during last night’s storms in Chicago total over 1.5 Million dollars, and more storms are on the way.

Flights in and out of Chicago were canceled yesterday as severe storms hit O’Hare International Airport. The control Tower was evacuated for a short time. As of right now, delays in to O’Hare average 1 hour and 6 minutes. Midway airport is averaging 15 minute delays arriving.

More heavy rains are expected tonight.

For more, please click on the links below:
Click Here for LIVE MyFOXChicago Power Doppler.
Click Here for more on the Thursday storms.
Click Here for more on tonight’s possible storms.

BREAKING NEWS: Ginko Financial Converts Everyone’s Cash To Bonds

As reported yesterday, rumor was spreading that Ginko Financial was going to convert all deposits into Ginko Perpetual Bonds. At 10:20 PM last night, this was confirmed by the bank, via an announcement on their website.”we have concluded that the only way forward from this is to convert, compulsorily, all customer deposits into a tradeable debt security called Ginko Perpetual Bonds.” - Official Ginko Announcement.

However, by the looks of it, Ginko has not closed permanently. “Ginko Financial will bounce back from this” gives them the oppourtunity to re-open when they feel the time is right.

Current Banking Situation

A sign at the ATM in the Ginko sim explains the current situation with your money.

“For those of you who wish to withdraw your funds, you may wait in the queue, or cash out to Ginko Perpetual Bonds, which is currently the only option if you don’t wish to wait the seemingly indefinate period of time it could take to refill the reserves” - Ginko Notice

First off, let me start by taking care of the rumor that Ginko has closed and is converting your money into bonds. As of press time, this is a RUMOR and HAS NOT been confirmed nor denied by any source in Ginko. When asked about this rumor, Ginko President Nicholas Portocarrero said “No comment”. Unfortunately, some media outlets have rushed to report this as fact.

Ginko bank investors currently have the choice to either:

• Wait in a queue to obtain your money. This could take an “indefinite” amount of time.
• Convert your current cash into Ginko Perpetual Bonds at the current market price. This is “the only option if you don’t wish to wait the seemingly indefinite period of time it could take to refill the reserves”.

The Second Life Times will continue to cover this story.