Lollapalooza has become an annual three day mecca of music during the summer, It draws throngs of young and not-so-young people to Chicago's Grant Park for music and revelry.

The name stems from the Greek words 'lollagopolus', meaning 'to stand close to' and 'paloozaklava' meaning 'one with facial hair'. With these words fused together has become the byword since 1936 when one of the homeless hobos of the Depression era, it was said, found a potato in a trash bin in the park and broke into song.

Nowadays, the hobos have been replaced by concert event organizers using the annual congregation as a means to bring their music to the public. Also included in the festivities are many businesses, both small and large, who emblazon their signs everywhere as corporate sponsors of this supposedly free event.

The event though is one of the most anticipated events in the city. It is a three day show, starting Friday and ends Sunday, The organizers of the event, Parkways Foundation, which is the non-profit fundraising firm of the Chicago Park districtto raise a projected US$2.2 million. Overall, the event is expected to generate about US$85 million for the local service economy of hotels, restaurants and clubs.