First the good news: The city deferred action on its latest proposal for licensing concert promoters, originally set for tomorrow’s City Council meeting.

Some people have been naive enough to call it a victory, but don’t be fooled. The delay doesn’t protect all the small promoters and club owners and not-for-profits who want to throw fund-raising bashes. It’s merely what one alderman calls a “tactical retreat” on the part of the mayor.

Here’s the deal from several good City Hall sources, including an alderman or two.

The vendor’s licensing bill (commonly known as the promoter’s ordinance) has been resurrected because Mayor Daley wants it, and no one in City Hall has the guts to tell the mayor he can’t have what he wants.