Monday, October 21, 2019

Connecting the dots between our economy, government and people —

Top Illinois Stories

Local pension investment consolidation is sensible but risky – Our monthly Crain’s article

Wirepoints' Mark Glennon: The biggest risk of the new plan is that it might pave the way for full consolidation of local pensions, with the state assuming liability. That would eliminate the key benefit of municipal bankruptcy, which is the power to adjust pensions, and authorization of municipal bankruptcy is probably inevitable.

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Commentary: Dennis Byrne witnessed the genesis of the Illinois Exodus. Now he’s joining it: ‘Fed up. I’m gone.’ – Chicago Tribune

There are as many reasons for leaving as there are people fleeing, the weather not being the least of them. But little is to be done about Chicago’s weather. Unlike how the city and state have been ravaged. By the greedy, incompetent and power-hungry. By the boodlers, gonifs and crooks who fancy themselves as the feudal lords and we their vassals. By public employee unions that have turned the idea of “public service” into a joke on the taxpayers, who, in fact, have become the public servants. By voters whose party loyalties, ideologies and self-serving have made Chicago not just a national laughingstock, but a dangerous place.

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More Highlighted Illinois Stories

Source: Feds Sought Info On House Speaker Michael Madigan In City Club Raid – WBEZ

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Adding Momentum to the Death Spiral – Points & Figures

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Editorial: Corruption watch: With tax grabs and lavish new spending, Illinois lawmakers invite scandals – Chicago Tribune

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Illinois is shrinking as taxes drive a mass exodus – St. Louis Post-Dispatch

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Exelon’s Legal Troubles Jolt Stock – Yahoo Finance

The company is part of a federal investigation targeting potential illegal dealings with Illinois state lawmakers in Springfield. The company’s stock dropped to a year-to-date low Thursday after the latest news in the ongoing legal saga.

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Source: Feds Focus On Clout Hires At ComEd, Leader Of Chicago’s City Club – WBEZ

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Feds looking at ComEd hiring politically connected lobbyists in exchange for favorable actions, consultant payments – Chicago Tribune

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Sen. Martin Sandoval’s daughter took in more than $52,000 during failed County Board bid from people and companies later named in federal corruption probe – Chicago Tribune

A Chicago Tribune review of the campaign fund created for Angie Sandoval’s unsuccessful Cook County Board candidacy shows that more than a dozen of her donors — individuals and companies — were named in federal search warrants executed in September at Sen. Sandoval’s Capitol office and the village halls in west suburban McCook and Lyons. Both towns are in Sandoval’s Senate district.

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llinois law makes teacher strikes easiest in Chicago out of 10 largest U.S. school districts – IL Policy

Teacher strikes are illegal in 8 of the top 10 largest school districts in the nation. Maybe that’s why the Chicago Teachers Union is on strike for the third time in seven years.

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Why Does Local Police And Fire Pension Consolidation Matter For Illinois? – Forbes

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George Will: No Will on Pension Reform – BuryPensions

"[T]he nation’s most ominous governance problem is the unsustainable trajectory of the entitlement state because of the unfunded promises that have been made regarding pensions and medical care. Everyone understands what must be done: a mixture of increases of taxes and reductions of promised benefits. Everyone also knows that there is insufficient political will for either part of this remedy."

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Editorial: Coal will live on, but we must embrace other energy sources – The Southern

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Survey Finds Sharp Divides On Whether Immigrants Help or Hurt Illinois – NPR IL

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Red-light camera backlash gains bipartisan momentum in Springfield – IL Policy

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Appeals panel: IL constitution doesn’t force cities to keep paying retiree health insurance, even if benefit paid to current workers – Cook County Record

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Report finds education funding overhaul effective, calls for increased state investment – Capitol News IL

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Illinois’ Congressional delegation warns tech companies: ‘moderate content or we will’ – Center Square

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Wealth adviser says moving out of Illinois could protect portfolios from next recession – Center Square

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Study finds higher teacher pay, smaller classrooms, more support staff, hindered by legacy costs – Center Square

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Pension fund managers seek $480k to hire lobbyists to kill pension consolidation plan – WCIA

Comment: Ridiculous waste of taxpayer money on self-serving. The local pension boards are simply trying to retain their gigs and boondoggles, instead of making the system more efficient.

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Is Consolidating the Assets of Illinois’ Public Pension Funds A Good Idea? – Amand Kass

Comment: Finally, she got one right.

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On the State of Illinois – New Geography

A DePaul economist: Although there is a perception by some that the state of Illinois is in decline, the reality might not be quite so bad, at least at the moment.

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Hey, Siri: What’s a class action? Apple targeted under IL biometrics law for Siri ‘voiceprints’ – Cook County Record

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Survey Finds Sharp Divides On Whether Immigrants Help or Hurt Illinois – NPR IL

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Report finds more jobs in Illinois than job seekers – Center Square

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Pension crisis forces firehouse closure, 9 firefighter layoffs in East St. Louis – IL Policy

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Peoria leaders to discuss raising taxes for public safety pensions – CIPround

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Jim Dey | Plan to pool police, fire pensions has shades of over-promising, under-delivering – News-Gazette

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Ralph Martire: A refreshingly unpolitical proposal on pensions – State Journal-Register

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Illinois House Republicans, Democrats unite to condemn Trump yanking troops from Syria – Chicago Sun-Times

In rare bipartisanship, Illinois Republicans and Democrats united on Wednesday to oppose President Donald Trump’s removal of troops from Syria, clearing the way for Turkish forces to attack Kurds who had been allied with the U.S.

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Top Chicago Stories

Classes Canceled for Monday, a 3rd Day Amid Chicago Teacher Strike – A.P.

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Democratic socialists on front lines of teachers strike aim to ‘put the pressure on Mayor Lightfoot – Chicago Sun-Times

Members of the Chicago chapter of the Democratic Socialists of America met Sunday morning to coordinate efforts to assist the Chicago teachers and school support staff whose concurrent strikes are likely to stretch into a second week.

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No choice but to raise property taxes if Springfield doesn’t help, Lightfoot says – Chicago Sun-Times

“It’ll be very difficult to avoid a property tax increase if we do not get help from Springfield. … There are limited tools that a mayor can use to generate substantial revenue. Property tax is really chief among them,” the mayor told the Sun-Times.

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Lightfoot moves to hike Chicago restaurant taxes – Crain’s

A few hours after unveiling a $40 million tax on rides from Uber, Lyft and other ride-sharing firms, Lightfoot’s office confirmed that she’ll also seek a $20 million new tax on restaurants. The quarter-percentage-point levy would apply to all food and beverages sold at retail establishments. Combined with levies by other governments including Cook County and the Metropolitan Pier & Exposition Authority, the tax on restaurant bills would rise to as much as 11.75 percent.

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Cook County Pension Unfunded Liabilities Increased $3.8 Billion in Last Decade – Civic Federation

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We Can Support Our Teachers and Still Call B.S. On This Chicago Strike – EducationPost

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Chicago teachers strike highlights America’s top 3 economic threats – CNBC

"We need to get something more than glorified daycare for that $694 billion we spend on education every year. Perhaps this strike in Chicago will get more of us thinking of a better alternative."

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Mayor Lori Lightfoot proposes tripling ride-share tax on solo rides in or out of downtown Chicago – Chicago Tribune

Ride-share trips in Chicago currently are assessed a flat 72 cents per ride in taxes and fees. Under Lightfoot’s plan, that would drop to 65 cents for shared trips and increase to $1.25 for single riders.

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More Highlighted Chicago Stories

Biden Calls Attention To Chicago Teachers’ Strike At New York Teacher Union Day Address – CBS

Biden spoke about teachers’ strikes and called them courageous, and he specifically brought up the strike by members of the Chicago Teachers’ Union that began this past Thursday.

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Chicago Would Have Most Expensive Uber, Lyft Rides In The Country If Lightfoot’s Congestion Tax Adopted, Rideshare Companies Say – Block Club Chicago

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Lightfoot expands payroll during hiring freeze – Crain’s

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Why are Chicago teachers striking against Mayor Lori Lightfoot? They’ve been “lied to” before – Salon

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Teachers Strike in Chicago Getting Personal as Mayor Says ‘There’s No More Money. Period.’ – PJ Media

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Chicago Strike Means Day Off for Some, Emergency for Others – A.P.

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Solidarity? Teachers offered better deal than Chicago cops, police union says – Chicago Sun-Times

An online post by the Fraternal Order of Police notes that cops have been without a contract for far longer than teachers and have been offered smaller raises.

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Landlords get socked as Kaegi reassesses north suburban properties – Crain’s

After being reassessed, commercial and industrial properties now represent 44 percent of the $24.6 billion in total assessed value in north suburban Cook County, up from 34 percent last year. Residential real estate accounts for 56 percent, down from 66 percent in 2018.

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Striking teachers say paychecks are the least of their problems – Chicago Reader

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Chicago Teachers Union leader on city lawyer strike comments: ‘Rich white men tell black women … in CPS what to do all the time’ – Chicago Tribune

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Chicago property tax relief approved for spouses of fallen emergency workers – Curbed Chicago

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‘Many’ to be charged in clout-heavy Chicago bank’s failure after massive fraud – Chicago Sun-Times

Many customers of the failed bank, Washington Federal Bank for Savings, had connections to the Daley family and the 11th Ward Regular Democratic Organization, run by Cook County Commissioner John Daley and his nephew, Ald. Patrick Daley Thompson.

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Chicago Public Schools’ billion-dollar dispute: Where should the extra state funding go? – ABC Chicago

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2 Cook County commissioners each collect over $100K from Chicago Teachers Union – IL Policy

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Chicago Teachers’ Strike Shows Why We Don’t Need Public Schools – Foundation for Economic Education

Without government involvement and compulsion, civil society steps up and quickly mobilizes to care for children and families.

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Chicago Teachers Union leader on city lawyer strike comments: ‘Rich white men tell black women … in CPS what to do all the time’ – Chicago Tribune

A CPS lawyer sent a note asking union leaders to spend more time in negotiations and less at rallies prompted got an angry response from the union vice president.
“Rich white men tell black women with children in the Chicago Public Schools what to do all the time," Vice President Stacy Davis Gates said.
She also complained attributed her misspelled name to racism and sexism:
“My name is misspelled. So pay attention to what’s being said here," Davis Gates told the Tribune. “... His name is spelled right. There’s something to this. The city has a legacy, a culture, of putting black women in the position where life is harder, where they have to be silenced, to take the backseat, and this is an element of it.”

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Right to Work Legal: Chicago Teachers Have ‘Right to Rebuff’ Union Demands – Breitbart

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Sign Hacked To Say ‘Kill Cops’ Near Memorial For Slain Chicago Police Officers – Block Club Chicago

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Chicago Teachers’ Strike: Progress In Negotiations, But Mayor ‘Would Be Very Surprised’ If Classes Resume Monday – CBS Chicago

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Wirepoints: CTU strike creates ‘a negative spiral’ that hurts teachers, police and fire departments – Chicago City Wire

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Wirepoints: Illinois labor laws prioritize teachers unions over students – Chicago City Wire

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CTU, CPS enter weekend with no contract in place after ‘encouraging’ Friday – WGN

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The Chicago teacher who crossed a picket line: ‘I wanted to be with my students’ – Chicago Tribune

"Wonder why CPS is losing students by the thousands? This is why."

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Chicago Heights Helps Zarlengo’s Open New Manufacturing Plant – Patch

This is the only good news in Illinois we have to report today (and we are plugging a nice family that went to high school with Wirepoints' Mark Glennon).

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John Kass: The Chicago teachers strike and property taxpayers and the road to serfdom – Chicago Tribune

The property taxpayers, who are the serfs of the new Democratic machine. Because we serfs live to serve the masters, don’t we? Powerful public workers unions are the spine of this new machine. And Democratic politicians rely on votes from public unions to get elected.

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Chicago’s teacher aides live ‘off crumbs.’ Their strike with teachers has closed school – USA Today

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Chicago City Council’s Progressive Caucus Tax proposals would set us back over 100 years, financial expert says – Chicago City Wire

  “All seats at the table might be equal if they had their way, but the table would be empty, and so would most of the seats.”  

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Shoplifting soars as prosecutors back off – CWB Chicago

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Chicago Teachers Strike 2019: Live Updates – WBEZ

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Chicago Teachers Union Vice President: “there’s not going to be school on Friday” but “happily we’ve finally got some class size language in writing” – WGN

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Wirepoints Commentary and Research

The CTU’s Broader Agenda And The Circumvention Of Democratic Process

What they cannot accomplish legislatively or at the ballot box they seek to implement by holding students hostage.

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Here’s A Comprehensive Solution For All Chicago School Financial Problems And The Teacher Strike

Do what Michigan did for Detroit schools. It's called "reconstitution" and it's a regular process in the private sector, often called "oldco/newco."

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“Ordinary Chicagoans can’t afford either Lightfoot’s proposal or the CTU’s demands.” – Ted on the Illinois Channel

Ted appeared on the Illinois Channel TV to talk about the Chicago teachers strike. He told Illinoisans what they need to know: that all Chicagoans will lose no matter how the strike is resolved, that taxes will continue to go up, that property values will continue to stagnate, and that people will continue to leave the city.

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The Chicago Teachers Union strike is on: 13 things that matter

Chicago teachers are striking for the third time in seven years. Here are 13 reasons why the strike spells trouble for Chicago. Point one? The simple fact is that Chicagoans can’t afford either the CTU’s demands or Lightfoot’s offer.

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“It’s the politicians who give in, who benefit and who work with the CTU hand in hand” – Ted Dabrowski on with John Kass

Ted was on The Chicago Way with John Kass talking about the Chicago teachers contract fight and what it means for ordinary Chicagoans. Chicago politicians are to blame for the Chicago Teachers Union's militancy. When the CTU leadership throws a tantrum, politicians don't stand firm. Instead, they appease and enable the union.

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Illinois strike laws prioritize Chicago Teachers Union over children

What gives the Chicago Teachers Union the power to strike – or threaten to strike – every time they don’t like a new contract proposal? One of the answers lies in the state’s collective bargaining rules. They are among the most anti-taxpayer labor laws in the country.

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More Wirepoints Original Stories

“The public should be worried that consolidation will deflate pressure for real pension reforms. Politicians are going to act as if they’ve really done something – and they haven’t.” – Ted Dabrowski on WTAD

This week on WTAD, Ted talked all about the release of Gov. J.B. Pritzker's state economic development plan and his pension consolidation task force's recommendations. He said "if you can make 1-2 percent more on your investments, you should do it. But don't call it a monumental action. It doesn't fix the pension problem, it doesn't get rid of all those 650 pension funds. It doesn't free cities from overbearing state control."

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Consolidation of Illinois police and fire pensions: a good idea with limited impact and many risks

A Gov. J.B. Pritzker task force has recommended that the state’s 650 local public safety pension funds consolidate their assets into two funds solely for investment purposes. It’s a good idea. But will it be “a momentous achievement in state history?” Hardly.

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Supporters of Illinois’ Green New Deal Bill Resort to Pedophastry (and Learn That New Word)

The renewables industry knows who to use.

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Illinois’ shrinking tax base: State is a national outlier when it comes to losing wealthy residents (Part 4)

Though Illinois’ wealthy make up a relatively small share of the people lost to out-migration, they’re responsible for the largest share of income lost to other states. Illinois suffered a net $4.87 billion loss in AGI in 2016. More than 50 percent of that came from losing people who made $200,000 or more. 

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Sham Solution to High Property Taxes Peddled by Cook County Assessor Kaegi and Others

Few things are as easy to debunk than the claim that the Fair Tax would materially reduce property taxes.

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COGFA monthly report: Illinois personal and corporate income tax receipts up, sales tax flat – Quicktake

The report also includes discussion of Illinois' comparatively low consumer debt level.

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Here is the list of benefits Mayor Lightfoot is offering to the teachers’ union and why it’s terrible for Chicagoans

If you were holding out for Chicago Mayor Lori Lightfoot to finally show her fiscal reform credentials, give up now. The new labor contract she’s offered to the Chicago Teachers’ Union will bring the district and the city another step closer to bankruptcy.

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Connecting the dots between our economy, government and people —

We’re a 501(c)(3) now!

Wirepoints Original Stories

The CTU’s Broader Agenda And The Circumvention Of Democratic Process

What they cannot accomplish legislatively or at the ballot box they seek to implement by holding students hostage.

Leave a Reply

Your email address will not be published.

Here’s A Comprehensive Solution For All Chicago School Financial Problems And The Teacher Strike

Do what Michigan did for Detroit schools. It's called "reconstitution" and it's a regular process in the private sector, often called "oldco/newco."

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Your email address will not be published.

“Ordinary Chicagoans can’t afford either Lightfoot’s proposal or the CTU’s demands.” – Ted on the Illinois Channel

Ted appeared on the Illinois Channel TV to talk about the Chicago teachers strike. He told Illinoisans what they need to know: that all Chicagoans will lose no matter how the strike is resolved, that taxes will continue to go up, that property values will continue to stagnate, and that people will continue to leave the city.

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Top Illinois Stories

Local pension investment consolidation is sensible but risky – Our monthly Crain’s article

Wirepoints' Mark Glennon: The biggest risk of the new plan is that it might pave the way for full consolidation of local pensions, with the state assuming liability. That would eliminate the key benefit of municipal bankruptcy, which is the power to adjust pensions, and authorization of municipal bankruptcy is probably inevitable.

Leave a Reply

Your email address will not be published.

Commentary: Dennis Byrne witnessed the genesis of the Illinois Exodus. Now he’s joining it: ‘Fed up. I’m gone.’ – Chicago Tribune

There are as many reasons for leaving as there are people fleeing, the weather not being the least of them. But little is to be done about Chicago’s weather. Unlike how the city and state have been ravaged. By the greedy, incompetent and power-hungry. By the boodlers, gonifs and crooks who fancy themselves as the feudal lords and we their vassals. By public employee unions that have turned the idea of “public service” into a joke on the taxpayers, who, in fact, have become the public servants. By voters whose party loyalties, ideologies and self-serving have made Chicago not just a national laughingstock, but a dangerous place.

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Other Illinois News

Source: Feds Sought Info On House Speaker Michael Madigan In City Club Raid – WBEZ

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Adding Momentum to the Death Spiral – Points & Figures

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Editorial: Corruption watch: With tax grabs and lavish new spending, Illinois lawmakers invite scandals – Chicago Tribune

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Illinois is shrinking as taxes drive a mass exodus – St. Louis Post-Dispatch

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Exelon’s Legal Troubles Jolt Stock – Yahoo Finance

The company is part of a federal investigation targeting potential illegal dealings with Illinois state lawmakers in Springfield. The company’s stock dropped to a year-to-date low Thursday after the latest news in the ongoing legal saga.

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Top Chicago Stories

Classes Canceled for Monday, a 3rd Day Amid Chicago Teacher Strike – A.P.

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Democratic socialists on front lines of teachers strike aim to ‘put the pressure on Mayor Lightfoot – Chicago Sun-Times

Members of the Chicago chapter of the Democratic Socialists of America met Sunday morning to coordinate efforts to assist the Chicago teachers and school support staff whose concurrent strikes are likely to stretch into a second week.

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No choice but to raise property taxes if Springfield doesn’t help, Lightfoot says – Chicago Sun-Times

“It’ll be very difficult to avoid a property tax increase if we do not get help from Springfield. … There are limited tools that a mayor can use to generate substantial revenue. Property tax is really chief among them,” the mayor told the Sun-Times.

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Lightfoot moves to hike Chicago restaurant taxes – Crain’s

A few hours after unveiling a $40 million tax on rides from Uber, Lyft and other ride-sharing firms, Lightfoot’s office confirmed that she’ll also seek a $20 million new tax on restaurants. The quarter-percentage-point levy would apply to all food and beverages sold at retail establishments. Combined with levies by other governments including Cook County and the Metropolitan Pier & Exposition Authority, the tax on restaurant bills would rise to as much as 11.75 percent.

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Cook County Pension Unfunded Liabilities Increased $3.8 Billion in Last Decade – Civic Federation

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We Can Support Our Teachers and Still Call B.S. On This Chicago Strike – EducationPost

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Chicago teachers strike highlights America’s top 3 economic threats – CNBC

"We need to get something more than glorified daycare for that $694 billion we spend on education every year. Perhaps this strike in Chicago will get more of us thinking of a better alternative."

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Mayor Lori Lightfoot proposes tripling ride-share tax on solo rides in or out of downtown Chicago – Chicago Tribune

Ride-share trips in Chicago currently are assessed a flat 72 cents per ride in taxes and fees. Under Lightfoot’s plan, that would drop to 65 cents for shared trips and increase to $1.25 for single riders.

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Other Chicago News

Biden Calls Attention To Chicago Teachers’ Strike At New York Teacher Union Day Address – CBS

Biden spoke about teachers’ strikes and called them courageous, and he specifically brought up the strike by members of the Chicago Teachers’ Union that began this past Thursday.

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Chicago Would Have Most Expensive Uber, Lyft Rides In The Country If Lightfoot’s Congestion Tax Adopted, Rideshare Companies Say – Block Club Chicago

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Lightfoot expands payroll during hiring freeze – Crain’s

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Why are Chicago teachers striking against Mayor Lori Lightfoot? They’ve been “lied to” before – Salon

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Teachers Strike in Chicago Getting Personal as Mayor Says ‘There’s No More Money. Period.’ – PJ Media

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