-- Connecting the dots between our economy, government and business --
The new series starts 9 p.m. March 6 and continuing for the next seven Thursday evenings on CNN. http://www.chicagotribune.com/entertainment/ct-cnn-chicagoland-documentary-20140222,0,1353440.story
February 21, 2014 By: Mark Glennon* Financial illiteracy, it’s pretty safe to say, is at the root of many of our problems: over-leveraged homeowners, voter ignorance about government fiscal problems, the retirement planning crisis, susceptibility to predatory lending…the list is long. Ted Gonder, a Chicago social entrepreneur, is taking on the challenge at the high school level. A not-for-profit venture that he co-founded, Moneythink, runs financial literacy programs for urban youth. I saw Ted do his thing recently in front of a few hundred kids during a half-day school session before the start of a holiday break. That’s the kind
“If someone spends $1.00 on a lottery ticket, this is where the proceeds end up (says the Illinois Lottery). The biggest chunk of that, 61 cents, would go for prizes … There’d be about 6 cents that goes to selling commissions and selling bonuses for the retailers … 5 % is kind of the ‘other category’ … And that leaves us with about 28 cents for the good causes we support.” http://wuis.org/post/illinois-lottery-shell-game-school-funding
Public unions want their members to cross over to defeat Bruce Rauner, but chances that it will work are low. http://www.dailyherald.com/article/20140221/news/140229682/
At Southern Illinois University, for example, President Glenn Poshard said an increase could cost his institution $3.2 million in additional wages. Similar scenarios are being played out in Normal, Charleston, Macomb and other university communities. http://herald-review.com/business/local/minimum-wage-talk-concerns-university-officials/article_28b87235-f024-5971-b016-703c64720e4f.html
The investigation is part of an increasingly broad review of student lending by state and federal regulators. http://www.chicagotribune.com/business/breaking/sns-rt-us-salliemae-probe-20140220,0,987755.story
Budget season in Illinois kicked into gear this week with Democrats and Republicans trading barbs over the shape of the next budget and how the state should deal with an projected $3 billion deficit due to the looming rollback of an income tax hike. http://www.bondbuyer.com/issues/123_35/illinois-budget-debate-heats-up-1060038-1.html
Meanwhile, no word yet on what will be in his now overdue budget address. http://www3.illinois.gov/PressReleases/ShowPressRelease.cfm?SubjectID=2&RecNum=11963
The economic divides in Atlanta, San Francisco, Washington, New York, Chicago and Los Angeles are significantly greater than in the rest of the country. These cities may struggle in the future to provide adequate public schooling, basic municipal services because of a narrow tax base and “may fail to produce housing and neighborhoods accessible to middle-class workers and families,” the study said. “Many of these cities may inadvertently widen the gap between rich and poor because they have public housing and basic services that make them attractive to low-wage workers.” via Wealth gap is widest in some affluent US cities
For opposing opinion, see here. http://www.suntimes.com/opinions/25444217-474/state-should-approve-ira-bill-help-illinoisans-save.html
The outcome was never in doubt for a project that will change the face of Lincoln Park — with a pair of 21-story, 270-unit residential towers, 60 condominiums, 156 assisted living units, a five-story health club and 100,000 sqaure feet of retail space. via $300M development OK’d for former site of Children’s Hospital – Chicago Sun-Times.
We’re comforted to know our lawmakers are laser focused on crafting tax policy that will generate jobs and opportunity. http://www.nbcchicago.com/blogs/ward-room/Illinois-Lawmaker-Wants-Tax-Breaks-for-Olympic-Medalists-246350441.html
When the story of Northwestern football players trying to unionize, with the assistance of the United Steelworkers, broke in late January, it illustrated a huge disconnect between the big business that has grown up around college football and basketball and the treatment of the young men and women who play those sports at the college level. Part of the problem is the hypocrisy that comes when talented young men and women – who may or may not have an interest in higher education – are forced to attend college if they want to play ball professionally. – See more at:
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