-- Connecting the dots between our economy, government and business --
A Florida real estate company has declined to participate in a $400 million loan to the hedge fund that runs the cash-strapped retailer Sears Holdings. http://dealbook.nytimes.com/2014/09/25/sears-already-struggling-loses-a-key-lender/?_php=true&_type=blogs&_r=0
By: Mark Glennon* In private, few Illinoisans of any ideology would disagree that House Speaker Michael Madigan is at the core of most everything rotten in Illinois. Yet voters and the press forget that the Speaker is elected anew by House members after their own elections, which are coming again in November. Will you vote to re-elect Michael Madigan as Speaker of the House? That question may seem partisan and pointless but it’s not. It’s the first question every House candidate should be asked. Yes or no. True, all Republicans will answer ‘no’ — House members vote
http://www.chicagomag.com/Chicago-Magazine/Felsenthal-Files/September-2014/What-His-Years-at-Dartmouth-Reveal-About-Bruce-Rauner/
The scope of the impact on pensions is unclear, “but here’s the bottom line: pretty much every other sphere of actuarial work outside of public pensions and state-run insurance, etc., there is substantial oversight because it’s understood any of these systems can fail. Except for public pensions.” Comment: We sparked what has become a bit of a national bruhaha with our earlier story on this. via STUMP » Articles » Public Pension Watch: How Important is the Mortality Assumption? And Other Assumptions? » 21 September 2014, 17:52.
http://abc7chicago.com/sports/wrigley-field-$575m-renovation-set-to-begin/323525/
http://politics.suntimes.com/article/springfield/illinois-worst-midwest-state-black-men-find-work/wed-09242014-1220pm
Each of Chicago’s pensions beat their expected returns in 2013 yet their total debt grew by $800 million. Chicago pension debt grows despite high market returns
http://www.civicfed.org/iifs/blog/illinois-fund-kidney-transplants-undocumented-residents
In recent years, Illinois has poured billions into roads, through the state capital construction program and the Illinois Tollway capital program. http://stlouis.cbslocal.com/2014/09/24/report-illinois-highway-system-sees-improvements-after-giving-billions-to-roads-bridges/
Nearly five dozen IDOT employees have been given a temporary reprieve from layoff because of a court agreement by Gov. Pat Quinn’s administration amid a hiring scandal.
Fueled by a neck-and-neck contest for governor, Illinois has seen a roughly 30 percent increase in the number of TV ads and the money spent to air them this election cycle compared to four years ago. http://nwherald.com/2014/09/24/illinois-4th-highest-in-u-s-for-campaign-spending-on-political-tv-ads/aqtrlco/
“I don’t think anybody knows yet what it is that Exelon may be requesting from the state government related to nuclear plants. Until we know that, it’s difficult to move on other Energy Policy,” said Don Harmon, a senator from Oak Park. http://www.forbes.com/sites/jeffmcmahon/2014/09/24/how-exelon-nuclear-shut-down-one-states-energy-policy/
City officials say O’Hare International Airport has overtaken Atlanta’s Hartsfield-Jackson Memorial Airport in the battle for world’s busiest airport in the total operations category. That hasn’t happened since 2004. http://politics.suntimes.com/article/chicago/ohare-regains-part-worlds-busiest-airport-title/wed-09242014-821am
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