One guy “retired” from the police force at age 54 with a $104,129 pension that will accumulate to about $4,035,726 in estimated lifetime payments, then “was rehired as the Naperville police chief and draws an additional salary of about $155,000 per year. He is drawing from taxpayers about $259,000 a year…..while he builds a second taxpayer funded pension!” http://www.taxpayersunitedofamerica.org/news-releases/836-dupage-county-government-teacher-pensions-in-the-top-6-6-national-income-level

Hinsdale issues scab call in preparation for teacher strike.

http://www.chicagoreader.com/chicago/rahms-balanced-budget-claims-dont-add-up/Content?oid=15162657

Rahm: “We’ve balanced three budgets in a row holding the line on property, sales and gas taxes….” Comment: Nonsense. 1) ) unfunded liabilities in city pensions continue to skyrocket, which are not reflected in the budget, 2) real property tax rates have soared, as reflected in that recent Civic Committee report we wrote about here, and 3) see The Reader article adjacent to this for more details about the phony budget. via Emanuel rules out raising property, sales and gas taxes | Early & Often.

http://www.chicagotribune.com/bluesky/originals/chi-greg-brown-motorola-economic-club-bsi-story.html?utm_content=buffer6b0d9&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer Comment: He’s right. Multinational companies have moral and legal duties to shareholders, customers and vendors all over the world.

“Chicago’s latest bond documents lay out for investors in stark terms the risks posed by its steep credit deterioration and hazards should it slip further.” via Chicago Warns Investors on Impact of Battered Credit – The Bond Buyer.

Home prices were still up in Chicago for July but price gains have been declining now for a while – in fact this is the lowest gain in 18 months at 4.0% for single family homes. via Case Shiller: Chicago Home Price Gains Losing Steam – Getting Real.

Your tax dollars at work. http://www3.illinois.gov/PressReleases/ShowPressRelease.cfm?SubjectID=2&RecNum=12670

For the first time since at least 1970, Chicago Public Schools will serve fewer than 400,000 students. http://www.wbez.org/news/3000-fewer-students-enroll-chicago-public-schools-110869

Instead of raising Chicago cab fares that rank No. 32 among big cities, Emanuel wants to create a centralized dispatch system using a “universal taxi smartphone application” akin to ride-sharing. http://politics.suntimes.com/article/chicago/city-plan-bolsters-cabdriver-income-— without-raising-fares/tue-09302014-1007am#bmb=1

“A new fellowship program at the University of Chicago will help develop leaders at local nonprofits and government agencies, training them to manage projects efficiently while helping move U of C further beyond the ivory tower. as the university continued to revamp its historically aloof relationship with neighborhood groups.”   http://www.chicagobusiness.com/article/20140930/NEWS13/140929792

Chicago mayor asked the city’s sister agencies to pay all contractor and subcontractor employees a minimum wage of $13 an hour. http://www.ksdk.com/story/news/local/illinois/2014/09/30/chicago-mayor-rahm-emanuel-tells-city-agencies-to-up-minimum-wage/16476291/

Institute for Supply Management released its Chicago Producers Manufacturing Index, or PMI. The Chicago Business Barometer for the month of September fell to 60.5, which came in lower than the Bloomberg consensus estimate of 62.0. http://247wallst.com/economy/2014/09/30/chicago-pmi-signals-slower-business-activity/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed: typepad/RyNm (24/7 Wall St.)