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It’s unclear what Related Midwest plans to do with the parcel, but Crain’s quoted one expert guessing that a less-ambitious project, perhaps one involving multiple buildings, makes sense.
Schock has more than $3 million in the various funds he controls, from his actual campaign account to his political action committees. http://www.sj-r.com/article/20150318/NEWS/150319484/10511/NEWS?rssfeed=true
Politicians, who are looking for more revenue to pay mounting bills, pension obligations and budget shortfalls, want a massive expansion of casino gambling. This time, Illinois residents will be targeted to gamble and lose their money. http://chicago.suntimes.com/politics/7/71/445482/counterpoint-gaming-expansion-take-money-illinois-residents
Legislation in the Illinois House to increase the minimum wage at a slower rate than the Senate proposes has received committee approval. Rep. Art Turner’s measure would increase the wage from $8.25 to $9 beginning in July. http://www.myfoxchicago.com/story/28556629/minimum-wage-bill
The Federal Office of Personnel Management rejected a request to see pension information as “a clear unwarranted invasion of personal privacy.” Comment: Surprised Illinois never tried that one. via ADAM ANDRZEJEWSKI: Unearth the secrets of federal pensions – Washington Times.
http://www.chicagobusiness.com/article/20150318/NEWS04/150319755/yellow-cab-files-bankruptcy-after-26-million-verdict
Mitchell I. Serota, Ph.D., Fellow, Society of Actuaries The Attorney General, though her Solicitor General, needs a more potent argument to convince the Illinois Supreme Court that pension legislation enacted in December 2013, which prospectively reduces defined benefit plan accrual rates for State employees, is constitutional. After last year’s judgment that even post-retirement medical benefits cannot be reduced once promised, the Supreme Court has indicated that the attempt at pension reform is not likely to pass Illinois Constitutional muster. Even though the pension legislation appears to be on the verge of being struck down, the Solicitor General is
Univ. of Chicago leads the list. http://www.huffingtonpost.com/reboot-illinois/four-best-business-school_b_6879150.html
Travelers bound for Chicago on business can expect to pay about $369 per day for hotel, car and food, making it one of the 10 most expensive U.S. cities, according to a new study. http://www.chicagotribune.com/business/ct-business-travel-cost-0319-biz-20150318-story.html
http://www.bondbuyer.com/news/regionalnews/chicagos-gamble-on-disclosure-1071437-1.html Chicago took a gamble by voluntarily laying out in stark terms the fiscal threats that could lead to further credit erosion and the impact on its swap and liquidity contracts, market participants said.
A new Illinois tourism campaign is a dreamy, at times wonderfully romantic affair marked by ad copy that is thoughtful and clearly designed to touch the soul more than to tickle the funny bone. http://www.bizjournals.com/chicago/news/2015/03/17/illinois-tourism-advertising-takes-a-surprising.html
Lawmakers are balking at a possible fix for the state’s ailing budget because it would cut spending to Illinois school districts. http://qctimes.com/news/state-and-regional/illinois/illinois-lawmakers-balk-at-education-cuts/article_4c8f8e21-3d9a-5070-89fa-236d2eddb3ef.html
From the head of the new group, Illinoisans for Growth and Opportunity: “There are a bunch of Democrats who are fed up with the way things are going. We have a state that’s been run by Democrats for a long time. They put us in this mess.” via New Democratic business group will spend $20 million on Springfield’s budget war – Blogs On Politics – Crain’s Chicago Business.
State pension seem to be really good at sniffing out the winners from the losers among companies headquartered in their own state. There’s a happy hypothesis for this as well as a sinister one.
Madigan, Cullerton bonuses among largest in the nation
http://www.worldbusinesschicago.com/news/chicago-named-top-metro-new-and-expanding-companies?utm_source=WBC Newsletter&utm_campaign=32aee2973d-March_2015_Newsletter3_16_2015&utm_medium=email&utm_term=0_bc9af49a97-32aee2973d-209970913
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