Government dysfunction dampens Illinois job growth – Herald-Whig –

An IMA VP also addressed a coming shortage of manufacturing workers: About half of the state’s manufacturing workforce, an estimated 300,000 workers, will retire in the next 15 years. Denzler said it will be a struggle to find skilled job applicants to fill those vacancies. “What the statistics show is that we’ll need 25,000 production workers and 4,000 to 5,000 engineers per year just to replace what we have now.”

Read More »

Investors Pull Cash From Hedge Funds as Returns Lag Market – WSJ

Marc Levine, chairman of the $16 billion Illinois State Board of Investment, had a provocative question this month during a board meeting about hedge funds. “Why do I need you?” Mr. Levine asked. A lot of big investors are asking the same question. Comment: Well done, Levine. He’s brought sanity and efficiency into state investments.

Read More »

Onward Towards the Abyss: Chicago’s Pension Decision – WP Original

  By: Mark Glennon*   It only gets worse. Last week’s Illinois Supreme Court decision was no surprise, but the real news was about reaction to it, or, more specifically, non-reaction. Chicago remains cracked up on denial. The numbers are insurmountable without radical reforms, almost certainly including bankruptcy.   The decision itself: The primary holding was widely expected. The court had earlier made clear that cuts in pension benefits are unconstitutional. The invalidated reform law would have cut benefits paid by two of the city’s four pensions. Pursing a such a futile case was just another chapter in the playbook

Read More »

New Illinois state agency brings benefits to other departments – WREX

Some Illinois government agencies are now part of Gov. Rauner’s new Department of Innovation and Technology. The governor announced the formation of the department recently in an effort to reduce redundant agencies in the state. Part of the formation of the department was to consolidate all of the IT services to the state into the centralized agency.

Read More »