-- Connecting the dots between our economy, government and business --
About 100 people blocked the entrance of Chicago’s largest hedge fund, Citadel, at Dearborn and Adams, protesting the ongoing budget stalemate.
University of Illinois officials aren’t taking the assault on campus free speech as seriously as their duties require. Is it now open season on campus for hecklers to decide who will and will not be allowed to speak? Shouting down speakers, however briefly it’s done, is and ought to be an anathema, particularly on a university campus. Initially, it seemed as if students unaware of their responsibilities as citizens were the problem. But perhaps the problem goes deeper — or higher — than that.
“Gall: Brazen boldness coupled with impudent assurance and insolence.” – Merriam-Webster Dictionary By: Mark Glennon* IMRF, the Illinois Municipal Retirement Fund, went on a “statewide informational tour” last week. It was basically a brag fest. Illinois taxpayers should be appalled. IMRF is the second largest pension fund in the state. It covers 100,000 employees and retirees of 3,000 Illinois municipalities who are not policemen, firefighters and those covered by state pensions. Among its boasts is that it will be reducing contributions made by municipal employers from 11.73% of payroll to 11.34%. Also, it’s “well funded,” in its words —
Gov. Bruce Rauner on Monday accused Illinois lawmakers of holding schools hostage by demanding an immediate school funding formula change — suggesting they should continue to work on a “grand compromise” budget first, with reforms that he’ll support.
Rauner and House GOP leader Jim Durkin said Monday rank-and-file legislators are finding agreement on issues such as property tax relief and changing workers’ compensation insurance to reduce costs for businesses.
The bill would kick the can on required pension contributions by Chicago taxpayers.
April saw nearly half the large layoffs March brought, and showed few major layoffs in the manufacturing sector.
Audio of the interview linked here. The article discussed in the interview is linked here.
The group’s plan calls for raising $23 billion annually in new state revenue. Comment: Wacko. For a little perspective, hat would be about 5X the annual revenue raised by the the temporary income tax increase we had.
Those who live in “affluent” neighborhoods—especially those located near a good high school—would pay an extra $100 million in property taxes to help avoid school cuts in poorer areas under a plan being pitched by the Chicago Teachers Union.
WirePoints readers have seen that quantified for Illinois pensions frequently.
While significant parts of a $278 million project to redevelop the state’s most-visited tourist destination are done, the $115 million in taxpayer funding the pier used on phase one of the overhaul didn’t stretch as far as expected.
Facebook workers routinely suppressed news stories of interest to conservative readers from the social network’s influential “trending” news section. The intolerant left at work.
Nuclear plants lose out on the subsidies paid to solar and wind firms in 30 states, including Illinois, under the state-based renewable portfolio standards.
Sen. Matt Murphy from the suburbs is teeing off on Mayor Rahm Emanuel’s request for a Chicago Public Schools bailout, suggesting there are 100 more schools that are “adult employment centers” that could be shuttered to save money.
$55 million in Tax Increment Funding (TIF) went towards the new Marriot Marquis hotel near the DePaul arena site in the South Loop.
Emanuel’s office said 500 people have been hired for manufacturing jobs with wages averaging more than $70,000 a year.
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