“If it doesn’t find a way to plug the holes in its fiscal ship, Chicago could well face the same fate as Puerto Rico and Detroit the next time a recession causes its tax base to contract.” Comment: Too late for that, and a recession would only accelerate it.
The law, known as the Illinois Freedom to Work Act, will go into effect on Jan. 1 and will effectively prohibit the use of non-competes for employees who earn $13 an hour or less. Under the Illinois Freedom to Work Act, it any non-compete agreement in place with an employee of this nature will be considered illegal and void.
By: Mark Glennon* The monthly report is now out for September from Illinois’ Commission on Government Forecasting and Accountability. It shows monthly and year to date revenue collection by the state compared to last year. Not good. Revenues continue to decline. For the fiscal year to date (which started July 1), total base revenue is down $145 million. That’s a 2.1% decline from the same period last year. According to the report, “both personal and corporate income taxes have disappointed. At least sales tax receipts have grown, albeit at fairly weak levels.” Sales tax receipts have
The Cook County ordinance will apply to private sector employees throughout the county except where a home rule municipality has enacted its own law, which so far is only Chicago. The Cook County ordinance will apply to private sector employees throughout the county except where a home rule municipality has enacted its own law, which so far is only Chicago. Just what employers want — another unfunded mandate.
“This is the largest single criminal health care fraud case ever brought against individuals by the Department of Justice.”
“Many said that Puerto Rican government officials had encouraged them to buy one-way tickets to Chicago, promising drug treatment, housing, and jobs when they arrived. But when they landed at the airport, no one was waiting for them. Many ended up living on the streets.”
If teachers walk off the job next week, Chicago Public Schools will leave all its buildings open for students and has promised breakfast and lunch for anyone who shows up. That’s what the district shared in contingency plans preparing for a possible teachers strike on Tuesday.
Altering the pension cuts, the judges said, would be a “drastic action” that “would unavoidably unravel the entire plan, likely force the city back into emergency oversight and require a wholesale recreation of the vast and complex web of negotiated settlements and agreements.” Comment: This ruling from the Sixth Circuit Federal Appeals Court basically marks the end to court challenges to the Detroit bankruptcy plan and its pension cuts.
A close look at the negative equity problem. Chicago area has a far higher portion of homes underwater than the rest of the nation. The problem is concentrated in less affluent zip codes with some as high as 50%.
McDonald’s is super-sizing its future Chicago headquarters, where it now plans to occupy almost 500,000 square feet when it moves from Oak Brook in 2018.
The Civic Committee of the Commercial Club, a big business group that says it has had it with a state government that now is into its second year without enacting a full budget. It’s launching an ad campaign called “LOL Illinois.” “Not having a budget is not a laughing matter. Springfield has stopped listening to Illinois citizens. We must make enough noise that they won’t have a choice but to hear us.”
The city of Chicago has the constitutional authority to require developers of new condo and apartment buildings to designate a portion of the project as “affordable housing,” a federal judge has said – and developers should enter into a new project understanding the rule could apply to them, despite efforts to avoid it. Comment: Bummer. The affordable housing ordinance is a huge burden on developers and gets almost zero results in affordability.
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