It’s unclear just how serious the mayor was being when he spoke at the event about the future of transportation. But even if Emanuel had his tongue in his cheek, taxi drivers and medallion owners may not see the funny side.
Chicago Public Schools officials have issued a call for new charter schools amid a $215 million budget hole and a cap on new charter expansion.
Whoa, even the lefty Huffington Post let this be said.
A bill to help salvage two city worker pension funds now heads to the governor, who has vowed not to sign it without pension reform. It provides for taxpayers and government employees putting more money into retirement systems that cover laborers and municipal workers. The Illinois House passed the bill in December. But Gov. Bruce Rauner won’t support the bill without pension reform. Comment: Good for Rauner, but the scary part here is that Sen. Radogno is apparently negotiating on behalf of GOP against Dem Cullerton. Radogno has never understood pensions. Cullerton does, and he’s a union tool. He will
A Wicker Park elementary parent called out the Chicago Teachers Union over the weekend on a national stage, claiming the union stopped parents who volunteered to staff their children’s school library after its librarian was laid off.
This story is being updated regularly.
Comment: Remember as you read this that you’re helping pay this guy’s salary and pension — a philosophy professor at a public university promoting a financial transactions tax and sharing other economic wisdom.
Illinois lawmakers have one of the sweetest retirement deals on planet earth. It’s supposed to be a ‘part-time’ job in the general assembly, but now taxpayer funded legislator pension costs exceed most base salaries. Last year, taxpayers paid a whopping $71,818 per legislator ($15.8 million in FY2015) to fund their ‘golden parachute’ retirement plans.
Both the House and Senate are in session this week for the-lame duck session, with the odds of either side coming together to approve a budget looking slim. Even if the Senate adopts a budget plan — something that looked possible Monday — there’s no time to push it to the House and on to Gov. Bruce Rauner for his signature.
The $20 million was set aside to inoculate the mayor and aldermen from at least some of the blame for a record $588 million property tax increase for police and fire pensions and school construction. Comment: The rebate was fake policy — it was designed to fail and a political stunt.
Downtown office landlords continued to distance themselves from the depths of the recession at the end of 2016, with the vacancy rate dropping to its lowest level in nearly 16 years. Now those building owners will find out if the rally has legs in 2017, as they brace for the impact of several new towers under construction or recently completed.
“Chicago’s position at the bottom of the ranking is no surprise to anyone who follows municipal finance. The Windy City has become a poster child for financial mismanagement, having suffered a series of ratings downgrades in recent years. Aside from having thin reserves and large volumes of outstanding debt, Chicago is notorious for its underfunded pension plans.”
The conference took place in the shadow of the 1,400-foot Trump International Hotel and Tower, with its giant embossed letters glistening above the Chicago River: TRUMP. Chicago’s single-digit temperatures meant anxious discussions took place among economists quite literally shivering in black or gray overcoats.
Comment: The $5.3 billion deficit number cited here and many other stories is pure crap. The true deficit is roughly three times that. We’ll be writing more about this shortly.
Right-to-Work will now be guaranteed by law across every Illinois border except Missouri’s. In recent years Indiana (2012), Michigan (2013), Wisconsin (2015) and now Kentucky have passed Right-to-Work laws. And the Show Me State likely will soon follow suit and enact its own Right-to-Work legislation.
“We have an opportunity for you to win some money—$500 to be exact. If you are able to come up with a creative way to approach this negative perception, be it a video series, blog post, photo, or something else (and better) entirely… Keep in mind that the audience is a high school student and his/her family.”
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By Todd Maisch, president and CEO of the Illinois Chamber of Commerce.
Rahm Emanuel is pitching Wall Street investors on the latest city borrowing plan, a $1.2 billion package that, like previous versions, pushes hundreds of millions of dollars of debt into the future at higher costs to taxpayers.

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