-- Connecting the dots between our economy, government and business --
Dr. Patrick Soon-Shiong, the Los Angeles billionaire battling for control of Chicago Tribune owner Tronc, is pressuring the company’s board to allow him to buy more stock now that Chairman Michael Ferro has been allowed to up his stake.
Comment: Madness. It’s a vindictive shot at private equity and venture capital that some on the left despise. Fixing the “carried interest” issue that allows some of them to escape reasonable taxation has to be done at the federal level, or they will leave.
By: Mark Glennon* Billions are harder to fathom than thousands. Former Illinois Comptroller Leslie Munger had a good way to illustrate Illinois’ financial status: Just take off six zeroes. For Illinois, keep in mind that each thousand below actually a billion. And for some perspective, one thousand seconds is less than three hours. One billion seconds is over 31 years. For those of you not following the budget crisis closely, imagine you own some kind of service business (services are most of what the state provides). Here’s the situation: You’re bringing in about $32,000 per
Chicago is finally rising in the rankings of the 20 metro areas tracked by the Case Shiller home price indices. Forever we have been ranked 4th from the bottom (17th place) in terms of year over year home price appreciation but for January we rose to number 13 on the list.
Emanuel’s administration “did not appropriately account” for more than $4.5 million in fees collected from developers to build affordable housing, but is refusing to replenish the fund, the city’s inspector general concluded Tuesday.
S&P said the latest bill is likely to receive enough votes to overturn a subsequent veto based on strong bipartisan support for the original measure. But it noted that Chicago must still come up with additional money for pensions in 2023 when larger contributions will be needed.
Speaker Michael Madigan wrote the Republican a letter Tuesday. It said Rauner made “false statements” a day earlier that Madigan was blocking sale of the state-owned Thompson Center in Chicago.
Catchy. Just heard it. Should be revised for Chicago.
President and chief executive officer of Hoist Liftruck Manufacturing Inc., Flaska estimated the move to East Chicago, Ind., just across the border from Chicago, has saved the company $3 million to $4 million in operating costs.
The move is the latest in a long line of Illinois-based companies relocating to Kenosha County, or establishing operations there. On Thursday, the Rosemont, Ill.-based subsidiary of German gummy bear maker Haribo announced plans for a 500,000-square-foot facility in Pleasant Prairie that will bring up to 400 jobs.
Twain might not recognize Cairo today.
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