‘Let us play!’: Illinois prep players rally in Chicago – Associated Press
September 19, 2020
No Comments
-- Connecting the dots between our economy, government and business --
Disservice to Teachers Evident in Chicago Union’s Tweet – RealClear Education
September 19, 2020
2 Comments
However, any Chicago teacher who was outraged by the tweet and wishes to leave the union over CTU’s misplaced priorities will likely hit a brick wall. Teachers who want to end their $1,140 in annual dues payments are only allowed to end their payments during a specified opt out window.
City Hall signals COVID could upend $8.5B O’Hare redo – Crain’s*
September 19, 2020
1 Comment
Documents the city filed as part of a pending deal to refinance $1.24 billion in O’Hare debt indicate city officials now are “assessing timing” on the Terminal Area Project, and the current 2028 completion date is “subject to change.”
U.S. Attorney: Lawmakers free to pursue Madigan probe – Capitol News IL
September 19, 2020
No Comments
Moratorium on utility shutoffs winding down – Center Square
September 19, 2020
No Comments
On Friday, Pritzker abruptly ended a news conference in Macomb after people in the crowd began chanting “No utility shutoffs.”
Students rally in Loop asking Pritzker to bring back fall sports – ABC Chicago
September 19, 2020
No Comments
Pandemic’s Toll on Public Pension Plans – RealClear Politics
September 19, 2020
1 Comment
“When the recession eases, states and local governments will be under pressure to improve funding of their pension systems. It can be done when there’s a political will to do it. Wisconsin, just north of Illinois, the nation’s perennial pension problem child, has a fully funded state retirement system. In fact, it’s the only state that’s over-funded, with 103% of what it needs to provide benefits for every present and future retiree.”
Chicago suburbs warn ComEd: It’s time to pay up on local utility taxes – Chicago Tribune*
September 19, 2020
No Comments
About 50 leaders from roughly 80 suburban communities who feel shorted by ComEd decided to speak up as the utility giant is on the defensive. The mayors sent a letter this month to ComEd CEO Joseph Dominguez calling on the electricity provider to “promptly pay.”
They estimate millions of dollars are owed in overdue in uncollected utility taxes. The mayors say it’s often because ComEd failed to match up the addresses of residences and businesses using power and then pass
Vista Tower had all the makings of success. Then things got complicated. – Crain’s*
September 19, 2020
2 Comments
The 93-story tower is now nearing completion on East Wacker in Chicago. But its hotel partner bailed. A plan to sell to Chinese buyers failed. The downtown market tanked. A major design flaw was revealed. Then came pandemic and civil unrest.
‘The E Stands For Equity’: How 2 New City Plans Seek To Tackle Racial And Economic Segregation – WBEZ
September 19, 2020
No Comments
Chicago Teachers reduces assumed rate of return – Pensions & Investments
September 19, 2020
2 Comments
Chicago Public School Teachers’ Pension & Retirement Fund is lowering its assumed rate of return to 6.75%. The $11.1 billion pension fund’s board voted Thursday to lower the rate of return from 7%.
Opinion: Illinois’ beleaguered housing market faces a new threat from Pritzker’s progressive tax – Crain’s*
September 19, 2020
No Comments
Economist Orphe Divounguy: “If the tax passes Nov. 3, Illinois homeowners could see close to a 20 percent decline in housing appreciation during the next decade. But it’s still not just homeowners who would suffer. When homeowners are less wealthy, they spend less. That means less business revenue, less new investment and fewer new jobs. The entire economy suffers.”
Public Health System Seeks Increased Tax Support from Cook County – Civic Federation
September 19, 2020
No Comments
Thousands of Chicago hotel workers worried about losing health insurance during pandemic – Chicago Sun-Times*
September 19, 2020
1 Comment
Nearly 7,000 Chicago hotel workers who remain laid off due to the pandemic are at risk of losing their health insurance at the end of the month.
Ex-Daley operative Victor Reyes once again in the midst of a big political storm – Chicago Sun-Times*
September 19, 2020
No Comments
Unlike Burke and Sandoval, Reyes hasn’t been charged with any crime. But he or one of his firms has come onto the radar of federal authorities in two of the cases they’re investigating, records show. And he has ties to others who have come under scrutiny as federal investigators plow their way across the political landscape in the city and suburbs.
Letter: Graduated income tax for Illinois threatens small business owners like me – Chicago Sun-Times*
September 19, 2020
No Comments
“My name is Chris Plywacz and I am the proud owner of Reeg Plumbing, a small business in the western suburbs…. This amendment will give a big foot to Springfield politicians to step on small businesses like mine and diminish opportunities for us to create jobs or even expand our businesses…. Many of my customers have left this state because of our taxes…. After years of tax hikes, people fleeing the state and trying to weather a pandemic, Illinois is on the brink of collapse. I can’t think of a worse time to raise taxes.”
This big-time private-equity player is heading west as it grows – Crain’s*
September 19, 2020
2 Comments
Thoma partially faults Illinois for the drift west, criticizing Gov. J.B. Pritzker’s policies as not good for business and noting the hundreds of millions of dollars in taxes the firm has generated for the state. Thoma also laments Chicago’s recent upheaval, which included looting downtown. “I am worried about Chicago,” he says.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER