LIVE session coverage...
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
We’ll take whatever we can get

Monday, Feb 3, 2014

* A tad bit of good news

Illinois’s borrowing costs have fallen to the lowest level in six months as investors join Governor Pat Quinn in wagering that a law bolstering the worst-funded state pension system has “stopped the bleeding.”

The extra yield demanded on 10-year Illinois debt relative to AAA munis reached 1.43 percentage points on Jan. 30, the least since July 18, as the state prepares a $1 billion general-obligation bond sale this week, according to data compiled by Bloomberg. The fifth most-populous state already spared taxpayers more than $20 million on an offering in December, less than two weeks after legislators passed a pension bill that saves $145 billion over 30 years. […]

Illinois “is perceived as being on the right trajectory,” said Konstantine “Dino” Mallas, who helps oversee $20 billion of munis at T. Rowe Price Group Inc. in Baltimore. “I wouldn’t say they’re out of the woods, but maybe they’ve stopped digging themselves into a deeper hole.”

* And we’re not even in the top ten?

According to a new report at Business Insider, Illinois is the 16th most corrupt state in the U.S. The ranking system looked at number of people convicted of public corruption, per population.

By this metric, Louisiana is the nation’s most corrupt state, with over nine public convictions per 100,000 residents. The states with the fewest conviction rates were South Carolina, Oregon, Washington, New Hampshire, Minnesota and Utah. Each of these had 1.3 convictions or fewer per 100,000.

…Adding… I think Greg Hinz is really on to something, at least as far as the corporate recruiting world is concerned

The good folks at the Indiana Economic Development Corp. have had lots of fun at Illinois’ expense in the past couple of years, running a ton of ads here and other places about how Indiana is a far better place to locate a business than Illinois.

But now, the boys and girls from the Land of Lincoln think the Hoosiers have given them something to fight back with.

In the Indiana Senate, after clearing the state House earlier in the week, is a bill that would insert a ban on same-sex marriage in the Indiana Constitution. While the measure, at least as now written, would leave the door open to civil unions and would have to be approved by voters, it’s exactly the opposite direction that many states are headed in now, including Illinois, where gay marriage becomes legal on June 1.

Passage of the bill would be “a negative sign to business,” said Doug Whitley, CEO of the Illinois Chamber of Commerce. “That’s a mistake for the Indiana Legislature to take that path.”

Allowing same-sex couples to wed and related matters “are a determinant of where you want to live and work,” he added.

The same point comes from Adam Pollet, director of the Illinois Department of Commerce and Economic Opportunity: “Illinois is open for business. We want all the business here, and all of the people in those businesses,” he told me.

- Posted by Rich Miller        


8 Comments
  1. - Anonymous - Monday, Feb 3, 14 @ 11:34 am:

    See what happens when the Supreme Court Rules on the Pension law.


  2. - Ahoy! - Monday, Feb 3, 14 @ 11:40 am:

    “Come to Indiana, we’re still in the 20th Century.”


  3. - Formerly Known As... - Monday, Feb 3, 14 @ 11:43 am:

    Good news on both fronts.

    The article on borrowing costs, however, neglects to clarify that Illinois’ spread to 10Y MMD is 3 times that of any other state.

    In other words, Illinois’ borrowing costs are 3 times that of any other state.

    While this represents progress, we still have a mighty long way to go.


  4. - From the 'Dale to HP - Monday, Feb 3, 14 @ 11:51 am:

    On the same sort of note… I don’t understand why Illinois doesn’t hammer on and on and on about Indiana’s sub-par infrastructure.


  5. - oz - Monday, Feb 3, 14 @ 11:53 am:

    with regard to bond sales.

    correlation =/= causation

    the global markets and blowing up with the threat of the free money fed qe though being taken away. so there’s a flight to bonds. there’s nothing here to give illiois politicians credit for.

    with regard to corruption.

    yep, if the state is so corrupt that you can’t get a conviction and then use the number of convictions as your metric then you can come in at number 16..

    and as far as illinois business and job creation propaganda goes.

    i challenge everyone to pull up the bls.gov economy at a glance data for illinois.

    take a look at the back data of the labor force under the employment category and you will find that we have less people employed in this state today then we did way back in apr 1997 sixteen years ago.

    yeah, this… after year after year of hearing illinois is creating much needed jobs using these tax break tools for the corporate elite

    sixteen years my friends. where did all the new entrants to the illinois workforce go over the last 16 years. where did all the college grads go over the last 16 years.


  6. - Grandson of Man - Monday, Feb 3, 14 @ 12:10 pm:

    I think there is an information lag between the good news the state has received lately and the public’s perception of the state’s direction. In the gubernatorial race, it’s Quinn’s mammoth job to convince voters that the state is moving in the right direction–provided that it continues to do so.

    “Indiana’s sub-par infrastructure”

    Last week or so, after we had a big snowfall, I heard the mayor of Hammond, Indiana praise our state on the radio, saying that we can afford to clean our roads. He said that Indiana is lacking the tax revenue to adequately do this, and workers have to work seven days a week.

    Yes, we have problems, but I’m grateful I don’t live in a right to work state that has been trying to pass transvaginal ultrasound bills and anti-SSM legislation.


  7. - Anyone Remember - Monday, Feb 3, 14 @ 1:49 pm:

    I’ve asked before, and I’ll ask again - when will the largest corporations (many headquartered in the former Confederacy) start to lose employees over the local bans on gay marriage? How big an issue does this become in corporate recruiting? Corporate relocation? Does this give Allstate (Chicagoland) a leg up over Bank of America (Charlotte, NC), Coca Cola (Atlanta, GA) and ExxonMobil (Dallas, TX)?


  8. - Upon Further Review - Monday, Feb 3, 14 @ 3:43 pm:

    @1:49

    That is ridiculous.


Sorry, comments for this post are now closed.


* When "fundamentally wrong" becomes "greater flexibility"
* Ounce joins budget coalition
* Nuding urges thumbs down on one-month budget
* *** LIVE *** Overtime session coverage
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Good morning!
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Xperia Z3+ rubs shoulders with Galaxy S6, iPhone 6 in DxOMark
        * Samsung trademark filing appears to confirm Galaxy S6 Edge+ name
        * Smart Android Launcher Yahoo Aviate Gets Overhauled, Accused Of Being A “Google Now Clone”
        * Save 41% on the world’s smallest quadcopter [DEALS]
        * YouTube's Android, iOS apps now stream buttery-smooth 60 frames per second videos
        * Google apologizes after Photos app automatically tags black people as “gorillas”
        * Developer for malware app settles out of court with FTC, New Jersey

        * Know When It's Too Hot to Walk Your Dog With the Five-Second Rule
        * You Can Now Take Selfies In The White House
        * Evernote Web Clipper Extension Now Saves Gmail Attachments
        * Remove Leaves Below the Water Line to Keep Cut Flowers Happy
        * Surface Hub Pre-Orders Go Live
        * Facebook Updates Logo, Blink And You’ll Miss It
        * Uli Emanuele Completes The World’s Craziest Base Jump (Video)

        * Chris Sale making strikeout history, and on pace for more
        * Flowers sends Sox past Cards on Sale's night
        * Flowers helps Sox continue extra-inning magic
        * Sale away: Ace's road show ties Pedro
        * White Sox 2, Cardinals 1 (11 innings): Battery cools down Cards
        * Quintana matches up with Lackey in St. Louis
        * Record Sale: 8th straight 10-K effort ties mark

        ...............


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        July 2015
        June 2015
        May 2015
        April 2015
        March 2015
        February 2015
        January 2015
        December 2014
        November 2014
        October 2014
        September 2014
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * 1-month budget on way from Illinois Democrats -.....
        * Rauner borrows from special state funds to mana.....
        * Rauner borrows from special state funds to mana.....
        * Rauner borrows from special funds to manage cas.....
        * Rauner borrows from special state funds to mana.....
        * Rauner borrows from special state funds to mana.....
        * Rauner borrows from special state funds to mana.....
        * Rauner budget chief: Dems' spending plan 'uncon.....
        * Rauner borrows $454M from special state funds t.....
        * Rauner borrows $454M from special state funds t.....


        * Rauner borrows from special state funds to manage cash flow
        * Central Illinois man withdraws permit application for zoo
        * Rauner budget chief: Dems' spending plan 'unconstitutional'
        * 10,000 toilet paper rolls stolen from Illinois charity
        * Charleston appoints new mayor after Mayor Rennels' death
        * Chicago schools make pension payment; 1,400 jobs 'impacted'
        * Cullerton pitches property tax freeze, school funding fix
        * Democrats propose 1-month budget; Rauner ready to nix it
        * Endangered Mexican gray wolves born at suburban Chicago zoo
        * Madigan: Chicago schools to make full pension payment

        * State lawmakers enter new fiscal year preparing to vote on temporary 'essential services' budget
        * Illinois State Museum to remain open into August pending review
        * U.S. Supreme Court takes up dispute over union 'fair share' fees
        * Democrats to propose 1-month state budget for essential services
        * Democrats to propose 1-month budget for essential services
        * Rauner: Shutdown worth pain if it brings change
        * Supreme Court takes up dispute over union 'fair share' fees
        * House set to hear state shutdown details
        * Admissions ban at Hope Institute reinstated after report of injury
        * Indoor, outdoor smoking ban on college campuses to go into effect

        * Rauner aide: Dems' one-month spending plan 'unconstitutional'
        * 'Ding Dong, the Ex-Im Bank is dead!'
        * Meet the Chicago lawyer who represented bikers before it was cool
        * Meet the Chicago lawyer who represented cyclists before it was cool
        * Price of CPS pension payment: 1,400 jobs, more debt


          * Preckwinkle to move fast on sales tax hike
          * Chicago communities brace for expected violence during July 4 weekend
          * MasterCard says its cards can't be used to pay for adult ads on Backpage.com
          * Fare card fraud costing CTA $6.5 million
          * Butler choir to sing with Rolling Stones at Indy Speedway
          * Emails show top officials aware of Hillary Clinton's private address
          * Chicago makes massive teachers pension fund payment, mayor warns of cuts
          * What Deadheads need to know for the Grateful Dead's Soldier Field shows
          * Amid backlash, Mount Prospect halts plans to hire noncitizens as police
          * Man, 62, killed in South Side crash


          * Supreme Court rules all states must license and recognize same-sex marriages
          * Preckwinkle may reevaluate sales tax plan if Springfield acts on pensions
          * Democratic lawmaker 'mad as hell' over Rauner's veto of state budget
          * At eleventh hour, CPS makes huge pension payment
          * Contract talks break down between Chicago teachers and city
          * Southwest Side residents work toward racial healing
          * Supreme Court rules Obamacare subsidies are legal
          * Gov. Rauner vetoes Illinois budget, cites $4 billion deficit
          * As budget deadline approaches, Illinois faces a government shutdown
          * Closing time for Chicago's trading pits


          * Our Opinion: Rauner correct to OK school payments
          * Michael Gerson: Religious and gay rights must coexist
          * State lawmakers enter new fiscal year preparing to vote on temporary 'essential services' budget
          * Illinois State Museum to remain open into August pending review
          * U.S. Supreme Court takes up dispute over union 'fair share' fees
          * Democrats to propose 1-month state budget for essential services
          * Rauner: Shutdown worth pain if it brings change
          * House set to hear state shutdown details
          * Admissions ban at Hope Institute reinstated after report of injury
          * Indoor, outdoor smoking ban on college campuses to go into effect


          * Best of Illini: No. 39, Ke'Shawn Vaughn
          * Best of teams: No. 39, Pitt
          * Connect Transit union protests at meeting
          * Second Minonk twin dies of brain tumor
          * Urbana Fire Chief Brian Nightlinger 7/1/2015
          * NPR host: Income inequality undermines democracy
          * Gas prices should hold steady heading into holiday weekend
          * Area history, July 1, 2015
          * Man seeks release 5 years after child's death
          * 'Fair share' in high court


          * Kraft shareholders approve sale of company to Heinz
          * Indiana woman seeks visitation with daughter after prison
          * US construction up 0.8 percent in May, pushing total spending to highest level in 6 years
          * The Latest: Greek Orthodox church leader urges calm
          * Greece appears to cave to demands, but Europe skeptical

          * Local Book Notes: The Unforgettable Patients Of The Cook County ICU
          * 'Moral Monday' Marchers Head To Citadel Building
          * The [Wednesday] Papers
          * Cullerton Introduces New Property Tax Freeze Bill
          * Illinois College Declares Haymarket Riot Reference a Threat to College President
          * Underestimated: Our Not So Peaceful Nuclear Future
          * Protester Holds Sign Against Rauner's Proposed State Budget Cuts
          * Obama Administration Proposes Changes To Overtime Regulations
          * CPS pension bill paid for with the the lives of teachers and students. In debt by design.
          * 'Moral Monday' March Against Proposed State Budget Cuts


          * State Supporting Flood Fights in Several Communities - Continuing Support to Coal City, Sublette Following Tornadoes
          * Illinois Department of Human Rights Announces Civil Penalties in Sexual Orientation Discrimination Complaint - Human Rights Commission Orders $30,000 from Fair Housing Violator
          * Vermilion County Court Imposes Penalty On Petroleum Company
          * Fireworks Pose Safety Hazard
          * “When Thunder Roars, Go Indoors” is Focus of Lightning Safety Awareness Week June 21-27 - NWS, emergency management officials seek to save lives, prevent injuries

              * Durbin seeks to expand VA Caregivers Progr......
              * Durbin urges passage of transportation bil......
              * Durbin: U.S. watching 'controversy' over m......

              * Senators Trying to Impose Sanctions on Ira......




              Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller