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* Illinois sells largest Build America Bond offering in three months
The biggest and longest-term maturity in the transaction was $520 million of 6.63 percent securities due in February 2035, priced at 205 basis points, or 2.05 percentage points, more than benchmark 30-year Treasuries.
* Money woes could threaten high-speed rail’s future
The $8 billion in stimulus cash awarded to 13 high-speed rail corridors across the country may seem like a windfall for advocates, but there’s a catch: The money isn’t enough to finish any of the major projects.
* Illinois may get new regulations for debt settlement companies
[Lisa] Madigan recently forwarded legislation in the state that would forbid debt settlement companies from charging certain fees, including those charged to consumers monthly. Companies would also have to get a license from the state’s Department of Financial and Professional Regulation.
* Madigan sues Williamson County contractor
* Obama Budget Includes Thomson Money
The historically large budget includes about $270 million for the prison, which is slated to host terrorists moved from Guantanamo Bay prison when it is closed.
That’s nearly double the amount that Governor Pat Quinn sought for the penitentiary, $100 to $145 million.
* Roland Burris piles up legal debt
The Illinois Democrat has told Senate officials that he has piled up debt worth more than $649,000, according to new filings released Monday.
* Chicago housing market won’t recover until 2013
* New-home sales: ‘The industry has been basically obliterated’
* Chicago Alderman Isaac Carothers pleads guilty to corruption
* Ald. Carothers pleads guilty to bribery, resigns
* Crooked alderman followed his father up political ladder
Carothers’ father and political mentor, former Ald. William Carothers (28th), went to prison in 1983 for extorting up to $32,500 in remodeling work for his ward office from the builders of Bethany Hospital. The son’s crimes were strikingly similar.
* Carothers’ dad convicted of corruption charges too
* Metra Increases Fares
One-way fares are going up by 6 percent today. That’s about 30 cents more per ticket, and weekend fares will increase from $5 to $7.
* Midway Airport privatization in holding pattern
Last week, the city asked the FAA for more time to complete the deal, a request the FAA has granted, according to a spokesman for the city Finance Department. The city had a Monday deadline to file the notice to comply with an FAA pilot program that allows up to five U.S. airports to be privatized, including one major hub, and Chicago wants to keep first dibs on that designation.
* City awards clout-heavy firm towing contract, again
Shortly after taking office in 1989, Daley turned towing over to Environmental Auto Removal, a newly-formed company whose owners had close ties to former State Sen. Jeremiah Joyce (D-Chicago), one of the mayor’s closest friends in politics.
* North Shore to vote on $174M school referendum
* District 207 approves $15 million in cuts, lays off 137 employees
* Lake Park aims to trim $1.7 million
* Wheeling OKs buyouts for 15 employees
* Former Lincoln clerk sentenced to three months for embezzlement
* Lisle HR director resigns after theft charge
* SIUC enrollment down again for spring
Total enrollment stands at 19,134, which includes 16,950 students on campus and 2,184 off-campus. The off-campus enrollment reflects a 21-student increase compared to a year ago.
* Enrollment drops 1.3 percent
* John A. Logan continues to see increase in classes
* Normal Council Votes to Increase Sales Taxes
In the first local increase since 2001…Normal council members approved a point 2-5 percent sales tax increase that will go into effect on July 1st.
The tax hike will bring Normal’s rate up to 1.5 percent, which is in line with Bloomington’s.
* Rockford’s slide in sales tax revenue slows in October
The city’s October revenues were off just 3.7%; other area municipalities didn’t do as well.
* New Lenox seeks agreement with CN
While most towns in this area already have negotiated settlements with CN, Will County, New Lenox and seven others are still fighting to get the railroad to address their environmental concerns.
Just last month, Plainfield dropped out in exchange for local upgrades, including a system to alert emergency workers about blocked crossings and easements for an overpass at 143rd Street.
* RI wants to look at options for marina
* Galesburg City Council OKs RR overpass pact with state
The City Council authorized a $14.1 million funding agreement with the Illinois Department of Transportation on Monday that will allow the city to begin property acquisition necessary to start the West Main project.
Galesburg was awarded $33.5 million through the state’s capital infrastructure program last summer to build grade separations — overpasses or underpasses — at West Main, East Main and North Seminary streets.
* Union pickets to publicize contract dispute with Galesburg
The American Federation of State, County and Municipal Employees has been attempting to negotiate a new contract with the city for more than a year but those talks have reached an impasse over the union’s demand that it have a guaranteed work week.
* Morton lays out budget-cutting ideas
* Macon County ready to act to avoid effects of coming cash crunch
* [Springfield] School board OKs new college-prep academy
* Don’t Mess with Peoria Pundit: A lesson in ethics for Rachel Parker’s PR guy
posted by Rich Miller
Tuesday, Feb 2, 10 @ 9:33 am
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I see the Log Cabin Republican endorsements are out. Over at the Illinois Review site.
Comment by Reformer Tuesday, Feb 2, 10 @ 9:48 am
After reading about Carothers and his family,
you begin to wonder if politics as “the family business” is not like the crime families that used to dominate the Mafia? Of course, the process of nominating and slatemaking is all important, so the voters actually do not get an actual choice. Alderman Margaret Laurino (39th) has positioned her nephew, John D’Amico (D-15th), in the General Assembly. Both of D’Amico’s parents served prison terms for ghost payrolling and the representative ignored the use of “hired trucks” at work sites in his former job. Alderman Eugene Schulter (47th) is pushing Dan Farley for the legislature; Farley’s father served a prison term for ghost payrolling in the County Treasurer’s office under Edward Rosewell. There is even another Wallace Davis on the ballot. Good grief!
Comment by Honest Abe Tuesday, Feb 2, 10 @ 9:55 am
Perhaps an intern could put together a list of sites to watch-i.e. whatever the voting counting websites are ect.
Comment by shore Tuesday, Feb 2, 10 @ 9:56 am
To whom does Senator Burris own the legal debt? just curious.
Comment by really? Tuesday, Feb 2, 10 @ 9:58 am
Thanks for the link to Peoria Pundit this morning.
Incredibly, the guy is still trolling on my site claiming I altered his the words to his press release even though the same document was reprinted elsewhere.
And this guy works as a communications consultant.
Comment by Billy Dennis Tuesday, Feb 2, 10 @ 10:07 am
Rich, what in the world did you find so off-putting in that Gail Collins’ piece? Like most of her generally sharp writing, she repeatedly hits the nail on the head for non-Illini, such as:
“Illinois is in such a mess that no one appears to want to spend much time talking about that unfinanced pension thing. Mainly, the various candidates just look for new and more innovative ways to defame one another.”
What are you objecting to? That outsiders care most about the senate primary? That Obama was so fond of Alexi’s front runner status that he tried and failed to get Lisa Madigan to run? That Alexi’s age and experience won’t be an issue in the fall if he wins? That Scott Brown’s election didn’t teach the tea party movement a lesson in moderation? That there isn’t a lot of nepotism in the races here? I don’t get it!
Comment by lake county democrat Tuesday, Feb 2, 10 @ 10:33 am
Re: Gitmo-Thomson
a majority of illinoisans oppose gitmo-thomson and for good reason. President obama should not be pushing. gitmo-thomson, amongst other things, is exactly why he will not be re-elected in 2012.
poor decisions like gitmo-thomson is what you get when youth and inexperience are sent to d.c. and get into the white house.
Comment by Will County Woman Tuesday, Feb 2, 10 @ 12:25 pm
Will County Woman: It’s my impression that the opposite is true and that most Illinoisans are NOT opposed to what is happening. If you have a valid poll stating otherwise, please present a link.
Comment by Billy Dennis Tuesday, Feb 2, 10 @ 1:43 pm
go look at the trib’s most recent poll, and i think rasmussen.
Comment by Will County Woman Tuesday, Feb 2, 10 @ 2:16 pm