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* Moody’s Downgrades GateHouse On ‘Likelihood’ Of Default
GateHouse Media is likely to default under its credit agreement unless it can negotiate an amendment to its covenants or get a cash injection from its largest stakeholder, Moody’s Investor Service says in a report downgrading the community newspaper publisher’s credit and probability of default ratings.
Moody’s downgraded GateHouse’s Corporate Family rating to Caa1 from B2. Under Moody’s definition, the new rating signifies a “substantial risk” of default.
Moody’s also downgraded its Probability of Default rating to Caa2 from B3.
* GateHouse Media cut to Caa1: Outlook negative - Moody’s
* News business is news-worthy
* Chicagoans happier with their city than Parisians, New Yorkers
* Chicago Lay-Offs a Possibility in Bleak 2009 Budget Picture
* Daley mum on budget shortfall specifics
Daley cited the national economic downturn as the reason he won’t release the city’s preliminary budget numbers to the city clerk by the deadline.
Under Daley’s plan, the city would be divided into 10 to 20 “franchise areas,” each with a single hauler. Instead of choosing private companies to pick up their waste as they do now, businesses and institutions would be stuck with whatever company the Daley administration picks for them. For seven years.
Let’s see if we have this right: The mayor wants to usurp business owners’ choice, bestow monopolies on 10 to 20 lucky contractors and invite the usual abuses that inevitably occur when lucrative city contracts are in play. What part of this is good for the citizens of Chicago?
* Barking up the wrong tree
This year’s anti-pit-bull measure is a benevolent-sounding proposal to require that dogs (and cats) older than 6 months be spayed or neutered. The City Council got a lot of attention on Tuesday when former TV game show host Bob Barker showed up to talk in favor of the idea.
* Report: Illinois beaches 1st in bacteria levels
* GOP ‘Agenda for Action’ more wish list than blueprint
The Illinois House Republican “Agenda for Action” is a lot like a child’s Christmas list: There are a lot of good things on it, but the likelihood of getting them all is small.
* Lake County Radio Personalities Debate Pros and Cons of a Constitutional Convention
* Meth Coffee fails to amuse Madigan
* Decision to charge piano owners in Birkett’s hands
* Peraica donors include felons
* Alvarez, Peraica still trading barbs on questionable donors
* Peraica giving back donations
* Misspellings, grammar errors put county mag on ice
But county officials have the final say on what’s published. And Tracy accepted $24,999 from Stroger’s administration last November to launch the magazine — $1 under the amount that would have required the approval of the full Cook County Board.
* Pat Cassidy leaves WBBM-AM 780
* Politics Is National in Local Web Campaign
* Billing snafus led to some CTA overcharges
* Metra looking out for the Southland
posted by Kevin Fanning
Thursday, Jul 31, 08 @ 8:37 am
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Peraica sounds a bit whiny with his back and forth with Alvarez.
Barker to speak on dog measure…. you just can’t make this stuff up.
Comment by Ghost Thursday, Jul 31, 08 @ 8:50 am
Wow, Pravda would be proud of Comrad Toddler. I could have edited the newspaper for a nominal fee. I guess that is what happenes when you let political hacks do the work of real professionals.
I thought democrats were against No-Bid contracts? I guess if theya re good enough for the warzone in Iraq, then they are good enough for the warzone of Chicago.
Comment by Wumpus Thursday, Jul 31, 08 @ 9:12 am
I have to love Burke’s dog ordiance.
Here’s an idea: Let’s take the most responsible dog owners, and penalize them, since they are the only ones that would actually try and follow a law.
My German Shep is not neutered because I take GSDs very seriously. I’m a responsible owner who believes that TRAINING is the way to deal with a dog, as is buying a dog only from the most reputable breeder.
So of course, Burke, in his great wisdom, would require me to pay for a breeder’s license for a dog that I nave no interest in breeding. Perfect.
When the right starts whining about “Nanny State” they need to look for further than Alderman Burke.
Comment by Skeeter Thursday, Jul 31, 08 @ 9:31 am
Nice plucked paragraph on HRO’s agenda…I guess no political reporters have mused on the House dems’ ‘Agenda for Inaction’, ‘Agenda for Dysfunction’, or ‘Agenda for statewide bankruptcy’. At least HRO presented a few proposals that could save people a little money and make kids a little safer. Haven’t seen any type of plan from the dysfunctioncrats….Your left leaning slant is ever present. Welcome back from vacay!
Comment by heet101 Thursday, Jul 31, 08 @ 9:32 am
Please issue an Amber Alert for Skeeter. I disagree with Skeeter a lot, but he is civil and does not seem to take himself too seriously. He is sounding like one of those nutty gun owners regarding his dogs.
The breeding license seems like a nice little revenue scheme as there are a lot of responsible dog owners in Chicago who would follow the law.
Comment by Wumpus Thursday, Jul 31, 08 @ 9:54 am
Poor poor Tony Peraica. Exposed for his ties and money from felons all the while running to become the chief lawdog in Cook County. If he wasn’t cooked and done before (and he was), he certainly is now. His best response is to complain that Assistant State’s Attorneys that Alvarez has worked with for two decades gave her some money. Come on! Is that really the best he can do? She got money from her friends and colleagues…prosecutors - he got money from his friends and colleagues…convicted felons. That’s the bottom line. Tony, go away!
Comment by DA Thursday, Jul 31, 08 @ 10:12 am
Wumpus,
Thanks for the strange personal attacks. They sure added to the debate.
That being said, people do not spend $10 for a dog license. How many breeder’s licenses do you think they would sell?
Further, I would like to see some Chicago official check my dog’s area to see if he’s fixed. I have hard time believing that the city is going to add “dog ball checkers” to the city budget.
It will be on the books, Burke will feel good about doing something [very important of course — we can’t have a cranky Alderman Burke], but nothing will change.
Comment by Skeeter Thursday, Jul 31, 08 @ 11:30 am
No Skeeter, that was a compliment. I agree with you. That is the same arguement many gun proponents make, that is all.
As for Dog Ball Checkers, I think Stroger still has more family and Daley still has more friends out there. Never say never.
Comment by Wumpus Thursday, Jul 31, 08 @ 11:35 am
Sorry,
My bad.
Mis-interpreted the prior comments. The “nutty” through me off.
Comment by Skeeter Thursday, Jul 31, 08 @ 11:51 am
Besides Skeeter, everyone knows that people who raise Pit bulls for cash or for fighting are law abiding citizens who will run out and comply with this measure, thus unknowingly thwarting themselves with their upstanding citizenry.
Comment by Ghost Thursday, Jul 31, 08 @ 12:11 pm
Ghost,
Are you trying to suggest that BOB BARKER may be mistaken about the merits of this legislation? But he is a recognized expert in canine reproductive behavior, isn’t he?
You didn’t think Burke would bring in just some B-list semi-celebrity shill? Barker knows dog behavior and reproduction. Otherwise, why would he be testifying like some sort of expert?
Maybe they can bring Bob back to check pit bull balls.
“Fine, Bob, we will pass it but we want you and Burke to to the first examinations.”
Who knows. Maybe pit bulls LIKE having that checked. We should ask Bob.
Comment by Skeeter Thursday, Jul 31, 08 @ 12:18 pm
re the pet overpopulation and safety ordinance…
First, there are at least seven exemptions for those owners who do not want to spay or neuter their pets, including a note from your vet — getting a breeding license is only one option for an exemption. Second, no one realistically expects this to be proactively enforced — it’s not the responsible owners who will be targeted, but rather gives the police another tool to use against those who don’t take care of their animals…
Finally, knock Bob Barker all you want, but he really has dedicated that last 20 or so years of his life to this issue, and he is nationally recognized for doing so.
Comment by just the facts... Thursday, Jul 31, 08 @ 1:08 pm