Roger Ebert passes away
Thursday, Apr 4, 2013 - Posted by Rich Miller
* A Chicago media giant has passed on…
[Roger Ebert], 70, who reviewed movies for the Chicago Sun-Times for 46 years and on TV for 31 years, and who was without question the nation’s most prominent and influential film critic, died Thursday in Chicago. He had been in poor health over the past decade, battling cancers of the thyroid and salivary gland.
He lost part of his lower jaw in 2006, and with it the ability to speak or eat, a calamity that would have driven other men from the public eye. But Ebert refused to hide, instead forging what became a new chapter in his career, an extraordinary chronicle of his devastating illness that won him a new generation of admirers. “No point in denying it,” he wrote, analyzing his medical struggles with characteristic courage, candor and wit, a view that was never tinged with bitterness or self-pity.
On Tuesday, Mr. Ebert blogged that he had suffered a recurrence of cancer following a hip fracture suffered in December, and would be taking “a leave of presence.” In the blog essay, marking his 46th anniversary of becoming the Sun-Times film critic, Ebert wrote “I am not going away. My intent is to continue to write selected reviews but to leave the rest to a talented team of writers hand-picked and greatly admired by me.”
More…
“‘Kindness’ covers all of my political beliefs,” he wrote, at the end of his memoirs. “No need to spell them out. I believe that if, at the end, according to our abilities, we have done something to make others a little happier, and something to make ourselves a little happier, that is about the best we can do. To make others less happy is a crime. To make ourselves unhappy is where all crime starts. We must try to contribute joy to the world. That is true no matter what our problems, our health, our circumstances. We must try. I didn’t always know this and am happy I lived long enough to find it out.”
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Rauner wants referendum on gay marriage
Thursday, Apr 4, 2013 - Posted by Rich Miller
* This whole idea that gay marriage ought to be decided via referendum, when Illinois has no binding referendum provisions, is basically just a dodge. Likely gubernatorial candidate Sen. Kirk Dillard is for deciding the issue by referendum, and so is Bruce Rauner. From his appearance on WLS Radio this morning…
Cohn: This has been an important topic that’s being discussed all around the country right now - gay marriage. Where do you stand on gay marriage?
Rauner: Gay marriage is, it’s an important issue. I think it’s best decided by the voters. Frankly either voter referendum or whatever format voters think makes sense. I think the voters should decide that issue.
Cohn: You don’t have a personal feeling about gay marriage?
Rauner: I really don’t. I think it’s best done by the voters. By society should accept it when the time is right for them. […]
I believe the voters should decide on gay marriage. That’s not lacking leadership, that’s saying voters decide. If, for example, the legislature passes gay marriage, I’m not gonna fight to reverse it. If they don’t pass it, I’m not gonna advocate for it. At the right time, the voters will make their views known. I think that’s a good outcome.
Rauner said he wants to focus like a laser on other issues that are important to him…
There are many very important social issues - reproductive rights, abortion, gay marriage, other issues - and the reality is, our state is in dire, dire condition. And if we argue among ourselves on social issues today rather than focusing like a laser on our economy, on the graft in the inefficiency and corruption and waste in springfield and on our education system - which is the future for our children and the Illinois economy - unless we focus like a laser on those three issues, if we allow ourselves to get distracted by other arguments, they’re important arguments, but if we allow ourselves to get distracted, we won’t fix the core problems of the state.
He’s running for governor, not office manager.
Just because a candidate wants to focus on a set of issues and avoid another set doesn’t mean he’ll be allowed to. Eventually, he’s gonna have to answer these questions.
* Meanwhile, yesterday’s post about some of Rauner’s past business dealings prompted an ally of one of his opponents to toss some opposition research over the transom. From that OR report about Rauner’s involvement in Lason, Inc. through his company GTCR…
After Gaining Control Of The Company, GTCR Installed William Rauwerdink As CFO Of Lason. “Ironically, shortly after GTCR’s original investment in Lason in the mid-1990s, the firm installed as CFO William Rauwerdink, who was fresh off of an SEC settlement related to insider trading charges.” (“Watercooler,” Mergers & Acquisitions, 8/1/11)
Rauwerdink Had Settled With The SEC Over Insider Trading Charges Shortly Before Being Hired At Lason. “Ironically, shortly after GTCR’s original investment in Lason in the mid-1990s, the firm installed as CFO William Rauwerdink, who was fresh off of an SEC settlement related to insider trading charges.” (“Watercooler,”Mergers & Acquisitions, 8/1/11)
In 2003, Rauwerdink And Two Other Lason Executives Were Indicted For Conspiring To Commit Fraud And Lying To The Securities And Exchange Commission.
More…
Lason Filed For Chapter 11 Bankruptcy In December of 2001. “Lason Inc., once a high-flying high-tech company, soughtbankruptcy protection Wednesday, after amassing more than $ 360 million in debt in recent years.” (“Troy, Michigan-Based High-Tech Firm Seeks BankruptcyProtection,” Detroit Free Press, 12/6/01)
Lason Had Burned Through $450 Million In Cash, $220 Million In Stock, And Amassed $320 Million In Debt By Purchasing 76 Companies In 4 Years. “The company’s road from rising tech power to bankruptcy illustrates the perils of growing too fast. Risher, who joined the company in November 2000 as chief financial officer, said Lason’s prior management team spent roughly $450 million in cash and $220 million in stock to acquire 76 companies in four years. The buying spree loaded Lason with about $320 million in debt, causing a flurry of troubles over the past several years.”(Cheryl Meyer, “Buying bing, faulty books drove Lason into bankruptcy,” Daily Deal,12/7/01)
Lason’s Disastrous Acquisitions Strategy Began While GTCR Was The Controlling Shareholder. “The company’s historical strength is as a printing company for automakers and companies who needed a company to print paychecks, bills and statements. Lason acquired eight companies before 1996, and Monroe estimates the company has purchased 50 more since.” (Brent Snavely, “Lason’sbuying binge sends company into stock free fall,” Crain’s Detroit Business, 7/3/00)
Rauner Served On Lason’s Board Of Directors For Nearly The Entire Period Of The Company’s Buying Binge.
GTCR Profited From Lason While Shareholders Lost Everything
Ordinary Shareholders Were Wiped Out By The Lason Bankruptcy. “The company will cancel its current stock, now trading under LSONQ over the counter on pink sheets at 3 cents per share, and issue 30 million new shares of common stock with the majority, 26.25 million, going to the remaining creditors. Current shareholderswill get nothing.” (Jeff Bennett, “Judge Approves Rescue Plan for Troy, Mich.-Based Tech Firm Lason,” Detroit Free Press, 5/1/02)
One Shareholder Reported Losing $50,000 He Had Saved For His Daughter’s College Tuition. “David Norman feels a little vindicated today, knowing the men who may have had a hand in making his $50,000 investment disappear have been charged for their involvement in the downfall of Lason Inc. Norman, 41, of Romulus bought shares of the Troy-based company’s stock through his 401(k) plan in 2000. He thought he was getting in on the ground floor, even though the stock was trading at $2 after hitting a high of $64.94 in 1999…As for Norman, he would like the chance to show Monroe and Messinger the red ink splashed across his portfolio. “I have a daughter who is 2 1/2, and I was going to use the money to send her to the University of Michigan, but who knows now if she will be able to go,” he said. “I am afraid to invest anymore because we have been burned. What company is going to do it to us next?”” (Jeff Bennett, “Troy, Mich., High-Tech FirmShareholders Take Solace in Executive Indictments,” Detroit Free Press, 5/16/03)
Go read the whole thing.
That could make a good TV ad. More to come, I’m sure.
* And this is from the Rauner campaign…
Bruce Rauner announced the addition of Dick Uihlein, Mike Keiser and Matt Kibbe to his Exploratory Committee.
Dick Uihlein and Mike Keiser are distinguished entrepreneurs and business leaders, and Matt Kibbe is a highly-regarded figure in the conservative movement. Brief biographies of each individual are below.
“Two things Illinois desperately needs are jobs and a fresh approach to government in Springfield. I am extremely excited to add to my exploratory committee respected leaders who know what it takes to create more jobs and shake up state government,” said Bruce Rauner. “All three bring great political and business insight to the committee. I couldn’t be more excited to have their support.”
Uihlein has been a huge backer of Dan Proft in the past. Kibbe is President and CEO of FreedomWorks.
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Question of the day
Thursday, Apr 4, 2013 - Posted by Rich Miller
* SJ-R on the income tax increase’s upcoming expiration…
University of Illinois economist J. Fred Giertz said he doubts lawmakers would be willing to forgo the money when the state already is in dire financial trouble.
“I don’t see people willing to do that,” said Giertz. “Even with the tax increase, we have a shortfall. If you add pension costs, they are not going to think seriously about getting rid of the tax increases unless they are willing to make horrendous budget cuts.”
Next year is an election year, including for governor. Giertz said elected officials might consider it easier to extend the rate than to raise rates in the first place.
“Maybe they believe the political cost of not letting them expire won’t be as great as increasing the rates,” said Giertz.
* The Question: Do you believe the General Assembly will pass a bill that is signed into law permanently extending the tax hike? Take the poll and then explain your answer in comments, please.
web polls
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* Just lousy…
The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for February 2013. In the past month, the indexes increased in 45 states, decreased in three (Alabama, Illinois, and New Mexico), and remained stable in two (Hawaii and Wyoming), for a one-month diffusion index of 84. Over the past three months, the indexes increased in 46 states, decreased in two (Illinois and Wyoming), and remained stable in two (Alaska and Alabama)
* The national map…
* The explanation…
The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic. The four state-level variables in each coincident index are nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average). The trend for each state’s index is set to the trend of its gross domestic product (GDP), so long-term growth in the state’s index matches long-term growth in its GDP.
[Hat tip: IR]
…Adding… Related…
* Governor Quinn in Mexico for trade mission
* Business groups blast Quinn’s plan to close ‘corporate loopholes’ - Governor should curb spending before raising taxes, critics say
* Corporate Tax Policy Tug Of War Begins
* Business, advocacy groups split on Quinn tax plan
* Business groups blast Quinn’s loophole plan
* Illinois legislators consider tax on speculative trading
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Quote of the day
Thursday, Apr 4, 2013 - Posted by Rich Miller
* Mayor Rahm Emanuel’s brother doesn’t think the foes of Chicago school closings have a chance…
“Give in now. Give in now. Rahm will win. Rahm always does win,” Ezekiel “Zeke” Emanuel told The Huffington Post, when asked what advice he’d give the teachers union.
Emanuel said his brother’s policies are intended to decrease neighborhood crime and improve how the city educates its students. He offered little hope to those who want to fight the mayor’s administration.
“Like I said, you’re not going to beat him. … You can bang your head against the wall, but he’s pretty tough,” Zeke Emanuel said.
I really think this Emanuel family hubris is gonna backfire one day.
* Meanwhile, Gov. Pat Quinn is not all that ecstatic with the school closings and wants an elected school board…
Governor Pat Quinn offered a serious admonition to Chicago Public Schools leadership about closing 50-some elementary schools when he stopped by for a special edition of Chicago Newsroom on Friday.
“That has to be done with extreme care,” he warned. “I would recommend to the school board of Chicago to take this in a very careful manner and not to do anything that’s hasty or ill-conceived. To try and do it all in a very short period of time I think is dangerous.”
But he went further, saying he also feels that very board should be replaced by an elected body.
“Ninety five percent of the school boards in America are elected by the people,” he told us — in direct disagreement with Mayor Emanuel — “And I think the Chicago Board of Education which for years has been appointed, it would serve us well to have an elected school board… Don’t you think that if we had an elected school board in Chicago, where I live, that more of the issues of education would be debated by folks who are elected by their fellow citizens? I think that’s a healthy process.”
Thoughts?
* Related…
* Byrd-Bennett defends CPS closing plan, insulted by racism charges
* CPS chief lashes back at critics who call closings racist
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* I told subscribers about this in some detail yesterday…
An effort to elect officers on the Southern Illinois University’s governing board short-circuited when two members walked out of the panel’s meeting.
Trustee Marquita Wiley and SIU-Edwardsville student trustee David Hamilton left just before the board’s expected vote Wiley had sought to delay. The vote didn’t happen because the board didn’t have a quorum after Wiley and Hamilton left the meeting.
Wiley says the vote shouldn’t take place until Gov. Pat Quinn and the Illinois Senate sign off on three new members to replace a trio whose term has expired. The Senate recently rejected three of Quinn’s appointments to the panel.
* More…
SIU Edwardsville student trustee David Hamilton made a motion to postpone the officer and committee chair nominations until a full board is seated.
“I cannot justify electing a Chairman when I’m the only representative from one of our major campuses,” Hamilton said.
* Background…
Tensions on the university board have been high since trustees voted last year to remove Herrin as chairman of the group, a post several trustees and Poshard say he obtained at the request of Gov. Quinn upon being appointed to the board in 2011.
Things boiled over in February, when Quinn removed the three Metro East trustees and sought to replace them with three other individuals. Metro East lawmakers led an effort in the state senate to reject those appointments. Senators regarded Quinn’s removal of Simmons, Hightower and Hinrichs as retaliation for voting Herrin out as chairman, as well as a maneuver to put the Harrisburg resident back in the chairman’s seat.
* This thwarted move by Quinn’s allies was obviously intended to elect Herrin as chairman. Sen. Bill Haine, who is about the most chill legislator I’ve ever met, went fully ballistic after the meeting adjourned…
State Sen. Bill Haine said Wednesday he will file legislation to have all of the Southern Illinois University Board of Trustees removed from office after a board member tried to have himself appointed chairman. […]
“I find it to be disturbing, and I find it to be an insult to the Senate, and to SIU itself, that [Herrin] would attempt, with a rump board, to ensconce himself as chair of the board, rather than wait for the constitutional process to work through, and the negotiations between the metro-east legislators and the governor’s office to conclude,” said Haine, D-Alton. […]
He added, “I’m going to pursue a bill which eliminates all of the trustees, and gives the governor another shot at a clean slate, to appoint an entirely new board.” […]
Poshard said the metro-east legislators have been pleading to meet with Quinn since November and it has not happened yet. “Maybe Bill’s got the right idea here,” he said. “That’s probably what it’s going to take.”
* WSIU posted the raw audio of the aborted meeting…
What a mess.
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* Rick Pearson at the Tribune rightly points to a very real problem with passing the gay marriage bill: African-American House members…
With the measure a dozen votes or less shy of the 60 required for final approval, advocates on either side of the issue consider the 20 black House members key swing votes in the spring session.
The traditionally liberal black caucus, however, has not uniformly lined up in favor of gay marriage, even as home-state President Barack Obama switched course and backed it. Only one of the 14 House co-sponsors is black.
Some African-American lawmakers are uncomfortable with characterizations of gay rights as the latest front in the civil rights movement.
Others fear political repercussions, saying ministers opposed to same-sex marriage have warned legislators who vote for it to never come back to their churches, where politicians traditionally campaign on the final Sundays before an election.
“To be honest with you, it’s a little disheartening,” said Democratic Rep. Will Davis of Homewood, a black caucus member who has not made up his mind as he works out whether gay marriage is a moral or public policy issue.
“There are so many large-scale issues important to the black community, but you’ve never heard from them,” Davis said of the churches opposed to gay marriage. “This doesn’t create jobs. It doesn’t create opportunities and, for the most part, they are silent on helping African-Americans getting job opportunities in this state. They are silent on the increasing prison population.”
* And on that same note, we have two competing press releases…
AFRICAN AMERICAN CLERGY COALITION TO MEET WITH CARDINAL FRANCIS GEORGE TO DISCUSS LEGISLATIVE EFFORTS AGAINST PENDING REDEFINITION OF MARRIAGE BILL
BISHOP TROTTER, PASTOR MEEKS AND BISHOP DAVIS TO LEAD OTHER AFRICAN AMERICAN DENOMINATIONAL LEADERS INTO MEETING WITH CARDINAL GEORGE
Friday, April 5th, 2013@ 11:30 AM (Press Conference)
Archdiocese’s Archbishop Quigley Center, 835 N. Rush St., Chicago, Illinois
Cardinal George of the Archdiocese of Chicago in his role as chairman of the Catholic Conference of Illinois and members of the newly formed African-American Clergy Coalition (AACC) will join to express opposition to redefinition of marriage legislation at a press conference at 11:30 a.m. Friday, April 5, at the Archdiocese’s Archbishop Quigley Center, 835 N. Rush St.
Senate Bill 10, which changes the state’s legal definition of marriage from “between a man and a woman” to “between two persons,” has passed the Illinois Senate and is under consideration by the Illinois House. The House returns to session on Monday after a two-week spring break, while the Senate returns on Wednesday.
Cardinal George earlier this year issued a letter to parishioners on redefinition of marriage efforts, and also sent a letter with other faith leaders representing more than 1,700 faith communities to every Illinois lawmaker, urging a “no” vote on any redefinition of marriage legislation.
The African-American Clergy Coalition formed last month and announced a public relations/lobbying effort against redefinition of marriage that includes radio ads, a website, field operations and robo-calls. The Catholic Conference of Illinois supports AACC’s efforts. (africanamericanclergycoalition.org)
The following clergy are confirmed to be joining Cardinal George (in alphabetical order):
Bishop John Bryant, Presiding Bishop of the African Methodist Episcopal Church (AME)
Pastor Byron Brazier, Senior Pastor of the Apostolic Church of Christ
Bishop Lance Davis, Senior Pastor of the New Zion Christian Fellowship Church of Dolton
Pastor Kenneth Giles, Senior Pastor of the Greater New Mount Olive Baptist Church
Pastor James Meeks, Senior Pastor of Salem Baptist Church of Chicago
Bishop Horace Smith, Presiding bishop of the Pentecostal Assemblies of the World
Pastor Steven Thurston, President of the National Baptist Convention USA
Bishop Larry Trotter, Presiding prelate of the New Century Fellowship International
* And…
African-American Clergy Urge Immediate Passage of Marriage Equality Legislation in Illinois Pastors, Faith Leaders Call on General Assembly to Act Now in Approving the Religious Freedom and Marriage Fairness Act
Who: Prominent African-American Clergy and Faith Leaders
What: Faith leaders call on Illinois General Assembly to grant equal protection to all Illinoisans and their families.
Where: Screening Room II – 3rd Floor
Allegro Hotel
171 W. Randolph Street, Chicago
When: Thursday, April 4, 2013
10 A.M.
Discuss.
…Adding… In other related news…
Conservative Republican state Sen. Jim Oberweis (R-Sugar Grove) — who was a chief critic of Illinois Republican Party Chair Pat Brady’s embrace of gay marriage — had a different take on U.S. Sen. Mark Kirk’s surprise backing of same sex marriage on Tuesday.
Oberweis said there’s enough room in the Republican tent to embrace differing beliefs.
Oberweis, who raised objections to Brady, said that was not due to the underlying issue, but because Brady on his own took a position against the party platform.
As for Kirk’s future in the party, Oberweis’ response: “Mark Kirk is a smart guy. I assume he made some political calculation that this was OK or would help him. I have no idea, I didn’t talk to him,” Oberweis said. “Mark is usually pretty careful, and pretty political. I assume that he made a calculation that he believes it helps him not hurts him.”
Interesting.
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Question of the day
Wednesday, Apr 3, 2013 - Posted by Rich Miller
* While looking for yesterday’s photo, I stumbled upon this one of Lt. Gov. Sheila Simon, Attorney General Lisa Madigan and some guy…
* The Question: Caption?
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Today’s history lesson
Wednesday, Apr 3, 2013 - Posted by Rich Miller
* Chicago Tribune editorial board…
Following an Illinois tradition that resembles a Stalin-esque concentration of power, the incumbent political party of North Riverside kicked the Transparency & Accountability in Politics Party off the ballot — because the ampersand allegedly made its name too long to be there legally. […]
While laws limiting ballot access are necessary to weed out genuinely ineligible candidates, election panels and court precedent have transformed those laws into a labyrinth so favorable to insiders, so undemocratic, that Josef Stalin himself would blush with pride.
* Oh, please. Stalin would’ve scoffed at such silly notions as “ballot access.” He was a real live and awfully brutal dictator, not some powerful Illinois politician that a newspaper doesn’t like. Stalin would have had the offenders murdered, or if he was in a good mood, sent to concentration camps…
After the Soviet Union dissolved, evidence from the Soviet archives also became available, containing official records of 799,455 executions 1921-53,[112] around 1.7 million deaths in the Gulags and some 390,000 deaths during kulak forced resettlement – with a total of about 3 million officially recorded victims in these categories.
Stalin didn’t rely on electoral technicalities in Poland, either…
The parties at Yalta further agreed that the countries of liberated Europe and former Axis satellites would be allowed to “create democratic institutions of their own choice”, pursuant to “the right of all peoples to choose the form of government under which they will live.” The parties also agreed to help those countries form interim governments “pledged to the earliest possible establishment through free elections” and “facilitate where necessary the holding of such elections.” After the re-organization of the Provisional Government of the Republic of Poland, the parties agreed that the new party shall “be pledged to the holding of free and unfettered elections as soon as possible on the basis of universal suffrage and secret ballot.”One month after Yalta, the Soviet NKVD arrested 16 Polish leaders wishing to participate in provisional government negotiations, for alleged “crimes” and “diversions”, which drew protest from the West. The fraudulent Polish elections, held in January 1947 resulted in Poland’s official transformation to undemocratic communist state by 1949.
So, yeah, our election laws are goofy in Illinois. I don’t dispute that. But Stalin wouldn’t have been proud of us, he would have thought us weak and not sufficiently blood-thirsty. And to say otherwise is amazingly stupid.
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A little quick Rauner oppo
Wednesday, Apr 3, 2013 - Posted by Rich Miller
* Sometimes, comments here can be quite interesting. For example, this comment about possible Republican gubernatorial candidate Bruce Rauner was posted yesterday…
SEIU had something called GTCR watch.org but it is no longer online. Anyone know what they found?
I looked up the site on the Wayback Machine, but nothing came up. I used “.org,” “.com” and “.net.” However, I did find this press release via the Google…
A leading private equity firm with a history of investing in companies with poor corporate governance is being taken to task by SEIU of an indictment for fraud at one of its portfolio companies.
The latest edition of GTCR Watch, a newsletter for investors, details the fraud indictment at Lason, Inc., a document printing, imaging, and storage firm incorporated in Delaware and headquartered in Troy, Michigan.
An indictment for fraud brought in May 2003 by a federal grand jury in Michigan, and civil fraud charges filed on the same day by the SEC, allege that this rapid growth allowed Lason’s executives to fraudulently inflate the firm’s reported revenue, expenses, and earnings from 1997 onward.
The indictment alleges that fraudulent managerial behavior occurred at Lason while GTCR principles Bruce Rauner and Joseph Nolan served on its board and on key board committees, costing shareholders over $900 million in lost equity.
“Any institution contemplating an investment in a GTCR fund should consider the performance of GTCR’s principals as public company directors before undertaking such a commitment,” said Steve Abrecht, Director of the SEIU Capital Stewardship Program.
The report has been posted on a website, www.GTCRWatch.com, which provides investors with detailed information about the corporate governance practices of GTCR Golder Rauner, LLC’s companies.
* The company’s CFO ultimately pled guilty and was sentenced to prison…
William J. Rauwerdink, the former CFO of Lason, Inc., was sentenced to 3 years and nine months in prison for his role in the company’s accounting fraud nearly 10 years ago, according to the U.S. attorney’s office
Rauwerdink pleaded guilty last November to conspiring to commit mail, wire, and bank fraud and making false statements to the Securities and Exchange Commission, and to filing a false and fraudulent quarterly report with the SEC — offenses which date back to early 1998 through late 1999. It was also not the first time Rauwerdink had run afoul of federal regulators — as CFO of Medstat Group, he agreed in December 1995 to settle charges of insider trading in Medstat stock and was permanently enjoined by a federal district judge from committing securities fraud. […]
“Rauwerdink was deeply involved in this accounting fraud,” said a press release from Stephen J. Murphy, United States Attorney for the Eastern District of Michigan. Rauwerdink, Murphy said, met with other Lason executives “to ensure that Lason’s reported earnings per share met or exceeded the estimates of stock analysts.”
According to the announcement, Lason reported its inflated earnings per share figures every quarter through press releases drafted by Rauwerdink, conference calls in which he participated, and quarterly and annual filings with the SEC that he signed.
I’m attempting to get the files from that now-defunct website. Stay tuned.
* And if you’d like a hearty laugh, take a look at this Illinois Review article, which really stretches things beyond the limit with a piece called “Rauner and Six Degrees of Bill Ayers.”
They actually “connect” Rauner to Ayers via the Civic Committee of the Commercial Club of Chicago, which is without a doubt the most pro-corporate group in all of Chicago.
Sheesh.
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Behind Kirk’s move
Wednesday, Apr 3, 2013 - Posted by Rich Miller
* Lynn Sweet writes about Sen. Mark Kirk’s endorsement of gay marriage…
Curiously, Kirk, the top Republican in the state, did not use the occasion to explicitly call on the Illinois House to pass a pending gay marriage bill the state Senate already approved.
He did, however, mention the bill in an interview with the Illinois Radio Network…
“I think from what I’ve seen in my talks with Chris Radogno, it would appear that it’s coming soon,” he said in the radio interview. “I do prefer states doing this. I would hope we would restrain our appetite for power in Washington and not take over marriage law for the whole country.”
I’ve said before that Illinois Republican Party Chairman Pat Brady’s support of gay marriage might have more to do with distracting from the few actual GOP votes for the bill than convincing Republicans to vote for it. Just one Senate Republican voted for gay marriage, yet Radogno is predicting ultimate passage. Just one House Republican has announced his support for the bill so far, but there appear to be a small handful of others waiting in the wings.
What Brady’s and Judy Baar Topinka’s - and now Kirk’s - endorsements do is attach high profile faces to a proposal that enjoys broad support, particularly among the young. Yes, it could give cover to some Republicans and let them vote for the bill, but the vast majority of votes for this thing will be Democrats.
Don’t get me wrong. This is a smart play by the GOP. They can have their cake and eat it too, as long as the bill becomes law.
* Meanwhile, I’ve been thinking lately that the “Lincoln” movie was somewhat of an allegory about the modern-day legislative push for gay rights. Sen. Kirk apparently saw the same message…
“I must say I was pretty influenced by the latest movie by Steven Spielberg about Abraham Lincoln. You just think as a Republican leader, my job is to make sure that each generation is more free and has more dignity as an individual which is a unique gift of the United states to the world. The thought of treating a whole bunch of people just because of who they love differently is in my view against that Lincoln tradition, which was brought so well to life by the movie,” Kirk said, according to audio of the interview IRN provided to the Sun-Times.
“I thought the country was ready for it,” Kirk said. “The gay community is larger than it ever has been before. And it’s not in the 1950s closet, so most of of us have gay acquaintances at work or at church and we know them. And the thought of discriminating against our own friends and coworkers is an anathema to me.”
* And as you might imagine, Illinois Family Action is not pleased with Sen. Kirk…
Kirk and U.S. Senator Rob Portman (R-OH) and Illinois Republican Chairman Pat Brady can hide behind the utterly false rhetoric of equality and compassion and thus conceal from America and perhaps themselves their complicity in the destruction of this once great nation.
And what will this mean for America? Diminished religious liberty, diminished speech rights, diminished parental rights, increasing numbers of children denied their inherent right to know and be raised by their biological mother and father, and the ultimate destruction of marriage.
Wait a second. IFA is definitely a strongly pro-life group, and yet they’re bemoaning adoption? What the heck? I thought they were proponents of adoption? I mean, this is from their website…
(T)he truth is that conservative Christians lead the way in worldwide humanitarian relief efforts, they continue to build hospitals and orphanages and schools in many nations, they are active in drug and alcohol rehab programs in the inner cities of America, and they are at the forefront of the pro-life, pro-adoption movement. [Emphasis added.]
Dissing adoption just doesn’t make sense from the pro-life crowd. Seriously, if you totally believe that abortion is murder, then why quibble with who adopts those children and saves their lives as long as they’re law-abiding, loving parents?
* Related…
* Harris: ‘We’ll have marriage equality in Illinois by summer’
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Chaos is not a plan
Wednesday, Apr 3, 2013 - Posted by Rich Miller
* This sort of thinking about state finances really bothers me…
Some people apparently believe in magical fairies. You can’t just wish away the desire of investors to make money. Illinois has one of the strongest bond payment guarantee laws in the entire country. Smart bond buyers know they’re gonna get paid. And since Illinois’ fiscal troubles have driven up the state’s interest rates, savvy investors want to make some money.
Hoping for total chaos is not a plan. And it’s really, really wrong-headed.
* It would be nice, however, if Illinois could follow California’s lead and start getting itself out of this fiscal mess…
Buyers awaiting progress on plans to overhaul the worst- funded state pension system demanded about 1.33 percentage points of extra yield above benchmark munis for 10-year tax- exempt debt that Illinois sold yesterday. That’s almost triple what California had to pay last month.
To raise public awareness of the pension burden, Democratic Governor Pat Quinn released a video in November showing a cartoon of “Squeezy the Pension Python” threatening to strangle the capitol building in Springfield.
To raise public awareness of the pension burden, Democratic Governor Pat Quinn released a video in November showing a cartoon of “Squeezy the Pension Python” threatening to strangle the capitol building in Springfield. Source: AP/Courtesy of Gov. Pat Quinn’s office
In sales about a year ago, the Illinois yield penalty was only double that of the most-populous state. Since then, Standard & Poor’s has cut Illinois twice, to A-, six steps below AAA, as legislators failed to advance a pension fix. Meanwhile, the company raised California’s credit for the first time since 2006, to A, one level higher, after Governor Jerry Brown, a Democrat, proposed a budget for the year beginning July 1 that would leave the state with its first surplus in almost a decade.
“It’s a different credit situation — California has definitely made some difficult steps,” said Robert Miller, who helps oversee $32 billion of munis in Menomonee Falls, Wisconsin, at Wells Capital Management. He said the company didn’t buy the Illinois offer because the spreads were too narrow. “Illinois at this point is more of the status quo.”
California’s governor is now predicting a surplus. He’s cut and cut and cut again and raised taxes. He’s also been lauded for pension reforms, but those reforms are only for new hires. Illinois did that in 2010.
* Related…
* Illinois bond sale includes pension penalty
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