* When I think about this idea, the image of Barney Fife comes to mind. Over-eager and far from well-trained…
School board members in a central Illinois town are thinking about arming and training a handful of administrators as auxiliary police officers so they can carry guns on campus.
Washington police Chief Jim Kuchenbecker says training Washington Community High Schools administrators as officers is a way around Illinois’ law against carrying concealed weapons. The chief and school Superintendent Jim Dunnan talked about the idea after December’s school shootings in Connecticut and presented it to a parents’ group last week.
They’re talking about 40 hours of initial training. Would we send a lone cop out onto a beat with just a week of training - particularly in a sensitive area full of kids?
* More…
Schools in the town have long had an armed officer on campus, but [Council President Kim Brownfield] says that “does not suffice.”
“These [shootings] are happening and we all hate it, but you cannot stop an intruder who forces [his way] through the front of a school building unless you’re going to stop him from within,” she said.
Unarmed people who attempted to stop the killing in Connecticut were killed, but an unarmed teacher stopped the recent California school shooting.
* No action was taken last night…
District 308 School Board members on Monday agreed that a plan to train and arm Washington Community High School administrators should continue to be explored.
But their approval came with the caveat that further research into the plan devised by Police Chief Jim Kuchenbecker and Superintendent Jim Dunnan must be part of a broader discussion of improving high school security.
“We don’t have an agenda and we’re not looking for attention. We just want to be transparent and do all we can to avert a tragedy at the school,” said Kuchenbecker, who presented the plan to the board and more than 100 audience members.
“It would be irresponsible for us not to explore every way possible to provide the safest environment we can for the students and staff.”
I don’t doubt the sincerity of the effort, nor the fear among parents. I just doubt the mechanics of what they’re considering.
I’m also quite open to being told how and why I’m wrong here, but with a reasonable and calm explanation. So, have at it, but take a deep breath first. I’m beyond sick of the overly harsh comments on gun threads. I have a little time on my hands today, so I’ll be deleting and banning the jerks on both sides.
* Meanwhile…
The grade school massacre in Newtown, Conn., has spurred Illinois Gov. Pat Quinn to schedule a statewide summit on school safety.
Educators, law enforcement officials and school management groups from around the state have been invited to the Illinois Emergency Management Agency headquarters Jan. 22 for a four-hour discussion on how to keep schools safe from violence.
The summit is just one part of the governor’s response to the killing of 20 children and six staff members at Sandy Hook Elementary School in Newtown.
Quinn earlier called for a state ban on the kinds of semi-automatic weapons used in the shootings. He also directed the Illinois State Board of Education, the Illinois State Police, the Illinois Emergency Management Agency and other state agencies to review existing programs for student protection and determine whether improvements can be made.
“A critical part of this review is to bring together subject matter experts in the fields of public safety, education, mental health, and law enforcement to address the short- and long-term efforts needed to safeguard our schools,” Quinn said in a Jan. 10 letter inviting various groups to the meeting.
Discuss.
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Question of the day
Tuesday, Jan 15, 2013 - Posted by Rich Miller
* The setup…
The Presidential Inaugural Committee says a float honoring Illinois will be among eight commissioned by the committee in Monday’s parade after President Barack Obama is sworn in.
Illinois is Obama’s home. But the float honors the Prairie State as First Lady Michelle Obama’s native land.
Floats for Hawaii and Pennsylvania represent the birthplaces of President Obama and Vice President Joe Biden. One for Delaware honors the home of Biden and his wife, Jill.
Monday is the observance of the Rev. Martin Luther King Jr.’s birthday. The late civil rights leader’s float will feature his quote, “Out of the mountain of despair, a stone of hope.”
More info on the parade is here.
* The Question: What should be the theme of Illinois’ float?
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Poll: Halvorson leads, but can be beat
Tuesday, Jan 15, 2013 - Posted by Rich Miller
* A poll taken for state Sen. Toi Hutchinson’s campaign shows her in the “top tier” with former Congresswoman Debbie Halvorson in the 2nd Congressional District special primary.
The poll, conducted January 8-10 of 400 likely voters by Normington-Petts with a margin of error of +/- 4.9 percentage points, has Halvorson leading the crowded field with 16 percent to Hutchinson’s 12 percent. That’s a significant lead, but within the margin of error.
Robin Kelly comes in third, with 8 percent (basically right on the MoE), followed by freshman state Sen. Napoleon Harris and former Congressman Mel Reynolds at 7 percent. Ald. Anthony Beale is at 5 percent and everyone else in the 11-person field garners a grand total of 5 percent. So, about 40 percent are undecided.
Sen. Hutchinson is getting 37 percent of the vote in her Senate District, according to the poll, which is the most solid geographic base of any of the candidates. Sen. Harris’ district is completely within the 2nd CD, but he’s pretty new at this and does not perform as well as Hutchinson.
After a brief “informed vote” round (race, occupation, etc.), Hutchinson moves into the lead with 22 percent, to Halvorson’s 16. Kelly is in third at 13, Harris is in fourth at 10, Beale gets 7 and Reynolds snags 4.
* A poll taken last November for Cook County Board president Toni Preckwinkle had Halvorson in the mid twenties with Hutchinson at about 20. The other candidates scored between 6 and 11 percent in that poll. Hutchinson and Halvorson tightened up considerably after the “informed vote” round in that poll.
* The take-away here is that Halvorson may need to do more than just sit on her name ID and hope that white people get her the nomination. She may have to raise some money and actually run a decent campaign to win. Hutchinson is actively raising money, as is Kelly, and Harris has a personal stash of cash from his NFL career.
It would be smart to see where the local elections are in the south suburbs. That’ll give us an indication of where turnout might be higher. The highest undecideds are in Chicago, according to the Hutchinson poll, indicating that turnout there will be very low.
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The failure list
Tuesday, Jan 15, 2013 - Posted by Rich Miller
* Finke…
Gov. Pat Quinn wanted pension reform done in the lame-duck session. Didn’t happen.
He wanted a ban on semi-automatic assault weapons passed. Didn’t happen.
He wanted a same-sex marriage bill passed. Didn’t happen.
Hope as a kid he had better luck getting Santa Claus to listen to his wants list.
Quinn also wanted a resolution of the gaming issue, which went nowhere. He wanted to shore up the state’s capital projects fund without success. He wanted more money for DCFS frontline staff and failed. Indeed, he tried and failed to push through a supplemental appropriations bill, which is usually a “gimme” in these sorts of sessions.
He couldn’t even convince the General Assembly to change the date of his annual budget address, for crying out loud.
There was just one success: The Senate finally passed a bill that allowed Quinn to revoke the union cards of hundreds of state workers, but then made him promise to work out a deal with the union.
* Recent quote…
“I was a long-distance runner in high school,” the Democratic governor said. “What we have to do is keep running until we get to our destination and cross the finish line.”
Yeah, well, you can’t win a long distance race by meandering all over town.
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Is Joe Walsh getting a job?
Tuesday, Jan 15, 2013 - Posted by Rich Miller
* Robert Feder has the scoop…
We haven’t heard the last of tea party firebrand Joe Walsh. The one-term former GOP congressman, who was defeated for reelection last November by Democrat Tammy Duckworth, may be headed for a new career as a radio talk show host. Walsh is close to signing with WIND-AM (560), the Salem Communications conservative news/talk station, to host a Monday-through-Friday nighttime talk show. If it’s a hit, insiders said, national distribution could follow. Walsh said last month he’s been encouraged to run for Dick Durbin’s U.S. Senate seat in 2014.
No real surprise there. Walsh has appeared to be auditioning for a job in the conservative media for well over a year.
* WIND is hosting a forum in March that will feature Walsh…
With the re-election of President Obama, the path ahead during the next four years has begun to take shape. With all of the challenges facing our nation - mounting debt, increased spending, Obamacare, ongoing terrorist threats - what direction will President Obama take?
As citizens, how will our lives be affected by the decisions made in Washington in the next four years?
These are the questions that will be answered at “Obama 2.0: The Road Ahead”.
AM 560’s Steve Cochran along with Michael Medved and former Rep. Joe Walsh, will tackle these critical questions. They will attempt to bring clarity out of the confusion and provide answers to some of the many lingering questions about what the second term of Barack Obama will bring. Don’t be caught off-guard by what happens next. Be prepared to react and respond to whatever the future holds. Join AM 560 for “Obama 2.0 The Road Ahead.”
VIP tickets are $60.
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A note to subscribers
Monday, Jan 14, 2013 - Posted by Rich Miller
* My new bookkeeper is updating our contact list, so you may have received an e-mail today asking for your info. This isn’t some scam. It’s legit, so please respond. Thanks.
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Today’s numbers
Monday, Jan 14, 2013 - Posted by Rich Miller
* I’ve banned four commenters so far today.
Four.
Sheesh.
Two were over the top gun rights advocates who’d never commented here before. One was a disgusting homophobe. And the other was somebody trying to comment multiple times on the same thread using different names.
Take it easy, people.
* I’m a semi-regular at Springfield’s Butternut Hut tavern. They have a stage and are serious about hosting good music. I went last week during session and almost nobody was there. But they do have five of those new video gaming terminals. A couple of friends played briefly, one won a few bucks.
Anyway, I checked the Illinois Gaming Board’s December video gaming revenue report and noticed that $517,078 had been bet at that little bar in December alone. Half a million bucks. Wow. In that little place.
* Speaking of big things from tiny places…
In a tiny office in rural Sycamore, next to a chiropractor and an attorney, United Airlines buys billions of dollars in jet fuel.
But the jet fuel never gets anywhere near Sycamore, which is 100 miles west of Chicago.
It goes to O’Hare, and that upsets the Regional Transit Authority, which says it is out at least $96 million in lost sales taxes as a result of the actions of United and another company, American Airlines.
The RTA filed suit Monday against United and the city of Sycamore, contending United operates a “sham” office in the DeKalb County town in order to avoid higher sales taxes in Cook County.
We’ve discussed this scam several times in the past. So far, though, nothing has been done to close this loophole.
* Bulking up…
FBI records show a spike in the number of firearm background checks initiated through its National Instant Criminal Background Check System.
The figures do not represent a one-to-one correlation between background checks and firearm sales, but they do show an increased interest in qualifying to acquire firearms.
In Illinois, background checks through the FBI system increased 43 percent from October to December. A total of 1,036,061 background checks were conducted statewide in 2012, compared to 828,962 in 2011 — a 24.9 percent increase.
Nationally, Kentucky requested the most background checks with more than 2.5 million, while Hawaii initiated the fewest with 17,428.
* Other number stories…
* Shedding more light on the United Center tax break
* Why the race to succeed Jackson Jr. is a bargain
* Illinois coal production on increase, bucking national trend: Preliminary figures from the U.S. Energy Information Administration show Illinois mines produced 47 million tons of coal in 2012, the most since 1995.
* State budget cuts mean many women to wait for mammograms: More than 4,700 low-income women throughout the state, including dozens in Sangamon County, could face months-long waits for mammograms because of funding cuts to the Illinois Breast and Cervical Cancer Program.
* Medicaid’s best-selling drugs in Illinois
* A suburban gunmaker is overwhelmed with orders, for now
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Question of the day
Monday, Jan 14, 2013 - Posted by Rich Miller
* The setup…
Hollywood is coming to Chicago in April.
On Monday, Governor Pat Quinn announced that Lionsgate/Summit Entertainment will be filming the movie, “Divergent”, the film adaptation of the novel by Chicagoan Veronica Roth.
The movie production is expected to bring 1,000 jobs and more than $30 million in spending to Illinois. It is the first major Hollywood film for Cinespace Chicago Film Studios, the sound stage Governor Pat Quinn worked to attract to Illinois.
“Illinois is an ideal place for filmmakers with our skilled workforce, iconic shooting locations and one of the largest sound stages in the country,” Governor Quinn said. “The film industry is creating good jobs for Illinois electricians, welders, construction workers, actors, make-up artists, security guards and more while also fueling growth in our economy.”
* The Question: Who would play Pat Quinn in a movie about Illinois?
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Schock blasts Rauner over ads
Monday, Jan 14, 2013 - Posted by Rich Miller
* On Saturday, Congressman Aaron Schock’s chief of staff posted a diatribe against Bruce Rauner on his boss’ Facebook page…
Dear Schock Supporters,
By now most of you have heard or seen a negative ad on radio or television attacking Aaron Schock by falsely accusing him of voting to raise taxes and spending.
This blatantly false ad portrays the opposite of Congressman Schock’s strong record, which is founded on the principles of economic growth and deficit reduction.
The ad is from a previously unheard of out-of-stat…e organization (Jobs & Progress Fund) that does not disclose who is funding it.
This is all about the possibility of Aaron running for Governor in Illinois next year and that any opponent fears facing him more than any other candidate in an election–in this case, the Republican primary for Governor in March of next year.
One candidate is Bruce Rauner from Chicago. He is a billionaire financier. He has never been elected to any office. In recent years as he began to position himself to run for Governor as a Republican. Rauner has donated to many Republican candidates. However, Rauner has donated hundreds of thousands of dollars to Democrats, including hundreds of thousands of dollars to Rich Daley and Rahm Emanuel in their races for mayor of Chicago. Rauner is frequently commented on in media stories as an “advisor” to Rahm Emanuel who has “unchecked access” to the mayor’s office.
One group that Rauner helped to create and lead gave a single $100,000 contribution to Democrat State Representative Jehan Gordon in 2010. Rauner and his wife have made major donations to: the Democratic National Committee (DNC), the Democratic Congressional Campaign Committee (DCCC), the Democratic Senatorial Campaign Committee (DSCC), Emily’s List, Senator Dick Durbin, Barack Obama for U.S. Senate, John Kerry for President, Tammy Duckworth for Congress and one of the harshest left-wing members of Congress—Congresswoman Jan Schakowsky, among others.
Notice that the post doesn’t come out and say that Rauner is behind the ads, but it sure seems clear that Schock believes that to be the case.
Rauner is rumored to have budgeted $50 million for the 2014 race. He could drown his opponents in cash, but that’s been tried before and it didn’t work. Should be a lot of fun.
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Robling to Republicans: Leave Springfield
Monday, Jan 14, 2013 - Posted by Rich Miller
* Chris Robling penned an unusual op-ed for the Tribune. Robling, a former executive director of the Cook County Republican Party, wants state legislative Republicans to boycott Springfield in protest of the lack of a pension reform plan…
Walk away. Now. And issue a joint statement by Senate Republican leader Chris Radogno and House Republican leader Tom Cross: “When a serious, comprehensive Democrat pension plan is offered, members of the Republican Party will return. Until then, we protest the Democrats’ refusal to address the issue that will send Illinois across the financial brink.”
Leaving does important things. It shows voters that Republicans are serious about overhauling the pension systems. It shows them that Dems can do what they want — by themselves. It shows who is willing to address this decade’s biggest issue in Illinois, and who is grandstanding so that they may secretly serve special interests. It prevents Republicans from getting sucked into a sneaky deal. (Check with U.S. House Speaker John Boehner on that one.) […]
Deny Democrats that narrative. Deny them their foil. Deny them the appearance of “needing” you — so that they may later blame you. Deny them their evasion of responsibility. Deny them their dithering by showing it to all Illinoisans.
Congratulations, you are sworn in. Now leave.
Um, how does leaving show anyone that Republicans are serious about anything, or that the GOP is willing to address anything, or that they’re not grandstanding, or evading responsibility?
* And remember how this state’s Republicans reacted when Wisconsin’s Democratic legislators hid out in Illinois? From an Illinois GOP press release…
…it is imperative that Governor Quinn do the right thing and tell these 14 Senator from Wisconsin that Illinois will harbor them no more,” said Illinois Republican Party Chairman Pat Brady. “It time they get back to Wisconsin and back to work.
I really hope Chris was being tongue in cheek here.
Those Wisconsin legislators left their state to prevent legislation from being passed. That at least made some sense because of parliamentary realities. Robling’s idea, however, is another matter entirely. Leave until something happens? Huh? What would be the point of ever voting for a Republican if they publicly cede all of their responsibilities?
And, actually, the House won’t be back until January 30th and the Senate isn’t returning until February 5th. So they’re already gone.
Maybe the Republicans ought to come to Springfield and work while the Democrats are back in their districts. That would show far more seriousness than some boycott.
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Quinn will veto gaming bill
Monday, Jan 14, 2013 - Posted by Rich Miller
* As if there was ever any doubt, Gov. Pat Quinn will veto the gaming bill that was finally released last week from a parliamentary hold…
On Oct. 17, 2011, Quinn announced that if Cullerton ever did send him the 2011 bill, he would veto it. So the bill sat, until last week. At the end of the expiring General Assembly, Cullerton cleared off his desk and sent the measure to Quinn. And on Friday, Quinn spokeswoman Brooke Anderson assured us that the governor will follow through on his 2011 threat.
* Meanwhile, I’m not so sure this smoking ban explanation is correct…
According to a year-end report issued by the Illinois Gaming Board, [casino] revenue for the 2012 calendar year was $1.6 billion, which was up slightly from 2011, but down by about 38 percent from 2007.
Tom Swoik, director of the Illinois Casino Gaming Association, which represents the Metropolis casino, Harrah’s, said that the 2007 smoking ban and an economy that took a turn for the worst are two reasons for the dip.
“Once the economy starts improving, I think that casino revenues will pick up,” Swoik said. “I think it will be a long time if ever that we get back to the 2007 figures because they’re not going to change the smoking ban.”
“All of the bordering states that have casinos do not have a smoking ban, so we lost about 20 percent in 2008, and we’ve lost an additional 18 or 19 percent on top of that since then just because of the economy,” Swoik added.
* It turns out, things are tough all over, despite casinos allowing smoking. For instance…
Revenues at Northwest Indiana’s five casinos dropped by $24.3 million in 2012, the second straight year of decline with the state of Indiana predicting more declines ahead.
The five Northwest Indiana casinos raked in $1.11 billion total in 2012, as compared to $1.13 billion in 2011, for a 2.1 percent drop overall, according to a tally by The Times of Indiana Gaming Commission monthly revenue reports. That drop compares with a 5.5 percent drop statewide in 2011.
And…
All but one of the St. Louis area’s six casinos experienced revenue declines in December.
Pinnacle Entertainment’s River City Casino, in Lemay, received 3 percent more from gamblers last month than it did in December 2011. But that was the only growth among the area’s casinos, according to figures released Thursday by state regulators.
Winnings fell slightly at Lumière Place, Pinnacle’s other casino in the St. Louis market.
The biggest drop took place at Hollywood Casino, which changed hands late last year. Penn National Gaming paid Caesars Entertainment $610 million for the casino and adjoining hotel in Maryland Heights.
And…
Nevada gaming revenues took a nosedive in November.
Statewide, casinos collected $782.6 million from gamblers during the month, a drop of almost 11.1 percent compared with $880.1 million collected in November 2011.
On the Strip, gaming revenues fell 12.8 percent with casinos collecting $431.8 million from customers, compared with $495.2 million collected a year ago.
The Gaming Control Board released the November numbers this morning.
Clark County gaming revenues as a whole fell 13 percent as every reporting area showed year-over-year monthly declines. Casinos along the Boulder Strip reported a 26 percent decline in gaming revenues while revenues were off 24 percent in North Las Vegas.
Downtown Las Vegas gaming revenues declined 17.2 percent.
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Scratching my head
Monday, Jan 14, 2013 - Posted by Rich Miller
* Look, I don’t think that the proponents of the soon to be law that allows undocumented immigrants to obtain driver’s permits are right about every point. But, I’ve been scratching my head about this line of opposition…
State Rep. Elizabeth Hernandez, D-Cicero, who sponsored the bill, asserts it will make Illinois’ roads safer and save lives.
We would say that’s highly debatable. What evidence does Hernandez cite to indicate that illegal immigrants with driver’s licenses are safer drivers than those without them? Simply having a driver’s license is no guarantee that a motorist will obey traffic laws or maintain sobriety while operating a vehicle. Don’t thousands of licensed drivers break those laws and drive under the influence each year?
Apparently, the Alton Telegraph editorial board doesn’t believe that driver’s licenses are worth the plastic they’re wrapped in. I eagerly await the paper’s next editorial advocating the abolishment of all driver’s licenses as a waste of time and money, since obviously they don’t work to prevent automobile accidents.
* And then there’s this…
We agree with opponents of this measure who argued that a driver’s license is a privilege, not a right, and that giving illegal immigrants the privilege to drive in Illinois legally when they broke our laws by coming here is bad public policy.
So, I suppose, then, that people who have not yet completed their parole should be denied driver’s licenses as well? How about we forever revoke driver’s licenses from anybody who has ever broken any laws?
Again, I’m not wholly in agreement with every single argument made by the proponents. But these two arguments by the Telegraph just seem like a major reach to arrive at a predetermined position.
* By the way, this is something else that Rep. Hernandez said during debate…
State Rep. Elizabeth Hernandez (D-Cicero) said it goes beyond simply road safety and touches on a fundamental fairness - so that if an immigrant parent taking a sick child to the doctor, they can’t be humiliated and sanctioned by the state for not being a licensed driver.
“When you have children with Down Syndrome left at the curb witnessing their parents being arrested, handcuffed and their car being impounded…that’s disgusting,” she said. “That’s distrurbing. This cannot continue.”
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What does Madigan want?
Monday, Jan 14, 2013 - Posted by Rich Miller
* My weekly syndicated newspaper column…
“Frankly, I’m not sure they want it,” Illinois Senate Minority Leader Christine Radogno (R-Lemont) said Tuesday about Democratic legislative leaders and state pension reform.
It sure looked liked she was right last week, at least in the House, where Speaker Michael Madigan (D-Chicago) barely lifted a finger for any of the pension reform bills that were on the table.
His top aides insist that Madigan does want pension reform. Madigan has said he wants a bill to pass. So, what will it take to get him off the dime and start pushing for a solution?
Madigan’s members almost always take their cues from their leader on the big stuff. When he says “this is the bill I want right now,” they tend to go along. Until they get that message, House Democrats hold back and wait.
For his part, the conservative Madigan doesn’t usually get too far ahead of his members. He polls his caucus regularly, and if he sees major resistance to an issue, he’s almost always reluctant to push it. Unlike Gov. Pat Quinn, Madigan understands that defeat makes you look weak, and Madigan is obsessed with projecting an image of power.
And sometimes, especially when Madigan wants something big, he’s willing to wait and wait, and then wait some more, until the time is right before he makes his move.
So, let’s take him at his word that he realized the need for pension reform. What’s he waiting for?
The most obvious answer is the pension payment cost shift, which he strongly favors along with Senate President John Cullerton (D-Chicago) and Chicago Mayor Rahm Emanuel.
The controversial plan would shift pension bills for suburban and downstate teachers from the state to local school districts, forcing districts to be much more cautious in granting pay raises that lead to bigger pensions.
Republicans and plenty of suburban and downstate Democrats oppose the cost shift, claiming it would lead to substantial property tax increases because the public schools are largely financed via that tax. Chicago has a separate teachers retirement system, which is why Emanuel supports the idea.
But proponents of the cost shift point to a recent pension plan as having a workable framework. That proposal would raise the employer’s pension costs by half a percentage point of payroll per year. If school districts and universities can’t absorb such an increase each year without a big tax or tuition hike, proponents say, then they need to send their leaders back to management school.
When Madigan dropped the cost shift as a “must have” in the days leading up to the recent lame-duck session, Quinn trumpeted the move as a major breakthrough that would lead to a pension reform deal.
But the lame-duck session turned out to be very much like last May, when Madigan agreed to back off the cost shift and handed a pension bill to House Minority Leader Tom Cross (R-Oswego). Quinn also hailed that decision as progress, but Madigan’s members quickly realized that no Madigan sponsorship meant no Madigan support, and the bill crashed and burned.
So, how the heck is this cost-shift thing ever going to pass? If the Republicans and lots of members are against it, fearing a voter revolt over higher tax bills, how does Madigan find the votes and persuade the GOP to climb aboard?
Madigan’s people won’t say, but a major crisis would be the most obvious avenue.
If the state’s credit rating is seriously downgraded, tons of pressure will be put on the General Assembly to act and restore some credibility to state finances. The Republicans might be more willing to sign on if their nervous big-business allies/donors insist that they participate in a solution.
Barring that, the only other way forward in the interim might be to do some small things toward pension reform that Madigan’s caucus could agree to. But even that might not go anywhere if Madigan decides to continue withholding support until he reaches his ultimate goal.
* Related…
* As pension debt climbs in Illinois, other programs suffer
* Finke: Quinn wish list goes unfulfilled
* Erickson: Illinois inching toward edge of big cliff
* Editorial: Newly minted assembly should focus on jobs
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* Mayor Emanuel wants divestment…
Chicago Mayor Rahm Emanuel said Monday he was ordering all city pension funds to divest any investments they have in gun manufacturers.
“We’re going to divest of any investment in any gun manufacturer,” he said.
He said he would lead a charge of mayors across the country urging them to do the same.
* But despite his comments today, his press release only says it’s about assault weapons..,
MAYOR EMANUEL ORDERS REVIEW OF PENSION AND RETIREMENT FUNDS FOR DIVESTMENT OF ASSAULT WEAPON COMPANIES
Funds Will Be Asked To Divest From Companies that Manufacture or Sell Assault Weapons
Mayor Rahm Emanuel today ordered Comptroller Amer Ahmad to request a portfolio analysis from the five pension and retirement funds for city employees to determine if fund managers hold underlying debt or equity positions in companies that manufacture or sell assault weapons as the first step towards removing these companies from the investment plans.
“We cannot support or invest in companies that profit from the proliferation of assault weapons and the violence these guns bring to our communities,” said Mayor Emanuel. “If our fund managers have invested in a company that manufactures or sells assault weapons, I will ask them to remove these investments from our retirement funds.”
Ahmad is requesting the review from the five major funds, including the Fireman’s Annuity & Benefit Fund of Chicago, the Laborers’ & Retirement Board Employees’ Annuity and Benefit Fund of Chicago, Municipal Employees’ Annuity & Benefit Fund of Chicago, Policeman’s Annuity & Benefit Fund of Chicago and the City of Chicago Deferred Compensation Plan. The five funds contain more than $13.5 billion in assets.
Will Burns, Alderman of the 4th Ward, will join the Mayor to introduce a resolution at City Council this week to support the review.
“Just as these weapons have no place in our communities, these companies have no place in the retirement planning for our employees,” said Burns. “The damage caused by these weapons is far greater than any return on investment.”
He may have gone beyond his intended remarks. We’ll see.
*** UPDATE *** He did go beyond what he intended to say…
In his speech, Emanuel said, “We’re going to divest of any investment in any gun manufacturer,” but he later clarified that he was talking about those who make or sell assault weapons.
[ *** End Of Update *** ]
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