Morning Shorts
Friday, Feb 6, 2009 - Posted by Mike Murray
* Economic analysis shows city’s long term, privatized parking deal gave up future millions for cash now
The complex agreement, the first of its kind in the United States, nets the city a one-time cash payment of nearly $1.2 billion when the deal is closed this month.
But the city could have earned $1.5 billion—in today’s dollars—if it kept the meters and simply raised rates to the same levels it granted the winning bidder, according to H. Woods Bowman, a professor of public service at DePaul University. That’s nearly $300 million more than Chicago Parking Meters, a limited liability corporation formed by Morgan Stanley to operate the meters, will pay upfront, Bowman said.
* Daley reversal: City workers aren’t clock-watchers
* Canadian National Railroad Debate Rages On
For much of the last year, the controversial sale of a rail line that runs through the Chicago region has pitted communities against each other. The debate is all about rail traffic congestion and the price tag that comes with it, a cost cities and suburbs are clamoring to avoid. The deal that finalized Canadian National’s bid to buy the EJ&E line was inked last weekend. But it still faces resistance.
* Chicago’s museums try to ride out bucking economy
* More Wal-Marts may be in Chicago’s future
Citing the need for new investment to boost the sagging local economy, Wal-Mart is preparing a new push for approval of as many as five new stores in Chicago, sources said today.
* Hispanic Community’s Power-Play For City Jobs
Hispanic activists on Thursday demanded a bigger share of city jobs and contracts.
Although they vowed to boycott city-sponsored leadership events, they accepted Mayor Richard M. Daley’s invitation to discuss their grievances face-to-face.
* Horse-drawn carriage firms say business is suffering
They blame Chicago regulations, cold as some companies go out of business
* Pink slips stack up as recession drags on
With employers in no mood to hire, the unemployment rate is expected to jump to 7.5 percent in January from 7.2 percent in December, according to economists’ forecasts. If they are right, that would mark the highest jobless rate in 17 years.
And after suffering heavy job losses last year, the country probably lost another 524,000 jobs month, getting the new year off to a rotten start. Some think the number of jobs reductions in January will be higher - 600,000 or 700,000.
* Danville mayor hopes to maintain services amid job cuts
After announcing Tuesday night that 24 of the city’s total 267 positions will be eliminated beginning Feb. 27, the mayor said challenges are still ahead as police and fire pensions continue to rise along with health insurance premiums and the cost of road-repair materials and utilities.
* Rantoul plant lays off 600 workers
* New mortgage fee matrix real doozy
* Statue commemorating race riot to be unveiled
* Potholes keep digging in
* Potholes set to launch offensive with warmer weather
* Courthouse to be named after retired judge
U.S. Sen. Dick Durbin introduced legislation today to name the new federal courthouse in downtown Rockford for retired U.S. District Court Judge Stanley J. Roszkowski.
* Courthouse name a worthy tribute to respected judge
* Cicero Town President runs unopposed — for now
* Assessor: Firings not my fault
Embattled Township Assessor Sharon Eckersall defended herself Monday night against allegations that lawsuits brought against her in firing past deputy assessors have cost the taxpayers hundreds of thousands of dollars.
* Cook Co. township candidate filings
* Schock and Pastor Timothy Criss attend Prayer Breakfast
* PJ Star: Burris hasn’t made it easy to get in touch