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* Teacher pension system cuts off firm with Cellini ties

The state teacher’s pension system will no longer do business with an investment firm tied to recently indicted political powerbroker William Cellini.

Today’s decision by the board of the Teacher’s Retirement System to drop Commonwealth Realty Advisors from its portfolio was “an investment strategy decision,” said an agency spokeswoman.

Commonwealth managed $1.2 billion in nationwide retail development investments for TRS.

That contract instead was awarded to another company, Heitman, which deals in real estate.

* Doctors group rips U. of C. hospital

* ER doctors condemn University of Chicago plan to divert patients

* Teen Pregnancies Spike Drop Out Rate

* Latest round of layoffs pummels steel plant

The company that laid off 1,600 steel workers when it idled its Granite City plant in December says it’s handing out pink slips to most of those who remained on the job.

United States Steel Corp. spokesman John Armstrong says the majority of the nearly 400 workers still at the Granite City Works plant will be laid off within the next three weeks.

* Less demand, more layoffs at U.S. Steel

About 390 union and nonunion workers soon will join more than 1,600 workers who were already laid off from the steel mill in December. The move virtually shuts down the remaining operations at the mill.

* Midwest bankers economic index hits record low

* Economic decline slows school growth

* Pass capital bill, RTA urges

* RTA raises possibility of fare hikes, service cuts in light of CTA budget shortfall

* CTA takes accordion-style buses off the streets over safety issues

* CTA emergency bus inspections will cause delays

* 130 high-end restaurants join dining stimulus plan

* Sales taxes count, even in cyberspace

* Illinoisans are assured refunds will be on time

* DCFS reports cluster of child suicides

According to DCFS, seven children committed suicide in Illinois between 2002 and 2006, the most recent period for which data is available.

* No-meter house also broke sprinkler rules

* Will scandals sabotage our bid?

* Chicago’s Olympic Plan Gives Hints About Traffic Congestion, Transit Improvements

Among the many details in Chicago’s 534-page Olympic bid book…is the city’s plan for moving spectators and athletes during the games. Some residents say it also provides a pretty good clue about the difficulties they’ll have getting around, if the city wins the bid.

* County commissioners rebuke Stroger on tardy campaign filings

In a rebuke of Cook County Board President Todd Stroger, commissioners are calling for harsher penalties to be imposed on politicians who don’t meet state deadlines for disclosing their campaigns’ donors and expenses.

The resolution, which called on the General Assembly to change campaign finance laws, was approved 9-2 on Wednesday, with three usual Stroger allies supporting the measure. Three other Stroger supporters voted present.

Commissioners Forrest Claypool and Mike Quigley, both Chicago Democrats, proposed the measure in response to a Tribune story about how Stroger’s campaign last month finally gave a detailed account of what he raised and spent since he first sought his current post in early 2006. The records showed he failed to report $733,000 in political donations by the deadlines set in state law.

* Homeless Oak Park man fights for spot on ballot

* Homeless candidate seeking court help to get back on ballot

* Two candidates returned to Cicero mayoral ballot

* Local electoral boards make mockery of election rules

* Alvarez to introduce legislation to expand her office’s pursuit of public corruption

* Conceal information and go to prison

posted by Mike Murray
Friday, Feb 20, 09 @ 9:32 am

Comments

What are the odds that the GA would give states attorneys the power to make covert recordings for public corruption cases? Yeah, that’s what I thought.

Comment by wordslinger Friday, Feb 20, 09 @ 10:01 am
I see Phil Kadner and I agree on jail time for FOIA cases. He raises an interesting point about states atrtorneys skirting public corruption issues. It will be interesting to see if Schmidt falls into step with the trend of side stepping or instead agrresivley pursues an action against Burris.

Bill Clintons case showed us that splitting hairs is not always a succesful argument. IMHO Schmidt has enough to prosecute, let a jury decide if the distinction Burris is trying to draw is real or a sham designed to cover up perjury.

Comment by Ghost Friday, Feb 20, 09 @ 10:23 am
We don’t need more anti-corruption laws. We have enough laws, but we don’t have enough politicians who obey them. We need more prosecutors and police officers who will enforce the current laws.

Comment by ConservativeVeteran Friday, Feb 20, 09 @ 10:48 am
DCFS is not the state mental health agency, so, given their many internal problems, including a long list of children who died in recent years at the hands of their caretakers, despite active or recent DCFS involvement, it’s not clear why they are speaking out as state authorities on the issue of child suicide. We presume none of these tragic young victims were DCFS wards.

Perhaps the state mental health agency, another heavily politicized Blagojevich jobs farm, is too consumed with saving patronage jobs to address this issue so the job falls to DCFS. In any case, the quality and quantity of reasonably priced mental health services for children is a critical component in preventing child suicide. Whether or not the state mental health agency is competent to provide these services, or ensure their provision,
is an open question.

Comment by Cassandra Friday, Feb 20, 09 @ 11:02 am
This country is needing investment in US business and infrastructure and TRS selects an investment manager that is pushing eastern european/asian investments?

Comment by Silverback Friday, Feb 20, 09 @ 11:51 am
The ruling in the Cicero case (which was expected) has struck fear in the heart of the campaign of embattled incumbent Town President Larry Dominick. Roberto Garcia and his Cicero Equality Committee ticket (CEC) should now be considered the favorites Tuesday in a town where the Hispanic population is estimated at 85-88%, and where Barack Obama got over 78% of the vote in November.

However, this does not mean that Dominick and his cohorts won’t try to do whatever dirty stunt that they can get away with over the next four days. The CEC needs volunteers to help stand up to Dominick & Co. and put an end to 85 years of corruption in Cicero.

There is a particular need for lawyers to be on hand at the polling places for the 49 precincts in Cicero on Tuesday. Please check out http://www.cec2009.com/ for further details.

Comment by fedup dem Friday, Feb 20, 09 @ 12:59 pm
Silverback, the TRS has a very diversified portfolio of international as well as national investments. There are lots of national investments and real estate properties, etc., in that portfolio. These are unusual times for sure but that does not mean putting all your eggs in one basket.

Comment by Nearly Normal Friday, Feb 20, 09 @ 2:29 pm
Nearly Normal, agree with your theory of divesification however these are unusual times. I stand by my belief that when the future of your country is at stake you do everything you can to preserve it.

Comment by Silverback Friday, Feb 20, 09 @ 4:13 pm
Also if you go to there website it would appear a strong bias toward eastern europe/asia investments.

Comment by Silverback Friday, Feb 20, 09 @ 4:16 pm
Those retired teachers must be a bunch of Commies, eh, Silverback?

Knucklehead.

BTW, “There” website shows no document, graph, or chart that could lead an impartial observer to that conclusion.

When the future of one’s country is at stake, it’s especially important to stand by a disciplined, diversified, long term investment plan.

Would you rather see retirees’ pension funds be invested in one of Mayor Daley’s “infrastructure” deals? Parking meters?

Comment by Arthur Andersen Friday, Feb 20, 09 @ 5:27 pm
What the Daily Southtown Star fails to mention is the Cook County Officers Electoral Board is notoriously slow in terms of processing its caseload. Delegating all electoral cases to David Orr’s office is unlikely to be an improvement. The current law provides for the court ordered appointment of public members of electoral boards. This is the better way to go.

Comment by Anonymous Monday, Feb 23, 09 @ 12:22 am