WirePoints: A Galling Boast in Chicago’s Bond Pitch: Haves Replacing Have Nots – WP Original
One particular piece of boasting in the offering materials** for Chicago’s upcoming bond sale caught my attention. No, it wasn’t any of the silly ones like “stable population and business base” or “proven record of implementing reforms.” And, no, it wasn’t any of the honest ones like “commitment to raising revenues.”
It was this one: “gaining high income households rapidly, rising median family income.” That seems harmless on its face, but what’s it really saying? Let’s think about it remembering that the city’s population is declining and factor in some other recent news. It’s not something self-styled champions of the poor and middle class — our political establishment — should be boasting about.
First, the basic claim appears true. Median household income has risen in Chicago, though it depends on what period you look at and the increase isn’t matching national averages. CMAP (the Chicago Metropolitan Agency for Planning) published a nice study on that last month for the whole region, looking at data from 2005 to 20014. The results are reflected in the map on the right, where Chicago and other areas with income growth are in green and losers are in blue
QC Online: Forfeiture law means woman paying for grandson's crime
The word “forfeiture” didn’t mean much to Judy Wiese before her only vehicle — a 2009 Jeep Compass — was seized by police while she slept the night of Aug. 31.
Now, the 70-year-old Moline woman is getting a crash course in Illinois’ complicated civil asset forfeiture laws as she tries, without success so far, to get her vehicle returned.
Justification for the seizure is that the vehicle was used in the commission of a crime — Ms. Wiese’s grandson was caught driving it while his license was revoked. She said she lent it to him to drive to work after he assured her he had taken care of all his court obligations after a 2014 DUI conviction in Rock Island County.
Daily Herald: Naperville mayor forges full steam -- and full-time -- ahead
A big, significant responsibility. His responsibility.
“I went into it with eyes wide open,” Chirico said during his eighth month on the job since being elected last April. “I knew it was going to require full-time to get the job done to meet my expectations.”
Chirico expected to address financial concerns and prioritize economic development. He expected to engage former Mayor George Pradel as a continued community presence, but to do things his own way.
Reuters: Chicago, Brooklyn seen leading race for possible "El Chapo" trial
Chicago and Brooklyn, New York are leading contenders to host the first U.S. trial of drug lord Joaquin “El Chapo” Guzman Loera if he is extradited from Mexico, say former U.S. law enforcement officials, as several jurisdictions vie for what would be one of the most high profile U.S. criminal trials in years.
The trial venue, which will ultimately be decided by the U.S. attorney general, currently Loretta Lynch, is important because it will determine the specific charges that Guzman faces and the strength of the case against the world’s top drug lord.
Mexico recaptured Guzman in a pre-dawn shootout on Friday, and Mexican officials have indicated they are willing to comply with a U.S. request for his extradition.
New York Times: Ratings Agencies Still Coming Up Short, Years After Crisis
The mistakes that led to the 2008 mortgage crisis can’t happen again, right?
Not so fast, particularly if you’re talking about credit ratings agencies like Moody’s Investors Service and Standard & Poor’s. Eight years after these companies were found to have put profits ahead of principle when they assigned high grades to low-quality debt securities, some of the same dubious practices continue to infect their operations. That’s the message in the most recent regulatory report on the companies from the Securities and Exchange Commission.
The credit ratings agencies played an enormous role in generating billions of dollars in losses during the debacle. Internal emails that emerged in congressional investigations were especially revealing of the problems at these companies. “We rate every deal,” one Standard & Poor’s employee famously wrote. “It could be structured by cows and we would rate it.”
BND: Illinois population trend could lead to one fewer congressional seat for state Census estimates Illinois population dropped by 22,000 people from 2014 to 2015
For the second year in a row, the U.S. Census Bureau is estimating Illinois’ population decreased, a trend that could lead to the state losing a congressional seat.
In U.S. Cesus Bureau estimates released last month, Illinois’ population decreased by 22,000 people from 2014 to 2015. Because of the estimated drop, Election Data Services, a Virginia-based political consulting firm, projects Illinois will lose a representative in the U.S. House of Representatives.
The census bureau uses birth and death certificates, as well as address changes on tax returns to estimate population between the decennial population counts.
Illinois is one of nine states that could lose a representative in Congress. According to Election Data Services, Alabama, Michigan, Minnesota, New York, Ohio, Pennsylvania, Rhode Island and West Virginia also could lose a seat.
Chicago Sun Times: Emanuel wants $6M tobacco tax for school programs
Mayor Rahm Emanuel wants to slap a $6 million tax on cigars, roll-your-own tobacco and smokeless tobacco to pay for a one-week summer transition program for all incoming high school freshmen and two weeks of summer school for eighth-graders identified as drop-out risks — even as the district braces for mass cuts to existing programs and staff.
Supporting freshmen while they are making a traumatic transition from nurturing grade schools to large high schools has long been a focus of the Chicago Public Schools. But the “Freshman Connection” high school programs, which begin this summer, have been limited to selective enrollment schools.
Emanuel’s plan would expand the one-week orientation program to all 20,000 incoming high school freshmen. The program will be modeled after the one pioneered by Walter Payton College Prep, the No. 1 high school in the state. Janice Jackson, CPS’ top academic officer, said students will do typical orientation activities — like learn where things are in their new schools.