Subscribe to Capitol Fax      Advertise Here     Contact Rich Miller
To subscribe to Capitol Fax, click here. Subscriptions are $350 per year. To advertise on the Capitol Fax Blog, please click here.
Morning Shorts

Tuesday, Apr 21, 2009

* Sun-Times lost 140 workers in latest layoffs

* Experts: Homebuilding market has changed

* Daley’s $2.5 billion plan to privatize Midway Airport grounded

Mayor Daley’s $2.5 billion plan to privatize Midway Airport collapsed today for lack of financing, leaving taxpayers with a $126 million down payment, but no apparent way to shore up city pensions and rebuild Chicago’s aging infrastructure.

But, over the weekend, MidCo informed the city that it would be unable to raise the money. Instead, the consortium comprised of New York’s Citi Infrastructure Investors, YVR Airport Services Limited of Vancouver and Boston-based John Hancock Life Insurance walked away from the $126 million in earnest money it pledged.

* Midway meltdown bad news for Daley

But the bigger truth is, the city is out more than $2 billion, money that would have gone to retire debt, replenish way-underfunded employee pension funds, pay for capital projects for the 2016 Olympics, and other needs.

It’s gone. Adios. Au revoir. The $1 billion or so the city would have netted after retiring existing debt on Midway ain’t here no more.

* Deal to privatize Midway collapses

* Midway Airport Privatization Deal Collapses

* Daley won’t use rainy day fund to avoid layoffs

At a City Hall news conference today, the Service Employees International Union maintained that Chicago has a $2.1 billion surplus — from tax-increment financing and by leasing the Skyway, parking meters and other assets — and should use that one-time windfall to avert layoffs and service cuts.

To bolster its case, the union revealed results of a new poll that shows voter discontent with city services and demand for “more transparency and accountability” in city finances. The union was joined by community leaders and a handful of progressive aldermen.

Denise Dixon, executive director of Action NOW, noted that the city created “rainy day funds” when Chicago parking meters were sold for $1.2 billion and the Chicago Skyway was leased for $1.83 billion.

“It’s a rainy day, but there’s a flood coming. And when the flood comes, that’s what we’re concerned about,” the mayor told reporters.

* Time for TIF sunshine

Talk about a no-brainer. Two Chicago aldermen think the public ought to know what’s going on with hundreds of millions of dollars in off-the-books property tax spending. Ald. Manny Flores (1st) and Scott Waguespack (32nd) have been trying for months to get their colleagues on the City Council to pass an ordinance requiring the city to post the details of its tax increment financing deals online.

Flores and Waguespack aren’t trying to shut down the TIF districts, which generated $550 million for the city in 2007. What they’re worried about is accountability. Because there’s so little oversight of TIF spending, those millions are basically a glorified slush fund for Mayor Richard Daley’s pet projects.

* Chicago Park District board urged to repeal Art Institute admission hike

* Art Institute of Chicago: As fee hike looms, alderman pressures Art Institute to repeal increase and give Chicago residents a discount

* Original Reese building to be saved, city says

* City: Gropius buildings to come down as part of Olympic Village plans

* Patrick Fitzgerald testifies in witness protection leak

* FBI chief: Deputy talked to friend with mob ties

* Reform-minded pol to take Emanuel’s US House seat

* Biographical information for US Rep.-elect Mike Quigley

* Under pressure: Parties aim to push their opponents into early retirement

This cycle, top Democratic targets for retirement include Reps. Henry Brown Jr. (R-S.C.), Judy Biggert (R-Ill.), Ginny Brown-Waite (R-Fla.), John McHugh (R-N.Y.), Mary Bono Mack (R-Calif.), John Mica (R-Fla.), Elton Gallegly (R-Calif.) and Don Manzullo (R-Ill.).

* Jesse White: Cleaning up organ donation misconceptions

* With your help, life can go on; sign up as donor

* Temps could rise 40 degrees by Friday

* Islands coming to the Illinois River

* Chicago Play Wins Pulitzer

- posted by Mike Murray


9 Comments
  1. - Pat collins - Tuesday, Apr 21, 09 @ 9:48 am:

    Let them target Manzullo all they want. No way they take that seat :)


  2. - VanillaMan - Tuesday, Apr 21, 09 @ 10:06 am:

    Chicago Sun-Times Going Out Of Business Sale Starts Today!

    With arms overloaded with everything from Mike Royko’s trash can to unwon Chicago Innovation Awards to Bob Novak’s coffee cup, Chicago residents shopped in droves on the first day of a blowout liquidation sale at the Chicago Sun-Times, even as some lamented the end of the iconic native Chicago newspaper.

    “They hope to raise enough cash to cover my last month’s paycheck”, stated Roger Ebert, “the Sun-Times asked if they could have my Star Wars collectibles for today’s liquidation sale, but I had to turn them down since they are worth more than the printing presses.” Ebert started with the paper in 1967, and expressed sadness at the throngs of happy shoppers rummaging through the Sun-Time’s stockpile of restroom supplies.

    “It breaks my (bleepin’) heart”, said Ex-Governor Rod Blagojevich, “Patty and I were believe it was Rich Miller’s columns that took this great paper down. During my administration the Sun-Times thrived, but once they started attacking me and the work I was doing for the hard-working workers of Illinois, they lost money and credibility.”

    As thousands of shoppers hunted for prized Sun-Times memorabilia, 12-year-old Chicagoan Taylor Rooker was spotted with a framed historic Sun-Times front page of the 2005 World Series White Sox win. “My dad told me that people used to read the newspapers everyday, back when there was no Wii, no Blackberries, no laptops, no Kindles, and like, nothing but paper. So I’ll hang this on my bedroom wall so that my kids can see what a newspaper looked like.”


  3. - tuesdays are ok - Tuesday, Apr 21, 09 @ 10:49 am:

    TIF issues/abuses should be explored more often by journalists. Check out www.fixwilsonyard.org for the latest TIF attack in Uptown.


  4. - Capital Bill - Tuesday, Apr 21, 09 @ 12:17 pm:

    Let Daley have a Chicago casino so he can stop selling the city’s assets.


  5. - Phineas J. Whoopee - Tuesday, Apr 21, 09 @ 1:53 pm:

    Ha, when I first heard this story of the Midway deal collapsing but Daley’s stooge saying-don’t worry we get to keep 126 mil, I said to myself, what a bunch of BS. There is no way somebody’s gonna give Daley that money for nothin’and sure enough it was all BS.

    Why do people in the news media buy this guys sucker stories? This was a dismal failure on par with his parking meter fiasco. The guy should be run out of town.


  6. - wordslinger - Tuesday, Apr 21, 09 @ 3:32 pm:

    There’s no private financing out there now. Isn’t private financing supposed to build Peotone, as well? That $100 million should be the first cut in Quinn’s proposed budget.


  7. - NoGiftsPlease - Tuesday, Apr 21, 09 @ 6:51 pm:

    I’ve been watching the Federal Register for the final determination on allowing Midway to privatize. I didn’t see where the feds ever ok’d the deal, either. They had comments due in December I think. What happened on that side?


  8. - markg8 - Tuesday, Apr 21, 09 @ 8:34 pm:

    Biggert’s got to go. She was on Don Roma’s WLS radio show in February where they played a clip from a congressional hearing the day before. A Dem congressman was rightfully railing at the Citicorp CEO who was providing non answers to his questions about the number of SIVs Citicorp owned. Much guffawing by Wade, Roma.and Biggert, with Biggert adding “oh he’s just venting”. It all stopped when Roma asked Judy “What’s a SIV anyway?” Judy’s response? “Oh I don’t know.” It was like “What are you asking me for? I’m a girl!” They quickly moved on.

    10 years on the Financial Services Committee and all she’s done is spout Heritage Foundation and Club for Growth nonsense while financial bubbles grew ever larger and finally this one blew up in all our faces. She may be a fine real estate lawyer but she has no business being in congress.

    On top of that she’s a world class hypocrite. Constantly complaining about government spending she never misses a beat when it comes to cutting a ribbon for for pork. She was in Bolingbrook over the weekend taking credit for all the small business money she voted against that Obama’s making available in the stimulus plan.


  9. - steve schnorf - Tuesday, Apr 21, 09 @ 10:56 pm:

    If they all were a sgood as Biggert, our Congress would be a better place


Sorry, comments for this post are now closed.


ON THE BLOG TODAY...
* This just in... No delay in Blagojevich trial
* Question of the day
* *** UPDATED x1 *** Raw videos of Madigan, Quinn and Cullerton
* Blog commenter wisdom
* Statehouse roundup
* Kirk: On the way to making Obama a one-termer
* Morning Shorts
* Morning video - Noonan shaves his head for charity
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
** Yesterday's blog posts

Support The Capitol Fax Blog
Visit our advertisers...

Search This Blog...

Search the 96th General Assembly By Bill Number
(example: HB0001)

Search the 96th General Assembly By Keyword

Quick Links


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Polls

Archives
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress
 

  
  » WordPress For BlackBerry 1.1 Now Available With Lots Of New Features
  » Google developer takes on Apple
  » Review: Melatonin for iPhone
  » Apple lets iPhone developers schedule sales
  » Nexus One to call on Sprint too

502 Bad Gateway

The server returned an invalid or incomplete response.

502 Bad Gateway

The server returned an invalid or incomplete response.

 
     


  » Illinois Senate Candidate Mines Health Care Opposi....
  » Puerto Ricans here need new birth certificates - B....
  » Illinois budget crisis sharpens - World Socialist ....
  » Blunt, Carnahan campaign against the powers that b....
  » Obama Skirts Illinois Visits So Far as Democrats B....
  » GOP uses 'people' strategy in bid to grab Obama se....
  » Health Care Debate: It Would 'Cripple' Ill., State....
  » US consumer protection proposals attacked - Financ....
  » Quinn signs bill to change date of state primary -....
  » Trade show organizers meet with McCormick Place's ....


  » Chicago terror suspected expected to plead guilty
  » Grants available for children's medical expenses
  » New breast cancer study has Illinois connections
  » Proposal to make Ill. historic site national park
  » Cook County clerks likes new primary date
  » Quinn plans to sign bill moving primary to March
  » Blagojevich's trial date to stand, judge rules
  » Kraft to cut salt in food by an average of 10% by 2012
  » Federal Signal to combine units in new division
  » Boeing must update 777's software: FAA

  » New bleachers sign to net Cubs more than $2 million
  » Limited live early round coverage of Woods at Masters
  » Huron Consulting elects new non-exec chairman
  » Navistar gets ratings upgrade from Fitch
  » Trade show organizers meet with McCormick Place's labor leaders


  » Metra releases video of woman, godchild killed by train
  » Cardinal pushing sainthood for first black Catholic priest
  » Hedge fund whose manager faces fraud charges will get back 40 percent of losses
  » Cubs want OK for illuminated Toyota sign at Wrigley Field
  » Strict guidelines for students seeking to be 'principal's pick'
  » Girl, 7, critically injured in Southeast Side shooting
  » Priest accused of sex abuse collapses in court
  » Ind. man jailed in crash that killed construction worker
  » Woman charged with murder collapses after bail set at $3M
  » Minnesota man caught in Chicago after selling wife for sex


  » Semitrailer crashes, spills honey on highway
  » Car chased by Chicago cops crashes; 3 hurt
  » Dolton man dies of gunshot wounds
  » Man shot dead in Burnside neighorhood
  » Fetal remains found in hospital's laundry
  » Parking space gets its own census form
  » Dead man's watch stolen by host, suit says
  » Antioch high school graduate killed in Iraq
  » Wounded veterans heed call for help
  » Frank Lloyd Wright house for sale


  » Aging Gays and Lesbians Face Unique Challenges
  » Cubs Push for New Corporate Logo at Wrigley
  » Judge: Blagojevich Trial Won't Be Delayed
  » Sebelius in Chicago to Rally Support of Health Care Bill
  » Inside and Out: The Mission and the Money of the Department of Juvenile Justice
  » Reports: Daley Questioned By FBI
  » Chicago Police Defend Use of Taser on Chicago Public School Student
  » Chicago Unemployment Rate Increases
  » Blagojevich Attorneys Back in Court in Attempt to Push Back Trial
  » Region's Jobless Rate Jumps in January


  » Large meth lab discovered on North 15th Street
  » New Berlin OKs water plant proposal
  » Hundreds have sought FOIA help from attorney general
  » Quinn on Aging lease: Don't 'hold your breath'
  » Quinn signs bill moving Illinois primary back to March
  » Chicago cardinal seeks sainthood for first black priest
  » Judge again rejects motion to dismiss Watkins' visitation case
  » Republicans will get top spot on Sangamon Co. ballot
  » House strongly rejects electing U of I board
  » Judge says print can't be tested in Slover case


  » ‘Lost’ photos of 1925 devastation discovered
  » Families dealing with hemophilia offer support
  » JALC, unions try to roll back layoffs
  » Local residents protest health care bill
  » Jonesboro lays off 10 teachers


» Bartlett High student tells lawmakers about U-46 cuts
» Round Lake Park man accused of bringing bat to gang fight
» Zoo to help grow snake population in Lake County
» Veterans honor two District 300 teachers
» Military: We still want bin Laden alive


  » Primary date moved back
  » Sen. Hutchinson: "We haven't been doing that for the last 25-30 years"
  » GOPUSA ILLINOIS Daily Clips - March 17, 2010
  » Conversation starters
  » List of demands

» Protests may be public, but they're not alway..
» Kicking it in college - and beyond - Chicago ..
» No Respect Biden Debuts at Radio, TV Correspo..
» QC symposium offers tips on landing contracts..
» US 34 widening project on hold - Galesburg Re..
» Indiana Marine shot by Afghan contractor - AB..
» Idaho first to sign law against health care r..
» Walsh admits missteps before foreclosing on c..
» Idaho first to sign law against health care r..
» Idaho first to sign law against health care r..

502 Bad Gateway

The server returned an invalid or incomplete response.

» Blagojevich's request for trial delay has bee.....
» DADT Repeal Still Uncertain - Metro Weekly...
» Jackson leaves Urban League, takes 'gigantic .....
» Dems highlight GOP abuse of filibuster - UPI......
» DADT: Study or stall? - Bay Windows...

    » Let’s be real about Wrigley's feel
    » 14th CD citizens protest Obamacare in Batavia
    » Why is Giannoulias sweating?
    » Booker Rising: Could 2010 Be The Year Of The Black Republican?
    » Oh, Gee! Et tu, Prof. Green?
    » The World's Greatest Podcast: Bad calls & close calls
    » Wdebliography: `Deem and pass.'
    » Contractor/Vendor Job Fair/Workshop
    » Keeping the Ward Clean
    » Should principals be empowered leaders or branch managers?


Header Photos...
Wayne Bretl & UIS


Hosted by MCS