Motorola CEO: Illinois ‘Asleep At The Switch, And The Day Of Reckoning Will...
You know the state of Illinois has real fiscal challenges when a member of the U.S. President’s Management Advisory Board (PMAB) says that’s the case. Greg Brown, President and CEO of Schaumburg-based...
View ArticleIllinois Senate President John Cullerton Says No State Public Pension Crisis
“Five million dollars a day. That’s the cost of Illinois’ unresolved pension crisis.” -Jay Levine, Channel 2 News (Chicago CBS affiliate) reporter, October 18, 2013 Five million dollars a day being...
View ArticleMoody’s Downgrades Chicago Transit Authority Bonds From Aa3 to A1, Says...
Moody’s Investors Service has dealt Chicago another ratings blow. In this case, it’s the Chicago Transit Authority. From a Global Credit Research news release last Friday: New York, October 25, 2013 —...
View ArticleWSJ Calls Proposed ‘Fix’ To Illinois Public Pension Crisis ‘Fake’
Today’s the day Illinois lawmakers may vote on SB0001 to “fix” the state’s $100 billion public pension crisis. But according to the Wall Street Journal last night, the whole thing’s a “fake.” From the...
View ArticleMoody’s Downgrades Chicago’s Credit Rating Again, Issues Negative Outlook
Just as I was about to blog about prepping tonight I observed the following splashed on the homepage of the Chicago Tribune website: Chicago credit rating takes major hit Chicago’s financial standing...
View ArticleCook County Residents To Get Hit With Tax Hikes Soon?
For a while now (last time being earlier this week), I told my girlfriend we were lucky to have escaped the fiscal debacle and revenue grab going on in the city of Chicago. At the same time, I pointed...
View ArticleMoody’s Downgrades Chicago’s Credit Rating Yet Again, Issues Negative Outlook
Chicago’s financial health is still pretty bleak in 2015. Almost one year ago to this day, I blogged about bond credit rating giant Moody’s Investor Service downgrading the City of Chicago’s general...
View ArticleChicago To Be Run By Emergency Financial Control Board Within 2 Years?
Last Wednesday, I reminded Survival And Prosperity readers (local ones in particular) that Chicago- upon reelecting Rahm Emanuel as Mayor- remains in serious financial trouble. From that post: As Rahm...
View ArticleStandard & Poor’s Warns Chicago ‘Downgrade Of More Than One Notch Is Possible’
Not too much talk about the following last week in the Chicago-area news. From Standard & Poor’s credit analyst Helen Samuelson over on S&P’s Global Credit Portal website on April 9: CHICAGO...
View ArticleChicago Warned By Moody’s About Pension Liabilities
In early April, Standard & Poor’s warned the City of Chicago: If the city doesn’t find structural solutions, a downgrade of more than one notch is possible. In our view, if the city fails to...
View ArticleChicago’s Credit Rating Lowered By Fitch Ratings, Moody’s, Standard & Poor’s
The three major U.S. credit rating agencies have downgraded the City of Chicago this past week. Last Tuesday, Moody’s announced on its website: Rating Action: Moody’s downgrades Chicago, IL to Ba1,...
View ArticleMoody’s Downgrades Cook County’s Credit Rating, Issues Negative Outlook
The following is kind of stale, but the local press didn’t really publicize it and Cook County residents are entitled to know the financial health of the local government unit in these uncertain times....
View ArticleChicago Tribune: ‘Chicagoans Should Consider A Modest Property Tax Increase...
Coming on the heels of last Thursday’s post and an earlier one about Chicago-area property/other taxes was an article by Chicago Tribune business columnist Melissa Harris entitled “Chicago isn’t...
View ArticleS&P Cuts Chicago’s Credit Rating Twice In Less Than 2 Months
Surprise, surprise. The City of Chicago’s credit rating was lowered yet again. This time, it’s Standard & Poor’s that did the cutting. Karen Pierog and Tanvi Mehta reported on the Reuters website...
View ArticleJudge Rules Chicago’s Pension Reform Legislation Unconstitutional
Here’s the latest on Chicago’s public pension crisis. Hal Dardick and Rick Pearson reported on the Chicago Tribune website last night: Mayor Rahm Emanuel’s administration said it will appeal a Cook...
View ArticleCrain’s Chicago Business: Pension Reform Ruling Could Cost Taxpayers Extra...
In my Sunday post about Chicago’s pension reform legislation being ruled unconstitutional, I blogged: Chicagoans- let that last line from Dardick and Pearson sink in real good: “Taxpayers could...
View ArticleSP Intel Report- October 26, 2015
Welcome to the inaugural post of the “SP Intel Report.” On October 15 I blogged big changes were coming to Survival And Prosperity starting October 19. I wrote: Each day will begin with an “SP Intel...
View ArticleSP Intel Report- November 11, 2015
Chicagoland Moody’s Predicts Chicago’s Unfunded Pension Liabilities Could Grow For At Least Another Decade Regrettably, the City of Chicago’s pension crisis is far from being resolved. From a press...
View ArticleMoody’s On Chicago Public Schools Crisis: Consider Tax Levy, Pension...
“Chicago and New York rank at the bottom of a new analysis of fiscal strength based primarily on data from 2015 financial reports issued by the cities themselves. The analysis includes 116 U.S. cities...
View ArticleState Of Illinois Downgraded By Fitch Ratings
Fitch Ratings, a major U.S. credit rating agency, announced this afternoon it had downgraded the State of Illinois. From their news release: Fitch Ratings has downgraded the following ratings of the...
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