[B]ut California too is now starting to hand it to bondholders. Cities in California are now testing the limits of bankruptcy law, and not paying the debt nor the payments for retirees to the state system. Thus this article describes how the state retirement system...
Politics
Chicago’s New Billboard Deal All But Signed
Kudos to Alderman Bob Fioretti: A Chicago City Council committee signed off Monday on Mayor Rahm Emanuel's latest privatization deal—even though, after nearly five hours of testimony, aldermen still didn't quite know how it added up for taxpayers, what its shortfalls...
$55 Million Paid to Kids to Do Nothing
Records provided to CNN show that $54.5 million was spent on the NRI program, mostly through the governor's discretionary fund, which doesn't require legislative approval. The only data on the program's accomplishments come directly from the Illinois Violence...
Who Would Rather Not Work?
This first came up (recently at least) with the Hostess workers: Interviews with more than a dozen workers showed there was little sign of regret from employees who voted for the strike. They said they would rather lose their jobs than put up with lower wages and...