A leading bond-rating agency has downgraded the Chicago Board of Education’s debt in the wake of the settlement of the Chicago Teacher’s Union’s recent strike. Moody’s Investor Service had already downgraded the Chicago Public Schools’...
[Chicago’s] Chief Financial Officer Lois Scott reminded council members that absent significant changes to pension plans, the city will be forced to drastically cut services, raise taxes or do both to close a funding gap that could reach $700 million in just a...
This will be “policy” in Chicago within the next 12 months. Controversial Newark, N.J. Mayor Cory Booker wants to make an offer to local drug dealers that they can’t refuse. Cory Booker and former New York Gov. David Paterson spoke Tuesday morning...
Two men were stabbed, another badly beaten and a fourth arrested early Sunday morning after a fight on Division Street spilled over onto State Street, according to police. An officer sustained non-life-threatening injuries that didn’t require hospitalization...
Ok, so I was getting asked about this the other day both in person and in the comments about why the pensions are really in such bad shape and what the latest GASB positions mean to the funds. GASB first. GASB Changes I did some poking around and the recent GASB...