Tuesday, October 27, 2009

Bidders snatch up delinquent taxes - Rockford, IL

snatched up $7,672,968 worth of delinquent taxes and attached up to 18 percent interest to the bill.

“I’d say that 99 percent of the time, people redeem their taxes and you get paid your interest. It can be a good investment if you know what you’re doing.”
Tax sales can be risky, though, and people like Beasley often spend hours researching parcels they plan to bid on before attending the sale

bid a percentage rate with a cap at 18 percent. The auction caller accepts the lowest bid to win. The property owner then has 30 months to buy back the taxes

But if 30 months pass and the property owner still hasn’t redeemed the taxes, the tax buyer lays claim to the property

Click on the following to read the complete details of how it works: Bidders snatch up delinquent taxes - Rockford, IL - Rockford Register Star

BLOG Count for Boone County Watchdog: 584visitors since 9-28-2009; 236 unique visitors

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Rock Valley College’s Salary Schedule

Rock Valley College campus

The following is the teaching faculty’s salary schedule:

2009-10, 2008-09 plus 4.60%    2010-11, 2009-10 plus 4.75%
Lane Minimum Maximum              Lane Minimum Maximum
L7 49,071 96,377                                  L7 51,402 100,955
L6 47,276 92,561                                  L6 49,522 96,957
L5 45,483 88,393                                L5 47,643 92,592
L4 43,688 84,494                                L4 45,763 88,508
L3 41,892 80,596                                 L3 43,882 84,424
L2 40,098 76,698                                L2 42,002 80,341
L1 38,303 73,009                                 L1 40,123 76,477
 

Lane Advancement
Faculty will be eligible for lane advancement on the faculty salary schedule by successfully
completing pre-approved graduate courses as follows:
1. Graduate courses in the faculty member’s teaching area.
2. Graduate courses in education such as: Community College, Educational Psychology,
Philosophy of Education, Administration of Higher Education, Guidance, Evaluation and
Testing, Educational Statistics, Instructional Technology, or Adult Education.Applications for coursework approval shall be submitted to the appropriate Dean at least thirty (30)
days prior to commencement of the graduate course. Evidence of coursework completion must be submitted to the Dean as provided in Section 7.1.2.
Faculty members shall not be advanced to a lane for which the degree has not been earned. For example, a faculty member who has not been awarded a Master’s degree shall not be advanced to the Master’s lane or beyond until the degree is awarded and the coursework completed. A faculty member who has not been awarded a Doctoral degree shall not be advanced to the doctoral lane.

The initial step placement will be rounded to the nearest whole number (with .5 rounded up to the next number) and the initial step placement will not exceed Step 6.
All current faculty members will be advanced one step for each year of service from their step placement on the 2007-2008 salary schedule for each succeeding year of the contract.

Within each lane --a year of additional experience will be rewarded by $1000 or more per year of experience.

State borrowing $1B more to keep running - Springfield, IL - The State Journal-Register

 

looking at the third short-term borrowing plan in recent months to allow the state to pay its bills from November to February

spokeswoman for Comptroller Dan Hynes, said the state borrowed $1 billion in May and another $1.25 billion in August. All that borrowing and the new borrowing – topping $3 billion – is to be repaid by next summer.

State borrowing $1B more to keep running - Springfield, IL - The State Journal-Register

Why South American economies are rebounding first | csmonitor.com

Commodities-hungry China is pulling Brazil, Chile, and others out of recession. But Mexico and Central America, dependent on US sales, are lagging.

China has overtaken the US as largest trading partner for both Chile and Brazil. Other commodities exporters, particularly those with strong ties to China, are also rebounding, including Peru and Argentina.

The Inter-American Development Bank estimates that remittances [from US] to Latin America and the Caribbean will fall by 11 percent this year.

Click on the following for the rest of the story:  Why South American economies are rebounding first | csmonitor.com

Daley's 2010 budget includes property tax relief

 

will be confined to families whose total household income is $200,000 or less.

City officials say that roughly half of Chicago’s 400,000 homeowners will be eligible for relief. Grants will range from $25 to $200, with the amount of relief based on family income and the size of the tax hike.

A $25,000 income and a $350 tax hike would trigger a $200 grant, for example. The average check is expected to total $150, city officials said.

Daley's 2010 budget includes property tax relief :: CHICAGO SUN-TIMES :: City Hall

Editorial - The Case for More Stimulus - NYTimes.com

 

Lawmakers in both parties fret that large budget deficits preclude more stimulus, lest the burden of debt outweigh the benefit of deficit spending. Both arguments are wrong.

If anything, ongoing economic problems are a sign that stimulus needs to be bolstered. Deficits are a serious issue, but the immediate need for stimulus trumps the longer-term need for deficit reduction.

The Senate could take a step in the right direction by extending unemployment benefits without further delay. That is the single most effective way to boost consumption

Next, Congress and the administration should agree on ways to ease the dire financial condition of the states

Without another round of effective stimulus, the worst recession in modern memory will likely become — at best — the weakest recovery in modern memory.

Click on the following for this editorialEditorial - The Case for More Stimulus - NYTimes.com

Psychotropic drugs given to nursing home patients without cause

New report from Tribune Watchdog Section. 

Frail and vulnerable residents of nursing homes throughout Illinois are being dosed with powerful psychotropic drugs, leading to tremors, dangerous lethargy and a higher risk of harmful falls or even death, a Tribune investigation has found.

Thousands of elderly and disabled people have been affected, many of them drugged without their consent or without a legitimate psychiatric diagnosis that would justify treatment, state and federal inspection reports show.

Tribune identified 1,200 violations at Illinois nursing homes involving psychotropic medications since 2001. Those infractions affected 2,900 patients.

unprecedented review of more than 40,000 state and federal inspection reports found that nursing homes ranging from "five-star" establishments on the North Shore to run-down facilities in urban neighborhoods have been cited for improperly administering psychotropic drugs.

In 2003, an 83-year-old woman without a diagnosis of mental illness was placed on Haldol -- among the most dangerous antipsychotic drugs -- two days after being admitted to the Heartland Health Care Center in Moline

Click on the following for more details:  Compromised Care: Psychotropic drugs given to nursing home patients without cause -- chicagotribune.com

Palin receives $1.25M for book retainer

... choice; Sarah Palin is not

She kept a fairly low profile as she worked with her book's ghostwriter.

"Going Rogue" catapulted to No. 1 on Amazon.com and Barnes & Noble.com after HarperCollins announced in late September it had moved up the release date of 1.5 million copies from spring to Nov. 17.

Click on the following for more of the story:  Daily Herald | Palin receives $1.25M for book retainer

Dealers anxious as Chrysler stays mum on car plan

Chrysler, Fiat Close Deal 

Taxpayer money, around $15 billion

tough year for the auto industry has turned into an especially trying one for Jeep, Dodge and Chrysler dealers. Sales are down almost 40 percent versus 27 percent for the industry.

Dealers are impatient for details about Marchionne's five-year game plan -- to be announced on Nov. 4. Many say calls to headquarters have gone unreturned or they're told to wait as the CEO tries to keep his plans secret until next month.

only vague assurances of seeing a redesigned Jeep Grand Cherokee in the spring and a new Chrysler 300 large sedan sometime next year

Clunkers windfall all but bypassed Chrysler because it lacked enough fuel-efficient models on lots to meet demand

The automaker stopped building 2009 Calibers and won't ship 2010 models with improved interiors until November.

Click on the following for more details:  Daily Herald | Dealers anxious as Chrysler stays mum on car plan

Boone planning commission has three vacancies

 

Interested parties are asked to send a letter and resume expressing interest and qualifications to Boone County Board Chairman Bob Walberg, 601 N. Main St., Belvidere, IL 61008.

Boone planning commission has three vacancies - Rockford, IL - Rockford Register Star

AMCORE losses accelerate

... Rockford, IL - Rockford 

AMCORE reported a $156.4 million loss in its third quarter.The company’s revenue plummeted to just $34.7 million, the lowest quarterly total by more than $9 million this decade, and because the value of the company’s assets continues to decline, it shifted $60.3 million more into its loan-loss reserves to cover future loan failures.

The losses continue to chip away at AMCORE’s operating capital. The company said in the earnings release that it had $430 million in bank capital at the beginning of the quarter and still had $350 million at the end of the quarter and that potential future credit losses can be covered by its remaining capital

Click on the following for more details:  AMCORE losses accelerate - - BusinessRockford.com

Children rescued in prostitution sting | Seattle Times Newspaper

initiative has rescued nearly 900 children, led to the conviction of 510 pimps, madams and their associates, and seized $3.1 million in assets, according to the FBI. 

Most of the children recovered through the project have been girls, who usually become victims of traffickers around the age of 12, Allen said. He estimated that 100,000 children are still involved in sex trafficking in the U.S., adding that the problem is growing partly because of the recession

Within 48 hours of hitting the streets, one-third of runaways are lured into prostitution or pornography, according to research by the Klaas Kids Foundation, a nonprofit established to help find and rescue missing children..

Click on the following for more of this story and its particular’s for Seattle:  Local News | Children rescued in prostitution sting | Seattle Times Newspaper

Double-digit property tax increases in city of Chicago and Cook County suburbs

properties get reassessed on a rolling basis every three years and may not fully capture recent declines in property values.

phasing out of a state-authorized program implemented earlier this decade to soften the tax blow of then-soaring home values. North suburbs received those benefits before south suburbs, so now north suburbs are feeling the pain of the phaseout earlier as well.

consider the situation in Northlake, which straddles the dividing line between the north and south assessment zones. In the part of the town north of North Avenue, the median assessment is up 20.9 percent. But south of North Avenue, the median increase is 8.7 percent

Click on the following for more of the storyDouble-digit property tax increases in city, Cook County suburbs -- chicagotribune.com

Wis. nonprofit gets $3.3M grant for solar training

based in Custer in central Wisconsin, is one of nine organizations to receive such funding from the Department of Energy for similar projects.

Midwest Renewable Energy Association will work with universities, colleges and other groups in Wisconsin, Minnesota, Illinois, Iowa, Indiana and Ohio to train 200 solar instructors in the next five years.

Click on the following for more details:  JG-TC.com > Ap-state-il > Wis. nonprofit gets $3.3M grant for solar training

Metra's fare hike? It's fair | Daily Chronicle

 Metra To Pay $11M In Train ...

A weekend pass – good for unlimited rides Saturday and Sunday – would increase from $5 to $7 for adults and children over 11.

Click on the following for the Chronicle’s complete view:  Our View: Metra's fare hike? It's fair | Daily Chronicle