FDIC shuts Palos Bank and Trust; First Midwest takes over assets, deposits | Finance | Crain's Chicago Business

 

Palos Bank and Trust Co., based in Palos Heights, Ill., with $493.4 million in assets and $467.8 million in deposits. First Midwest Bank, based in Itasca, Ill., agreed to assume the assets and deposits of the failed bank.

The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.

Click on the following for more details:  FDIC shuts Palos Bank and Trust; First Midwest takes over assets, deposits | Finance | Crain's Chicago Business

Attorney; Kane County board can sue officials who go over budget

The Kane County Board can sue elected officials who blow their budget, and may choose to do so after three years of trying to address cost overruns with little success.

While the county is obligated to reasonably fund every department, no one really knows what reasonable funding is for sure.

Click on the following for more details:  Daily Herald | Attorney; Kane board can sue officials who go over budget

At Ramadan dinner, Obama defends plans for Ground Zero mosque

 

President Obama on Friday forcefully joined the national debate over construction of an Islamic complex near New York's Ground Zero, telling guests at a White House dinner marking the holy month of Ramadan that opposing the project is at odds with American values.

Also see a video of the President’s comments at this site 

Click on the following:  At Ramadan dinner, Obama defends plans for Ground Zero mosque

McHenry County College’s Peace group lines up lectures

 

first event will feature Kathy Kelly, a prominent social activist and co-founder of Voices for Creative Nonviolence in Chicago. Kelly, who has spoken at previous SPAN events, has been nominated for the Nobel Peace Prize three times. She also is facing a trial in Las Vegas next month stemming from civil disobedience at Creech Air Force Base in Nevada in 2009, organizers said.

Recently back from a fact-finding mission in Afghanistan and Pakistan, Kelly plans to speak about the use of unmanned aerial vehicles, commonly known as drones. Her presentation is called “Drones on Trial: A firsthand account from Afghanistan and Pakistan.”

Kelly will speak at 7 p.m. Sept. 1 in the MCC Conference Center

Click on the following for more details about these programs:  Northwest Herald | Peace group lines up lectures

A Renegade Priest, Marek Bozek, Leads a Divided St. Louis Catholic Parish

For more than a century, St. Stanislaus has enjoyed a rare role within the archdiocese. A lay board of directors governs the parish, and church property and financial assets are owned by the congregation. That relationship began to shift in 2003, when the archdiocese proposed that St. Stanislaus’s property and assets — then estimated at $8 million — be brought under an archdiocese-managed trust.

last year Pope Benedict XVI formally laicized Mr. Bozek [a Polish ordained priest], prohibiting him from functioning as a Roman Catholic priest. 

. In 2008 he [Bozek] presented parishioners with what he called his “vision,” which included the right of priests to marry, and that of women and homosexuals to become priests.

draft settlement put forth by the new archbishop of St. Louis, Robert J. Carlson, that would have allowed the congregation to maintain control of the church’s property and financial assets. The settlement provided no guarantee, however, that the parish would remain open. The archbishop would have final say in the appointment of new board members, and, significantly, Mr. Bozek would leave the church.

Click on the following for more details:  A Renegade Priest, Marek Bozek, Leads a Divided St. Louis Parish - NYTimes.com