Treasury and the Federal Reserve had touted the new bills' sophisticated security features that were 10 years in the making, including a 3-D security strip and a color-shifting image of a bell, designed to foil counterfeiters. But it turns out the bills are so high-tech that the presses can't handle the printing job.
1 billion unusable bills have been printed. Some of the bills creased during production, creating a blank space on the paper, one official told CNBC. Because correctly printed bills are mixed in with the flawed ones, even the ones printed to the correct design specs can't be used until they 're sorted. It would take an estimated 20 to 30 years to weed out the defective bills by hand, but a mechanized system is expected to get the job done in about a year.
flawed bills, which cost around $120 million to print, will have to burned.
Monday, December 6, 2010
Former Solid Waste Agency of Northern Cook County Executive Director Brooke Beal
Read more: http://www.dailyherald.com/article/20101205/news/712069959/#ixzz17MXn3R1a
The 47-year-old Beal who resigned from his $160,000-a-year job in late October after an audit uncovered upward of $400,000 missing from a professional development fund earned at least $75,000 in consulting fees from two suburbs over the past seven years.
board showed poor management of its resources by allowing its top employee to moonlight.
“If he’s out hustling up other business and stuff, there’s no guarantee you’re getting his full attention,” said Kent Redfield, a University of Illinois professor emeritus of politic science specializing in ethics policies. “You’d expect with the kind of money you’re paying, you’d want 100 percent of his time. You don’t want him engaging in activities where it’s not clear what master he’s serving.”
use of the 35-year-old building is pretty limited.
“There’s no way we can use it for a correctional institution again, or even offices,” he said. “The building was ready to be decommissioned when we left it.”