Investment losses pose crisis for public pensions

A very scary report-- 

Within 15 years, public systems on average will have less half the money they need to pay pension benefits, according to an analysis by Pricewaterhouse Coopers. Other analysts say funding levels could hit that level within a decade.

: If they shy away from riskier investments, they would be settling for lower returns that leave future shortfalls unaddressed. But by aggressively pursuing the higher rates of return they need, pension funds increase the chances they will be burned again by investment bets gone bad.

Click on the following for more details:  Northwest Herald | Investment losses pose crisis for public pensions

McHenry County Committee to discuss video gambling referendum

Thirty-four establishments in unincorporated McHenry County have licenses to serve liquor and therefore would qualify to have the machines,

Governments have until Nov. 30 to pass a resolution for a binding question on the Feb. 2 ballot, according to Illinois State Board of Elections guidelines. 

The committee on Wednesday intends to recommend approval of a resolution that would put a referendum on the Feb. 2 primary ballot asking whether to allow video gambling in bars and restaurants in unincorporated areas.

Northwest Herald | Committee to discuss video gambling referendum

Suburbs Out of Water by 2015 - Chicago Breaking News

This need to be researched more—there are already some shortages in Eastern McHenry County. 

• WFLD

Chicago - A new study says several Chicago suburbs may face a major water crisis by the year 2015.

Researchers at the University of Illinois say water supplies won't be able to keep up with the growth taking place in cities like Aurora and Joliet.

The aquifers which feed those suburbs won't go dry, but pumping water from them will become very expensive.

Researchers say those communities should begin conservation measures now to hold off the problem

Suburbs Out of Water by 2015 - Chicago Breaking News

Kane property taxes are high, but not as high as others

Boone County was not listed in The Tax Foundation’s work.

Kane County dropped a rank in Illinois and two spots in the national ranking from 28th among counties nationwide compared to taxes paid in 2007.
However, the median tax bill in the county actually rose 7.2 percent from the $4,697 median tax bill paid in 2007.

Lake County again ranked at the top of the list in Illinois and 18th nationally, as taxpayers there paid a median tax bill of $6,153 in 2008. Statewide, Lake was followed by Kendall County ($5,563 median property tax bill, 23rd nationally), DuPage County ($5,371, 25th) and McHenry County ($5,136, 28th).

The Chronicle | Kane property taxes are high, but not as high as others

Lawsuit filed over commission in Chemtool deal - Rockford, IL - Rockford Register Star

Old news from 2008 maybe coming to court soon. 

Williamson Real Estate Inc. claims it showed the property, owned by Guiffre II LLC, to Chemtool Inc. on at least six occasions and was going to receive a 6 percent commission on the $6.5 million deal the sides reached on Jan. 24, 2006.
The deal was later canceled

Lawsuit filed over commission in Chemtool deal - Rockford, IL - Rockford Register Star

Choking video poker – editorial from chicagotribune

The list of local governments opting out of video gambling has lengthened to 221 municipalities

The gaming industry's many influential registered lobbyists know that video gambling is so unpopular in Illinois that it generally can't survive public hearings and open debate.

Chicago presents the industry with a different challenge. In order to permit video gambling, it looks to us as if the City Council would have to cast an affirmative vote to override the current ban.

State lawmakers sneakily fast-tracked it as a way to cover one-third of the cost of retiring state bonds for a $31 billion capital spending plan

Legislators could scale back the size of their capital plan, or they could find a better way to pay for it. The worst option: leaving the current law untouched.

Each time a local government opts out of video gambling, as the Cook County Board ought to do Tuesday, the folly of exploiting poor people who'll patronize this industry to pay for new roads becomes all the more obvious.

Click on the following for the full editorial:  Choking video poker -- chicagotribune.com

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