Illinois sells $3.7 billion in pension bonds, averaging 5.56% | Finance | Crain's Chicago Business

 

Illinois on Wednesday sold $3.7 billion in pension bonds, priced at an average price of 5.56% for securities whose maturities range from 2014 to 2019,

34.6 billion Illinois Teachers’ Retirement System, Springfield, expects to receive $2.2 billion from the bond sale and the $13.5 billion Illinois State Universities Retirement System, Champaign, $777 million.

The $9.97 billion Illinois State Employees' Retirement System expects to receive $690 million; the $420 million Illinois Judges' Retirement System, $47 million; and the $100.5 million Illinois General Assembly Retirement System, $9 million. The three plans are overseen by the $10.5 billion Illinois State Board of Investment, Chicago.

Read more: http://www.chicagobusiness.com/article/20110223/NEWS01/110229944/illinois-sells-3-7-billion-in-pension-bonds-averaging-5-56#ixzz1EqE1ImKZ
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Political Fight Over Unions Escalates - WSJ.com

Republican and Democratic leaders and strategists appear to be relishing the broadening fight over labor unions, feeling it is energizing their core supporters and clarifying key differences between the two parties.

Democrats claim the fight has injected fresh energy into the ranks of labor unions, which are a major supplier of campaign money and volunteers for Democratic candidates. Republicans say the showdowns show they are the ones willing to make tough decisions to cut government spending and take on entrenched powers.

Click on the following for more details:  Political Fight Over Unions Escalates - WSJ.com

Supreme Court Declines to Review Important Ninth Circuit Decision Upholding Washington State Ballot Measure Disclosure Laws - Inbox - Yahoo! Mail

 

The Supreme Court’s denial of certiorari in Human Life of Washington gives the green light to advocates of effective campaign finance disclosure to aggressively defend existing disclosure laws under challenge by Bopp and other opponents of transparency in government, and to legislators to enact stronger disclosure laws to shine light on the recent flood of corporate dollars into U.S. elections that are being laundered through intermediaries like the U.S. Chamber of Commerce and increasingly-prevalent fly-by-night 501(c)(4) organizations formed solely for the purpose of hiding the identities of special interests trying to buy our elections.

Click on the following for more details:  Supreme Court Declines to Review Important Ninth Circuit Decision Upholding Washington State Ballot Measure Disclosure Laws - Inbox - Yahoo! Mail

The Beast (newspaper) - Wikipedia, the free encyclopedia

 

The Daily Beast was a newspaper in the 1938 novel Scoop

The Beast was originally a Buffalo, New York alternative biweekly newspaper which now publishes exclusively online.

The Beast was founded by Matt Taibbi, Kevin McElwee and Paul Fallon in 2002.^[1] The format was originally a free biweekly newspaper, but changed in 2007 when it began to charge for issues as a national monthly publication that also offered international subscriptions.^[1] In late 2009, The Beast stopped producing print editions, but now actively maintains an online presence with the tagline "The World's Only Website."^[1] The Beast's longest-serving editor was Allan Uthman; it is currently edited by Ian Murphy (writer).^[1][2]

An annual feature of The Beast is "The 50 Most Loathsome Americans" - a list of infamous celebrities, authors, athletes, pundits, politicians and others selected for their dubious distinction, with reasons and examples given for each entry's inclusion.^[3][4][5]

Click on the following:  The Beast (newspaper) - Wikipedia, the free encyclopedia

BUSTED: Wisconsin Governor Gets Punked By Journalist Pretending To Be David Koch | Al Tech Latest News World

Thіѕ іѕ іnсrеdіblе.
Buffalo Beast — thе online newspaper founded bу onetime editor Matt Taibbi, hаѕ a recording οf a phone call between Wisconsin Gov. Scott Walker аnd current Buffalo Beast editor Ian Murphy — pretending tο bе David Koch.
(Note: thе Buffalo Beast website hаѕ bееn οn аnd οff аll daylight. )

Click on the following for more details:  BUSTED: Wisconsin Governor Gets Punked By Journalist Pretending To Be David Koch | Al Tech Latest News World

In prank call, Wis. gov discussed tricking Dems - chicagotribune.com

Walker believed the caller was a conservative billionaire named David Koch, but it was actually a liberal blogger.

The two talked for at least 20 minutes a

• Walker compared his stand to that taken by President Ronald Reagan when he fired the nation's air-traffic controllers during a labor dispute in 1981
• governor said he was ratcheting up the pressure on Senate Democrats to return to the Capitol a week after they fled to block the legislation. He said he supported a move to require them to come to the Capitol to pick up their paychecks rather than have them deposited directly
• floated an idea to lure Democratic senators back to the Capitol for negotiations and then have the Senate quickly pass the bill while they are in talks.
• On the call, Walker said he expected the anti-union movement to spread across the country and he had spoken with the governors of Ohio and Nevada. The man pretending to be Koch seemed to agree, telling Walker, "You're the first domino."

"Yep, this is our moment," Walker responded.

 

• Click on the following for more details:  In prank call, Wis. gov discussed tricking Dems - chicagotribune.com

Beloit Daily News - your source for news, entertainment, sports, opinion, events, community, shopping and more > Opinion > Todays Opinion

 

Impasse in Madison does not serve the public good.
WHETHER EITHER SIDE wants to admit it or not, there are two separate issues in play regarding the showdown in Madison.
The first and most immediate is this: There is a hole in this fiscal year budget '…

The other issue involves the proper role — if there is one — for public employee unions. That’s the tougher question, the one currently dividing the state into angry camps. Wisconsin has a long and mostly proud history with America’s labor movement. Indeed, Wisconsin even claims to be the birthplace of public unionism. Now Walker wants to all but abolish unions from the public square. No wonder his anti-collective bargaining stance is proving to be explosively contentious

Read the entire editorial is available at:  Beloit Daily News - your source for news, entertainment, sports, opinion, events, community, shopping and more > Opinion > Todays Opinion

Illinois Sees Strong Demand For Its Pension Bond

Despite its well-publicized fiscal woes, Illinois hasn't had any trouble attracting investors for its $3.7 billion pension bond deal, expected to price later Wednesday in the municipal-bond market.

Initial indications on the deal Tuesday showed $6.1 billion in orders, with around a fifth of those coming from international investors, such as sovereign-wealth funds

This is from the Wall Street Journal and you may need a subscription to read all of the article:   Illinois Sees Strong Demand For Its Pension Bond

In gay rights victory, Obama administration won't defend Defense of Marriage Act

1996 law defines marriage from the federal perspective as between a man and a woman, which means same-sex married couples are denied access to marriage-based federal benefits.

the law's key section is unconstitutional. "Given that conclusion, the President has instructed the Department not to defend the statute" in court, Holder said in a statement.

Click on the following for more details:  In gay rights victory, Obama administration won't defend Defense of Marriage Act

"Scott Walker Budget Repair Bill"–text and summary

 

Wisconsin Assembly Bill 11, the "Scott Walker Budget Repair Bill" (2011)

 

This page is the complete text of the act that will become law if Wisconsin Assembly Bill 11 is enacted by both chambers of the Wisconsin State Legislature and signed by Gov. Scott Walker. (See also: Union protests in Madison, Wisconsin over Gov. Scott Walker's Budget Repair Bill)

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Introduction

ASSEMBLY BILL 11

February 15, 2011

Introduced by COMMITTEE ON ASSEMBLY ORGANIZATION, by request of Governor Scott Walker.

Referred to Joint Committee on Finance.

Referred to Joint Survey Committee on Retirement Systems.

AN ACT relating to: state finances, collective bargaining for public employees, compensation and fringe benefits of public employees, the state civil service system, the Medical Assistance program, sale of certain facilities, granting bonding authority, and making an appropriation.

Click on the following for more details: mbly Bill 11, the "Scott Walker Budget Repair Bill" (2011) - Ballotpedia