Downers Grove police officer was arrested Thursday after being accused of using his law enforcement computer to glean license plate information for personal purposes
Click on the following for more details: Daily Herald | Downers Grove police officer charged with misconduct
The following are some of the highlights of an article by by Richard Mattoon, senior economist and economic advisor of the Federal Reserve Bank of Chicago. The complete work is four pages and can be seen at: http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflaugust2010_277c.pdf
The state of Illinois has been facing a precarious fiscal situation for the past several years. According to the Civic Committee of the Commercial Club, Illinois has accumulated over $120 billion in total indebtedness. This works out to nearly $25,000 per household. Even in the short run, Illinois faces a budget deficit in excess of $11 billion in the next budget year.
reflect the state’s ability to pay off the debt. Under this measure, Illinois had a state and local debt level of over 210% of total taxable resources in 2007, which compares to a level for all U.S. states of roughly 180% during the same year
Illinois’s total liability is nearly 35% of gross state product (GSP), compared with 20% in Indiana, 19% in Wisconsin, and 13% in Iowa.
New York City’s fiscal crisis in the mid-1970s, Proctor explained, the city was essentially placed into receivership. In response, the city had to begin producing four-year rolling budgets that would be monitored and revised on a quarterly basis. This longer horizon introduced more disciplined planning into the budgeting process. Moreover, the city was required to balance its budget on a GAAP ….two-tiered oversight system was created. In the first tier, a control board was established to run city finances; and in the second, an ongoing monitor was set up to ensure that fiscal discipline continue
Richard Dye (IGPA) presented joint work with Nancy Hudspeth and David Merriman on a fiscal model designed to allow multiyear budgeting for Illinois….According to the model, total expenditures are projected to grow at 4.6% per year, while total receipts will grow at 3.5% per year. Without policy changes, this 1% growth gap will lead to significantly larger deficits in the future,
Other Researchers-----
Pensions: bring the system back into line, costs must be reduced by reducing basic or ancillary plan benefits for current and/or new employees, increasing investment returns, or reducing administrative costs. It might also be possible to identify new funding sources to reduce the size of the gap.
More taxes: most reasonable options would be to raise the personal income tax rate (given that the 3% flat tax rate in Illinois is lower than in neighboring states) and to consider extending the sales tax to a larger group of personal services.
At tonight’s board meeting Mr. Walberg took action to fill the two vacant Health Department board seats.
Before Mr. Walberg’s appointments were announced to the public, Dr. Dennis Norem addressed the county board. Dr. Norem was one of the four candidates who submitted their applications before the deadline. Dr. Malcolm also was of these four candidates.
Rumor has it, that Mr. Walberg contacted former health board member, George Sprecher, and convinced Mr. Sprecher to consider another appointment. As note by my Freedom of Information Act request, Mr. Sprecher’s application was apparently not received until after the July 7 the deadline. (See photocopies below)
![[County FOIA 7-14-2010[4].png]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXhmE11tjaNhfcKmi8toJBJcsXj82z3QwLluHM5Y7T3CTDveGYFssvTHpdPR2ygIheB0GAi6zbyLTk9YhrN0ditlk3VvrsNwy4602jUF8ksCCDiIqEQDVoK9O4-PB6XwvK5VG4dN4xN4jP/s1600/County+FOIA+7-14-2010%5B4%5D.png)
Feed: Rising Sun of Nihon : Top 30 Performing Stocks in Japan Over Past 20 Years – #13 Nihon Dempa Kogyo
Top 30 Performing Stocks in Japan Over Past 20 Years – #13 Nihon Dempa Kogyo
Click on the following for more details: Top 30 Performing Stocks in Japan Over Past 20 Years – #13 Nihon Dempa Kogyo | Japanalyst - Japan blogs in English
$98 million project is a part of $1.1 billion awarded in January by the Obama Administration to improve passenger rail service between Chicago and St. Louis. The improvements are expected to allow trains to operate at up to 110 mph. At that speed, up from 79 mph currently, travel time between the cities would be cut by about 90 minutes, to under four hours.
Michael St. Angel will succeed John Elder, who is retiring July 31 but will continue to offer his services to the township on a part-time basis.
St. Angel, a resident of Rockford, is a graduate of Rockford College, an Illinois certified residential real-estate appraiser, Illinois commissioned notary of public, member of the Illinois Coalition of Appraisal Professionals and Rockford Area Realtors.
Belvidere Township appraiser appointed - Rockford, IL - Rockford Register Star
ROCKFORD (WREX) - A homemade bomb was set off by someone inside the Woodman's grocery store.
The small explosion was set off in Aisle 10 of the store around midnight.
Rockford Police say the device is known as a "MacGyver Bomb", a homemade explosive device made with liquid materials and metal.
No one was hurt and no arrests have been made. A suspect was captured on a store surveillance camera walking into the store with a bottle in his hand and then leaving the store without a bottle. The camera in Aisle 10 was facing the other direction and did not capture the actual explosion.
Homemade bomb goes off inside Woodman's - WREX.com – Rockford’s News Leader
