Lawmakers again target legislative scholarships perk

Each of the state's 177 legislators can choose to nominate students who live in their district for either two four-year scholarships, four two-year scholarships or eight one-year scholarships at a state university

Many legislators don't have anything to do with the selection process and instead leave it up to a scholarship committee. The program has been criticized in the past for being used by lawmakers to reward relatives of campaign contributors.

last year, the state House passed a measure to abolish legislative scholarships, but the Senate didn't take it up for a vote. Instead, both houses passed a proposal that would have prevented immediate family members of campaign contributors from receiving the scholarships. Gov. Pat Quinn vetoed that idea, saying he supported eliminating the scholarship program in its entirety.

last year, 28 lawmakers decided not to hand out their legislative scholarships, according to the Illinois State Board of Education.

Click on the following for more details:  Lawmakers again target legislative scholarships perk

Finances for Community Building Complex of Boone County

Click on the photocopy to enlarge:

 

The following financial reports as of June 30, 2010 were recently released by the Community Building.

 

Diocese of Wilmington reaches bankruptcy settlement

The following is taken from the website of the Diocese of Wilmington: http://www.cdow.org/cgi-bin/news/news.cgi?p_id=0417&ppinc=detail

Diocese of Wilmington reaches bankruptcy settlement

February 3, 2011 --- (Wilmington, DE) --- The Catholic Diocese of Wilmington, Inc. has reached a settlement of $77.4 million through mediation of its Chapter 11 bankruptcy, it was announced last night. The settlement agreement was reached between the Diocese and its insurance carriers, the Official Committee of Unsecured Creditors, clerical sex abuse claimants, and other claimants. This settlement ends all sexual abuse claims against the diocese and parishes pending in State court, and must be approved by the U.S. Bankruptcy Court for the State of Delaware.

“Since the beginning of the bankruptcy, our goals have been to fairly compensate all survivors of clergy sexual abuse, to honor our obligations to our creditors and lay employees to the best of our ability and to continue the charitable, educational and spiritual works of the Catholic community in Delaware and Maryland’s Eastern Shore,” the Most. Rev. W. Francis Malooly, Bishop of the Diocese of Wilmington said. “We feel that these goals have been reached by this settlement. While this settlement will have a great impact on the diocesan organization; it protects our parishes where the majority of our educational, charitable and spiritual ministry is done.”

According to the settlement, funds from the Catholic Diocese of Wilmington, Inc., and contributions from non-debtor Catholic entities including the Catholic Diocese Foundation, Catholic Cemeteries, Siena Hall, Seton Villa, Children’s Home, insurance carriers and the parishes themselves, will be placed in a trust to pay survivors of clergy sexual abuse and other creditors.

In addition to the monetary settlement, the Diocese has also agreed to a number of non-monetary terms of settlement including:

• The Bishop will continue to meet with any sexual abuse survivor who wishes to meet with him. He will also send a letter of apology to survivors and their families.
• The Diocese will provide to the Official Committee of Unsecured Creditors for public disclosure all non-privileged documents in its files related to sexual abuse by, and/or supervision of, abusive clergy, religious, or lay employees.
• The Diocese will continue to review and enforce policies related to its For the Sake of God’s Children program that provides a safe environment in its schools and religious education program and screening of volunteers and employees.
• The Diocese will continue its zero-tolerance policy regarding sexual abuse.
• The Diocese will display a plaque in each of its institutions that states that sexual abuse of any kind will not be tolerated.
• The Diocese will continue the current policy of terminating confidentiality agreements that survivors may have signed as part of past legal settlements.
• The Diocese will continue to annually post on its web site the results of the annual audit by the United States Conference of Catholic Bishops of the Diocese’s compliance with the Charter for the Protection of Children and Young People

People

Other ramifications of the Diocese of Delaware Bankruptcy

As in seemingly all bankruptcy of Catholic Diocese, the diocese was considered a separate distinct corporate entity from the various parishes which the bishop reigns over.  See below from the U.S. Bankruptcy Court of Delaware Case, No. 09-13560 ,  Adv. Proc. No. 09-52866 [web posted is supplied at the bottom of  my posting]

In this Opinion, the Court draws a distinction between the Roman Catholic Diocese of Delaware (the “Diocese”) and the Debtor. The Diocese is not a legal entity, but, rather, an ecclesiastical entity under Canon law. It includes the Debtor, the Diocese’s parishes, and the other affiliated entities that carry out the Diocese’s ministry. With one exception, the Non-Debtor Defendants (defined below) are separate corporate entities that are part of the Diocese. The Diocese and its members (parishes, etc.) are under the ecclesiastical authority of the Bishop. Catholic Diocese Foundation is both a separate corporate entity and is independent of the Diocese.

Like so many dioceses in the United States the diocese had a investment  pool for the diocese and its parish.  The bankruptcy court in Delaware basically came to the conclusion that to a large degree this pool should be considered assets for purposes of bankruptcy and thereby subject to the claims of creditors.

Click on the following to see the exact decision of the Delaware court: :  http://www.deb.uscourts.gov/Opinions/2010/css06282010_09-52866.pdf

Wilmington diocese agrees to $77 million abuse settlement | Reuters

The settlement is roughly $3 million higher than the diocese proposed in mid-January, when it said payouts would likely range from $75,000 to $3 million per victim, depending on the severity of the alleged abuse.

The Wilmington diocese filed for bankruptcy in 2009 due to mounting sex abuse claims dating as far back as the 1950s.

The Wilmington diocese said its offer was higher than the average claims paid by five other diocese in bankruptcy court settlements -- Fairbanks, Alaska; Davenport, Iowa; Spokane Washington; Tucson, Arizona; and Portland, Oregon.

Click on the following for the complete story:  Wilmington diocese agrees to $77 million abuse settlement | Reuters

UPDATE 3-Chrysler must shed 'shyster' bailout loans -CEO | Reuters

Chrysler Group LLC is working to refinance what its chief executive characterized as "shyster loans" that the Obama administration extended as part of a bailout to keep the automaker from collapse in 2009.

"I want to pay back the shyster loans," Sergio Marchionne said at an industry conference, using a derogatory term for an unethical lawyer or politician. "Pay back the loans, get those out and then take (the company) public."

Marchionne, who is also CEO of Italy's Fiat SpA (FIA.MI), has said repeatedly that the high interest rates on loans Chrysler owes the U.S. and Canadian governments have been an obstacle in the automaker's return

A Chrysler spokesman declined to comment on Marchionne's use of the term "shyster".

Marchionne said Chrysler was in the final stages of discussions with the Department of Energy on its application for up to $3.5 billion loans. A deal in principle to access the new loans was still possible by March, he said.

The bailout loans carry a premium. Chrysler pays 7.2 percent on one tranche of its Treasury loan worth more than $2 billion and 10.55 percent on another $3.5 billion.

Click on he following for more details of this Reuters story:  UPDATE 3-Chrysler must shed 'shyster' bailout loans -CEO | Reuters

Chrysler storm-night decision under fire; no-confidence vote set - Rockford, IL - Rockford Register Star

United Auto Workers local that represents workers at Chrysler’s Belvidere assembly plant plans to file a grievance over the company’s decision to keep workers on the job Tuesday night.
He is also demanding that UAW members who had to stay at hotels or have vehicles towed be reimbursed.

Daniel Haerterich, who as a supervisor at the plant is not a member of UAW Local 1268, sent an e-mail directly to Chrysler CEO Sergio Marchionne, demanding repayment of the $265 he spent on a tow truck and repairing a window that was broken while his vehicle was being retrieved.

John Gedney, president of UAW Local 1268, sent letters to all union members Thursday outlining the union’s plans. He is also calling for a no-confidence vote next Tuesday against Chrysler’s Belvidere plant manager, Kurt Kavajecz of Roscoe.

It’s believed to be the first such vote in plant history, which dates back to 1965.

Click on the following for more details:  Chrysler storm-night decision under fire; no-confidence vote set - Rockford, IL - Rockford Register Star