Rahm Stays on Ballot
The Illinois Supreme Court ruled today that Rahm Emanuel can stay on the ballot for mayor of Chicago.
The decision comes without a moment to spare; early voting for the Feb. 22 city election begins Monday, Jan. 31.
Let the games begin.
Labels: city politics
posted by SCC at 5:34 PM
123 Comments:
We're Fu*ked...time to leave the only home I've loved for 48 years. First Daley, Now this joker?
No, just...no
Is this the 'Chigago way' or just Rahm it to ya?
W
WE ARE FUCKED.... the FOP backed Chico, Rahm does not forget
this country if is a fucking JOKE. I will no longer do any police work work if this cock sucking fuck whore wins
I feel sorry for us. Now it'll be business as usual, and then some, for the city of Chicago.
Add in his vile temper, his penchant for retribution and his foul mouth and we're in for a miserable four years.
Term limits NOW!!!
Another Fix, of Course...
DAMN!!!! So if I intend to come back here to my little house or 1 bedroom condo that I'm renting out then I can move out of this shit city???
Lets go anyone but Rahm!!!
dont vote for rahm
Registered voters every Ward must have a strong leader. Rahm WILL become the next mayor. We can not and must not have a weak Alderman. We need more Scott Waugespacks out there who are not afraid to challenge. Lt. Gaurido, Sgt. Richard Gonzalez we need them in the city council.
Every city worker, especially police fire and teachers need to get off their butt and make sure we can get every person we know to the voting booth. Otherwise we have no one to blame but ourselves. Anyone not retired who votes for this pos should be ostracized. He has already sain he is going to change the pensions for anyone still working.
It looks like Rahm will either win outright or have a runoff with Chico. Braun is out of it. Now she can look for a job and pay her taxes.
Off topic...
Tribune Breaking News has a story about two robberies in Westmont by four male-xx height and weight-earrings-driving a beater Oldsmobile.
Now what's missing?
Called the reporter who wrote it, Brian Slokol or something.
What race are the robbers?
"You'll have to call Westmont Police for that."
Why?
"The Tribune doesn't want to encourage racial profiling."
What if four people who had nothing to do with it get bothered?
"This is our editorial policy."
What if someone spots the robbers but doesn't know it, and they hurt or kill someone?
"I see your point but we have to follow policy."
Why even bother to give the weight, sex, height without the race?
"Well, I have to follow policy."
Won't bore you with the rest, but gave up his editor as Ann Halsted or something, it went from a single written rule to a bunch of rules...whatever.
1. These people don't reallize how ridiculous they sound.
2. They panic and you can actually hear the discomfort level spike when you ask them direct questions.
3. Hey, Brian, keep sticking up for the Tribune. They'll be out of business pretty soon but you're following the 'policy.'
Hahahahaha! Channel 7 leads off with the Rahm story. As they report it, the first thing Rahm did, when he heard the news, is make a phone call "HOME", to his wife and family in Washington, D.C.
This is a heartbreaking decision. Goodbye pension, I almost knew thee.
Anyone with the time and age better put your papers in tomorrow, because Rahm's coming after our pension. I wanted to work 3 more years to max out, but I'll take my 26 years guaranteed instead of working 3 more years wondering what Rahm will do to my pension.
what the machine and all it's political clout is making happen in chicago and the state of illinois is nothing less than breathtaking.
the king is dead, long live the king.
CHICO is still my ameego!
"My advice... is to start drinking heavily."
I guess I can live outside of Chicago now.
DONE!!!
Illinois, where our Governors make the license plates. Did anyone ever think the outcome would be different? Will did you? I can smell Springfield from here. Soooo, gonna hold my nose & vote for Chico. Dammit!
thank god.this joo will keep all the union goofs in line.he should just go out to o'hare with a machete and start chopping off the heads of the unionized streets and san clout babys.and kiss your pension goodbye.this guy is gonna be like a shark.he has this citizens vote(s)
to coin a phrase:
We re dooooooooooooooooooooooomed
Now is the time to really vote. Many have said Gery Chico is out due to Walter "Gator" Bradley's endorsement. It may not be the best interest, but if it gets you votes, take it. As in politics you take what you can get. If you want to vote for Rahmbo, you are the biggest idiot around. You thimk Daley hates the police, Daley looks like our best friend compared to Rahm. Quit with the comments, why should I vote, it doesn't make a difference. That mentality got Quinn re-elected. Rahm will stick it up our asses so far with pensions and contracts it will come out our nose. I will say I know Gary. Do I want anything from him. Hell yes my pension and nothing else. But I will say from personal experience, and you don't have to believe a word, is he was always a person of his word. Yes he came up in politics, but he did that with hard work and making friends. He may be part of the machine, but I know he has strongly disagreed with many politicians including Daley and got shit for it. I know he cares about the city and crime. I truly believe if there is any way in hell he will fix the police department for us. Knock down the size of the brass and give us more police on the street. He is our friend. Whether you believe it or not. You can vote for whoever you like, but I will say one thing, Gery Chico will be more of a friend to the police than any other person. No matter what, get off your lazy asses for once and vote. If you don't, don't be bitching about who got in. I am a blue shirt and no matter what will stay a blue shirt. But I really would like to have a pension when I go in 6 years. I don't want to eat dog food for my one meal a day because they take our pensions away.
Serve your ruler, Chicago. Serve him well and he shall be good to you. Serve him poorly and you shall be poor. As goes the king, so go his servants.
Rahm 3:17
FOP Greg Bella informed us today at roll call that mayoral candidate Rahm Emanual will provide 5 days of medical per officer, and upon his election as mayor we will no longer receive 2.5% ear year of pension after our 20 years, it will be reduced to 1% a year. This means we must work 45 years to receive the 75% pension. Wow.
I must say I am extremely agitated that FOP knew this information several weeks ago yet failed to post this info on their site, on this site (since they have been campaigning heavy on SCC) or through a special bulletin notice mailed to its members. FOP YOU SUCK. Our pension is officially gone. Take it to the bank.
This is the best example of the city that works. The city politics even has the Illinois Supreme Court wrapped around it's finger. A case brought before them and a decision made in less than a week. Un-fucking-real!
Good.
I'm going to rent out my house.
Fuck this!
Oy!! chicago is doomed now!!
is anyone surprised? another entitled asshole in charge of the city. he starts messing with cpd/cfd pensions, he will find out how hard it is to run the city without them.
Oh wait he hasnt won the election yet, but he has the almighty one backing him so its a foregone conclusion.
Masters and Humberman are probably jerking each other off right now..
And a few can do as they choose. A city worker follows the rules. Take it to court but they run that. So what really is the point when they treat you like a rat. Wake up all you rats throw these bums out when the next election comes around bxxn the house down ! WOw had to find something with a simular sound to it :> ! But really what can we rats do? This ruling is a horrible shame to the rule of law. But when did the law ever stop corruption.
Every tax paying "rat" is fucked here. This is right in your face Chicago. No wonder I cant carry a gun legally in chicago/Illinois, taxes raised 6X percent, state reps get payed 68,XXX a year for part time job plus 1XX dollars for every day in session, but they do such a fine job.
Have and have not..........
Vote them out ! northside/down under !
Police & Fire guys are SCREWED now.
Bummer.
Looks like Shortshanks II - The Sequel is now a done deal.
I hate this city. :(
.
Just renewed the plates on the car, packed a footlocker full of crap in the basement, plan on voting from this address and got the for rent sign out front. But don't worry because I fully intend on coming back one day. Goodbye hell hole of shitcago I'm outta here cuz the IL supreme court says that's all I need to maintain residency here!!!
Fucking prick....our pensions are officially ruined. I'm not wasting my time to vote. Rahm is the next Shitcago mayor.
I find it all just so sad.
The fix was in. The law only applies to those of us who are of the working class. Rahm will ram it up our asses. Vote Chico. Chico...do yourself a favor...stay away from Luis Guiterrez, Gator Bradley, and others like them.
wow shocker
Rahm Emanuelle does NOT BELONG on the ballot for Chicago mayor, even though I do not agree with him politically for the most part this is the ONLY reason he should not be on the ballot.
HE RENTED HIS HOUSE OUT while working in Washington, thus removing him from being a resident of Chicago for ONE YEAR as required by Chicago municipal code. I have a friend that works for the city, he was married and had kids and owned his house in Mt Greenwood, he was having marital problems because his wife went nuts, he filed for divorce and his wife made him move out, the only place he had to move was with his parents in the suburbs,well the crazy wife notified the inspector general of Chicago and he was followed and was then fired for NOT BEING A RESIDENT OF CHICAGO while employed, he tried to explain that he INTENDED to move into an apartment in Chicago as soon as he had enough money, (Rahm stated basically the same thing) my friend owned his house paid taxes on it, had possessions in it and intended on moving back to Chicago, but he was fired anyway, it took him a year and a half to get his job back and even longer to get his back pay and was forced into bankruptcy, so why should Rahm be on the ballot ??? HE SHOULD NOT BE
any time del valle wants to drop out would be fine with me. chico is the only one capable of beating rahm, and that is with the full hispanic vote combined with the city worker vote.
Illinois justice is for sale, or for exchange for political means. The law is CLEAR on residence. Well the Illinois supreme court put their foot in it this time. ANY city worker can use their definition of residency. Fuck em, it works both ways. They fire me, I'll sue the piss out of the city. Hello Grayslake, a metra ride and my true intent to return to the city when my kids are grown and I retire ;-)
Yes! we have proven that we are the most corrupt state in the union. There is no God in Illinois only Satin(the democratic party)and the corrupt Judges. Thank you Quinn, Madigan, Daley and Burke and before I forget the all powerful reverends, We are doomed hello Detroit and we will become the next Michigan
Glad to hear that Burge will keep his pension.
According to the supreme court ruling, it looks like city workers should be able to live in the burbs by claiming their rental properties as their primary residence as long as they stay there once in a while and when asked they must respond that this rental property is their primary residence because they always intended on living there.
I love the Rahm commercials where he says how city politics is not about giving your friends and politically connected jobs etc. etc. BS BS, and that under him that will all change. Anyone that believes that crap is a fool. He taught at the "school of rubbing backs and back door deals." So this now means we can rent our house out and live in the burbs and still be a resident, right? We all know Rahm would still be living in DC and have no intention of comming back to chicago if Daley didn't retire. Scary how much unchecked power he will have with his friends in DC and Eric Holder running the justice department.
So Now we have corruption at the Illinois supream court. Look to see some of the judges get federal appointments or other spots in the future.
FOP and IAFF and Teamsters and all other Chicago Employee unions should now file a Suit against the city for its Residency rule since Rahm hasn't legally met the Strict Definition regardless of Paying the Supreme's off.
how much did that cost him ?
Courts are suppose to "interpret" the law. This supreme court "made" law.
Surprise,surprise the anointed one stays on the ballot.
I never thought we could have a bigger jagoff as Mayor than Ritchie Daley. Rahm will prove me wrong if he is elected. He absolutely will be worse than Daley especially towards the police.He's publicly stated he wants to reduce our medical, lower our pension etc.
We need to hope for a runoff between Rahm and Chico.
How's that greeter job at Wal-Mart looking after retirement?
Wonder what kind of deal Rahmbo made with the Burke family?
What games? its mayor Rham Emmanuel
Not if, but when he's elected, because it's just the Chicago way the first thing he better do is lift the residency... Talk about the pot calling the kettle black.
And thats a surprise? So now I can buy house in Englewood, rent it out, and move to suburbs right?
vote Carol
Dear. Barack
Thx for having my back.
Your's truly
Rahm
Well I really hated to see that because I rather see him knocked off his high horse.
But in returned he had the Ill Supreme Court help define the loophole that ALL city employees should be able to use to live where ever they want inthe state.
And now that Rahm is in it to win it the CPD and CFD are screwed. Knowing his vindictive nature do you really think he is going to play fair with us on the next contract after we backed Chico. Let alone give any real consideration to residency? At least we can be sure the Teamsters will have plenty of work tossed their members way since they backed him. I was happy to see the FOP not back him. I'm just saying prepare for what's to come.
OT but just as ridiculous: Chicago Public Schools will now feed breakfast to ALL CPS students at a cost of 41 million PER YEAR!
There is not a chance in hell that they could have reviewed all of the previous testimony and/or transcripts from all of the prior hearings.
There was an immediate order for the Board of Elections NOT TO PRINT ANY BALLOTS WITHOUT Emanual's name on them.
"The Illinois Supreme Court ruled today that Rahm Emanuel can stay on the ballot for mayor of Chicago, saying in a unanimous decision that he meets the state's residency requirements..." Please correct me if I'm wrong, but wasn't the whole sticking point here the MUNICIPAL ORDINANCE that required the year of residency?
Does anybody else here think that even if NO ONE voted for Emanual, he would still win this Mayoral election?
It makes me want to puke!
Im renting my house out and moving to a different area in the burbs. my intention is to return one day when i no longer work for the city. that would not be giving up my residency would it?
I can't believe he somehow re-wiggled back onto that ballot. That guy is a political Terminator. I bet all the opponents are cringing at this point.
We are truly fucked as a city and an organization!!!!
big shocker there with madigan behind him.
This is BS!! If he wins there goes residency being lifted and the 2000 new police officers. Appeal to the federal court.
Rahm won months ago, it's a chicago election and he bought his way in a long time ago!
what part of "reside in the city" didn't they get. there is nothing in there about intent to return. if you move to another city and sign a two year lease to live there, you have moved there and reside there, not here.
will that work for city workers? buy a house in naperville but rent out your house in chicago? but boss, i always intended to live here. . . . .
again, different rules for the chosen ones.
Rahm is the only guy that can bring Chicago back to fiscal responsibility
Two other justices — Anne Burke and Charles Freeman — said they agreed Emanuel deserved to be on the ballot, but they warned that the majority’s strongly-written opinion Thursday creates such a broad new definition of “residency” that it threatens laws about police and firefighters having to live in the city, rules about what schools students can attend and who qualifies for in-state tuition at Illinois universities.
Now is the time, come on FOP and PBPA, lets roll with this while it's a hot topic.
According to the supreme court decision, I can now own a property, rent it out, actually live in a burb, of course with the intention of one day returning (as I show by having some personal possessions still stored there) and be a resident of Chicago. Game on
DooHHH!!!
There goes our Pension.....
WBBM radio, when discussing the State Supreme Court decision, said this will now open a can of worms - specifically noting the residency of municipal employees - police/fire.
Ironically, word is coming out that a well known west side lieutenant (author of the "Road Runner Manifesto"), is soon to be hitched to his childhood sweetheart.
Rumor has it that he owns a home on the SW side and she has a home in the NW suburbs. Ya think he will be the first to test out the new ruling? Hint: They say she is not moving south. lol
BTW... congrats L-tee. Keep giving them hell. The dings we hear they keep sending your way are beyond stupid, but shouldn't last much longer. Thanks for standing tall and speaking the truth.
Interesting bit from Mrs. Burke and one other judge in a rebuke of the majority's reasoning (though they agreed with the decision):
Finally, it should be noted that today’s decision will raise questions
beyond the facts of this case. Because the court holds that residency
has one settled meaning, and that meaning rests on a person’s intent,
today’s decision will have implications for residency requirements for
in-state tuition, residency requirements for municipal employees such
as police officers and firefighters, residency requirements for school
districts and other similar situations. This court should be prepared to
address those issues as firmly and expeditiously as we have done
today.
Some commenters on this insignificant blog have suggested that this changes the rules for residency for POs. Mrs. Burke tends to agree...
WARNING LABEL reads voter beware DO NOT VOTE EARLY. No with Rahm on the ballot and tonight's debate turning into a menage trois love fest ...
caution severe storm warnings, floods possible...
This is the quiet before the Almighty storm.
Do not walk the streets. Stay in your cars.
Do not politic for the recommended candidate either. He maybe redacted.
When there is peace, we must plan for war.
Protect your children and their education. Protect your homes and their property taxes. Protect your assignments and above all, your pension. To serve and protect til Feb 22.
Regardless of how you feel about the candid the law is the Law. I lost all respect for the I'll Supreme Court. I will from this day forward vote No on these Judges. I lost all respect for the Court.
If I keep my house and live somewhere eles am I still a resident.
I am so sick of the system, high taxes and bull shit deals.
We are Definitely Screwed, this guy is going to destroy our Pension! OMG what am I going to do? I was thinking about retiring, if I do I guess I will have to develop a taste for Alpo!
FOP Greg Bella informed us today at roll call that mayoral candidate Rahm Emanual will provide 5 days of medical per officer, and upon his election as mayor we will no longer receive 2.5% ear year of pension after our 20 years, it will be reduced to 1% a year. This means we must work 45 years to receive the 75% pension. Wow.
I must say I am extremely agitated that FOP knew this information several weeks ago yet failed to post this info on their site, on this site (since they have been campaigning heavy on SCC) or through a special bulletin notice mailed to its members. FOP YOU SUCK. Our pension is officially gone. Take it to the bank.
I was at that roll call. That was not what Bella said. He did say that Rahm wants to challenge the law on our pensions. Bella said that if Rahm is elected there will be a big fight between all the city unions and Rahm. You must have been sleeping during the roll call or your a Shields supporter thaT LIES.
I'm renting out my house to a nephew and moving out...if it's ok for rahmbo, it's ok for all.
Uh oh. We are FUUUUUUUUUUUUUUUUUCCKED!
He can't just come in and make changes according to his whims....we have a contract, i.e. medical.
I'm amazed how fast the ill supreme court makes this decision....it would take months or years if joe schmoe had filed a complaint to the supreme court.
I have to start looking for new digs outside IL>
The only Good thing about it all is that we no longer will have the Irish Pig Shit Daley as our Mayor anymore.
FOP Greg Bella informed us today at roll call that mayoral candidate Rahm Emanual will provide 5 days of medical per officer, and upon his election as mayor we will no longer receive 2.5% ear year of pension after our 20 years, it will be reduced to 1% a year. This means we must work 45 years to receive the 75% pension. Wow.
I must say I am extremely agitated that FOP knew this information several weeks ago yet failed to post this info on their site, on this site (since they have been campaigning heavy on SCC) or through a special bulletin notice mailed to its members. FOP YOU SUCK. Our pension is officially gone. Take it to the bank.
Fop did inform us. Douherty was at my roll call three weeks ago and said that if Rahm gets in there would be a big fight between Rahm and all the city unions because Rahm believes that he can change our pensions. Douherty said that he was basically writing off the union vote.
TO: There is no God in Illinois only Satin(the democratic party)
Satin: is a glossy fabric made from silk, polyester, or other fiber.
Satan: is the adversary of God. Thus, Satan is evil personified. See Rahm Emanuel
lots of rumors now today "6 coppers were at the Clark and Lake L stop where rahm was and told them "I will refund all your pension money and you invest as you choose then no more pension"! What copper heard that? I heard that rahm is giving all of us new cars and new homes! Stop the rumors boys and girls! Oh and Bellas roll call stop the lies we all know rahm will try to cut the pensions but will have the battle of his life vs all the unions!
From now on if I have jury duty, I WILL be a stealth juror. Just say what they want to hear and get on and do what ever you feel. They can only kick a person who is down for so long and then they will fight back. When you are fighting someone bigger and stronger then you, you don't fight fair. And you don't fight by their rules. This is the beginning of the end.
Bye Bye JFLED All the Clouted are worried I luv it Chopping Block is coming
I feel sorry for us. Now it'll be business as usual, and then some, for the city of Chicago.
Only if Burke win$
Rahm Great for Chicago
CHICO is still my ameego!
Thanks luv Daley
I served in combat in Iraq and a cop. Deployed over 5 times since Sept 11. Rahm passed the Post 9-11 GI Bill. A bill that allows me to give my benefits to my wife and son-SEMPER FI He gets my vote!!!!-Devil Dog
OT but interesting www.shieldsfop7-thetruth.com
(OT) You don't mess with coppers in egypt!
http://news.yahoo.com/video/world-15749633/raw-video-man-shot-in-egypt-protest-23989401
RAHM is just an anagram for HARM as in what he will do for your Police career.
You need to get out and vote for Gery. It's our only chance.
I don't know how I do my job. Because I read the laws and try to follow them and enforce them as a good citizen and Police Officer of the State of Illinois. This is the craziest ruling ever. I will be Voting REPUBLICAN from this day for ward.
I don't really care about Ram. It more about what's right is right. The law was clear. What's the point of having laws.
only the clouted are afraid JLED he gone all the Brass gone too Most of the aldercreatures are backing Chico da million dollar condo man
THIS COUNTRY IS LOST. On CNN they said in the history of America this will be the first generation that will be worst of than the previous generations. EVERYONE WANTED TO MAKE HISTORY, WELL NOW YOU ARE.
I know this is a reach, but since the courts say Rahm actually resided in the City of Chicago because he owned property in the City and always planned on returning; couldn't any City worker who owns property in the City,live elsewhere while stating that they always planned on returning to the City? Chances are slim I realize but it would seem to meet the courts criteria of residency.
chief of staff for daley {Chico}
Chief of staff for CPD [MAsters] behind both $$$DALEY$$$ So vote for your savior RIGHT
WE ARE FUCKED.... the FOP backed Chico, Rahm does not forget
*****Please vote for whomever...Poliodiotics aside FLOP F'ked us on the contract so they are out of touch likethe 20K bag men that works in financial crimes while I push my squad car around answering the stupid dispatch from oemc.I dont forget thanks FLOP
You know that there is more than one way to vote and you can do it everyday.
If you really want change, then look at the corporations that are making the campaign contributions putting these same types of people on the ballots -- stop doing business with those companies.
If that's too hard -- then you can't complain.
must not have a weak Alderman. We need more Scott Waugespacks out there who are not afraid to challenge. Lt. Gaurido, Sgt. Richard Gonzalez we need them -please wipe up and get off your knees Thee Clouted u fool
I'm not a Rahm fan or a Democrat but as a matter of law the Illnois Supreme Court made the right call.
I know this is a reach, but since the courts say Rahm actually resided in the City of Chicago because he owned property in the City and always planned on returning;
Are you nuts? Can you read???
No Police, No money and Summer coming. Crime is gonna go through the ruff. And I am going to retire this year and have a trade of of selling low and buying low. I will shed a tear for all my fellow brothers and sisters still working.
Chances are slim I realize but it would seem to meet the courts criteria of residency.
1/27/2011 11:29:00 PM
the court merely ruled on the requirements of residency relevant to individuals seeking to be elected to public office.
that's it.
if you want to be the first to open the can of worms, you may choose to do so.
What's the point of having laws.
1/27/2011 11:22:00 PM
now you're getting the picture.
Chalkie.
If intent determines where a person actual resides in the eyes of Illinois laws, what happens if a person gets a Florida drivers license and a Florida mailing address and intends to live in Florida one day -- when it comes time to pay Illinois income taxes?
I mean will they owe the state of Illinois income tax or Florida.
Florida has no state income tax btw.
Oh I know, the laws in our social-economic class are different than their social economic class right?
Anonymous said...
I feel sorry for us. Now it'll be business as usual, and then some, for the city of Chicago.
Only if Burke win$
1/27/2011 11:10:00 PM
Anonymous Anonymous said...
Rahm Great for Chicago
1/27/2011 11:11:00 PM
at least your bullshit was briefly stated.
thank you, for that.
Well lets see how much more these hard chargers will be working when this clown takes over.....STOP WORKING!!! Do the minimum....No proactive policing...time to "De-police" That is the only way this clowns will get the message.
Anonymous said...
I know this is a reach, but since the courts say Rahm actually resided in the City of Chicago because he owned property in the City and always planned on returning; couldn't any City worker who owns property in the City,live elsewhere while stating that they always planned on returning to the City? Chances are slim I realize but it would seem to meet the courts criteria of residency.
1/27/2011 11:29:00 PM
I know this is gonna suck but legal residency for purposes of running for office is interpreted differently than our residency as a condition of employment.
Our residency requirement is written out and given to us in the form of an affidavit we all must sign in order to be employed by the Chicago Police Department.
Speaking of pensions...
"The state (of Illinois) has reported that its unfunded liability was $75.7 billion at the close of fiscal 2010, which ended June 30. That compares with $62.4 billion in the 2009 data used by Moody's."
So the states unfunded pension obligations are growing at the rate of OVER $1 BILLION DOLLARS PER MONTH eh!?!?
Hey, it grew $14.3 billion dollars over the last year.
" Moody's looked at each state's combined pension and long-term debt as a percentage of personal income, gross domestic product and state revenue and calculated its debt per capita. Illinois' combined pension and debt burden translates to $6,692 per person, fifth highest in the country."
Yeah right, $6,692 dollar per person. Illinois has a population of about 13 million and the workforce is only about half that size.
So how much will you have to kick into the Illinois pension fund kitty?
Guess we double the $6,692 to cover your wives share and then add $6,692 for each child you have.
Not to mention how the heck you're gonna get $6,692 dollars out of a part-time temporary Wal-Mart-like worker.
It get's worse because Illinois is estimating the pension shortfall based upon the money in the fund earning 7% to 8% return on investment which they are unlikely getting
Moody's acknowledged that pension liability levels also may be understated in its report because it relied on data provided by the states. The accounting rules governing states allow for more flexibility and variation than do the rules governing corporate disclosures.
"Moody's is still quite far away from facing the true unfunded liability," said Joshua Rauh, an associate professor of finance at Northwestern University's Kellogg School of Management.
When state pension funds project how much they will owe retirees, or their liability, they convert the sum into today's dollars, figuring those dollars will be invested and provide annualized returns in line with the fund's stated investment goals, most of which range between 7 and 8 percent.
Rauh believes the state should peg its plan, instead, to the lower returns provided by less risky investments, such as those provided by Treasury bonds. "Illinois' unfunded liability is more like $200 billion," he said.
We are so screwed.
quit crying the poor streets and san workers will be privatized and out of work , at least we 'll have a job with a small pension
Only in chicago this can happen... So if i lease my house out near Midway airport, im assuming i can move my family to Orland and let my kids go to school out there? Or will i be followed by IAD and fired for living outside the city?? What's good for Rahm should be good for me!!
I know this is a reach, but since the courts say Rahm actually resided in the City of Chicago because he owned property in the City and always planned on returning; couldn't any City worker who owns property in the City,live elsewhere while stating that they always planned on returning to the City? Chances are slim I realize but it would seem to meet the courts criteria of residency.
I know dozen of cops and firemen that are already doing it. Some of them even got out of state license plates on their cars and driving to work in those autos because they only got a year or so to retire. So, whats the big deal? The FOP should be on this hot topic voicing the memberships opinion on this but they are scared.
I served in combat in Iraq and a cop. Deployed over 5 times since Sept 11. Rahm passed the Post 9-11 GI Bill. A bill that allows me to give my benefits to my wife and son-SEMPER FI He gets my vote!!!!-Devil Dog
1/27/2011 11:14:00 PM
Guys like you EARNED that benefit.
I don't think many reasonable, patriotic people would disagree. (If they do, let them 'walk a mile in your shoes')
Our complaint with Rahm is hurting the present day retirees and workers pensions that were promised these benefits as part of a guaranteed condition of employment.
IF they want to change the rules for 'future hires' at least they would know in advance what they should be entitled to as 'their' condition of employment.
THANKS for your service, Marine!
o'v(r)
Anonymous said...
Rahm is the only guy that can bring Chicago back to fiscal responsibility
1/27/2011 09:36:00 PM
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By fucking all the city workers out of well earned benefits & pensions.
How many pensions will Rahm get ??????
Since most cops and fireman cannot afford two residences, lets talk about a violation in the equal protection clause!
I served in combat in Iraq and a cop. Deployed over 5 times since Sept 11. Rahm passed the Post 9-11 GI Bill. A bill that allows me to give my benefits to my wife and son-SEMPER FI He gets my vote!!!!-Devil Dog
1/27/2011 11:14:00 PM
Cool. So you can bust your dick now and have your hero Rahm piss all over it. Solid thinking guy. Rahm will cut your police pension to pieces and force you to work until you are 70, but he it's okay because he voted yes on a bill when he was one 435 members of the House.
It will not be a stretch to use the residency for public office for residency for public employment. The definition they gave out will have to survive at least at the appellate level. IT IS PRECEDENT. Lets see if we can use it for schooling. Someone rent an apt. in park ridge. Put a hundred or so on the lease and use that for residency for nice suburban schools. The Illinois Supreme Court I bet will be regretting the way they decided this.
We all knew this would happen, so why the surprise? It is the machine at work and the machine is going tp Rahm this down our throats. CMB or Chico or this dickhead? HMMM, none of the above! Boys and girls in blue, we love you as some of us civilians come from military backgrounds and know what you are dealing with. Thank you all too for keeping us pretty damn safe.
Just like Bloomberg in NYC. "I think I'll buy a city."
Fucking sick joke this guy is. Why Chicagoans can't see this I'll never know.
Rahm has dual citizenship. (Israel/ USA) ... this alone should get him deported. Now he is running for Mayor of one of the largest cities in America.
But he is legit right? HE brokered a deal for ComEd because he was trained for that type of work right? All on the up-and up.
Leaves public service for the $18M job for 1.5 years. Now he's back. Who's the fool here? Us, thats who.
And then he runs a commercial stating that politicians should not get rich by using their public office.
Excuse me while I adjust my tinfoil hat.
Anonymous said...
I'm not a Rahm fan or a Democrat but as a matter of law the Illnois Supreme Court made the right call.
1/27/2011 11:41:00 PM
Right, and I heard Ed Burke filed for divorce today. Or he intends to.
This is a heartbreaking decision. Goodbye pension, I almost knew thee.
Anyone with the time and age better put your papers in tomorrow, because Rahm's coming after our pension. I wanted to work 3 more years to max out, but I'll take my 26 years guaranteed instead of working 3 more years wondering what Rahm will do to my pension.
1/27/2011 06:05:00 PM
The problem that I have with all these aldermen and upper management politicians is that they want to cut cut cut any and everything that has to do with the front line...mainly our pensions and whatever the fuck else they can think of! But you don't hear any of these motherfuckas saying anything about reforming pensions for aldermen, politicians or CEO's, CFOs or upper management, etc but all of em want to cut us dry!! That's a bunch of bull!! They can keep they're 80% or whatever the hell it is...that's bullshit. Total bullshit
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