Thursday, October 08, 2015

Look at All That Money!

Remember, Rahm is pushing to raise taxes by nearly $600 million or by golly, he's going to lay off 4,000 cops and 2,500 firefighters!
  • Even as Chicago confronts a fiscal crisis, investors are looking beyond its turbulent finances with anticipation toward the city’s biggest bond deal ever.

    Chicago sold about $2 billion of securities for O’Hare International Airport, backed by revenue from the nation’s busiest airport and sheltered from the mounting pension obligations squeezing the third-most populous U.S. city. Fund managers at Wells Fargo Asset Management and Conning say any yield premium resulting from the city’s tainted reputation is likely a buying opportunity given the airport’s rising traffic and hub status.

    “Just looking at the nuts and bolts of the deal, it’s been pretty impressive what’s going on there,” said Paul Mansour, head of municipal research at Hartford, Connecticut-based Conning, which holds O’Hare debt among its $11 billion of tax-exempt securities and is reviewing the deal. “There will be a certain amount of firms, individuals who say no Chicago under any circumstance. That will add some value for those that look through to the underlying credit.”
Bloomberg had this story. We didn't see it in the local rags, nor the television stations. Not a dime going to pensions, even though $2 billion would pay the obligations three times over. But hey, Chicago is broke and you chumps better come up with $588 million....or else!

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77 Comments:

Anonymous Anonymous said...

To be fair, it looks like the city's hands are tied as far as using the money for anything besides airport projects.

"O’Hare is sheltered from the fallout of the city’s $20 billion pension hole because the Federal Aviation Administration limits the use of airport revenue to facility purposes. That prevents the city from taking excess O’Hare monies to fix its finances, Standard & Poor’s said in a Sept. 30 report."

10/08/2015 01:09:00 AM  
Anonymous Anonymous said...

It's fairly obvious at this point that we will have to fight for what was negotiated . If we remain dormant the theft will continue unabated . The funds exist , it's just that the powers that be would rather use them for something else . Our ancestors would have taken direct action by now .
Our entire existence will likely be judged by the response to this injustice .

10/08/2015 01:24:00 AM  
Anonymous Anonymous said...

Daley (and now Rahm) learned from his buddies in the Mob and Wall Street how to do this. The Mob called it Busting Out a Business. You go into a well run, going concern with good credit and either sell every asset or better yet, mortgage it two or three times, and make that money disappear into your pockets and the pockets of your fellow mobsters/politicians. You use the available credit and reputation. Bring the stuff in the front door and sell it out the back door for a nice discount. Just a whole lot of "shrinkage." You can run this scam for awhile before the creditors get suspicious. Then boom the whole place goes up in smoke, all the records are lost, "it's not my fault, blame those guys, blame the business cycle, not my fault."

And you employees, You Are Screwed! You taxpayers, You Are Screwed!
Here's a few pennies on the dollar.
Assets? What assets? All the assets were mortgaged to the hilt, and then sold off. We don't own them anymore.

Welcome to Detroit City!

10/08/2015 02:26:00 AM  
Anonymous Anonymous said...

Unbelievable how conniving he is. Thats what you get for voting for this weasel.

10/08/2015 03:11:00 AM  
Anonymous Anonymous said...

CHICAGO (AP) The Chicago White Sox plan to change the look of U.S. Cellular Field next season.

The team announced Thursday that it will put three new video boards in the ballpark. The main center-field scoreboard will be replaced, as will the auxiliary screens in left and right field. The changes, at a cost of $7.3M, will be paid for by the Illinois Sports Facilities Authority, which owns the stadium.

White Sox senior vice president for sales and marketing Brooks Boyer said the board in center field would be between 7,000 and 8,000 square feet, replacing what's currently the smallest screen of its kind in the major leagues. The screens in right and left will be around 2,500 square feet.

Boyer said the ballpark that opened in 1991 would undergo other changes for next year, but he didn't elaborate. He said new screens have been on the team's wish list for a ''long time,'' adding the new video boards the Chicago Cubs installed at Wrigley Field weren't a motivation.

''It's great that the Cubs got their new boards,'' Boyer said. ''More motivated by the fact that right field and left field were falling apart and the center field one was the smallest in baseball.''

10/08/2015 06:39:00 AM  
Blogger SpankDaddy said...

It's like a Chinese Restaurant. Column A and Column B. You can't mix them.

10/08/2015 06:44:00 AM  
Anonymous Anonymous said...

"Remember, Rahm is pushing to raise taxes by nearly $600 million or by golly, he's going to lay off 4,000 cops and 2,500 firefighters!..."

Rahm has already laid off about 3,000 cops BY ATTRICTION and deliberate mismanagement. Just keep the talking heads on the news saying that CRIME IS DOWN. We know it is down by underreporting and killing it on paper. All those murders is the fault of TOO MANY BAD GUNS, but lately he is saying violence it is family based. Watch that he will start spending a lot of money to control families through programs with the rev-runs.


Can one of our Firefighter brothers let us know what he has down with CFD manpower.

10/08/2015 06:52:00 AM  
Anonymous Anonymous said...

you would think someone in the media would go over the police and fire contracts,there will be no police or fire layoffs all a scare tactic for the sheep!

10/08/2015 06:56:00 AM  
Anonymous Anonymous said...

WTF??!! I'm calling my alderman, oh right, forget it

10/08/2015 07:16:00 AM  
Anonymous Anonymous said...

What, no humor at the expense of this clown?

http://chicago.suntimes.com/crime/7/71/1015892/police-dui-suspect-talked-drugs-hidden-home

10/08/2015 07:18:00 AM  
Anonymous Anonymous said...

Follow the $2B to the next scandal.

10/08/2015 07:21:00 AM  
Anonymous Anonymous said...

F.O.P. might want to comment about this to our local media. Or is that too much to ask?

10/08/2015 07:48:00 AM  
Anonymous Anonymous said...

Rahm has over 2 billion from the O'Hare bond deal yet the "Black Caucus" is worried about hiring more minorities and firing McCarthy. WTF? I don't want to pay more property taxes, higher water bills and a garbage collection fee?
I'm sending a copy of the Bloomberg article to the Tribune and my Alderman. If he votes for the new budget, it's time to support anyone else who runs against him in the 23rd Ward...
When will City Hall fess up and admit they are hiding Massive amounts of money that can be used to fund the pensions....
Where's the Feds?
Where's that goof Andy Shaw and his better Govt assoc.??


Fed Up

10/08/2015 07:51:00 AM  
Anonymous Anonymous said...

Hey SCC,

Off topic but have a question.

I have asked FOP and received no reply.

If a department member is charged with an allegation, that FOP determined was off duty, but found to be a false allegation.

Who is responsible for the legal costs? No sworn affidavit three year investigation and police board hearing
to prove no proof of allegation.

I ask since reading recent FOP 7 magzine that must have cost something to print and who paid for it?

10/08/2015 07:59:00 AM  
Anonymous Anonymous said...

Give it up with the pensions. Pensions are a thing of the past. Save a little every payday and invest it. Start a 401K or IRA, but forget about pensions. In our modern democrat inspired economy cities, states etc. cannot afford them.

10/08/2015 08:03:00 AM  
Anonymous Anonymous said...

Rahm Steals, Madigan Squeals.

10/08/2015 08:18:00 AM  
Anonymous Anonymous said...

Rahm has no intention of shoring up and honoring our pensions.

He's a slimy, evil bastard.

10/08/2015 08:41:00 AM  
Anonymous Anonymous said...

There is always PLENTY of money.

Just not for you poor bastards.
Just pay your taxes,
and vote Democratic or don't vote at all.

10/08/2015 09:36:00 AM  
Anonymous Anonymous said...

convert the TIF money,,,,even the liberal media calls it " a mayoral slush fund"

10/08/2015 09:41:00 AM  
Anonymous Anonymous said...

SCC, you or your proxy needs to start attending City Council meetings and speak up!! Could a run for office be in your future??

10/08/2015 09:42:00 AM  
Blogger Cuthbert J. Twillie said...

+++++ 'Chicago has the worst-credit rating of all major U.S. cities except Detroit ...' +++++

Woo-Hoo! Yippee! Way-to-go Tiny Dancer! Chicago is number 2 and rising....uhhh....I mean falling (lol).

All that's needed now is for the Homies to set a new Homicide Record. Add in a few missed payments to the Pension Funds, the CPS defaulting on their Pension Fund payments. Mix in a Teacher Strike and that neat little Property Tax increase of yours and Chicago will easily unseat Detroit as THE Most fucked up city in the country.

You know you can do it Rahm, so come on, make Chicago Number One! You're not the father of: 'Never let a good crisis go to waste' for nothing.

10/08/2015 10:12:00 AM  
Anonymous Anonymous said...



OT
Happy Anniversary
October 8, 1871 Great Chicago Fire



10/08/2015 10:15:00 AM  
Anonymous Anonymous said...

Anonymous said...
Unbelievable how conniving he is. Thats what you get for voting for this weasel.

10/08/2015 03:11:00 AM
They have all been weasels and not trustable. Nothing new here. I think that Illinois democratic party has too much in-breeding. I once spoke to a newly minted deputy chief, someone whom I had known and worked with for years. He said that now he is promoted he is going to get " his". That seems to be the attitude of just about every who finds their connection.

10/08/2015 10:36:00 AM  
Blogger SCC said...

To the cranky sCrUBS fan:

If you had done any sort of reading here at all, you know that we don't follow baseball...haven't for years, sCrUBS or SUX.

We follow the Blackhawks and...regrettably...the Bears, mostly for comic relief nowadays.

Besides, they won a single best-of-one in-bracket game and you think it's a pennant? Talk to us later this month and we'll be covering the usual inept preparations for the riots and parade....or maybe not.

10/08/2015 10:38:00 AM  
Anonymous Anonymous said...

All I hear about on here is pension bidness, and TIF talk.... I didn't know that everyone who works CPD has a degree in economics or finance--- of that is the case, why do a lot of guys work second half jobs doing security instead of doing some stock busting on wall street

10/08/2015 11:41:00 AM  
Anonymous Anonymous said...

CHICAGO (AP) The Chicago White Sox plan to change the look of U.S. Cellular Field next season.
______________________________________________
At first, I thought I was going to read that the sox were going to buy new teeth for their fans.

10/08/2015 11:42:00 AM  
Anonymous Anonymous said...

You know what this city needs. More basketball courts.

10/08/2015 11:42:00 AM  
Anonymous Anonymous said...

What about the Money Vanecko Stole,Why cant he pay it back,Coflict of Interest?

10/08/2015 11:47:00 AM  
Anonymous Anonymous said...

900 million dollars a year towards CHA. But the City is broke. Condo towers still going up downtown, 30 plus floors of units where the minimum real estate tax per year is 10 g's a year, but the City is broke. The City is making more revenue than ever in its history, but they're negotiating deals to borrow billions. Whoever said Rahm has no plans to fund the pension is right. He can't reward financial backers or buy votes if he gives hundreds of millions to pay the constitutionally-mandated obligations. Politicly, to him, shoring up our pensions is the equivalent of lighting that money on fire. Like the Joker did indeed some warehouse. It's all part of the plan...

It's the new Democrat play book. If you don't like a law, don't bother to get it changed constitutionally. Just don't follow it. The example has been set from the Presidency on down. They pick and choose which laws to obey. Like funding the pension.

How about it, FOP? Is there a plan to deal with this? Press releases to show the pensions are sustainable with proper funding that has been missing the past 20 years? Reminding the public just what it is we do, the sacrifices we make for this job and city, what it takes from us? Hammering the Mayor on his horrible budget that has money for everything except the pensions? A march to surround City Hall with other city workers to shut that entire block down? Storm the 5th floor? I'll take a misdemeanor pinch if it means fighting for the pension. What's this job without the pension anyway?

You could mobilize several thousand off-duty and retired officers overnight for a demonstration of some sort. I think these condescending smug asshole illiterate thief Democrat machine politicians need a reminder of what righteous angry men of courage and upright moral standing are capable of.

Are you guys, my fellow colleagues, going to let them get away with changing the rules of this game (i.e. the conditions and benefits that were guaranteed us when we signed on) while the game is still on? We've held up our end. We've given up a lot of personal freedom, forced to live in this expensive dangerous corrupt shithole, and go to a job everyday where it's in fashion to get shit on or worse. Are you guys going to take this laying face down ass up?

Enough is enough already.

10/08/2015 12:17:00 PM  
Anonymous Anonymous said...

Have there been more mayoral appointees indicted under 9.5 than at this point in Shortshanks' tenure ?

10/08/2015 12:36:00 PM  
Anonymous Anonymous said...

So, I Guess This Means, The Airplane Noise Reduction Movement, Here On The Northwest Side, Is Pretty Much, a Non Issue.

10/08/2015 12:53:00 PM  
Anonymous Anonymous said...

I ask since reading recent FOP 7 magzine that must have cost something to print and who paid for it?


10/08/2015 07:59:00 AM

The adds cut the monthly costs in half and pay for the postage.

Their looking for hair gel and cell phone advertiser adds to pick up the rest of the costs and to increases readership!

10/08/2015 01:03:00 PM  
Anonymous Anonymous said...

When does the Lawsuit by the FOP and the Pension board begin? How much more bad news are they waiting for? Even a 1st grader can do the math here. Our pension fund will be funded when we begin to pick up the fight. Not a day before....
We need to strike while the courts are still fair....It may soon be too late!

10/08/2015 02:50:00 PM  
Anonymous Anonymous said...

There's the
"Municipal Budget."

The set of books that everyone
is allowed to see.

And the set of books city hall
desperately tries to conceal
from the prying eyes of the
tax paying chumps, churls
and suckers needed to keep
paying the freight.

There are also those monies generated by the Chicago
Economic Engine and percolated through city hall...

The "skim" is the "corruption tax."

Untold $B I L L I O N S totally off the books and
hidden from the tax payers...

Rahm has his minions posted at every local media and blog
site to hijack the narrative when this topic comes up...

"The working man is a sucker..."

Meanwhile...
Worked for and well earned pensions and health insurance
are being gutted in order to make everyone "equal" while your
Government is waving in New Democratic voting blocs to render
YOUR comparative power at the ballot box moot, void and even irrelevant.

Next, they're going to curtail civil liberties and take away your
means of armed self defense to make everyone "safe."

Take a good look at these people being waved in...
They're the ones being groomed to fight you for what you're
trying your damndest to hold on to.

Heh...

Sparkle-Farts called you a bunch of bitter clingers to your guns and religion...

Talk about a telegraphed punch?

10/08/2015 03:17:00 PM  
Anonymous Anonymous said...

Anonymous Anonymous said...
Rahm has no intention of shoring up and honoring our pensions.

Then why is he raising the property tax by 550 million. To put in our pension,thats why

10/08/2015 03:18:00 PM  
Anonymous Anonymous said...

Give it up with the pensions. Pensions are a thing of the past. Save a little every payday and invest it. Start a 401K or IRA, but forget about pensions. In our modern democrat inspired economy cities, states etc. cannot afford them.

Saving a little every payday and investing it isnt going to get you anywhere near a pension for retirement Even if the city put in their 2 to one dollar ration, you would still have a hard time beating the pension. It was offered to you when you took the job and is guaranteed by the state constitution and upheld by the courtsd,all the way to the Illinois Supreme Court.
So quit talking your shit about no pensions

10/08/2015 03:24:00 PM  
Anonymous Hot Pursuit said...

Wheres the money going....not the money to be raised, the money over the years....things that make you go hmmmm

10/08/2015 04:07:00 PM  
Anonymous Anonymous said...

Blogger SCC said...
To the cranky sCrUBS fan:

If you had done any sort of reading here at all, you know that we don't follow baseball...haven't for years, sCrUBS or SUX.

We follow the Blackhawks and...regrettably...the Bears, mostly for comic relief nowadays.

Besides, they won a single best-of-one in-bracket game and you think it's a pennant? Talk to us later this month and we'll be covering the usual inept preparations for the riots and parade....or maybe not.

10/08/2015 10:38:00 AM

Agreed. Sick of hearing about it and seeing it on the news. Fans filling the street in wrigleyville like the series was over. Im not hating just stating the obvious. They win ONE game and everybody is in Utopia. When the do lose in the playoffs, they will blame some fucking goat, some poor sap whose natural reaction was to respond to a foul ball. Blame everyone but themselves. Sickening.

10/08/2015 04:17:00 PM  
Anonymous Anonymous said...

I seem to recall that there is some kind of restriction on how these funds are allowed to be used, and I doubt general obligations of the city are one of the allowed ways the funds can be spent.

10/08/2015 04:29:00 PM  
Anonymous Anonymous said...

So Barbara Bird Bennett is going to plead guilty to fraud

Hey Mayor you can sure pick the great ones. Now someone has to find what McJersey has done?
beside being a goof that is.

10/08/2015 04:33:00 PM  
Anonymous Anonymous said...

In the mean time assholes, keep writing those parkers, movers, anov's, tvb's, tows and impounds. Keep bringing in those arrests too. The city loves ya.

10/08/2015 06:14:00 PM  
Anonymous Anonymous said...

"convert the TIF money,,,,even the liberal media calls it " a mayoral slush fund""

10/08/2015 09:41:00 AM

THERE IS NO TIF MONEY.

It is a giant scam, a mere loan backed by collateral-in-the-sky.

"To provide the needed subsidy, the urban renewal district, or TIF district, is essentially always drawn around hundreds or thousands of acres of additional real estate (beyond the project site) to provide the needed borrowing capacity for the project or projects. The borrowing capacity is established by committing all normal yearly future real estate tax increases from every parcel in the TIF district (for 20–25 years, or more) along with the anticipated new tax revenue eventually coming from the project or projects themselves. If the projects are public improvements paying no real estate taxes, [or if they fall flat on their face and attract no new businesses] all of the repayment will come from the adjacent properties within the TIF district.

This means you.

Please, brethren and sistren, please read and learn. Someone trips you in front, another of the crew jostles you from behind, and you miss the hand going for your wallet until you are eight stops farther down the line.

https://en.wikipedia.org/wiki/Tax_increment_financing

10/08/2015 06:34:00 PM  
Anonymous Anonymous said...

Just start the layoffs already ! Cmon I dare ya! !

10/08/2015 06:56:00 PM  
Anonymous Anonymous said...

"Remember, Rahm is pushing to raise taxes by nearly $600 million or by golly, he's going to lay off 4,000 cops and 2,500 firefighters!..."

Why does anyone believe anything that this guy says, HE KNOWS he can't lay off ANY Police Officers or Firefighters. He is the boy that cried wolf, and the geniuses in the Black caucus believe his nonsense and then do whatever he tells them to do. All of the alderman are so terrified of this guy shouting at them, they abandon their oath to serve their constituents and then bend over for the mayor while he sits in the backseat of the Tahoe laughing at them. Today we see his second cabinet member indicted for misconduct in government, yet everyone gives him a pass and allow him to do as he and his cronies see fit.







10/08/2015 07:03:00 PM  
Anonymous Anonymous said...

What about the bonds?

10/08/2015 07:55:00 PM  
Anonymous Anonymous said...

That's why no one will ever believe a word that comes out of a Chicago politician's mouth. All lies to fool the media. How are we to believe the property tax money will ever go to fixing the pension the lying politicians destroyed? Snakes! P.S. Nice job media! Your a joke!

10/08/2015 08:08:00 PM  
Anonymous Anonymous said...

I would sure like to be able to buy some of those securities. Rates have to be high, tax free and protected from the pension debt. Let me know where to buy them. My guess is the average guy like me won't have a chance. The big money guys and the institutional investors will grab all the securities

10/08/2015 08:29:00 PM  
Anonymous Anonymous said...

Layoff that many cops and firefighters and this city will burn.

10/08/2015 08:59:00 PM  
Anonymous Anonymous said...

Former CPS PRESIDENT BBB said the same "look at all that money"!

10/08/2015 09:05:00 PM  
Anonymous Anonymous said...

Anonymous said...
Give it up with the pensions. Pensions are a thing of the past. Save a little every payday and invest it. Start a 401K or IRA, but forget about pensions. In our modern democrat inspired economy cities, states etc. cannot afford them.

10/08/2015 08:03:00 AM

___________

The people who are invested in a pension are owed a pension. Perhaps in the near future and for new hires, there will not be a pension. The officers who have worked for many years and contributed to the pension are owed a pension, however. It sounds like you do not have a pension. That is your problem and the result of your career decisions.

10/08/2015 10:03:00 PM  
Anonymous Anonymous said...

Great article showing the difference in mentality between Chicago and Jerusalem when it comes to crime. Imagine our anti-gun mayor saying this.

https://www.rt.com/news/318064-jerusalem-mayor-gun-palestinians/

The best part is this:

“One advantage that Israel has is that there are quite a few ex-members of military units with operational combat experience,” explained Barkat, who served as a paratrooper in the IDF for six years. If we look at the statistics in Jerusalem and elsewhere, we see that aside from the police, civilians carrying weapons have foiled terror attacks. They will increase the likelihood of fast intervention.”

10/08/2015 10:28:00 PM  
Anonymous Anonymous said...

"Daley (and now Rahm) learned from his buddies in the Mob and Wall Street how to do this. The Mob called it Busting Out a Business. You go into a well run, going concern with good credit and either sell every asset or better yet, mortgage it two or three times, and make that money disappear into your pockets and the pockets of your fellow mobsters/politicians. You use the available credit and reputation. Bring the stuff in the front door and sell it out the back door for a nice discount. Just a whole lot of "shrinkage." You can run this scam for awhile before the creditors get suspicious. Then boom the whole place goes up in smoke, all the records are lost, "it's not my fault, blame those guys, blame the business cycle, not my fault."

Nobody needed to learn any of this by going to Wall Street or joining the Mafia. All you needed to do was watch "Goodfellas." The entire premise was covered in the movie when Paulie Cicero became a partner in a restaurant.

10/08/2015 10:57:00 PM  
Anonymous Anonymous said...

"Just looking at the nuts and bolts of the deal, it’s been pretty impressive what’s going on there,” said Paul Mansour, head of municipal research at Hartford, Connecticut-based Conning, which holds O’Hare debt among its $11 billion of tax-exempt securities and is reviewing the deal."

..and here we have our noses rubbed in "the monetization of debt" -- which is instantly marked out as "tin-foil hat material" the moment anyone else who is not getting hit off points a finger at it, clears their throat about to say something when "Security!" hauls them out the back of the room.

Think about it.

10/09/2015 12:24:00 AM  
Anonymous Anonymous said...

"Daley (and now Rahm) learned from his buddies in the Mob and Wall Street how to do this. The Mob called it Busting Out a Business. You go into a well run, going concern with good credit and either sell every asset or better yet, mortgage it two or three times, and make that money disappear into your pockets and the pockets of your fellow mobsters/politicians. You use the available credit and reputation. Bring the stuff in the front door and sell it out the back door for a nice discount. Just a whole lot of "shrinkage." You can run this scam for awhile before the creditors get suspicious. Then boom the whole place goes up in smoke, all the records are lost, "it's not my fault, blame those guys, blame the business cycle, not my fault."

Nobody needed to learn any of this by going to Wall Street or joining the Mafia. All you needed to do was watch "Goodfellas." The entire premise was covered in the movie when Paulie Cicero became a partner in a restaurant.


You forgot the, "Fuck you, pay me".

10/09/2015 01:19:00 AM  
Anonymous Anonymous said...

So, I Guess This Means, The Airplane Noise Reduction Movement, Here On The Northwest Side, Is Pretty Much, a Non Issue.

10/08/2015 12:53:00 PM



If you honestly believed that anything was going to be done about those runways, you're dumber than a bag of hammers. Already a done deal. Already being worked on and implemented.

10/09/2015 01:23:00 AM  
Anonymous Anonymous said...


10/08/2015 03:17:00 PM

Anonymous Anonymous said...
Anonymous Anonymous said...
Rahm has no intention of shoring up and honoring our pensions.
- ----- -
Then why is he raising the property tax by 550 million. To put in our pension,thats why

10/08/2015 03:18:00 PM

-------

Right.
Until something flashier, or sparklier, or more enticing rolls by his window.
The mayor has ADHD when it comes to fiscal responsibility.


10/09/2015 01:24:00 AM  
Anonymous Anonymous said...

Anonymous Anonymous said...


OT
Happy Anniversary
October 8, 1871 Great Chicago Fire

10/08/2015 10:15:00 AM

Or, maybe - 'this date marks the tragic anniversary of the Great Chicago Fire'.

10/09/2015 01:29:00 AM  
Anonymous Anonymous said...

I believe Rahm talked about reducing the number of Aldermen when he was first elected. Smart move, now they are all petrified of him. Do we need 50 Aldermen... absolutely not. Most are part time Aldermen. This city. county and state are a joke.

10/09/2015 01:30:00 AM  
Anonymous Anonymous said...

How about laying off 30 Aldermen....

10/09/2015 01:31:00 AM  
Anonymous Anonymous said...

>>>Anonymous said...
When does the Lawsuit by the FOP and the Pension board begin? How much more bad news are they waiting for? Even a 1st grader can do the math here. Our pension fund will be funded when we begin to pick up the fight. Not a day before....
We need to strike while the courts are still fair....It may soon be too late!

10/08/2015 02:50:00 PM<<<

As if we could strike as if the courts were fair...
If Trump gets elected we have a chance to clean out this rathole.

Daley and now Rahm have always owned the Pension Board and the FOP presidents. Just look where they at the cushy six-figure second pension jobs they end up after leaving office. Where is Deano going?

10/09/2015 01:40:00 AM  
Anonymous Anonymous said...

Dear SCC

About covering the Cubs...
Lighten up man. I'm not much of a Cobs fan either and I couldn't name one player except pitcher Arietta.

But COME ON. It's once in a century.

10/09/2015 01:58:00 AM  
Blogger MTS said...

I had MSS appointment a few days ago. Asked if the nurses were getting dumped back to sreturn as Rham promised. Nobody had a clue as to what I was talking about. Mind MSS is at HQ. So much for moves.

10/09/2015 05:47:00 AM  
Anonymous Anonymous said...

The people who are invested in a pension are owed a pension. Perhaps in the near future and for new hires, there will not be a pension. The officers who have worked for many years and contributed to the pension are owed a pension, however. It sounds like you do not have a pension. That is your problem and the result of your career decisions.


And as I always say. Take my pension, and you definitely won't like the way I act.

10/09/2015 05:49:00 AM  
Anonymous Anonymous said...

Anonymous Anonymous said...
I seem to recall that there is some kind of restriction on how these funds are allowed to be used, and I doubt general obligations of the city are one of the allowed ways the funds can be spent.

10/08/2015 04:29:00 PM


Well who says there are restrictions? That is not their money, that is our tax money. Government doesn't produce anything, they get money from taxpayers. That is like me saying I shouldn't have to pay my income tax because I put a restriction on how my money is used. Fuck them. The time is nearing for torches and pitchforks.

10/09/2015 09:04:00 AM  
Anonymous Anonymous said...

Layoff that many cops and firefighters and this city will burn.
=======
the alternative might be to reduce salaries to an affordable level. any volunteers for that? my guess is they allow attrition to continue to keep a lid on these costs, and maybe add some incentives for some to retire early. that has made a huge difference in the private sector over time for ailing companies. no reason it can't work in Chicago.

The city is headed for the dump anyway. Just too many expenses and not enough revenue, and every time you raise taxes it pushes a few taxpayers away. Eventually that will catch up with you.

10/09/2015 09:08:00 AM  
Anonymous Anonymous said...

"Condo towers still going up downtown, 30 plus floors of units where the minimum real estate tax per year is 10 g's a year..."

10/08/2015 12:17:00 PM

...but where will the money come from for people to buy these places when there is no longer any production, no creation of wealth? Just endless "services" and speculation, "consultants" piled on top of "managers" and "coordinators" and "facilitators," all somehow feeding off each other like a giant ball of red ants as the flood sweeps the whole thing downstream...

...and at the bottom?

Urban Outfitters is asking employees to work for free

Fri, Oct 9, 2015, 3:44 AM EDT

"URBN, Urban Outfitters' parent company, wants its employees to volunteer for extra shifts.

"As the holiday season approaches, Urban Outfitters is hoping that its employees are in the giving spirit.

"Gawker published an email asking the full-time employees at URBN, Urban Outfitters' parent company based in Philadelphia, to work without pay during five weekend days in October.

"The email explains that October is the busiest month of the year for URBN (which houses Urban Outfitters, Free People, and Anthropologie), and therefore, URBN needs its employees' help.

"According to the email, URBN wants these salaried employees to "volunteer" to "pick, pack, and prepare packages for shipment."

"The most bizarre part? URBN calls this a "team-building activity."

http://finance.yahoo.com/news/urban-outfitters-asking-employees-free-150613044.html

What can you say?

10/09/2015 10:10:00 AM  
Anonymous Anonymous said...

Bring in the 82nd and 101st Airborne to occupy this dump.

10/09/2015 12:33:00 PM  
Anonymous Anonymous said...

Rahm what a goofy move does anyone believe he would lay us off? No way no how think killings are bad now? Lay off thousands of coppers lol!

10/09/2015 12:42:00 PM  
Anonymous Anonymous said...

Don't raise my taxes! Lay me off....

10/09/2015 12:51:00 PM  
Anonymous Anonymous said...

02:26 am - Yes, how true. Remember when Jake Guzik, an accountant, told al Capone that he could steal more with his pencil than Capone could steal with his gun? The same holds true today. Even more problematic is the sad fact that Rahm used to work for Rauner. Two moguls armed with pencils And the casino which would bolster our pensions?? No action on bill 777. But a new Ferris Wheel for Navy Pier, a 100 M $ pledged for the Obama Library, a stadium for De Paul U, remodeling Midway Airport, and don't forget the "rising star" on New Years Eve.
Thank you SCC for being the only entity that presents a clear picture of a very murky scenario. Pretty good for a working PO!!

10/09/2015 01:32:00 PM  
Anonymous Anonymous said...


Anonymous Anonymous said...
The people who are invested in a pension are owed a pension. Perhaps in the near future and for new hires, there will not be a pension. The officers who have worked for many years and contributed to the pension are owed a pension, however. It sounds like you do not have a pension. That is your problem and the result of your career decisions.


And as I always say. Take my pension, and you definitely won't like the way I act.

10/09/2015 05:49:00 AM


You're representative of the reason why only Policemen are
mandated to register their firearms in Chicago... ;^)

You scare the shit out of people like Rahm, local media,
yellow-pinky progressives and members of the Gold Coast/
North Shore $25K a plate fundraiser and cocktail partiers
who have every intention of pointing and laughing at YOU
when Rahm/Rauner/Wall Street/LaSalle Street implode your
sweet pension honey-pot from under you and redirect the monies
to themselves...

The very notion of Policemen VIOLENTLY contesting that which
they've so artfully slid in place to happen, makes a lot of people
VERY uneasy...

They would rather Dude Inc. start lighting shit on fire
than Policemen taking up arms for a "non law enforcement purpose"
like pension thievery.

"WAAAHHH! Don't you guys have RULES against this
sort of behavior? You're PUBLIC SERVANTS for chrissakes!"

Why is it ok to steal from Policemen and expect them not
to fight back but adhere to rules and laws that have been
intentionally diminished in meaning and stature?

Hell... The mayor of Chicago and even the President of the
United States routinely do end-arounds, circumventions and
apply the most tortured interpretation/application to rules and
laws as they deem fit for their own purposes...

"Why are you Cops so angry, rebellious and hateful?
We wish you would stop that and start acting like the
public servants we pay you to be or else we're going
to not like or support you guys very much anymore.
You scare us with your mean and nasty tone."

10/09/2015 02:15:00 PM  
Anonymous Anonymous said...

"The email explains that October is the busiest month of the year for URBN (which houses Urban Outfitters, Free People, and Anthropologie), and therefore, URBN needs its employees' help.

"According to the email, URBN wants these salaried employees to "volunteer" to "pick, pack, and prepare packages for shipment."

"The most bizarre part? URBN calls this a "team-building activity."

http://finance.yahoo.com/news/urban-outfitters-asking-employees-free-150613044.html

What can you say?

10/09/2015 10:10:00 AM

I would call it a 'shop your resume elsewhere' opportunity.

10/09/2015 02:41:00 PM  
Anonymous Anonymous said...

So, I Guess This Means, The Airplane Noise Reduction Movement, Here On The Northwest Side, Is Pretty Much, a Non Issue.

10/08/2015 12:53:00 PM



If you honestly believed that anything was going to be done about those runways, you're dumber than a bag of hammers. Already a done deal. Already being worked on and implemented.

People need to newcomers involved. It's going to take time and more people raising their voices. Join FAIRchicago.org and start volunteering. There will be changes. This is a nationwide and global movement that will not be stopped and it's not going away, as much as the airlines AND FAA want you to believe.

10/09/2015 04:13:00 PM  
Anonymous Anonymous said...

Anonymous Anonymous said...
CHICAGO (AP) The Chicago White Sox plan to change the look of U.S. Cellular Field next season.

The team announced Thursday that it will put three new video boards in the ballpark. The main center-field scoreboard will be replaced, as will the auxiliary screens in left and right field. The changes, at a cost of $7.3M, will be paid for by the Illinois Sports Facilities Authority, which owns the stadium.

White Sox senior vice president for sales and marketing Brooks Boyer said the board in center field would be between 7,000 and 8,000 square feet, replacing what's currently the smallest screen of its kind in the major leagues. The screens in right and left will be around 2,500 square feet.

Boyer said the ballpark that opened in 1991 would undergo other changes for next year, but he didn't elaborate. He said new screens have been on the team's wish list for a ''long time,'' adding the new video boards the Chicago Cubs installed at Wrigley Field weren't a motivation.

''It's great that the Cubs got their new boards,'' Boyer said. ''More motivated by the fact that right field and left field were falling apart and the center field one was the smallest in baseball.''

10/08/2015 06:39:00 AM


Ricketts wants to improve his stadium, at his cost, and Rahm rolls him over a barrel. Reinsdorf gets tax money to do more.

10/10/2015 09:49:00 AM  
Anonymous Anonymous said...

So,the money's there,but our elected officials want to stick it in everyone's ass.

Thank you,Aldermen.

10/11/2015 11:13:00 AM  
Anonymous Anonymous said...

Lay off Policeman and Firemen?

Nonsense. Just scare tactics.

10/11/2015 11:15:00 AM  
Anonymous Anonymous said...

He is not really going to lay off any cops he will simply deduct the number from the budgeted role for the police offficers that are actually budgeted for. You know the 3k that are short staffed. It is really a win win for him he clears the costs and that frees him to make the demand for more money to staff the shortages. All the while he continues to have the same budgeted amounts
for general fund use. Give the man a cookie, and hope he chokes on it.

10/14/2015 09:16:00 AM  

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