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Economy
PI Original
by Micah Maidenberg
11:44am
Thu Aug 26, 2010

A Slow Housing Market Means Tough Times For Public Sector Budgets

When Illinoisans aren't buying or selling homes, public sector agencies feel the pinch.

Quick Hit
by Micah Maidenberg
12:21pm
Wed Aug 25, 2010

Daley On TIF Talk: "Everybody Wants To Raid Something"

Chicago Mayor Richard Daley unleashed a barrage of insults against the financial acumen of unnamed state legislators at a press conference on the North Side yesterday. As noted by the Chicago News Cooperative's Dan Mihalopoulos, the mayor didn't specifically identify State Rep. John Fritchey, the Chicago Democrat who's now running for a seat on the Cook County Board of Commissioners. But Daley's remarks came two days after Fritchey announced that he'd introduce legislation in Springfield calling for non-appropriated funds stationed in the city's TIF districts to be returned to local taxing bodies at the end of each fiscal year. If passed, the bill would send roughly $535 million back to the Chicago Public Schools, which like many government bodies is struggling with deep budget deficits. But in what the News Cooperative characterized as "caustic" remarks, Daley told reporters this in discussing the TIF program and state legislators:

Everybody wants to raid something. I’m not going to listen to state government for financial advice. I’ll tell you one thing: The city of Chicago should not listen to the federal or state government for financial advice. We would be bankrupt today. We [should] not listen to them, your state senators or representatives. No way. Look what they’ve done with the state budget and now they’re telling us what to do with the city budget. No way.

While the top mayoral aides have not specifically ruled out declaring a TIF surplus and sending those dollars back to various city and county-based taxing bodies, Daley's comments yesterday are in line with his recent full-throated defense of how his administration uses and controls TIF dollars, including grants to profitable downtown corporations. With three public hearings about the Daley Administration's 2011 budget scheduled to start next month and a Fritchey aide recently telling Progress Illinois the representative will introduce the TIF surplus legislation within a few days, the issue appears to be coming to a head. But with the TIF program, Daley seems content with the status quo.

This post has been updated to correct how much would be sent back to CPS in TIF funds if Fritchey's bill was signed into law.

Quick Hit
by Adam Doster
11:05am
Wed Aug 25, 2010

The Deadline Looms For Put Illinois To Work

The federal stimulus package, much derided by Republicans in Illinois, is doing wonders for the economy. The Congressional Budget Office released a report yesterday showing that the law created 3.3 million jobs in the second quarter of 2010 alone and may have prevented a double-dip recession. One successful program that owes its existence to the recovery bill is the Temporary Assistance for Needy Families (TANF) Emergency Fund, which has provided private employers subsidies to hire (for $10-per-hour) folks who are eligible. For Decatur's Ashlee Tate, as well as roughly 30,000 other Illinois residents, the Put Illinois To Work program has been a godsend. The Decatur Herald-Review reports:

"It's been three or four months now since I haven't tried looking for a job," Tate said. "This really helps out a lot as far as getting experience and having a reference if I find another job afterward."

Although Democrats on the U.S. House Ways and Means Committee have introduced new legislation that would extend funding for the TANF program through FY 2011, the threat of a Republican filibuster in the U.S. Senate means the chances of the bill passing before September 30 are slim. That's a big disappointment for Decatur Township Assessor Tom Greanias, who has taken on 16 temporary workers using the subsidies. "I wish I had money to hire them," he said. "I'll be approaching my board based on the success of some of these people that have really worked out well to ask for an increase in my budget to contract these people."

Quick Hit
by Micah Maidenberg
3:35pm
Tue Aug 24, 2010

Hotel Workers, Jewish Leaders Call For Hyatt Boycott

Hyatt workers and supporters announced today they will ask patrons to boycott three Chicago Hyatt locations as contentious negotiations over a new contract between the firm and UNITE-HERE Local 1 drag on. Some 250 local Jewish leaders, citing the Torah, pledged their support for the boycott call earlier this afternoon. Here's Rabbi Brant Rosen explaining their position:

Next week, the battle for a new collective bargaining agreement between the Chicago-based hotel behemoth and Local 1 will reach its one-year anniversary. Over the past few months, Hyatt workers and their supporters have sought to escalate pressure steadily on the firm, which union officials say is trying to take advantage of the economic downturn to lock-in a contract that would flatten wages and shrink health care benefits for workers. In May, employees at the Hyatt Regency conducted a wildcat strike. In June, workers picketed the company's annual shareholder's meeting. Last month, Local 1 members took to the streets outside of the Park Hyatt to stage a massive protest. A strike at the chain's Chicago properties is already authorized, and could begin if Local 1's Hyatt bargaining committee calls for it.

PI Original
by Josh Kalven
8:20am
Mon Aug 23, 2010

"We're Here To Work": Surviving The Recession (VIDEO)

A short documentary on the unemployment crisis -- and the spirit of those surviving it -- as seen through the eyes of Chicago's jobless.