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Rahm Emanuel

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PI Original
by Ellyn Fortino
6:43pm
Wed Feb 10, 2016

Chicago City Council Roundup: The Brouhaha Over Council Oversight & Plan To Slap Cab Riders With Another Surcharge

Progress Illinois provides highlights from Wednesday's Chicago City Council meeting, which covered everything from city council oversight to the "tampon tax."

PI Original
by Ellyn Fortino
9:13pm
Thu Feb 4, 2016

CTU Members Rally For A Fair Contract, Against Proposed Budget Cuts (VIDEO)

The Chicago Teachers Union held a massive downtown rally Thursday evening, during which 16 people were arrested for protesting inside Bank of America. Progress Illinois was there for the demonstration.

Quick Hit
by Ellyn Fortino
1:51pm
Wed Feb 3, 2016

CTU Closes Bank Of America Account Over 'Toxic' Interest Rate Swaps (VIDEO)

One day after Chicago Public Schools officials announced $100 million in proposed budget cuts, the Chicago Teachers Union closed its Bank of America account on Wednesday in protest over the controversial interest rate swap agreements held between the bank and school district.

CTU says cash-strapped CPS, which is facing a $480 million budget hole this fiscal year, has lost more than $502 million to "predatory" swap deals with financial institutions, including Bank of America. According to the union, Bank of America has collected $77 million in profits off of its interest rate swaps with CPS.

"What we hope is that our withdrawal of funds will spark people all over this city, all over this state and all over the country to start withdrawing funds from Bank of America until they give back some of the ill-gotten gains they've made off the backs of our students," CTU Vice President Jesse Sharkey said outside the Bank of America at 135 S. LaSalle St.

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