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Articles Archive for April 2010

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[26 Apr 2010 | 7 Comments | ]

PARIS–I’ve spent the past couple of weeks puttering around Paris taking care of some unpleasant but important business, all the while getting calls and e-mail queries from all kinds of media—mainstream to miniblogs.
What’s happened here during my stay? Well, Greece is going broke and Portugal and others are teetering on the edge. An unpronounceable volcano in Iceland belched enough ash into the air to bring world airline traffic to a dead halt.

The right-wing party of French President Nicholas Sarkozy lost virtually everywhere in the country during the recent mid-term elections, …

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[26 Apr 2010 | One Comment | ]

Build a Noah’s Ark. A deluge is imminent.
Owners of Chicago and suburban residential real estate can expect a hefty property tax increase when the second installment of the 2009 bill is issued later this year – probably after the Nov. 2 election, so as to minimize voter fury. And then for several years thereafter.

My prediction: The hikes will be in the realm of $600 to $1,500 per parcel. That means a home or condominium owner, who already paid 55 percent of their total 2008 tax bill as 2009’s first installment, …

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[25 Apr 2010 | No Comment | ]

Please join Tom Roeser as he hosts former Speaker of the Illinois House, Lee Daniels and Chicago Daily Observer Political Analayst Russ Stewart on Political Shootout tonight at 8PM on WLS-AM 890.

Listen Live Here
Call in here +13125918900

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[24 Apr 2010 | 2 Comments | ]

I am not quite sure how anyone can reach adulthood without getting a basic understanding of taxation and accounting in the United States, but Mark Brown at the Sun-Times, and Greg Hinz of Crain’s Chicago Business have formed a vacuum of knowledge that is sucking in the rest of the Chicago media.  The release of Bill Brady’s tax returns has dumbfounded our two leading lights, who are completely flummoxed by the concept that money losing businesses, like Brady’s real estate companies over the last few years, don’t pay income tax.

Brown …

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[24 Apr 2010 | One Comment | ]

News that Republican gubernatorial nominee Bill Brady’s financial losses meant that he has been spared from paying federal or state income taxes as was legally justified for a realtor who suffered huge losses during the recession should be a plus for him. To put it baldly…in an ugly-stated truism from the 1930s: You can’t take pants off a bare a–. Thus he is the perfect embodiment of Illinois citizen who has been demanding curtailment of state spending. His 2008 income was negative…as in loss…$116,679.

And if Old Watery …

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[24 Apr 2010 | No Comment | ]

Will the Dems close the door on the Giannoulias Senatorial campaign?

Feds shuts down bank owned by Giannoulias

The Associated Press – Deanna Bellandi – 32 minutes ago
Broadway Bank, which was heavy into real estate loans and lost $75 million last year, had been given until Monday to raise about $85 million in new capital, …
MB Financial Bank Acquires Broadway Bank and New Century Bank‎ – MarketWatch (press release)
R.I.P. Broadway Bank‎ – Chicago Tribune
Regulators seize bank linked to Senate candidate‎ – Reuters
USA Today – Wall Street Journal
all 465 news articles »

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[23 Apr 2010 | 4 Comments | ]

Chuck Percy was a guy not unlike Mark Kirk. Both were North Shore…Percy the decided disadvantaged one, was born in Florida to an unsuccessful car salesman and was reared in Rogers Park and lived near the El tracks. Had an abounding interest to stand well with the gentry just a few miles north…Evanston, Winnetka, Wilmette, Kenilworth. And so he adopted the trademarks that were then fashionable in the `40s.
Including a tony phony eastern accent. He became a self-made multimillionaire by conning a Christian Scientist owner of a small factory named Bell …

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[23 Apr 2010 | One Comment | ]

Last year the federal budget deficit was $1.4 trillion, or 10% of GDP, the largest “peacetime” deficit on record. This year will show some improvement, but not much, with a deficit in the vicinity of 8% of GDP.

Meanwhile, the Obama Administration projects that under its own policies – including higher taxes for the “rich” and an end to hostilities in Iraq – the deficit will never get down to the 3% of GDP it believes is sustainable over the long run, much less the 1.2% that prevailed as …

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[23 Apr 2010 | No Comment | ]

Sometimes you have to take your political lenses out and look at the actual economic statistics in order to gauge whether we’re on the road to recovery or not. Without getting personal, I’m watching many of my friends on certain cable stations attempt to trash the March employment numbers released last Friday. Don’t do it, folks. The numbers were solid.
What’s my point? Credibility. Conservative credibility.
No one has written more about the future tax-and-regulatory threats from the big-government assault of Obamanomics. But most of that is in the future. The current …

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[23 Apr 2010 | 2 Comments | ]

The public-sector Unions are showing their muscle in Springfield and using that old canard that “the children will suffer” unless the General Assembly moves to give the employees a pay raise. That’s a lot of rot.

Illinois is now second only to California in its billions of dollars of debt. But the only thing we hear from Governor Quinn and General Assembly leaders is a push to raise taxes once again. Whoa there! There is another way and it won’t cause even more manufacturers, businesses, and residents …