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[28 Jul 2015 | No Comment | ]

Crain’s Chicago Business reports:

Fitch Ratings cut the Chicago Board of Education to junk bond status, warning of a possible cash crunch to pay day-to-day-expenses.

The company today lowered the Board of Ed’s rating to BB+, from BBB-, nearly two months after Moody’s Investors Service also stripped the board of its investment grade rating. Today’s downgrade comes after Chicago Public Schools already saw its cost to borrow climb in April amid the uncertainty created by a federal investigation and a looming annual budget deficit of more than $1 billion.

The action adds to the challenges confronting Forrest Claypool, whom Mayor Rahm Emanuel named this month as chief executive of the school system.

“The downgrade reflects the limited progress the Chicago Public Schools (CPS) has made in addressing a structural budget gap approximating 20% of spending,” the statement says. As a result, “the district is highly dependent on borrowing in the upcoming months to finance on-going operations,” according to the statement.

The great moments of public education.

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[27 Jul 2015 | Comments Off | ]

Non-Profit To Test 'Wabash Lights' After Successful Kickstarter Campaign

A Beta test is coming near the Palmer House Hilton this fall, the project’s founders say. 

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[27 Jul 2015 | Comments Off | ]

'Minecraft' to Hit the Big Screen at Gamer Tournament

Tuesday’s tournament will precede a six-week video game league in the fall. 

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[27 Jul 2015 | No Comment | ]

CDOBS Syndicate

Home Page Top Stories on DNAINFO.com – Sunday, July 26, 2015 | 5:56pm: Police Beef Up Wicker Park Fest Security After Shooting Saturday Night
Steve Bartin: Chicago’s 9 percent cloud tax will include real estate listings, prices
Steve Bartin: Chicago tops in fatal police shootings among big U.S. cities
Steve Bartin: Democrats show their hand in game of budget poker
Steve Bartin: Yes, ‘ObamaNet’ Is Here: Meet ConnectHome, the ‘Free’ Internet That Costs Taxpayers Much More Than a Private Sector Plan
Home Page Top Stories on DNAINFO.com – Sunday, July 26, 2015 | 12:54pm: …

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[26 Jul 2015 | Comments Off | ]

Police Beef Up Wicker Park Fest Security After Shooting Saturday Night

After a man was shot on the main strip of Wicker Park, police say they’ll have an increased presence.

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[26 Jul 2015 | No Comment | ]

The Hill reports:

One amendment at a time, Democrats are revealing their demands for a year-end budget deal.

Backed by veto threats from President Obama, Senate Democrats are refusing to allow votes on spending bills that do not lift the budget caps under sequestration. Democrats in the House are also refusing to cooperate.

But even as they have criticized the GOP spending bills as a waste of time, Democrats have participated in the committee markups of the legislation.

During each of those sessions, Democrats offered amendments that would provide more money to various programs and agencies — effectively giving the GOP a roadmap of their spending priorities.

Welfare-Warfare state in America.