The private-equity firm that..(laid of the employees)… enjoyed a more satisfying relationship with the company.
High-risk debt issued by BWAY helped Chicago-based Madison Dearborn Partners LLC acquire the manufacturer in June 2010 for $915 million. In that partially debt-financed buyout, Madison Dearborn put up just $294 million of its own cash. A few months later, it paid itself a $138.4 million dividend from the proceeds of a BWAY junk-bond sale it helped arrange. Then, late last year, it sold BWAY to another private-equity firm in a leveraged buyout for $1.24 …
Maybe the best thing about the Plow Horse Economy is that it doesn’t give up. It keeps on plowing like a good plow horse should. Don’t get us wrong, we watch all the data and take the gait of our horse seriously. Every once in a while there is a weak step, but almost immediately there is a strong one to offset it. All systems look like a go.
For years now, predictions that the Plow Horse was headed for the glue factory have made the headlines, but with the Dow …
From the Washington Post
U.S. Education Secretary Arne Duncan told a group of state schools superintendents Friday that he found it “fascinating” that some of the opposition to the Common Core State Standards has come from “white suburban moms who — all of a sudden — their child isn’t as brilliant as they thought they were, and their school isn’t quite as good as they thought they were.”
Yes, he really said that. But he has said similar things before. What, exactly, is he talking about?
image Carol Spizzirri and Arne Duncan (Duncan in …
Per Dick Durbin, Sen. Durbin keeps getting misled by the Obama Administration
The number two Senate Democrat also acknowledged that he, in addition to President Barack Obama, told people that under the new law, if you like your plan, you can keep it.
“I said it because I believed it. Now I know that I should have added that for 98 percent of American people, that is exactly true. For the other two percent who are in the individual market, there are frequent changes in policies,” Durbin said.
When pressed about the talking …
From Jan Schakowsky in Politico
In my jewelry box and often on my neck is an orange coral bead necklace, a special treasure that far exceeds its actual value for me because it belonged to my friend and mentor, Dawn Clark Netsch.
I first met Dawn in 1972 when she took on the Chicago political machine and won a seat in the Illinois Senate. I stood at bus stops along with other idealistic, grass-roots supporters handing out her literature, excited about this smart woman going to Springfield. It was the first election …
This man is a heartbeat away from being the President of the United States
From Sen. Dick Durbin
Many Republicans searching for something to say in defense of the disastrous shutdown strategy will say President Obama just doesn’t try hard enough to communicate with Republicans. But in a “negotiation” meeting with the president, one GOP House Leader told the president: “I cannot even stand to look at you.”What are the chances of an honest conversation with someone who has just said something so disrespectful?
From the White House via Politico
White House press secretary Jay Carney said Sen. Dick Durbin’s claims that a Republican House leader told …
There is, in Illinois, an official Department of Employment Security, which handles unemployment compensation and addresses wage claims. There is also, unofficially, a “Division of Re-Election Security,” which comprises the state constitutional offices of treasurer, comptroller, attorney general and secretary of state.
Get elected to any of those offices, and it’s a lifetime gig. Employment security, meaning re-election, is guaranteed.
Here’s a fact: In 21 statewide elections since 1952, spanning 60 years, 33 incumbents occupying those offices sought re-election, and a 28 – or 85 percent – won. The most recent loser …
From the May 2, 2012 Chicago Tribune
Two years into his reign as Chicago’s longest-serving mayor, Richard M. Daley took advantage of the state’s convoluted pension system to significantly increase his potentialpayout while saving $400,000 in contributions, a Tribune/WGN-TV investigation has found.
Daley, a former state senator, made it happen by briefly rejoining the legislative pension plan in 1991. He stayed there just one month before returning to Chicago’s municipal pension fund, but the switches made him eligible for benefits worth 85 percent of his mayoral salary — a better rate than …