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[6 Oct 2015 | No Comment | ]

The Chicago Tribune reports:

Chicago Public Schools expected 2,166 students at Schurz High School in the Old Irving Park neighborhood this year. But 156 of those students didn’t show up and now, a month into the school year, Schurz is poised to lose more than $1 million in funding.

Citywide, 51 percent of district-operated schools — 258 of 503 buildings — fell below enrollment projections and most of those schools are expected to see budget cuts, according to a Tribune analysis of recorded enrollment on the 10th day of classes. Three schools in addition to Schurz stand to see funding cut by at least $1 million.

Enrollment matters more than ever this year at CPS. For the first time the district, under its student-based budgeting policy, is pulling money from schools where enrollment fell short of projections. That will lead to tough decisions for principals, who may have to consider cutting staff or programs to make ends meet.

The situation is further complicated since going into the year, the district was working off a budget that relies on a so-far nonexistent $480 million in help from Springfield, said Clarice Berry of the Chicago Principals and Administrators Association.

Declining population does complicate things.

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[2 Oct 2015 | No Comment | ]

Zerohedge reports:Putting it into perspective, in 2015 job growth has averaged 198,000 per month, compared with an average monthly gain of 260,000 in 2014. The recession is almost here.Ouch.

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[30 Sep 2015 | No Comment | ]

The Daily Caller reports:

A liberally funded anti-poverty group’s plan failed miserably to revitalize the destitute Baltimore neighborhood where Freddie Gray lived but the non-profit continues to pay its officers lavish salaries with one top executive earning more than $1 million in 2014.

Columbia, Md.-based Enterprise Community Partners conducts anti-poverty projects nationwide, but it lost the battle in its own backyard in Sandtown-Winchester – the Baltimore neighborhood that was once home to former Supreme Court Justice Thurgood Marshall and entertainer Billie Holiday. Gray died there after suffering a spinal cord injury while in police custody in an incident that sparked violent riots across Baltimore earlier this year.

Enterprise’s extravagant salaries reminded conservative think tank Capital Research Center Executive Vice President Scott Walker of Thomas Sowell’s “Poverty Pimps” – a 1998 poem about profiting from the poor.

Enterprise partnered with then-Baltimore Mayor Kurt L. Schmoke in 1990 to revitalize Sandtown-Winchester on four fronts: community building, housing and economic development, health services and education. More than $130 million of public and private money was invested in the neighborhood, which built more than 1,000 homes and bolstered public schools.

Rent-seeking in action.

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[30 Sep 2015 | No Comment | ]

The Chicago Tribune reports:Six people were killed and at least eight people were wounded, including an 11-month-old boy and a 2-year-old boy, during a bloody start to the week in Chicago that saw 10 of the victims shot at two scenes less than 3 miles …

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[30 Sep 2015 | No Comment | ]

Newsbusters reports:

How do you spell hypocrisy? W-a-s-h-i-n-g-t-o-n P-o-s-t.

The Washington, D.C., paper of record has spent the past year filling bird cages and landfills with stories about income inequality – 156 in print alone and another 404 in blogs or 560 total. Subtract one of those (listed twice in LexisNexis) that included the name of billionaire Post owner Jeffrey Bezos. And that was a column by conservative George Will declaring: “Income inequality is good.”

The remaining 155 print and 403 blog mentions didn’t have any discussion of the newspaper’s fat cat owner. Yet, Bezos is now the fourth-richest American with a fortune of $47 billion, according to Forbes. He purchased the Post for $250 million, wrote the Post.

According to the Sept. 29, Daily Mail: “But it was Amazon CEO Jeff Bezos who has emerged as the biggest overall gainer, adding a whopping $16.5 billion to his war chest in a single year after his company posted a quarterly profit in July.”

Whopping indeed. Bezos made 899,521 times the median household income in the United States — $52,250.

No word yet on this story from Eric Alterman is very concerned about inequality.