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Bloomberg Business
Mayor Rahm Emanuel will ask the city council next week to allow Chicago to refinance about $1.1 billion of debt as part of his plan to ease a deepening financial crisis as pension liabilities threaten the municipality’s solvency.
The conversion of short-term lines of credit into long-term debt is part of Emanuel’s plan laid out in April to mend the third-most-populous city’s finances.
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CFA Chicago
Special situations are corporate actions which could reveal an undervalued security and hence an investment opportunity. Some examples of Special Situations are spinoffs, liquidations, tender offers, restructurings, bankruptcy exits etc. In the Special Situations Research Forum we will discuss an investment situation decided three weeks in advance.
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CFA Chicago
In today's investment industry, putting your head down, working hard, and expecting to move forward is not always sufficient. To succeed, you must put the same level of energy into strategically mapping your career as you do into daily investment research.
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CFA Chicago
Steve Romick, CFA, will present lessons learned after close to three decades of absolute value investing. He will touch on how he thinks about investing, risk and reflect on some of his more memorable positive and negative investment experiences.
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CFA Institute's Enterprising Investor
The next global extinction event is on the horizon ... and it will dramatically change how the wealth management industry conducts day-to-day business, including how it connects with clients.
The day that your iPhone or Android grows as obsolete as the rotary phone might seem far away — especially if you’re reading this article on one of those devices right now.
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Bloomberg via Crain's Chicago Business
Chicago's tumble into junk-bond status is giving investors a chance to buy the city's safest debt on the cheap.
Yields on Chicago water bonds, which are repaid by customers' bills, jumped to as much as 3 percentage points more than those on top-rated securities for debt maturing in 2042, the widest gap in at least two years, after Moody's Investors Service cut the city's rating last month. The spread on debt backed by sales taxes rose by almost a full percentage point.
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TechCrunch
Money is pouring into fintech. In 2014, global investment in financial technology startups spiked to more than $12 billion. That’s three times what it was just a year prior, according to Accenture. There have also been some huge funding wins this year. Most recently, zero-commissions trading app Robinhood announced $50 million round and financial education site NerdWallet attracted $64 million in funds.
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Chicago Tribune
Nine of 10 consumers who work with a paid financial adviser believe such professionals "always puts their interests first," according to a new study. The report by LIMRA Secure Retirement Institute said nearly 1 in 3 Americans work with a paid financial professional. That could include an insurance agent, lawyer, accountant, broker, financial planner or anyone else you use to make at least some of the household's investment decisions.
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WBBM-TV
With a huge budget deficit ahead, Chicago city government is desperately searching for new income.
Now, Mayor Rahm Emanuel may be seriously considering an income tax.
Emanuel isn’t specifically talking income tax yet. But one of his strongest city council allies is speaking up.
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The Associated Press via Crain's Chicago Business
General Electric will sell its private-equity business in a deal valued at about $12 billion as it refocuses on its core businesses and exits a banking sector now under stricter oversight.
The U.S. Sponsor Finance business, made up mainly of Chicago-based Antares Capital, GE Capital's lending business to private equity-backed middle market companies, will be sold to the Canada Pension Plan Investment Board, alongside a $3 billion bank loan portfolio.
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Crain's Chicago Business
Instead of looking to policymakers and accountants for help with state pensions, reformers across the country realize they need to hire a few more lawyers.
Illinois Gov. Bruce Rauner has to deal with serious pension problems after a unanimous state Supreme Court shot down the 2013 reforms of his predecessor.
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ChicagoInno
To help Americans increase savings and improve credit, the Center for Financial Services Innovation — a national non-proift focused on spreading consumer financial health — is turning to the entrepreneurial community.
The center has set up the financial solutions lab to identify, test and scale innovative solutions and services and announced the winners of its inaugural startup competition.
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Forbes
In recent years automated investment advisors have turned long held assumptions about financial management upside down. If the old way was pricey, stodgy and personality-driven the new way is designed to be cheap, tech-centric and person-free.
Often referred to as robo-advisors, these companies aim to bring high quality portfolios to the masses without hiring large — and expensive — staffs of advisors.
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