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Chicago Tribune
Chicago will pay expensive taxable rates on the bulk of Mayor Rahm Emanuel's upcoming $1.1 billion bond deal — a costly sign of how much the city has come to rely on long-term debt to cover short-term expenditures.
Governments must resort to taxable bonds when they want to borrow for costs with no benefit over an extended period.
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CFA Chicago
The Investment Exchange Forum is a stock-picking meeting of 10-15 CFA Chicago members. Each meeting features actionable ideas by presenting volunteers and a lively discussion of the topic at hand. The IEF is both an opportunity to learn how others present investment ideas concisely and a chance to practice stock pitches. In order to keep the quality of the stock picks as high as possible, we encourage attendance by members who are actively involved in investment management.
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CFA Chicago
Join us for the 60th Annual Financial Analysts Seminar (FAS) on July 20-23 at the University of Chicago's Gleacher Center. Offering engaging lectures, discussions, and case studies, FAS 2015 is your opportunity to connect with top investors, researchers, and peers on the latest trends and thought leadership affecting global capital markets.
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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. Every participant in the forum is expected to research the topic before attending the meeting.
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CFA Institute's Enterprising Investor
Expectations have been high since Prime Minister Narendra Modi took office in May 2014, but what is actually happening in India? Punita Kumar-Sinha, CFA, knows as well as anyone. The founder and managing partner of Pacific Paradigm Advisors and former CIO of Blackstone Asia Advisors has been investing in Indian and emerging markets for more than 25 years.
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Reuters
Chicago will try to convince a judge on Thursday that pension changes for two city retirement systems are constitutional despite a ruling by the Illinois Supreme Court two months ago voiding a law that would have cut benefits for state pensions.
Cook County Circuit Court Judge Rita Novak will hold a hearing on motions by city unions and retirees to overturn a law for Chicago's municipal and laborers' systems that took effect Jan. 1.
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Chicago Tribune
When Chicago Mayor Rahm Emanuel led a delegation to Beijing in late 2013, he sealed economic partnerships with eight major Chinese cities — pacts the city's private economic development arm, World Business Chicago, envisioned would position Chicago "as the location of choice for Chinese companies seeking a North American presence."
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Reuters
An Illinois judge said she will rule July 24 on the constitutionality of a 2014 state law aimed at shoring up two financially ailing Chicago pension funds.
Cook County Circuit Court Judge Rita Novak made the announcement after attorneys for the city and its municipal and laborers' pension funds, as well as lawyers for city unions and retirees challenging the law, held more than two hours of oral arguments.
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Crain's Chicago Business
When aerospace manufacturer Woodward invested $250 million on a new factory outside Rockford, the decision ran counter to the narrative that beleaguered Illinois is doomed to miss out on industrial projects that inevitably flow to lower-cost states.
The company's expansion in northern Illinois — even when Wisconsin was calling and South Carolina beckoned — illustrates how Rust Belt towns struggling to adjust to shifting patterns of production can gain jobs by building on what they already have.
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Crain's Chicago Business
Last spring, the city treasurer announced an initiative to provide financial education to every public school student in Chicago. That announcement seems especially prescient: Recent data show that 49 percent of Chicago families do not have enough savings to live above the poverty level for just three months if they lose a job or suffer another emergency that leaves them without a steady income.
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Chicago Reporter
A lot of taxes have been proposed lately — sales taxes, property taxes, income taxes — as the state’s budget stalemate grinds on and the city’s financial crisis metastasizes.
But the powers that be have taken one tax off the table, a financial transaction tax. It would target the very wealthy — the only ones in recent decades benefiting from economic growth.
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TechCrunch
Over the last decade of so, Paul Lee had enjoyed a nice career as a venture capitalist. Last year, an idea began to nag at him, though, and in November, he left his job of several years, as an investor at Lightbank in Chicago, to pursue it with two other former Lightbank colleagues, Ryan Jeffery and Kathryn Saluke, and their friend Arman Ghosh.
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