Category: Pension funds

Chicago’s first domino

18 May, 2015 (16:11) | Bankruptcy, Chicago, Cities, Default, Municipal bankruptcy, Municipal finance, Pension funds, Rating agencies, Real estate taxes, Recapitalization, US News | No comments

By: David A. Smith Scarcely had I finished posting Chicago’s pre-obituary (A tale of two cities, Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, Part 10, Part 11, and Part 12) than the first domino fell, as reported in the Chicago Tribune (May 8, 2015), […]

A tale of two cities: Part 12, A beautiful city rising from this abyss

29 April, 2015 (10:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from yesterday’s Part 11 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, and Part 10.] By: David A. Smith “It is a far, far better thing that I do, than I have ever done; it is a far, far better rest […]

A tale of two cities: Part 11, Only Detroit has a lower bond rating

28 April, 2015 (10:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from yesterday’s Part 10 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, and Part 9.] By: David A. Smith “And who among the company at Monseigneur’s reception could possibly doubt that a system rooted in a frizzled hangman, powdered and gold-laced, pumped, and […]

A tale of two cities: Part 10, Division of public property, debts, town paupers, and taxes

27 April, 2015 (09:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from last week’s Part 9 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, and Part 8.] By: David A. Smith “Keep where you are because, if I should make a mistake, it could never be set right in your lifetime.” Charles Dickens, A Tale of Two […]

A tale of two cities: Part 9, Grievances would be addressed

24 April, 2015 (10:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from yesterday’s Part 8 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, and Part 7.] By: David A. Smith “Liberty, equality, fraternity, or death; — the last, much the easiest to bestow, O Guillotine!”  Charles Dickens, A Tale of Two Cities With Chicago’s economy sinking and its […]