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Chicago Tribune
Illinois House Speaker Michael Madigan rose to give his customary year-end speech after the House had concluded its business last week, and pointed his finger right at Gov. Bruce Rauner.
For months, Madigan has noted that every time Rauner sets aside his "personal agenda," the two men have been able to reach a compromise on a spending proposal.
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CFA Chicago
After a strong run since the 2008-2009 financial crisis, the stock market has been "violently flat" since 2015. As markets digest the beginning of a Fed rate hike cycle, negative rates globally and an unprecedented political uncertainty, we're likely to see continued bouts of volatility.
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CFA Chicago
CFA Society Chicago is moving offices. Starting July 1st, visit us at our new home at: 33 N. LaSalle Street Suite 910 Chicago, IL 60602 CFA Society Chicago Board of Directors and staff invite you to our Open House on August 3rd from 4:00 pm - 6:00 pm at our new headquarters. Please join us for appetizers, drinks and a tour of our new home!
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CFA Chicago
Join us for the 2016 Financial Analysts Seminar (FAS) on July 18 - 21, 2016 at the University of Chicago's Gleacher Center. Offering engaging lectures, discussions, and case studies, FAS 2016 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
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.
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CFA Institute's Enterprising Investor
Almost all major U.S. banks comfortably passed the U.S. Federal Reserve’s stress tests last month.
While that’s certainly good news, the purpose of these tests is to determine whether banks “have effective capital planning processes and sufficient capital to absorb losses during stressful conditions,” not whether they can earn a risk-adjusted return even close to what they were accustomed to in previous decades.
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Bloomberg
In Illinois, roadwork won’t grind to a halt, prisons won’t run out of food and schools will reopen on time. But the six-month stopgap budget that averts a government shutdown is only digging the state deeper into the hole.
With no agreement between Republican Gov. Bruce Rauner and the Democrat-led legislature over how to raise revenue, the state is on track to spend $5.5 billion more than it brings in by the end of June, according to initial estimates from the Civic Federation, a watchdog group.
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With an online Master’s in Finance from Saint Xavier University, you receive a quality education from an AACSB accredited program with a curriculum built around the CFA exams. Learn how you can experience the rewards of a graduate finance degree in today’s big data world.
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Chicago Tribune
The amount of overall Chicago debt to be paid off with future city property tax collections rose by more than $1 billion last year — marking yet another troubling financial trend for Mayor Rahm Emanuel as he tries to right the financial ship.
But there's a bit of a silver lining in that cloud — the bulk of the new borrowing was done to execute Emanuel's plan to rid the city of risky borrowing deals that could have resulted in even bigger financial troubles down the road.
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Crain's Chicago Business
Policymakers in Illinois are taking aim at what they say are unscrupulous online lenders taking advantage of small-business owners.
Legislation pending in the state Senate would require lenders operating in Illinois to register with the state and clearly disclose to borrowers the interest rates they'd be paying as well as other critical information before clicking to take out a loan.
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REJournals
Property tax bills are hitting Chicago mailboxes, and taxpayers are up in arms. The skyrocketing rates are a by-product of the record $588 million property tax increase passed last fall by the Chicago City Council. Though increases are never welcomed by taxpayers, downtown properties are shouldering a substantial portion of that sum, so Chicagoans can thank Loop landlords that those increases aren’t even higher.
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Crain's Chicago Business
The city's reported net liabilities more than tripled last year, soaring to a stunning $23.8 billion, pushed up by new accounting rules that require City Hall to be more transparent in its public balance sheet.
That's the bottom line of the city's new comprehensive financial statement for 2015 that was released, a document that also indicates City Hall actually is beginning to dig out of a mountain of accumulated pension debt but starkly underlines just how high that mountain had become.
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Barrons
As the global decline in bond yields plumbs once-unimaginable depths, it has produced big winners among investors in fixed-income securities. But it also has made for some big losers as well, notably big corporate pension funds.
Even with the major U.S. stock market averages near records, the shortfall in funding of major corporate pension plans also is near a record.
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Crain's Chicago Business
Chicago-area stocks navigated a rising tide of economic worry and geopolitical uncertainty better than most in the first half of 2016.
An index of local shares compiled by Bloomberg rose a respectable 3.87 percent between Jan. 1 and June 30, outpacing a 2.69 percent gain for the Standard & Poor's 500 Index during the same period.
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