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The New York Times
Faced with a toxic combination of mounting pension payments and plunging credit ratings, Mayor Rahm Emanuel called for tax and fee increases unprecedented in this city’s modern history, including a “last resort” property tax increase of more than $500 million to be put in place over four years.
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CFA Chicago
Kurt A. Summers, Chicago's newest City Treasurer, is the steward of the city's $7 billion dollar investment portfolio and is responsible for maintaining records and accounts of the city's finances while ensuring transparency and accountability for all transactions. Treasurer Summers also serves as an advocate to empower young people, workers and small business owners, as well as programs that promote economic growth and financial education.
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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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The Stuart School of Business at Illinois Institute of Technology will host a “Career Connections” job fair on Tuesday, October 27 at 3201 S. State Street. Recruit for internships and full-time positions from Stuart’s top-ranked graduate programs in finance and mathematical finance. Learn more.
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CFA Chicago
Build a fully integrated financial statement projection model with income statement projections, a self-balancing balance sheet, an automated cash flow statement, and the balancing cash flow sweep/debt schedule. While knowledge of advanced accounting concepts is not required for this course, you should possess knowledge of basic accounting ratios and a basic understanding of how the major financial statements are inter-related.
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CFA Institute's Enterprising Investor
Apple and the news media are not on good terms right now. The company’s newly released iOS 9 contains an ad-blocking feature that many journalists see as a potential death knell for the industry.
It’s rational to be worried. Journalists exist in a competitive sphere that is in many ways the worst of all worlds.
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Chicago Tribune
Bravo to Mayor Rahm Emanuel for having the courage to face up to the financial realities of this city. People may complain about increased payments, but these assessments are not new. Accountants have an excellent word for this: “accrued,” that is, incurred but not yet paid. These increases are not for new services but are a recognition that it is time to step up and pay for those services we have already received but not paid.
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Chicago Tribune
The budget-cutting scissors are being sharpened.
Now that the dust has settled on Naperville's approach to improving its financial health over the long run, attention has turned to the anticipated $1.8 million budget shortfall in the short term. City staff has been instructed to come up with proposals for spending cuts and new revenue streams that will erase the projected deficit as planning for the city's first calendar-year budget gets underway.
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Forbes
September’s stock market sell off either created tremendous opportunities to put money to work at lower prices or alerted active investors to position their portfolios defensively for a deeper correction. To find out how you should invest your money in the fourth quarter, a panel of Barron’s-ranked financial advisors share their best mutual fund or exchange-traded fund picks. This elite group is hailed as the top 1 percent in their field.
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Crain's Chicago Business
Trading in the $12.7 trillion U.S. Treasuries market, once the domain of Wall Street’s biggest banks, is increasingly dominated by firms most people have never heard of.
Determining which ones is largely guesswork, however, which is peculiar in this market, which is the deepest, most liquid in the world and sets the benchmark rates for everything from mortgages to corporate debt.
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The Wall Street Journal
Procter & Gamble Co. Chief Executive A.G. Lafley speaks on just one earnings conference call a year, down from his previous practice of every quarter. The company says that helps him stay focused on pulling P&G out of a growth slump.
But Lafley still meets regularly with investors in private. In March, Lafley’s comments during a string of conversations with investors in New York gave a Wall Street analyst who was present the strong impression that he would step aside as CEO sooner than expected.
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Chicago Tribune
Over the last two weeks, markets have again confounded any attempt to explain their short-term gyrations by looking at historical patterns, in particular by focusing on the influence of central banks.
First, there was a counter-intuitive sell-off in risk markets in response to a relatively dovish signal from the Federal Reserve, the world's most powerful central bank, which left interest rates unchanged at its September meeting.
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Crain's Chicago Business
Chicago is fast becoming a national locus for companies racing to become the go-to online lender for middle-class consumers with not-quite-perfect credit.
Online consumer lender Avant, founded in 2013 by CEO Al Goldstein and arguably Chicago's fastest-growing startup ever, has captured most of the attention to date.
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