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Rauner Wants Illinois Hiring Freeze, Calls State Condition Dire
Calling the state's fiscal condition "stunningly bad," Illinois Gov.-elect Bruce Rauner called on Gov. Pat Quinn to freeze hiring and not move political appointees into union protected jobs.
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Wisconsin faces a $2.2 billion gap headed into the next two-year budget cycle, up $400 million from previous estimates.  more »
Illinois' landmark pension reform law is headed to the Illinois Supreme Court following a lower court decision Friday that the benefit cuts violate the state constitution.  more »
At least two northwest Indiana counties put together a preliminary bid on the bankrupt Indiana Toll Road that's expected to be at least $4 billion, while three other counties opted out of the proposal.  more »
Local county officials in Illinois will be offered special financial training on how to protect their coffers from corrupt fiscal practices similar to what happened in Dixon, Ill. where the comptroller stole more than $50 million in public money.  more »
Wisconsin could win an upgrade if recent budgetary and liquidity strides remain on course and result in a stronger balance sheet and reserves, Moody's Investors Service said in shifting the state's general obligation outlook to positive.  more »
The state of Michigan may come to market in the next several weeks with a $450 million bond deal to finance a controversial new hockey stadium in Detroit.  more »
Missouri Gov. Jay Nixon tasked a newly formed commission with advising him on social and economic policy changes in the aftermath of violent protests in Ferguson Missouri sparked by the police shooting of an unarmed civilian.  more »
The Chicago Transit Authority's $1.4 billion 2015 budget won the endorsement of the Civic Federation of Chicago in recognition of the agency's fiscal strides.  more »
Annual income taxes Wisconsin receives from Milwaukee Bucks basketball players and team employees would cover repayment of $150 million of 20-year state general obligation backed bonds for a new stadium, according to the nonpartisan Legislative Fiscal Bureau.  more »
The Chicago City Council approved new rules that require underwriting, advisory, and legal firms that work on Chicago bond deals to report the racial, ethnic and gender makeup of the teams on their transactions.  more »
A federal judge wants more information on bond firms involved in a $31 million borrowing by Allen Park, Mich. that was the target of a recent SEC probe.  more »
The Chicago City Council adopted Mayor Rahm Emanuel's $7.3 billion 2015 budget that pushes off a fix for a pension-related fiscal cliff until after next year's municipal elections.  more »
Some Chicago aldermen want the SEC and city inspector general to investigate campaign contributions to Mayor Rahm Emanuel from executives at firms with city pension business.  more »

The Allen Park, Mich., case marks the first time a city official has been charged on the theory that he "controlled" the persons who committed the primary securities law violations, even though he isn't alleged to have participated or even known of the conduct at issue.

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