Yvette Shields

An investor with a stake in $39 million of defaulted bonds issued for a failed artificial sweetener plant in Missouri dropped the underwriter's counsel from litigation and may be zeroing in on underwriter Morgan Keegan & Co.

Minnesota lawmakers wrapped up their work on a new two-year $38.3 budget late Monday approving a tax package that generates $2.1 billion in new revenue and provides aid for the Mayo Clinic's proposed makeover of its hometown.

The fiscal condition of Chicago, Cook County, and five other local government pension systems deteriorated in 2011 by $4.6 billion, bringing their collective unfunded obligations to $32 billion.

Wisconsin Gov. Scott Walker reduced a proposed funding increase for the University of Wisconsin system in his proposed two-year budget by $94 million and recommended a tuition freeze.

Lambert-St. Louis International Airport received a triple dose of good credit news last week when Moody's Investors Service followed Fitch Ratings in upgrading the airport's credit and Standard & Poor's revised its outlook.

The Illinois Health Facilities and Services Board last week signed off on two planned hospital mergers in the Chicago area.

Missouri lawmakers adjourned after passing of a $25 billion fiscal 2014 operating budget and a $700 million to $800 million income tax cut package but taking no action on two major bond packages.

Chicago began notifying its retirees this week that most will lose their healthcare subsidies over the next few years as Mayor Rahm Emanuel's administration seeks to shed a rising cost.

Minnesota would tap a chunk of new revenue expected from a proposed cigarette tax increase and corporate tax changes if gambling revenues needed to repay state borrowing for a new Vikings stadium fall short.

Chicago convention managers and Mayor Rahm Emanuel advanced plans Thursday for a new arena and makeover of the city's top tourist attraction as part of a $1 billion package of new and previously proposed tourism-and-entertainment projects.

More than two dozen local governments in Minnesota have seen their bond ratings cut over the last 16 months as they struggle with diminished property tax bases, limited revenue flexibility, and other fiscal strains.

Moody's Investors Service has upgraded HealthPartners Inc.'s rating one level to A2 in recognition of its improved operating performance.

Standard & Poor's has raised its rating by one notch on Riverside Health System to A-plus due to its leading market position and improved balance sheet.

Chicago City Council member Brendan Reilly said this week he has consulted with public finance experts in an exploration of how the city could finance a buy back of the parking meter system from private operators.

A retirement party for Wisconsin's longtime capital finance director Frank Hoadley takes place Wednesday in Madison. Hoadley retired at the end of February after 25 years managing the state's debt issuance.

Illinois Gov. Pat Quinn's proposed $62.4 billion fiscal 2014 operating budget won the endorsement of a local government watchdog group, tempered by alarm over the state's mountain of unpaid bills and pension crisis.

Moody's Investors Service lowered Ascension Health Alliance's rating one level to Aa2 ahead of the nation's largest not-for-profit healthcare system's upcoming sale of $980 billion of refunding bonds.

Illinois' $300 million sale of high-grade taxable, sales-tax backed paper drew 11 bids all within a tight 19 basis point range, state officials said Thursday after the sale.

The Illinois Senate approved a pension reform package Thursday after Democrats argued it stands a better chance at surviving a legal challenge than a rival House bill.

Wisconsin expects to collect an additional $575 million in tax revenue over three years under new projections that fueled calls for tax relief and more spending on education.