Illinois

Prairie State Generating Co. has named Donald Gaston its new president and chief executive officer after a nationwide search.

Wisconsin's Mercy Health System and Illinois' Rockford Health System plan to join forces as soon as December pending regulatory approval.

Chicago Public Schools has reached an agreement to sell its downtown headquarters for $28 million.

The Chicago Infrastructure Trust is launching a new initiative that could lead to private financing for the installation of combined heat and power systems in some public buildings.

Chicago City Treasurer and former public finance banker Stephanie Neely is stepping down from the elected post to return to the private sector.

Chicago's general obligation bond ratings will remain pressured until the city fully fixes its pension mess, top city finance officials told alderman, while warning City Council not to expect to use reserves to ease the pain of a coming $550 million pension spike.

Illinois closed out the first quarter of fiscal 2015 with its bill backlog holding steady at nearly $5 billion, state Comptroller Judy Baar Topinka reported in her office's monthly update.

The Illinois State Toll Highway Authority unveiled a preliminary 2015 budget Wednesday that relies on as much as $800 million of toll-backed borrowing to support $1.6 billion in capital spending.

Chicago Mayor Rahm Emanuel proposed erasing $300 million of red ink by raising parking and leasing taxes, expected savings, and cuts in a 2015 budget that delays tackling a $550 million pension reckoning.

Stricken by cancer, Chicago Teachers Union President Karen Lewis won't try to unseat Chicago Mayor Rahm Emanuel in next year's mayoral contest.

Moody's Investors Service has hit the Rock Island County Forest Preserve District in Illinois with a triple-notch downgrade and warning that further action could loom over its fiscal challenges.

The transit agency that provides commuter rail in the Chicago region could soon join the ranks of tax-exempt borrowers under a proposed $2.4 billion, 10-year capital program that relies on about $400 million of financing.

Illinois Gov. Pat Quinn's administration says its plan to build a $1.5 billion privately financed toll road in partnership with Indiana remains on track with the endorsement of a key Chicago area planning committee.

Illinois' fiscal 2015 budget reverses course on recent strides, relying on fiscally harmful practices like borrowing to cover operations and shorting known expenses, a local government review group warns in its new review of the spending plan.

Cook County, Ill. Board President Toni Preckwinkle Thursday unveiled a nearly $4 billion2015 budget for the nation's second-largest county, home of Chicago, that relies heavily on the new federal health care law to close a projected $169 million budget gap.

The Civic Committee of the Commercial Club of Chicago said it plans an initiative to promote a dialogue on the consequences should the Illinois Supreme Court overturn pension reforms adopted last year.

Chicago Mayor Rahm Emanuel and the Chicago Public Schools plan to expand early childhood education programs through a $17 million Social Impact Bond.

A new quantitative fiscal review of four Chicago charter schools and networks ranks two as financially healthy while the other two face negative trends that could hinder their long term prospects.

Chicago Mayor Rahm Emanuel vowed not to raise property, sales, or gasoline taxes to help erase $297 million of red ink in his proposed 2015 budget, set to be unveiled later this month.

Chicago-based William Blair & Co. is making a big push into the Texas market, snaring a five-member banking team from Robert W. Baird & Co. led by Ajay Thomas who will take over the firm's public finance banking group and help guide a national expansion.