Midwest

CHICAGO - The emergency manager of struggling Pontiac, Mich., last week unveiled a package of tax increases and spending cuts that he said is the only option the city has to avoid going broke by next spring or sooner.

CHICAGO - Public hearings began Thursday on the Illinois State Toll Highway Authority's proposed 15-year, $12 billion, partially bond-financed capital program ahead of a possible board vote next week at which one board member will push an alternative.

CHICAGO - A trio of nonprofit hospitals in the Chicago area, including the prominent Northwestern Memorial's Prentice Women's Hospital, are expected to appeal the Illinois Department of Revenue's decision earlier this week to deny them their property-tax exemptions for failing to provide sufficient charity care.

CHICAGO - Novi, Mich.-based Trinity Health Corp. received preliminary approval from the Illinois Finance Authority board this week for its planned sale of about $550 million of debt tied to its recent acquisition of Loyola University Health System in suburban Chicago.

CHICAGO - Indianapolis Mayor Greg Ballard unveiled what he called the triple-A rated city's tightest budget in years, offsetting falling revenue by dipping into funds from the city's lucrative downtown tax increment finance district.

Stifel Financial last week announced preliminary plans to purchase its current headquarters in downtown St. Louis and seek some public funds to support it.

Standard & Poor's this week upgraded Allina Hospitals & Clinics rating one notch to AA-minus due to its strong operations.

The Detroit Charter Revision Commission is working to meet an Aug. 30 deadline to place a revised charter on the fall ballot.

The AARP joined with two other senior-citizen groups to file a friend of the court brief to the Michigan Supreme Court last week, arguing that the state’s new law taxing retirement income is unconstitutional.

More than 80 people, including members of Michigan's Senate Economic Development Committee, embarked Monday on a fact-finding tour of proposed sites for a controversial plan to build a publicly funded bridge over the Detroit River.