Monthly Archives: February 2016

//February

Apple Refuses To Help FBI

    It’s a debate that pits digital privacy against national security interests. Last year, a federal magistrate in Chicago ordered Apple to help federal prosecutors access data on an iPhone in a personal bankruptcy and passport fraud case. Apple refused to comply. According to the Chicago Tribune, in November 2015, U.S. Attorney Zachary Fardon appealed to Apple to help the FBI bypass the passcode to search, extract and copy data from an iPhone 5S owned by Pethinaidu and Parameswari Veluchamy who live in the Northern District of Illinois. The couple had run Mutual Bank which failed in July 2009 among a scurry of scandals. The couple was more recently charged with passport fraud according to court documents. An affidavit filed Nov. 13 said text messages, phone contacts and digital photos might help confirm wrongdoing. It could also indicate motives and whether or not the fraud was intentional as charged. Apple denied [...]

By |2016-02-25T18:17:01-05:00February 25th, 2016|English Articles|Comments Off on Apple Refuses To Help FBI

10 Best Paying Jobs In Illinois Over the Next 5 Years

Looking for the highest paying jobs in Illinois in the near future?  If you’re a current or future job-seeker this recent report provided by Crain’s Chicago Business may give you some insight on where to direct your search, but not limit it. The Federal Reserve Bank of Philadelphia found that Illinois was one of seven states that had its economy shrink during the last quarter of 2015, according to an analysis of the latest employment data. In response, Crain’s Chicago Business released a list of 10 Illinois industries that will see the largest number of projected jobs gains between 2014-18, as well as 10 with the biggest job losses, according to data from Economic Modeling Specialists International. These are the top 5 Illinois industries that will experience the most projected job growth over the next five years. As you see, several do not require advanced degrees. Temporary Help Services  -  Projected [...]

By |2016-02-24T21:33:16-05:00February 24th, 2016|English Articles|Comments Off on 10 Best Paying Jobs In Illinois Over the Next 5 Years

Moody’s report: Forecast for Illinois Universities?

The Moody Report paints a grim picture for Illinois universities - at least as long as this delayed budget debacle continues. Feb. 5, Moody’s Investors Service on Illinois’ public colleges said that "The longer the budget crisis continues, the greater the likelihood that additional Illinois public universities will declare financial exigency to address costs." They’re already doing so. Eastern Illinois University President David Glassman wrote that: We will implement the actions of halting all non-instructional capital equipment purchases; delaying all deferred maintenance and repairs that are either unrelated to safety and security or already paid for; delaying all non-instructional capital projects; halting all non-instructional supply purchases without vice presidential approval; freezing employee-reimbursed travel with minimal exception such as for required federal or governmental purposes; and freezing all hiring that involves FY16 funding. Western Illinois University in Macomb voted to cut more than 40 teaching positions. Chicago State University has already [...]

By |2016-02-24T21:36:27-05:00February 17th, 2016|English Articles|Comments Off on Moody’s report: Forecast for Illinois Universities?

Poll Shows Majority Of Illinois Voters Oppose Tax Hikes

A new poll shows that most registered voters in Illinois want to close the state’s $4 billion budget gap through spending cuts rather than tax increases, and more than half want to see public pensions cut to address the deficit. The pension problem has been enduring.  Illinois is barely able to pay its employees - firemen, police, park workers and so forth - their pensions. It owns a $30 billion debt. MarketWatch says it has the worst pension reform situation in the nation. Senators have been creating and eliminating plans for years. Toni Preckwinkle suggested a sales tax; Bruce Rauner wants to cut pension benefits. Politicians remain undecided. Meanwhile,  a poll produced by Americans for Prosperity of Illinois surveyed 600 registered Illinois voters. Sixty-six percent called for state-spending to be cut while only 15% - not even a third of the people surveyed - proposed raising taxes. Four percent elected [...]

By |2016-02-09T17:07:54-05:00February 9th, 2016|English Articles|Comments Off on Poll Shows Majority Of Illinois Voters Oppose Tax Hikes

How Many Millionaires in Illinois?

  Illinois ranks No. 20 in the nation for the number of millionaires per capita according to the recent Phoenix Marketing report. The Phoenix Global Wealth Monitor (PMI) that released this report provides annual estimates of affluent ($1000k + in investible assets) and high net worth ($1mm + in investable assets) households throughout the nation. This year marks the first time that America has over 1 million Pentamillionaire (or households with $5mm + in investible assets) . The number of Pentamillionaire households grew up 18,000 up from last year’s 926,000. Illinois increased by 13,796 from 2014 to 280,266 in 2015.  It decreased by 4,000 between 2013 and 2014. Few other states relinquished their rankings. The following are the top 10 states (percentages based on rate of millionaires per state population): Maryland (7.7%) Connecticut (7.3%) Hawaii (7.25%) New Jersey (7.24%) Alaska (6.85%) Massachusetts (6.8%) New Hampshire (6.8%) Virginia (6.7%) Delaware (6.4%) [...]

By |2016-02-09T17:05:56-05:00February 5th, 2016|English Articles|Comments Off on How Many Millionaires in Illinois?

Still No Budget for Illinois but Pension Deal Back in the News

    Illinois politicians are still vacillating on their budget. Meanwhile, Gov. Bruce Rauner and Senate President John Cullerton have shaken hands on pension reform legislation, and that bill is now being drafted. Let’s hope. Because pension bills in the past have run the gauntlet of controversy and opposition. The union, for one, may not so readily accept this new plan. The plan seems simple and passably attractive.  It focuses on giving state employees a choice. For instance, an employee who wants to keep the 3 percent, compounded cost-of-living benefits payable in retirement would have to accept a lower pensionable salary. On the other hand, the employee could take the higher salary while working but get smaller cost-of-living raises while in retirement. Supporters of the Cullerton plan say it could save Illinois about $1 billion annually. They expect the plan to be opposed. Cullerton is more optimistic. Certainly the Illinois [...]

By |2016-02-09T17:08:26-05:00February 2nd, 2016|English Articles|Comments Off on Still No Budget for Illinois but Pension Deal Back in the News