Mayor Rahm Emanuel swept into office with the kind of support from Chicagos business elite that took his predecessor years to cultivate.
Just as they did for Richard Daley, top executives who helped bankroll the new mayors campaign also contribute to favored charities and serve on the many advisory commissions established by City Hall.
But Emanuels stated goal of leveraging the business community for the civic good is headed for a collision with another of his oft-repeated pledges bringing City Hall decision-making out from behind closed doors.
As the mayor takes steps to further centralize his power over Chicagos economic development, he is relying on advisory boards that do or plan to do their work in private.
Since his election in May, Emanuel has roughly doubled the size of World Business Chicago, a city-funded nonprofit group the mayor chairs that helps recruit businesses and bills itself as the citys economic development office. The WBC board, whose members are responsible for more than $1.2 million in Emanuel political contributions, does not hold public meetings or make its board minutes available.
The new mayor is also setting up an oversight board with authority over controversial special taxing districts, known as tax increment financing, or TIFs, as part of his effort to rehabilitate the oft-criticized program. That board, yet to be appointed by Emanuel, would potentially meet behind closed doors to make decisions about hundreds of millions of dollars in city incentives and tax breaks.
Chicagos inspector general has called attention to the coziness among City Hall, business leaders and politically connected charities in a series of investigative reports that focused on the Daley administration while raising questions about how Emanuel will handle the potential conflicts.
You dont have full light on it, theres no ownership and there are not guidelines, Inspector General Joseph Ferguson said. It is especially important that there be full sunlight.
The administration is still determining how the oversight board will function, spokeswoman Kathleen Strand said.
Since day one of this administration, Mayor Emanuel has followed through on his commitment to provide more transparency and involve Chicagoans in an open dialogue about city government decisions, Strand said.
Earlier this year, Ferguson questioned the close involvement of WBC in negotiating taxpayer-financed subsidies for United Airlines and the Chicago Mercantile Exchange while leaders of those companies were WBC board members.
The group is tasked with offering data on the city and resources for companies that might consider doing business here, including information on TIF funds.
The inspector general pointed out that WBC letters to the Department of Housing and Economic Development and the Community Development Commission have been used by the city as evidence of public support for particular TIF proposals, including in the case of the private exchange.
On behalf of World Business Chicago, we are very pleased to be working in conjunction with the Department of Community Development to support an incentive to keep CMEs headquarters here, one letter states. The document from Aug. 26, 2009, was prepared as CME was seeking $15 million in funds for building renovations and while CME Chairman Terrence Duffy was on the WBC board.
Ferguson urged the group to adopt a policy requiring WBC to disclose potential conflicts any time it makes a TIF recommendation in which its employees, volunteers, officers or directors have a financial interest, and called on WBC to discontinue issuing support letters for specific TIF proposals.
WBC declined the Tribunes request for all TIF-related memos and written communications between its board and city government prepared since mid-2009. Likewise, a spokeswoman said the organization is now reorganizing its conflict-of-interest policy and declined to release the current one.
The IG has everything that we have, spokeswoman Karley Sweet said in an email.
The inspector general report came weeks after Emanuel increased the size of the WBC board to 48 members and pledged the group would be a key entity for economic development.
The new board leadership and structure of World Business Chicago will strengthen its ability to attract new businesses and create jobs here, Emanuel said when he announced the WBC expansion. The new structure will directly link World Business Chicago to the mayors office, fostering close collaboration to advance Chicago as a global economic leader.
Published October 21, 2011, 12:05 AM
Henry Borysewicz, Larimore, ND, letter: Do space heaters really save money?
The fliers arrive every year with the onset of cold weather. They peddle electric space heaters that claim to “slash home heating bills.” They promise “soft, healthy heat” or “safe, clean, economical heat.” They claim you can save up to 50 percent on your heating bills.
By:
Henry Borysewicz,
(2011-10-21) How to Find Economical Bed and Breakfast Dublin
Bed and Breakfast Dublin has become so popular that the number of tourists visiting Ireland due to these extremely convenient services and that too at very reasonable rates is rising by leaps and boun
Tourists travelling to UK with a valid travel passport can now travel to Dublin, Ireland too. The inflow of tourists to Dublin has considerably increased due to this easy accessibility factor introduced to help develop tourism as a fruitful economy booster for Dublin.
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Being the capital and one of the most important cities of Ireland, Dublin has some of the cheapest Bed and Breakfast packages. These Bed and Breakfast Dublin are available for hotels, villas, apartments, cottages, and also for castles, palaces etc which make this proposition every interesting and attractive indeed.
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LONDON, Oct 20, 2011 (BUSINESS WIRE) –
Across Europe, improved access to technology and the need to reduce
healthcare delivery costs have underpinned the search for cost-effective
solutions. Telemedicine has proved to be an economical alternative to
conventional healthcare delivery, while providing personalised
solutions. These factors are expected to assist telemedicine in becoming
an integral part of the healthcare system.
Spiralling healthcare costs and the demand for personalised healthcare
solutions, paralleled by greater access to technology, are driving the
market for telemedicine in Europe. In order to cut down costs, European
governments are keen to leverage various information and communication
technologies that will support economical and effective healthcare
delivery. Telemedicine, a vital component of e-health, is gaining
momentum with government support and is projected to witness a positive
growth trajectory in Europe. Current low penetration levels are also
paving the way for faster market growth.
While patients are getting accustomed to limited face-to-face contact
for consultation, they continue to have major concerns about the
confidentiality associated with telemedicine. They are unwilling to
depend completely on remote assistance, as there is still scope for
error. Although there is growing acceptance and adoption of telemedicine
in Europe, patients are still reluctant to completely rely on
telemedicine due to safety and confidentiality issues looming over data
interpretation and usage. Social concerns related to data security are
posing a key challenge to telemedicine’s scalability.
Efforts need to be made to enhance patient confidence and establish the
value of telemedicine in Europe. Data security and confidentiality
issues should be addressed in order to overcome the challenge of
acceptance and improve adoption rates. Similarly, the legal implications
pertinent to cross-border telemedicine should be refined and clarified.
This will be critical to the geographic expansion of telemedicine and
the realisation of its full potential in delivering effective
healthcare. Understanding patient needs and providing them with all the
necessary information will help in boosting confidence levels. Employing
techniques such as the digital signature in teleradiology has already
helped address data security challenges. Similarly, innovative solutions
will help overcome linguistic issues and technology constraints, while
improving acceptance and penetration rates. Most importantly,
telemedicine market participants should thrive to bridge the gap in
effective healthcare delivery and the cost incurred.
Strategic Analysis of the European Telemedicine Market
http://www.companiesandmarkets.com/r.ashx?id=SC20QO5NQ702009?prk=7c4ed5b510c1ffe12b50d9829eddaba2
SOURCE: Companies & Markets
Companies & Markets
Paul Chapman
Press Office
enquiries@companiesandmarkets.com
London (UK): +44 (0) 203 086 8600
Copyright Business Wire 2011
(Updates with closing share prices in 14th paragraph.) Oct. 10 (Bloomberg) — General Dynamics Corp.s Gulfstream unit, Textron Inc.s Cessna Aircraft and other business-jet builders are adding new models as the industry recovers from an order slump that forced output cuts of more than 40 percent. Gulfstream expects to boost deliveries about 10 percent in 2011 and more than 15 percent next year as the long-range G650 enters service, President Larry Flynn said in an interview. Cessna announced the $4.2 million Citation M2 on Sept. 26 and the $14.9 million Citation Latitude today at the National Business Aviation Association conference in Las Vegas. Barring any major shifts in the world activities, well see a slight uptick in our deliveries” this year, Cessnas new president, Scott Ernest, said in an interview yesterday. He declined to give a more specific forecast. Worldwide business-jet sales may rise next year because of emerging-market demand and introduction of longer-range models, components-maker Honeywell Inc. said in its annual corporate-jet forecast before the convention. Deliveries will probably fall this year, weighed down by the US economy, it said. The slump in business-jet orders had forced planemakers to curtail new models and cut staff. Cessna canceled development of the Columbus jet in 2009 amid the recession and fired more than half its staff. Citation M2 The planemaker is now pushing ahead with the Citation M2, which will seat six, fly faster than competitors and have a range of 1,300 nautical miles. The Citation Ten will also have its first flight this year, said Brad Thress, Cessnas head of business jets. The Latitude, which has space for a two-person crew and eight passengers, offers a range of 2,000 nautical miles. The aircraft is scheduled to enter service in 2015, Cessna said at the show. The investments in new products will position us for strength, regardless of what the economy does,” Thress said in an interview yesterday. Its our intent to have new products every year into the foreseeable future.” Thress was named to his post by Ernest, who took over as head of Cessna about four months ago. Jodi Noah was put in charge of single-engine models. Ernest also simplified a sales- force model that had been in place for 40 years, removing layers while adding more regional directors and giving them power to make decisions and do deals faster. Bell, Cessna Textron Chief Executive Officer Scott Donnelly is molding units together, including Cessna and Bell Helicopters, to harness the energy across all the businesses,” Ernest said. Cessna has started joint service centers with Bell in Prague and Singapore and will continue to leverage the companywide resources for sales offices globally, he said. Gulfstreams new eight-seat G650, which has a top speed of Mach 0.995, is set to complete testing and certification this year, Flynn said. It will reach the first customer in the second quarter of 2012, he said. The planemaker has added 1,300 jobs this year at its plant in Savannah, Georgia, as it boosts production. The company is selling more large-cabin jets, with deliveries up 20 percent this year, Flynn. Sales of midsize aircraft, which dropped by about 20 percent, now are starting to pick up, he said. The buyers of larger planes can weather this market,” said Greg Irmen, head of business and regional systems for parts maker Rockwell Collins Inc. Owner-operators are a bit more affected by downturns. Whatever the stock market is doing is going to happen to the light jets.” Stock Market Effect The Standard amp; Poors 500 Index has tumbled 5 percent in 2011, as five straight monthly declines starting in May erased a gain built this year through April. Textron rose 1.5 percent to $18.62 at 4:15 pm in New York, while General Dynamics climbed 3.6 percent, the most since Aug. 11, to $61.68. Honeywell expects global business-jet deliveries to fall to fewer than 650 this year from 732 in 2010. Shipments may climb next year without surpassing 700, it said. Replacing older planes was the top purchase reason, while increased range ranked second for the first time, the company said. Bombardier Inc. is developing the eight- to ten-seat Global 7000 and 8000 jets, with a maximum cruise speed of Mach 0.90, that will enter service in 2016 and 2017. Through the ups and downs we just have to keep focused on making sure we have the right product regardless of market conditions,” said Bassam Sabbagh, head of Bombardiers Global jet lineup. Embraer Legacy Embraer SA, the Brazilian planemaker that entered the business-jet market in 2002, is developing the Legacy 450 and 500 jets, which will start ground testing in December. The company has delayed the maiden flights beyond year-end, said Ernie Edwards, who has been president of Embraer Executive Jets since May. He didnt elaborate on the reason for the postponements. Edwards is moving the units headquarters to Melbourne, Florida, from Brazil. An assembly line for the Phenom 100 is already operating in the southeastern US state, and Embraer is adding a customer design center for all its models, Edwards said. The company has 80 employees there, a quarter of which had worked for NASA, and plans to hire 140 more, he said. –Editors: James Langford, Donna Alvarado
When a college football team has uncommon success ? think Stanford, TCU or Boise State in the Bowl Championship Series ? there is a bump in momentum the following offseason.
It?s easier for the coach to recruit and sell the program, which often leads to a level of sustained achievement.
The Predators put together the most prolific NHL postseason run in their history last season, advancing to the second round for the first time. Yet while it boosted the team?s profile around town, the front office said the immediate financial bump for restocking the roster was negligible.
The Predators opted to go with younger players and draft picks to replace free agents. They believe those players and a new culture of winning are going to trump adding a high-priced veteran at this time.
That?s the Predators team fans will see in tonight?s home opener. That team is off to a 2-0-0 start.
?We took a fair bit of criticism in the offseason for what we perceived didn?t do,? General Manager David Poile said. ?But it was all based on the belief and hope that given the opportunity some of these younger players could grow.?
The belief that an NHL postseason run translates into an immediate financial boom is somewhat of a myth. Predators Chief Executive Officer Jeff Cogen said the league takes close to 50 percent of the revenue.
?It has an economic impact,? Chief Operating Officer Sean Henry said, ?but it?s a hiccup based on what it means legacy-wise.?
The thought is that the success of last season ? and possible success this season ? eventually will pay dividends in the free-agent market. More players will want to play for the Predators rather than higher-profile franchises.
?The more success you have, the better it is to attract players and all different types of players,? former NHL General Manager Craig Button said. ?It?s not just the marquee free agents.?
Poile observed the large contracts being handed out on July 1, when the free-agency frenzy began, and felt it wasn?t the best place for the Predators to put their money or to find value.
?There was a lot of money thrown around (on July 1) for guys who maybe didn?t have a huge profile,? ESPN.com hockey columnist Scott Burnside said. ?That said, I was surprised the Predators weren?t part of that, given the success they had in the playoffs last spring. But I certainly am not in position to criticize how David Poile maps out his team-building, given this team?s strengths.?
Before the Predators looked to make moves, they needed to clean up some of their own roster uncertainty.
In late June, they had to race to re-sign Sergei Kostitsyn, Nick Spaling, Matt Halischuk, Cal O?Reilly and Chris Mueller before an arbitration hearing on July 8.
They also filed for arbitration with defenseman Shea Weber and were unable to lock him up to a deal before an early-August deadline. An arbitrator awarded him a one-year, $7.5 million contract.
By mid-August, the Predators had signed only one free agent (forward Niclas Bergfors) to a one-way contract. With a bear market for top-six forwards ? a priority for the Predators before the summer ? they opted to give their younger players an opportunity.
Although capgeek.com says the Predators have a lower payroll than last season, Poile maintains that ? with bonuses for certain players on top of the bought-out contracts of JP Dumont and Brett Lebda ? the Predators have a higher payroll.
And if the opportunity arises to acquire a player of higher salary during the season, Poile believes ownership will comply, as it did last February when the Predators traded for forward Mike Fisher.
?When we have a chance to improve our hockey club,? Poile said, ?I?m sure they will be willing to spend more money at the appropriate time.?
By MARTHA WAGGONER
The Associated Press
RALEIGH, NC The highway thats the economic lifeline for Hatteras Island is scheduled to reopen by Tuesday, more than a month after Hurricane Irene chewed a new inlet through the road. Business owners are relieved, but some wonder if they can salvage any of the fall season at this point.
Sources at Citigroup and Bank of America tell FOX Business that bank officials worked through the weekend and were in close talks with state attorneys general and the Department of Justice to try to wrap up a potential $20 billion settlement that could come as early as this week or next over improper mortgage practices and robosigning.
The would-be settlement involves foreclosure papers that were rubberstamped, allegedly pushing many out of their homes. JPMorgan Chase, Ally Financial and Wells Fargo are also involved in the talks, sources say.
A number of sticking points could still hang up the deal, these sources add.
These bank sources say the Administration at the same time is pressing ahead on sweeping new guidelines for mortgage lenders nationwide which could be part of the deal, possibly one of the biggest overhauls of an industry since the tobacco settlement in 1998.
The Department of Justice did not return calls for comment. Bank of America and Citigroup also did not return calls for comment.
The $20 billion deal is stuck on the legal exposures banks would still face in exchange for agreeing to revamp their mortgage servicing practices and paying the billions of dollars in the settlement. Also hamstringing the talks are states who are balking, such as New York and California, due to misgivings over whether the banks’ conduct has been adequately probed.
The plan is to put the final sum, which could vary from the $20 billion under discussion, into a monetary relief fund” for mortgage borrowers, a fund that’s somewhat akin to the $20 billion BP oil spill victims’ fund for the disastrous oil spill in the Gulf of Mexico. The banks would give loan modifications according to government guidelines, using this money, say Citi and BofA sources.
But who will get the loan modifications? What are the standards? No one knows yet, and whether this will be done fairly, says a Citi source. Another question: Not all banks committed improper mortgage practices and/or robosigning to the same degree as others. Will their payments into the fund be prorated according to guilt?
Good question, it doesnt look like it — this is a political deal, says a bank official.
Meanwhile, California’s attorney general recently pulled out of the deal, saying it is inadequate because it gives bank officials too much legal immunity for conduct that has not been properly investigated. California now says it may go it alone to get its own bank deal.
Arizona and Nevada have also taken separate action in suing BofA, according to bank disclosures. And New York’s attorney general also has expressed reservations. Meanwhile, foreclosure fraud class actions against the banks continue to flood in. And fighting has already begun at the state level over the formula for how much each state would get from the relief fund. Federal agencies may want their cut too.
A deal could help restart a clogged foreclosure system that is keeping the housing market down and the economy at stall speed. But how the new relief fund will be run is a sticking point, too.
The government recently shut down a federal program created last year to help homeowners struggling to make mortgage payments. The Emergency Homeowners’ Loan Program (EHLP) spent about half of its $1 billion budget. It had aimed to give jobless homeowners up to $50,000 in zero-interest rate loans for underwater mortgages.
But the government’s poor administration and stiff qualifying rules plagued the EHLP from the start. This program was enacted as part of the Dodd-Frank financial reform law enacted in July 2010. But it didn’t launch until June, due to strict eligibility requirements, and less than half of the intended 30,000 borrowers got assistance.
What happened? Tough income requirements, for one, as the EHLP disqualified people who had landed new jobs after falling behind on their loan payments while being unemployed.
WASHINGTON, Oct 10, 2011 (BUSINESS WIRE) –
Business Roundtable (BRT) President John Engler today lauded the report
of the President’s Council on Jobs and Competitiveness for recommending
a wide range of policy reforms that could strengthen the U.S. private
sector, improve U.S. competitiveness and encourage job creation.
“The Jobs Council took its assignment seriously and has made sound,
balanced policy recommendations focused on private-sector job creation,”
said Engler, president of the association of chief executive officers of
major U.S.-based industries. “Business Roundtable appreciates the
Council’s positive approach. We hope these recommendations elevate the
national discussion about what it takes for the United States to compete
successfully in the global economy.”
“In infrastructure, energy development, technology, training and many
other places, the Jobs Council report identified examples of where a
slow and unresponsive federal government has hindered growth and
hiring,” Engler continued. “Over-regulation and ineffective permitting
discourage economic growth, and the Council has pointed out ways to
overcome these obstacles.”
“At the same time, the Jobs Council recognized that the federal
government can help create a climate that encourages private sector
investment, research and development, and global opportunity.”
“We trust the President and Congress will give the Council’s report the
serious attention it warrants.”
Established by President Obama in January 2011, the Council on Jobs and
Competitiveness is chaired by Jeff Immelt, Chairman and CEO of GE and a
member of Business Roundtable’s Executive Committee. Also serving on the
Council is BRT Chairman Jim McNerney, Chairman, President and CEO, The
Boeing Company.
Other BRT-member CEOs who serve on the Council are: Ursula M. Burns,
Chairman and CEO, Xerox Corporation; Kenneth I. Chenault, Chairman and
CEO, American Express Company; Lewis “Lew” Hay, III is chairman and
chief executive officer of NextEra Energy, Inc.; Ellen J. Kullman, CEO
of DuPont; Paul S. Otellini, president and CEO of Intel Corporation;
Antonio M. Perez, Chairman and CEO, Eastman Kodak Company; Brian L.
Roberts is Chairman and CEO of Comcast Corporation; and Matt Rose,
Chairman and CEO, BNSF Railway.
Business Roundtable (BRT) is an association of chief executive
officers of leading U.S. companies with over $6 trillion in annual
revenues and more than 14 million employees. BRT member companies
comprise nearly a third of the total value of the U.S. stock market and
invest more than $150 billion annually in research and development —
nearly half of all private U.S. R&D spending. Our companies pay $163
billion in dividends to shareholders and generate an estimated $420
billion in sales for small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in combined charitable
contributions.
Please visit us at
www.brt.org ,
check us out on Facebook
and LinkedIn, and follow us on Twitter.
SOURCE: Business Roundtable
Business Roundtable
Kirk Monroe, 202-496-3269
Joe Crea, 202-496-3288
Copyright Business Wire 2011
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AT 8 in the morning, you don’t usually see so many men and women in dark suits unless it’s a memorial service. Especially here, in sunny Las Vegas.
But there they were, 25,000 people representing the business aviation industry along with the extensive worldwide trade media gathered for the annual National Business Aviation Association convention, looking as grave as an assembly of undertakers who had just checked their 401(k)s. Their attire was basically just the conservative business dress suggested by convention organizers. But still, the mood on opening day seemed as dark as the apparel.
Bill Boisture, the chief executive of Hawker Beechcraft, set a dour tone early Sunday morning when he lamented the “inconsistencies” in the market outlook. He also denounced the Obama administration and some Democrats in Congress for being “nothing short of irresponsible” because they had uttered the words “corporate jet” with populist disdain, while calling for measures like reducing certain tax benefits for using private planes.
The industry correctly points out that it accounts for a large number of domestic jobs — 120,000 in manufacturing, down 20,000 since 2008 — and a healthy chunk of the American export trade. But while he railed against Washington, Mr. Boisture was also thrown a bit on the defensive at a news conference when it was noted that Hawker had closed one of its Kansas plants and outsourced jobs abroad. “We felt American industry was playing on an unlevel playing field,” he responded.
Continuing the mood, Scott Ernest, the chief executive of Cessna Aircraft, said, “The market is still very spotty” for business aviation. Cessna, a big player in the light to midsize business jet market, was hard-hit by the recession and is hoping that its newest model, the Citation M2, a light jet, will help turn things around.
The industry, still dominated by American manufacturers, will sell about $230 billion in new business jets in the next 10 years, according to a forecast by Honeywell Aerospace released at the convention. This year, Honeywell said, manufacturers will deliver 600 to 650 new business jets, compared with 732 last year, and down sharply from 1,139 in the industry’s peak year, 2008.
Still, as in many other things during this economic slump, the top luxury niche is doing well. Driven by sharply increased foreign sales, particularly in Asia, Brazil and the Middle East, and the growing need for more long-range international travel by domestic companies, the market for the biggest, most expensive business jets has remained strong.
In the last few years, large cabin, ultra-long-range business jets have been selling robustly, and will represent about 25 percent of projected sales through 2011, Honeywell said. For some companies with far-flung business, said Rob Wilson, the head of Honeywell’s business and general aviation unit, a large cabin long-range plane allows a group of managers to travel efficiently and productively.
“The last trip I took on a large-cabin jet was over to India — two days in India, then a day in Singapore, two days in China and back home, all in five days,” he said in an interview.
Now, whenever I write that corporate aircraft, including charters, can make sense in many business situations, I get furious e-mails accusing me of going to the dark side. So let me hasten to say that I’m leaving Las Vegas in a middle seat on a commercial plane, in a row back by the restrooms, for a trip to New York that will take 12 hours, with connections.
But you should see some of the magnificent corporate jets on display here, on 630,000 square feet of space at Henderson Executive Airport, where conventiongoers are able to wander around the planes and even through them. There are 90 planes, but the star is the new Gulfstream G650, which can fly close to the speed of sound, has a range of 7,000 miles, and can fly as high as 51,000 feet. “Think of it as having the sky to yourself,” Gulfstream ads say.
Gulfstream, which has added 1,300 jobs this year, has orders for that plane that extend into 2017, and announced at the convention that it expected to deliver the first 10 or 12 next year. The price tag for each one is $64.5 million. Curiosity and demand are such that to look inside the G650 model here requires a reservation.
Not on display, but definitely on the market, are even grander airplanes like the so-called V.I.P. models of Boeing’s commercial planes. Those planes are not included in the Honeywell forecast, which looked only at production-model business jets (not converted commercial airliners). The Boeing V.I.P. line includes a private version of the new 787 Dreamliner ($178.2 million, plus cabin outfitting starting at $80 million). Or how about your own private 747? Boeing can put you in one for about $299.5 million. (Cabin outfitting starts at $140 million).
E-mail: jsharkey@nytimes.com