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Finance - Investments Sub-forum: Non-Actuarial Personal Finance/Investing |
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#1
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![]() Yeah, once I saw this story, I decided Chicago needed to be split off from the Illinois debt watch thread.
http://chicago.cbslocal.com/2013/11/...llennium-park/ Quote:
Yeah, borrowing to cover operating costs is not a good thing. |
#2
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![]() more on the situation:
http://articles.chicagotribune.com/2...-debt-payments Quote:
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#4
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#5
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#7
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![]() Quote:
Borrowing to cover operational costs is what caught my attention, not what it was operational costs for - that's why I spun this thread off. Yes, what would be getting local play is that it's for the park, given most people don't understand the concept of matching debt lifetime to lifetime under which good/service is used. Most people don't understand why borrowing for operational costs is a bad sign of a debt spiral |
#9
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![]() Parking meter with laz was fiasco for sure. My opinion is they should have made meter maids commission based and raised the rates. The meters have all been upgraded to take plastic which is very nice and I doubt would have happened this quickly under public operation.
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#10
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![]() My take on borrowing to meet operating costs:
http://www.pbs.org/newshour/rundown/...ners-safe.html Every public pension plan less than 100% funded is a form of borrowing to meet operating costs. Chicago, $30 million, pfft. |
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