Wednesday, September 14, 2011

Goldman Sachs brings small-business help to Chicago - Chicago Sun-Times

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Dina Powell, president of the Goldman Sachs Foundation, announces the program Tuesday. | Brian Jackson~Sun-Times

Updated: September 14, 2011 12:23AM

Small businesses that desperately need the know-how and the capital to survive in a down economy would have access to both, thanks to a $25 million program bankrolled by an investment banking heavyweight.

Chicago will become the sixth U.S. city to benefit from the 10,000 Small Businesses initiative launched by Goldman Sachs in New York, Los Angeles, Houston, New Orleans and Long Beach, Calif.

Mayor Rahm Emanuel made his fortune in investment banking. He lobbied the company to add Chicago and delivered, with an assist from his longtime friend and adviser Penny Pritzker, who?s a member of the Goldman Sachs National Advisory Board for 10,000 Small Businesses.

Penny Pritzker served as President Barack Obama?s national finance chair in 2008 and was appointed to the school board by Emanuel. She and her husband contributed $1 million to the $5 million pool of money the mayor plans to use to provide merit pay for principals.

In Chicago, the 10,000 Small Businesses initiative will provide $20 million worth of loans to small businesses that often have a tough time accessing capital.

The remaining $5 million will go to the Chicago City Colleges to provide ten, all-day Saturday classes that provide small business owners with 100 hours of ?customized? training in such critical areas as marketing, negotiations and how to navigate the maze of government contracts.

?The deck was stacked against small businesses,? said Emanuel, who has reformed and simplified city contracting to even the playing field.

?The way procurement was designed across different city agencies, it was prohibitive to small- and minority-owned businesses. You could only absorb the cost if you were a large business.?

Dina Powell, president of the Goldman Sachs Foundation, added, ?Of course, capital for growth is critical. But, if you don?t know how to use that capital, and you don?t have that knowledge and the growth plan along with it,? money alone doesn?t do a small business any good.

During a news conference Tuesday at Harold Washington College, Pritzker told the story of Demolition Diva, a residential and commercial demolition company formed by a New Orleans woman after Hurricane Katrina.

Before participating in 10,000 Small Businesses, the owner of Demolition Diva was saddled with more than $2 million in receivables that threatened the long-term health of her business.

Since graduating from the program in June, the woman has secured more than fifteen new contracts, collected over $1 million of her outstanding receivables and implemented an incentive program for her employees, Pritzker said.

?We couldn?t be more pleased with the success that 10,000 Small Businesses has had ? and that success is coming to Chicago,? Pritzker said.

To qualify for the 8 a.m.-to-5 p.m. classes, small business owners must be in business for at least two years, have annual revenues ranging from $150,000 to $4 million and employ at least four full-time workers.

The Chicagoland Chamber of Commerce, the Chicago Urban League, the Women?s Business Development Center and the Illinois Hispanic Chamber of Commerce will ?spread the word? and help recruit top-notch teachers and mentors.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGlyb3EOF0wag8-uXUC-1fAJ1r46A&url=http://www.suntimes.com/business/7639028-418/goldman-sachs-brings-small-business-help-to-chicago.html

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Goldman Sachs brings small-business help to Chicago - Chicago Sun-Times

Story Image

Dina Powell, president of the Goldman Sachs Foundation, announces the program Tuesday. | Brian Jackson~Sun-Times

Updated: September 14, 2011 12:23AM

Small businesses that desperately need the know-how and the capital to survive in a down economy would have access to both, thanks to a $25 million program bankrolled by an investment banking heavyweight.

Chicago will become the sixth U.S. city to benefit from the 10,000 Small Businesses initiative launched by Goldman Sachs in New York, Los Angeles, Houston, New Orleans and Long Beach, Calif.

Mayor Rahm Emanuel made his fortune in investment banking. He lobbied the company to add Chicago and delivered, with an assist from his longtime friend and adviser Penny Pritzker, who?s a member of the Goldman Sachs National Advisory Board for 10,000 Small Businesses.

Penny Pritzker served as President Barack Obama?s national finance chair in 2008 and was appointed to the school board by Emanuel. She and her husband contributed $1 million to the $5 million pool of money the mayor plans to use to provide merit pay for principals.

In Chicago, the 10,000 Small Businesses initiative will provide $20 million worth of loans to small businesses that often have a tough time accessing capital.

The remaining $5 million will go to the Chicago City Colleges to provide ten, all-day Saturday classes that provide small business owners with 100 hours of ?customized? training in such critical areas as marketing, negotiations and how to navigate the maze of government contracts.

?The deck was stacked against small businesses,? said Emanuel, who has reformed and simplified city contracting to even the playing field.

?The way procurement was designed across different city agencies, it was prohibitive to small- and minority-owned businesses. You could only absorb the cost if you were a large business.?

Dina Powell, president of the Goldman Sachs Foundation, added, ?Of course, capital for growth is critical. But, if you don?t know how to use that capital, and you don?t have that knowledge and the growth plan along with it,? money alone doesn?t do a small business any good.

During a news conference Tuesday at Harold Washington College, Pritzker told the story of Demolition Diva, a residential and commercial demolition company formed by a New Orleans woman after Hurricane Katrina.

Before participating in 10,000 Small Businesses, the owner of Demolition Diva was saddled with more than $2 million in receivables that threatened the long-term health of her business.

Since graduating from the program in June, the woman has secured more than fifteen new contracts, collected over $1 million of her outstanding receivables and implemented an incentive program for her employees, Pritzker said.

?We couldn?t be more pleased with the success that 10,000 Small Businesses has had ? and that success is coming to Chicago,? Pritzker said.

To qualify for the 8 a.m.-to-5 p.m. classes, small business owners must be in business for at least two years, have annual revenues ranging from $150,000 to $4 million and employ at least four full-time workers.

The Chicagoland Chamber of Commerce, the Chicago Urban League, the Women?s Business Development Center and the Illinois Hispanic Chamber of Commerce will ?spread the word? and help recruit top-notch teachers and mentors.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGlyb3EOF0wag8-uXUC-1fAJ1r46A&url=http://www.suntimes.com/business/7639028-418/goldman-sachs-brings-small-business-help-to-chicago.html

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17-year-old boy charged in beating deaths of parents in suburban Chicago - Washington Post

BRIDGEVIEW, Ill. ? Authorities say they arrested the teenage son of a Chicago couple found dead in their home after figuring out he lied about his whereabouts the night they were killed.

Seventeen-year-old John Granat is facing first-degree murder charges in the deaths of his parents. He was denied bond Tuesday.

(no/Associated Press) - This undated photo provided Sept. 13, 2011 by the Cook County Sheriff?s Department, shows 17-year-old John Granat, of Palos Park, Ill. Granat was charged with first-degree murder in the deaths of his parents, 42-year-old Maria Granat and 44-year-old John Granat, who were found beaten to death at their home Sunday, Sept. 11, 2011, in Palos Park.

Cook County Sheriff Tom Dart says Granat told investigators he was home all night. But they later determined he?d been pulled over by police two hours before he called 911 to report finding his parents dead early Sunday in their Palos Park home.

The county medical examiner says 42-year-old Maria Granat and 44-year-old John Granat died after suffering multiple blunt force injuries.

Police haven?t revealed a motive for the killings but say the teen had made past death threats against his parents.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNG91mPLCjBnzibRdJ8RIwkwtmE5VA&url=http://www.washingtonpost.com/national/17-year-old-boy-charged-in-beating-deaths-of-parents-in-suburban-chicago/2011/09/13/gIQAToNKPK_story.html

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Tuesday, September 13, 2011

Teachers union: Pattern longer CPS day after Emanuel kids' school - Chicago Sun-Times

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The University of Chicago Lab School, Blaine Hall 1362 e 59th. Tuesday, September 13, 2011 | Brian Jackson~Chicago Sun-Times

Updated: September 13, 2011 10:56PM

Using the elite private school where Mayor Rahm Emanuel now sends his kids as a starting point, Chicago Teachers Union officials have crafted a proposed schedule that adds 75 minutes to the typical public elementary school student?s day.

The union?s latest salvo in the battle over a longer school day uses as a comparison point the schedule of one third-grade classroom at the University of Chicago Laboratory Schools, union officials said Tuesday.

Just like at what U of C kids often call ?the Lab School,?? the CTU proposal offers a well-rounded curriculum featuring far more art, music, physical education and other extras than most CPS kids now get and even includes the study of a second language.

Ultimately, the proposed CTU schedule would provide an even longer school day than the Lab School , where a third-grader?s tuition is $21,876. And it does so without requiring Chicago Public School teachers to add any minutes to their work day.

However, the schedule is 15 minutes shorter per day for kids than the one proposed by Emanuel and Schools CEO Jean-Claude Brizard for next school year. And, it probably would require many schools to hire extra teachers to provide the kind of enrichment that the Lab School now offers.

?The University of Chicago Lab School has the reputation of being one of the best schools in the country, not just Chicago,?? said Jackson Potter, chief of staff to CTU President Karen Lewis.

?And obviously, the mayor sends his children there. The president [Barack Obama] sent his children there. So it?s highly regarded by people who make education policy. That seems a good method for determining how this district should operate.??

The proposed CTU schedule is just a ?starting point?? for discussion on the longer school day that CPS officials and Emanuel have said they intend to implement systemwide, starting next school year, after the current teachers contract expires June 30, Potter said.

In the meantime, Emanuel has urged schools to join a pilot project to add 90 minutes to their school day this school year. On Tuesday, Nash and Disney II Magnet became the sixth and seventh CPS elementary schools in which teachers approved waiving the current CTU contract to take on a longer school day.

Signing on to the pilot nets schools $150,000 if they start the longer day in September and $75,000 if they start it in January. Teachers get a two percent pay boost for the extra days worked out of the deal.

CPS officials contend the system?s current 5 hour and 45 minute day for kids is the shortest among the 10 largest cities in the country. Emanuel made extending the CPS school day and year a cornerstone of his mayoral campaign, saying kids had gotten ?the shaft?? for too long.

The union?s long-awaited proposal follows contentions by Lewis that she would not be publicly ?bullied?? into a slapdash longer school day this year. She has urged union members to reject waivers and let CTU union officials negotiate a longer day on their behalf next school year. Emanuel?s waiver drumbeat, Lewis has said, amounts to ?a declaration of war?? on the CTU.

The CTU?s proposal pads out the day for kids by moving teachers? 45-minute lunch from the end of the day to the middle of the day, and having teachers start work at the same time as kids instead of a half-hour earlier. That mere tweak of the typical current elementary-school schedule adds 75 minutes to most student?s day without lengthening a teacher?s work day.

Other big changes include boosting the amount of art offered in a week from 30 to 90 minutes and the amount of music from 60 to 90 minutes a week to mimic that offered at the U of C Lab Schools.

Physical education minutes would more than double, from 60 minutes to 135 minutes a week, also following the Lab School template. CPS kids also would enjoy more time in science, the library and computer classes under the CTU proposal.

Their time for lunch and recess combined would more than double, but even at 225 minutes a week, it still would not reach the 300 minutes a week Lab kids now get.

All CPS elementary students would learn a second language, just like at the Lab School ? a real plus in the world?s growing ?global economy,?? Potter said.

?We don?t want to just teach to the test. We want a very rich curriculum that provides a spread of different topics that students need to know about the world,?? Potter said.

?U of C [Lab Schools] has a world-class educational environment,?? Potter said. ?We think this is a schedule that the best and brightest students are provided and all our students deserve the best and that?s what we want to provide for them.??

Contacted Tuesday night, CPS spokeswoman Becky Carroll said ?We?re very pleased that the CTU joins us in calling for a longer day that includes enrichment programs for our students and adds more time for recess.?? Carroll also encouraged Lewis to ?rethink? her decision not to join a CPS longer-school-day advisory panel so ?we can work hand in hand with the CTU to lengthen the day.?

The CTU description of the number of minutes one third-grade Lab School classroom devotes to non-core subjects ? such as art, music and physical education ? ?sound about right,?? said Kay Kirkpatrick, a spokeswoman for the U of C Lab Schools lower school, covering first through fourth grade.

However, Kirkpatrick described a Lab School day for kids as totalling 1,930 minutes a week, more than the 1,795 per week listed by the CTU. The source of the discrepancy was not immediately clear, but even the new Lab School figures amount to a shorter week than the 2,100-minute week for kids the CTU is proposing.

Also, Kirkpatrick cautioned that because the Lab School uses project-based learning, the number of minutes spent on reading, writing, math and social studies is up to each teacher and can vary from classroom to classroom and even from week to week within the same classroom.

Where his children attend school has been a sensitive subject for Emanuel, who cut off an interview with Channel 5 TV?s Mary Ann Ahern earlier this year when she asked him what school his kids would be attending. After the camera stopped rolling, the mayor ?positioned himself inches away?? from her head, raised his voice, pointed a finger at her, and ?admonished?? her for asking such a question, Ahern reported.

Lewis recently revealed that Emanuel jumped up out of his chair, pointed his finger at her, yelled and told her ?F--- you, Lewis? when she accused him of wanting a longer school day for ?public safety? reasons, rather than educational ones.

Asked Tuesday whether he feels the need to apologize for reportedly hurling the ?f-bomb?? at the CTU president, Emanuel changed the subject.

?My view is, this is a distraction from the major issue, which is getting kids an education and time in class learning,?? the mayor said.

Contributing: Fran Spielman

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFKjrFRzKRdr7IETxwG85ZM7Pavsw&url=http://www.suntimes.com/7638508-417/teachers-union-pattern-longer-cps-day-after-emanuel-kids-school.html

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Players don't want to abandon Chicago market - Chicago Tribune

Jerry Kelly is looking out for Chicago golf fans. Or at least he's trying to.

"Chicago needs a tournament," he said Tuesday while walking down the 10th fairway at Cog Hill. "This is in our heartland. There is no way a market like Chicago should be off this schedule."

Chicago is in danger of losing a PGA Tour event after this week's BMW Championship.

With next year's Ryder Cup headed to Medinah, the 2012 BMW will be played at Crooked Stick outside Indianapolis. The 2014 event is set for Denver's Cherry Hills.

Luke Donald is pushing the tour to award the 2013 event to Conway Farms, his home course in Lake Forest. Donald played a practice round there Tuesday.

But the BMW instead could opt to leave Chicago and point to this discrepancy: The 2008 event at Bellerive in St. Louis generated $3.3 million for the Western Golf Association's charitable mission, the Evans Scholars Foundation.

In part because of declining attendance, the 2009 and 2010 events at Cog Hill have averaged $1.8 million.

Cog Hill owner Frank Jemsek said of the possibility of losing the BMW Championship: "It could be nostalgic, but we hope not. We would very definitely like to have the tournament back here, so we'll try."

Kelly, a Wisconsin native and Madison resident, has been trying to help Milwaukee regain a tour event. He also has talked to companies about sponsoring a rebirth of the Western Open, which Cog Hill hosted from 1991 to 2006.

"If BMW doesn't feel like having it in Chicago consistently, I'm one for starting another Western Open," he said. "As hard as I've tried in Milwaukee, I'll try just as hard for here."

Cha-ching: Webb Simpson comes to Cog Hill after winning two of his last three starts, including a grind-it-out playoff triumph over Chez Reavie at the Deutsche Bank Championship. The string of success has vaulted Simpson into the FedEx Cup standings lead over this tournament's defending champion Dustin Johnson.

Whoever sits atop those standings after the Tour Championship outside Atlanta on Sept. 25 wins a cool $10 million. That can buy a lot of range balls.

"We want to win golf tournaments, but when $10 million is at stake, you can't not think about that," he said. "Part of me is kind of happy this week isn't determining who's going to win because you get one more week to focus on the golf. I know in Atlanta it'll be a lot more focus on the $10 million."

Simpson, the father of a young child, joked he would buy more diapers if he lands the prize.

The BMW Championship offers an $8 million overall purse with $1.44 earmarked for the winner. Not to mention more prized FedEx Cup points.

kcjohnson@tribune.com

Twitter @kcjhoop

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFDy_EeowJW00DSLcbZTQlXsjC6iQ&url=http://www.chicagotribune.com/sports/golf/ct-spt-0914-bits-bmw-championship-golf--20110914,0,5690007.story

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JMC Steel wants more than $2M to move HQ to Chicago - Chicago Tribune

An Ohio-based manufacturing company that received $2 million from Illinois to move its headquarters here wants further assistance from Chicago.

On Tuesday, Chicago's Community Development Commission approved the use of $1.12 million in tax-increment financing funds to subsidize renovations to the new offices of JMC Steel Group on the 26th floor of 227 W. Monroe St., the former AT&T Corporate Center. The project has to be approved by the City Council before it is finalized.

JMC Steel Group, a maker of tubular products, says it needs the assistance to offset build out costs of $4.7 million, according to a report presented to the commission on Tuesday.

The company plans to� employ about 100 people at its new headquarters within four years. About half of those workers would relocated from Ohio. The other half would move from the company's Atlas Tube facility in South Deering, according to the report.

The company also agreed to retain a combined 286 workers from its Atlas Tube and Wheatland Tube facilities.

The company didn't return calls seeking comment.

In January, the state doled out a package worth $2 million in corporate income tax credits over 10 years for JMC Steel Group to consolidate its regional offices into a national headquarters in the city.

As part of that deal, the company already had agreed to retain 50 workers from its Atlas Tube facility and move them to the new national headquarters in the Loop.

JMC Steel Group pledged then to invest $10.2 million in the state, including the purchase of furniture and fixtures, lease improvements and lease payments over 10 years. That investment includes the $4.7 million in buildout costs.

Ald. Robert Fioretti, 2nd, said the company has been in conversations with him since the end of last year.

Though he didn't know how much assistance the company received from the state, Fioretti said the Illinois "has been losing the struggle to keep companies here," which is why the city also needs to provide incentives.

"I am a firm believer all companies need incentives from the city," he said, adding that if the TIF funds are approved, JMC Steel Group will receive $224,000 per year over five years.

This proposal cancels a 2003 TIF agreement between the city and Wheatland Tube, a JMC's subsidiary,� to redevelop their facility at 4435 S. Western and maintain 236 workers there over 10 years. The city awarded then $1.9 million in TIF funds over 10 years.

Though Wheatland redeveloped the site, it could only keep about two-thirds of the jobs promised. The company received $590,000 in TIF funds for the four years it kept the number of jobs required. If the new project is approved by City Council, the company will keep that money in addition to the new funds.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE5hrbw8-6LcZ3PwJRkfbpFHAruUw&url=http://www.chicagotribune.com/business/breaking/chi-jmc-steel-may-get-11m-incentive-to-move-hq-to-chicago-20110913,0,7330882.story

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Reds turn to Leake against Cubs - Los Angeles Times

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Right-hander Mike Leake aims to stabilize a recent inconsistent trend tonight when his Cincinnati Reds host the Chicago Cubs in the second of four games at Great American Ball Park.

The Cubs won Monday's opener when Alfonso Soriano drove in three runs and Starlin Castro knocked home three and scored four times in a 12-8 decision.

Castro continued his breakout campaign with his ninth home run of the season, one of three hit by the Cubs and one of seven on the night. Aramis Ramirez finished 3-for-5 and hit his 25th home run for Chicago, which has won three straight.

Rodrigo Lopez (5-6) gave up five runs on nine hits with four strikeouts and one walk over 5 1/3 frames, but it was good enough to halt a three-decision losing streak.

Dontrelle Willis (0-6) remained winless on the season after giving up eight runs on nine hits with three walks over 3 1/3 innings. The southpaw didn't strike out a batter for the Reds, who have dropped three in a row and six of nine. Brandon Phillips hit two home runs in the loss.

Leake, who reached the majors last season out of Arizona State, has alternated wins and losses in his last seven decisions, beginning with a 4-2 defeat against the New York Mets on July 25.

He got a no-decision in his last start, against the Cubs, after going nine frames in the Reds' 13-inning win on Sept. 6.

The 23-year-old is 3-1 lifetime against them with a 2.95 earned run average in 42 2/3 innings over six starts.

He's faced by 34-year-old righty Ryan Dempster, an ex-Red who was on the winning end of Leake's Aug. 5 loss, allowing two runs and four hits in a 4-3 triumph.

Dempster returned to face the Reds again in Sept. 7 and got a no-decision in Chicago's 4-3 victory after giving up 10 hits and three runs.

The British Columbia native hasn't won since Aug. 11, when he completed a three-start streak with a 4-3 triumph over Washington.

A Red for 37 games in 2002-03, Dempster is 7-7 against them in 41 career appearances.

Though the Cubs have won six of their last eight over the Reds, Cincinnati still leads the season series, 8-7.

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEITcULkdHYX-jzTQPhIbqOQv4tFg&url=http://www.latimes.com/sports/sns-tsn-aan-preview-chc-cin-20110913,0,1264798.story

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