Chicago in the national news: 10/19

October 19, 2010

In big sports news, Mike Quade has been named manager of the Cubs. Quade was the interim manager for the team until today, says NBC Sports. He's said to have support from Cubs players and is expected to sign a two-year contract with the team. Quade has worked with the Cubs for the past nine seasons and stepped in as interim manager in August, guiding them to a 24-13 record. He told ESPN, "I'm proud of the job that we've done and the way that these guys have finished." Cook County Sheriff Thomas J. Dart may put a stop to area foreclosures reports CNN. The county is currently dealing with 500 evictions that are about to be served and another 1,000 in the works. Last week Dart mailed letters to JP Morgan Chase, Bank of America and Ally Financial to ask for proof that the foreclosures were conducted properly. "I can't possibly be expected to evict people from their homes when the banks themselves can't say for sure everything was done properly," he said. "I need some kind of assurance that we aren't evicting families based on fraudulent behavior by the banks." If he isn't satisfied with the findings, evictions could be halted as soon as next Monday. The University of Chicago has Yale and Harvard beat this year, at least in terms of their endowment fund's growth-- a whopping 19 percent raise compared to the paltry 8.9 (Yale) and 11 (Harvard) percents. Bloomberg's Business Week notes the school claimed their success was based on "a broad recovery of bond and equity markets, strategic changes in the university's approach to investments and strong performance by the university's investment managers." The university's total endowment as of June 30 was valued at $5.54 billion. Click here for last year's list of the top US colleges and universities rated by endowment. Atlantic Magazine's Atlantic Wire asks why Abu Dhabi owns all of Chicago's parking meters. They reference Matt Taibbi's latest tome, Griftopia,which explains how Morgan Stanley pulled‚  a "bait and switch" on the city of Chicago. And if you ever wondered why you suddenly had to pay for parking on holidays? Well, you have Abu Dhabi to thank for that.