WBEZ | bond rating http://www.wbez.org/tags/bond-rating Latest from WBEZ Chicago Public Radio en Morning Shift: Chicago’s best neighborhood bars http://www.wbez.org/programs/morning-shift/2015-06-15/morning-shift-chicago%E2%80%99s-best-neighborhood-bars-112191 <p><div class="image-insert-image "><img alt="" class="image-original_image" src="http://www.wbez.org/system/files/styles/original_image/llo/insert-images/Susan%20Stienstra.jpg" style="width: 600px; height: 400px;" title="Flickr/Susan Stienstra" /></div><div class="image-insert-image ">&nbsp;</div><div class="image-insert-image ">&nbsp;</div><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/210440989&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_artwork=false" width="100%"></iframe></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);"><span style="font-family: inherit; font-size: 24px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">Blackhawks on the cusp of Stanley Cup victory</span></p><p><span style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">We&rsquo;re halfway through June and baseball season is in full swing. Nobody in Chicago is pining away for winter. But all eyes are still on the ice, as the Blackhawks continue their run for a third Stanley Cup since 2010. WBEZ&rsquo;s sports contributor Cheryl Raye Stout looks ahead to Monday night&rsquo;s Game Six.&nbsp;</span></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);"><strong style="margin: 0px; padding: 0px; border: 0px; font-stretch: inherit; vertical-align: baseline;">Guest:&nbsp;</strong><em><a href="https://twitter.com/Crayestout">Cheryl Raye Stout</a> is WBEZ&#39;s sports contributor.&nbsp;</em></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);">&nbsp;</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/210440986&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_artwork=false" width="100%"></iframe></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);"><span style="font-family: inherit; font-size: 24px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">Chicago prepares to borrow $1.1 Billion</span></p><p><span style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">Mayor Rahm Emanuel is getting ready to borrow $1.1 billion as part of his debt restructuring plan. It would be his biggest round of borrowing yet. Monday, the City Council&rsquo;s Finance committee weighs in, and the full Council is expected to vote on the measure later this week. So, what does this mean for the <a href="http://www.wbez.org/news/moodys-downgrades-chicago-credit-rating-junk-bond-status-112020">already financially strapped</a> city? Brian Battle, Director of Trading at Performance Trust Capital Partners, an investment advisory firm here in Chicago, joins to explain.</span></p><p><strong style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; padding: 0px; border: 0px; font-stretch: inherit; vertical-align: baseline;">Guest:&nbsp;</strong><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;"><a href="http://www.performancetrustuniversity.com/our-faculty/brian-battle">Brian Battle</a> is the&nbsp;</em><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">Director of Trading at <a href="http://www.performancetrust.com/">Performance Trust Capital Partners</a>.</em></p><p>&nbsp;</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/210440983&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_artwork=false" width="100%"></iframe></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);"><span style="font-family: inherit; font-size: 24px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">Assessing the morals, values, and priorities in the IL state budget</span></p><p><span style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">Monday, a group of clergy stage a protest in the Loop over spending <a href="http://www.wbez.org/programs/afternoon-shift/2015-01-12/afternoon-shift-bruce-rauner-says-illinois-moral-and-ethical">cuts proposed by Governor Rauner</a>. They say the cuts fall disproportionately on the poor. And they&rsquo;re calling their protest &ldquo;Moral Monday&rdquo; after a similar movement organized recently in North Carolina. So, how much should politicians consider morality when they&rsquo;re crafting budgets, spending cuts, and tax increases? Should a budget be a moral document? We explore those questions with Rabbi Brant Rosen, Midwest Regional Director for the American Friends Service Committee, and Reverend Tom Gaulke, the Pastor at the First Lutheran Church of the Trinity in Bridgeport.&nbsp;</span></p><p><strong style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; padding: 0px; border: 0px; font-stretch: inherit; vertical-align: baseline;">Guests:&nbsp;</strong><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;"><a href="https://www.afsc.org/story/brant-rosen-named-new-regional-director-afscs-midwest-region">Rabbi Brant Rosen</a> is the Midwest Regional Director for the <a href="https://twitter.com/afsc_org">American Friends Service Committee.</a></em></p><p><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;"><a href="http://tombobjr.blogspot.com/">Tom Gaulke</a> is the Pastor at Bridgeport&#39;s <a href="https://twitter.com/FirstTrinityChi">First Lutheran Church of the Trinity</a>.</em></p><p>&nbsp;</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/210440979&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_artwork=false" width="100%"></iframe></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);"><span style="font-family: inherit; font-size: 24px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">Chicago&#39;s best neighborhood bars</span></p><p><span style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">One of the things that makes Chicago unique, and frankly so great, is its long tradition of neighborhood corner bars. Even as the boutique beer business continues to blow up, for some, Old Style will forever remain the the true Chicago style. But how did a Milwaukee beer become so closely associated with Chicago? We dive into the history of the Chicago dive bar with Bill Savage, a writer and lecturer at Northwestern University and Liz Garibay, she&#39;s a writer, historian and founder of <a href="http://www.tavernhistory.com/">History on Tap.</a>&nbsp;</span></p><p><strong style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; padding: 0px; border: 0px; font-stretch: inherit; vertical-align: baseline;">Guests:&nbsp;</strong><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;"><a href="https://twitter.com/RogersParkMan">Bill Savage</a> is a&nbsp;</em><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">a writer and lecturer at Northwestern University.&nbsp;</em><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">&nbsp;</em></p><p><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;"><a href="https://twitter.com/LizGaribayChi">Liz Garibay</a> is a writer, historian and founder of <a href="https://twitter.com/historyontap">History on Tap.</a>&nbsp;</em></p><p>&nbsp;</p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/210440975&amp;color=ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_artwork=false" width="100%"></iframe></p><p style="margin: 0px 0px 18px; padding: 0px; border: 0px; font-family: Arial, sans-serif; font-size: 14px; font-stretch: inherit; line-height: 22px; vertical-align: baseline; color: rgb(51, 51, 51);"><span style="font-family: inherit; font-size: 24px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">Nneka&nbsp;</span><span style="font-family: inherit; font-size: 24px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit;">(Nneka Lucia Egbuna)</span></p><p><span style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;">Born and raised in Nigeria, <a href="https://instagram.com/nnekaworld">Nneka</a> emigrated to Germany at the age of 19. There, she honed her craft as a singer and songwriter, blending afrobeat, soul, reggae, and hip-hop. Her latest album, <a href="https://itunes.apple.com/us/album/my-fairy-tales/id948700586">&ldquo;My Fairy Tales&rdquo;</a> is both deeply political and deeply spiritual. And it&rsquo;s the first release on her own label. Nneka plays tunes from that new release on the Morning Shift.</span></p><p><strong style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px; margin: 0px; padding: 0px; border: 0px; font-stretch: inherit; vertical-align: baseline;">Guest:&nbsp;</strong><em style="color: rgb(51, 51, 51); font-family: Arial, sans-serif; font-size: 14px; line-height: 22px;"><a href="https://twitter.com/nnekaworld">Nneka Lucia Egbuna</a> is a Nigerian musician.&nbsp;</em></p></p> Mon, 15 Jun 2015 10:12:00 -0500 http://www.wbez.org/programs/morning-shift/2015-06-15/morning-shift-chicago%E2%80%99s-best-neighborhood-bars-112191 What does it mean when the state halts a bond offering? http://www.wbez.org/news/what-does-it-mean-when-state-halts-bond-offering-105268 <p><p><iframe frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F77328063" width="100%"></iframe></p><p>Earlier this week, Illinois abruptly halted a bond offering because officials said the markets were &ldquo;unsettled&rdquo; by it.</p><p>Think of it this way: Illinois creating a bond offering is like a person trying to take out a home equity line of credit. (It&#39;s not a perfect analogy: When the state of Illinois issues bonds, they don&#39;t have to put up collateral in the way a person would. But, they&#39;re backed by the millions of taxpayers across Illinois investors assume will foot the bill.)</p><p>That&rsquo;s what the state was doing Wednesday with its $500 million bond offering that was intended to fund infrastructure projects, including for transportation, schools and other construction work.</p><p>Illinois&#39;s director of capital markets, John Sinsheimer, shopped the offering around for the state - mostly with big banks. But he found that the buyers were offering too big of a range on interest rates for the bond.</p><p>&quot;So we decided it was appropriate to pull the bonds off the street, cancel the sale for the time being and really let the markets digest the news of the downgrades,&quot; Sinsheimer said.</p><p>He said the state started working on the offering in late December, around the time that <a href="http://www.moodys.com/research/Moodys-revises-State-of-Illinois-rating-outlook-to-negative-from--PR_262236">Moody&#39;s revised its opinion</a> of the state&#39;s credit standing to negative.</p><p>Those negative revisions were followed by <a href="http://www.reuters.com/article/2013/01/24/idUSWNB002QI20130124">Fitch</a> and just last week, Standard and Poor&#39;s, which rates Illinois as the same credit risk level of the nation of Botswana. (<a href="http://www.chicagotribune.com/news/opinion/editorials/ct-edit-debt-20130201,0,722108.story">The Chicago Tribune bemoaned</a> the insult to Botwsana.)</p><p>It wasn&rsquo;t just the Illinois&rsquo; credit rating downgrade that canceled the sale. Performance Trust Capital Partner&#39;s Brian Battle explained it this way:</p><p>&quot;It&rsquo;s sort of like bringing a Picasso to auction and people aren&rsquo;t quite sure it&rsquo;s a Picasso,&quot; he said. &quot;If you get a bid for a $1, the next time you come to auction it&rsquo;s going to hurt, because it&rsquo;s always going to be that piece of art that had a $1 bid and maybe it&rsquo;s not a Picasso.&quot;</p><p>In other words, the market is so unsure about lending to Illinois that the interest rates it offers varied widely. By pulling the plug on the offering, none of those rates were published - so no one knows what the bond market really thinks of Illinois right now.</p><p>Sinsheimer said the decision to pull the plug on the long-planned offering came from the Governor&#39;s office, but that it was not done to send a message to legislators that they need to act on fixing the state&#39;s fiscal crisis.</p><p>&quot;We didn&rsquo;t cancel the sale to get legislators to act, but obviously I hope they understand what the market is telling us and will react accordingly,&quot; he said.</p><p>He said they plan to try again within a few months.</p><p>The state says they&rsquo;re hoping the market will be more willing to lend to Illinois soon. Sienshimer says they&rsquo;ll try again in the next few months.</p></p> Thu, 31 Jan 2013 18:22:00 -0600 http://www.wbez.org/news/what-does-it-mean-when-state-halts-bond-offering-105268