Heather Gillers – Page 4

Nathan Goldbaum, of the Chicago Teachers Union, posts fliers on a wall before CTU Vice President Jesse Sharkey holds a news briefing in response to an announcement regarding Chicago Public Schools layoffs and proposed budget cuts Wednesday, July 1, 2015, at CTU headquarters.

Chicago teachers pension board rejects CPS’ request for delay

May 25, 2019 at 1:23 p.m.

Mayor Rahm Emanuel's efforts to avert even larger school cuts hit a roadblock Friday when the teachers pension fund declined to give Chicago Public Schools an extension on a half-billion...

Chicago will pay expensive taxable rates on the bulk of Mayor Rahm Emanuel's upcoming $1.1 billion bond deal.

$730M deal shows how Chicago may use long-term debt for short-term costs

June 14, 2024 at 6:48 p.m.

Chicago will pay expensive taxable rates on the bulk of Mayor Rahm Emanuel's upcoming $1.1 billion bond deal — a costly sign of how much the city has come to...

Chicago Teachers Union supporters march in front of City Hall on July 2, 2015, in protest of cuts coming to Chicago Public Schools.

Mayor Emanuel faces tough trek toward ‘grand bargain’ for shoring up CPS

August 18, 2019 at 7:57 p.m.

Mayor Rahm Emanuel faces a difficult path in his effort to forge a "grand bargain" to steady Chicago Public Schools finances. He needs broad buy-in from state legislators and the...

CPS set for $200 million in cuts; mayor floats property tax plan

August 18, 2019 at 7:56 p.m.

Mayor Rahm Emanuel on Wednesday detailed the fallout he attributes to Chicago Public Schools making good on a $634 million pension payment: 1,050 workers will lose their jobs, 350 vacant...

CPS chief administrator Tim Cawley, right, speaks to the Chicago Teachers' Pension Fund board at a special meeting July 1, 2015. Jesse Ruiz, interim CEO of Chicago Public Schools, is at left.

CPS officials seek pension payment relief, warn of more cuts

August 23, 2019 at 12:39 p.m.

Chicago Public Schools officials warned Wednesday that without relief from their next massive pension contribution, they would have to make $500 million in additional cuts in the coming year, on...

Chicago Board of Education President David Vitale, who will lead the board as it responds to its current financial crisis, masterminded a borrowing strategy in the early 2000s that could force the district to come up with $228 million in penalty payments it hadn't expected.

Chicago Public Schools faces cash crunch now, possible crisis in the fall

August 18, 2019 at 7:52 p.m.

This month's scramble by Chicago school officials to find enough cash to pay the bills is the result of "an appalling situation" years in the making — a cascading financial...

Mayor Rahm Emanuel wants the City Council to approve a borrowing plan that would help forestall a major tax increase.

Emanuel’s $1.1 billion borrowing plan on track at City Council

May 15, 2019 at 2:47 p.m.

The stage is set for the City Council to approve $1.1 billion in long-term borrowing after the Finance Committee on Monday approved Mayor Rahm Emanuel's plan for the largest bond...

Mayor Rahm Emanuel's cash-strapped City Hall is preparing to borrow $1.1 billion to complete his debt restructuring plan and pay off other bills.

Emanuel prepares to borrow $1.1 billion to juggle Chicago debt, pay bills

May 15, 2019 at 2:47 p.m.

Mayor Rahm Emanuel's cash-strapped City Hall is preparing to borrow $1.1 billion to complete his debt restructuring plan, pay off a major court judgment and cover police back pay, among...

Carole Brown, seen in March 2014, is Chicago's new chief financial officer. After Wednesday's deal, she said, "Today we successfully executed one part of that strategy that will eliminate a substantial amount of taxpayer risk."

Chicago to borrow $674 million, but junk status adds millions to cost

August 18, 2019 at 7:39 p.m.

In a measure of how serious Chicago's financial woes have become, the city will pay unusually high interest rates on a $674 million borrowing deal reached Wednesday — the first...

New emphasis on pension debt at Moody’s helped Chicago fall to junk status

August 18, 2019 at 7:38 p.m.

Just two years ago, Chicago's credit was "high quality" in the eyes of Moody's Investors Service — placing it comfortably among other U.S. cities. Today Chicago is scrambling to pay...

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