debt

Morning round-up
9:24 am
Thu January 19, 2012

Morning headlines: Thursday, January 19, 2012

The Ill. State Capitol
Flickr/JimBowen0306

Ill. unpaid bills top $4.2 billion in Comptroller's office

Illinois Comptroller Judy Baar Topinka says there are  even more bills piled up in other government departments. She said Wednesday the state's overall backlog is about $8.5 billion. That means organizations that provide services for the state, from businesses to hospitals to charity groups, must wait months to be paid for their work. Topinka's office is still paying bills that date back to Sept. 1 - four and a half months ago.

Read more
SLPS debt payments
3:37 pm
Mon November 21, 2011

$96 million settlement helps SLPS clear one hurdle toward reaccreditation

Michael Lidell (L) and attorney William Douthit (C) watch as Supt. Kelvin Adams announces an agreement that allows the SLPS to use $96 million from the settlement of a desegregation lawsuit to pay off debt and fund education initiatives.
(Julie Linder/St. Louis Public Schools)

For the first time in a decade, the St. Louis Public Schools will be debt-free.

Superintendent Kelvin Adams announced today that the district has entered an agreement with the plaintiffs in a 1972 case over the district's segregation policies that frees up $96 million for debt reduction and district operations.

Read more
Economy/City credit
4:43 pm
Thu August 11, 2011

City of St. Louis retains good credit rating - for now

Arch Grants' Executive Director, Sarah Spear, and CEO, Jerry Schlicter, announced the 15 winners of the program's global business plan competition.
Joseph Leahy/St. Louis Public Radio

On Saturday, Standard and Poor's downgraded the debt of the United States a notch.

But the ratings firm continues to see debt issued by the city of St. Louis as a good investment, though vulnerable to economic shocks.

Read more
Illinois
11:46 am
Fri April 29, 2011

Quinn: Approve borrowing or lose local tax revenue

Illinois Gov. Pat Quinn wants to suspend about $1 billion in state income tax payments to cities and counties unless he gets legislative approval to borrow billions of dollars to pay overdue bills.

Quinn floated the plan in draft legislation he showed lawmakers earlier this week. It was first reported by the Chicago Tribune.

Read more
Debt collection suits
12:49 pm
Tue April 5, 2011

State appeals court rejects suit against debt collectors

A three-judge panel of the Missouri Court of Appeals has dismissed two lawsuits filed by Attorney General Chris Koster that argued debt collection companies were violating the state's Merchandising Practices Act.

The rulings appear to be the first time a state court has considered whether the MPA applies to third-party actors like debt collectors.

Read more