Chicago - A message from the station manager

The [Friday] Papers

By Steve Rhodes

Did the media blow the story of Arthur Bishop, the short-lived director of the state Department of Children and Family Services?
I take a look in The Sad Saga of Arthur Bishop.


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Also, while you’re there: The Week In Juvenile Justice.
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Billion-Dollar Baby
“A bill making its way through the state House would allow Russian steel company Evraz Group to keep its employees’ state taxes,” the Tribune reports.
“In 2011, the state made a deal with Evraz worth $4.2 million in corporate income tax credits over 13 years. In exchange, the company promised to relocate its North American headquarters to Chicago and create 70 jobs.
“The company is now requesting to use that credit against its employees’ withholdings. Companies make such a request when they pay little to no corporate income taxes to the state.”
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“Illinois laid on $3 million in incentives to sweeten the deal for Evraz, including tax credits spread over 10 years and a one-time training grant of $50,000,” the Oregonian reported in 2011.
“The recession bruised Evraz North America, which gained sales again last year and aims to exceed $3 billion in revenues this year. ‘We want to be a $4 billion company going to $5 billion,’ [North America CEO Mike] Rehwinkel said.”
Even if it takes taxpayer money to get there!
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“Shares in the FTSE 100 steelmaker Evraz fell by more than a tenth as the metals company plunged into the red due to falling steel prices,” the Financial Times reported last April.
“Russia’s largest steelmaker, which is part owned by Chelsea FC owner Roman Abramovich, said it would not pay a final dividend ‘due to the deterioration in the market environment, and consequently our performance’ which saw the company swing from an $873m pre-tax profit in 2011 to a $106m loss in 2012.”
That’s the steel business; there happens to be a glut right now.
Oh, and Roman Abramovich is the 137th wealthiest person in the world, with a net worth of $9.1 billion.
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Back to the Trib:
“The bill, which was introduced last month by Rep. Kenneth Dunkin, D-Chicago, now sits in the House Income Tax Subcommittee.”
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Tweeting Chicagoland
I don’t think I can go through a whole season of this.
Beachwood Photo Booth: Jeri’s Grill
Served a million people – and rocked them all.
Prop Bet
Howard Brookins added to the board.
The Week In Chicago Rock
Featuring: Whitney Peyton, Peasant Revolution, Kyary Pamyu Pamyu, Bob Mould, Robbie Fulks & Jon Langford, Fred Frith, The Red Jumpsuit Apparatus, Call It Treason, and Life Once Lived.
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BeachBook
* At Illinois DHS, New And Improved Is ‘Inhumane.’
* Today Show ‘Safety Mom’ Was Really A Paid Endorser.
* Brands’ Facebook Reach Has Crashed.
* Guantanamo’s Restricted Library.
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TweetWood


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The Beachwood Tip Line: Heavy.

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Posted on March 7, 2014