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Chicago Bears and school districts tangle over taxes for potential stadium property in Arlington Heights

Published Fri, 01 Nov 2024 11:25:41 GMT

The Chicago Bears and a trio of school districts whose financial resources stand to be impacted by the football team’s proposed redevelopment of Arlington International Racecourse in Arlington Heights are deadlocked over how much the Bears should pay in property taxes for the site.Team President and CEO Kevin Warren said in a May 4 letter to three school district superintendents that their proposal of a $95 million valuation for the property is a “non-starter” and “not viable.” The valuation would result in the Bears paying $7.9 million in yearly property taxes.“This is an excessive sum for property that will sit idle and will have no commercial use for at least the next two years,” Warren wrote.The Bears countered by proposing annual tax payments of $4.3 million, and called for returning to the negotiating table.Warren’s May 4 letter, obtained by Pioneer Press, addressed collectively to the superintendents of Palatine Community Consol...

Jets’ Quinnen Williams contract situation warrants concern, but not panic

Published Fri, 01 Nov 2024 11:25:41 GMT

On Monday morning, several Jets fans panicked when they saw star defensive tackle Quinnen Williams’ Twitter profile.Williams changed his Twitter bio to say “Defensive Tackle for ………..” He also now has a photo from his college days at Alabama instead of a more recent one in a Jets uniform.It doesn’t take a rocket scientist to know that Williams is unhappy with his contract situation with the Jets. He is entering the final year of his rookie deal, which is scheduled to pay him $9.5 million.Williams told reporters in January he would not attend the Jets’ optional offseason program without a contract extension. Until this point, he has kept his word, as Williams was a no-show for the start of the team’s offseason program on April 17. Along with being unhappy with the lack of progress with his contract situation, Williams has been preoccupied as he and his wife are expecting the birth of their child during the next few weeks.This was ...

Real estate’s popularity as investment tumbles to 5-year low

Published Fri, 01 Nov 2024 11:25:41 GMT

Real estate is again a top investment choice, at least according to an annual poll of typical Americans.But its popularity has tumbled to a five-year low.In a Gallup poll of 1,013 U.S. adults, 34% of respondents in April said property is the best place for their money when asked to choose between real estate, stocks, bonds, golds and savings accounts. It’s nothing new. This poll has ranked real estate No. 1 for 11 consecutive years in a survey dating to 2011.But real estate’s popularity took a steep fall. Its slice of the best-investment pie shrank from last year’s record high of 45% to a low not seen since 2018. That pullback in sentiment aligns with the property industry’s tough conditions – notably costlier financing, weak pricing and overall shaky economics.Now, just how investors define “real estate” is tricky. Ponder some investment results from market watcher Charles Rother at Sector Logic in Santa AnaFor example, do people see real estate ...

US soccer officials to discuss head injuries as 4 more ex-players diagnosed with CTE

Published Fri, 01 Nov 2024 11:25:41 GMT

English soccer star Jimmy Fryatt was known for his ability to head the ball, and the proof of his prowess may be in the damage it did to his brain.Still physically fit in his late 70s, Fryatt played tennis but couldn’t keep score or remember which side of the net he was supposed to be on. He lived in Las Vegas for almost 50 years but started to get lost while riding his bicycle in the neighborhood.“I had to put a tracker on him,” his wife, Valerie, said this week. “I’d call him and say: ‘Stop. I’m coming to get you.’”A North American Soccer League champion who played 18 years in Britain, Fryatt is one of four former professional soccer players newly diagnosed with chronic traumatic encephalopathy. The Concussion Legacy Foundation announced Tuesday that English pro and Oregon State head coach Jimmy Conway, Scottish and Seattle NASL midfielder Jimmy Gabriel, and NCAA champion Franny Pantuosco also were found to have the degenerative brain disease that has been linked to concussions in...

Retail sales up 0.4% in April, buoyed by solid job market and declining prices in some areas

Published Fri, 01 Nov 2024 11:25:41 GMT

NEW YORK (AP) — Americans picked up their spending modestly in April, spending money online and dining out, buoyed by a solid job market and a retreat in prices for some things. Car sales also rose despite prices that continue to soar, according to the Commerce Department report issued Tuesday. But consumers are facing plenty of challenges heading into the second half of the year from tightening credit to a weaker job market. Retail sales increased 0.4% in April compared with March, when sales decreased 0.7%. That is the first retail sales increase since January, when unusually warm weather and a big jump in Social Security benefits juiced spending. Retail sales data from the U.S. are not adjusted for inflation unlike many other government reports, so the headline increase only matched the monthly rise of 0.4% in the government’s consumer price index for April. That indicates that shoppers are struggling to keep up with inflation. Sales at car and auto parts dealers rose 0.4%. Busin...

Executives from failed banks questioned on CEO pay, risk management at Senate hearing

Published Fri, 01 Nov 2024 11:25:41 GMT

NEW YORK (AP) — Executives from two of three banks that recently failed appeared in front of the Senate Banking Committee on Tuesday to respond to questions about why their banks went under and what regulators could have done to avoid the calamities.Along with questions about how these banks failed, senators used the hearing to also address executive pay and whether senior executives in the U.S. are being rewarded more for short-term gains — like rising stock prices — than for ensuring their companies’ long-term health. Executives at Silicon Valley Bank, Signature Bank and First Republic Bank were paid millions of dollars over their tenures up until their banks failed, the bulk of the compensation coming in the form company stock. That stock is now largely worthless but the CEOs still pocketed millions from the planned sales of their shares before the banks’ collapse. Sen. Sherrod Brown, the Democratic chair of the Senate Banking Committee, took aim at executive compensation t...

Crypto rules get final approval to make Europe a global leader on regulation

Published Fri, 01 Nov 2024 11:25:41 GMT

LONDON (AP) — The European Union’s sweeping set of beefed-up cryptocurrency rules got final approval from member states Tuesday, giving the 27-nation bloc a global lead in regulating the freewheeling sector. The European Council adopted the package of rules — known as Markets in Crypto Assets, or MiCA — in the final step of the bloc’s legislative process. European Parliament lawmakers endorsed the rules in April, and they’re expected to start taking effect in phases starting in July 2024. The tighter European scrutiny follows a spate of high profile crypto scandals including the collapse of trading firm FTX and the implosion of the TerraUSD stablecoin. The rules are aimed at improving transparency and combating money laundering and will cover stablecoins — which are usually tied to a hard currency or a commodity like gold that make them less volatile than normal cryptocurrencies. Other digital tokens as well as bitcoin-related services such as trading platforms and...

About one-quarter of small forest fire in southern Nova Scotia contained

Published Fri, 01 Nov 2024 11:25:41 GMT

LITTLE HARBOUR, N.S. — A small wildfire near Nova Scotia’s southern coast is about one-quarter under control. Patricia Jreige, a spokeswoman for the Department of Natural Resources, said today the size of the fire in the Little Harbour area of Shelburne County was about 56 hectares as of 10 a.m.She says firefighting units deployed sprinkler systems to help protect structures in the affected area.Jreige says power has been cut to customers for safety.There are about eight firefighters and one helicopter involved in suppressing the fire.Jreige says the department is working closely with municipal and emergency officials to determine when it is safe to restore power.This report by The Canadian Press was first published May 16, 2023.The Canadian Press

Senegal opposition leader’s trial postponed after day of violence

Published Fri, 01 Nov 2024 11:25:41 GMT

DAKAR, Senegal (AP) — The rape trial of Senegal’s main opposition leader Ousmane Sonko that was due to open on Tuesday in the capital has been postponed until May 23.The delay came after 24 hours of unrest linked to the case against the prominent politician in the West African nation in which the interior ministry says three people died, including a police officer killed by a reversing armored car.Police and Sonko’s supporters clashed Monday in the southern city of Ziguinchor where youths threw stones and used tree trunks to barricade streets leading to Sonko’s house. In the capital, Dakar, around 20 buses were burned in the unrest, which saw protesters hurled stones and firebombs at police, with security forces responding with tear gas. The judge of the criminal chamber of the Dakar high court postponed Sonko’s trial to give lawyers for key witnesses time to go over the court files. Sonko was charged based on a woman’s accusations that he raped her in 2021 when sh...

Italian police dog with fine nose for cocaine sniffs out drugs hidden in banana shipment

Published Fri, 01 Nov 2024 11:25:41 GMT

ROME (AP) — With the help of a high-leaping dog with a fine nose for cocaine, Italian police seized more than 2,700 kilos (about 3 tons) of the drug hidden in 70 tons of boxed bananas shipped from Ecuador, authorities said Tuesday.Police estimated that the cocaine, which they described as of the finest quality, could have brought traffickers more than 800 million euros ($900 million) in street sales if it had reached its ultimate destination in Armenia. Customs police became suspicious about two containers on a cargo ship that recently arrived at the port of Gioia Tauro, in the “toe” of the Italian peninsula and a stronghold of a ‘ndrangheta organized crime clan. Police told Italian state radio that documents and a background check indicated the shippers of the bananas weren’t in the business of moving that much fruit.Officers used scanning machines and the dog, named Joel, to uncover packets of cocaine hidden in boxes stacked meters-high in container trucks.Joel leaped high a...