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New Contract Earns Chicago Schools 2nd Credit Downgrade – In One Quarter

jkacan Wrote: Sep 29, 2012 1:30 PM
I am tired of heard about public teacher and politic,that Mayor Dems showhow ignorant and stupid is,Dems defend a Union and teacher and now mock in his face,and if he are a real man was control him not let Union and teacher control.Give a voucher to all student,and move out of Public school,and there start close school and laid off teacher,and see where if will found another job.What was happening in Chicago show clear,all Union must stop exist and close down,with no Union is will no problem.
modernmover Wrote: Sep 29, 2012 9:42 PM
Or, quit waiting for a voucher. Do what is right by your children. I paid all my school taxes and my 2 sons never set foot inside a public school. I worked harder to make enough money to send them to a private school until graduation. They then received academic scholarships to college for the bachelors in mechanical engineering and the Phd in science, which cost me nothing and them no student loans.

Sound financial management clearly wasn’t a concern to any party involved in the recent contract negotiations in Chicago Public Schools.

They were warned that new labor expenses might result in a credit downgrade for the financially-strapped school district, and they chose to ignore it.

Now it has comes to pass. The credit rating agency Moody’s has downgraded the school district for the second time in one quarter.

Moody’s wrote:

“The negative outlook reflects the school district's budgeted depletion of reserves to fund ongoing operations in fiscal 2013; the moderate additional unbudgeted salary costs of labor...