Chief Financial Officer
She is the consummate insider going through the revolving door of government service to corporate wealth. Her organization, Scott Balice Strategies LLC, specializes in privatization. She is a walking conflict of interest at the very best and at worst a gateway to some horrid public policy. http://www.chicagoreader.com/Bleader/archives/2011/04/19/emanuels-pick-for-city-cfo-from-firm-known-for-privatization-work & http://www.epi.org/page/-/old/issueguides/socialsecurity/policybriefs/privatization.pdf.
I know Mayor Emanuel said that you have to wait two years to lobby once you leave his administration. So how does it work if you join the administration from a place that will be dealing with the administration and are now the bridge between the administration and that place?
Alexandra is such an avid believer in privatization that one of our city’s arch-fiends of market-forces, Laurence Msall, loves her and Lois Scott. When the President of the Chicago Civic Federation, a guy that HATES government thinks you’re going to do a great job and you work in government… government and the governed are in real trouble. Here’s what he said about Alexandra & Lois Scott http://www.examiner.com/conservative-in-chicago/chicago-going-on privatization-binge and here’s what he hopes they will to do “for” us http://civicfed.org/sites/default/files/civicfed_226.pdf. You read that right? It scared you didn't?
While holding the post of Deputy State Treasurer and Chief Financial Officer for the State of Ohio Treasury he oversaw more than $11 billion in state investments, $9 billion in state debt obligations and over $150 billion per year in custodial assets for Ohio's pension systems and by oversaw I mean give money to banks involved in fraud and contracts to friends and cronies. http://www.cleveland.com/open/index.ssf/2010/06/ohio_treasurer_picks_bank_faci.html. He should be right at home here in Chicago... I got an incredibly bad feeling about this guy.
Deputy Mayor & Chair of Council Budget, Business Development & Economic Issues
You have heard that he will work for $1 a year and this may be because that’s how much his services may actually be worth. Here’s an example of some of his financial wizardry: MidOcean Partners got into bed with Sbarro, based in Melville, N.Y., employs about 5,000 people and that led to Sbarro cutting jobs and closing stores in the wake of the global financial crisis. Its troubles stem in part from debt taken on in 2007 to back a buyout by private-equity firm MidOcean Partners. The private-equity firm’s current ownership stake is likely to be wiped out in the bankruptcy.
Battered by the recession Sbarro closed more than 150 restaurants in two years. It showed a loss of about $29.3 million during the first nine months of last year on sales of roughly $239 million. For 2009 it reported a loss of $ 37.2 million. It had about $12.67 million cash and cash equivalents at the end of September. Bad for the little people but the Deputy Mayor looked out for his people. The losses prompted the company in December to raise salaries and hand out bonuses for top executives and managers to keep them from leaving.
Meantime, Sbarro’s lackluster earnings caused it to violate its debt terms, which led to the bankruptcy. Then, after the bankruptcy, MidOcean and the Deputy Mayor were among the first entities in line, to get some cash afterwards. http://wearechangenewjersey.com/?m=201104. If Mr. Angelson runs the city like a business all I can see is the scene from Godfather II where Hyman Roth cuts up the birthday cake in Havana. God help a brother out.