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The 3rd largest school district in the nation laid off more than 1,000 employees, and students are now calling it 'racist'

August 17, 2016
Business Insider

Chicago Public Schools (CPS) laid off more than 1,000 employees in August. The firings were over budgetary concerns and impacted 508 teachers and 521 support staff. Brian Battle of Performance Trust comments on the move by CPS.

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Despite CEO's optimism, experts say CPS operating in ‘crisis mode'

August 17, 2016
Chicago Tribune

Chicago Public Schools CEO Forest Claypool expressed optimisim last week by introducing a 5.4 billion dollar operating budget that will align forecasted expensditures with anticipated revenue. Public hearings on the prospal go underway this week before the August 24th school board vote. However, it is still clear that the system's finances are in trouble. Brian Battle, a director at the Performance Trust financial firm who has studied CPS finances states, "They're operating in crisis mode. They're managing the CPS budget month to month, quarter to quarter, in six-month increments. Where's the five-year plan? I have no doubt they can make it through, engineer their way through the next five years, but that's still not a five-year financial plan."

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Bond Investors Fear These Words: Call Me Maybe?

August 1, 2016
Wall Street Journal

Some callable bonds include provisions that let issuers "call" them before maturity, which has been happening more often recently. Performance Trust's Andrew Pace comments on this trend and calculates the impact for investors.

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