Release Date: March 21, 2012

For immediate release

The Federal Reserve Board on Wednesday announced its approval of the application by Adam Bank Group, Inc., Tampa, Florida, to acquire Brazos Valley Bank, National Association, College Station, Texas.

Attached is the Board’s Order relating to this action.

For media inquiries, call 202-452-2955.

Board Votes

Attachment (206 KB PDF)

Federal Reserve Board announces its approval of the application by Adam Bank Group to acquire Brazos Valley Bank | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Preet Bharara, the United States Attorney for the Southern District of New York, and Janice K. Fedarcyk, the Assistant Director in Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), today announced fraud charges against JIA HOU, a/k/a “Jenny Hou,” the campaign treasurer for a candidate (the “Candidate”) seeking citywide elective office in 2013 (the “Campaign”). HOU is accused of participating in a scheme that used “straw donors” to funnel to the Campaign large, illegal contributions that were well above the individual limit authorized by the New York City Campaign Finance Board (the “NYCCFB”), with the intent to fraudulently increase the amount of matching funds provided by NYCCFB to the Campaign. She is also charged with obstructing the government’s investigation of suspected fraud in connection with the Campaign’s fundraising efforts. HOU was arrested this morning and will be presented in Manhattan federal court later today.

Manhattan U.S. Attorney Preet Bharara stated: “New York’s campaign finance laws are not optional. They ensure that all candidates operate on a level playing field and that everyone plays by the rules. Today, we allege that Jia Hou, a Campaign treasurer, was a central figure in a coordinated scheme to break the city’s campaign finance laws. As described in the criminal complaint, Hou concealed the use of straw donors, subverted the city’s electoral system, and obstructed justice. As today’s charges demonstrate, unlawful campaign conduct will not be tolerated.”

FBI Assistant Director in Charge Janice K. Fedarcyk stated: “As the complaint alleges, Hou circumvented the city’s campaign finance rules in a scheme that used straw donors to exceed the limit on individual contributions. The intent of those rules is in part to limit the influence of wealthy contributors on political campaigns. In a very real sense, Hou is accused of undermining the democratic process.”

The following allegations are based on the complaint filed today in Manhattan federal court:

New York City’s Matching Campaign Funds Program

Candidates for elective office in New York City are eligible to receive matching campaign funds from a program administered by NYCCFB. Under the program, for each dollar a New York City resident over 18 years of age contributes to a participating candidate—up to a maximum of $175—the city provides the candidate $6 in matching funds. Accordingly, each candidate could receive up to a maximum of $1,050 in matching funds per contributor. Individuals are allowed to donate up to $4,950 to candidates running for citywide elective offices. For each donation received, campaigns seeking matching funds must provide NYCCFB with a campaign contribution form that includes the donor’s name, address, employment information, and amount donated. The donor must sign the form, acknowledging that he/she is not being reimbursed in any manner for making the contribution.

The Straw Donor Scheme

HOU serves as the Candidate’s treasurer for the 2013 election cycle and is responsible for all financial disclosures related to the Campaign. She is responsible for accounting for every donation and for ensuring that all donations by individuals are within the maximum allowed by New York City. HOU and the Candidate are the only individuals authorized to submit disclosure statements on behalf of the Campaign. HOU is also responsible for disclosing to the NYCCFB the identities of “intermediaries,” also known as “bundlers” involved in soliciting and receiving donations for the Campaign.

HOU participated in a scheme that used straw donors to circumvent the limit on individual contributions and with the intent to fraudulently increase the amount of matching campaign funds provided by NYCCFB to the Candidate’s 2013 campaign. Certain individuals, who wanted to donate more than the legally allowed amount, would instead arrange for straw donors to make contributions that were under the limit. The individuals would then reimburse the straw donors. As part of the scheme, the Campaign submitted fraudulent contribution forms on behalf of the straw donors to NYCCFB. The forms included information about the straw donors as well as their purported signatures acknowledging that each individual donor was not being reimbursed. The information contained in these fraudulent contribution forms is used by the city to determine whether to release matching campaign funds to the Candidate’s 2013 campaign.

In furtherance of the scheme, HOU offered to reimburse an individual for a donation to the Campaign notwithstanding the requirement under New York state law that donations must be paid from a donor’s personal funds and may not be reimbursed in any manner. In a series of instant messages on July 14, 2011, HOU and the individual discussed the reimbursement. After the individual asked if HOU was taking personal funds to reimburse the individual, HOU responded: “Don’t worry about it. I’m gonna mail it to [individual’s residence]. Whenever you get a chance though, I need [you to] sign that form and send it back to me cus [because] I can’t charge your card without a signature.”

HOU also instructed a campaign volunteer (“Campaign-Volunteer-1”) to imitate the handwriting of campaign donors on the contribution forms in order to make it appear that the forms were filled out by the purported contributors and to disguise the Campaign’s use of straw donors. In addition, HOU instructed another campaign volunteer (“Campaign Volunteer-2”) and others not to accept consecutively numbered money orders as donations to the Campaign because NYCCFB had previously notified the Candidate’s 2009 Campaign Treasurer that sequentially numbered money orders indicated that the contributions were coming from the same donors, instead of different donors, as reported. HOU also discussed with Campaign Volunteer- 2 ways to conceal information about campaign fundraisers in order to avoid alerting NYCCFB to the possible use of undisclosed intermediaries and straw donors.

Furthermore, HOU worked closely with individuals who served as intermediaries in connection with multiple events where straw donors were reimbursed for their contributions, and failed to disclose to the NYCCFB their involvement in the Campaign. NYCCFB records show that the Campaign did not disclose any bundlers or intermediaries for the 2013 New York City election cycle until January 17, 2012, despite the fact that the Campaign had been raising funds since at least December 2009. On January 17, 2012, the Campaign disclosed a list of approximately 59 intermediaries to the NYCCFB, but that disclosure did not include multiple individuals who appear to have served in that capacity.

In addition, HOU impeded the government’s investigation of suspected fraud in connection with the Campaign’s fundraising efforts. Specifically, in an apparent attempt to frustrate the investigation, HOU failed to produce facially inculpatory documents in response to subpoenas served on her and represented that her production of documents was complete when in fact it was not.

***

HOU, 25, of Queens, New York, is charged with one count of conspiracy to commit wire fraud, one count of attempting to commit wire fraud, and one count of obstruction of justice. Each count carries a maximum sentence of 20 years in prison.

Mr. Bharara praised the investigative work of the FBI and expressed appreciation to the New York City Department of Investigation for its contribution to this ongoing investigation.

This case is being prosecuted by the office’s Public Corruption Unit. Assistant U.S. Attorneys Steve C. Lee, Brian A. Jacobs, and Justin Anderson are in charge of the prosecution.

The charges contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

Manhattan U.S. Attorney and FBI Assistant Director in Charge Announce Fraud Charges Against Campaign Treasurer for Candidate Seeking Citywide Elective Office in 2013 | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, Nov. 11, 2011 /CHICAGOPRESSRELEASE.COM/ – Chicagoans already pay the highest spirits tax in the nation. In fact, taxes on spirits have been increased four times since 2005. Now Cook County Board President Toni Preckwinkle wants to pile on yet another job-killing tax hike on distilled spirits and tobacco. Industry analysts predict that these liquor taxes could cost upward of 270 jobs in Cook County, as higher costs squeeze the hospitality industry.

After hundreds of billions of dollars in increased federal taxes out of Washington and a 67 percent state income tax hike out of Springfield, the last thing Chicagoans need is another job-killing tax hike out of Cook County.

WHAT: Opponents of the liquor tax hike will gather at Butch McGuire’s Sunday afternoon to find out why the proposed tax hikes on spirits and tobacco would kill jobs and hurt the economy in Cook County, and what they can do to stop this tax.

WHEN: Press briefing: 2:15 p.m. Sunday, Nov. 13      

WHERE: World Famous Butch McGuire’s Pub, 20 W. Division St., Chicago

WHO: Speakers will include:
Bobby McGuire, owner of Butch McGuire’s
Patrick Gleason, Americans for Tax Reform
John O’Hara, Illinois Policy Institute              

The Illinois Policy Institute is a nonpartisan research and education organization dedicated to making Illinois a beacon for liberty and prosperity for all citizens. As a leading voice for economic liberty and government accountability, the Institute engages policy makers, opinion leaders and citizens on the state and local level by promoting free market principles and liberty-based public policy initiatives for a better Illinois. To learn more about the Institute or review policy briefs, please visit: www.illinoispolicy.org.

Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose all tax increases.  For more information or to arrange an interview please contact John Kartch at 202-785-0266 or by email at jkartch@atr.org.

Contact:
John Kartch, Americans for Tax Reform: 202-785-0266 jkartch@atr.org
Diana Rickert, Illinois Policy Institute 312-607-4977; drickert@illinoispolicy.org

SOURCE Americans for Tax Reform

http://www.illinoispolicy.org

‘STOP THE DRINK TAX!’ Press Conference SUNDAY at World Famous Butch McGuire’s | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, Nov. 11, 2011 /CHICAGOPRESSRELEASE.COM/ — CBOE Holdings, Inc. (NASDAQ: CBOE) today announced the following trading schedule for Chicago Board Options Exchange (CBOE), C2 Options Exchange (C2), CBOE Futures Exchange (CFE) and CBOE Stock Exchange (CBSX) in observance of the Thanksgiving holiday; all times are Chicago time:

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CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE’s Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method. CBOE’s Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports C2 Options Exchange (C2), the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named “Best of the Web” for options information and education.

CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

CBOE-OE
CBOE-EF
CBOE-SX
CBOE-2

CBOE®, Chicago Board Options Exchange®, CBSX®, CBOE Stock Exchange®, CFE®, CBOEdirect®, FLEX®, Hybrid®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWrite(SM), BXM(SM), CBOE Futures Exchange(SM), SPX(SM) and The Options Institute(SM) are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE). SPXpm(SM), C2(SM) and C2 Options Exchange(SM) are servicemarks of C2 Options Exchange, Incorporated. Standard & Poor’s®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC., and have been licensed for use by CBOE and C2.

SOURCE CBOE Holdings, Inc.

http://www.cboe.com

CBOE, C2, CFE, and CBSX Thanksgiving Holiday Trading Schedule | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO – November 7, 2011. Governor Pat Quinn, joined by the Illinois Department of Transportation, Regional Transportation Authority and Pace officials, today announced the Nov. 14 launch of the region’s first Bus on Shoulder program, a two-year pilot project that allows Pace buses on the Stevenson Expressway’s inside shoulder during heavy congestion. The joint effort of IDOT, RTA and Pace, made possible by a $35 million commitment from Governor Quinn to improve the Stevenson Expressway, is designed to ease congestion, improve schedule reliability, and reduce harmful emissions while offering free Wi-Fi service, a first for transit riders in the Chicago area.

“This program will give commuters a safe, reliable and convenient transportation alternative,” Governor Quinn said. “The buses will help ease congestion and improve air quality while keeping riders connected and productive with free Wi-Fi.”

Earlier this year, Governor Quinn signed legislation that allows Pace buses on the shoulders of designated highways. Under the new Bus on Shoulder program, Pace routes 755 and 855, which connect the southwest suburbs, downtown Chicago and the Illinois Medical District, will be allowed to use the inside inbound shoulder for the morning rush hour and inside outbound shoulder for the afternoon return trip, saving commuters valuable minutes when traffic is at its peak. The service, patterned after similar, successful programs in cities such as Minneapolis, Miami and Cincinnati, also will provide free Wi-Fi to customers.

“The RTA commends Pace and IDOT for their extraordinary efforts leading to the launch of our region’s first Bus on Shoulder project. Our agency is thrilled to have led planning efforts in a successful partnership with these agencies,” said RTA Board Chairman John S. Gates, Jr. “We thank Governor Quinn for his support. Commuters will be the beneficiaries of this new cost effective service that we anticipate will save them time, improve service reliability and reduce traffic congestion.”

As part of Governor Quinn’s directive to expand green transportation practices, a $35 million IDOT project this summer to resurface the Stevenson Expressway also improved the shoulders between Interstate 355 and Kedzie Avenue in anticipation of the Bus on Shoulder program. The additional $938,000 cost for items such as extra signs and pavement markings will be offset by federal funds awarded to projects that reduce congestion and improve air quality.

“Our program is modeled after similar operations in other cities that have existed for many years to provide safe, efficient and money-saving service to commuters,” said Pace Board Chairman Richard Kwasneski. “We’ll work with our partners to study information gathered during this pilot project to potentially bring the benefits of bus on shoulder operations to other highways and tollways in our region.”

Safety will be a top priority of the program. Buses can use the shoulders as a passing lane only when traffic is moving slower than 35 mph. They will be restricted to traveling no more than 15 mph over the top speed of vehicles in the expressway lanes and never greater than 35 mph. Pace cannot use the shoulders if they are already being used for snow removal, vehicle breakdowns and traffic stops by law enforcement. The shoulders will always be available to motorists in the event of an emergency. The Illinois State Police will assist IDOT through extra patrols and issuing citations for unauthorized use of the shoulders.

“We are excited to participate in this innovative program and are taking every step to maintain safety on the Stevenson Expressway,” said Acting Illinois Transportation Secretary Ann Schneider. “We hope this small change will produce big dividends in reduced congestion and improved travel times for all commuters.”

For more information on the program, including a short video explaining how the service will work, visit http://www.dot.il.gov/busonshoulder/index.html.

Governor Quinn, RTA, Pace Launch Region’s First Bus on Shoulder Program – Pilot Project on Stevenson Expressway to Encourage Mass Transit Use, Improve Job Access, Ease Congestion and Offer Free Wi-Fi Service | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, Nov. 3, 2011 /CHICAGOPRESSRELEASE.COM/ — The City Colleges of Chicago Board of Trustees voted today to select Dr. Joyce Ester as the next President of Kennedy-King College, one of the City Colleges of Chicago, concluding a nation-wide search for presidents of all seven colleges that began in winter 2011.

“City Colleges of Chicago is committed to providing our students with credentials of economic value to prepare them for further college or a career,” said Board Chairman Martin Cabrera Jr.  ”With this presidential selection, Chancellor Hyman and I will have assembled a team that will enable us to achieve our ambitious student success goals and transform City Colleges of Chicago into a world-class community college system.”

“Dr. Joyce Ester brings extensive experience in higher education administration with a special focus on student affairs and has demonstrated a track record of results-driven leadership that will allow us to build off Kennedy-King College’s strong occupational and academic programs and enhance the college’s role as a community anchor for Chicago’s South Side,” said Chancellor Hyman.

“City Colleges of Chicago is in the midst of a historic Reinvention and I am thrilled to be part of a team that is laser-focused on ensuring student success,” said Dr. Ester.  ”I look forward to working with the faculty and staff of Kennedy-King College to help our students reach their goals whether they aim to immediately secure employment, advance in their current career, or transfer to further their education.”

Dr. Joyce Ester brings more than twenty years’ experience in higher education administration and currently serves as Associate Vice President for Student Services at Bakersfield College in Bakersfield, CA, where she is responsible for the planning, developing, managing and evaluating of comprehensive Student Services programs.  She oversees a student services division of approximately 100 employees who administer the college’s Counseling & Advising Service, Transfer Services, Enrollment Services/Admissions, Assessment Services, Financial Aid, Student Activities, Disabled Students Programs & Services, Articulation, Job Placement, Matriculation, Student Health Center, and Commencement.  She previously served as Assistant Vice President for Judicial Affairs and Division Planning at California State University in Fresno, CA, as Assistant Dean of Students/Judicial Affairs at the University of California Santa Barbara, and as an American Sign Language Adjunct Professor at Santa Barbara City College.  Dr. Ester holds a Ph.D. in Education from the University of California, Santa Barbara and a B.A. in Sociology, Northern Illinois University, DeKalb.

The City Colleges of Chicago Board of Trustees passed a resolution in January holding itself accountable for student success and, in February, created a similar resolution for all CCC staff.  As a result, the Board changed the job description for CCC presidents to include accountability for the student success goals and launched a national search for candidates.   An advisory committee composed of faculty, staff, students, and the community, participated in the selection process and recommended a final candidate to Board Chairman Cabrera and Chancellor Hyman.

Dr. Ester will begin work in early December, joining the system’s six Presidents: Daley College: Dr. Jose Aybar; Malcolm X College: Dr. Anthony Munroe; Olive-Harvey College: Dr. Craig T. Follins; Truman College: Dr. Reagan Romali; Wright College: Jim Palos and Harold Washington College: Donald J. Laackman.

Dr. Ester will hold a formal introduction to faculty, staff, students and the community in the coming weeks.

About City Colleges

The City Colleges of Chicago (CCC), District 508, is the largest community college system in Illinois and one of the largest in the nation, with 5,800 faculty and staff serving 120,000 students at seven campuses and thirteen satellite sites city-wide.  The City Colleges of Chicago is in the midst of a Reinvention, a collaborative effort to review and revise CCC programs and practices to ensure students leave CCC college-ready, career-ready and prepared to pursue their life’s goals.

CCC includes seven colleges: Richard J. Daley College, Kennedy-King College, Malcolm X College, Olive-Harvey College, Harry S Truman College, Harold Washington College and Wilbur Wright College.  The system also oversees: The Washburne Trade School, the French Pastry School, two restaurants, five Child Development Centers, the Center for Distance Learning, the Workforce Institute, the public broadcast station WYCC-TV Channel 20 and radio station WKKC, 89.3 FM.  

For more information about City Colleges of Chicago, dial: (773) COLLEGE, or visit www.reinventingccc.org.

SOURCE City Colleges of Chicago

http://www.ccc.edu

City Colleges of Chicago Announces New President of Kennedy-King College | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, Nov. 1, 2011 /CHICAGOPRESSRELEASE.COM/ — CBOE Holdings, Inc. (NASDAQ: CBOE) today reported that October trading volume for options on the Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), the company’s all-electronic market, combined, totaled 105.2 million contracts.  Average daily volume (ADV) was 5.0 million contracts, an increase of 16 percent from October 2010 ADV of 4.3 million contracts per day.  

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CBOE Trading Volume and Market Share

CBOE Trading Volume:

• CBOE’s October 2011 ADV of 4.7 million contracts was a nine-percent increase from 4.3 million contracts per day in October 2010 and even with September 2011 ADV.
• CBOE index options – October 2011 index option ADV was 1.4 million contracts, up 35 percent from just over one million contracts ADV in October 2010 and down two percent from September 2011 ADV of 1.4 million contracts.
• CBOE ETF options – October 2011 ETF option ADV was 1.5 million contracts, up 49 percent from just over one million contracts ADV in October 2010 and down eight percent from September 2011 ADV of 1.6 million contracts.
• CBOE equity options – October 2011 equity option ADV was 1.8 million contracts, down 20 percent from 2.3 million contracts ADV in October 2010 and up 10 percent from September 2011 ADV of 1.7 million contracts.
• The five most actively traded index and ETF options at CBOE during October were the S&P 500 Index (SPX), Standard & Poor’s Depositary Receipts (SPY), CBOE Volatility Index (VIX), iShares Trust-Russell 2000 Index Fund (IWM) and QQQ Trust (QQQ).
• The five most actively traded equity options at CBOE during October were Apple (AAPL), Bank of America (BAC), Citigroup, Inc. (C), Microsoft Corporation (MSFT) and JP Morgan Chase & Co. (JPM).  

CBOE Trading Volume						Year-To-Date
(trades in thousands)	Oct-11	Oct-10	%  Chg	Sep-11	% pt. Chg	Oct-11	Oct-10	%  Chg
Trading Days	21	21		21		210	209
Total Exchange	99,532.7	90,943.1	9%	99,446.7	0.1%	997,385.5	939,047.8	6%
Total Exchange ADV	4,739.7	4,330.6	9%	4,735.6	0.1%	4,749.5	4,493.1	6%
Equity Options	38,681.4	48,058.9	-20%	35,019.9	10.5%	434,218.0	476,209.4	-9%
Equity Options ADV	1,842.0	2,288.5	-20%	1,667.6	10.5%	2,067.7	2,278.5	-9%
Index Options	29,298.8	21,720.6	35%	29,985.4	-2.3%	273,963.4	228,710.5	20%
Index Options ADV	1,395.2	1,034.3	35%	1,427.9	-2.3%	1,304.6	1,094.3	19%
ETF Options	31,552.6	21,163.5	49%	34,441.3	-8.4%	289,204.0	234,125.5	24%
ETF Options ADV	1,502.5	1,007.8	49%	1,640.1	-8.4%	1,377.2	1,120.2	23%

Expanded October volume information for CBOE index and ETF options is available at: www.cboe.com/data/monthlyvolume.aspx.

CBOE Market Share:

CBOE’s market share of total U.S. options industry volume in October was 25.5 percent, up 0.1 of a percentage point from September 2011 and down 1.1 percentage points from October 2010. If the volume from dividend trades was excluded from CBOE’s data for October 2011, the Exchange’s total market share for October would increase to 25.7 percent from 25.5 percent, an increase of 0.2 of a market share point. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in the options business.

CBOE October 2011 Market Share by Product:

• Index options – CBOE’s market share was 95.0 percent, down 0.7 of a percentage point from September 2011 and down 0.2 of a percentage point from October 2010.
• ETF options – CBOE’s market share was 19.3 percent, up 0.2 of a percentage point from September 2011 and down 1.5 percentage points from October 2010.
• Equity options – CBOE’s market share was 19.6 percent, up 0.1 of a percentage point from September 2011 and down 2.5 percentage points from October 2010.  

C2 Options Exchange Trading Volume and Market Share

C2 Trading Volume:

In October 2011, C2 ADV was 268,006 contracts, up 17 percent from September 2011 ADV of 228,595 contracts.  

ADV for equity options and ETF options in October was up 49 percent and one percent, respectively, from September 2011 ADV.

Trading in SPXpm – the all-electronic S&P 500 Index options contract launched on C2 on October 4 – averaged 5,014 contracts per day in October.

C2 Market Share:  

C2′s market share of total U.S. options industry volume in October 2011 was 1.4 percent, 0.2 of a percentage point ahead of September 2011 market share.

CBOE Futures Exchange Trading

• Just less than 900,000 contracts changed hands at the CBOE Futures Exchange (CFE) in October, an increase of 88 percent from 479,304 contracts traded a year earlier.  October ADV was 42,814 contracts versus 22,824 contracts in October 2010.  
• October CBOE Volatility Index (VIX) futures ADV was 42,760 contracts, and total volume was 897,966 contracts, both up 88 percent from year-earlier levels of 22,777 contracts per day and 478,326 contracts traded, respectively.  

CBOE Holdings Average Transaction Fee Per Contract

The company will report its average transaction fee per contract for the three months ended September 30, 2011, in conjunction with its quarterly earnings news release, which will be issued on Thursday, November 3, 2011, at the market close.  This information also will be posted to the Investor Relations section of CBOE’s web site under Financial Information, Supplemental Information.

CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE) and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE’s Hybrid Trading System incorporates electronic and open-outcry trading and is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the C2 Options Exchange (C2), CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named “Best of the Web” for options information and education.

CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC

CBOE-V    

CBOE-2    

CBOE-EF    

CBOE®, Chicago Board Options Exchange®, CBSX®, CBOE Stock Exchange®, CFE®, CBOEdirect®, FLEX®, Hybrid®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWrite(SM), BXM(SM), CBOE Futures Exchange(SM), and The Options Institute(SM) are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE). SPXpm(SM), C2(SM), and C2 Options Exchange(SM) are servicemarks of C2 Options Exchange, Incorporated. Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC., and have been licensed for use by CBOE. All other trademarks and servicemarks are the property of their respective owners.

SOURCE CBOE Holdings, Inc.

http://www.cboe.com

CBOE Holdings Reports October 2011 Trading Volume | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

Springfield—Illinois community colleges continue to experience high enrollments for the fall 2011 semester, according a report released today by the Illinois Community College Board (ICCB).

Both headcount and full-time equivalent (FTE) enrollments were at their third highest level in more than 25 years, registering nearly 372,000 students statewide and well above the average fall enrollment over the past five years. FTE figures reflect the total number of credit hours being taken by students divided by 15, which is the number of semester hours traditionally considered a full-time class load.

“The numbers do not surprise us,” said Geoffrey Obrzut, president and chief executive officer of the ICCB. “We hear constantly how our colleges are working to accommodate the demand for coursework and classroom space.”

These latest figures, combined with the recent record number of degree and certificate completions reported by the ICCB in its annual Enrollments and Completions Report, show that Illinois community colleges are not only attracting more students but also retaining them through the conclusion of the students’ programs, according to Obrzut.

“These enrollment figures continue to demonstrate that people in Illinois recognize the value and importance of the coursework and programs offered by community colleges across the state,” said Alexi Giannoulias, chairman of the ICCB.

The full report is available on the ICCB’s website: www.iccb.org.

The ICCB is the state coordinating board for community colleges. Illinois is home to 48 community colleges in 39 districts and has the third largest community college system enrollment in the nation.
 

Demand For What Illinois Community Colleges Offer Remains High | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

SPRINGFIELD – October 20, 2011. Governor Pat Quinn announced today that Illinois submitted an application to the federal “Race to the Top Early Learning Challenge Fund,” which is worth $70 million in early childhood education funding and would significantly improve the coordination and quality of early childhood services in Illinois. The application was submitted to the federal Department of Education as part of the $500 million dollar competition. As a large state, Illinois would be eligible for up to a $70 million award.

Illinois’ comprehensive application aims to build on Governor Pat Quinn’s strong emphasis on early childhood education by developing a more unified approach to supporting young children and their families. The funds would help ensure that Illinois children enter kindergarten with the necessary skills and knowledge for success.

“The best long-term economic plan Illinois can have is a solid education system that prepares our children for a 21st century workforce,” Governor Quinn said. “This proposal gives our state an opportunity to increase access to quality early learning and development programs and to help serve many more children from low income families in high quality programs.”

The collaborative multi-agency grant requests funds to expand and intensify initiatives the Illinois State Board of Education, the Department of Human Services and the Department of Children and Family Services currently fund in communities of high need. Home visiting, child screening and assessment, and family support services would be enhanced based on the latest best practice to positively impact the development of children early in life. The U.S. Department of Education will announce awards later this year for states that are leading the way with ambitious, achievable plans for implementing coherent, compelling, and comprehensive early learning education reform.

The Illinois State Board of Education has proposed new Early Childhood rules that would require any school district that offers kindergarten- half or full day- to administer the Kindergarten Individual Development Survey, or KIDS, starting in the 2014-15 school year.

KIDS will provide comprehensive information about children’s developmental competencies over time and inform whether Illinois’ kindergarteners have the necessary skills and knowledge to succeed in school. Additionally, ISBE proposes to share information about its preschool programs in a rating system already used for childcare programs registered through the Illinois Department of Human Services. The Board will review public comment and make a final decision on these proposals next spring.

“Investing in early childhood programs and collaborating with other state agencies to benefit young children is one of the most cost-effective strategies for improving education and our economy,’’ said State Board of Education Chairman Gery Chico. “I’m confident that Illinois’ history as a state with strong early childhood programming makes us a perfect candidate to earn this grant and develop practices that can be used in Illinois and replicated around the nation.”

IDHS currently administers the voluntary Quality Counts Quality Rating System for child care centers and homes operating full day. The Governor’s office and state agencies listed above will work together over the next four years to dramatically expand the rating system to include part and full day, school and center-based early learning and development programs and all licensed child care. Part day programs will include Illinois’ Preschool for All programs and federally funded Head Start programs. The expanded 5 Star system will have state facility requirements and quality criteria that must be met for programs to be at a Star Level.

If Illinois is successful in receiving the grant, funds will support extensive professional development resources and coaching opportunities for early learning and development program providers to aid them in achieving higher Star levels.

Illinois’ “Early Learning Challenge Fund” application is designed to provide consistency and ensure improvement in the quality of programs offered through state funds by focusing on educational and developmental components, family support and staff competency. Through greater inter-agency collaboration, Illinois aims to offer a coordinated system of high-quality early learning and development services available, particularly for children and families considered to be at risk.

For more information about the Illinois Early Learning Council and to view Illinois’ application, visit www2.illinois.gov/earlychildhood/Pages/EarlyLearningChallenge.aspx

Illinois Enters Race to the Top Competition for New $70 Million Grant – Funding Would Boost Early Childhood Services Statewide and Ensure Better Coordination and Excellence | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

By Benjamin Yount | Illinois Statehouse News

CHICAGO — Gov. Pat Quinn says “complainers” about the Illinois economy need to look past the state’s recent income tax increases, and look instead at the positive news about the state’s jobs picture.

Quinn on Wednesday touted his work in jump starting the state’s economy, by announcing a federal program that will make tens of millions of dollars of investment capital available. The governor spoke during a stop on Chicago’s southwest side to battery manufacturer AllCell, which is receiving some of that federal assistance.

“The reason, I think, why we’re a strong state is our work ethic and our hardworking, well-qualified, well-skilled men and women in our workforce,” said Quinn. “They are the heart and soul of the Illinois  economy.”

Quinn’s comments are his first public statements in 20 days. The governor returned last week from a weeklong trip to China and Japan. There he signed agreements that will send Illinois soybeans to China, and help a Chinese company take a more active role in building a wind farm near Dixon.

But while Quinn was overseas, one of Chicago’s most well-known companies, the CME Group, made headlines when it announced plans to leave the state.

“Our tax situation is untenable,” said Donohue. “I don’t think CME Group is different from other companies” that relocate.

In January, Illinois raised its corporate tax rate by 45 percent, from 4.8 percent to 7 percent, and its personal income tax rate by 67 percent, from 3 percent to 5 percent.

“We’re interested in working with them,” the governor said. “Anything they’re interested in would require some action by the Legislature. That could happen in the veto session or sometime early next year,”

Quinn then blasted anyone who suggested that Illinois’ increased income taxes are driving jobs out of the state.

“For those who are … complainers, naysayers, I’d say look at the record,” Quinn said. “Last year, our state lead the Midwest in job creation. I hope we do it again.”

The governor made his comments in the delivery bay of AllCell, which manufacturers batteries that will be power scooters and electric cars worldwide.

“As a start-up company, for us the first thing we need to get is profits,” said All-Hallaj. “If we are profitable, taxes are one thing we can always look at. But the fact that the people we hire are happy here …it goes a long way.”

Al-Hallaj said taxes are important, but they are not “everything in the equation.”

If Al-Hallaj is not worried about his taxes, Illinois House GOP Tom Cross said plenty of companies are concerned.

“We’ve lost 100,00 jobs in the last two months. Clearly (Quinn’s) analysis based on the numbers is off. Way off,” Cross said.

Cross said he’d rather see Illinois move to a broader policy “of a decent regulatory system and more fair taxes”

“There is a mindset among business, and I spent the summer talking with business leaders, of no longer just chit chatting about  of leaving,” Cross said. “They are going to leave.”

Originally reported by Illinois Statehouse News. Read the original article here.

Quinn: Illinois economy not as bad as ‘complainers’ say | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, Sept. 28, 2011 /CHICAGOPRESSRELEASE.COM/ — CBOE Holdings, Inc. (NASDAQ: CBOE) today announced it will offer a live webcast of its 2011 Investor Day Conference on Wednesday, October 5, 2011, from 9:00 a.m. to 2:30 p.m. (Chicago time).

(Logo: http://photos.CHICAGOPRESSRELEASE.COM.com/prnh/20100614/CG20953LOGO)

The conference will feature CBOE Holdings Chairman and CEO William J. Brodsky, Executive Vice Chairman Edward T. Tilly and other members of the senior management team, who will provide an overview of the company’s vision and strategic initiatives.  

The webcast will be available on CBOE’s website at http://ir.cboe.com under Events & Presentations.  An archived version of the presentation will be available within two hours of the conclusion of the event from the same location.

CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE’s Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method. CBOE’s Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports C2 Options Exchange (C2), the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named “Best of the Web” for options information and education. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

CBOE-C

CBOE®, Chicago Board Options Exchange®, CBSX®,  CBOE Stock Exchange®,  CFE®,  CBOEdirect®,  FLEX®,  Hybrid®,   LEAPS®,  CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, SPXSM, CBOE Futures ExchangeSM and The Options Institute are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE).  C2SM, and C2 Options ExchangeSM  are servicemarks of C2 Options Exchange, Incorporated. Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC and have been licensed for use by CBOE.  

SOURCE CBOE Holdings, Inc.

http://www.cboe.com

CBOE Holdings, Inc. Announces Live Webcast of 2011 Investor Day Conference on October 5 | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, Sept. 7, 2011 /CHICAGOPRESSRELEASE.COM/ — CBOE Holdings, Inc. (Nasdaq: CBOE) today announced that Edward T. Tilly, Executive Vice Chairman, will present at the Barclays Capital Global Financial Services Conference in New York City on Wednesday, September 14, 2011, at 9:00 a.m. Eastern time.

(Logo: http://photos.CHICAGOPRESSRELEASE.COM.com/prnh/20100614/CG20953LOGO)

The presentation, to be broadcast live over the Internet, can be accessed at www.cboe.com under Investor Relations, Events and Presentations.  Approximately 24 hours after the live presentation, an audio Webcast will be available for replay at the same address.

CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE’s Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method. CBOE’s Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports C2 Options Exchange (C2), the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named “Best of the Web” for options information and education. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

CBOE-C

CBOE®,  Chicago Board Options Exchange®,  CBSX®,  CBOE Stock Exchange®,  CFE®,  CBOEdirect®,  FLEX®,  Hybrid®,   LEAPS®,  CBOE Volatility Index® and VIX® are registered trademarks, and BuyWrite(SM), BXM(SM), SPX(SM), C2(SM), C2 Options Exchange(SM), CBOE Futures Exchange(SM) and The Options Institute are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE).  Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC and have been licensed for use by CBOE.  

SOURCE CBOE Holdings, Inc.

http://www.cboe.com

CBOE Holdings, Inc. to Present at Barclays Capital Global Financial Services Conference on Wednesday, September 14 | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

By Andrew Thomason | Illinois Statehouse News

SPRINGFIELD — It will be more than a year until Illinois’ new legislative districts are tested during the 2012 General Election, but for Illinois House District 106 in east-central Illinois, the campaigning has begun.

Usually, if a legislator retires early, the political machinery nominates a new person to take his place, giving him name recognition and a few votes on legislation to use as campaign fodder.

Brian Gabor, Josh Harms, Scott McCoy and Tom Bennett are competing in the Republican primary. Whoever wins that election in March is expected to win the General Election on Nov. 8, 2012.  

The four campaigns are in full swing, even though petitions for their candidacy don’t need to be filed with the Illinois State Board of Elections until Dec. 5.

“Rightly or wrongly, since there is no incumbent, I think the people think we need to get out sooner, rather than later, to get (our) message out and (our) name out,” said Gabor, a partner at the Satter, Beyer, Bertram, and Gabor law firm in Pontiac.

Aside from the tightened election cycle of the primary, the size of the district dictates that Gabor, Harms, McCoy and Bennett had to start early.

The four GOP candidates said they have been canvassing in search of exposure and votes. McCoy and Gabor live in Pontiac on the western half of the district; Bennett lives more centrally in Gibson City; and Harms lives in the eastern third of the district in Watseka.

McCoy is the former mayor of Pontiac, the largest city in the district.

“The biggest challenge, going from a tight-knit, small entity being the city of Pontiac, which is all you have to worry about, now to an entire district of five counties, is going to be communication,” McCoy said Wednesday while driving back from a campaign event near the Indiana border.

All the candidates said they identify to some extent with the small-government, budget-hawk views held by the tea party movement that was successful in the 2010 elections. The candidates’ shared message of fiscal conservatism in this largely rural, largely conservative district is expected to be welcomed.

“I don’t think you’re going to see a major difference in any of the candidates, if you’re looking simply at the stance of the Republican platform,” McCoy said.

Because they have similar political views,  their challenge will be distinguishing themselves from each other.

Candidates for the same position generally are characterized as being secretive, maybe even hostile toward each other. That simply isn’t the case in this specific election, said Harms.

“I talk to Brian, and I talk to Tom quite a bit. We do agree on a lot, and we do have a very open dialogue,” he said.

Each candidate, however, highlighted a certain aspect about their campaign or history, they say, will distinguish them from the pack.

Harms, who teaches at Watseka Community High School in Watseka, said his hook is excepting only donations from individuals for his campaign.

McCoy said his four years as mayor gives him a step up over the competition.

Gabor, who served as a Pontiac alderman for eight years while McCoy was mayor, emphasized his experience helping run his Pontiac law firm, which includes family and criminal law, from a business perspective. 

Bennett pointed to his experience as a member of the Parkland College Board of Trustees.

“I’ve been a trustee there 16 years, and I’ve (been) elected three times at-large across the district. The district of a community college is typically bigger than a state representative district,” said Bennett, a professional development manager for State Farm Insurance in Bloomington.

“The way the district is, it’s a lot of small towns. There’s no easy way of getting to know people other than just driving in your car and stopping in the towns and introducing yourself,” Cultra said.

Cultra was elected to the General Assembly in 2002 after another round of redistricting saw an incumbent in the district Cultra was running in abandon the race in favor of higher office.

Originally reported by Illinois Statehouse News. Read the original article here.

Empty district creates crowded primary | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, July 29, 2011 /CHICAGOPRESSRELEASE.COM/ — The Chicago Board Options Exchange (CBOE) today began publishing values for the CBOE VIX Tail Hedge Index(SM) (ticker symbol: VXTH(SM)), the latest addition to a suite of CBOE strategy indexes designed to manage equity risk.

(Logo:  http://photos.CHICAGOPRESSRELEASE.COM.com/prnh/20100707/CBOELOGO-a)

VXTH, which tracks the performance of a hypothetical S&P 500 investment portfolio protected against tail risk by using VIX calls, provides investors with a benchmark for VIX-based “tail risk” hedge strategies. Tail risk is the risk of a sudden and steep drop in the S&P index.

“CBOE continues to leverage its research and development expertise to further develop the volatility frontier,” CBOE Chairman and CEO William J. Brodsky said. “The CBOE VIX Tail Hedge Index was created by our research team in order to help investors control portfolio risk when unusual, high-impact events are on the horizon.  The index also can be used by CBOE and/or licensed to others to create tradable products aimed at hedging tail risk.”

The number of VIX calls hypothetically purchased each month as part of the CBOE VIX Tail Hedge Index strategy will depend on the level of forward volatility. If forward volatility is very low or very high – outside of the range of 15 to 50 – no VIX calls will be purchased when the VIX options expire and VXTH “rolls” to the next month. Purchasing the optimal number of VIX calls when VXTH rolls can reduce hedging costs and monetize VIX option profits when extreme volatility levels are reached.

VXTH is the second CBOE index created by CBOE in 2011 to help investors specifically cope with tail risk in the U.S. equity market.  In February, CBOE began publishing values for the CBOE S&P 500 Skew Index(SM) (ticker symbol: SKEW). While both the Skew Index and VXTH address tail risk, Skew is calculated from the price of S&P 500 out-of-the money put options and measures the cost of extreme negative moves in the U.S. equity market. VXTH is a strategy index that helps to manage portfolio risk using out-of-the-money call options overlaid on a hypothetical S&P500 stock portfolio.

For more information on the CBOE VIX Tail Hedge Index, see www.cboe.com/VXTH.

With the addition of the new CBOE VIX Tail Hedge Index, CBOE publishes data on 11 benchmark indexes designed to reflect the investment performance of an option-related strategy. Some of these include the CBOE S&P 500 BuyWrite Index (BXM), CBOE S&P 500 PutWrite Index (PUT), CBOE S&P 500 95-110 Collar Index (CLL) and CBOE VIX Premium Strategy Index (VPD).

CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE’s Hybrid Trading System incorporates electronic and open-outcry trading and is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the CBOE Futures Exchange (CFE), C2 Options Exchange (C2), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named “Best of the Web” for options information and education.

CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the AAA-rated OCC.

CBOE®, Chicago Board Options Exchange®, CBSX®, CBOE Stock Exchange®, CFE®, CBOEdirect®, FLEX®, Hybrid®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWrite, BXM, C2 Options Exchange, C2, CBOE Futures Exchange, CLL, PUT, PutWrite, SKEW, SPX, The Options Institute, VPD, and VXTH are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE). Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC and have been licensed for use by CBOE.

CBOE-OE

SOURCE Chicago Board Options Exchange

http://www.cboe.com

CBOE to Begin Publishing Values for CBOE VIX Tail Hedge Index | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

April 7, 2011

Originally reported by Illinois Statehouse News. Read the original article here.

Political fight over Quinn human rights pick | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

By Benjamin Yount   Illinois Statehouse News

SPRINGFIELD  —  Some of Illinois’ 868 school districts may come together before the start of the next school year. But it will not be because state school leaders have ordered them to consolidate.

Illinois State Superintendent Chris Koch said Thursday that Gov. Pat Quinn’s proposal to force school consolidation is all but dead.

“I doubt there is going to be anything that comes out this year that gives that kind of direction, that says you have to consolidate,” Koch said.

Koch said the Illinois State Board of Education has always had the power to step in and take over failing schools. He said that power also includes the ability to dissolve a local school district. Koch said the state board will continue to “focus on incentives” to consolidation. 

Few lawmakers supported Quinn’s proposal to require mergers. Even fewer local school officials supported it.

Morris Elementary School District 54 Superintendent Terri Shaw said folks in Morris have never liked the idea of school consolidation, and liked the idea of a state mandate even less.

“We’ve looked at (consolidation) in the past, but local school boards have always said no,” said Shaw.

Morris is a town of 12,000 residents, and Shaw’s district is one of four in the community. She is responsible for about 500 students, with the smallest of the local schools enrolling a little more than 100 students. But Shaw said parents don’t want to merge the schools, so Morris will likely continue with four separate districts.

“Who is paying the bills? Local taxpayers are paying the bills at local school districts,” said Shaw “Those are the people with a vested interest in the schools. And they don’t want change.”

State Rep Pam Roth, R-Morris, said local parents know the most about their local schools.

“If (school consolidation) makes sense in a community and a community is supportive of it, it needs to be a community decision. I don’t think as a General Assembly we should be making and mandating school consolidation,” Roth said.

About 108 miles to the west in Colona, Superintendent Kyle Ganson said he doubts parents in his Quad Cities area district will ever merge the five elementary school districts that feed United Township High School.

“There are a lot of local issues, nuances really, that would have to be worked out,” Ganson said, “if the local districts were to come together.”

Ganson said each of the five local elementary districts have different costs, different debt loads and different needs. There would have to be sweeping agreements before consolidation could ever move forward.

Quad Cities area State Rep. Rich Morthland, R-Moline, said if school mergers make sense, it may be worth while for the state to look at consolidations.

“There may be savings,” said Morthland “But you also have to ask, at what cost?”

Ganson said Illinois owes schools across the state billions of dollars, and does not appear to have a plan to pay those debts. He said he doubts the state can make consolidation work.

“I’ve been doing this for 28 years. And each year I lose confidence in the government, both in Springfield and Washington, that they know what is best for education,” said Ganson.

Quinn first proposed the idea of required consolidation during his budget speech in February. Quinn said Illinois has too many school districts, and too many highly paid superintendents.

Koch said the idea of forced consolidation caught him by surprise as well.

“We had not done any analysis around that,” he said.  “It was not something that we had input into or crafting the numbers for.“

Originally reported by Illinois Statehouse News. Read the original article here.

Iliniois school chief: Forced consolidation won’t happen this year | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

By Benjamin Yount  Illinois Statehouse News

SPRINGFIELD — Illinois lawmakers are telling local community colleges not to expect any new money from the state next year.

And, lawmaker are not saying when, or if, they’re going to pay community colleges what the state already owes.

Community college officials learned of the proposed flat budget Wednesday. The Illinois House is beginning the process of crafting a fiscal year 2012 spending plan. One of the first steps is to figure out how much the state has to spend, and then lawmakers must decide how that will be spent.

Ellen Andres, chief financial officer for the Illinois Community College Board, said she’s working on a budget close to $400 million. She said a flat budget won’t help, and any cuts will definitely hurt.

“We have increased class size. We have renegotiated with unions. We have done everything we can at this point. We don’t want to cut enrollments or turn people away,” she said. 

Andres said the state is supposed to cover 33 percent of a community colleges’ costs. Students and local tax payers are supposed to make up the rest. But as the state has fallen behind in payments. Its share of community college funding has dipped to almost 20 percent.

State Rep. Brandon Phelps, D-Harrisburg, said community college is supposed to be a less expensive alternative to four year universities.

“The bigger universities have almost priced themselves out,” Phelps said. “And people are turning to community colleges. … I think we have some of the best community colleges in the state in southern Illinois.  … You’re going to have to go to the students to get more in tuition,” he said.

Numbers from the community college board show that’s already happening.  Andres said the average community college tuition has jumped from $1,700 in 2002 to $3,300 in 2010.  Enrollments also is up. Andres said that more than 60 percent of students taking courses at a post-secondary school are enrolled in a community college. But the local schools only get 14 percent of the state’s higher education dollars.

“Basically what’s happening is that students are paying the extra tuition to make up for what we don’t have,” said Andres.

That’s just enough for some schools. Officials at Rend Lake Community College, in Phelps’ district, said the school can get by with a flat budget.  But President Charley Holstein said the school only can  just get by.

“Flat funding will make it difficult for RLC to grow new programs or expand on past successes, but we will weather the situation,” he said. “We have not had to lay off any employees, and we will continue to operate under the funding levels we receive.”

It’s the same at John Wood Community College in Quincy. College President Tom Klincar said he’d be happy if the state just sent him a flat budget, on the condition that lawmakers also pay the college what the state owes.

“I’m not nearly as worried about a flat budget next year as I am the lack of funding for student aid and federal student aid cuts,” he said.

State Rep. Jill Tracy, R-Quincy, said John Wood got the message that funding would be tight and cut where it could.

John Wood “understands (their funding) is not going to be increased, because the state doesn’t have it at this point  So they’re willing to do their part,” she said.

State Sen. Dave Syverson, R-Rockford, said it’s a shame that community colleges have to do without, especially since more people are turning to the traditionally two-year schools.

“We’re talking about thousands of individuals that are getting low cost education and training,” he said.

But Republicans like Syverson are calling for billions in cuts from the state budget, but he said the cuts need to be targeted at priorities.

Nancy Chamberlain, a spokeswoman for Rock Valley College in Rockford, said she hopes community colleges would be a priority.

“At a time when community colleges are serving more students and having the most profound effect on the viability of our communities, we are being asked to do more with less,” she said.

While more budget hearings are planned by the House and Senate, a final 2012 spending plan is due to Gov. Pat Quinn by the end of May.

Originally reported by Illinois Statehouse News. Read the original article here.

Community college cash crunch expected to continue | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

By Diane S.W. Lee   Illinois Statehouse News

SPRINGFIELD — Elementary and high schools across the state have dealt with thin budgets in past years, and school budgets might get even thinner next year. 

The latest projection from Springfield is that schools can expect at least $600 million less than last year.

Top Illinois House leaders on Wednesday began hashing out details for kindergarten through high school funding for the state’s fiscal year 2012 budget. Lawmakers said they hope to knock out a budget earlier than usual so schools can plan ahead rather than deal with the uncertainty of waiting.  

House Speaker Michael Madigan, D-Chicago, said lawmakers are going to have to make it clear to schools that there will simply be less money next year. 

“Now we’re going to have to pick and choose. Some of these items will be funded. Maybe they will get less funding. Some of these items won’t be funded at all,” Madigan said. “That is the process that we will engage in.”

In the current budget, elementary and high schools received $7 billion from the state. Schools also receive approximately $3 billion from other state and federal funds each year, according to figures from the governor’s office.

“I think that certainly, we would like to see a budget passed sooner than rather later,” said Illinois State Board of Education‘s spokeswoman Mary Fergus. “Because that gives districts more time to set their budget for the coming school year.”

But state Rep. Will Davis, D-Homewood, said there will be $200 million fewer state dollars, and nearly $400 million fewer federal dollars this year. Davis, who will craft the education budget in the House, said he’s been told he can spend no more than $6.8 billion.

That figure is only one of many numbers complicating this year’s budget. Gov. Pat Quinn said he wants to spend $35.4 billion next year. But Davis, and the rest of the House, have set a hard cap at $33.2 billion. 

House Republican Leader Tom Cross, R-Oswego, said Illinois will only take in $33.2 billion, so that is all the state will spend.

“The speaker and I have been working on from the outset, the concept of realizing and figuring out how much money we have to spend,” Cross said, “with (the) understanding that we will not spend more than that, something we’ve tried to advocate for a number years.”

Lawmakers have between now and the end of May to craft a final state budget, which will need approval from both chambers and the governor.

In previous years, the state has skipped or made partial payments to public pensions and even borrowed money to make payments. The 868 school districts statewide are having to deal with almost $450 million in less funding in the past two years, according to the ISBE’s website.

State Rep. Roger Eddy, R-Hutsonville, said school districts have expressed frustration during the past several years about state finances. As superintendent of Hutsonville Schools, Eddy said school districts either get late payments from the state or nothing at all.

“They are concerned,” Eddy said. “But this approach is to say: ‘Here is what we really believe there is. Even if it is less, and we have to tell you that it is going to be less, these dollars are there.’”

Although school districts have received less money and delayed payments from the state, ISBE is still advocating for more education funding. The agency recommends $7.6 billion in state funding for fiscal year 2012 budget, more than 5 percent more than the governor’s proposed $7.2 billion.

Originally reported by Illinois Statehouse News. Read the original article here.

House lawmakers plan less funding for elementary and high schools | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

CHICAGO, March 18, 2011 /CHICAGOPRESSRELEASE.COM/ — The National Court Appointed Special Advocate (CASA) Association will host its 30th annual conference, “Building Hope for Youth,” from March 19-22, 2011, at the Hyatt Regency in Chicago. Commissioner Mary Ellen Caron, Ph.D., for the Chicago Department of Family and Support Services, will provide an official welcome to the attendees. Famous country recording artist and foster care advocate Jimmy Wayne will give the keynote address.

Each year, more than 1,500 CASA staff, board members, volunteers, judges, attorneys and other child welfare professionals from across the country gather to connect with peers and learn from leaders in the field. Conference attendees learn from top-notch faculty leading more than 60 workshops and institutes, attend inspiring general session panels, network with like-minded volunteers and professionals, and take advantage of an exhibit hall filled with useful resources.

“For many abused and neglected children, their CASA volunteer will be the one constant adult presence in their lives,” said Commissioner Caron.  “The resources and training offered at this year’s conference will provide the tools necessary to help foster the personal development and provide the much-needed positive influence every young person needs to stay on track.”

The conference aims to strengthen volunteer voices by enabling them to build skills and acquire tools that will enhance their ability to advocate on behalf of abused and neglected children. It also helps conference attendees explore practices that enable them to better serve all children in their communities and continue the journey towards cultural competency. Those who attend also develop essential leadership skills and fortify their commitment by engaging with peers and presenters.

“We are thrilled and honored to have both Jimmy Wayne and Commissioner Caron joining CASA for our annual conference in Chicago this year,” said Michael Piraino, CEO of the National CASA Association. “We greatly appreciate their tireless efforts to give a voice to and help the children in our foster care system. Their work is an inspiration to all of us.”

As an alum of the foster care system, country music artist Jimmy Wayne gives tirelessly of his time to support older youth in the child welfare system. He spent seven months of 2010 on the road to raise awareness for homeless youth and children in care. Wayne walked more than 1,700 miles from Nashville to Phoenix, talking with supporters, the media and lawmakers along the way. His “Meet Me Halfway” campaign was profiled on television, in newspapers and magazines nationwide, including USA Today, Ladies Home Journal, and People magazine.

For more information about the conference, please contact Tim Smith at Tim.Smith@Edelman.com, or visit http://www.casaforchildren.org to view the conference program.

About National CASA

In 1977 a Seattle judge, concerned over making decisions about abused and neglected children’s lives without sufficient information, conceived the idea of using trained community volunteers to speak for their safety and wellbeing, and to help them find safe and permanent homes where they can thrive. So successful was this program, that judges across the country began utilizing citizen advocates. Today, almost 1,000 CASA/GAL offices operate in 49 states, with nearly 70,000 men and women serving as CASA/GAL volunteers.

For additional information about becoming a CASA volunteer, call toll free (800) 628-3233 or visit www.casaforchildren.org. CASA volunteers must be at least 21 years of age and successfully pass a background check; participate in an in-depth 30-hour volunteer training class; have good oral and written communication skills in order to provide objective recommendations to the court; and upon receipt of their first case, willingly commit to see the case closed, which typically takes a year and a half.

About Mary Ellen Caron

Mary Ellen Caron, Ph.D., was named commissioner of the new Chicago Department of Family and Support Services (DFSS) in January of 2009 by Mayor Richard M. Daley. The Chicago Department of Family and Support Services is a consolidation of several of the City’s former human service departments and works to provide a continuum of support for Chicago’s vulnerable residents, beginning at birth through the senior years. The department provides both direct and indirect services through a staff of about 1,000, 350 delegate agencies, 18 senior centers, and six community service centers.

From 2004 through 2008, Caron served as commissioner of the Chicago Department of Children and Youth Services, now part of DFSS, which provided community-based services that promoted the well-being and successful development of Chicago’s youngest residents, while strengthening families and their communities.

Previously, Caron was a special assistant to the chief executive officer, Arne Duncan, of the Chicago Board of Education.

About Jimmy Wayne

On January 1, 2010, singer Jimmy Wayne began a 1700 mile cross country journey to raise awareness of the plight of foster children who aged out of the system at 18 years old.  Equipped with no support system, an oftentimes lackluster education and no money, these young people often find themselves homeless.  Jimmy was himself a foster child and can relate to these experiences first hand. In December 2009, Wayne was coming off of one of the most successful couple of years of his musical career– he had charted a three week #1 record, and just wrapped a tour with Brad Paisley, which had placed him in some of the country’s biggest and most prestigious venues, including Madison Square Garden.  

But even with all of that professional success, Wayne felt there was something missing.  He determined that he had been so busy he hadn’t been able to spend the time giving back as he typically did. Through the years, Wayne had performed at a number of benefits to raise money for organizations that assisted foster children.  But as he saw it, nothing had really changed over the years, despite the best intentions of those trying to help, especially with the aging out dilemma. So he decided he needed to do something on a grand scale, to highlight the problem and get people talking.  He developed his Meet Me Halfway campaign, and began walking from Nashville TN to Phoenix AZ, all the while talking about the reasons why with the people he met along the way, the media and even lawmakers.

Wayne spent a total of seven months of 2010 on the road, and his efforts on behalf of foster children seem to be paying off. California recently passed AB 12, which raised the age from 18 to 21 for children to be in foster care. Wayne had taken time from the walk to speak to the California lawmakers about his own experiences as a foster child who was homeless for a time, He was featured on the CBS Television special A Home For The Holidays in December 2010, telling his story.  Howard Books will publish Wayne’s first novella this year, titled Paper Angels and inspired by his childhood. It is set to come out in November. Wayne is currently writing new songs based on his experiences of walking across America.

SOURCE CASA

http://www.casaforchildren.org

National CASA Hosts 30th Annual Conference in Chicago | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.

By Andrew Thomason   Illinois Statehouse News

Two different budget plans have emerged for elementary and secondary education in the state — one from the Illinois State Board of Education, the other from Quinn’s office. Both say they want more funding for education, but have different areas they focus on in their budget proposals.

Representatives from both camps came before a state Senate appropriations committee late Wednesday to present their ideas.

Koch said it would be nearly impossible.

Koch responded that while consolidation is needed, what isn’t needed is a cookie-cutter approach, where all schools get handled the same. Instead, consolidation needs to be handled on a case-by-case basis.

In both budgets, the amount of money schools receive per student annually would increase, though Quinn’s increase is less than what the Board of Education wants.

The State Board of Education wanted annual spending per student at $6,416, but the governor’s plan has that figure at $6,267. Koch said any increase is welcomed after two years without, but it wouldn’t do any good if students couldn’t get to school.

Originally reported by Illinois Statehouse News. Read the original article here.

Board of Education, gov’s office clash over funding | Chicago Press Release Services - Chicago's leading press release newswire service; professional press release services, press release distribution and newswire services.