July 19, 2018

Illinois Politics

The CPA Exam Gets Dragged Into One Illinois House Race

Normally, we obviously wouldn't care about some stupid state race but this election season, one wanna-be House representative in Illinois is trying to lay the smack down on his funeral director opponent in the 46th District GOP primary using his accounting education and the CPA exam as his weapon. Daniel J. Kordik is a 52-year-old […]

Former KPMG Partner Wants a Job That Is Worse Than Being a KPMG Partner

I kid, I kid. There are plenty of KPMG partners who couldn’t be happier if they were PwC partners. ANYWAY, that’s beside the point. What is the point is that former House of Klynveld partner Leslie Coolidge is running for U.S. Congress in Illinois’ Sixth District. Why would a seemingly normal person CPA opt for a career in the dungeon asylum hellhole that is the House of Representatives? Well, she has her reasons:

“Like many of us, I have become increasingly dismayed by the apparent unwillingness of our current Congress to address the critical issues facing our country today,” Coolidge, 52, said. “As I watched the brinksmanship this summer as Congress actually considered letting our country go into financial default, I knew I could no longer sit on the sidelines. As a CPA, I can delve into and understand complex financial matters and create innovative solutions that make sense. In addition, much of my career was spent negotiating among parties with divergent views to find ways to successfully move forward, something Congress is not doing.”

An agent of change! A uniter, not a divider! All that crap! How could it go wrong?

Coolidge announces candidacy for Congress [NS]

Illinois Legislature Considering a Slightly Less Huge Tax Increase

Last Friday, we were surprised to learn that those little anti-tax scamps over at Americans for Tax Reform have a sense of humor when they sarcastically gave the Illinois legislature credit for keeping the state’s proposed income tax increase below 80%.

Well, with today’s report that the IL pols have reconsidered their stance on that proposal, Grover Norquist and Co. are probably tickled pink:

The Illinois legislature moved a step closer Tuesday to passing its first tax-rate increase in nearly two decades to dig the state out of a $13 billion budget hole despite steep opposition from Republicans.

Tuesday afternoon, the House Revenue and Finance committee passed a scaled back version of a tax-increase proposal that was struck last week by leaders of the Democratically controlled legislature and Illinois Gov. Pat Quinn, also a Democrat.

Under the current version of the bill, the individual income-tax rate would jump to 5%, from the current 3%, a 67% increase. That is more conservative than last week’s proposed 5.25% rate, a 75% increase.

No reaction from ATR yet but we’re hoping for more GOP comedy relief.

Illinois House Panel Passes Tax Increase [WSJ]

Somehow Deloitte Gets Roped Into a Chicago Political Scandal

Rod Blagojevich.jpgBig D is probably just a pawn in the whole game but it serves as a nice example of how Illinois political tomfoolery touches just about anyone and everyone.
And Rod Blagojevich is just ridiculous and not relevant for this story but his picture seems to work here, so deal with it.
A criminal investigation into Cook County Board President Todd Stroger that started with questions surrounding the hiring, promotion, and firing of a busboy. Stroger then fired his own cousin, “the county’s chief financial officer amid questions about her dealings with [Tony] Cole.”
Cole is said busboy who must have made a move on Stroger’s cousin but enough speculation. The investigation has now grown wider as prosecutors have now subpoenaed Deloitte.
More, after the jump


Chicago Tribune:

Prosecutors have ordered Deloitte & Touche LLP, the county’s auditors, to turn over “certain documents” pertaining to the 2008 audit of county finances, according to a memo from County Board Finance Committee Chairman John Daley (D-Chicago), who also heads the Audit Committee. Deloitte personnel “may serve as witnesses to a current grand jury investigation,” according to an attached letter sent to Stroger from Deloitte’s Tracey Guidry.

It should be noted that John is the brother of Richard, the Mayor who was elected around the time when the Cubs last won the World Series.
The only word on the documents are that they were used in the ‘customary preparation’ of the audit, according to the Sun-Times.
Safe money is on at least one resignation/removal from office and a small fortune being discovered to have passed through various channels of the City Hall.
Todd Stroger: Probe expands into Cook County Board president’s hiring of ex-busboy [Chicago Tribune]