build condos next door to the Mayor's fave South Loop restaurant, the Chicago Firehouse........
Chicago Firehouse restaurant.
Posted on 06/28/2010 8:29:40 AM PDT by maggief
For the last three years, Mayor Daley's nephew Robert G. Vanecko has been a frequent figure in the news.
First, when the Chicago Sun-Times revealed that five city pension funds gave him $68 million to investment in risky real estate deals.
Later, when a federal grand jury began investigating.
Now, Vanecko's real estate deals are falling apart, records show, potentially jeopardizing the money he got from the pension funds representing Chicago's police officers, teachers, city employees and CTA workers.
And it turns out that other Daley family members were involved in one of those soured deals -- a plan to build condos next door to the mayor's favorite South Loop restaurant, the Chicago Firehouse.
(Excerpt) Read more at suntimes.com ...
Chicago Way ping!
Written and edited by English majors.
You know, those unions are really good investors.
Don’t you just LONG for the good old days when union pension funds were simply STOLEN by organized crime, declared bankrupt and union members were left holding the empty bag! Gee whiz...it’s so much more COMPLICATED today!!! Same result of course, but much more complicated.
Flashback for the thread: (Allison S. Davis was Obama’s ex boss and Rezko partner)
http://www.suntimes.com/news/metro/353797,CST-NWS-rezdavis23.article
(snip)
“When Barack Obama took a job at a small Chicago law firm in 1993, the first name on the door of the firm was Allison S. Davis.
Five years later, having left his Davis Miner Barnhill & Galland firm, Davis invested in Antoin “Tony’’ Rezko’s final government-subsidized, low-income housing project, state records show, in a deal handled by Davis’ former law firm.”
Kwame Kilpatrick + higher-up/better-connected national enablers + longer running syndicate = Mayor Daley.
http://www.suntimes.com/news/metro/353797,CST-NWS-rezdavis23.article
Obama ‘s ex-boss a Rezko partner - Lawyer consulted on final Rezmar redevelopment
Chicago Sun-Times (IL) - Monday, April 23, 2007
Author: Tim Novak, The Chicago Sun-Times
EXCERPT
While Davis was running the law firm, he was also a board member of the Woodlawn Preservation and Investment Corp., a not-for-profit company that hooked up with Rezko’s Rezmar Corp. on tax-supported projects to rehabilitate apartments for low-income tenants. Davis ‘ firm handled the legal work on those housing deals.
Davis has long been an influential member of the Woodlawn community just south of the University of Chicago. His father was the university’s first African-American professor. Since 1991, Davis has been a member of the Chicago Plan Commission, appointed by Mayor Daley, a friend.
Four years ago, Blagojevich appointed Davis to the Illinois State Board of Investment, which controls state pension funds — one of a series of appointments the governor made at Rezko’s request.
http://www.suntimes.com/news/watchdogs/672314,CST-NWS-watchdog29.article
Obama helped ex-boss get $1 mil. from charity - Senator’s spokesman: ‘Not a conflict to do what’s right’
Chicago Sun-Times (IL) - Thursday, November 29, 2007
//
(no link)
Double-Duty Davis - Rezko pal pushed pension deal — and months later, the pension firm hired him
Chicago Sun-Times (IL) - Thursday, June 26, 2008
Author: Chris Fusco, Dave Mckinney and Tim Novak, The Chicago Sun-Times
In July 2004, state pension board member Allison S. Davis voted to turn over as much as $100 million in state workers’ retirement cash to an investment management firm.
Months after it won the lucrative deal at Davis ‘ urging, that investment firm hired Davis .
RREEF America REIT II Inc. agreed to pay the Chicago developer $30,000 a year to take a part-time post on its board of directors, even as Davis continued to serve on the Illinois State Board of Investment.
There were questions about the legality of the dual roles. According to Illinois law, “No member of the board shall have any interest in any brokerage fee, commission or other profit or gain arising out of any investment made by the board.”
But the state board got a legal opinion that Davis could hold both posts as long as he didn’t vote on any future state deals for RREEF, a real estate investment trust.
It’s an unusual situation. Davis — who was appointed to the state pension board by Gov. Blagojevich at the behest of since-convicted gubernatorial adviser Tony Rezko — is the only member of the state’s two main pension boards to also serve as a paid board member of a firm that handles state employees’ retirement money.
(snip)
http://www.suntimes.com/news/politics/644511,CST-NWS-davis11.article
How reform-minded City Hall critic became a cozy insider - Foe of Daley I, now ally of Daley II — caught in glare of unwanted spotlight
Chicago Sun-Times (IL) - Sunday, November 11, 2007
Author: Tim Novak, The Chicago Sun-Times
As a young lawyer, Allison S. Davis was a City Hall outsider.
He criticized Mayor Richard J. Daley over the 1968 riots. He worked to integrate Chicago neighborhoods. And he fought to elect judges based on legal ability, not political connections.
Today, Davis is a consummate City Hall insider.
He’s a loyal ally of Mayor Richard M. Daley, who appointed Davis to Chicago’s prestigious Plan Commission. Davis has gotten deal after deal from the mayor, helping to make Davis one of the city’s top developers. And Davis has forged strong ties to the Daley family, doing deals with one of the mayor’s nephews and giving legal business to Daley & George, mayoral brother Michael Daley’s law firm.
Now, Davis finds himself in the glare of an unwanted spotlight.
One of his business partners, William Moorehead, recently began serving a four-year prison sentence for stealing more than $600,000 from at least 13 federally funded housing projects he managed — including two buildings that he and Davis co-own. During the period Moorehead has admitted he was stealing the money, the Chicago Sun-Times has learned, he lent Davis $100,000 — a loan that has drawn scrutiny from federal investigators, though Davis hasn’t been accused of any wrongdoing.
(snip)
http://www.suntimes.com/news/politics/570056,CST-NWS-vanecko23.article
Mayor’s Nephew Cashing In - Bob Vanecko wants to revive Chicago’s struggling neighborhoods with $68 million in city-linked pension funds. He has his eye on areas near his uncle’s proposed Olympic stadium.
Chicago Sun-Times (IL) - Sunday, September 23, 2007
Author: Tim Novak, The Chicago Sun-Times
A nephew of Mayor Daley stands to make millions of dollars from city-connected pension funds.
In winning business from pension funds for city workers, cops, teachers and CTA employees, Robert G. Vanecko said he never told anyone he’s Daley’s nephew.
But officials with those funds knew who he was, interviews and documents show.
Vanecko and his partner, Allison S. Davis , a top mayoral ally, also asked pension funds outside Chicago to invest with DV Urban Realty Partners, a company they formed two years ago. None did.
It’s a risky venture, Vanecko and Davis warned potential investors.
Still, the city-related pensions opened their checkbooks, giving DV Urban $68 million. They did so even as they face growing financial worries, according to a recent state study.
(snip)
http://www.suntimes.com/news/cityhall/1496799,CST-NWS-refuse26.article
Pension funds may not cooperate on subpoena
March 26, 2009
BY FRANK MAIN, FRAN SPIELMAN AND TIM NOVAK Staff Reporters
Trustees for at least two city pension funds are considering stonewalling Chicago’s inspector general over a subpoena for records involving their investments with a company co-owned by one of Mayor Daley’s nephews.
http://www.suntimes.com/news/metro/rezko/1407352,CST-NWS-davis01.stng
Insiders’ housing projects targeted - Subpoena probes deals by Obama ex-boss and Daley pal Davis , plus Rezko, Cellini
Chicago Sun-Times (IL) - Sunday, February 1, 2009
Author: Tim Novak, The Chicago Sun-Times
A federal grand jury has subpoenaed records on dozens of low-income housing projects built over the last 30 years by indicted businessman William F. Cellini, convicted political fund-raiser Tony Rezko and City Hall insider Allison S. Davis .
(snip)
Davis , 69, and Vanecko, 43, are partners in a start-up real investment company, DV Urban Realty Partners. Five city pension funds have invested $63 million with the Davis and Vanecko company.
THE OTHERS
A federal grand jury also has demanded that the Illinois Housing Development Authority turn over records on a dozen other people:
- Nicholas Hurtgen, a former investment banker awaiting trial on corruption charges.
- Brian Hynes, a lobbyist who once represented the state agency.
- Chris Kelly, a close friend and adviser of former Gov. Rod Blagojevich.
- Mark Kirincich, president of Commonwealth Realty Advisors, a company started by William Cellini.
- Robert Kjellander, a lobbyist, Republican Party heavyweight and close Cellini pal.
- Milan Petrovic, a lobbyist and Blagojevich buddy.
- Paul Rosenfeld, an IHDA lobbyist and Blagojevich insider.
- Marvin Traylor, a lobbyist and Cellini associate.
- John Wyma, a lobbyist and longtime Blagojevich associate.
- Kelly King Dibble, former IHDA executive director and relative of President Obama’s adviser Valerie Jarrett .
- Darren Collier, an ex-IHDA staffer.
- Michael Todd, an ex-IHDA staffer.
//
http://www.suntimes.com/news/metro/rezko/1407352,CST-NWS-davis01.stng
Insiders’ housing projects targeted - Subpoena probes deals by Obama ex-boss and Daley pal Davis , plus Rezko, Cellini
Chicago Sun-Times (IL) - Sunday, February 1, 2009
Author: Tim Novak, The Chicago Sun-Times
(snip)
- Kelly King Dibble, former IHDA executive director and relative of President Obama’s adviser Valerie Jarrett .
//
Dr. Orly, Obama Trust House Research Needed
A Natural Born Citizen...Orly? ^ | Jan 19, 2009 | me
Posted on Monday, January 19, 2009 9:22:28 AM by urtax$@work
Saturday, January 3, 2009 More help in research needed Obama’s house is sitting in a trust: Northern Trust Co, attorney Kelly Dibble. I got info that there are other properties sitting in that trust. Does anybody have addresses of these properties, legal descriptions, any info on these properties? What type of a trust is it: Charitable trust? Revocable? Irrevocable? Who are the beneficiaries? Who is listed as a trustor? Can smbd check microfish in county recorders office and get certified copies of tax payments? Orly Posted by Orly Taitz, DDS Esq. at 6:45 AM
http://209.157.64.200/focus/f-bloggers/2167360/posts
“Kelly King Dibble, former IHDA executive director and relative of President Obama’s adviser Valerie Jarrett .”
Well..well..well..how very interesting! Also....let’s not forget that one person on that list is now dead..Chris Kelly. And here is our prez, swimming in this cesspool for years, connected with all of the same thugs and thieves..yet we are suppose to believe that Obama smells as sweet as apple pie and never had anything to do with Chicago corruption. Give me a break...LOL!
It’s so embedded in the Swamp culture, they
don’t even doubt their own actions anymore.
~~~~~~~~~~~~~~~~~~~
The Real Mayor of Chicago
Excerpt:
Occasionally, Alderman Burke’s conflicts get reported on. When Obama ally and Blagojevich influence peddler Tony Rezko was looking to get his taxes cut on a big land deal the Chicago Sun-Times explained:
Why did Ald. Edward M. Burke vote to approve Tony Rezko’s plans to develop the South Loop’s biggest piece of vacant land even as he was working for Rezko on that same deal?
Burke says: I forgot to abstain.
When Rod Blagojevich first decided to run for Governor in 2001, he got important backing from Burke. Blago’s father in law, by the way, is Alderman Dick Mell, a colleague of Alderman Burke’s who got the ball rolling.The Daily Herald unearthed this revealing statement from Alderman Burke in 2001 concerning Blago:
“I am with Rod 100% because he has what it takes to win – money, message and an army of supporters,” said Burke, referring to a rousing announcement speech given by Blagojevich to a reported throng of 10,000 people on August 12. Burke also mentioned filings with election officials that show Blagojevich with over $3 million in his campaign fund, double the amount of cash on hand of all of his potential Democratic opponents combined.
In the coming years, as Chicago style politics seeps into America’s mainstream, remember Alderman Burke. Thirty of Burke’s colleagues on Chicago’s City Council went on to become convicted felons since 1970.
But Alderman Burke is still standing, and still dominating in the shadows, atop much of what happens in the Windy City.
http://www.newgeography.com/content/00835-the-real-mayor-chicago
He has also donated $68,000 to a bevy of Democratic candidates during this cycle, including Sens. Al Franken, Minn. and Harry Reid, Nev., and Senate candidates Paul Hodes, N.H., and Jack Conway, Ky. The other man, Michael Winter, was the office-mate of convicted fundraiser Tony Rezko.
In 2006, Illinois’ Capitol Fax blog reported that Winter gave at least $14,000 to Giannoulias’s race for state Treasurer, and that he had received a $2 million loan from the Giannoulias family’s Broadway Bank. Neither Cherry nor Winter has been charged with any crime.
The government’s evidentiary proffer against Blagojevich says that Winter and Cherry were alleged front-men for a conspiracy by a gang of Blagojevich cronies that included Democratic fundraisers Rezko and Chris Kelly, and Republican fundraiser Stuart Levine.
Kelly recently committed suicide, and the other two were convicted on corruption charges.(Excerpt) Read more at washingtonexaminer.com ...
Chicago Firehouse restaurant.
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