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Chicago Deals with Recession
Richard J. Daley, the mayor of Chicago, has cut the city's budget by millions and has implemented a hiring freeze throughout city government. Why? Recession.
"We're just like you," said Daley. "We're just like any other company. It's a huge company. You have the taxpayers, you have your shareholders. You have to do things to protect them."
But Chicago's chief financial officer, Paul Volpe, sounded optimistic. "I'm going to stand here before you today and say we have not seen anything turn down significantly. That's the message today. The message is this is proactive, not reactive."
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"We're just like you," said Daley. "We're just like any other company. It's a huge company. You have the taxpayers, you have your shareholders. You have to do things to protect them."
But Chicago's chief financial officer, Paul Volpe, sounded optimistic. "I'm going to stand here before you today and say we have not seen anything turn down significantly. That's the message today. The message is this is proactive, not reactive."
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 Chicago economic downturns Budget Planning |
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