Latest news with #NBC5
Yahoo
3 days ago
- Yahoo
Renee Ferguson Dead at 75 After Trailblazing Journalism Career
Renee Ferguson, a trailblazing television reporter in Chicago, is dead at 75. How did Ferguson die? Ferguson's cause of death was not released. Tributes flowed in for the investigative journalist. NBC 5, her former television station, confirmed her death with her family on June 6, 2025. "Renee Ferguson left an incredible echo in our newsroom that still rings through the DNA of our investigative journalism, and that legacy will continue," said Kevin Cross, president and general manager of NBCU Local Chicago, to that station. According to that station, Ferguson was the first Black woman to work as an investigative journalist for a Chicago television station. She worked for NBC Chicago from 1987 through 2008, the station wrote. Indiana University honored Ferguson in an alumni tribute before her death. She was the co-founder of the Chicago chapter of the National Association of Black Journalists, the university wrote. "A television journalist and investigative reporter, Ferguson's writing roots trace back to her adolescence, even before she attended IU," the university bio says. "Her junior high school named her Most Likely to be a Journalist. Ferguson always wanted to be a writer, and living up to her middle school superlative, she has told countless stories over her career," the bio says. According to The Chicago Tribune, Ferguson's career spanned 25 years at two television stations in that city. Ferguson's husband, Ken Smikle, died before her, according to a 2018 article in the Chicago Sun-Times. It says that he died after his wife made a public plea for a donor heart for him. He was described as a "well-known" journalist who ran a marketing firm. He was 66 when he died after suffering from congestive heart failure, The Sun-Times Ferguson Dead at 75 After Trailblazing Journalism Career first appeared on Men's Journal on Jun 7, 2025
Yahoo
3 days ago
- Business
- Yahoo
‘A lesson in worst practices': Shocking audit reveals Chicago parking meters have made $2B for private company
Have you ever been strapped for cash? Perhaps you took a payday loan, sold a long-term asset or even made an early withdrawal from your 401(k). And chances are, you've later regretted it. This is the situation the City of Chicago finds itself in — and the cost may have been billions. Privatizing public infrastructure is a growing trend among cash-strapped cities that need fast revenue. Back during the 2008 financial crisis, Chicago was broke and needed to raise money. Rather than make the unpopular move of raising property taxes, then-mayor Richard M. Daley chose to privatize public assets. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'If we didn't have money for a long-term debt, you're talking about a serious economic crisis then for Chicago,' Daley said at the time, according to NBC 5 Chicago. So, Chicago City Council struck a deal to lease the city's 36,000 parking meters to investment consortium Chicago Parking Meters LLC, a group of global investors led by Morgan Stanley. The investors paid nearly $1.157 billion to receive the revenue from the meters for 75 years — and the city must reimburse them whenever the parking meters are taken offline, such as for festivals or construction. The deal was essentially rubber-stamped 40-5 in favor by the council, which had only a few days to review it before voting — turning out to be what the Better Government Association later called 'a lesson in 'worst practices.'' Soon after, a report issued by the then-inspector general found the city was paid at least $974 million less than it could have made from operating the parking meters itself over the term of the deal. While an analysis done by 32nd Ward Alderperson Scott Waguespack — who voted against the deal — found the deal could have been worth $5 to $10 billion, reported NBC 5. Now, a 2024 audit by accounting firm KPMG has found that, with another 58 years still left in the agreement, the private investors have already recouped their initial investment. In 2023, the meters generated a record $160.9 billion in income, bringing the total income from the start of the deal to $1.97 billion. 'It's just one of those deals that I would beg people never to replicate anywhere in the United States,' Waguespack told NBC 5. Still, many Americans can relate to the situation that faced Mayor Daley. When we're desperate for funds, we can make rash decisions that negatively affect our long-term financial health. Almost 4 in 10 (37%) U.S. adults would not be able to cover a $400 emergency expense with cash savings, according to the Economic Well-Being of US Households in 2024 report from the Federal Reserve Board of Governors. And while many of these people say they could cover the expense some other way, such as using a credit card, borrowing from family or friends or selling something, 13% would not be able to pay the expense by any means. About 58% of Americans are 'living paycheck to paycheck and experienced a cash emergency in the past 12 months,' according to The 2025 Cash Poor Report from peer-to-peer lending platform SoLo Funds. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it These 'cash-poor' Americans may not be who you think they are. Forty percent have a full-time job and one in seven cash-poor households earn more than $75,000 per year. The top unexpected expenses, according to the report, are auto repairs, medical bills and utility bills — common expenses that can happen to any of us. To cover these expenses, some may turn to short-term financing options that could end up costing them more money in the long term. For instance, buy now pay later (BNPL) services come with an average borrowing cost of 23%, according to The 2025 Cash Poor Report, which can increase substantially if the borrower incurs repeat late fees. Another option is a payday loan, which is one of the most expensive ways to borrow. The industry average cost of borrowing for payday loans is 35%, according to the report, but origination fees, late fees and processing fees can push this as high as 49% of the principal borrowed. Increased borrowing and missed payments can also affect your credit score, which in turn can limit your future ability to borrow. People might also look to sell long-term assets such as stocks, bonds or mutual funds, but this too can have long-term financial costs. If you're 30 years from retirement and sell $10,000 of an asset today that's earning 7% per year, then you'll have about $76,000 less when you retire due to the loss in compounding interest. Plus, research has shown that time out of the stock market can be costly — and missing the best days in the market can be devastating to your long-term returns. And, if you make an early withdrawal from a tax-deferred account such as a 401(k), you'll also pay a 10% tax penalty. To avoid high-cost borrowing in an emergency or cashing out long-term investments during a downturn, start by building an emergency fund that could cover unexpected expenses. A rule of thumb is to have three to six months' income in an accessible account, such as a high-yield savings account. While desperate times may call for desperate measures, it's worth consulting with a financial advisor (or a free counseling service) to discuss your options before getting saddled with debt or selling long-term assets. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
‘A lesson in worst practices': Shocking audit reveals Chicago parking meters have made $2B for private company
Have you ever been strapped for cash? Perhaps you took a payday loan, sold a long-term asset or even made an early withdrawal from your 401(k). And chances are, you've later regretted it. This is the situation the City of Chicago finds itself in — and the cost may have been billions. Privatizing public infrastructure is a growing trend among cash-strapped cities that need fast revenue. Back during the 2008 financial crisis, Chicago was broke and needed to raise money. Rather than make the unpopular move of raising property taxes, then-mayor Richard M. Daley chose to privatize public assets. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'If we didn't have money for a long-term debt, you're talking about a serious economic crisis then for Chicago,' Daley said at the time, according to NBC 5 Chicago. So, Chicago City Council struck a deal to lease the city's 36,000 parking meters to investment consortium Chicago Parking Meters LLC, a group of global investors led by Morgan Stanley. The investors paid nearly $1.157 billion to receive the revenue from the meters for 75 years — and the city must reimburse them whenever the parking meters are taken offline, such as for festivals or construction. The deal was essentially rubber-stamped 40-5 in favor by the council, which had only a few days to review it before voting — turning out to be what the Better Government Association later called 'a lesson in 'worst practices.'' Soon after, a report issued by the then-inspector general found the city was paid at least $974 million less than it could have made from operating the parking meters itself over the term of the deal. While an analysis done by 32nd Ward Alderperson Scott Waguespack — who voted against the deal — found the deal could have been worth $5 to $10 billion, reported NBC 5. Now, a 2024 audit by accounting firm KPMG has found that, with another 58 years still left in the agreement, the private investors have already recouped their initial investment. In 2023, the meters generated a record $160.9 billion in income, bringing the total income from the start of the deal to $1.97 billion. 'It's just one of those deals that I would beg people never to replicate anywhere in the United States,' Waguespack told NBC 5. Still, many Americans can relate to the situation that faced Mayor Daley. When we're desperate for funds, we can make rash decisions that negatively affect our long-term financial health. Almost 4 in 10 (37%) U.S. adults would not be able to cover a $400 emergency expense with cash savings, according to the Economic Well-Being of US Households in 2024 report from the Federal Reserve Board of Governors. And while many of these people say they could cover the expense some other way, such as using a credit card, borrowing from family or friends or selling something, 13% would not be able to pay the expense by any means. About 58% of Americans are 'living paycheck to paycheck and experienced a cash emergency in the past 12 months,' according to The 2025 Cash Poor Report from peer-to-peer lending platform SoLo Funds. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it These 'cash-poor' Americans may not be who you think they are. Forty percent have a full-time job and one in seven cash-poor households earn more than $75,000 per year. The top unexpected expenses, according to the report, are auto repairs, medical bills and utility bills — common expenses that can happen to any of us. To cover these expenses, some may turn to short-term financing options that could end up costing them more money in the long term. For instance, buy now pay later (BNPL) services come with an average borrowing cost of 23%, according to The 2025 Cash Poor Report, which can increase substantially if the borrower incurs repeat late fees. Another option is a payday loan, which is one of the most expensive ways to borrow. The industry average cost of borrowing for payday loans is 35%, according to the report, but origination fees, late fees and processing fees can push this as high as 49% of the principal borrowed. Increased borrowing and missed payments can also affect your credit score, which in turn can limit your future ability to borrow. People might also look to sell long-term assets such as stocks, bonds or mutual funds, but this too can have long-term financial costs. If you're 30 years from retirement and sell $10,000 of an asset today that's earning 7% per year, then you'll have about $76,000 less when you retire due to the loss in compounding interest. Plus, research has shown that time out of the stock market can be costly — and missing the best days in the market can be devastating to your long-term returns. And, if you make an early withdrawal from a tax-deferred account such as a 401(k), you'll also pay a 10% tax penalty. To avoid high-cost borrowing in an emergency or cashing out long-term investments during a downturn, start by building an emergency fund that could cover unexpected expenses. A rule of thumb is to have three to six months' income in an accessible account, such as a high-yield savings account. While desperate times may call for desperate measures, it's worth consulting with a financial advisor (or a free counseling service) to discuss your options before getting saddled with debt or selling long-term assets. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
4 days ago
- Business
- Yahoo
‘A lesson in worst practices': Shocking audit reveals Chicago parking meters have made $2B for private company
Have you ever been strapped for cash? Perhaps you took a payday loan, sold a long-term asset or even made an early withdrawal from your 401(k). And chances are, you've later regretted it. This is the situation the City of Chicago finds itself in — and the cost may have been billions. Privatizing public infrastructure is a growing trend among cash-strapped cities that need fast revenue. Back during the 2008 financial crisis, Chicago was broke and needed to raise money. Rather than make the unpopular move of raising property taxes, then-mayor Richard M. Daley chose to privatize public assets. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'If we didn't have money for a long-term debt, you're talking about a serious economic crisis then for Chicago,' Daley said at the time, according to NBC 5 Chicago. So, Chicago City Council struck a deal to lease the city's 36,000 parking meters to investment consortium Chicago Parking Meters LLC, a group of global investors led by Morgan Stanley. The investors paid nearly $1.157 billion to receive the revenue from the meters for 75 years — and the city must reimburse them whenever the parking meters are taken offline, such as for festivals or construction. The deal was essentially rubber-stamped 40-5 in favor by the council, which had only a few days to review it before voting — turning out to be what the Better Government Association later called 'a lesson in 'worst practices.'' Soon after, a report issued by the then-inspector general found the city was paid at least $974 million less than it could have made from operating the parking meters itself over the term of the deal. While an analysis done by 32nd Ward Alderperson Scott Waguespack — who voted against the deal — found the deal could have been worth $5 to $10 billion, reported NBC 5. Now, a 2024 audit by accounting firm KPMG has found that, with another 58 years still left in the agreement, the private investors have already recouped their initial investment. In 2023, the meters generated a record $160.9 billion in income, bringing the total income from the start of the deal to $1.97 billion. 'It's just one of those deals that I would beg people never to replicate anywhere in the United States,' Waguespack told NBC 5. Still, many Americans can relate to the situation that faced Mayor Daley. When we're desperate for funds, we can make rash decisions that negatively affect our long-term financial health. Almost 4 in 10 (37%) U.S. adults would not be able to cover a $400 emergency expense with cash savings, according to the Economic Well-Being of US Households in 2024 report from the Federal Reserve Board of Governors. And while many of these people say they could cover the expense some other way, such as using a credit card, borrowing from family or friends or selling something, 13% would not be able to pay the expense by any means. About 58% of Americans are 'living paycheck to paycheck and experienced a cash emergency in the past 12 months,' according to The 2025 Cash Poor Report from peer-to-peer lending platform SoLo Funds. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it These 'cash-poor' Americans may not be who you think they are. Forty percent have a full-time job and one in seven cash-poor households earn more than $75,000 per year. The top unexpected expenses, according to the report, are auto repairs, medical bills and utility bills — common expenses that can happen to any of us. To cover these expenses, some may turn to short-term financing options that could end up costing them more money in the long term. For instance, buy now pay later (BNPL) services come with an average borrowing cost of 23%, according to The 2025 Cash Poor Report, which can increase substantially if the borrower incurs repeat late fees. Another option is a payday loan, which is one of the most expensive ways to borrow. The industry average cost of borrowing for payday loans is 35%, according to the report, but origination fees, late fees and processing fees can push this as high as 49% of the principal borrowed. Increased borrowing and missed payments can also affect your credit score, which in turn can limit your future ability to borrow. People might also look to sell long-term assets such as stocks, bonds or mutual funds, but this too can have long-term financial costs. If you're 30 years from retirement and sell $10,000 of an asset today that's earning 7% per year, then you'll have about $76,000 less when you retire due to the loss in compounding interest. Plus, research has shown that time out of the stock market can be costly — and missing the best days in the market can be devastating to your long-term returns. And, if you make an early withdrawal from a tax-deferred account such as a 401(k), you'll also pay a 10% tax penalty. To avoid high-cost borrowing in an emergency or cashing out long-term investments during a downturn, start by building an emergency fund that could cover unexpected expenses. A rule of thumb is to have three to six months' income in an accessible account, such as a high-yield savings account. While desperate times may call for desperate measures, it's worth consulting with a financial advisor (or a free counseling service) to discuss your options before getting saddled with debt or selling long-term assets. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Connectez-vous pour accéder à votre portefeuille
Axios
19-05-2025
- Business
- Axios
Food reporter Steve Dolinsky exits NBC 5 for Levy Restaurants
After three decades on local television, food reporter Steve Dolinsky is calling it quits. The latest: Dolinsky announced Monday he is leaving NBC 5 to join Levy Restaurants. He will be a culinary connector and collaborator across Levy, which operates food service at restaurants, stadiums and convention centers. What they're saying: "Thirty years covering the same beat in the third largest market is quite a run," Dolinsky tells Axios. "I can't wait to deploy all of my skills for Levy, while still getting to do what I love but now getting to approach things on a national scale." Flashback: Dolinsky started his career reporting on Chicago's food scene at CLTV in the mid-'90s. In the 2000s, he became the lead food reporter at ABC 7. He left the station for NBC 5 in 2021. He also reported for Chicago radio station WBEZ. Zoom in: Dolinsky has been an advocate for Chicago's foodie scene, which exploded during his time covering it. He has won 13 James Beard awards and two Emmys. Zoom out: Chicago news stations have significantly shrunk their coverage of food. Dolinsky was one of the last reporters dedicated to covering the culinary arts, as most stations have moved coverage to general reporters.
