fees
Mayor Rahm Emanuel Won’t Say No To Property Tax Hike To Bailout Chicago Public Schools
One of the reasons my girlfriend and I decided to move out of the city of Chicago is because we knew it was only a matter of time before mounting financial woes would result in less government services (public safety was particularly on our minds), more fees, and higher taxes.
And speaking of higher taxes for Chicagoans, I spotted this on the Chicago Sun-Times website yesterday. Fran Spielman and Lauren Fitzpatrick wrote Tuesday:
Chicago homeowners and businesses have grown accustomed to up-to-the-limit school property tax increases, but they might be forced to endure even more pain to bail the Chicago Public Schools out of a $1 billion shortfall.
On Tuesday, Mayor Rahm Emanuel refused to rule out a worst-case scenario that his handpicked school team has already discussed with legislative leaders: asking the Illinois General Assembly to lift the property tax cap to pave the way for an even bigger increase than would otherwise be allowed.
Emanuel said he would turn first to yet another round of administrative cuts, now that the Legislature has adjourned without easing pension payments bearing down on CPS.
But, after that, he’s making no promises to steer clear of a property tax increase, which many view as the third-rail of politics.
(Editor’s note: Italics added for emphasis)
The $1 billion Chicago Public Schools budget shortfall is just one of a number of financial problems facing the “Windy City” which have been on my radar for quite some time now. I blogged back on September 13, 2012:
By now, many of you have probably heard about the teachers strike going on in Chicago. Day 4 and counting. While many Chicago public school teachers are probably worth every red cent of the $71,017 median salary they command- and more- when all things are considered, considering the precarious financial situation of the Chicago Public Schools, a larger crisis looks to be right around the corner. Rosalind Rossi wrote on the Chicago Sun-Times website yesterday:
As school and union leaders wrestled over a new teachers contract Tuesday, a huge, nagging question loomed in the background:
Once they finish, how will Chicago Public Schools pay for any new contract they forge?
There’s no easy give in the budget, because CPS already depleted its rainy day “reserve” fund to help plug a $665 million deficit this school year.
And if officials eke out enough cuts to pay for the cost of teacher raises this school year, a $1 billion deficit — and no “reserve” cushion — awaits them next school year, when a pension relief package expires.
(Editor’s note: Italics added for emphasis)
Less government services, more fees, and much higher taxes- a scenario that’s begun to be played out in Chicago.
And look for it to pick up steam in the coming years.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Spielman, Fran and Fitzpatrick, Lauren. “Emanuel won’t rule out property tax hike to fill CPS budget hole.” Chicago Sun-Times. 11 June 2013. (http://www.suntimes.com/20679323-761/emanuel-wont-rule-out-property-tax-hike-to-fill-cps-budget-hole.html). 13 June 2012.
Civic Federation: Funding Continues To Decline For Chicago-Area Public Employee Pension Funds
The Chicago-based Civic Federation is out with a new report about the health of Chicago-area public employee pension funds. The independent, non-partisan government research organization that provides analysis and recommendations on government finance issues for the Chicago region and State of Illinois put out the following news release this morning:
Aggregate Unfunded Liability for Chicago-area Public Pension Funds Increased by $4.6 Billion in FY2011
(CHICAGO) A Civic Federation report released today examines the continued funding decline of Chicago-area public employee pension funds. Unfunded liabilities for the ten funds analyzed in the report increased to $32.0 billion in fiscal year 2011 from $27.4 billion in fiscal year 2010, an increase of 16.7% according to the most recent audited data available. For all pension funds supported by the taxes of Chicago residents, including statewide funds, the total unfunded liabilities reached $16,914 per Chicago resident in FY2011.
“Without comprehensive reforms, this staggering level of pension obligations will soon mean dramatic tax increases, significant service cuts or both for Chicago residents,” said Civic Federation President Laurence Msall. “Illinois and local lawmakers owe it to taxpayers and public employees to agree on reforms that will significantly reduce pension costs for our state and local governments and ensure that the funds remain solvent for current and future public employees.” In the report, the Federation urges local governments to develop pension reform frameworks suited to their own employee population, statutory provisions and funding levels. The report cites Cook County Commissioner Bridget Gainer’s OpenPensions.org site as an example of transparently advocating for changes tailored to the needs of the County’s pension fund.
Each of the ten funds analyzed in the report experienced sharp funding declines in the last decade. On average, the ten funds had an actuarial funding level of 50.8% in FY2011, down from 80.3% in FY2002. All ten funds are now funded below 65%, ranging from a low of 28.3% for the Fire Fund to a high of 64.9% for the Laborers’ Fund.
The declining health of Chicago-area public pension funds is due in large part to inadequate employer contributions over a sustained period and recent investment losses. All of the local funds analyzed received their statutorily required employer contributions in FY2011. However, the employer contribution level set by State statute was approximately $1.6 billion short of the $2.5 billion level necessary to cover current costs for the funds and reduce their unfunded liabilities over a 30-year timeframe.
Adequate funding levels are likely to be even more difficult to attain in the future because the funds have fewer employees to support a rising number of beneficiaries. In FY2011 the ten funds had 1.16 active employees for every beneficiary, down from 1.65 actives per beneficiary in FY2002. Six of the ten funds – the Police, Laborers’, MWRD, Forest Preserve, CTA and Park District Funds – had more beneficiaries than active employees in FY2011.
The Federation’s analysis reviews the FY2011 actuarial valuation reports and financial statements for the City of Chicago’s Police, Fire, Municipal and Laborers’ Funds, the Chicago Teachers’ Pension Fund and the pension funds of Cook County, Forest Preserve District of Cook County, Chicago Park District, Metropolitan Water Reclamation District and the Chicago Transit Authority. FY2011 data is the most recent audited data available for all ten funds.
The full 79-page report, available at www.civicfed.org, is intended to provide policymakers, pension trustees, pension fund members and taxpayers with the resources to make informed decisions regarding public employee retirement benefits.
(Editor’s note: Italics added for emphasis)
Even though I’ll be moving out of Chicago very soon, I’ll still be living in Cook County. As such, I won’t be surprised to get hit with more fees and taxes, in conjunction with less government services, as financial challenges grow at the county and state level.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
State Of Illinois Bankrupt By 2015?
While it’s “business as usual” for Illinois politicians, two influential groups grow increasingly-wary of the state’s financial situation. Paul Merrion reported on the Crain’s Chicago Business website back on April 22:
Most wealthy Chicago-area investors are optimistic about the global and national economic outlook, but many fear a downturn in the Illinois economy this year, a new survey finds.
The state’s financial well-being has 76 percent of local investors “very concerned,” while only 46 percent feel that way about the prospects for the U.S. economy, according to a survey by Morgan Stanley Smith Barney LLC. A bit more than half (52 percent) said the state’s pension crisis was their top concern, and 58 percent foresee that the Illinois economy will get worse by year-end.
Speaking of the state’s public pension crisis, a pro-Illinois taxpayer group is warning it has the potential to bankrupt the State of Illinois. John Cody reported on the CBS Chicago website Tuesday:
A conservative watchdog group is warning of dark days ahead for the entire state unless Illinois mends it’s financial ways, and soon.
Taxpayers United President Jim Tobin, is essentially blaming Democrats with a two house super-majority for failing to act on pension reform reform.
“Illinois will be the first state to go bankrupt, unless pension reforms are implemented,” said Tobin.
And Tobin’s numbers suggest it’ll be sooner rather than later.
“Yeah, 2015 is about right,” said Tobin.
And yet, state lawmakers continue to fiddle (waste time on more trivial issues) while Illinois burns.
My prediction? Illinois residents should prepare themselves for a combination of more fees, taxes, and belt-tightening from and by the State. Most likely, sooner rather than later.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Sources:
Merrion, Paul. “Rich Chicagoans fret about Illinois economy: survey.” Crain’s Chicago Business. 22 Apr. 2013. (http://www.chicagobusiness.com/article/20130422/NEWS02/130419726/rich-chicagoans-fret-about-illinois-economy-survey). 3 May 2013.
Cody, John. “Conservative Watch Dog: Pensions Could Bankrupt Illinois By 2015.” CBS Chicago. 30 Apr. 2013. (http://chicago.cbslocal.com/2013/04/30/conservative-watch-dog-pensions-could-bankrupt-illinois-by-2015/). 3 May 2013.
Illinois Criminals Count Blessings As Prisons And Other Correctional Facilities Close
Illinois residents- is it just me, or does it seem like there’s no shortage of stories out there of convicted criminals in the state who roam the streets and never see prison time, or if they do, aren’t behind bars for that long?
It a topic I’ve blogged about as recently as a week ago.
And I suspect the ongoing closure of prisons and other related facilities in Illinois as it battles a huge fiscal mess will only make matters worse. Monique Garcia and Rafael Guerrero reported on the Chicago Tribune website last night:
Gov. Pat Quinn on Monday stood by his decision to close two prisons and several halfway homes, even as overcrowding at remaining facilities has forced the Illinois Department of Corrections to convert gym space into housing for inmates.
Other facilities that have been closed or are in the process of being shut down include Tamms Correction Center (a “supermax” prison; closed), Illinois Youth Center at Murphysboro (a juvenile justice center; closed), Illinois Youth Center at Joliet (closing), Dwight Correctional Center (maximum security prison for women; closing), and three inmate transitional centers (closing).
Garcia and Guerrero added:
The Democratic governor said he hoped overcrowding would be eased by a revamped good-behavior credit program the administration plans to implement in the coming months.
Illinois residents might remember that didn’t turn out too well the last time around.
At a time when the State of Illinois looks like it could use more prisons and other correctional facilities, they’re being shuttered.
Surveying the economic landscape, I don’t expect much in the way of a resurgence for Illinois anytime soon (ongoing fee/tax hikes will help take care of that). As such, budgets for law enforcement agencies and the penal system will probably continue to be tightened, and criminals will grow bolder knowing the “thin blue line” is slimmer and doing time may be just a temporary visit to the slammer.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
Garcia, Monique and Guerrero, Rafael. “Quinn stands by decision to close 2 prisons, despite inmate crowding.” Chicago Tribune. 18 Feb. 2013. (http://www.chicagotribune.com/news/local/ct-met-quinn-prison-closures-0219-20130219,0,2758226.story). 19 Feb. 2013.
Illinois’ Total Unfunded Liabilities: $275 Billion
The following bit about Illinois’ total unfunded liabilities from a January 28 Investor’s Business Daily editorial was so depressing to read that I originally planned to blog about it much earlier this morning- but needed to step away. From the IBD website:
A recent release by the Illinois Policy Institute shows this [$96.8 billion unfunded debt to five state pension systems] is only the tip of the iceberg and when you add in other liabilities such as $54 billion in unfunded liabilities for retiree health insurance and $15 billion in pension bonds that Gov. Pat Quinn and his immediate predecessor, former Gov. Rod Blagojevich, issued to avoid pension reform, Illinois’ total unfunded liabilities amount to $275 billion, or $58,000 in debt for each and every household in the state.
(Editor’s note: Italics added for emphasis)
So what’s it going to be, Illinois? Since a booming economy seems unlikely to return anytime soon, will the Democrat-dominated Illinois General Assembly finally enact significant spending cuts? Raise fees and taxes through the roof? Throw public sector retirees “under the bus?”
They’re going to have to do something real quick.
Or watch the whole thing unravel.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Source:
“Obama’s Illinois Downgrade Makes It America’s Greece.” Investor’s Business Daily. 28 Jan. 2013. (http://news.investors.com/ibd-editorials/012813-642237-credit-downgrade-illinois-standard-poors-worst.htm). 31 Jan. 2013.
Cook County Enacts $25 Per-Gun Tax On Firearm Purchases
After reading the following a short time ago about Cook County (Illinois) Board President Toni Preckwinkle’s gun tax on law-abiding residents to pay for the stupid actions of local criminals, I thought to myself, “I can’t get out of Cook County fast enough.” From Hal Dardick on the Chicago Tribune website at lunchtime:
The cost of buying cigarettes and guns in Cook County will rise next year after commissioners today voted 16-1 to approve County Board President Toni Preckwinkle’s $2.95 billion budget.
In addition to the $1-per-pack increase on a pack of smokes and a new $25 per-gun tax on firearm purchases, the board also enacted a 1.25 percent use tax on large out-of-county purchases, with an exemption on the first $3,500 spent. There’s also a $1,000-per-year tax on slot machines and a $200-per-year tax on video gambling terminals.
The cigarette tax increases March 1, while the use tax and gun tax are effective April 1.
(Editor’s note: Italics added for emphasis)
So, it’s now “official”- Cook County, Illinois, is now the only place in America that levies a special tax on purchasers of firearms.
Funny how Cook County officials and the “watchdog” Chicago news media never talked about how this new gun tax will impact major sporting goods retailers who do brisk business selling firearms and have a presence in the county, such as Cabela’s and Dick’s Sporting Goods.
I’m guessing their respective corporate offices are running the numbers right now to decide whether or not to shut down their retail stores in Cook County.
A subject that’s already being discussed.
“Opening Soon! The Trinkets And Other Crap For Sale Store”
Soon-to-be-seen signage at the former sites of 40 or so gun shops and the Hoffman Estates Cabela’s in Cook County? There’s plenty of these kinds of businesses already around.
In total, Cook County Board President Toni Preckwinkle and the 17 Cook County Commissioners just hiked fees and taxes for area residents and business by a projected $41.7 million. Meanwhile, Cook County residents and businesses struggle to keep afloat in the ongoing financial crisis.
Forward!
Source:
Dardick, Hal. “New Cook County budget includes $1-a-pack cigarette tax hik.” Chicago Tribune. 9 Nov. 2012. (http://www.chicagotribune.com/news/politics/clout/chi-new-cook-county-budget-includes-1apack-cigarette-tax-hike-20121109,0,384861.story). 9 Nov. 2012.
Thoughts On Chicago Mayor Rahm Emanuel’s Proposed 2013 Budget
Sorry about not posting new material earlier in the week. I’ve been utilizing a relatively-new high-speed wireless Internet connection up in Wisconsin, but haven’t gotten rid of all the gremlins just yet. Hopefully, I’ll have this wrapped-up in the next couple of days so I can blog just as efficiently there as in Chicago.
Speaking of the “Windy City,” on Wednesday Mayor Rahm Emanuel presented his proposed 2013 budget to the Chicago City Council. From the City of Chicago website:
Mayor Rahm Emanuel today presented the proposed 2013 budget to the City Council, an $8.3 billion budget that balances the City’s finances without introducing new taxes, fines or fees, and completely eliminates the employee head tax by the end of 2013, earlier than promised…
The City began the 2013 budget process with a projected deficit of $369 million deficit, half of what had originally been projected, but still a substantial gap. This deficit was cut to $298 million in September when the City identified $71 million in additional savings and revenue for the remainder of 2012 and 2013, including $26 million in cost additional savings and $45 million in additional revenue. The $298 million gap is the smallest since the 2008 recession…
The City closed the remaining 2013 gap through $67 million of spending reforms and cuts, including $10 million in savings from strategic sourcing on city contracts and $5.8 million in information technology reforms; $45 million in personnel savings including $20 million in layoffs, attrition and vacancy sweeps, and $5 million from partnerships with labor; $70 million in healthcare savings; $10 million from TIF reform; $24 million in improved debt collection; $42 million in additional revenue growth; and $40 million from refinancing long-term debt.
(Editor’s note: Italics added for emphasis)
About that “$45 million in additional revenue.” That’s just projected tax revenue on real property transfer, hotel, sales and electricity taxes until the end of September 2013- something I noted back on September 29.
You don’t need me to point out that in these uncertain times, a lot could happen to the U.S. and local economy over the next 12 months.
And what of this “$42 million in additional revenue growth?” More projections. Greg Hinz wrote in his blog on the Crain’s Chicago Business website Wednesday:
$42 million in other revenue enhancements such as income from selling more taxi medallions and finding corporate sponsors for city programs.
Because I’ve witnessed so many revisions to government forecasts over the years, I am skeptical about this projected revenue.
And since the barbarians are already at that gates of the Northwest Side neighborhood I reside in, I was very interested in Mayor Emanuel’s plans for public safety going forward. From that piece on the City’s website:
Investing to Enhance Public Safety
• Funding for CPD to hire officers to remain at full strength at all times
• There will be 457 recruits in the police academy by the end of the year and quarterly classes throughout 2013, ensuring that CPD remains at full strength throughout the year.
• Because CPD will be at full strength, weekend surge overtime will be available year-round instead of summer weekends only
• CAPS reorganization – Resources that are concentrated at CPD headquarters will be allocated to the police districts and communities where they belong.
(Editor’s note: Italics added for emphasis)
The Chicago Police Department to finally be at “full strength?”
That I’ve got to see.
Why do I suspect the goal posts are going to be moved here?
City Hall does know some people actually read this stuff, and won’t hesitate calling them out if these things don’t materialize, right?
Just checking.
Anyway, Rahm Emanuel’s proposed budget for FY 2013 is certainly ambitious, and if the Chicago ends up being better off for it, then more power to him.
Probably want to strike that last part, huh?
You can read the City of Chicago press release on the city’s website here.
Source:
Hinz, Greg. “Mayor’s new budget: No new taxes, but lots of new revenue.” Greg Hinz On Politics. 10 Oct. 2012. (http://www.chicagobusiness.com/article/20121010/BLOGS02/121019992/mayors-new-budget-no-new-taxes-but-lots-of-new-revenue). 12 Oct. 2012.
Chicago Mayor Rahm Emanuel Not Raising Fees, Fines, Or Taxes To Plug Projected $298 Million Budget Gap In 2013
Because there’s more material I want to talk about before calling it a week, I’ll be publishing a few posts this Saturday morning.
The last couple of days I’ve been blogging quite a bit about Chicago’s shaky finances. Namely, a projected $298 million budget deficit for fiscal year 2013 along with a pension funding gap that could reach $700 million in a couple of years. Well, the following came across the newswire last night. From Hal Dardick on the Chicago Tribune website:
Mayor Rahm Emanuel said Friday he will not increase taxes, fines or fees in next year’s budget but will rely on unspecified spending cuts and better tax collections from an improved economy to close an estimated $298 million shortfall.
“No new taxes, fines and fees,” Emanuel said in a telephone interview with the Tribune.
And then there was this from Fran Spielman on the Chicago Sun-Times site:
Mayor Rahm Emanuel says he’s decided to hold the line on taxes, fines and fees in his 2013 budget and count on rebounding revenues, continued cost-cutting and dunning deadbeats to erase a revised $298 million shortfall.
“Through the reforms and cuts and efficiencies, we’ll be able to have a budget that’s balanced without any taxes, fines or fees that we control. The only tax that will be dealt with is the employee head tax—and that will be eliminated,” Emanuel said.
I took away a couple of things from this.
First, while Chicago residents can hope for minimal erosion to city services as operations are streamlined and made more “efficient,” there’s a good chance the opposite could happen. “Efficiency” for politicians, bean-counters, and others with minimal contact with the rest of society doesn’t often mean the same for the rest of us end-users on Main Street.
Look for jawboning from City officials to increase more than it already has should municipal services deteriorate.
Second, City of Chicago employees and their respective unions should be concerned. Seriously concerned.
Third, and finally, what kind of economic outlook is being provided to Mayor Emanuel and City Hall? Which is a big deal, as the Mayor is depending quite a bit on an “improved economy” to plug that projected $298 million budget gap. Why is it that the really smart people who correctly-predicted the 2008 global financial crisis- among other events like the U.S. housing crash and “Great Recession”- now warn of a tough 2013 in addition to possible recession and resumption of the economic crisis, while those who didn’t see any of the above coming (or just didn’t want to believe it) are the ones saying that a sustainable economic recovery is in place? Who would you believe? The group that’s already established its “street cred,” or the others who refuse to go away like the rest of their former colleagues who came to accept they’d been discredited and would have to seek another line of work to earn a living?
The Internet sure is a bitch when it comes to leaving a record of one’s bad financial and investing advice.
That being said, I hope economic conditions are indeed favorable in the coming fiscal year for Mayor Emanuel and the City of Chicago to successfully plug the projected budget deficit without giving away too much in terms of operational integrity and true efficiency.
Sources:
Dardick, Hal. “No new taxes, fines or fees, mayor vows.” Chicago Tribune. 28 Sep. 2012. (http://www.chicagotribune.com/news/local/breaking/chi-no-new-taxes-fines-or-fees-mayor-vows-20120928,0,6124447.story). 29 Sep. 2012.
Spielman, Fran. “Read Rahm’s lips: No new taxes in next city budget.” Chicago Sun-Times. 28 Sep. 2012. (http://www.suntimes.com/15441323-761/read-rahms-lips-no-new-taxes-in-next-city-budget.html). 29 Sep. 2012.
Chicago Pension Funding Gap ‘Could Reach $700 Million In Just A Few Years’
I think most of my neighbors are clueless as to how expensive it’s soon going to get being a Chicago homeowner (like it’s cheap already).
Some really big bills are fast coming due, like state-required payments to fully-fund City of Chicago employee pensions (as if the City shouldn’t have been doing this already).
Hal Dardick wrote on the Chicago Tribune website Wednesday:
One of Mayor Rahm Emanuel’s top aides privately briefed aldermen on the city’s pension woes Wednesday as the mayor’s closest City Council ally prepared for hearings that will put city retirement fund officials in the hot seat.
Chief Financial Officer Lois Scott reminded council members that absent significant changes to pension plans, the city will be forced to drastically cut services, raise taxes or do both to close a funding gap that could reach $700 million in just a few years, aldermen said…
Absent a city pension overhaul, the fund for retired city firefighters would become insolvent in nine years, according to a city report issued two years ago. The police pension would go broke four years later. Funds for city laborers and municipal workers would be broke by 2030.
(Editors’ note: Italics added for emphasis)
A $700 million pension funding gap in “just a few years.” The firefighters’ pension fund broke by 2021. The cops’ pension fund insolvent by 2025. Pension funds for other retired city employees toast by 2030.
Chicago residents shouldn’t kid themselves into thinking cutbacks alone will close the pension funding gap. As things stand, fees, fines, and taxes will be going higher- unless changes are made, or the law is. Dardick added:
A state law approved a couple of years ago requires the city to start making payments by 2015 to fully fund the police and fire funds. The city now uses property taxes to cover pension costs, and without changes, aldermen were told they would have to raise that unpopular tax by up to 80 percent.
(Editor’s note: Italics added for emphasis)
Raise Chicago property taxes by “up to 80 percent?”
Some years ago something called “White Flight” took place in (actually, out of) the city. A similar phenomenon could soon happen again- regardless of skin color- if significant service cutbacks and rising fees, fines, and taxes become the reality for Chicago homeowners.
Source:
Dadrick, Hal. “Aldermen reminded of looming pension crisis.” Chicago Tribune. 26 Sep. 2012. (http://www.chicagotribune.com/news/local/ct-met-chicago-emanuel-pensions-0927-20120927,0,6433883.story). 28 Sep. 2012.
Cook County Looking To Plug Projected $115 Million Budget Gap For 2013
Yesterday morning, I talked about Chicago’s newly-projected $298 million budget deficit for FY 2013 and Mayor Rahm Emanuel’s mulling over cuts and hikes to plug the gap.
Around the same time, I was also made aware of Cook County’s projected $115 million budget deficit for the coming fiscal year. Hal Dardick wrote on the Chicago Tribune website Wednesday:
Cook County Board President Toni Preckwinkle is considering a combination of targeted tax and fee hikes along with cutting costs to bridge what’s expected to be a $115 million budget shortfall next year.
But a property tax increase remains off the table…
The county also will likely leave vacant positions unfilled, reduce employee health care costs and lower vehicle expenses by having employees share county vehicles, [Cook County Budget Director Andrea] Gibson said.
Preckwinkle will be presenting her budget for FY 2013 next month (Cook County’s fiscal year begins December 1). In 2012, the county laid off workers and hiked taxes and fees to generate $50 million to go towards balancing the budget.
Cook County’s budget picture looks better compared to a couple of months ago, when it was being reported the county was facing a shortfall of nearly $268 million next year.
However, the second most populous county in the United States still faces a pension fund gap that had grown to $5.2 billion by the end of 2010. As I noted back in April, Cook County’s pension fund will go broke in 26 years without changes being made.
Source:
Dardick, Hal. “Cook County weighs hikes, cuts to fill $115 million gap.” Chicago Tribune. 25 Sep. 2012. (http://www.chicagotribune.com/news/local/ct-met-cook-county-0926-20120926,0,132158.story). 26 Sep. 2012.
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