A little more than two years ago, Chicago's then-mayor-elect, Rahm Emanuel, expressed his gratitude to supporters on election night.
"Thank you Chicago, for this humbling victory," he told the crowd. "You sure know how to make a guy feel at home."
But today, Emanuel faces sobering challenges common to most of American's biggest cities.
Not only are schools troubled, Chicago's homicide rate spiked last year — a total of 516 murders — the highest in 10 years. Unemployment is 9 percent. And the city's deficit is looming near the $1 billion mark.
Originally published on Sat October 19, 2013 5:28 pm
In what would be the largest such settlement in U.S. history, JPMorgan Chase & Co. has reportedly reached a tentative deal with the Justice Department that would see the bank pay $13 billion to settle civil charges related to wrongdoing by some of its units just before and during the housing crisis.
The deal, sources tell news outlets including NPR, would not absolve JPMorgan from possible criminal liability.
Word of the tentative agreement emerged around 3 p.m. ET. Saturday. We posted when the news broke and followed with background and more details.
Originally published on Sat October 19, 2013 2:37 pm
An anonymous buyer on Saturday paid about $1.6 million for a violin believed to have been played by one of the musicians who famously stayed aboard as the Titanic sank in the icy waters of the North Atlantic in April 1912.
The Associated Press writes that "the sea-corroded instrument, now unplayable, is thought to have belonged to bandmaster Wallace Hartley, who was among the disaster's more than 1,500 victims."