Investing & Markets

Make better decisions with investing tips, technical analysis, market commentary, and more

Personal Finance

Make more, save more, spend smarter, and keep more of what you earn

Business News

Stock market news & analysis


Driver’s License Facility, State Lawmakers Face Eviction Over Nonpayment of Bills by State of Illinois

By Mike Shedlock on 09/05/2010 – 9:06 am PDTLeave a Comment

The state of Illinois is sitting on $4 billion in unpaid bills. Some of that is to hospitals, some to schools, some of it is internal transfers, but a lot of it affects the lives of real people who need the money to pay their bills.

For example, please consider Libertyville driver’s license facility may be evicted

Stephen Martin, whose family owns the Brookside shopping center on the 300 block of Peterson Road that houses the Secretary of State office, has sent a letter to state officials saying he wishes to terminate the lease agreement because of the long-overdue payments. Martin said the state owes him nearly $43,000 in back rent and expenses.

It’s not the first time the state has fallen behind on payments for the facility, which opened in 1987, Martin said. Payments were six months overdue by the time a check was cut in December, and this past April the state owed Martin four months worth of rent when it finally paid.

If the state doesn’t pay up this time, Martin said, he will go to court and begin eviction proceedings.

The delinquent rent checks are symptomatic of the state’s ongoing financial problems. The comptroller’s office has $4.3 billion in unpaid bills in its system, spokesman Alan Henry said this week.

Several state lawmakers have faced eviction because of late payments; just this week, state Rep. Sandy Cole of Grayslake temporarily began working out of her house because her office was shut down.

Without a doubt, Illinois is bankrupt.

Mike “Mish” Shedlock
Click Here To Scroll Thru My Recent Post List

Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Tags: , brookside shopping center, Driver, Eviction, , office

Related Articles:

  1. California Showdown - Court sides with Schwarzenegger on minimum wage; L.A. council Fires 232 Workers; Illinois Stops Paying Bills Keeps Digging Holes
  2. Landlords: 3 Tips for Dealing with Unpaid Rent
  3. What is an Eviction?
  4. Illinois Doesn’t Pay Bills; Crisis Pushes Businesses to Edge of Bankruptcy
  5. The Eviction Process for Landlords

Leave a comment!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.