The Daily Illini's editorial board weighs in on some of the biggest news that happened while we were away.
Created by thedailyillini on Jan 13, 2011
Last updated: 01/13/11 at 08:26 PM
Illinois Democrats passed income and corporate tax increases in the wee hours of Wednesday morning, and Quinn signed the legislation Thursday. Opponents say the last-minute measures will force businesses out of the state, and Indiana Gov. Mitch Daniels compared Illinois' dysfunction to that of "The Simpsons."
We don't think anyone was laughing after they saw the rates – from 3 to 5 percent for income and 4.8 to 7 percent for corporate – but the taxes are projected to create $6.8 billion a year in revenue, and our state is starved for cash.
http://www.businessweek.com/ap/financialnews/D9KNNGHG2.htm
Last year, we remembered. With all the benefits, concerts and constant reminders to help out the 1.5 million inhabitants who were left homeless and after a devastating earthquake, it was impossible not to. But a year later, it's hard to find the same level of passion and commitment to help the still one million Haitians who are left in makeshift homes.
http://news.nationalgeographic.com/news/2011/01/photogalleries/110111-haiti-earthquake-anniversary-world-2010-cholera-one-year-later-pictures-photos/
Years of rumors are finally put to rest. The iPhone is coming to Verizon. For years, iPhone owners in the U.S. complained about their network. Now they have a choice, which will hopefully lead to more competitive wireless plan prices between networks. Everyone will benefit: Apple, its customers and its shareholders.
http://www.engadget.com/apple/verizon-iphone/
After 10 years of moratorium and several votes, the Illinois House and Senate both passed a repeal of the death penalty last week. It’s about time. We’ve been urging the state to get rid of a policy that sent more than a dozen innocent people to their deaths, and now we’re hoping Gov. Quinn will sign the bill. Quinn has stood for the death penalty in the past, but we hope he will take cues from the general assembly and discontinue the out-of-date practice immediately.
http://www.dailyillini.com/opinions/editorials/2010/11/15/kill-the-death-penalty-once-and-for-all
Illinois running back Mikel Leshoure and defensive lineman Cory Liuget both announced that they will forgo their senior seasons to enter the NFL draft earlier this week. The junior standouts will join another junior standout, middle linebacker Martez Wilson, in trying to take their talents to Sunday afternoons next season. Despite weeks of speculation and a potential lockout in the pro ranks, the Illini will have to find a way to cope with the loss of three of their biggest playmakers.
http://www.dailyillini.com/sports/football/2011/01/11/illini-rb-leshoure-to-enter-nfl-draft-pool
On Jan. 8, a shooting in Tucson, Ariz., left six dead and 14 injured, including Congresswoman Gabrielle Giffords. Our thoughts and prayers are with the victims and those affected by this tragedy. The firestorm of blame and criticism from both sides of the aisle after the fact is evidence that the political environment in the United States is still as charged as ever.
http://www.dailyillini.com/news/us/2011/01/09/ariz-rep-shooting-suspects-nihilism-rose-with-isolation
Goldman Sachs, one of the most evil and powerful bankers in the country, gives Facebook, one of the most powerful and mysterious internet behemoths, $500 million to help them go public. The deal has been called "worse than toxic mortgages" and has re-vauled the company at a staggering $50 billion. Dotcom bubble 2.0, anyone?
http://blogs.wsj.com/deals/2011/01/11/why-goldman-sachss-facebook-deal-is-bad-for-markets/
The Fighting Illini played perhaps their most complete game of the season in the Texas Bowl, dispatching Baylor by a surprising 38-14 margin. Behind an efficient effort by quarterback Nathan Scheelhaase, the steady dominance of Mikel Leshoure on the ground and Cory Liuget's 5 tackle, 1 sack performance, the Orange and Blue gave fans plenty to hope for heading into the 2011 campaign.
http://www.dailyillini.com/sports/football/2010/12/29/illinois-tops-baylor-in-texas-bowl-finishes-season-7-6
Smart, fun-loving University seeks competent, ethical chancellor. If you enjoy fixing budget issues and long walks through corn fields (and would never hook up with a politician on the sly), please call.
http://media.www.dailyillini.com/news/campus/2010/12/17/chancellor-search-committee-set-work-begins-next-week
Physical proof that the smart kids in class do, in fact, go on to rule the world.
http://www.time.com/time/specials/packages/article/0,28804,2036683_2037183_2037185,00.html
Consumer spending jumped 5.5. percent from the 2009 to 2010 holiday season, the biggest marginal growth since 2005. Since 70 percent of all U.S. economic activity is attributed to consumer spending, many believe that the economy will finally pick up with the New Year.
http://news.yahoo.com/s/ap/us_holiday_shopping
Unemployment dropped from 9.8 percent of the workforce in November to 9.4 percent, a figure released earlier this month. However, part of that drop is due to people abandoning the job search and leaving the workforce. Analysts predict a long recovery ahead.
http://technorati.com/business/article/unemployment-down-to-94-hiring-gains/
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