8 August 28, 2013

A rundown of the morning’s hottest headlines, from the editors of Grid.

1 Belly up 

Chicago customer-loyalty system Belly nabs $12.1 million in new funding from Lightbank and other investors. [Fast Co.]

2 Penalties for JPMorgan

Federal regulators are ready to issue at least $80 million in fines against JPMorgan related to its dealings with customers during the recession. The nation’s biggest bank will also have to acknowledge internal flaws as part of the civil orders. [NY Times]

3 Rent to own 

How long does it take till you’re throwing money away on rent? In Chicago, it’s 2½ years, according to our rental index. [Grid]

4 Police pay 

A decision by the Illinois Labor Relations Board could end the Chicago Police union’s push for a retroactive pay raise. [Sun-Times]

5 Meister plan 

The Radler is a contemporary German restaurant with a big mural, a fair bit of funding and very little competition. [Grid]

6 Ventra vexes 

CPS parents using the CTA’s new Ventra cards are running into glitches. [Tribune]

7 Competitive lenders  

BMO Harris increased its business lending by 4 percent in the last quarter, but saw revenue and profit compressed by Chicago’s highly competitive banking market. [Crain’s]

8 A boost for small biz

Meanwhile, if this study is to be believed, Chicago entrepreneurs should continue to see bankers loosen up as the housing market recovers. [Businessweek]

The Latest
Beginning with a $10 million appropriation for the fiscal year beginning July 1, Gov. J.B. Pritzker is hoping lawmakers approve the plan which he said will provide nearly $1 billion in medical debt relief for an initial batch of 340,000 Illinois residents. If approved, the investment would mark the first year in a multi-year plan.
Relatives of Ariana Molina have set up a GoFundMe account after Ariana was killed Saturday during a confirmation celebration with her family. Ten other people, including her mother, were wounded. Police blame gangs for the shooting.
The case before the nation’s high court Monday was not Madigan’s, but the corruption case against James Snyder, a former mayor of Portage, Indiana. The justices acknowledged their decision in the case will have implications for prosecutions across the country, though.
Ariana Molina estaba con su familia celebrando una confirmación el sábado por la noche cuando se efectuaron disparos. Diez personas, entre ellas la madre de Ariana, resultaron heridas. La policía culpa a las pandillas por el tiroteo.
Advocates for the incarcerated filed a petition with the U.S. EPA, asking the environmental agency to step in and fix a crisis they say Gov. Pritzker is not addressing.