Wal-Mart ILC faces many challenges

Members of Congress move to close loophole

"The character, powers and ownership of ILCs have changed materially..." - Alan Greenspan

Opposition is building to Wal-Mart's application for an industrial loan company charter, and not just from the banking industry. Powerful members of Congress have registered their distaste for the proposal, and in the waning days of his term, departing Federal Reserve Chairman Alan Greenspan urged Congress to rein in the expansion of ILCs.

Ironically, the National Association of Realtors has joined the chorus, too. At best this could be a mixed blessing for banking, as NAR's position on the Wal-Mart application is coupled with its …

Widow of Enron founder Lay says her husband didn't commit any crimes

The widow of Enron Corp. founder Kenneth Lay says her husband did not commit any crimes, according to court documents filed Friday in the ongoing effort by the federal government to seize nearly $13 million (euro8.81 million) in assets from his estate.

Linda Lay's claims were in response to an October 2006 civil action filed by federal prosecutors after her husband's convictions for his role in Enron's collapse were vacated following his death last year.

The civil action was the only way federal authorities could try to seize $12.7 million (euro8.6 million) in assets they claim were "proceeds of the fraud proven in the criminal case against …

Lilly's gem is flawed

Games like this are why managers like Lou Piniella tolerate postgame media sessions for barely a minute, why veteran players don't talk much about division leads in August and why nobody from Chicago older than a Chinese gymnast should take the Cubs' coronation for granted.

Even when the best and hottest team in the National League is playing a roster-gutted last-place team at home. Had the Brewers lost on Wednesday, the Cubs would have had a chance to open the franchise's biggest division lead since 1984.

''I wasn't aware of that,'' Cubs manager Lou Piniella said before Wednesday's 2-1 loss to the Cincinnati Reds. ''And I really don't care.''

Nobody this side of …

COMMUNITY CALENDAR

March 18-31

Arts & Entertainment

Tues., Mar. 22 - Children's author and North Shore resident Marlene Targ Brill will discuss her newest book, Annie Shapiro and the Clothing Workers' Strike, 7 p.m., Max & Benny's Restaurant, 461 Waukegan Rd., Northbrook; free.

Brill tells the story of the 17 -year-old girl who led Chicago sweatshop workers in a strike for better conditions in clothing factories.

In its review (Nov. 26, 2010) the Jewish Star said the book "will capture the imagination of a young reader."

Call 847-542-4624.

Sat., Mar. 26 - Lincolnwood Chamber Orchestra, conducted by Philip Simmons, will perform "Music of Spring", 2 …

Bengals Take Advantage of Jets' Mistakes

CINCINNATI - Don't blame Chad Pennington solely for this one. He had a lot of help. Kenny Watson ran for 130 yards and three touchdowns in the best performance of his career, and the Cincinnati Bengals turned the New York Jets' second-half meltdown into a 38-31 victory Sunday.

Hardly a drive went by without a major gaffe by two of the NFL's most disappointing teams.

The Bengals (2-4) snapped a four-game losing streak that was their longest during coach Marvin Lewis' five seasons. Watson led the way, playing like a star instead of Rudi Johnson's fill-in.

The seventh-year runner with a half-dozen career starts scored on runs of 1 and 2 yards in the second half, …

SPIN METER: White House straddles health tax issue

When it comes to taxing health insurance benefits, President Barack Obama hasn't said yes, and may never. But he and his top aides won't quite say no, either, to an idea he attacked sharply in his campaign for the White House.

Instead, they are in full straddle, a well-known Washington maneuver accompanied by a vocabulary designed to obscure.

"That was not in the president's plan. It was not in our budget," the administration's budget director, Peter Orszag, said Tuesday after the possibility of taxing benefits was raised _ not for the first time _ by Democratic Sen. Max Baucus of Montana, chairman of the Senate Finance Committee.

Read …

Bomb Found at Home Of Wash. St. Player

A pipe bomb and bomb-making book were found at the home of aWashington State football player who lost his hand in an explosionthat killed a teammate, Pullman, Wash., police said Wednesday.

Linebackers Harvey "Buddy" Waldron and Payam Saadat were ridingon a residential street Monday night when a pipe bomb exploded intheir pickup truck. Investigators have not determined where the menwere going or why the bomb was in the vehicle driven by Waldron.

Waldron, 22, of Bellevue, Wash., died Tuesday night at a Spokanehospital; an autopsy was scheduled today. Saadat, 20, of SantaMonica, Calif., reportedly was in satisfactory condition at a Seattlehospital. Washington may …