McPier CEO warns of crisis without refinancing OK

Tue, 26 Feb 2008 15:45:00 EST - (Crain’s) — The chief executive of the Metropolitan Pier and Exposition Authority said Tuesday the agency is headed for a financial crisis unless it gets state permission to refinance its long-term debt to free up money to expand the hotel at McCormick Place.
Juan Ochoa called on attendees ...<div class="feedflare">
<a href="http://feeds.feedburner.com/~f/ChicagobusinesscomBreakingNews?a=87HpyvE"><img src="http://feeds.feedburner.com/~f/ChicagobusinesscomBreakingNews?i=87HpyvE" border="0"></img></a> <a href="http://feeds.feedburner.com/~f/ChicagobusinesscomBreakingNews?a=ibyE4Ve"><img src="http://feeds.feedburner.com/~f/ChicagobusinesscomBreakingNews?i=ibyE4Ve" border="0"></img></a> <a href="http://feeds.feedburner.com/~f/ChicagobusinesscomBreakingNews?a=aRIvqce"><img src="http://feeds.feedburner.com/~f/ChicagobusinesscomBreakingNews?i=aRIvqce" border="0"></img></a>
</div>

Click here to read article.. (http://feeds.feedburner.com/~r/ChicagobusinesscomBreakingNews/~3/241710872/news.pl)

How does this kind of thing happen?

Of course all the public entities get funding, they should budget within their means.