The Daily Herald from Arlington Heights, Illinois • Page 87

Elgin the Fox Valley dallyherald.com Saturday, March 15, 2008 PADDOCKPrni.trAnoNs* No. F1 A big bailout of a big firm, for the economy The Cause too much of the lending in recent years was neither responsible nor prudent. The terms of some subprime mortgages permitted homebuyers and investors to purchase properties beyond their means, often with little or no equity. In addition, abusive, unfair or deceptive lending practices led some borrowers into mortgages that they would not have chosen Federal Reserve Chairman Ben Bernanke, in a speech Friday Was a complete market collapse narrowly averted? Some are saying so after Bear Stearns one ofWall Street's venerable investment year-old institution is the sec- banks, was bailed out Friday ond-largest underwriter of by the federal government and U.S. mortgage bonds and, JPMorgan Chase Co.

The 86- therefore, it nearly failed. "My Indicators of the day guess is by next week, there will be rumors of other large, familiar institutions" that might be hi similar financial trouble, said Anil Kashyap, a University of Chicago business school professor. See more on what it all means in Business. Each of the major stock indexes lost more than 1.5 percent Friday, with the Dow Jones Industrial average falling nearly 200 points and the 500 index dropping 2 percent to under 1,300. Consumer inflation surprisingly posted its mildest reading in six months thanks to energy and food costs moderating.

But energy prices have resumed their upward climb. Effect (People) in the Chicago suburbs will feel no effect from today's events. In the long term, a credit crunch could have an effect far from Wall Street as you see credit harder to get and that slows businesses and the economy down." Carl Tannenbaum, prominent economist based in Downers Grove Priest in denial, doctor tells jury Extensive history of abuse detailed in court BY CHRISTY GUTOWSKI DAILY I II.KAI.D LKGAI. AFFAIRS WRrrcR In the ultimate betrayal of his priesthood, Frederick Lenczycki may have molested more than two dozen boys in 25 years while serving in parishes in three states. The allegation came to light Friday as a state-hired psychologist told a DuPage County jury the 63-year- old disgraced cleric is too dangerous to Fred Lenczyki be set free.

Lenczycki was to be paroled in May 2006 after serving half of a five-year prison term for fondling three Hinsdale altar boys two decades ago. But a month before his release, prosecutors sought to have him civilly committed under a law for those deemed sexually violent. The former Glen Ellyn man has been housed in a downstate treatment facility and has received sex-offender counseling. But as Lenczycki's civil trial opened Friday, a state expert testified the priest minimized his actions, believing that he didn't cause harm. "I think he's beginning to 'face that," said Amy Phenix, a California clinical psychologist.

"He just hasn't had enough treatment yet to really change this attitude." Lenczycki was ordained in 1972. He served at Ss. Peter and Paul Catholic Church in Naperville until 1975, where three boys were allegedly inappropriately touched. Another two dozen accusers made similar complaints in the next two decades at various churches in Romeoville, Hinsdale, California and Missouri. In all, he had 15 assignments in three states.

Prosecutors say his accusers ranged in age from 9 to 17 and were usually altar boys, students or performing See DENIAL on PAGE 7 THEORY OF PI PHOTOS BY BRIAN III I.I./l)li liurald.com irst-grader Johnathan Stultz and 43 of his Einstein Academy schoolmates got to throw pies Friday at Jason Smith, who teaches first grade and gym at the Elgin school, in celebration of Albert Einstein's birthday, which happens to coincide with Pi Day. Pi Day is celebrated worldwide on March 14 or The physicist, who knew a little something about pi, would have been 129 years old. 3.141592653589793238462t>i:i-'K.- 9862803482534211706798- 502884197 A big bump in pay? Kane County officials' salaries jump under plan BY LESLIE HAGUE Some elected county officials could get $20,000 raises next year under a plan approved by a county committee Friday. The six full-time county officials, excluding sheriff and board chairman, would each get a salary of $95,000 next year under the plan approved by the county's human services committee. The raises would begin in December of this year, after Proposed raises Current $90,000 $95,000 $90,000 $95,000 $108,250 $116,500 $76,873 $95,000 $76,873 $76,873 $95,000 $79,000 $95,000 $85,000 $105,000 Clerk Treasurer Sheriff Auditor Coroner Recorder Circ.

clerk Brd. chair Source: Kane County human services committee elections. "They have children to put through college, they have to put meals on the table just like everyone else," said Elburn Republican Jan Carlson. "They should be paid fairly." Two years ago, the county convened an ad- hoc committee of businesspeople to determine what the officials would be paid in the private sector and what were appropriate salaries, Carlson said. Three of the positions county clerk, trea- See BUMP on PAGE 8 Cambridge Lakes parents give only director piece of their mind BY LARISSA CHINWAH Parents from the Cambridge Lakes Charter School in Pingree Grove have said the school board has not heard their concerns.

After Friday night's town hall meeting, parents said it is likely the school board is still not hearing them. About 80 parents and residents attended a town hall forum intended to open the lines of communication between parents, teachers, officials from District 300 and the Northern Kane Educational the body governing the charter school. But only Northern Kane's executive director, Larry Fuhrer, was on hand to answer questions ranging from disciplinary action to the school's charter and plan. "This was a waste of time because he kept dancing around the questions," said Christy Blohm, a parent who questioned the school's discipline standards because she says her children are being bullied. "He wasn't answering directly.

He was cocky, arrogant and demeaning." Earlier in the week, about a dozen parents sat in on a school board meeting and said they had not been given the opportunity to serve on the charter school's six- member parent council or attend the group's meetings. Fuhrer, who absorbed often heated criticism for more than 90 minutes, admitted there were glitches in the school that need to be worked out. The school is in its first year. "I don't believe that we have the perfect faculty or the perfect system," Fuhrer said. "But it does improve every day." Other parents supported the school.

"We are extremely happy with the school," said Andrea Swanson of West Dundee, who has a daughter in the sixth grade. "She is assessed, and we are completely satisfied with the school. Charter school is not for everybody." Steve Swanson said parents should cut the school and Fuhrer some slack since the school is still in its infancy. "Things need to be worked out and it is the first year of a brand new charter school," Swanson said. "If you don't See MEETING on PAGE 8 Weather So SP Hey, it's not ffiafbad 40 beats 20.

See bark of Business. Local Focus B1W0WJJ Walk, skate or run your way in Elgin to help fight cancer. Page 3. Hey, Elgin: Any potholes left? City officials think they've filled them all. Page 4.

Coming Sunday USA Weekend Eight expert tips on raising a healthier, happier family. Homes Plus "Soft contemporary" is what's new in kitchen cabinetry. Wall Street Journal Sunday The slocks slide may have linger, but long- term should have their wish lists ready. In Business. Index Auto 6-1 Comics Howscojx 54 5-2 5-5 54 Movies Obituaries Puzzles SavifeDir Television Contact us Want to subscribe? Missing a paper? Call (847) 427-4333 by 9 a.m.

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