Three stories making news across the Midwest today:
1. Groupon scales back IPO expectations. Downsizing its initial expectations, Groupon said Friday that it expects to raise between $480 million and $540 million from its initial public offering. Originally, the Chicago-based company had expected to raise at least $750 million. In an filing with the Securities and Exchange Commission, Groupon said it expected pricing between $16 and $18 per share in its IPO pricing, according to the Chicago Tribune. That range would give Groupon a value between $10.1 billion and $11.4 billion, less than half initial expected valuations between $20 and $30 billion.
2. Columbus mayoral candidates spar. Columbus Mayor Michael Coleman sees a city with an improving crime rate and an “enviable job-creation record,” according to the The Columbus Dispatch. His counterpart in November’s upcoming mayoral election sees an economy that could be doing much better. In a debate Thursday night, Coleman, a 12-year incumbent, said he has created or saved 90,000 jobs in Ohio’s capitol while Jr. questioned why public money was being used to finance the purchase of Nationwide Arena, a deal he called “morally reprehensible.”
3. Wisconsin teachers under scrutiny. Wisconsin lawmakers approved a bill Thursday that allows school officials to use standardized test scores to help determine whether teachers should be disciplined or fired. It passed, 17-16, on a party-line vote. Previously, school officials could use test scores as a means to evaluate teachers, but not to fire or suspend them. The bill, according to the Milwaukee Journal Sentinel, also eliminates a cap on the number of teaching days in the Milwaukee Public Schools school year.