Factbox: The companies making money from Illinois’ unpaid bills(Reuters) - During a 10-month period starting in November 2015, four firms qualified by Illinois Governor Bruce Rauner’s administration purchased $1.12 billion in unpaid bills due scores of vendors providing critical goods and services. In return, the firms stood to pocket at least $118 million in state-funded late-payment penalties as of late September. Firm			       Receivables acquired*       Late-payment penalty* Vendor Assistance Program		$707.2 million               	$82.4 million         Illinois Financing Partners  	$275.4 million                  	$18.6 million Vendor Capital Finance LLC  	$145 million                  	$16.9 million Payplant                     	$475,330                        	$39,530 *As of Sept. 28, 2016 Source: Illinois Department of Central Management Services Vendor Assistance Program (VAP) VAP’s February 2014 disclosure, its latest available, identifies six funding sources and 12 owners, including Citibank N.A. and the consulting firm owned by Democratic political strategist Patti Solis Doyle, Hillary Clinton’s 2008 presidential campaign manager. Another VAP investor listed on that document is Manchester Securities, which is owned by billionaire hedge fund manager Paul Singer and had a 4 percent stake. State records show Singer donated $250,000 to Rauner in September 2014, two months before Rauner’s election and 14 months before the launch of the Rauner administration’s Vendor Support Initiative.  Argentina dubbed an affiliated Singer-owned company a “vulture” investor for its hardball tactics in a decade-plus legal battle with the South American nation over defaulted sovereign debt. At one point, the Singer firm had an Argentine naval training vessel briefly impounded by Ghana in an attempt to extract money from Buenos Aires. Illinois Financing Partners (IFP) Illinois Financing Partners, LLC’s involvement in the program is backed by a $500 million Bank of America commitment, according to an IFP filing with the state in April. IFP’s purchases have consisted entirely of overdue Health Alliance bills. The group’s president, founder and majority investor is Lindsay Trittipoe, who holds a 58 percent stake in the company.  IFP’s minority investors include former two-term Illinois Republican Governor Jim Edgar, who is IFP’s board chairman, and former U.S. Representative Jerry Costello, an Illinois Democrat. Both hold 1 percent stakes in the company. Vendor Capital Finance LLC A February 2014 disclosure to Illinois, the most recent available, lists New York municipal finance consultant Le Chen as VCF’s chief executive officer. LeRose, LLC, of which Chen is identified as the lone member in state business records, reported a 6 percent ownership stake in VCF. With a nearly 94 percent stake, VCF’s largest owner was ER Illinois LLC, based at the same New York address as Richmond Hill Investment Co., LP, VCF’s filing showed. Payplant LLC The Palo Alto, California-based firm was co-founded by Ronjon Nag, an inventor and smartphone pioneer, and Neerav Berry, a computer engineering expert and co-founder of a mobile app store platform acquired by Blackberry. A February 2014 filing with Illinois showed Nag and wife Sally Ann Rudd committing $5 million to Payplant with another $5 million coming from the Berry & Pandey Living Trust. The program targets invoices from contractors providing vital state services 90 or more days overdue. To date, Illinois has designated a variety of vendors, including some that supply state employees and retirees with medical services, feed prison inmates and keep Illinois’ computer systems functioning. The outside groups front unpaid vendors 90 percent of the face value of their receivables. Whenever Illinois eventually pays those bills, vendors keep the remaining 10 percent of what they are owed, then forward the balance and late-payment penalties to the lenders. SOURCES: Illinois Department of Central Management Services politicsNews
factor the companies making money illinois unpaid bills reuters during period starting november four firms qualified illinois governor bruce rather administration purchased billion unpaid bills due scores vendors providing critical goods services in return firms stood pocket least million penalties late september firm receivables acquired penalty vendor assistance program million million illinois financing partners million million vendor capital finance llc million million payplant as source illinois department central management services vendor assistance program map map february disclosure latest available identifies six funding sources owners including citibank consulting firm owned democratic political strategist parti solid doyle hillary clinton presidential campaign manager another map investor listed document manchester securities owned billionaire hedge fund manager paul singer percent stake state records show singer donated rather september two months rather election months launch rather administration vendor support initiative argentina dubbed affiliated company vulture investor handball tactics legal battle south american nation defaulted sovereign debt at one point singer firm argentina naval training vessel briefly impounded ghana attempt extract money buenos aires illinois financing partners if illinois financing partners llc involvement program backed million bank america commitment according if filing state april if purchases consisted entirely overdue health alliance bills the group president founder majority investor lindsay trittipoe holds percent stake company if minority investors include former illinois republican governor jim edgar if board chairman former representative jerry constell illinois democrat both hold percent stakes company vendor capital finance llc a february disclosure illinois recent available lists new york municipal finance consultant le chen cf chief executive officer rose llc chen identified lone member state business records reported percent ownership stake cf with nearly percent stake cf largest owner er illinois llc based new york address richmond hill investment lp cf filing showed payplant llc the polo alto firm london nag inventor smartphone pioneer neural berry computer engineering expert mobile app store platform acquired blackberry a february filing illinois showed nag wife sally ann rudd committing million payplant another million coming berry handed living trust the program targets voices contractors providing vital state services days overdue to date illinois designated variety vendors including supply state employees retirees medical services feed prison inmates keep illinois computer systems functioning the outside groups front unpaid vendors percent face value receivables whenever illinois eventually pays bills vendors keep remaining percent owed forward balance penalties lenders sources illinois department central management services politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Factbox: The companies making money from Illinois’ unpaid bills(Reuters) - During a 10-month period starting in November 2015, four firms qualified by Illinois Governor Bruce Rauner’s administration purchased $1.12 billion in unpaid bills due scores of vendors providing critical goods and services. In return, the firms stood to pocket at least $118 million in state-funded late-payment penalties as of late September. Firm			       Receivables acquired*       Late-payment penalty* Vendor Assistance Program		$707.2 million               	$82.4 million         Illinois Financing Partners  	$275.4 million                  	$18.6 million Vendor Capital Finance LLC  	$145 million                  	$16.9 million Payplant                     	$475,330                        	$39,530 *As of Sept. 28, 2016 Source: Illinois Department of Central Management Services Vendor Assistance Program (VAP) VAP’s February 2014 disclosure, its latest available, identifies six funding sources and 12 owners, including Citibank N.A. and the consulting firm owned by Democratic political strategist Patti Solis Doyle, Hillary Clinton’s 2008 presidential campaign manager. Another VAP investor listed on that document is Manchester Securities, which is owned by billionaire hedge fund manager Paul Singer and had a 4 percent stake. State records show Singer donated $250,000 to Rauner in September 2014, two months before Rauner’s election and 14 months before the launch of the Rauner administration’s Vendor Support Initiative.  Argentina dubbed an affiliated Singer-owned company a “vulture” investor for its hardball tactics in a decade-plus legal battle with the South American nation over defaulted sovereign debt. At one point, the Singer firm had an Argentine naval training vessel briefly impounded by Ghana in an attempt to extract money from Buenos Aires. Illinois Financing Partners (IFP) Illinois Financing Partners, LLC’s involvement in the program is backed by a $500 million Bank of America commitment, according to an IFP filing with the state in April. IFP’s purchases have consisted entirely of overdue Health Alliance bills. The group’s president, founder and majority investor is Lindsay Trittipoe, who holds a 58 percent stake in the company.  IFP’s minority investors include former two-term Illinois Republican Governor Jim Edgar, who is IFP’s board chairman, and former U.S. Representative Jerry Costello, an Illinois Democrat. Both hold 1 percent stakes in the company. Vendor Capital Finance LLC A February 2014 disclosure to Illinois, the most recent available, lists New York municipal finance consultant Le Chen as VCF’s chief executive officer. LeRose, LLC, of which Chen is identified as the lone member in state business records, reported a 6 percent ownership stake in VCF. With a nearly 94 percent stake, VCF’s largest owner was ER Illinois LLC, based at the same New York address as Richmond Hill Investment Co., LP, VCF’s filing showed. Payplant LLC The Palo Alto, California-based firm was co-founded by Ronjon Nag, an inventor and smartphone pioneer, and Neerav Berry, a computer engineering expert and co-founder of a mobile app store platform acquired by Blackberry. A February 2014 filing with Illinois showed Nag and wife Sally Ann Rudd committing $5 million to Payplant with another $5 million coming from the Berry & Pandey Living Trust. The program targets invoices from contractors providing vital state services 90 or more days overdue. To date, Illinois has designated a variety of vendors, including some that supply state employees and retirees with medical services, feed prison inmates and keep Illinois’ computer systems functioning. The outside groups front unpaid vendors 90 percent of the face value of their receivables. Whenever Illinois eventually pays those bills, vendors keep the remaining 10 percent of what they are owed, then forward the balance and late-payment penalties to the lenders. SOURCES: Illinois Department of Central Management Services politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: factor the companies making money illinois unpaid bills reuters during period starting november four firms qualified illinois governor bruce rather administration purchased billion unpaid bills due scores vendors providing critical goods services in return firms stood pocket least million penalties late september firm receivables acquired penalty vendor assistance program million million illinois financing partners million million vendor capital finance llc million million payplant as source illinois department central management services vendor assistance program map map february disclosure latest available identifies six funding sources owners including citibank consulting firm owned democratic political strategist parti solid doyle hillary clinton presidential campaign manager another map investor listed document manchester securities owned billionaire hedge fund manager paul singer percent stake state records show singer donated rather september two months rather election months launch rather administration vendor support initiative argentina dubbed affiliated company vulture investor handball tactics legal battle south american nation defaulted sovereign debt at one point singer firm argentina naval training vessel briefly impounded ghana attempt extract money buenos aires illinois financing partners if illinois financing partners llc involvement program backed million bank america commitment according if filing state april if purchases consisted entirely overdue health alliance bills the group president founder majority investor lindsay trittipoe holds percent stake company if minority investors include former illinois republican governor jim edgar if board chairman former representative jerry constell illinois democrat both hold percent stakes company vendor capital finance llc a february disclosure illinois recent available lists new york municipal finance consultant le chen cf chief executive officer rose llc chen identified lone member state business records reported percent ownership stake cf with nearly percent stake cf largest owner er illinois llc based new york address richmond hill investment lp cf filing showed payplant llc the polo alto firm london nag inventor smartphone pioneer neural berry computer engineering expert mobile app store platform acquired blackberry a february filing illinois showed nag wife sally ann rudd committing million payplant another million coming berry handed living trust the program targets voices contractors providing vital state services days overdue to date illinois designated variety vendors including supply state employees retirees medical services feed prison inmates keep illinois computer systems functioning the outside groups front unpaid vendors percent face value receivables whenever illinois eventually pays bills vendors keep remaining percent owed forward balance penalties lenders sources illinois department central management services politicsnews