One of Chicago’s big corporate employers is moving to cut most employees’ salaries by 20 percent. Aon, based in London but employing about 5,000 in the Chicago area, announced the temporary pay cut today as a maneuver to “preserve operational flexibility.” CEO Greg Case and other top executives announced they would be taking 50 percent cuts in salary at the same time.
While this new advisory referendum could be nothing more than a political distraction, it could also be that lawmakers are gauging Illinoisans’ appetite for another bite at a progressive income tax hike – this time with lower property taxes as a sweetener.
At $1.5 million per job, the new incentive package from the state is at least 15 times the norm. For this much money, the state could have just handed out a million bucks to 827 people, instead of creating 550 jobs.
Ted joined Jeff Daly to discuss the university student protests erupting across the nation on the Israel/Palestine conflict, why it’s so dangerous for society if the media abandons facts in favor of narratives, why that allows government to spin away the problems like crime and financial crises, why it causes the voting public to become apathetic, and more.
When you hear the complaints from Illinois politicians, remember the hypocrisy: 40,000 bused to Chicago, but 161,562 allowed to fly directly to Florida.
Nearly one year ago, Chicagoans cheered Mayor Lori Lightfoot’s removal from office. In her place was Brandon Johnson, who promised a more inclusive approach to building a “better, stronger, safer Chicago.” It hasn’t turned out that way. Today, there’s little disagreement that Mayor Johnson has disappointed on most key issues. On crime. On policing. On migrants. On education. On governance. Even on foreign affairs.
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Navistar cut too depending on your employee level, similar amount. But the agreement is that we will be reimbursed with 6% interest after things go back to normal. 6% ain’t bad.
Corporate America doing what it can to stay in business and keep people employed, meanwhile Pritzker embraces raises for public workers.
Aon employee here. Public sector workers are our feudal lords and we are their serfs.
This won’t be good for the ‘Unfair Tax’.