-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Whatever McKinsey says, the opposite is likely the truth! These consulting firms make big bucks to regurgitate idiotic nonsense. Find out what the CEO thinks and tell them they’re right! Employee issues? Blame HR. They send all their dbag analysts into the building. Everyone with half a brain immediately goes into hiding. The analysts are basically exit ramp university stars in over their heads when their feet touch the floor in the morning.