-- 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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The crime, grime, shootings, lootings and riots aren’t going to attract much to Chicago. ☹️🤔
Is this a joke?
May God Help Us.
Lori and Fatso- It’s the taxes! Nobody wants to come to Illinois!
Tech incubators are nothing more than subsidies to programmers in India at 1/6th the salary. Look at the IT department of any large company still in Chicago and you will see that 90% of their software support and development effort is done offshore in India. Why the hell should taxpayers here be funding “incubators” that just funnel it all off to Bombay? Lightfoot is clueless.
Lori is a joke! She has destroyed this city with her progressives!
Ask yourself a question. Has a mayor ever recruited tech talent anywhere? You know what does? Capital, jobs at high flying startups, and opportunity. Chicago doesn’t have capital (when it compares to NYC, Boston, SF, LA, Austin). Chicago has some great VC funds with great people at them but it’s not enough. Still a PE town. NYC is hightailing it to Miami. VCs are leaving SF for Miami. Miami has momentum right now. Chicago has some great companies being built. Pay no attention when Google hires people. They are Big Corporate. It’s when companies like Cameo hire, or rising companies… Read more »
Nothing will change.
Lori needs to stay in Chicago and deal with the crime. No more fundraising and grandstanding anywhere. Why isn’t the gutless media calling her out?
Do we really need to answer why? We all know why.
Conservative media calls her out quite a bit. Tucker mentions Chicago nearly every night as does most other conservative media outlets and webpages. It’s the main stream media that doesn’t pay any attention; but no worries, I don’t pay attention to the main stream media anymore either. I don’t even watch the local news any more, except for the weather.
Lori’s big selling points are Chicago Values,Clueless Leadership and advanced trauma care. Come trade one dump for another.
Tech incubators are like NICUs: they spend/lose a lot of money nurturing the baby, but when the baby survives and thrives (turns the age of profitability) it’s off to Delaware (or Zug) to incorporate and pay whatever taxes may be extracted.
Hey Laurie. Quit trying to soft pedal things with MBA speak by calling it a “challenge”. Its a flippin PROBLEM.
What would Chicago need to tax these companies to become solvent? 110%? Illinois is a black hole for money and common sense.
Right now between the homeless with their drug use, public urination and defecation, and shoplifting and street crime on the West Coast, and the carjacking, shootings, stabbings, and shoplifting in the Midwest, why would ANYBODY want to establish a tech company, let alone any company, in San Francisco or Chicago?
The Godless love the smell of their own stench.
This is so very true. 😦
SHOT’S FIRED!!!
Wuhan will get more of that business than Chicago.