This Illinois company was just sold for $3 billion, but hundreds of employees are getting a cut. Some will get $800,000. – Chicago Tribune/MSN

Pete Stavros, an Arlington Heights native whose dad was a union road grader with a Chicago construction company, developed the model for vesting hourly employees with equity ownership at no cost. In addition to an ownership stake, employees were allocated $1 million per year for enhancing the factory, investing in everything from air conditioning to new break rooms and a cafeteria. Productivity flourished, Stavros said, with revenue growing by 120% and the earnings margin increasing from 21% to 35% during KKR’s ownership of C.H.I.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

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.

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