-- 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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I guess steel tariffs weren’t enough to keep this place open. Technology and the marketplace have bypassed Granite City and the inefficient and unprofitable way that steel was made there. It’s a shame for all who worked there and will lose their jobs.
This is BS from Duckworth.
LG will find a southern state with better transportation options.
Every southern state is more attractive than screwed up Illinois.
Duckworth isn’t discussing anything with LG executives
So the Mayor of Granite City’s response to a 1000 jobs employer closing its plant is to threaten them with EPA action? Wow. Yea, I want to come to Illinois and receive the same parting gifts from local officials.
The plant’s not closing, it will still retain 450 jobs with a new owner making pig iron for U.S. Steel. Bringing in the EPA could cause the plant to close, and lose those jobs as well, by making a cleanup so expensive it’s cheaper to close the place than clean it up to EPA standards. And the mayor didn’t seem to be concerned about any EPA violations before the sale of the plant.
Brain dead Duckworth thinks LG wants to come to high tax, business hostile, union racketeered Illinois — what a moron