-- 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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That’s good they’re changing the laws in IL to acknowledge that being carjacked is now a way of life.
Hmm, what about car payments and insurance?
I think insurance should pay off loan up to policy limits…but not more than the value of the car. Any leftover policy proceeds should go to owner-victim. I’m not an expert so don’t rely on this. This is not to say the victim didn’t arrange to have the stolen by his brother-in-law. How often does CPD look for or find stolen anything?
The comprehensive provisions of your car insurance policy covers theft or car jacking. They’ll pay you up to the cost of the vehicle. Sometimes that is less than what is owed on the vehicle and GAP insurance will cover the rest.
Insurance companies investigate theft for hints of fraud fairly thoroughly, especially if the ‘theft’ was reported late, there were no signs of forced entry (if damaged vehicle was located) and if there are any other indications of theft.
That being the case, if someone is insured, it would be to his (her!) benefit to file a police report even if the police do nothing about it.