-- 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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One that low-income housing is in place in downtown Chicago, you can sit outside your office building and eat your lunch while socializing with some of these new residents.
Once
Come for the food.
Stay because you got murdered.
#JournalismIsdead
As long as the people and party who instituted tyrannical, politically motivated lockdowns remain in power businesses will avoid the areas they control including Chicago and Illinois. They fuqed this state for a generation or more to come. Who would ever locate or keep a business in a fascist blue state after this?
Workers can’t afford to spend $15-20/day on lunch. Hell, people are dining out less now during non-work hours due to inflated prices. Unless the employer is going to partially subsidize, more restaurants in your building aren’t gonna draw more workers downtown.
I can afford it but I won’t, I usually bring a lunch. Pot Belly sub in my building is now $10.20 (plus over $1.00 in tax) used to be $6.00 before covid. I saw that and walked out.
My local sushi joint raised prices too. Was $10 now $14.
Talk about fake news fraud. A crappy lunch cart is not going to make anyone choose to go back to hours of commuting to the downtown crime toilet.
He thinks people aren’t returning downtown because of the lack of Starbucks and Pret a Mangers. No mention of high crime, no mention of the growing movement of suburbanites actively boycotting Chicago, or high vacancies throughout the loop.
This journalismist supposedly has covered CRE since 2013 for the Tribune. Shows how utterly stupid journalismists can be.