-- 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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Ken Griffen solved the problem. He and thousands of his high paid employees are now living the good life in sunny Florida. The CME can move anywhere as it is now mostly online trading.
FME-Florida Mercantile Exchange. I can already see it coming.
Duffy’s car was insured, of course, so what’s the big deal? He probably has seven cars, he’s a rich guy. And its just a gun in your wife’s face. All she has to do is just give them the car. Even better, take the bus like everyone else instead. It’s like the tamale cart vendors being robbed of their cash. They should stop using cash for transactions. Problem solved!
That’s the price you pay for living in and doing business within Chicago.