-- 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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Well, that was a pretty grim read.
Ken Griffen left because the Chitty is a crime ridden piece of Schitt. Downtown is notown for the future years to come. Destroyed by the Chitty itself.
Want a cop? Call Punta Gorda Yacht Club.
How exactly will this space be filled? How many billion dollar corporations will swoop into downtown Chicago and lease hundreds of thousands of square feet? How will future layoffs affect additional absorption? These are dire times for downtown CRE.