-- 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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Rose-colored-glasses predictions of economic revival from a political convention are bullshit
https://www.ajc.com/news/atlanta-news/atlantas-loss-of-dnc-not-a-huge-blow-to-regional-economy/I2A4XGXN7NDUDITAI3MZJRLOBU/
This is another example, IMO, of how Crain’s has improved its game, Much more content calling out the BS and acknowledging our problems. (Though Greg Hinz still stinks.)
This is like defending an abusive spouse. “I know he’ll stop hitting me after he stops drinking, he hasn’t touched the stuff all week”. Crains backed the Democrats for the last 20years, maybe longer. They routinely glossed over problems that were building while supporting and giving press to every ridiculous DEI movement helping normalize them at the expense of the bare knuckles business reporting we needed. I canceled over a decade ago and it’s gotten worse. Crains is dead to a lot of us and no amount of course change can undo the damage. We dont need a business journal… Read more »
Crains? What’s that, never heard of it.