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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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I’ll take the under on this. Bears are going to build a stadium in Arl. Hts. no matter what, and they’ll extract some concessions one way or another, but it won’t be anything near what other cities get. People think the Bears ownership are grifters (they are) and cheap (they are) and poor stewards (they are). But the real issue is the Bear’s poor performance over the previous 23 years, with only one SuperBowl appearance (they were blown out) and few playoffs to speak of, a rotating cast of ineffective quarterbacks, all culminating in the bears 3-14 record last year,… Read more »
To finish the previous post, if the Bears were a winning team, with multiple playoff appearances in the past few years, maybe even another SB appearance, and legit franchise QB, this talk about leaving Solider Field would be a foregone conclusion. Of course they’d leave, and everyone would want the winning Bears in their city. But nobody wants a loser, as Ole Joe keeps pointing out about the Lions and some of the other teams that have struggled to get new studiums built. Win first, then you’ll be in a better negotiating position.
Just another example of corporations trying to induce political fools into supporting them.The Bears floated the AH proposal knowing full well others would fall over themselves to join the frenzy.you’d need to be an idiot to do any business with the Bears.
Not one more dime to the McCaskey’s—already gave them billions. Another example of CIG (corrupt; incompetent; greedy) IL/CHI politicians.
Duh! No kidding Tribune. Mark is correct on the infrastructure. But you folks at the Trib have been following stadium stories for the White Sox, Bulls, Bears, Blackhawks and soccer since the 1970’s. And you just figured this out now? The Bears are a bad sponsor with a bad plan which translates to no deal anywhere but an extended lease at Soldier Field. There never was any alternative.
Wonder if Lori’s offer to enclose it still stands?
Agreed. As Old Spartan has said here, the Bears will stay in Soldier Field. Infrastructure costs elsewhere are just too big.