-- 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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Never was “go woke, go broke” made more manifest than here in Chicago. Goodbye, one-off storefront restaurants and shops. Goodbye, hotel and restaurant traffic from conventions, trade shows, and foreign/out-of-state tourism Goodbye, middle-class white collar families with school-age children. Soon, to live in Chicago, people will either need to subsidized, whether by government agency and/or by family, or wealthy. Our politicians are well-compensated, and insulated from the day-to-day stressors of life in Chicago. Their appointees and government management staff are well-compensated, well beyond their competency and management skills, cynically implementing policies which are destroying Chicago’s long-term future. Many young adults,… Read more »
BJ and the City Council are counting on the fact that many of the out-of-town/state business that would be affected by this ordinance will sigh, throw up their hands, then roll over and comply. If the past few years have proved anything, it’s that people (and businesses) are far more willing to bend over and take it, then to stand up and fight back. „It’s a big club, and you ain’t in it.” – George Carlin
So sad. The McCormick Center used to have a full slate of conventions at one time. What happened?
When you move out of Illinois, you find out that all your new neighbors know exactly what is going on in Chicago.
I find it hard to believe that a company not domiciled in The Failed State of Illinois would have to follow this ordinance.
What about the salesman that travels here every week or month. Or the out of town contractors that are here for weeks or months at a time. These out of town companies will have to start keeping records. This is the type of thing that makes these companies realize they should never open a business in Chicago.
You’re right. They “technically” are employees as they are soliciting business for their company in Chicago. I’m amazed that the brilliant minds on the City Council and bless his pointed little head BJ didn’t see this at once!