-- 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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Hmm, is this issue related to Fani Willis and her quest to get booty?
216 W. Jackson is a tough sell. Not historically significant, in a corner of the Loop that has lost its vibrancy because of the exit of trading firms, and its location is really dark and gloomy on Jackson next to the elevated train. I have no idea what could be done to save it.
Walking distance to Giordano stuffed pie, Lukes Ibeef and a Jimmy Johns.
I bid $100!!
Hah! I worked in that area for decades, so know those spots well. The remodeled buildings over there like 175 W. Jackson, the old Insurance Exchange, can’t draw tenants, so I don’t know who would move into the Luke’s building.