-- 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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I wonder what Illinois employers pay on average for legal services per employee vrs other states? Im sure it’s in $outerspace$…..(could make for a good wp research piece)
Another step towards unionizing every worker in Illinois. If your company has 30 admins and you have to pay them equally you now have a group that can unionize. What companies will need to do is have to do is categorize their positions so they don’t have too many of the same kind.
Not their place. Sticking their nose where it does not belong. Mandates are not laws – hope most businesses ban together and thumb their nose at this.
It’s a law. Typical pointy wire idiotic comment. You can “ban” together with those business when they are paying $10k fines. Thumb your nose and pull out your wallet. lol
LOL my spouse works for a large corporation that does remote hiring, and their job descriptions specifically say “this opportunity is not available to residents of Illinois and Colorado” because of these kinds of laws. Which is not what IL needs considering that we are 47th in job creation since the pandemic.
What a cool way for a corporation to rebel against IL’s draconian restrictions and penalties on business!
It only works if you don’t have the manager located in Illinois. If the employee is in Illinois or the supervisor lives in Illinois the law requires transparency. I would rather work for a corporation that values transparency of pay and benefits instead of working for someone that wants to exploit you. His wife (probably not real) works for a horrible organization and must have no plans to move up the corporate ladder.
Boot licking for corporations is a sad way to go through life.
Says the db who elected a billionaire as governor! Touche!