-- 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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Hopefully Mayor’s Office will order Dept of Aviation to do a DEEP CLEAN of both O’Hare and Midway airports in advance of DNC convention arrivals.
We fly out of O’Hare. Truly a 3rd-world facility. It’s dated, filthy, rundown, and no comparison to most international airports.
It is not that difficult to identify the problems. Almost anyone in the construction industry working anywhere near the project can tell you. 30 percent or more minority set asides for firms that have no suitable aviation construction experience. Union wages, loaded up with overtime. Totally incompetent City Hall supervision through six or more years. All the classic ingredients for a monumental municipal construction bust are present here.
The airport is a pig pen, floors are filthy, ceilings have not been cleaned leave it alone and let the illegals take it over.
The Democrats just are very slow learners.
They just don’t care…probably no money to get
Perhaps the city should overvalue its assets to secure a loan to cover costs…
Hmm, perhaps we should concentrate the remaining funds on departure terminals only!
The airlines should stick with the commitments made in 2018, and not a penny more. Chicago is no longer a trustworthy place to do business in, and you can’t have good faith negotiations in that environment. If this project is so important, maybe the city and state should lower the prevailing wage for it. Looks like the airlines are the adults in the room, and they should just say no to the D’s attempts to make this a pork fest.
Well said