-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
I can’t wait for John Deere to implement its DEI programs in Mexico! That will be fun to watch.
I think they’ll find that dealing with unions was preferable to dealing with the cartels…
Just goes to show you the leadership at Caterpillar is nothing more than Democrat globalist scum. Yes, Illinois sucks, we understand this, but they could have moved the factor 200 miles to the east or west, piece by piece, to a right to work state, and a good chunk of the work force probably would have followed them out of state. But they moved to Texas instead; Remember, America is just an economic zone to them, and if the economic zone isn’t earning a few more pennies, then they leave.
https://www.caterpillar.com/en/careers/why-caterpillar/diversity-inclusion.html
They’re just as woke as you can imagine too.
It’s not the rank and file, but the out of town, out of state Bosses who have their own agenda.
Caterpillar did this years ago in IL – outsource, open shop strategy, offshore, and bring in foreign H1B workers. Shawn Fain and Joe Biden and Pritzker can take a bow now.
Thank you Bill Clinton for signin NAFTA.
It took ’em long enough. Other major companies with manufacturing sites in IL shifted production south decades ago. I was an engineer for GE in the ’80s; then CEO “Neutron Jack” Welch made my job disappear, but left the buildings intact. Good ole Neutron Jack!