-- 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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Three things… 1) Full EV vehicles just have not bridged the technological gap. It is not practical. It is not just me saying it, it is also an expert on the industry saying it: https://www.forbes.com/sites/peterlyon/2024/03/03/bucking-industry-trend-toyota-chairman-downplays-ev-growth-predictions/ 2) I can’t help but feeling (I acknowledge “feeling” is in no way acceptable when making/judging policy) that there is a conflict of interest with Tesla (Elon). I need to find out whether Tesla still receives a federal subsidy. WSJ’s Holman Jenkins wrote a piece some time ago positing the idea that Elon could have made Internal Combustion Engine (oil/gas) vehicle to fund his EV… Read more »
Rivian has a track record of utter failure and this does not bode well for recovery of this outrageous “loan” to this failing company. It makes sense that Dick would want to dole out more money to DNC donors at Rivian. This money will about as recoverable as the Solyndra funds were so many years ago. Not that collectability of these taxpayer dollars matters to Dick.
This Dick has got to go.
Tell Pritzker the same he must go.